Exhibit 99.1
Form 51-102F3
MATERIAL CHANGE REPORT
Item 1.Name and Address of Reporting Issuer
Skeena Resources Limited (the “Company”)
Suite 2600-1133 Melville Street.
Vancouver, British Columbia
V6E 4E5
Item 2.Date of Material Change
February 18, 2025 and February 26, 2025
Item 3.News Release
News releases describing the material changes were disseminated by the Company on February 18, 2025 and February 26, 2025 through Accesswire and copies were subsequently filed on SEDAR+.
Item 4.Summary of Material Change
On February 18, 2025, the Company announced it had entered into an agreement with a syndicate of underwriters led by BMO Capital Markets (the “Underwriters”), pursuant to which the Underwriters agreed to purchase, on a bought deal basis, 4,800,000 common shares of the Company (the “Common Shares”), at a price of C$14.70 per Common Share (the “Common Share Offering Price”) for aggregate gross proceeds of approximately C$70.5 million (the “Offering”).
The Company granted the Underwriters an option, exercisable in whole or in part, at any time up to 48 hours prior to closing of the Offering (“Closing”), to increase the aggregate number of Common Shares (including any Flow-Through Common Shares (as defined below)) purchased in the Offering by 15% (the “Underwriters’ Option”). Additionally, the Underwriters could elect (the “Flow-Through Election”), at any time up to 48 hours prior to Closing, to have up to 2,230,000 Common Shares issuable under the Offering (including any Common Shares issuable upon exercise of the Underwriters’ Option) to be issued as “flow-through shares” (“Flow-Through Common Shares”) within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”) at a price of C$17.93 per Flow-Through Common Share (the “Flow-Through Offering Price”).
On February 26, 2025, the Company announced it had closed the Offering of 3,290,000 Common Shares at the Common Share Offering Price and 2,230,000 Flow-Through Common Shares at the Flow-Through Offering Price, for aggregate gross proceeds of C$88,346,900. The Underwriters made the Flow-Through Election in full and exercised the Underwriters’ Option in full.
Item 5.Full Description of Material Change
5.1Full Description of Material Change
On February 18, 2025, the Company announced it had entered into an agreement with the Underwriters, pursuant to which the Underwriters agreed to purchase, on a bought deal basis,