Skeena Resources Limited
TSX VENTURE : SKE

May 30, 2011 10:15 ET

Skeena Reports Copper & PGM Assays From Tropico Drilling, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 30, 2011) - Skeena Resources Limited (TSX VENTURE:SKE) is pleased to announce assay results of the first 8 holes from its current 5,000 metre diamond drill program on its 100% owned Tropico Project, Sinaloa State, Mexico. Encouraging results have been obtained from 11 of the 12 holes completed to date (totaling 2,800 m), out of a proposed 22 hole first phase program, on this layered mafic/ultramafic complex. Within the central portion of the Maricela – San Pablo Zone (refer to news release dated May 10, 2011), up to four parallel 16 metre to >60 metre thick horizons of mineralized pyroxenite, interspersed with barren gabbro, have been drill intersected, each yielding 0.2 to 0.5 % copper, from 0.2 g/t to 0.6 g/t PGM (platinum + palladium + gold) and an average silver content of 2 g/t. The 2 pyroxenite bands on the north side appear to have good continuity over a strike length of at least 2.5 km; the 2 horizons on the south side are less well investigated at this stage but are interpreted to have continuity over a strike length of at least 1.5 km.

Assay results are set out in the Table below, and the reader is referred to a drill plan map on the Company's website at http://www.skeenaresources.com/s/MapsandGalleries.asp?ReportID=295185.

Drill Hole
No.
From
(m)
To
(m)
Interval
(m)
% CuPGM
(Pt+Pd+Au)
ppb
Ag (g/t)
SK 11-00112.020.08.00.1852161.2
74.0104.030.00.5045733.2
128.0182.154.10.4655702.6
218.0227.09.00.2263981.8
243.0251.08.00.3272831.8
SK 11-002108.7129.120.40.4055392.3
148.6212.964.3*0.3605031.9
SK 11-003106.8123.116.30.4195492.8
SK 11-00492.9121.328.40.2354021.4
SK 11-00591.7109.818.10.3083052.3
SK 11-00621.047.026.00.2022171.6
SK 11-00761.071.010.00.2333011.3
SK 11-00887.095.08.00.3876162.3
114.6173.458.8**0.4146752.4
* Mineralization remains open at depth as the hole was stopped short ** Mineralization remains open at depth as additional assays are pending

The layered complex hosting both northern and southern horizons appears to dip vertically to steeply north. However, there is insufficient information to determine true thicknesses of the mineralized intercepts, which in all likelihood will be slightly less than the apparent lengths here reported. All of the holes to date have been drilled at -45°.

Additional drilling will test for the lateral continuity of several historic 'gaps' along the Maricela – San Pablo Zone. Also, several short shallow holes will be drilled to complete cross sections of the complex with a specific goal of testing the basal contact of the lower pyroxenite, such as beneath cross-section SK11-001 and SK11-002 and beneath cross-section SK11-007 and SK11-008.

Further drill results will be reported in batches of holes.

Quality Control

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by Rupert Allan, P.Geol., president and CEO of Skeena Resources Limited, the designated Qualified Person for this project. On site drilling supervision is provided by two independent geologists, Dr. Daniel Rubiolo of GeoServa Exploration Ltd. and Ing. Felipe Ortega Garcia of Servicios Geologicos y Mineros de-Aztlan SA de CV. A rigorous chain-of-custody and QA/QC program, consisting of the insertion of certified standard control samples, duplicates and blanks was applied to the N thin-walled diameter, sawn half-core samples. Sample preparation was handled by an Acme Analytical Laboratories facility in Guadalajara, Mexico and the analyses by Acme Analytical in Vancouver, British Columbia. Gold and the PGM elements are analyzed by fire assay with an ICP-ES finish, and 31 additional elements by ICP-AES analyses. Drill intercepts are reported as down hole lengths over widths in metres, as true widths of the various zones have not yet been reliably ascertained.

ON BEHALF OF THE BOARD OF DIRECTORS OF

SKEENA RESOURCES LIMITED

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

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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