VANCOUVER, BC, June 9, 2022 /CNW/ - SKRR Exploration Inc. ("SKRR" or the "Company") (TSXV: SKRR) (OTC Pink: SKKRF) (FSE: B04Q) is pleased to announce it has received TSX Venture Exchange approval of the previously announced share purchase agreement to acquire all of the issued and outstanding shares of 1364991 BC Ltd., an arm's length private B.C. Company that holds an undivided 100% interest in the Nickel Peak 1 and Nickel Peak 2 claim blocks.
SKRR's 100% owned Nickel Peak claims span 3874.5 acres (1568 hectares) and is approximately 110 kilometres northwest of Fort St. James, B.C., in the Omineca mining district. Metallic mineralization includes nickel, cobalt and chromium with the documented presence of awaruite. Assays by Acme Analytical Laboratories Ltd. in 2005 returned up to 1826 ppm 1734 ppm Nickel with 1113 ppm Chromium. The good to date of the Nickel Peak claims is October 20, 2022.
Terms of the Agreement
SKRR entered into a share purchase agreement dated as of June 6, 2022, under which SKRR has purchased all of the issued and outstanding shares of 1364991 BC Ltd., an arm's length private B.C. company that holds an undivided 100% interest in the Nickel Peak 1 and Nickel Peak 2 claim blocks. As consideration for SKRR's purchase of all of the shares of 1364991 B.C. Ltd., SKRR issued three (3) million common shares, on a pro rata basis, to the shareholders of 1364991 B.C. Ltd. All SKRR common shares issued pursuant to the share purchase agreement are subject to a voluntary hold period of four months. The news release dated June 7, 2022, erroneously referenced that the share purchase agreement and 1364991 B.C. Ltd. were non-arm's length parties (the parties are arm's length). The shareholders (vendors) of 1364991 B.C. Ltd. are: (i) 1274596 B.C. Ltd. (Robert Nicholas Horsley), (ii) 1170147 B.C. Ltd. (Hani El Rayess), and (iii) 1335527 B.C. Ltd. (Daniel Terrett).
Qualified Person
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 Disclosurefor 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 British Columbia and Saskatchewan – some 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
Sherman Dahl
President & CEO
Tel: 250-558-8340
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.
Forward-Looking Information
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 Nickel Peak claims, 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, 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 nickel, 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.
SOURCE SKRR Exploration Inc.
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