Skeena Gold & Silver Secures the BC Mines Act Permit Following the Receipt of the Environmental Assessment Certificate for Eskay Creek

Rhea-AI Summary

Skeena Gold & Silver (TSX: SKE; NYSE: SKE) received its British Columbia Mines Act Permit for the 100%‑owned Eskay Creek gold‑silver project on Jan 28, 2026.

The MA follows a Section 7 Declaration Act agreement with the Tahltan Central Government. The company expects the final Environmental Management Act permit in February 2026, targeting initial production in Q2 2027.

Positive

• Mines Act permit received on Jan 28, 2026
• 100% ownership of Eskay Creek project
• Expected EMA permit in February 2026
• Targeting initial production Q2 2027
• Section 7 Declaration Act agreement with Tahltan Central Government

Negative

• EMA permit still pending, not yet issued
• Production timeline contingent on final EMA approval

News Market Reaction

+4.52%

4 alerts

+4.52% News Effect

+$184M Valuation Impact

$4.25B Market Cap

0.1x Rel. Volume

On the day this news was published, SKE gained 4.52%, reflecting a moderate positive market reaction. Our momentum scanner triggered 4 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $184M to the company's valuation, bringing the market cap to $4.25B at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Project ownership: 100%-owned Section 7 agreement: Section 7 Initial production timing: Q2 2027

3 metrics

Project ownership 100%-owned Eskay Creek Gold-Silver Project ownership by Skeena

Section 7 agreement Section 7 B.C. Declaration Act agreement supporting permitting framework

Initial production timing Q2 2027 Anticipated start of initial production at Eskay Creek

Market Reality Check

Price: $31.43 Vol: Volume 1,371,391 is 30% a...

normal vol

$31.43 Last Close

Volume Volume 1,371,391 is 30% above the 20-day average of 1,055,760, indicating elevated interest ahead of this permit milestone. normal

Technical Price at 33.40 is trading above the 200-day MA of 17.46 and sits 1.07% below the 52-week high of 33.76.

Peers on Argus

SKE gained 4.05% while peers were mixed: MTRN -0.93%, TMC +2.35%, VZLA +1.06%, I...

SKE gained 4.05% while peers were mixed: MTRN -0.93%, TMC +2.35%, VZLA +1.06%, IPX +1.39%, PPTA +5.3%. The move appears more company-specific around Eskay Creek permitting than a uniform sector rotation.

Historical Context

5 past events · Latest: Dec 15 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 15	IBA support vote	Positive	+0.7%	Tahltan Nation membership voted in favour of Eskay Creek Impact Benefit Agreement.
Nov 13	Q3 2025 earnings	Neutral	-1.7%	Release of Q3 2025 financials and notice of senior exploration executive departure.
Oct 08	Financing closed	Negative	+6.9%	Closure of C$143.8M bought deal share financing to fund Eskay Creek advancement.
Oct 03	Prospectus supplement	Negative	+3.9%	Filed prospectus supplement for ~C$125M bought deal equity offering with over-allotment.
Oct 01	Financing announced	Negative	-0.3%	Announced C$125M bought deal financing causing about 4.5% dilution to shareholders.

Pattern Detected

Recent history shows mixed reactions: permitting/partnership progress around Eskay Creek tends to see modest positive alignment, while equity financings sometimes trade counter to their generally dilutive nature.

Recent Company History

Over the past few months, Skeena has focused on advancing the Eskay Creek project and its funding. A December 2025 vote by the Tahltan Nation supported an Impact Benefit Agreement, with a mild +0.65% price reaction. Multiple bought-deal financings in October 2025 raised over C$125M to fund Eskay Creek, producing both positive (+6.89%, +3.89%) and slightly negative (-0.27%) moves. Today’s Mines Act permit builds directly on this permitting and partnership trajectory toward development.

Market Pulse Summary

This announcement marks a key regulatory milestone, with Skeena receiving the B.C. Mines Act permit ...

