Vancouver, BC (January 27, 2025) Skeena Resources Limited (TSX: SKE, NYSE: SKE) (“Skeena Gold & Silver”, “Skeena” or the “Company”) announces a strategic investment into TDG Gold Corp. (TSXV:TDG) (“TDG”) to advance the Greater Shasta-Newberry project (“Greater Shasta Project”) in the Toodoggone District, in British Columbia, Canada. The Greater Shasta Project is situated on the boundary of the recent discovery announced by Freeport-McMoRan Inc. (NYSE:FCX) and Amarc Resources Ltd. (TSXV:AHR) on their new gold-silver-copper “AuRORA” target and lies directly alongside the same mineralized trend. The investment in TDG is consistent with the Company’s approach of making strategic equity investments in projects with high geological potential.
Walter Coles, Executive Chairman of Skeena, commented: “This investment in TDG highlights our agility in positioning at the forefront of one of British Columbia’s most exciting exploration plays. By providing early-stage funding to TDG, we aim to support TDG’s exploration efforts to validate the Greater Shasta project. The exciting high-grade Freeport – Amarc AuRORA discovery is less than 200 meters from the border of TDG’s claims. Also importantly, both geochemical and geophysical data indicate the potential for the mineralized trend to continue over onto TDG’s 100% owned claims.”
Investment in TDG
Upon closing, Skeena will have purchased 22,000,000 TDG common shares in exchange for the sale of the Sofia Property (the “Asset Sale”), and payment of C$7,000,000 (the “Investment”). Skeena will then hold approximately 13% of the issued and outstanding common shares on a post-closing non-diluted basis. The Investment is anticipated to close on or before February 14, 2025 and is subject to other customary conditions including exchange-approval. The Sofia Property consists of approximately 9,000 hectares of mineral claims and is of particular interest to TDG as it borders the northern edge of the TDG concession boundary.
