Skeena's Spectrum Project Yields Excellent Bench-Scale Metallurgical Recovery of Gold

| Source: Skeena Resources Limited Skeena Resources Limited

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 14, 2015) - Skeena Resources Limited (TSX VENTURE:SKE) ("Skeena" or the "Company") is pleased to report favourable preliminary bench-scale metallurgical results from the Company's 100%-owned high-grade Spectrum Gold Property in northwest British Columbia. The focus was on gold recovery by gravity concentration followed by cyanide leaching of the tailings of composite samples from two specific mineralized horizons within the Central Zone (the reader is referred to the Company website for a plan map of the drilling). Drill core reject samples from Skeena's 2014 program were delivered to the facilities of the Saskatchewan Research Council (SRC) in Saskatoon for bench-scale test work as designed by Michael Yakimchuk P. Eng. The material was re-assayed and the composites from the two zones were calculated to have a weighted head grade of 13.50 g/t Au and 10.55 g/t Au, for the QC and Porphyry Zones, respectively. A table of the individual intercept assays is set out below:

QC Zone

  • The composite head-feed sample was calculated to be 13.96 g/t Au as compared to the weighted average of 13.50 g/t for the individual drill core sample assays.
  • A gravity recovery test yielded gold recovery of 56.4%
  • An overall gold recovery of 98.8% was obtained when both gravity and subsequent cyanide leaching of the gravity tails were performed.

Porphyry Zone

  • The composite head feed sample was calculated to be 8.76 g/t Au as compared to the weighted average of 10.55 g/t for the individual drill core samples.
  • A gravity recovery test yielded gold recovery of 24.6%
  • An overall gold recovery of 91.6% when both gravity and subsequent cyanide leaching of the gravity tails were performed.

The Company is pleased that the initial metallurgical test work indicates that the high-grade units within the Central Zone are clearly non-refractory in nature. The Company has commissioned SRC to perform standard flotation tests on the remaining material and subsequent gold recovery from the sulphide concentrate. Future metallurgical work on Spectrum will be designed to determine the optimal gold processing options, which may include a combination of conventional gravity, flotation or cyanidation methods.

QC ZONE Porphyry ZONE
Drill hole
no.		 From (m) To (m) Grade Au
(g/t)		 Drill hole no. From (m) To
(m)		 Grade Au (g/t)
14-SP-003 78 79.5 3.8 14-SP-001 111 113 4.8
14-SP-003 78 79.5 7.9 14-SP-005 144 146 7.3
14-SP-003 79.5 81 73.8 14-SP-005 162 164 6.9
14-SP-003 81 83 15.4 14-SP-006 195 197 43.8
14-SP-003 83 84.5 1.0 14-SP-008 175 177 8.5
14-SP-004 106 108 4.2 14-SP-008 177 179 1.7
14-SP-004 108 110 4.7 14-SP-008 179 180 1.2
14-SP-004 110 111.4 6.8 14-SP-008 180 180.55 0.7
14-SP-004 111.4 113.4 66.0 14-SP-008 180.55 182 1.7
14-SP-004 113.4 115 0.3 14-SP-008 182 184 8.4
14-SP-004 115 117 0.7 14-SP-009 173 175 5.2
14-SP-004 117 119 0.5 14-SP-009 175 177 22.1
14-SP-004 119 121 20.4
14-SP-004 121 123 9.2
14-SP-004 123 126 3.7
14-SP-004 126 127 8.0
14-SP-004 127 129 0.4
14-SP-004 129 131 0.2
14-SP-004 131 133 22.7
14-SP-005 80 82 18.6

The Qualified Person responsible for reviewing the technical data in this news release is Michael Yakimchuk, P.Eng.

ON BEHALF OF THE BOARD OF DIRECTORS OF

SKEENA RESOURCES LIMITED

Walt Coles Jr., President & CEO

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Contact Information:

Skeena Resources Limited
Walt Coles Jr.
President & CEO
(604) 684-8725

Skeena Resources Limited
Tony Perri
Investor Relations, Manager
(604) 684-8725
(604) 669-2543 (FAX)
tperri@skeenaresources.com