Skeena Resources Limited
TSX VENTURE : SKE

January 17, 2008 12:16 ET

Skeena Commences Drilling at Malpica Copper-Gold Project, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 17, 2007) - Skeena Resources Limited (TSX VENTURE:SKE) is pleased to announce commencement of a 5,000 metre diamond drill program on its optioned Malpica copper-gold project in Sinaloa State, Mexico (see news release May 7, 2007 for details of property acquisition).

This 7,718-hectare property, located 40 kilometres east of the deepwater port of Mazatlan and 20 km east of the Mazatlan International airport, is well situated with respect to infrastructure, being crossed by two paved highways and by a major hydro line, and situated within three kilometres of a rail line. A detailed program of historic data compilation, grid emplacement, soil geochemical sampling and geologic mapping commenced in July and is nearing completion. To date, over 4,300 geochemical samples have been obtained from 117 line kilometres of 100-metre spaced crosslines. The proposed drilling will be directed at verification and expansion of the non-National Instrument 43-101 inferred resource at the Cerro Pelon and Cerro Tunel tourmaline breccia-hosted copper-gold zones and at exploration of new geochemical targets in the immediate vicinity of the historic deposits.

Soil geochemical results indicate three, strong, coincidental copper-gold anomalies (two of which are also characterized by pronounced, coincidental Induced Polarization chargeability anomalies from historic surveys) situated within a few hundred metres of the two main zones. None of these anomalies have been previously drill tested. When the property was last explored (by Cambior Inc. in 1996), land constraints precluded access to these targets.

The Company has contracted Fugro Airborne Surveys Corp. to undertake a helicopter-borne, multifrequency Dighem electromagnetic and magnetic survey over the Malpica property. This survey will assist in exploring those areas covered with a thin mantle of recent volcanics and prioritization of exploration targets. Permits have now been received from INEGI and the survey should commence mid-February.

The company is well financed for the current program, the drilling and a proposed scoping study to be undertaken in the second quarter of 2008.

The qualified person, as defined by National Instrument 43-101, responsible for review of this news release is Rupert Allan, P.Geol., the company's president and chief executive officer.

ON BEHALF OF THE BOARD OF DIRECTORS OF SKEENA RESOURCES LIMITED

"Rupert Allan"

J. R. Allan, P.Geol., President

Cautionary Statement on Forward-Looking Information.

The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Skeena Resources Limited
    Rupert Allan
    President
    (604) 684-8725
    or
    Skeena Resources Limited
    Tony Perri
    Investor Relations, Manager
    (604) 684-8725
    (604) 669-2543 (FAX)
    tperri@skeenaresources.com