Mr. Walt Coles reports

SKEENA REPORTS DRILL ASSAYS FROM SPECTRUM INCLUDING 10.63 G/T AU OVER 27.0 METRES

Skeena Resources Ltd. has released assay results from the first five holes of its recently completed diamond drill program (nine holes totalling 1,940 metres) on its Spectrum gold project in northwest British Columbia (refer to Skeena news release dated Oct. 27, 2014, and a National Instrument 43-101 technical report on the company website and filed on SEDAR Sept. 5, 2014). The property is situated 40 kilometres west of Imperial Metals' Red-Chris mine, and 14 km west of Teck's GJ deposit.

All of the holes, drilled from four separate platforms, were directed at exploring continuity to depth along the Central zone occurrence, by a series of intercepts averaging 50 metres beneath historic intersections. A drill plan map has been posted to the company's website. Detailed cross-sections and preliminary interpretations will be posted upon receipt of the outstanding analyses from the remaining four holes along with 250 check samples from historic drill core.

Drilling was confined to the Central zone due to the late seasonal start of the program. Composited results are presented in the associated table. Significant intercepts include: 23.84 grams per tonne (g/t) gold (Au) over 6.5 m, including 40.43 g/t Au over 3.5 m, in DDH 14-SP-003; 10.63 g/t Au over 27 m, including 66 g/t Au over two m and 20.4 g/t Au over two m, 9.2 g/t over two m, eight g/t Au over two m and 22.7 g/t Au over two m in DDH 14-SP-004; and 18.60 g/t Au over two m, 3.19 g/t Au over four m, 7.32 g/t Au over two m, and 6.88 g/t Au over two m in DDH 14-SP-005.

Drill intercepts are broadly similar to grade and tenor obtained by historical operators on the Spectrum property. Several high-grade intersections up to 200 metres below surface attest to the excellent vertical continuity of mineralized structures, and suggest that high-grade mineralization may extend to significant depth.

In addition to the Central zone, the property contains more than 10 different showings of high-grade sulphide-gold mineralization, spatially associated with steeply dipping fracture zones contained within a broad area of propyllitic and potassic-altered Stuhini group intermediate volcanics and volcaniclastic rocks at the contact zone of a sill-like monzonite intrusion of Jurassic age. This is the same type of geological setting as many of the major copper-gold deposits in the Golden Triangle area of northwest British Columbia except that Spectrum has demonstrated much higher gold grades.

                                    DRILL RESULTS

Hole No.                   From             To       Interval                  Au
(ID)                        (m)            (m)            (m)               (g/t)

14-SP-001                  43.0           51.0            8.0                2.45
                          111.0          113.0            2.0                4.76
                          136.0          138.0            2.0                3.30
14-SP-002                  66.0           68.0            2.0                2.05
                           94.0           97.0            3.0                2.91
                          147.0          149.0            2.0                2.31
                          154.0          156.0            2.0                7.80
14-SP-003                  78.0           84.5            6.5               23.84
Including                  79.5           83.0            3.5               40.43
                           94.0          100.0            6.0                2.00
14-SP-004                 106.0          133.0           27.0               10.63
Including                 111.4          113.4            2.0               66.00
Including                 119.0          121.0            2.0               20.40
                          121.0          123.0            2.0                9.20
                          126.0          127.0            1.0                 8.0
                          131.0          133.0            2.0               22.70
                          151.0          153.0            2.0                4.51
                          161.8          169.7            7.9                2.86
14-SP-005                  80.0           82.0            2.0               18.60
                           90.0           94.0            4.0                3.19
                          144.0          146.0            2.0                7.32
                          162.0          164.0            2.0                6.88

Skeena expects to report assay results of the remaining four drill holes in early January.

Quality assurance/quality control

Drilling was conducted under the supervision of Jacques Stacey, MSc, PGeol, and Doug Cruickshank, MSc, PGeol, both of Taiga Consultants Ltd. A rigorous chain-of-custody and QA/QC (quality assurance/quality control) program, consisting of the insertion of certified standard control samples, duplicates and blanks, was applied to the NQ-diameter, split half-core samples. Sample preparation was handled by an Acme Analytical Laboratories facility in Smithers, B.C., and the analyses conducted by Acme Analytical in Vancouver, B.C. Gold content was determined by inductively coupled plasma mass spectrometer of a 15-gram aliquot utilizing hot aqua regia digestion. All samples that assayed greater than or equal to five g/t were reanalyzed by fire assay with a gravimetric finish of a 30-gram aliquot.

The qualified person for the company, as defined in National Instrument 43-101, is Rupert Allan, PGeol, vice-president, exploration.

We seek Safe Harbor.