Skeena Gold & Silver Draws US$45 Million of Funding Under Gold Stream Arrangement; Provides Progress Update on Eskay Creek

About this update from Skeena Resources Limited

[{"type":"text","content":"Skeena Gold & Silver Draws US$45 Million of Funding Under Gold Stream Arrangement; Provides Progress Update on Eskay CreekVANCOUVER, BC / ACCESSWIRE / January 6, 2025 / Skeena Resources Limited (TSX:SKE)(NYSE:SKE) (\"Skeena Gold & Silver\", \"Skeena\" or the \"Company\") collected US$45 million of gold stream funding on December 30, 2024 under its gold stream arrangement, as outlined in the Company's news release dated June 25, 2024 (the \"Gold Stream Arrangement\"). Skeena is also pleased to report continued advancement on numerous authorizations from the Province of British Columbia to support ongoing activity at the Company's 100%-owned Eskay Creek Gold-Silver Project (\"Eskay\" or the \"Project\"). To date, the Company has successfully advanced various pre-construction activities as part of the early works program.Randy Reichert, President & Chief Executive Officer of Skeena, commented: \"The current tranche of the gold stream financing will enable Skeena to continue advancing the Project, with further drawdowns anticipated throughout 2025. We are encouraged by the supportive and constructive dialogue with the Province of British Columbia, which has helped facilitate early works activities in 2024. As a result, we are progressing with our pre-development plans and proactively de-risking the Project to stay on track for production in 2027.\"US$45 Million Payment Under Gold Stream ArrangementSkeena Gold & Silver has collected the second tranche of US$45 million under the Gold Stream Arrangement. This is the second of five tranches under the previously announced US$200 million gold stream, whereby the funds were made available following receipt of the Bulk Technical Sample permits in December and the satisfaction of certain other customary conditions (see news release dated December 16, 2024). The remaining three tranches will be drawn in settlements of US$50 million, subject to the satisfaction of certain customary conditions before March 31, 2026 to support continued development of the Project.Skeena is entitled to a buyback provision to reduce the stream percentage by 66.67% by repaying the proportional deposit plus an imputed 18% IRR, for a period of 12 months following the Project completion date. The buyback provision provides the Company with flexibility and optionality to strengthen future cashflows should g...

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