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(MENAFN Editorial) VANCOUVER, BC / ACCESSWIRE / October 10, 2018 / Skeena Assets Limited (TSX-V: SKE, OTCQX: SKREF) (‘Skeena’ or the ‘Company’) is admiring to advertise added Au-Ag assignment after-effects for three assignment holes from the advancing Phase I apparent conduct affairs at the Eskay Creek Activity (‘Eskay Creek’) amid in the Golden Triangle of British Columbia. The able Phase I affairs is actuality performed in the historically assignment authentic 21A, 21C and 22 Zones. A cantankerous breadth and tabled abstracts are presented at the end of this absolution and on the Company’s website .

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Eskay Creek Phase I Conduct Highlights

Gold Agnate (AuEq) was affected with the formula: Au (g/t) [Ag (g/t) / 75]. Reported bulk lengths represent 80-100% of accurate widths and are accurate by categorical mineralization geometries acquired from absolute drilling. Breadth abounding AuEq composites were accountable by geological considerations as able-bodied as a affected 1.0 g/t AuEq appraisal brand blow d reasonable affairs for bread-and-er abstraction via accessible pit mining methods. Brand capping of alone assays has not been activated to the Au and Ag assays allegorical the breadth abounding AuEq composites. Processing recoveries accept not been activated to the AuEq adding and are appear at 100% due to a abridgement of acknowledging information. Samples beneath apprehension absolute were nulled to a bulk of zero.

Phase I Conduct Discussion

The Phase I conduct affairs on the 21A, 21C and 22 Zones is advised to infill and advance analogue in areas with low assignment anatomy to a assignment agreement acceptable to acquiesce for approaching bread-and-er analyses, and to aggregate beginning absolute for an accessible metallurgical d and testing program. As no absolute assignment bulk charcoal for any zones at Eskay Creek, new absolute charge be calm for this purpose. Overall, the metallurgical conduct affairs is advised to accumulate unbiased, adumbrative absolute that is spatially broadcast throughout the assorted zones that will ultimately be acclimated to optimize approaching bread-and-er analyses.

The 21A Area represents a cogent allocation of the pit accountable assets hosted at Eskay Creek, absolute Indicated Assets of 207,000 oz AuEq allocation 5.9 g/t AuEq and Inferred Assets of 418,000 oz AuEq allocation 4.6 g/t AuEq.

Advised to infill an breadth of Inferred Resources, three drillholes were collared on breadth 10020N, all of which intersected connected intervals of exhalative mudstone and footwall rhyolite hosted mineralization. Most notably, drillhole SK-18-009 intersected 9.49 g/t Au, 111 g/t Ag (10.97 g/t AuEq) over 42.65 metres including a subinterval aural the mudstone averaging 17.35 g/t Au, 147 g/t Ag, (19.31 g/t AuEq) over 19.65 metres. Situated anon downdip, Phase I drillholes SK-18-010 and SK-18-011 intersected 5.93 g/t Au, 166 g/t Ag (8.14 g/t AuEq) over 36.25 metres and 7.95 g/t Au, 140 g/t Ag (9.82 g/t AuEq) over 33.60 metres respectively.

The 21A Area continues to authenticate accomplished geological and brand alternation and will be added infill accomplished during the continuing Phase I affairs to 20 accent assignment spacings to advancement Inferred Assets to the Indicated category. The 21A Area is currently assignment authentic over a ample breadth barometer 420 m forth bang and 180 m bottomward dip with accurate widths alignment from 1 to 80 m in thickness.

21A and 21B Zones – Analogous Mineralization Styles

The 21B Area is geologically and geochemically agnate to the 21A Area and accounted for the aggregate of mineralization historically mined at Eskay Creek. The 21B Area occurs as a tabular, stratiform, accountability belted anatomy characterized by well-bedded, reworked sulfides and sulfosalts interbedded with unmineralized, carbonaceous argillite (mudstone). In accession to the acutely aerial adored metal grades, Eskay Creek as a whole, decidedly the 21A and 21B Zones, is acclaimed from accepted VMS deposits by the affiliation with elements of the epithermal apartment (Sb-Hg±As). Animated concentrations of Sb-Hg-As in the 21A and 21B Zones are not analogously broadcast throughout the zones but rather action as abandoned clusters due to after date localized, hydrothermal overprinting.

Although the aggregate of the mined absolute was hosted in the acquaintance mudstone, cogent unmined mineralization exists in adjacent agriculturalist structures in the footwall rhyolites (21C and Pumphouse Zones). These zones alter geochemically from the 21A and 21B Zones in that they accommodate low levels of Sb-Hg-As as compared to those hosted in the acquaintance mudstone.

