Ms. Galina Meleger reports

SKEENA RESOURCES LIMITED ANNOUNCES THE FILING OF THE PROSPECTUS SUPPLEMENT IN RESPECT OF ITS APPROXIMATELY C$125 MILLION BOUGHT DEAL FINANCING

Skeena Resources Ltd. has filed a prospectus supplement and entered into an underwriting agreement with a syndicate of underwriters led by BMO Capital Markets in respect of its previously announced bought deal offering of 5.21 million common shares of the company at a price of $24 per common share for aggregate gross proceeds of approximately $125.04-million.

The company has granted the underwriters an overallotment option, exercisable in whole or in part, at any time until and including the date that is 30 days following the closing of the offering, to purchase up to an additional 781,500 common shares at the offering price. If the underwriters were to exercise the overallotment option in full, this would increase the aggregate gross proceeds to the company of the offering to approximately $143,796,000.

The common shares, including any overallotment shares, will be offered by way of a prospectus supplement to the company's base shelf prospectus in all of the provinces of Canada, excluding Quebec. The offered shares will also be offered by way of a U.S. prospectus supplement to the company's registration statement on Form F-10 (including the base shelf prospectus) in the United States. The offering is expected to close on or about Oct. 8, 2025, and is subject to customary closing conditions, including, but not limited to, Skeena receiving all necessary regulatory approvals, including the approval of the Toronto Stock Exchange and the offered shares having been approved for listing on the New York Stock Exchange.

Access to the prospectus supplements relating to the offering, the base shelf prospectus and any amendments thereto are provided in Canada in accordance with securities legislation relating to the procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment to such documents. The base shelf prospectus and the prospectus supplement are accessible on Skeena's issuer profile on SEDAR+. An electronic or paper copy of the base shelf prospectus, registration statement and prospectus supplements relating to the offering may be obtained, without charge, upon request in Canada by contacting BMO Nesbitt Burns Inc., Brampton Distribution Centre, care of The Data Group of Companies, 9195 Torbram Rd., Brampton, Ont., L6S 6H2, by telephone at 905-791-3151, extension 4312, or by e-mail at torbramwarehouse@datagroup.ca, and in the United States by contacting BMO Capital Markets Corp., attention: equity syndicate department, 151 W 42nd St., 32nd floor, New York, N.Y., 10036, or by telephone at 800-414-3627 or by e-mail at bmoprospectus@bmo.com. Copies of the base shelf prospectus and the prospectus supplements can be found under the company's profile on SEDAR+, and a copy of the registration statement and the U.S. prospectus supplement can be found on EDGAR. Before investing, prospective investors should read the base shelf prospectus, the prospectus supplements, the registration statement and the documents incorporated by reference therein.

About Skeena Resources Ltd.

Skeena is a leading precious metals developer that is focused on advancing the Eskay Creek gold-silver project, a past-producing mine located in the renowned Golden Triangle in British Columbia, Canada. Eskay Creek will be one of the highest-grade and lowest-cost open-pit precious metals mines in the world, with substantial silver byproduct production that surpasses many primary silver mines. Skeena is committed to sustainable mining practices and maximizing the potential of its mineral resources. In partnership with the Tahltan Nation, Skeena strives to foster positive relationships with indigenous communities while delivering long-term value and sustainable growth for its stakeholders.

We seek Safe Harbor.