Cautionary Statement on Forward Looking Statements Certain statements made and information contained herein may constitute “forward looking information” and “forward looking statements” within the meaning of applicable Canadian and United States securities legislation, including, among other things, information with respect to this presentation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management’s expectations. Forward- looking statements and information may be identified by such terms as “anticipates”, “believes”, “targets”, “estimates”, “plans”, “expects”, “may”, “will”, “could” or “would”. Forward - looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws. The Qualified Person responsible for the technical information in this corporate presentation is the Company’s Vice -President of Operations, Michael Cathro, P.Geo, who has approved this technical information included herein. Any reference to historical estimates and resources should not be relied upon. These historical estimates are not current and a Q. P. has not done sufficient work to classify the historical estimate and Skeena is not treating the historical estimate as a current resource estimate. www.skeenaresources.com 2
Corporate Goal To consolidate properties with multi-million ounce gold potential and advance them through to feasibility and permitting. www.skeenaresources.com 3
Why Invest in Skeena Resources Ltd. > Highly experienced team of mine-finders, including Chairman Ron Netolitzky, who was inducted into the Canadian Mining Hall of Fame in 2015 > Ron was the main driver for the development of two of B.C.’s most successful, high -grade precious metals mines, the Snip Mine (1 m oz) and Eskay Creek (3.27 m oz Au and 158 m oz Ag) Strategy to add shareholder value: > Advancing two adjacent, post-discovery projects in the Golden Triangle, with good infrastructure: > Spectrum gold – High-grade and bulk tonnage deposits; maiden 43-101 resource estimate (H1 2016) > GJ copper-gold porphyry - Updated 43-101 resource estimate released Jan. 16, 2016 > 940 million lbs Cu and 1.56 million oz Au in the Measured and Indicated categories, and 312.5 million lbs Cu and 0.57 million oz Au in the Inferred category* > Actively evaluating other project acquisitions > Insiders and institutions hold approximately 90% of outstanding shares > Skeena is poised for success with four key pillars: > Visionary leadership and strong execution team > High quality projects > Strong balance sheet and continued access to capital from institutional shareholders > Community and stakeholder support *See Skeena News Release of January 14, 2016 for details of the resource estimate. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral resource estimates do not account for mineability, selectivity, mining loss and dilution. These mineral resource estimates include inferred mineral resources that are normally considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is also no certainty that these inferred mineral resources will be converted to measured and indicated categories through further drilling, or into mineral reserves, once economic considerations are applied. www.skeenaresources.com 4
Location, Access and Infrastructure North Donnelly & Donnelly (Skeena) M&I 133.7 mt @ 0.32% Cu & 0.36 g/t Au Inferred 53.7 mt @ 0.26% & 0.33 g/t Au www.skeenaresources.com 5
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Spectrum Gold > Excellent power and road infrastructure > High-grade gold zones occur within a broader halo of porphyry-style gold- copper mineralization > Host Triassic Stuhini Group volcanics & sediments at the contact of a Triassic-Jurassic porphyry intrusion > High-grade gold related to steeply dipping panels of stockwork quartz- carbonate-sulphide veinlet, extending over 650 metres of strike and over 400 m to depth > Mineralization remains open along strike and at depth; appears related to hydrothermal fluids associated with the porphyry intrusion > Its characteristics are consistent with the upper portion of an alkali porphyry-style Cu-Au deposit similar to other important deposits in the Stikine www.skeenaresources.com 7
