News Release – Vancouver, British Columbia – June 23, 2020:SKRR Exploration Inc. (TSXV: SKRR) (“SKRR” or the “Company”) is pleased to announce that 3 additional claims totalling 1,170 hectares have been added to the Olson gold property (the “Property”) located 100 km east of La Ronge, northern Saskatchewan.
Under the terms of the option agreement with Eagle Plains Resources Ltd. (“Eagle Plains”), SKRR may earn-in up to a 75% interest in the 5,038 – hectare Property.
As previously announced on June 2, 2020, fieldwork on the Property is underway with a DC resistivity / IP geophysical survey recently completed and geological field crews currently on the ground.
The additional 3 claims increase the Olson property to the south in the central and eastern regions. In the south-central region, the new claim covers a portion of the east-west trending Hartley Shear zone and covers the same prospective volcanic lithological package as the main Carina / Point gold showing, which returned assay values up to 9.8 g/t Au from grab samples, located a further 500m to the north-east.
Map of Olson Project – Including Additional Mineral Claims
Ross McElroy, Chairman and Chief Geologist for SKRR, commented, “The Olson project is a key property for SKRR with great potential. Building upon an already significant land package, the additional staked ground provides further opportunities for discovery.”
2020 Work Program Objectives
Phase One fieldwork has been designed to define targets for a Phase Two diamond drilling program, with planning underway for a Fall, 2020 program. Discovery Geophysics from Saskatoon has completed an 8.3 line-km DC resistivity / IP geophysical survey at the Jena-Juba and Point-Tuscan targets, with preliminary results delivered to the field crews for follow-up during Phase One. Geological fieldwork will include detailed prospecting and mapping, infill soil geochemical sampling and channel sampling of trenches.
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.
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 planned exploration work on the Olson property and work on other properties, 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, 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 those filed under the Company’s profile on SEDAR at www.sedar.com. 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 conditions, failure to maintain all necessary government permits, approvals and authorizations, 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.