Apr 22, 2010 - SKE Purchases Minority Interest In Mexican Subsidiary

Skeena Resources Limited (TSX.V: SKE) is pleased to announce that in support of its Mexican base and precious metals focus, it has successfully negotiated the purchase of a minority carried interest in its Mexican subsidiary, Skeena Mexico SA de CV ("Skeena Mexico") from a private, Mexico City-based engineering company, Reyna Mining Engineering ("Reyna") (refer to previous news releases dated April 25, 2007 and January 8, 2009). In consideration for the ten percent equity interest in Skeena Mexico held by Reyna, the Company will issue 500,000 common shares of Skeena Resources and settle an outstanding inter-company expense adjustment, subject to regulatory approval. Skeena Resources now owns 100% of Skeena Mexico.

This transaction is the first of a proposed series of corporate re-structurings which will include changes to the current board of directors and the acquisition of additional Mexican projects once they have been indentified.

In order to facilitate the corporate re-structuring, a director has advanced a short-term, non interest bearing loan in the amount of $50,000. A bonus of 200,000 common shares will be payable upon receipt of funds, subject to regulatory appr

View news release in PDF format: http://www.skeenaresources.com/i/pdf/NRApril22-2010.pdf

http://www.skeenaresources.com/s/NewsReleases.asp?ReportID=396076&_Type=News-Releases&_Title=Skeena-Purchases-Minority-Interest-In-Mexican-Subsidiary