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Skeena Provides Exploration Update and Grants Options
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Skeena Resources Limited (TSX.V: SKE) reports that on the Company's
optioned Malpica project east of Mazatlan, Sinaloa State, Mexico, a
detailed field program of grid emplacement, soil geochemical sampling
and geological mapping is nearing completion. The 7,718 hectare
property is well situated with respect to infrastructure being crossed
by a paved highway, by a major hydro line, and within 1 kilometre of a
rail line. In November, these investigations will be followed up with a
trenching program to define drill targets. A minimum 5,000 metre
diamond drill program has been contracted and is scheduled to commence
at the beginning of January. This will be directed at verification and
expansion of the non 43-101 resource at Cerro Pelon and Cerro Tunel
copper-gold zones (refer to news release of May 7, 2007) and at
exploration of new targets in the vicinity of the historic deposits.
This program will constitute the first stage of a Scoping Study which
should be completed by the end of the second quarter of 2008.
A prospecting and geochemical sampling program has recently been
completed on the Company's 100% owned Blackhorn property, located 40
km south-southeast of Tatla Lake in the Coast Mountains of west-central
British Columbia. Analytical results will be reported upon receipt.
The Company is well financed for the current programs, with working
capital of $2.7 million.
In accordance with the Company's stock option plan, Skeena is granting
1,970,000 incentive stock options at an exercise price of $0.40 per
share for a period of five years from the date of grant to directors,
employees and consultants. Reflecting the Company's increasingly active
role in Mexico, 850,000 of the options were granted to new employees
and consultants. These options are subject to vesting over a period of
one year. Any shares issued under the option plan will be subject to a
four-month hold from the date of grant, pursuant to the policies of the
TSX Venture Exchange.
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.
For Further Information Contact: Rupert Allan or Tony Perri -- Investor
Relations, Manager Suite 611, 675 W. Hastings St. Vancouver, B.C.,
Canada V6B 1N2 Tel: (604) 684-8725 Fax: (604) 669-2543 Email:
tperri@skeenaresources.com
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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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