Skeena Resources Ltd T.SKE

RE: surprise of the week

[paperperson]

this one is a spec buy based on the volume and action, plus the excellent track record of the founder ron neolitzky. more than 10 percent of the stock changed hands friday and monday, havent figured out what today's does to that total. maybe 15 percent. anyway, huge turnover, huge change in attitude by mr. market. worth reading the sedar filings, especially the releases and accompanying notices of signficiant change. here is the one i think is the key, came out aug. 21-22. these are the two trenches where the drill would have started last week or so. Regards, PaperPerson For Further Information Contact: Tony Perri – Investor Relations, Manager Suite 611, 675 W. Hastings St. Vancouver, B.C., Canada V6B 1N2 Tel: [phone] Fax: [phone] Email: [e-mail] SKEENA RESOURCES LIMITED Ste. 611, 675 West Hastings Street Vancouver, British Columbia V6B 1N2 Tel: [phone] Fax: [phone] TSX.V: SKE ____________________________________________________________________________________________ News Release-August 21, 2006 Skeena Trenching Results – El Corazon, Ecuador Skeena Resources Limited (TSX.V: SKE) is pleased to report on the continuing program of trenching and sampling on its El Corazon Project in northwest Ecuador. This work is a portion of the prioritization and refinement of targets for the recently commenced diamond drill program. At the 1 x 2 Trench., located approximately 310 metres northwest of the mine adit, a new zone of argillically altered, limonitic and hematitic tuffs exhibiting weak quartz stockwork assayed 19.84 g/t Au over 24.4 metres (including 58.51 g/t Au over 8.0 m, which in turn included 132.5 g/t Au over 2 m). 90 metres to the southeast of the 1x2 Trench, at the 2x2 Trench, two anomalous zones were exposed. The western portion of this trench assayed 0.75 g/t Au over 6.2 metres while the eastern sector assayed 2.94 g/t Au over 42.0 metres (including 11.3 g/t Au over 2.0 m). A significant portion of this trench consists of a sequence of veined and silicified tuffs similar to those discovered in the highly anomalous SKE-019 Drainage System as previously reported in the July 17, 2006 Skeena Press Release.. Trenching results at the Platanal Zone did not confirm the historic sampling results and the proposed drill test of this area has been deferred. The 2006 drill program commenced on August 16th. Both the 1x2 and the 2x2 trenches will be further investigated as part of this program. Two drill holes were completed on these targets by a prior operator. At the 1x2 trench, a short vertical hole appears to have missed the mineralized sequence by being located in the footwall of the zone. At the 2x2 trench, a single drill hole apparently terminated short of the mineralized zone. The Qualified Person, as defined by National Instrument 43-101, responsible for the onsite management of the exploration program at the property and the review of this news release is David F. Reid, P. Geo. - Project Manager. ON BEHALF OF THE BOARD OF DIRECTORS OF SKEENA RESOURCES LIMITED “Ron Netolitzky” Ron Netolitzky, Director 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.