News Release – Vancouver, British Columbia, May 9, 2022 – SKRR Exploration Inc. (“SKRR” or the “Company”) (TSXV: SKRR; OTC Pink: SKKRF; FSE: B04Q) is pleased to announce the completion of a high resolution airborne magnetic survey at its Irving Lake gold project in east-central Saskatchewan (Figure 1). The Irving Project is located ~100km northeast of the town of La Ronge and is located within 10km to 20km of SSR Mining’s very successful Seabee and Santoy mines, which is Saskatchewan’s largest gold mining operation (Figure 2).
Data is currently being analyzed and results will be processed to highlight target areas for geological follow-up and targeting high priority targets for drill testing.
Previous historic work within and around Irving Lake has identified amphibolite-grade meta-volcanic and associated meta-intrusive rocks hosting well-defined shear zones. Such settings are considered positive indicators for the presence of orogenic gold deposits at Irving Lake. The host rocks and structural framework are similar to gold deposits in the region such as the nearby Seabee and Santoy deposits and the highly prospective Fisher project. This prospective geology is considered to be underexplored on the property. SKRR cautions that past results or discoveries on proximate lands are not necessarily indicative of the results that may be achieved on the Irving Lake Property.
Sherman Dahl, SKRR president and chief executive officer, stated: “We are excited to have completed the airborne survey over the Irving project area to identify and prioritize targets. With our recent and ongoing drilling success, we are confident of the potential for further significant discoveries in the well-known Saskatchewan Trans Hudson Corridor.”
Mr. Dahl added, “The Irving property exploration initiative complements our other gold properties along with our base metals assets in Saskatchewan. In addition to Gold properties, SKRR controls the Watts Lake Zinc property and the Father Lake Nickel assets.”
Precision GeoSurveys Inc. of Vancouver, B.C. completed a 4,288 line-km detailed magnetic helicopter-borne geophysical survey (Figure 2) over the Irving Project. Flight lines were spaced at 75m and were flown in a low-level systematic grid pattern over the property with lines-oriented north/south. The survey will aid with the interpretation of rock types and geological features including fault structures and alteration zones that may be associated with gold mineralization. This survey is an important step towards identifying high priority areas for future drill targets.
The Irving Project is a gold exploration property located in east-central Saskatchewan, about 100km northeast of the La Ronge, Saskatchewan. It is comprised of 24 mineral claims totaling 19,795.56ha.
The project has many key geological features required for hosting large high-grade gold deposits like Seabee and Santoy, 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 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 interpretation of the survey results on the Irving Project, and the expected outcomes, follow up exploration (drilling) work on the Irving 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 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 gold and other 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.