Analysis

This announcement marks a key regulatory milestone, with Skeena receiving the B.C. Mines Act permit for its 100%-owned Eskay Creek project and signaling expected EMA approval before targeting initial production in Q2 2027. It follows Tahltan Nation support for an Impact Benefit Agreement and substantial financings to advance development. Investors may track completion of the EMA process, remaining construction and capital milestones, and continued partnership with the Tahltan Nation as key indicators of execution.

Key Terms

mines act permit, environmental assessment certificate, environmental management act

3 terms

mines act permit regulatory

"receipt of its British Columbia (“B.C.”) Mines Act Permit (“MA”) for the Company’s"

A mines act permit is a government authorization required to explore, develop or operate a mine under a jurisdiction’s mining laws, setting conditions for safety, land use, environmental protection and worker welfare. For investors it matters because the permit determines whether a project can legally produce revenue, how quickly operations can start, and what ongoing costs or restrictions will apply — like having both a driver’s license and a building permit before you can safely and legally use a vehicle and occupy a new house.

environmental assessment certificate regulatory

"Secures the BC Mines Act Permit Following the Receipt of the Environmental Assessment Certificate"

An environmental assessment certificate is an official document showing that a project or operation has passed a government review of its likely effects on air, water, wildlife and local communities. Think of it like a safety inspection for a building: it signals whether work can proceed, what limits or fixes are required, and what ongoing monitoring is needed. Investors care because the certificate affects whether a project can move forward, how much it will cost, the timing of returns, and the risk of fines, delays or reputational damage.

environmental management act regulatory

"joint permitting application under the British Columbia Mines Act and Environmental Management Act."

A legislative framework that sets rules for how companies and authorities must prevent pollution, manage natural resources, issue permits, and clean up environmental harm. It matters to investors because these rules determine compliance costs, project approval timelines, legal liabilities, and reputational risk—like building codes for a house, following them avoids fines and expensive repairs, while violations can halt operations or create large, unexpected costs.

AI-generated analysis. Not financial advice.

VANCOUVER, British Columbia, Jan. 28, 2026 (GLOBE NEWSWIRE) -- Skeena Resources Limited (TSX: SKE, NYSE: SKE) (“Skeena Gold & Silver”, “Skeena” or the “Company”) is pleased to announce the receipt of its British Columbia (“B.C.”) Mines Act Permit (“MA”) for the Company’s 100%-owned Eskay Creek Gold-Silver Project (“Eskay” or the “Project”) located in Northwestern B.C., Canada. The receipt of the MA builds upon B.C.’s first Section 7 Declaration Act agreement, entered into jointly with the Tahltan Central Government.

The B.C. Major Mines Act permit forms part of a joint permitting application under the British Columbia Mines Act and Environmental Management Act. The application under the Environmental Management Act (“EMA”) is currently under review, and, upon issuance, these permits will constitute the final key regulatory approvals required for the commercial development and operation of Eskay Creek. The Company anticipates receipt of the final EMA permit in February of this year, enabling initial production at Eskay Creek in the second quarter of 2027.

About Skeena

Skeena is a leading precious metals developer that is focused on advancing the Eskay Creek Gold-Silver Project – a past producing mine located in the renowned Golden Triangle in British Columbia, Canada. Eskay Creek will be one of the highest-grade and lowest cost open-pit precious metals mines in the world, with substantial silver by-product production that surpasses many primary silver mines. Skeena is committed to sustainable mining practices and maximizing the potential of its mineral resources. In partnership with the Tahltan Nation, Skeena strives to foster positive relationships with Indigenous communities while delivering long-term value and sustainable growth for its stakeholders.

