Skeena Resources Ltd

MINERAL EXPLORATION COMPANY

SKEENA RESOURCES

Skeena Resources Ltd.

Vancouver, BC

skeenaresources.com

CONTACTS

GENERAL INQUIRIES

Emily Milne

Engagement Coordinator 604 687 8725 engage.eskay @skeenaresources.com

LEADERSHIP

Walter Coles

President and CEO 604 684 8725 info@skeenaresources.com

ENVIRONMENT

Nigel Fisher

Senior Regulatory Affairs Manager nfisher @skeenaresources.com

EMPLOYMENT

Freda Campbell

Community Relations Manager fcampbell @skeenaresources.com

PROPERTY LOCATION & ACQUISITION DATE

Eskay Creek Project – Located at end of the Eskay Mine Road, about 125 km south of Iskut. Option Agreement was signed in 2017 and we completed acquisition of the property from Barrick in 2020.

Snip Project – Located by Bronson Camp and airstrip. Option agreement was signed in 2016 and we completed acquisition of the property from Barrick in 2017. This project is currently subject to an option agreement with Hochschild Mining PLC. Hochschild is now the operator and have an opportunity to acquire 60% of the project by meeting the obligations of the Option Agreement over the next two years.

Both projects are located near the southern border of Tahltan Territory.

COMPANY OVERVIEW & UPDATE

Any successes or challenges you’d like to share?

Skeena continued to navigate how to safely complete field work during the COVID-19 pandemic. The company had no major COVID-19 outbreaks or health & safety incidents on site in 2021.

Number of employees working on your project(s)?

Skeena has 78 direct employees. Approximately 17% of the direct employees at Skeena are Tahltan. Contractor employees are highly variable throughout the year with an approximate average of 150 people on site at any given time.

Where does the majority of your financing come from year to year? What’s the breakdown of who owns your company and what’s your company’s market cap?

Our investors are primarily in Canada, Europe, and the United States of America. We are listed on the Toronto Stock Exchange, the New York Stock Exchange and the Frankfurt Stock Exchange. Ownership of Skeena is highly diversified across many organizations and individual: institutional investors ~55%, retail Investors ~36%, and Barrick ~9%. In 2021, the Tahltan Central Government invested C$5 Million into Skeena. Market cap as of March 4, 2022 is $976 million.

PROJECT ACTIVITIES IN THE 2021 SEASON

In 2021, Skeena completed a robust Prefeasibility Study on our flagship project, Eskay Creek. We continued camp construction on the project with site logging completed by Tahltan Forestry and the completion of a 240-bed camp. The project also entered the Environmental Assessment Process in July. At our Snip Project, Hochschild Mining PLC exercised their option to earn 60% of Skeena’s Snip Project by spending ~$100 million on the project.

Other notable highlights in 2021 for Skeena include:

• March 2021 – $5 million investment from the TCG

• April 2021 – Skeena returned its mineral tenures for Spectrum to help create the Tenh Dẕetle

Conservancy

• November 2021 – Skeena commenced trading on the New York Stock Exchange • December 2021 – $30 million strategic investment from Franco Nevada

• 460 holes and 60,307 metres drilled

• Half a million hours worked

• Tender process initiated for initial project works • Execution plan for project construction completed

Above: Eskay Creek Project and Snip Project location map within Tahltan Territory.

Opposite: Skeena Crew at Eskay Creek.

Has your company purchased or sold any other properties in Tahltan Territory during the last year?

In 2021, Skeena did not purchase or sell any properties in Tahltan Territory. Hochschild Mining PLC exercised their option to earn 60% of Skeena’s Snip Project by spending approximately $100 million on the project. Skeena continues to be the owner of Snip until Hochschild completes their obligations under the option agreement.

Tentative plans and hopes for the 2022 season?

