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Skeena Proposes $3.2 Million Private Placement Financing
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Skeena Resources Limited (TSX.V: SKE) proposes to raise up to $3.2
million through a private placement issuance of up to 8 million Units
which will be sold at $0.40 CAD per unit. Each unit will be comprised
of one common share and one half of one share purchase warrant. Each
full warrant will be exercisable into one common share of the Company
at an exercise price of $0.75 for a period of two years from the
closing date. Subsequent to the expiry of the initial 4-month hold
period, the expiry of the warrants may be reduced, upon notice to
holders and at the election of the Company, if the shares trade at a
price equal to or greater than $1.00 per share for 20 consecutive
trading days. If this condition is met and the Company so elects, the
exercise period will be reduced to 25 business days from the date
notice is provided by the Company to the warrant holders.

This financing is subject to regulatory approval and finders' fees will
be paid to accredited agents on that portion of the funds raised by
third parties. The shares issued under this financing will be subject
to a hold period of four months plus one day from the date of closing
of the offering. The funds will be directed to advancing the recently
optioned Malpica copper-gold project in Mexico (financial terms and
conditions of the option are set out in the Company's news release
dated May 8, 2007), to the acquisition of new assets, and to general
working capital.

Malpica is exceptionally well situated with respect to infrastructure,
being located 30 km east of the deep-water port of Mazatlan in Sinaloa
State, is crossed by a paved highway, by a major hydro line and is
within one kilometre of a rail line.

Malpica was acquired by Asarco-Mexicana SA in 1941. The main
occurrence was first drilled in 1957 and again during the period 1969
to 1973. Subsequent to a revision in the Mexican Mining Law pertaining
to foreign ownership, Asarco abandoned the property in 1977. The
claims were acquired by private interests and further drilling was
completed under an option by Cambior Inc. in 1995 and 1996 and again
relinquished back to the State, this time in a regime of low metal
prices. The property was acquired by Industrial Minera Mexico SA de CV
(IMMSA, a division of Grupo Mexico) in 1999 in a competitive bid
process conducted under the auspices of the Direccion General de Minas.
Historic expenditures of approximately $4 million US have produced a
database of 100 drill holes totalling 17,000 metres. Trenching,
surface sampling, soil geochemistry, geophysics and limited
metallurgical testing were also conducted on the property.

A potentially open-pittable resource of 29 million tonnes grading 0.64
per cent copper has been delineated in two, granodiorite-hosted,
structurally controlled, quartz-tourmaline breccia zones, named Cerro
Tunel and Cerro Pelon. The upper portions of the two zones are
oxidized and estimated to contain eight million tonnes grading 0.8 per
cent copper, 1.01 g/t gold and 5.26 g/t silver. Both zones form
topographic highs and may be potentially exploitable in two adjacent
open pits with low waste-to-ore strip ratios.

The reader is cautioned that this historic resource does not conform to
Canada's National Instrument 43-101 requirements for reporting
purposes; as such, the Company is not treating this estimate as current
reserves or resources. These estimates should not be relied upon until
they have been verified by further due diligence and re-calculated by
an independent Qualified Person.

The sulphide facies of the Cerro Tunel and Cerro Pelon zones remain
open at depth. Additionally, a number of gold and gold-copper in soil
geochemical and geophysical anomalies have yet to be trenched or drill
investigated on this large (7,718 hectares), under-explored property.

The Company intends to undertake an aggressive program of ground
geophysics, geochemistry, trenching, an initial program of 5,000 metres
of drilling, and metallurgical test work commencing in June.

The Company also wishes to correct an error in the news release dated
May 8, 2007 in the consideration to be paid for a ninety percent
interest in Skeena Mexico S.A. de C.V. Instead of the 1 million shares
of the company to be issued on each of the 1st and 2nd anniversaries,
the correct announcement should have been 2 million shares on each of
the 1st and 2nd anniversaries.

The qualified person responsible for review of the technical aspects of
this news release is J. R. Allan, P.Geol., president and chief
executive officer of the Company.

ON BEHALF OF THE BOARD OF DIRECTORS OF
SKEENA RESOURCES LIMITED

"Rupert Allan"

J. R. Allan, P.Geol., President


Cautionary Statement on Forward-Looking Information.
The statements made in this News Release may contain certain
forward-looking statements. Actual events or results may differ from
the Company's expectations. Certain risk factors may also affect the
actual results achieved by the Company. The TSX Venture Exchange has
not reviewed and does not accept responsibility for the adequacy or
accuracy of this news release.

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Copyright (c) 2007 SKEENA RESOURCES LTD. (SKE) All rights reserved.
For more information visit our website at
http://www.skeenaresources.com/ or send mailto:info@skeenaresources.com
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