May 2017

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Certain statements made and information contained herein may constitute “forward lookinginformation” and “forward looking statements” within the meaning of applicable Canadian andUnited States securities legislation, including, among other things, information with respect tothis presentation. These statements and information are based on facts currently available tothe Company and there is no assurance that actual results will meet management’sexpectations. Forward-looking statements and information may be identified by such terms as“anticipates”, “believes”, “targets”, “estimates”, “plans”, “expects”, “may”, “will”, “could” or“would”. Forward-looking statements and information contained herein are based on certainfactors and assumptions regarding, among other things, the estimation of mineral resourcesand reserves, the realization of resource and reserve estimates, metal prices, taxation, theestimation, timing and amount of future exploration and development, capital and operatingcosts, the availability of financing, the receipt of regulatory approvals, environmental risks, titledisputes and other matters. While the Company considers its assumptions to be reasonable asof the date hereof, forward-looking statements and information are not guarantees of futureperformance and readers should not place undue importance on such statements as actualevents and results may differ materially from those described herein. The Company does notundertake to update any forward-looking statements or information except as may be requiredby applicable securities laws.

The Qualified Persons responsible for the technical information in this presentation are MichaelCathro, P. Geo & Vice President Operations and Rupert Allan P. Geol., Director & VicePresident of Exploration, who have approved the technical information included herein. Anyreference to historical estimates and resources should not be relied upon.These are not currentand a Q.P. has not done sufficient work to classify these historical estimate and SkeenaResources Limited is not treating the historical estimate as a current resource estimate.

Forward Looking Statements

Skeena Overview The Golden Triangle in British Columbia contains;

130 million oz of gold, 800 million oz of silver, 40 billion lbs of copper

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Excellent Jurisdiction

High Quality Assets

Proven Management Team

Aggressive Exploration Programs

Strong Technical Team

Snip (past-producing high-grade gold mine) Spectrum-GJ (gold-copper porphyry, PEA April 2017) Porter Idaho (past-producing high-grade silver mine)

Discovered Eskay Creek (Canada’s highest grade gold /silver mine) and Snip (1.1M oz produced @ 27.5 g/t Au) $25 million raised for exploration since 2014

Highly experienced team of mine-finders, led by Ron Netolitzky; 2015 Canadian Mining Hall of Fame inductee

36,600 metres drilled since 2015 15,000 metres planned for Snip in 2017

Property Locations – BC’s Golden Triangle

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Excellent access to power & infrastructure:

Highway 37 paved north from Smithers

New 287 kV power line supplies low cost power

Forrest Kerr & McLymontCreek Power Station within 17 km of Snip

Red Chris mine 25 km east of Spectrum-GJ

Opening of ocean port facilities in Stewart

Infrastructure in the Golden Triangle

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Snip Gold Project Overview

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Option to acquire 100% interest from Barrick Gold in March 2016: Work commitment of $2 million completed - $3 million spent to date Negotiating environmental bond with province Title transfer expected spring 2017

Produced 1.1 million ounces of gold at average grade of 27.5 g/t from 1991 to 1999

Significant potential for remaining high-grade gold mineralization

7,180 metre exploration drill program completed in 2016

15,000 metres planned for 2017

Snip Geology

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Snip Twin Zone Workings & Vein Models

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Looking North

280,000 metres of surface & underground drilling

8,435 metres of underground ramp & haulage development

Snip Section 4665 – 200 Footwall Zone

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89.9 g/t Au surface sample

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Snip Section 4950 – 412 Zone

Snip Level 450 Plan View

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12.0 g/t Au1.1m (UG-1532)

116.23 g/t Au2.9m (UG-1511)

9.96 g/t Au3.8m (UG-1028)

245.91 g/t Au2.0m (UG-1765)

43,500 hectare gold-copper porphyry, 25 km west of Red Chris

PEA released April 2017*:

Robust economics

Updated mineral resource estimate

Excellent proximity to power & infrastructure

Conventional open-pit mining with low strip ratios

Excellent exploration potential remains with numerous targets identified

*See April 20, 2017 Skeena news release for more details

Spectrum-GJ Porphyry Project

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Spectrum-GJ PEA Economic Summary

**

*

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CAD$216 million initial CapexParameter Base Case Upside Case 1 Upside Case 2

Metal Price: Copper (US$/lb) 2.75 3.00 3.25

Gold (US$/oz) 1,250 1,300 1,350

Silver (US$/oz) 17.75 20.00 22.50

Economic Results (Pre-Tax)

NPV 8% (CAD$ millions) $546.18 $699.62 $853.86

IRR 26.6% 31.0% 35.3%

Payback (years) 3.81 3.19 2.71

Economic Results (After-Tax)

NPV 8% (CAD$ millions) $314.09 $412.99 $512.35

IRR 20.6% 23.9% 27.1%

Payback (years) 4.21 3.68 3.26US$0.75=CAD$1.00

Spectrum-GJ PEA Project Statistics

**

*

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Planned Life-of-Mine: 25 years

Production Total Plant Throughput 213.74 Mt

Proportion in Indicated Mineral Resource Category

Spectrum PitDonnelly Pit

79%96%

Average Strip Ratios Spectrum PitDonnelly Pit

0.520.86

Average Grades(Spectrum Pit ROM material)

GoldSilverCopper

0.96 g/t Au3.24 g/t Ag

0.13% Cu

Average Grades(Donnelly Pit ROM material)

