Eskay Earns 80% Interest in SIB Property

TORONTO, ONTARIO--(Marketwire - Jan. 23, 2013) - Eskay Mining Corp. ("Eskay" or the "Company") (TSX VENTURE:ESK) is pleased to announce that it has earned a further 10% undivided interest in the SIB Property at Eskay Creek, British Columbia (the "Property"), under option to the Company from St Andrew Goldfields Ltd., and now holds an 80% working interest in the Property. Eskay had expended an aggregate of $3.98 million on exploration of the Property and pursuant to an amending agreement between the parties, issued a further 265,000 common shares to St Andrew Goldfields to earn its 80% interest. The parties will now enter into a joint venture for the further exploration and development of the Property. The securities issued will be legended and restricted from trading until May 23, 2013. The SIB Property encompasses 33,000 Hectares immediately adjacent to the prolific Eskay Creek mine owned by Barrick Gold. Combined with Eskay's 100% owned Corey Property to the south, it controls 46,000 Hectares or approximately 130,000 acres.

About Eskay Mining Corp:

Eskay Mining Corp. (TSX VENTURE:ESK) is a TSX Venture Exchange listed company, headquartered in Toronto, Ontario. Eskay is an exploration company focused on the exploration and development of precious and base metals in British Columbia in a highly prolific, poly metallic area known as the Eskay Rift Belt located in the "Golden Triangle", 70km northwest of Stewart, BC. The company currently holds mineral tenures in this area comprised of 177 claims (130,000 acres).

All material information on the Company may be found on its website at www.eskaymining.com and on SEDAR at www.sedar.com.

Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.