21B Area Absolute Reconciliation

Underground mining at Eskay Creek was performed application the alluvion and ample mining adjustment with run of abundance absolute either formed at armpit to accomplish a apply or as absolute aircraft ore (‘DSO’), to smelters. Due to the animated concentrations of Sb-Hg-As in the 21B Zone, smelter penalties were generally prevented via aggregate with hardly beneath deleterious absolute appropriately diluting the amends elements while advancement a assisting arch grade.

Based aloft absolute centralized abstruse letters from the Eskay Creek Mine, the ambit for free affluence in 2006 were based aloft a gold bulk of US$475.00 per ounce, a argent bulk of US$8.50 per ounce and a nut bulk of US$1.50 per pound. The affirmation of whether absolute was formed on armpit against alien anon to an offsite smelter was based on mercury concentrations beneath than 200 ppm and antimony concentrations beneath than 1% for onsite milling and greater than 200 ppm mercury and greater than 1% antimony for smelter DSO. The aforementioned 2006 comminute achievement address indicates metallurgical recoveries from onsite milling of the 21B Area at 84% for gold and 96% for silver.

Despite the abundant adored metal grades and abject metal credits of the 21A Zone, in the assessment of the Company, the 21A Area was historically uneconomic due to prevailing low article prices accumulated with smelter penalties and the all-important aerial absolute brand used. As well, antimony was advised as a amends element, but now has the abeyant to action cogent by-product credits.

About Eskay Creek

In December 2017, Skeena anchored an advantage to admission 100% assimilation in the Eskay Creek property. Discovered in the Golden Triangle in 1988, the above Eskay Creek abundance produced about 3.3 actor ounces of gold and 160 actor ounces of argent at boilerplate grades of 45 g/t gold and 2,224 g/t argent and was already the world’s highest-grade gold abundance and fifth-largest argent abundance by volume.

A adored and abject metal-rich volcanogenic massive sulphide (VMS) deposit, Eskay-style mineralization has been the focus of ample appraisal action in the Golden Triangle dating aback to 1932. Appraisal programs in 1988 led to the appraisal of the 21A and 21B zones, followed by underground development of the 21B area starting in 1990 with the official aperture of the Eskay Creek abundance in 1994. Over the 14-year activity of the mine, about 2.2 actor tonnes of ore were mined with absolute grades alignment from 12 to 15 g/t AuEq for comminute ore and 30 g/t AuEq for absolute aircraft smelter ore.

Eskay is able with accomplished basement including all-weather alley admission and adjacency to the new 287-kilovolt Northwest Transmission Line. The Acreage consists of 8 mineral leases, 2 apparent leases and several unpatented mining claims accretion 6,151 hectares.

Eskay is in the acceptable area of the Tahltan Nation. Skeena has a absolute alive accord with the Tahltan Central Government (‘TCG’) and has active Appraisal and Communication Agreements with the TCG that awning the Company’s added projects in Tahltan area (see new releases anachronous September 25, 2017 and January 24, 2017).

About Skeena

Skeena Assets Limited is a inferior Canadian mining appraisal aggregation focused on developing -to-be adored and abject metal backdrop in the Golden Triangle of northwest British Columbia, Canada. The Company’s primary activities are the appraisal and development of the past-producing Snip abundance and the afresh optioned Eskay Creek mine, both acquired from Barrick. In addition, the Aggregation has completed a Preliminary Bread-and-er Assessment on the GJ copper-gold porphyry project.

On account of the Board of Directors of Skeena Assets Limited,

Walter Coles Jr. President & CEO

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Qualified Persons

Appraisal activities at the Eskay Creek Activity are administered on armpit by the Company’s Appraisal Managers, Colin Russell, P.Geo. and Adrian Newton, P.Geo. In accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects, Paul Geddes, P.Geo. Vice President Appraisal and Ability Development, is the Qualified Person for the Aggregation and has prepared, accurate and accustomed the abstruse and accurate agreeable of this account release. The Aggregation carefully adheres to CIM Best Practices Guidelines in conducting, documenting, and advertisement its appraisal activities on its appraisal projects.

Affection Affirmation – Affection Ascendancy

Already accustomed from the assignment and processed, all assignment bulk samples are sawn in half, labelled and bagged. The absolute assignment bulk is after deeply stored on site. Numbered aegis tags are activated to lab shipments for alternation of aegis requirements. The Aggregation inserts affection ascendancy (QC) samples at accustomed intervals in the sample stream, including blanks and advertence abstracts with all sample shipments to adviser class performance. The QAQC affairs was advised and accustomed by Lynda Bloom, P.Geo. of Analytic Solutions Ltd., and is overseen by the Company’s Qualified Person, Paul Geddes, P.Geo, Vice President Appraisal and Ability Development.

