Skeena Gold & Silver Signs Interconnection Agreement with Coast Mountain Hydro and Secures Access to Clean, Cost-Effective Energy Supply for Eskay Creek

Vancouver, BC (May 22, 2025) Skeena Resources Limited (TSX: SKE, NYSE: SKE) (“Skeena Gold & Silver”, “Skeena” or the “Company”) is pleased to complete a signed interconnection and transmission agreement (the “agreement”) with Coast Mountain Hydro Limited Partnership (“CMH”).  The agreement allows Skeena to connect to CMH’s transmission line for the Company’s 100%-owned Eskay Creek Gold-Silver Project (“Eskay” or the “Project”). CMH operates three run-of-river hydroelectric facilities including Forrest Kerr, McLymont Creek, and Volcano Creek Hydro Projects which provide power to the BC Hydro Northwest Transmission Line.  CMH is partly owned by the Tahltan Nation and provides clean renewable power to Tahltan communities within the Northwest British Columbia Corridor.

Randy Reichert, President & Chief Executive Officer, commented: “The agreement signed with CMH allows for power connection 17km from the Project. By securing this tie-in, we eliminate the need to construct our own transmission line and infrastructure to connect to the BC Hydro grid, saving significant capital costs. Over the past month, we’ve successfully completed the first tie-ins to the 287-kilovolt(“kV”) CMH transmission line. This gateway will enable Skeena to secure industrial electricity rates from BC Hydro of approximately CAD $0.06/ kWh for the project—a highly competitive rate that will lower both operating costs and emissions, as compared to the global mining industry standard. This agreement marks another step forward in de-risking the Project and brings us one step closer to securing clean, cost-effective power at Eskay Creek.”

The Interconnection and Transmission Service Agreement

Under this agreement, Skeena will connect to CMH’s transmission line, which is linked to the BC Hydro network. This connection will enable Skeena to purchase electricity for the Project directly from BC Hydro by paying a tolling charge to CMH. As part of the project design, Skeena will construct a substation with a 30-year design life together with metering devices to monitor the energy consumption of the project. The agreement will automatically renew every annum and can support the Project’s power requirements.

Electrical Power Connection Schedule

Over the last month, Skeena has completed the first tie-ins to the 287kV transmission line at Volcano Creek, during a planned maintenance shutdown of the CMH facilities. Continued work on the electrical power infrastructure to the Project will continue over the next 12 months, with the ring bus and transformer installation at the new Eskay substation starting in May. Power lines to the site will start this year and are expected to be completed by H2 2026.

About Skeena

Skeena is a leading precious metals developer that is focused on advancing the Eskay Creek Gold-Silver Project – a past producing mine located in the renowned Golden Triangle in British Columbia, Canada. Eskay Creek will be one of the highest-grade and lowest cost open-pit precious metals mines in the world, with substantial silver by-product production that surpasses many primary silver mines. Skeena is committed to sustainable mining practices and maximizing the potential of its mineral resources. In partnership with the Tahltan Nation, Skeena strives to foster positive relationships with Indigenous communities while delivering long-term value and sustainable growth for its stakeholders.

On behalf of the Board of Directors of Skeena Gold & Silver,

Walter Coles
Executive Chairman

Randy Reichert
President & CEO

For further information, please contact:

Galina Meleger
Vice President Investor Relations

E: info@skeenagold.com
T: 604-684-8725
W: www.skeenagoldsilver.com

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