NR: 16-05

Skeena Resources Limited (TSX.V: SKE) (“Skeena” or the “Company”) believes the allegations by Eilat Exploration Ltd. (“Eilat”) and its affiliated company Arkaroola Resources Ltd., are unfounded and without merit. Eilat filed lawsuits in the Supreme Court of British Columbia over its sale of the Spectrum gold project in northwest B.C. to Skeena pursuant to an asset purchase agreement dated October 28, 2014.

Skeena is not commenting further at this time as these matters are before the courts.

About Skeena

Skeena Resources Limited is a junior Canadian mining exploration company involved in the acquisition, exploration and development of prospective base and precious metal properties throughout western Canada. The Company’s primary activities at present are the evaluation of the high-grade Spectrum gold project and adjacent bulk-tonnage GJ copper-gold project, located in the prolific Golden Triangle of northwestern B.C. The Company recently optioned the Snip mine from Barrick Gold Corp., which is also located in the Golden Triangle. Skeena’s management includes a highly experienced team of mine-finders, including Ron Netolitzky, Chairman, who was inducted into the Canadian Mining Hall of Fame in 2015.

ON BEHALF OF THE BOARD OF DIRECTORS OF
SKEENA RESOURCES LIMITED

Walt Coles Jr., President & CEO

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.