In the news release, SKRR Exploration Commences Drilling at the F3 Uranium Clearwater West Uranium Project, Saskatchewan, issued 22-Jul-2024 by SKRR EXPLORATION INC. over PR Newswire, we are advised by the company that there was a paragraph missing, The "Grant Options" subheading and the following paragraph were added. The complete, corrected release follows:
SKRR Exploration Commences Drilling at the F3 Uranium Clearwater West Uranium Project, Saskatchewan
VANCOUVER, BC, July 22, 2024 /CNW/ - SKRR Exploration Inc. (TSXV: SKRR) (FSE: B04Q) ("SKRR" or the "Company") is pleased to announce that summer drilling has commenced to test conductors on the Clearwater West property which is located 13km to the south of Fission Uranium's Triple R uranium deposit (see SKRR's news release dated June 18, 2024).
SKRR Exploration Logo (CNW Group/SKRR EXPLORATION INC.)
Clearwater West is an early-stage exploration project prospective for uranium mineralization. The uranium mineralization model for the Clearwater West property is basement hosted and structurally controlled Athabasca Basin unconformity related deposits.
SKRR has an option to acquire up to a 70% interest in the Clearwater West Project from F3 Uranium Corp. (TSXV: FUU) ("F3").
Summary of the Clearwater West Property
The Clearwater West Project is comprised of 3 contiguous mineral claims totaling approximately 11,786 hectares and is located ~20km outside the edge and in the south-west area of the Athabasca Basin in Saskatchewan. SKRR cautions that past results or discoveries on proximate lands are not necessarily indicative of the results that may be achieved on the Clearwater West Project.
Basement hosted Athabasca unconformity related deposits often feature unique characteristics that can be identified by various geophysical surveys. A VTEM survey flown over the property in early 2014 defined electromagnetic (EM) conductors, some of which are interpreted to be possible extensions of the EM conductors identified on the PLS property immediately to the north.
F3's experienced and successful management and technical team, with a track record of three major high-grade uranium discoveries in the Athabasca Basin region since 2010 (Waterbury Lake project J Zone, PLS Triple R deposit and most recently the PLN JR Zone) will operate and manage Clearwater West.
Qualified Person
The scientific and technical contents of this news release have been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and have been reviewed and approved by Michelle McKeough, M.Sc., P.Geo., President of Terralogic Exploration Inc., a Qualified Person. Ms. McKeough has verified the data disclosed. The information provides an indication of the exploration potential of the Clearwater West Project but may not be representative of expected results.
Grant of Options
SKRR Exploration also announces the granting of incentive stock options ("Options") to certain of its directors, officers and consultants to purchase up to an aggregate 817,863 common shares of the Company at a price of $0.08 cents per common share for a period of three (3) years. The Options vest on the date of grant.
About SKRR Exploration Inc.
SKRR is a Canadian-based precious and base metal explorer with properties in 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 uranium, 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 relating to the drill program at the Clearwater West project, statements relating to the technical, financial and business prospects of the Company, its projects, its goals 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.sedarplus.ca. 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 obtain or maintain all necessary government permits, approvals and authorizations, decrease in the price of gold, copper, uranium and other metals, failure to obtain or 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.
