Maiden Resource For The Snip Gold Project

VANCOUVER - Skeena Resources Limited reported an underground constrained Mineral Resource Estimate (MRE), for the Snip gold project, located in the Golden Triangle of northwest British Columbia, which has been reviewed and validated. This MRE was derived from a database containing 3,697 surface and underground diamond drill holes totaling 309,327 metres of which 3,112 drill holes and 14,113 composites of 1.5 metres in length were used directly in the estimate. The MRE reports resources amenable to underground mining methods. The effective date of this MRE is July 21, 2020 and a technical report will be filed.

The underground constrained Indicated resources include 244,000 ounces of gold hosted within 539,000 tonnes at an average gold grade of 14.0 g/t Au. Resources within the Inferred category include 402,000 ounces of gold hosted within 942,000 tonnes at an average gold grade of 13.3 g/t Au. In the determination of reasonable prospects for economic extraction, long hole stoping is contemplated.

“Our efforts in the coming months will focus on expanding these now well-defined resources with expansion drilling in the newly evolving 200 Footwall Corridor as well as other near-mine targets,” said Paul Geddes P.Geo, Vice President of Exploration & Resource Development. “Kathi Dilworth, Skeena’s Chief Resource Geologist, has developed a very robust and defendable resource model that will formulate the basis of future economic studies.”

Walter Coles Jr., President & CEO, said, “We are very excited about the maiden resource at Snip, particularly because of the excellent grade and the proximity to Eskay Creek. We will commence drilling at Snip shortly to follow-up on the exciting exploration success from last summer in an effort to expand the resource.”