Spectrum Gold Diamond Drill Hole Plan Map www.skeenaresources.com 8
Highlight 2015 Drill Intersections • High-grade • S15-012: 18.4 m @ 6.4 g/t Au • S15-015 26.15 m @ 8.21 g/t Au incl 3.5 m @ 44.2 g/t Au and 2.0 m @ 74.5 g/t Au • S15-022 14.9 m @ 8.97 g/t Au incl 2.9 m @ 38.51 g/t Au • S15-043 11.4 m @ 16.73 g/t Au incl 2.0 m @ 81.8 g/t Au and 4.0 m @ 46.5 g/t Au • Porphyry-style • S15-013 127 m @ 1.26 g/t Au, 5.2 g/t , 0.15% Cu • S15-014 209 m @ 1.22 g/t Au, 4.8 g/t Ag, 0.17% Cu • S15-031 224.5 m @ 0.60 g/t Au, 5.1 g/t Ag, 0.22% Cu www.skeenaresources.com 9
Spectrum Aerial View (Looking West) www.skeenaresources.com 10
Spectrum: Free Gold in Drill Core > Visible gold has been identified in about 40% of the holes logged to date in 2015. www.skeenaresources.com 11
Bench Scale Metallurgy for Gold • Completed at SRC Laboratory under M. Yakimchuk P. Eng.* • Gravity: 24.6 to 56.4% gold recovery • Gravity & Cyanide: 91.8 to 98.8% gold recovery • Gravity & Flotation 85 to 92.8% gold recovery • Conclusion: positive results from each of gravity, cyanidation and flotation tests demonstrates that there is flexibility for future mineral processing of the mineralization. Additional test work is planned. *see news releases of May 12 and July 20, 2015 www.skeenaresources.com 12
GJ Copper-Gold Project > Option to earn 100% interest from Teck and NGEx. > 38,374 Ha property, 25 km from Red Chris, which has similar geology and grades. > Excellent access and infrastructure including grid power. > Long term call option on copper and gold prices. > The Donnelly porphyry deposits have an updated, independent 43-101 Resource Estimate* of 940 million lbs Cu and 1.56 million oz Au in the Measured and Indicated categories , and 312.5 million lbs Cu and 0.57 million oz Au in the Inferred category . > Potential for expansion of Donnelly deposits to west and at depth. > 5 additional high-priority targets, 2 are drill-ready bulk tonnage copper-gold porphyry targets and 3 are high-grade gold-silver vein targets that require minimal work to bring to drill stage (see news release date Feb. 12, 2016). *See page 9 and Skeena News Release of January 14, 2016 for details of the resource estimate. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral resource estimates do not account for mineability, selectivity, mining loss and dilution. These mineral resource estimates include inferred mineral resources that are normally considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is also no certainty that these inferred mineral resources will be converted to measured and indicated categories through further drilling, or into mineral reserves, once economic considerations are applied. www.skeenaresources.com 13
Donnelly Deposits - Updated 43-101 Resource MAIN & NORTH DONNELLY ZONES - MEASURED PLUS INDICATED RESOURCE Grade > Cut-off Contained Metal Cut-off Tonnes > Cut-off (Cu %) (tonnes) Cu (%) Au (g/t) Million lbs Cu Million ozs Au 0.15 183,970,000 0.28 0.32 1135.83 1.899 0.20 133,670,000 0.32 0.36 940.23 1.560 0.25 90,170,000 0.37 0.41 725.71 1.183 0.30 60,690,000 0.41 0.45 548.67 0.880 0.35 39,400,000 0.46 0.50 397.90 0.628 0.40 25,880,000 0.50 0.54 286.47 0.448 0.45 16,150,000 0.55 0.59 195.86 0.307 0.50 9,510,000 0.60 0.66 126.66 0.202 MAIN & NORTH DONNELLY ZONES - INFERRED RESOURCE Grade > Cut-off Contained Metal Cut-off Tonnes > Cut-off (Cu %) (tonnes) Cu (%) Au (g/t) Million lbs Cu Million ozs Au 0.15 100,190,000 0.22 0.28 490.44 0.912 0.20 53,690,000 0.26 0.33 312.54 0.570 0.25 29,510,000 0.30 0.36 193.91 0.344 0.30 11,590,000 0.34 0.41 85.87 0.151 0.35 2,870,000 0.38 0.46 24.24 0.042 0.40 510,000 0.46 0.46 5.17 0.008 0.45 240,000 0.51 0.49 2.69 0.004 0.50 110,000 0.56 0.58 1.35 0.002 By Gary H.Giroux, M.A.Sc., P.Eng. For more details see January 14, 2016 Skeena news release. www.skeenaresources.com 14
GJ Copper-Gold Deposits www.skeenaresources.com 15
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