On behalf of the Board of Directors of Skeena Gold & Silver,

Walter Coles	Randy Reichert
Executive Chairman	President & CEO

For further information, please contact:
Galina Meleger,
Vice President Investor Relations
E: info@skeenagold.com
T: 604-684-8725
W: www.skeenagoldsilver.com

X / Facebook / LinkedIn / Instagram

Skeena’s Corporate Head office is located at Suite #2600 – 1133 Melville Street, Vancouver B.C. V6E 4E5

Cautionary note regarding forward-looking statements

Certain statements and information contained or incorporated by reference in this news release, including any information as to our strategy, projects, plans or future financial or operating performance, constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and United States securities legislation (collectively, “forward-looking statements” ). All statements other than statements of historical fact are forward-looking statements. The use of words such as “anticipate”, “believe”, “propose”, “contemplate”, “generate”, “target”, “progress”, “invest”, “continue”, “develop”, “on track”, “ongoing”, “project”, “plan”, “consider”, “estimate”, “expects”, “expect”, “potential” “may”, “might”, “will”, “could”, “should” or “would” and similar expressions identify forward-looking statements. In particular, this news release contains and incorporates by reference forward-looking statements including, but not limited to those regarding: the progress of development at Eskay, including the construction budget, schedule and required funding in respect thereof; the timing for and the Company's progress towards commencement of commercial production; the timing and receipt of approval of the Environmental Management Act that is in process; and the results of the Definitive Feasibility Study, processing capacity of the mine, anticipated mine life, probable reserves, estimated project capital and operating costs, sustaining costs, results of test work and studies, planned environmental assessments, the future price of metals, metal concentrate, and future exploration and development. Such forward-looking statements are based on material factors and/or assumptions which include, but are not limited to, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and the assumptions set forth herein and in the Company’s MD&A for the year ended December 31, 2024, its most recently filed interim MD&A, and the Company’s Annual Information Form (“AIF”) dated March 31, 2025. Such forward-looking statements represent the Company’s management expectations, estimates and projections regarding future events or circumstances on the date the statements are made, and are necessarily based on several estimates and assumptions that, while considered reasonable by the Company as of the date hereof, are not guarantees of future performance. Actual events and results may differ materially from those described herein, and are subject to significant operational, business, economic, and regulatory risks and uncertainties. The risks and uncertainties that may affect the forward-looking statements in this news release include, among others: the inherent risks involved in exploration and development of mineral properties, including permitting and other government approvals; changes in economic conditions, including changes in the price of gold and other key variables; changes in mine plans and other factors, including accidents, equipment breakdown, bad weather, legal challenges, and other project execution delays, many of which are beyond the control of the Company; environmental risks and unanticipated reclamation expenses; and other risk factors identified in the Company’s MD&A for the year ended December 31, 2024, its most recently filed interim MD&A, the AIF dated March 31, 2025 the Company’s short form base shelf prospectus dated March 19, 2025, and in the Company’s other periodic filings with securities and regulatory authorities in Canada and the United States that are available on SEDAR+ at www.sedarplus.ca or on EDGAR at www.sec.gov.

Readers should not place undue reliance on such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and the Company does not undertake any obligations to update and/or revise any forward-looking statements except as required by applicable securities laws.

FAQ

What permit did Skeena Gold & Silver (SKE) receive for Eskay Creek on January 28, 2026?

Skeena received the British Columbia Mines Act Permit (MA) for Eskay Creek on January 28, 2026. According to the company, this MA is part of a joint permitting application and follows a Section 7 Declaration Act agreement with Tahltan Central Government.

When does Skeena (SKE) expect the final Environmental Management Act permit for Eskay Creek?

Skeena expects the final Environmental Management Act (EMA) permit in February 2026. According to the company, issuance of the EMA permit would complete key regulatory approvals needed for commercial development and operation.

What is Skeena's (SKE) projected start of initial production at Eskay Creek?

Skeena is targeting initial production in the second quarter of 2027. According to the company, this timeline depends on receiving the final EMA permit and completing required pre‑production steps.

Does Skeena (SKE) fully own the Eskay Creek project and have indigenous agreements in place?

Yes, Skeena holds 100% ownership of Eskay Creek and entered a Section 7 Declaration Act agreement with the Tahltan Central Government. According to the company, the agreement formed part of the permitting framework.

How material is the January 28, 2026 Mines Act permit for Skeena (SKE) investors?

The MA is a significant regulatory milestone toward development and commercialization of Eskay Creek. According to the company, the MA plus the expected EMA permit would enable progress toward initial production in Q2 2027.