News Release – Vancouver, British Columbia – December 2, 2021:SKRR Exploration Inc. (TSXV: SKRR; OTC Pink: SKKRF; FSE: B04Q) (“SKRR” or the “Company”) previously announced the completion of a 12-hole drill program on its 100-per-cent-owned Manson Bay gold project located in the Trans Hudson corridor in east-central Saskatchewan, approximately 40 kilometres northwest of the historic mining centre of Flin Flon, on the Manitoba border. All 12 holes intersected varying degrees of mineralization within shear and brecciation zones. The Manson Bay project consists of 13 mineral claims comprising a total of approximately 4,293 hectares.
Sherman Dahl, SKRR’s chief executive officer, further stated:
“We are very pleased with our drill program and are excited to report that assay results are well underway and are expected within the next few weeks. Manson Bay stands out as one of the most advanced projects within the SKRR Exploration portfolio of projects in the Saskatchewan Trans Hudson Corridor. The Manson Bay program is moving along as planned and we have been hitting encouraging mineralization in all holes. Our geological team amended the drill plan based on new information from current drilling and has been updating the exploration model daily. New drill holes based on the refined model were also drilled. At this point, all of us are extremely excited with the drill intercepts. We are seeing interval intercepts up to 26.5 metres wide (MB21001) with significant concentrations of various sulphides. In addition, our research has uncovered the fact that Hudbay was constrained by their property boundary to the south where we have drilled stepout holes that have also hit the similar style of mineralization in shear-breccia zones. We eagerly await assay results and plan to update shareholders very soon.”
2021 Manson Bay Drill Program
QB Drilling was contracted to conduct a 1,700-metre nine-hole NQ core drill program at the Manson Bay project, and due to drilling success was expanded to 12 holes. The primary focus of the drilling was to test the historic Manson Bay gold zone, where historic drilling by Hudbay Minerals (1985) and MinGold Resources (1987 to 1988) outlined a gold-rich zone, with highlights such as historic drill hole MBO-15 that intersected 15.39 grams per tonne gold over 10.03 metres, including a high-grade interval of 23.13 g/t Au over 6.40 m.
A total of 12 holes were completed in 1,684.3 m. Ten holes targeted within the outlined historic Manson Bay gold zone over approximately 450 metres of strike, with the aim to confirm and expand upon historic results. All 10 holes intersected sulphide mineralization in multiple stacked sheared and brecciated zones, occasionally graphitic, ranging in width from 0.65 m to 26.5 m wide. Sulphide mineralization occurs in disseminated and interstitial, to stringers, fracture fillings and occasionally semi-massive to massive blebs. Sulphides generally include 1 per cent to 10 per cent pyrite and pyrrhotite, and occasionally 1 per cent to 2 per cent sphalerite and rarely galena.
Two additional holes (MB210010 and MB210011) tested along strike to the southwest approximately 300 metres and 700 metres, respectively, of the southern extent of the Manson Bay gold zone. Similar in nature to the 10 holes tested within the gold zone, the two regional holes intersected multiple shear zones with sulphide mineralization.
Samples from drill core have been split in half sections on site. One-half of the split sample has been sent for multielement analysis. The other half of the split core will remain on site for reference. Assay results are pending and will be released after they have been received and analyzed. The assay results are expected within the next two weeks and SKRR’s management thanks all SKRR shareholders for their patience in a world where assay labs are understandably backed up.
Assay results from historic holes mentioned in this news release were summarized from the SMDI descriptions and assessment reports filed with the Saskatchewan government. 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 continuing work at the Manson Bay project. Assay results from the recent drill program will be used by SKRR in order to verify the historical work on the Manson Bay project. Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject property.
Leland Option Termination
SKRR entered into a termination agreement (the “Termination Agreement”) with Taiga Gold Corp. (“Taiga”) whereby Taiga and SKRR have mutually agreed to terminate the Option Agreement on the Leland property, dated May 20, 2020 between SKRR and Taiga (the “Option Agreement”). Under the terms of the Termination Agreement, Taiga has agreed to pay SKRR $900,000 in cash to terminate the Option Agreement, effective immediately. SKRR no longer has any rights to the Leland Property nor the obligation to make cash payments, issue common shares or incur exploration expenditures nor incur a 2% NSR on the Leland property. As a result, Taiga now owns and controls a 100% interest in the Leland property. SKRR continues to have the option to acquire a 100% interest in the Irving project which is in close proximity to the Leland property.
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 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 receipt of assays from the Manson Bay Project and the expected outcomes, 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, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses and those other risks 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, failure to secure personnel and equipment for work programs, adverse weather and climate conditions, 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, decrease in the price of gold and other metals, 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.