Skeena plans to complete our Full Feasibility Study for Eskay Creek in 2022. In addition, 60,000 metres of exploration drilling is planned for the project this year. The drilling will focus on both near-surface, openpit targets, and underground targets. Community engagement will once again be prioritized. We plan to expand the Tahltan Mentorship Program and launch an Entrepreneurship Program. Skeena will also continue site and road maintenance as well as camp upgrades at Eskay Creek throughout the year. Lastly, we hope to complete our Impact Benefit Agreement (IBA) in 2022.

RELATIONSHIP WITH THE TCG & TAHLTAN NATION

During the 2021 season, what involvement did TCG personnel and departments have with your company? If they were not involved, why not?

During 2021, Skeena worked closely with the Tahltan Lands Department and Tahltan Heritage Resources Environmental Assessment Team (THREAT) to ensure all Tahltan requirements on our project design and Environmental Assessment are met. Skeena and THREAT had over 117 meetings in 2021, including 20 technical workshops. Skeena also regularly engaged with the TCG Communications & External Relations Department and hosted seven virtual information sessions with over 64 Tahltan participants. We had regular meetings with the Employment & Contracting Director to discuss contract opportunities and had ongoing engagements with the TCG Education & Training Department to support the Skeena Tahltan Mentorship Program. Finally, IBA negotiations were initiated in 2021 involving various TCG Departments and the Tahltan Nation Development Corporation (TNDC) for input to the IBA contents.

In 2021, how many Tahltans did you employ? What positions did they hold in your company and what percentage of Tahltans did you employ compared to others?

In 2021, 82 Tahltans received employment at Skeena projects through direct employment or contractors, which provided 5,972 working days. Tahltans directly employed by Skeena held the following positions: Community Relations Manager, Junior Project Engineer in Training, Environmental Technician, Camp Maintenance Technician, Geological Technician, Camp Administrator, Engineering Intern, Warehouse Intern, and Investor Relations Intern. In 2021 Skeena employed 15 Tahltans directly, which was 17% of our total direct employment.

What employment opportunities, now and in the future, are available to Tahltan members?

Skeena has the goal of providing employment opportunities to Tahltans in all areas and levels of the project. All current and future job opportunities are posted on the Tahltan OnTrack website.

Why should Tahltan members want to work for you?

During Eskay Creek’s historical operations, the project had 30–35% Tahltan employment. Skeena wants to build on this legacy and do even better. We are focused on creating opportunities for people of the Tahltan Nation to develop in their career and prepare for management roles in the mining industry. We look to engage Tahltans in our project and work together to create the best project possible. Many learning experiences exist in the process of exploring, designing, and permitting a mine, and we want to capture these opportunities for Tahltan professionals and entrepreneurs. In 2020, we also began our mentorship program where young Tahltan professionals can gain experience with Skeena in our various departments to help us execute this vision. We hope our project will provide opportunities, experience, and build on the foundations and legacy of Tahltan miners.

Did you have any Tahltan contractors working for your company? What percentage of your contracting dollars went to Tahltan companies, including TNDC and their joint ventures?

Yes, we work with many Tahltan and Tahltan-affiliated contractors including Northern Labour Services, Tahltan Nation Development Corporation, Iskut Band Council, Tahltech Drilling, Konaleen Drilling, and Jiggy’s Trucking.

Do you have any outside contractors working for you? If so, who are they? Who were the primary contractors you utilized? Do they offer employment opportunities to Tahltan members?

Yes, we have outside contractors working for us, including Rugged Edge Holdings (Smithers), BV Electric (Smithers) Silver King Helicopters (Smithers), Adapt Mountain Safety (Stewart), and Omnica Drilling (Burns Lake). We encourage our contractors to connect with Tahltan companies and individuals by requiring them to demonstrate their partnerships and programs for Tahltan members in bid documents. Skeena considers the contractors record of past performance in all bid decisions. We also require contractors to track benefits to Tahltan members (employment, wages, subcontracts) and report these metrics to Skeena.