Skeena Reports Fourth Quarter and Annual 2021 Financial Results

Rhea-AI Summary

Skeena Resources Limited (TSX:SKE, NYSE:SKE) announced its fourth quarter and annual financial results for 2021. The Prefeasibility Study for the Eskay Creek gold-silver mine in British Columbia revealed an average open-pit grade of 4.57 g/t AuEq, an after-tax NPV of C$1.4 billion, a 56% IRR, and a payback period of 1.4 years at US$1,550/oz gold. Ongoing drilling aims to complete a full Feasibility Study in 2022, indicating continued progress in advancing the project.

Positive

• Prefeasibility Study shows after-tax NPV of C$1.4 billion.
• Average open-pit grade of 4.57 g/t AuEq is promising.
• 56% IRR and 1.4-year payback at US$1,550/oz gold indicate strong project viability.
• Ongoing infill and exploration drilling to support full Feasibility Study in 2022.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / March 31, 2022 / Skeena Resources Limited (TSX:SKE)(NYSE:SKE) ("Skeena" or the "Company") reports fourth quarter and annual financial results for the year ended December 31, 2021. The Financial Statements, Management's Discussion and Analysis ("MD&A"), and Annual Information Form ("AIF") are available on Skeena's website and have been posted under the Company's profile on SEDAR at www.sedar.com and EDGAR at www.sec.gov.

About Skeena

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 Prefeasibility Study for Eskay Creek in July 2021 which highlights an open-pit average grade of 4.57 g/t AuEq, an after-tax NPV5% of C$1.4B, 56% IRR, and a 1.4-year payback at US$1,550/oz Au. Skeena is currently completing both infill and exploration drilling to advance Eskay Creek to a full Feasibility Study in 2022.

On behalf of the Board of Directors of Skeena Resources Limited,

Walter Coles Jr.
President & CEO

Contact Information
Investor Inquiries: info@skeenaresources.com
Office Phone: +1 604 684 8725
Company Website: www.skeenaresources.com

The scientific and technical information in this press release was approved by Paul Geddes, P.Geo., a Qualified Person as defined under National Instrument 43-101 and Vice President, Exploration and Resource Development for the Company.

Cautionary note regarding forward-looking statements

Certain statements and information contained or incorporated by reference in this press release constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation (collectively, "forward-looking statements"). These statements relate to future events or our future performance. The use of words such as "anticipates", "believes", "proposes", "contemplates", "generates", "targets", "is projected", "is planned", "considers", "estimates", "expects", "is expected", "potential" and similar expressions, or statements that certain actions, events or results "may", "might", "will", "could", or "would" be taken, achieved, or occur, may identify forward-looking statements. All statements other than statements of historical fact are forward-looking statements. Specific forward-looking statements contained herein include, but are not limited to, statements regarding the results of the PFS, completion of a feasibility study, processing capacity of the mine, anticipated mine life, probable reserves, estimated project capital and operating costs, sustaining costs, results of test work and studies, planned environmental assessments, the future price of metals, metal concentrate, and future exploration and development. Such forward-looking statements are based on material factors and/or assumptions which include, but are not limited to, 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 the assumptions set forth herein and in the Company's MD&A for the year ended December 31, 2021, and the Company's AIF dated March 31, 2022. Such forward-looking statements represent the Company's management expectations, estimates and projections regarding future events or circumstances on the date the statements are made, and are necessarily based on several estimates and assumptions that, while considered reasonable by the Company as of the date hereof, are not guarantees of future performance. Actual events and results may differ materially from those described herein, and are subject to significant operational, business, economic, and regulatory risks and uncertainties. The risks and uncertainties that may affect the forward-looking statements in this press release include, among others: the inherent risks involved in exploration and development of mineral properties, including permitting and other government approvals; changes in economic conditions, including changes in the price of gold and other key variables; changes in mine plans and other factors, including accidents, equipment breakdown, bad weather and other project execution delays, many of which are beyond the control of the Company; environmental risks and unanticipated reclamation expenses; and other risk factors identified in the Company's 2021 MD&A and AIF, and in the Company's other periodic filings with securities and regulatory authorities in Canada and the United States that are available on SEDAR at www.sedar.com or on EDGAR at www.sec.gov.

Readers should not place undue reliance on such forward-looking statements. The Company does not undertake any obligations to update and/or revise any forward-looking statements except as required by applicable securities laws.

SOURCE: Skeena Resources Limited

View source version on accesswire.com:
https://www.accesswire.com/695578/Skeena-Reports-Fourth-Quarter-and-Annual-2021-Financial-Results

FAQ

What are the financial results for Skeena Resources in Q4 2021?

Skeena Resources reported its fourth quarter financial results for 2021, emphasizing their ongoing development of the Eskay Creek project.

What is the projected NPV of the Eskay Creek mine according to Skeena's Prefeasibility Study?

The Prefeasibility Study indicates an after-tax NPV of C$1.4 billion for the Eskay Creek mine.

What is the average grade of gold-silver at Eskay Creek?

The average open-pit grade at Eskay Creek is reported to be 4.57 g/t AuEq.

What is the internal rate of return (IRR) for the Eskay Creek project?

The Prefeasibility Study outlines a 56% internal rate of return (IRR) for the Eskay Creek project.

When is Skeena Resources planning to complete a full Feasibility Study for Eskay Creek?

Skeena Resources is currently conducting drilling to advance Eskay Creek to a full Feasibility Study in 2022.