- **Skeena Resources Limited** announced a **C$125 million** bought deal financing through the sale of **5,210,000** common shares at **C$24.00** per share, led by BMO Capital Markets.  **[1713748_0001104659-25-095776_tm2527646d4_ex99-1.htm:0]** **[1713748_0001104659-25-095776_tm2527646d4_ex99-2.htm:1]** 
- The proceeds will primarily fund the continued advancement of the **Eskay Creek gold-silver project** and general corporate purposes, ensuring liquidity for permitting, which is a condition for accessing a **US$750 million** financing package from Orion Resource Partners.  **[1713748_0001104659-25-095776_tm2527646d4_ex99-1.htm:0]** **[1713748_0001104659-25-095776_tm2527646d4_ex99-2.htm:1]** 
- The offering, expected to close around **October 8, 2025**, will result in approximately **4.5% dilution** to the Company's total market capitalization.  **[1713748_0001104659-25-095776_tm2527646d4_ex99-1.htm:0]** **[1713748_0001104659-25-095776_tm2527646d4_ex99-2.htm:1]** **[1713748_0001104659-25-095776_tm2527646d4_ex99-2.htm:2]** 
- As of **September 30, 2025**, the company had unaudited cash of approximately **C$105 million**.  **[1713748_0001104659-25-095776_tm2527646d4_ex99-1.htm:0]** **[1713748_0001104659-25-095776_tm2527646d4_ex99-2.htm:1]** 
- Government permitting for the Eskay Creek project is experiencing an unanticipated delay due to a BC government employee strike, while negotiations for the Impact Benefits Agreement are ongoing.  **[1713748_0001104659-25-095776_tm2527646d4_ex99-1.htm:0]** **[1713748_0001104659-25-095776_tm2527646d4_ex99-2.htm:1]**

Skeena Resources Announces C$125 Million Bought Deal Financing

- Skeena Resources is advancing its **fully financed** SK Creek project, an open-pit gold-silver mine, towards production in **2027**.  **[1713748_2137475_0]** **[1713748_2137475_1]**  The company expects to receive final permits, including the EA certificate and Major Mines Act permit, in **Q4 2025**.  **[1713748_2137475_0]** 
- The project is projected to generate **$1 billion** in annual after-tax free cash flow and **$1.7 billion** in annual EBITDA in the first five years of operation at spot prices, with an after-tax IRR of **80%** and a payback period of **0.6 years**.  **[1713748_2137475_0]** **[1713748_2137475_1]** 
- SK Creek is expected to produce approximately **450,000 ounces of gold equivalent metal** and **9.5 million ounces of silver** annually in its initial five years, with a life-of-mine grade of **5.5 grams per ton equivalent**.  **[1713748_2137475_0]** **[1713748_2137475_2]** 
- The company's current market capitalization is **$3 billion**, with a projected target valuation of **$10 billion** within two years as it moves into cash flow and production.  **[1713748_2137475_1]** **[1713748_2137475_2]**

Skeena Resources (SKE)