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Re: News Release - Tuesday, February 19, 2008
Skeena Acquires Copper-Platinum-Palladium-Gold Tropico Project in
Sinaloa, Mexico
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Skeena Resources Limited (TSX.V: SKE) is pleased to announce that it
has acquired two concessions and signed two agreements to consolidate
and option a majority interest in the 25,000 hectare Tropico
copper-platinum-palladium-gold project in Sinaloa State, Mexico. The
property is well located with respect to low-cost infrastructure, being
crossed by a paved highway, a major powerline, within 10 km of a rail
line, and 20 km north of the deep water port of Mazatlan.

The Tropico property covers an east-northeast striking, 17 km long by 2
to 3 km wide, Late Jurassic to Early Cretaceous Layered Mafic Igneous
Complex that intrudes Paleozoic schists (metasediments). The Complex
is cored by pyroxenite, or mixed pyroxenite-gabbro, which in turn is
enclosed by gabbro. It is intruded by Late Cretaceous to Early
Tertiary diorite, which is locally cut by quartz diorite to
granodiorite (possibly part of the Sinaloa Batholith). Late stage
Oligocene volcanics overlie much of the Complex.

The primary exploration targets are large tonnage, potentially open
pitable, low-grade zones of disseminated copper sulphide mineralization
with associated platinum, palladium and gold. These would be
preferentially deposited proximal to gabbro-pyroxenite contacts in
stratigraphically controlled zones where there is a change from
predominantly plagioclase cumulate to pyroxene cumulate (both at the
hangingwall and footwall contacts of the pyroxenite or mixed
pyroxenite-gabbro core). There is also potential for massive,
high-grade, copper-nickel-platinum-palladium-gold occurrences in
"feeder-pipe" zones or along major faults or within fold structures.

Historically, the project area has been subjected to considerable
prospecting, soil geochemistry and ground geophysics, originally by BHP
Minerals in the late 1990's, and subsequently, additional geochemistry,
extensive mechanical trenching and drilling during the period 1999 to
2002, by a joint venture comprised of Santoy Resources Ltd. and Almaden
Minerals Ltd. of Vancouver. This latter work was largely financed by
Sumitomo Metal Mining Co. Ltd. of Japan. Expenditures to date are in
the order of $4.5 million.

To date, nine sulphide occurrences have been identified at Tropico,
consisting of variable amounts of chalcopyrite, cubanite, bornite,
pyrrhotite, pyrite and minor pentlandite. Some of the better
mineralized trenches at the Maricela Occurrence were reported to assay
0.50 to 1.00 % copper (Cu) and up to 1 gram/tonne combined platinum
(Pt) + palladium (Pd) + gold (Au) (generally with a platinum to
palladium ration in the order of 0.75:1) over widths of 15 to 160
metres. Some 39 drill holes totaling approximately 6,550 metres are
reported in the Santoy-Almaden Joint Venture ("the JV") summary report
(28 core holes by the JV). The best reported drill intercepts were
0.5% Cu and 0.75 g/t Pt+Pd+Au over 38.9 metres (hole M-02-08) and 0.39
% Cu and 0.55 g/t Pt+Pd+Au over 128.1 metres (hole M-01-03) at
Maricela; and 0.54% Cu and 0.52 g/t Pt+Pd+Au over 47.0 metres and 0.82%
Cu and 0.70 g/t Pt+Pd+Au over 15.5 metres at San Pablo (hole SP-02-01).
Generally, most drill intercepts were lower grade than reported
overlying trench sampling, possibly attributable to minor supergene
enrichment (for trench and drill results, the reader is referred to
nine news releases filed by Santoy Resources Ltd. on the SEDAR website
between Jan. 19/01 and Dec. 20/02.

The project was terminated by the JV in December, 2002 due to depressed
metal prices (copper at $0.75/lb., platinum at $590/oz., palladium at
$230/oz., and gold at $345/oz.) and a proposed follow-up drill program
was never initiated.

The Project acquisition has been undertaken in three transactions.
Firstly, the Company acquired two concessions by direct application to
the government. Secondly, the Company has entered into an option
agreement with the Santoy Resources (60%) - Almaden Minerals (40%) JV
whereby Skeena may earn up to 60% interest in the JV lands and
technical database by reimbursing staking costs (approximately
$12,000), a work commitment of $3 million over 5 years ($100,000 in
year one), and issuing 1,250,000 Skeena shares over 5 years (250,000
upon regulatory approval). A 2% NSR interest is reserved for the JV,
with half of that interest purchasable for fair market value at the
time of presentation of a feasibility study. As the Skeena and Santoy
boards are not fully at arm's length, this agreement has been approved
by the independent committees of both companies.

The Company has also entered into an option to purchase 100% interest
in the interior San Pablo concession from Minera Cascabel SA de CV for
$500,000 in total cash payments over 4 years ($85,000 to be paid upon
regulatory approval), a minimum work commitment of two times the
minimum required under Mexican mining law during the period of the
agreement, and the issuance of 500,000 shares of Skeena over 4 years
(100,000 to be issued upon signing).

The Company has contracted Fugro Airborne Surveys to undertake a
helicopter-borne DIGHEM multi-frequency electromagnetic and magnetic
survey (1,100 km of 100 metre spaced lines) of the property. The
survey coverage and orientation are designed to investigate down-dip
areas of known mineralization and those areas covered by a thin mantle
of recent volcanics. The survey has been permitted, and is expected to
be flown in March, 2008.

The Qualified Person under Canada's National Securities Instrument
43-101 responsible for the content of this news release is the Company
President and CEO, J. R. Allan, P. Geol.

Elsewhere, drilling is progressing well on the Company's MALPICA
copper-gold project, located 30 km east of Mazatlan. The rig has just
been mobilized onto the 8th hole of a planned 5,000 metre program. A
Fugro DIGHEM airborne geophysical survey, to be flown in conjunction
with the Company's nearby Tropico project, is expected to be undertaken
in March. The proximity of the Malpica and Tropico projects, and their
relative stage of exploration, will allow for utilization of the same
field crew and equipment.


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, President 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) 2008 SKEENA RESOURCES LTD. (SKE) All rights reserved.
For more information visit our website at
http://www.skeenaresources.com/ or send mailto:info@skeenaresources.com
Message sent on Tue Feb 19, 2008 at 8:07:48 AM Pacific Time
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