Mr. Walter Coles Jr. reports

SKEENA CLOSES FIRST TRANCHE OF OVERSUBSCRIBED PRIVATE PLACEMENT

Skeena Resources Ltd., subject to acceptance of the TSX Venture Exchange, has closed the first tranche of the non-brokered private placement offering announced on Nov. 25, 2019. Skeena collected gross proceeds of approximately $11.1-million from the sale of 13,512,196 flow-through shares at a price of 82 cents per share. The company expects to close the balance of the offering on Dec. 16, 2019.

The net proceeds will be used to finance exploration activities on the company's projects in the Golden Triangle of British Columbia. All of the securities issued under the offering will be subject to a hold period of four months from the closing date. Finders' fees may be payable to qualified finders in accordance with applicable regulations.

About Skeena Resources Ltd.

Skeena Resources is a junior Canadian mining exploration company focused on developing prospective precious and base metal properties in the Golden Triangle of northwest British Columbia, Canada.

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