Skeena Resources Limited Announces Approximately C$125 Million Bought Deal Financing

Executive Summary

• Skeena Resources Limited entered into a bought‑deal equity financing agreement with BMO Capital Markets and co‑underwriters for up to 5,210,000 common shares at C$24.00 per share, targeting gross proceeds of approximately C$125 million.
• The offering includes an over‑allotment option for the underwriters to purchase an additional 15% of the shares within 30 days after closing.
• Proceeds are earmarked to advance the Eskay Creek gold‑silver project, support permitting work (including addressing delays from a BC government employee strike), and provide general corporate liquidity; the funding is expected to satisfy conditions precedent for accessing the remaining US$750 million senior loan facility with Orion Resource Partners.

Key Details

• Offering Size & Price: 5,210,000 common shares at C$24.00 per share → ~C$125 million gross proceeds.
• Over‑Allotment Option: Up to an additional 15% of the offering (≈781,500 shares) exercisable at the same price for 30 days post‑closing.
• Closing Date: Expected on or about October 8, 2025, subject to customary conditions and regulatory approvals (TSX, NYSE).
• Use of Proceeds:
• Continue construction and permitting activities at Eskay Creek.
• Provide liquidity for the balance of a US$750 million financing package with Orion Resource Partners.
• General corporate purposes.
• Liquidity Position: As of September 30, 2025, unaudited cash balances were approximately C$105 million.
• Dilution Impact: Executive Chairman Walter Coles estimates the transaction represents roughly a 4.5% dilution to Skeena’s market capitalization.
• Regulatory Filings: Shares will be offered under a prospectus supplement to the company’s Base Shelf Prospectus in Canada (excluding Quebec) and via a U.S. prospectus supplement to Form F‑10. Documents are available on SEDAR+ and EDGAR.
• Permitting & Stakeholder Updates:
• Ongoing construction at Eskay Creek throughout 2025.
• Permitting timeline delayed by BC government employee strike.
• Negotiations with the Tahltan Central Government on an Impact Benefits Agreement are ongoing; ratification vote timing remains uncertain.

Notable Quotes

• Walter Coles, Executive Chairman: “This funding provides flexibility to pursue less expensive financing alternatives compared to the existing undrawn senior secured loan facility and represents approximately 4.5% dilution to the Company's total market capitalization.”