GoldSilverCopper

0.32 g/t Au1.97 g/t Ag

0.28% Cu

Life of Project, AverageMetallurgical Recoveries

GoldSilverCopper

72.3%57.1%89.2%

Payable MetalGoldSilverCopper

1.62 Moz7.54 Moz

998.99 Mlb

Spectrum-GJ PEA Cost Estimates

**

*

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Capital CostsCost Centre (CAD$ millions) Initial Sustaining TotalGeneral Infrastructure & Buildings $ 69.56 $ 34.80 $ 104.36Tailings Storage Facility $ 6.72 $ 52.52 $ 59.25Donnelly Pit $ 35.13 $ 107.76 $ 142.89Spectrum Pit - $ 26.82 $ 26.82Central Processing Plant $ 66.50 $ 103.31 $ 169.81Capital Indirects $ 38.13 $ 36.94 $ 75.07Totals $ 216.05 $ 362.15 $ 578.20

Operating Costs

Cost Centre (CAD$)

Average Unit Costs (CAD$ / t mined or milled)

Stage 1(10,000 tpd)

Stage 2(20,000 tpd)

Stage 3(30,000 tpd)

Post-Production

(30,000 tpd)Spectrum + Donnelly Pits - $ 8.85 - -Donnelly Pit $ 8.28 - $ 6.51 $ 1.42Processing Plant $ 5.57 $ 6.07 $ 5.51 $ 5.51G&A $ 4.26 $ 2.69 $ 1.79 $ 1.09Totals $ 18.11 $ 17.61 $ 13.81 $ 8.02Head Office Overhead $ 0.83 $ 0.30 $ 0.26 $ 0.26

Note: Capital cost estimates are inclusive of contingencies

Note: Post-Production stage is when 21.99 Mt of marginal grade material from Donnelly pit is processed at rate of 30,000 tpd.Reclamation and closure costs (reporting to G&A) include 25% contingency.

Spectrum-GJ Updated Resource Estimate

**

*

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Spectrum Central Zone*

@ 0.40 g/t AuEq cut-off Average Grades Contained Metal

Category MillionTonnes

Au (g/t)

Ag (g/t)

Cu (%)

Gold(Moz)

Silver(Moz)

Copper(Mlb)

Indicated 31.2 0.94 2.6 0.10 0.94 2.64 67.7

Inferred 29.8 0.47 1.4 0.12 0.45 1.34 76.4

GJ Donnelly Deposit*

@ 0.15% CuEq cut-off Average Grades Contained Metal

Category MillionTonnes

Au (g/t)

Ag (g/t)

Cu (%)

Gold(Moz)

Silver(Moz)

Copper(Mlb)

Indicated 215.2 0.31 1.9 0.26 2.14 13.03 1,235.4

Inferred 28.3 0.31 1.8 0.14 0.28 1.64 85.1

*Resource calculations completed by David G. Thomas, P.Geo. See April 20, 2017 Skeena news release for more details. Metal prices of US$1,250/oz Au, US$2.75/lbCu and US$17.75/oz Ag were used along with metallurgical recovery rates of 73% for Au, 90% for Cu and 50% for Ag. Mineral resources which are not mineralreserves have not demonstrated economic viability. There is no certainty that all or any part of the mineral resources will be converted to mineral reserves.

Substantial defined resources available for project expansion (less than 20% ofSpectrum Inferred tonnage planned for extraction)

Excellent exploration potential; numerous high-grade, polymetallic vein, breccia andstockwork occurrences remain on property

Porter Idaho Silver Project

Photo courtesy of Mount Rainey Silver Inc.

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Argentiferous Galena

Excellent proximity to infrastructure

More than 6,000 m of existing underground workings

Produced 2.2 million ounces silver between 1929 - 1931 from 27,123 tonnes with recovered grades of 73.8 oz/ton (2,542 g/t Ag)

Porter Idaho Exploration Potential

Photo courtesy of Mount Rainey Silver Inc.

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Porter Idaho Historical Resource*@ 170 g/t Ag cut-off Avg. Grades Contained Metal

Category Tonnes Ag (g/t) Ag (oz)

Indicated 394,700 868 11,000,000

Inferred 88,900 595 1,700,000

*Resource calculations completed by N.C. Carter, Ph.D., P. Eng. in 2008 for Raimount Energy Inc. and re-stated for Mount Rainey Silver Inc. in 2012. See Sedar filed 43-101 dated Mar. 10, 2008 under Raimount Energy Inc. for more details

Skeena 2017 Deliverables & Budget

Near-Term Deliverables:

Snip gold vein modelling complete, drill plans announced March 2017

Spectrum-GJ NI 43-101 PEA released April 2017

Snip ownership transfer from Barrick Gold complete June 2017

Snip underground workings accessed & drilling commences June/July 2017

Porter Idaho asset sale/spin-out Ongoing

Capital raising - $9 million required for 2017 Ongoing

Initial Snip NI 43-101 Resource Estimate released End 2017

2017 BudgetSnip Drilling: 15,000 metres underground + surface $5 Million

Snip Environmental Bond $2 Million

Working Capital & Contingent $2 Million

Total $9 Million

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Skeena Capital Structure

Capital StructureCurrent Shares Outstanding 535,877,707

Market Capitalization (CAD$0.07) $37.5 Million

52 Week High $0.20

52 Week Low $0.06

Cash on Hand* $2.6 Million

Warrants (exp. July 2018 - September 2019) 68,101,528

Options (exp. November 2019 – January 2022) 53,579,438

Shares Fully Diluted 657,558,727*As of December 31, 2016. All other figures as of May 1, 2017.

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Share Price TSX.V: SKE May 1, 2016 to May 1, 2017

May ‘17

Contact Details

Kelly Earle | Vice President, Communicationskearle@skeenaresources.com | Tel: +1 604 684 8725

Skeena Resources LimitedSuite 650 – 1021 West Hastings StreetVancouver, British Columbia, Canada

V6E 0C3

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