Skeena Resources Limited announced that the Company has repurchased the 0.5% net smelter return royalty held by Barrick Gold Inc. on the Eskay Creek gold-silver Project located in the Golden Triangle of British Columbia, at a cost of CAD 17.5 million. Skeena initially granted Barrick Gold a NSR royalty of 1% over Eskay Creek in connection with the Company's acquisition of the Project. This royalty has been reduced to a 0.5% NSR as a result of this transaction.

As referenced in the Company's press release dated December 13, 2021, Skeena has granted to Franco-Nevada Corporation ("Franco-Nevada") a right of first refusal (the "ROFR") over a 0.5% NSR royalty on Eskay Creek. The ROFR granted to Franco-Nevada will be subject to a competitive auction process conducted by Skeena, in which Franco-Nevada will participate, prior to October 2, 2023. If Skeena has not sold the NSR royalty to Franco-Nevada or a third party by October 2, 2023, Franco-Nevada will have the right to purchase the royalty for CAD 22.5 million, for a period of 30 days.