Skeena Resources (SKE) Corporate presentation summary

Project overview and development status

• Eskay Creek is advancing as a large-scale, high-grade gold and silver mine with major construction underway and 53% project completion as of April 30, 2026.

• Initial production is scheduled for Q2 2027, with commercial production expected in Q3 2027.

• Project optimization is ongoing, including pit wall steepening and integration of the Snip deposit.

• Updated NI 43-101 is anticipated in Q4 2026 to reflect mine plan improvements.

• The project has completed all major permitting and environmental assessments, including agreements with local Indigenous groups.

Financial performance and economics

• Projected annual production is 450,000 AuEq oz in years 1-5 and 370,000 AuEq oz in years 1-10, with average grades of 5.5 gpt and 4.2 gpt AuEq, respectively.

• All-in sustaining costs (AISC) are estimated at US$687/oz AuEq, placing the project at the bottom of the industry cost curve.

• At spot prices, the project delivers a 43% IRR, 1.2-year payback, and a C$2.2 billion NPV (5%).

• Financial flexibility was enhanced by a US$750 million Senior Secured Notes offering, which refinanced previous debt and repurchased 66.7% of the gold stream.

• Capital cost estimate was updated to US$659 million in 2026, reflecting design improvements, inflation, and enhanced water management.

Infrastructure and operational advantages

• The site benefits from all-weather road access, proximity to port, and low-cost hydropower at $0.06/kWh.

• Permitted tailings facility and robust water management infrastructure are in place.

• Major construction milestones include process plant installation, high-voltage power infrastructure, and employee camp completion.

• Most mining activities are performed in-house, with significant progress in earthworks and ore stockpiling.