Assignment bulk samples are submitted to ALS Geochemistry’s analytic ability in North Vancouver, British Columbia for alertness and analysis. The ALS ability is accepted to the ISO/IEC 17025 accepted for gold assays and all analytic methods accommodate affection ascendancy abstracts at set frequencies with accustomed abstracts accepting criteria. The absolute sample is ashamed and 1kg is pulverized. Appraisal for gold is by 50g blaze appraisal admixture with diminutive assimilation (AAS) accomplishment with a lower absolute of 0.01 ppm and high absolute of 100 ppm. Samples with gold assays greater than 100ppm are re-analyzed application a 50g blaze appraisal admixture with gravimetric finish. Appraisal for argent is by 50g blaze appraisal admixture with gravimetric accomplishment with a lower absolute of 5ppm and high absolute of 10,000ppm. Samples with argent assays greater than 10,000ppm are re-analyzed application a gravimetric argent apply method. A called cardinal of samples are additionally analyzed application a 48 multi-elemental geochemical amalgamation by a 4-acid digestion, followed by Inductively Coupled Plasma Diminutive Emission Spectroscopy (ICP-AES) and Inductively Coupled Plasma Mass Spectroscopy (ICP-MS) and additionally for mercury application an aqua regia abstract with Inductively Coupled Plasma Diminutive Emission Spectroscopy (ICP-AES) finish. Samples with sulfur advertisement greater than 10% from the multi-element appraisal are re-analyzed for absolute sulfur by Leco boiler and bittersweet spectroscopy.

Cautionary agenda apropos advanced statements

Assertive statements fabricated and advice independent herein may aggregate ‘forward attractive information’ and ‘forward attractive statements’ aural the acceptation of applicative Canadian and United States balance legislation. These statements and advice are based on facts currently accessible to the Aggregation and there is no affirmation that absolute after-effects will accommodated management’s expectations. Advanced statements and advice may be articular by such agreement as ‘anticipates,’ ‘believes,’ ‘targets,’ ‘estimates,’ ‘plans,’ ‘expects,’ ‘may,’ ‘will,’ ‘could’ or ‘would’. Advanced statements and advice independent herein are based on assertive factors and assumptions regarding, amid added things, the admiration of mineral assets and reserves, the ability of ability and assets estimates, metal prices, taxation, the estimation, timing and bulk of approaching appraisal and development, basic and operating costs, the availability of financing, the cancellation of authoritative approvals, ecology risks, appellation disputes and added matters. While the Aggregation considers its assumptions to be reasonable as of the date hereof, advanced statements and advice are not guarantees of approaching achievement and readers should not abode disproportionate accent on such statements as absolute contest and after-effects may alter materially from those declared herein. The Aggregation does not undertake to amend any advanced statements or advice except as may be appropriate by applicative balance laws.

Neither TSX Venture Exchange nor the Investment Industry Authoritative Organization of Canada accepts albatross for the capability or accurateness of this release.

Table 1: Eskay Creek Activity Phase I 21A Area breadth abounding assignment aperture gold and argent composites:

FROM (M)

CORE LENGTH (M)

AG (G/T)

78.35

42.65

111

78.35

19.65

147

81.15

1.35

558

82.50

0.50

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55

83.00

1.60

163

86.00

1.50

81

87.50

1.50

126

89.00

1.32

166

90.32

0.61

1,645

96.50

1.50

23

80.25

36.25

166

87.00

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14.00

296

95.00

1.50

503

97.50

0.95

310

98.45

0.97

205

105.50

8.00

115

105.50

1.50

6

107.00

1.50

30

108.50

1.50

31

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110.00

0.92

457

110.92

1.08

310

112.00

1.50

42

81.68

33.60

140

82.59

1.41

98

84.00

1.30

197

85.30

0.85

83

93.00

1.50

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541

94.50

1.50

404

96.00

1.50

334

99.00

1.50

304

Gold Agnate (AuEq) was affected with the formula: Au (g/t) [Ag (g/t) / 75]. Reported bulk lengths represent 80-100% of accurate widths and are accurate by categorical mineralization geometries acquired from absolute drilling. Breadth abounding AuEq composites were accountable by geological considerations as able-bodied as a affected 1.0 g/t AuEq appraisal brand blow d reasonable affairs for bread-and-er abstraction via accessible pit mining methods. Brand capping of alone assays has not been activated to the Au and Ag assays allegorical the breadth abounding AuEq composites. Processing recoveries accept not been activated to the AuEq adding and are appear at 100% due to a abridgement of acknowledging information. Samples beneath apprehension absolute were nulled to a bulk of zero.

Table 2: Abundance filigree Phase I assignment aperture locations and orientations

EASTING

ELEVATION

AZIMUTH

9807.5

1043.6

89.6

9807.5

1043.6

90.8

9807.5

1043.6

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89.0

Contact:

SOURCE: Skeena Assets Limited

MENAFN1010201800703708ID1097551171

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