Skeena Resources Limited

Financials:

Primary ticker: TSX:SKE, NYSE:SKE, FRA:RXF
Stage of development: Exploration, Development
Primary minerals: Gold, Silver
Project to promote: Eskay Creek
Project location: Golden Triangle, British Columbia, Canada
Website: www.skeenaresources.com
Corporate presentation: Click here

Skeena Resources Limited is a Canadian mining exploration and development company focused on revitalizing the past-producing Eskay Creek gold-silver mine located in Tahltan Territory in the Golden Triangle of northwest British Columbia, Canada. The Company released a Feasibility Study for Eskay Creek in September 2022 which highlights an open-pit average grade of 4.00 g/t AuEq, an after-tax NPV5% of C$1.4B, 50% IRR, and a 1-year payback at US$1,700/oz Au and US$19/oz Ag. Skeena is currently continuing exploration drilling at Eskay Creek.

Cash: ~CAD$50M
Debt: NIL

Major shareholders:

Deutsche Balaton – 14.0%
Blackrock – 11.7%
Management ownership – ~8% (diluted)

Management Profile

Kelly Earle – Senior Vice President, Corporate Development
Ms. Earle is an Investor Relations professional and a geologist. Ms. Earle spent several years in the field prior to making the transition into the corporate side of the industry. She received her Bachelor of Science in Geology from the University of British Columbia and her Certified Professional Investor Relations designation from the Ivey School of Business at Western University. She is a founding member of the British Columbia Regional Mining Alliance (BCRMA), a regional partnership between Aboriginal groups, industry and provincial government representatives to promote mining investment in the Golden Triangle of northwest BC and the Founding Industry Advisory Board Chair for CASERM (Center for Advanced Subsurface Earth Resource Models), a new I/UCRC (Industry-University Cooperative Research Center) between the Colorado School of Mines and Virginia Tech, backed by the National Science Foundation.

What is your rationale for taking part in 121 Mining Investment?

To raise investor awareness of Skeena’s high-grade, open-pit Eskay Creek project in northwest British Columbia, Canada.

What recent news would you like to highlight to investors attending?

September 2022 – Skeena Announces Repurchase of 0.5% NSR Royalty from Barrick Gold
September 2022 – Skeena Resources Announces C$30 Million Bought Deal Financing
September 2022 – Skeena Completes Robust Feasibility Study for Eskay Creek: After-Tax NPV (5%) of C$1.4B, 50% IRR and 1 Year Payback
September 2022 – Skeena Announces Multiple 21A West Zone Expansions at Eskay Creek Including 48.48 g/t AuEq over 12.12 metres
July 2022 – Skeena Welcomes Nalaine Morin as New Vice President of Sustainability
June 2022 – Groundbreaking Agreement Between Province and Tahltan Central Government Provides Further Certainty for Eskay Creek
June 2022 – Skeena Completes Acquisition of QuestEx and Concurrent Sale of Assets to Newmont
March 2022 – Skeena Announces 21A West Zone Expansion Discovery at Eskay Creek
February 2022 – Skeena Welcomes Randy Reichert as President
January 2022 – Skeena Discovers New 23 Zone at Eskay Creek

What are your key goals in 3 months, 6 months, 12 months?

3 Months:
Continuation of a fully funded, 60,000 metre exploration drilling program at Eskay Creek

6 Months:
Project Financing
Resource Update
Drill results from Eskay Creek

12 Months:
Start of Earthworks
JA1 Permit Received
Feasibility Study Update

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

British Columbia is viewed by some as a complicated mining jurisdiction due to relationships with the government and First Nations. In response to these concerns, the British Columbia Regional Mining Alliance (BC RMA) was formed. Skeena is a founding member of the BC RMA, a regional partnership between the government of British Columbia, First Nation and industry. This unique collaboration aims to promote BC mining and exploration opportunities internationally, with a focus on projects in the Golden Triangle of northwest BC.

What do you think makes your company such a compelling investment?

Eskay Creek is a world-class asset and classified as one of the highest-grade, open-pit gold-silver mines in the world. The project contains open-pit reserves of 3.85 million ounces at 4.00 g/t gold equivalent in the Proven and Probable categories. In addition, there is still significant exploration potential on the project. In 2022, Skeena scratched the surface of that potential, discovering two new mineralized zones! The company has commenced a fully funded, 60,000 metre exploration drilling program planned at Eskay Creek in 2022 to follow-up on the recent exploration success.

Given the robust project economics, exploration upside potential and high-grade at Eskay Creek, Skeena is largely undervalued.

What are the top 3 key investor takeaways?

1. Eskay Creek is a high-grade, open-pit asset in a stable geo-political region. Eskay Creek contains 3.85 million ounces of open-pit reserves at 4.00 g/t AuEq in the Golden Triangle of British Columbia, Canada.

2. Skeena has an excellent relationship with government and First Nation partners. The company is a founding member of the B.C. Regional Mining Alliance – an alliance between government, First Nations and industry to promote mining investment in the Golden Triangle.

3. Skeena is aggressively advancing Eskay Creek towards production. In September 2022, Skeena released its full Feasibility Study for Eskay Creek.