News Release – Vancouver, B.C., March 22, 2022: SKRR Exploration Inc. (TSXV: SKRR; OTC Pink: SKKRF; FSE: B04Q) (“SKRR” or the “Company”) is pleased to announce the start of an airborne magnetic survey at SKRR’s 100% owned Father Lake Project in north-central Saskatchewan (Figure 1). The Father Lake Project (the “Project”) is located ~40km northeast of the town of Stony Rapids, and ~40km to the northeast of the historic Axis Lake Nickel-Copper-Cobalt deposit, recently optioned by Rio Tinto Exploration Canada Inc. SKRR cautions that past results or discoveries on proximate lands are not necessarily indicative of the results that may be achieved on the Father Lake Property.
SKRR’s Father Lake claims overlie four magmatic sulphide bodies hosting Ni-Cu mineralization within a series of northeast trending norite sills. These mineralized zones, known as Dumas A, B, C & D, were drill defined by Strongbow Exploration Inc. in 2008-2009. Better intersections returned 2.36% Ni & 0.26% Cu over 0.5m, 1.34% Ni & 0.94% Cu over 2m, and 0.26% Ni & 0.07% Cu over 14.6m. SKRR cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person, but form a basis for ongoing work at the Father Lake Project. Further work (including geophysical surveys and drilling) is required by SKRR in order to verify the historical work on the Father Lake Project.
The Father Lake project lies along the south margin of the Grease River Shear Zone, which experienced brittle–ductile reactivation coincident with intra-continental strike–slip strain during culmination of the Trans-Hudson orogeny. The project claims are underlain by metasedimentary gneisses that have been intruded by a 3km long norite sill, varying in thickness from 215m to over 800m.
Previous geophysical work comprised ground and airborne electromagnetic and magnetic surveys, which defined preliminary drill targets on the Dumas zones.
Precision GeoSurveys has been contracted to fly a 1,042 line-km high resolution, low level helicopter-borne geophysical magnetic survey over the Father Lake project (Figure 2) with flight lines spaced at 50m. The survey will help to define areas within the Project of increased pyrrhotite sulphide mineralization, which is the primary sulphide component of magmatic nickel-sulphide deposits, and to map structural elements which are often the loci of mineralizing fluid events. It will also help direct work by field crews during future exploration programs.
The Father Lake Project is a nickel-copper exploration property located in north-central Saskatchewan, about 40km northeast of Stony Rapids, Saskatchewan. It is comprised of 9 mineral claims totalling 4,727.38 ha.
The Project has many key geological features required for hosting magmatic nickel-sulphide deposits including favourable geology, large scale structural shear zones, localized flexures and faults and numerous mineralized showings.
The scientific and technical information contained in this news release has been reviewed and approved by Ross McElroy P.Geol, a director of the Company and a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. McElroy verified the data disclosed (unless indicated otherwise) which includes a review of the sampling, analytical and test data underlying the information and opinions contained therein.
About SKRR Exploration Inc.:
SKRR is a Canadian-based precious metal explorer with properties in Saskatchewan – one of the world’s highest ranked mining jurisdictions. The primary exploration focus is on the Trans-Hudson Corridor in Saskatchewan in search of world class precious and base metal deposits. The Trans-Hudson Orogen – although extremely well known in geological terms has been significantly under-explored in Saskatchewan. SKRR is committed to all stakeholders including shareholders, all its partners and the environment in which it operates.
ON BEHALF OF THE BOARD
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements that address the geophysical survey on the Father Lake Project and the expected outcomes, follow up exploration work on the Father Lake Project, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects or intends to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, the ability to secure equipment and personnel to carry out work programs, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, the interpretation of technical and scientific data, risks related to the inherent uncertainty of exploration and development and cost estimates and the potential for unexpected costs and expenses and including those filed under the Company’s profile on SEDAR at www.sedar.com. There is a possibility that future exploration, development or mining results will not be consistent with the Company’s expectations. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather or climate conditions, decrease in the price of precious and base metals, equipment failures or failure to obtain the necessary equipment, failure to maintain all necessary government permits, approvals and authorizations, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, failure to maintain community acceptance (including First Nations), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.