Common Contracts

Skeena to Acquire Mount Rainey Silver

August 10th, 2016

• Filed
  August 10th, 2016

Vancouver, BC (August 10, 2016) Skeena Resources Limited (TSX.V: SKE) (“Skeena” or the “Company”) and Mount Rainey Silver Inc. (“Mount Rainey”) (a private British Columbia corporation based in Calgary, Alberta) have entered into a definitive agreement dated August 9, 2016 (the “Definitive Agreement”) pursuant to which Skeena has agreed to issue up to 25,089,576 common shares in exchange for all of the issued and outstanding common shares of Mount Rainey by way of a Plan of Arrangement (the “Arrangement”) under the Business Corporations Act of British Columbia. Mount Rainey’s primary asset is a 100% owned portfolio of 46 Crown-granted mineral claims covering the past-producing, underground Prosperity – Porter Idaho – Silverado silver property (“Porter Idaho Project” or the “Project”) located in the Golden Triangle of northwest British Columbia in the Skeena Mining Division.