SKRR EXPLORATION INC. ANNOUNCES DEBT SETTLEMENT

Trading resumes in:

Company: SKRR Exploration Inc.

SKRR Exploration Inc. (TSXV: SKRR) (FSE: B04Q) (" SKRR " or the " Company ") announces that further to its May 1, 2024 news release, the Company and Citizen Mining Corp. have mutually terminated the arm's length share exchange agreement dated May 1, 2024 .

The Company's shares will resume trading effective at market open on Tuesday, June 4, 2024.

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.

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.

This news release contains "forward–looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, statements relating to 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 maintain all necessary government permits, approvals and authorizations, decrease in the price of gold, copper, uranium 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.

SOURCE SKRR Exploration Inc.

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SKRR Exploration Inc. (TSXV: SKRR) (FSE: B04Q) (" SKRR " or the " Company ") is pleased to announce that it has entered into an arm's length share exchange agreement (the " Agreement ") with Citizen Mining Corp. (" Citizen ") and each of the shareholders of Citizen (the " Vendors ") dated May 1, 2024 pursuant to which the Company will acquire (the " Acquisition ") all of the issued and outstanding shares of Citizen (the " Citizen Shares "), a private British Columbia incorporated company, that holds an option (the " Option ") to acquire a one hundred percent (100%) interest in and to eleven (11) mineral claims in Saskatchewan known as the Bishop Lake Uranium Property (the " Property "). The Property is located in Saskatchewan, Canada . Citizen holds the Option pursuant to a property sale agreement (the " Sale Agreement ") with Doctors Investment Group Ltd. (the " Seller ") dated April 14, 2024 a private British Columbia incorporated company that is the legal, beneficial and registered holder of the mineral claims comprising the Property.

Not for distribution to United States Newswire Services or for dissemination in the United States

 SKRR Exploration Inc. (TSXV: SKRR) (FSE: B04Q) (" SKRR " or the " Company ") is pleased to announce that it has closed the first tranche (the " First Tranche ") of its previously announced private placement (the " Private Placement ") (see news release dated March 4, 2024 ), consisting of 1,800,000 units (" Units ") at price of $0.10 per Unit and 583,332 critical mineral exploration tax credit (" CMETC ") flow-through units (" FT Units ") at a price of $0.12 per FT Unit, for aggregate gross proceeds of $250,000 . Each Unit is comprised of one common share (a " Share ") and one transferable common share purchase warrant (a " Warrant "). Each FT Unit consists of one common share to be issued as a "flow-through share" within the meaning of the Income Tax Act ( Canada ) (a " FT Share ") and one Warrant. Each Warrant entitles the holder thereof to purchase one common share of the Company (a " Warrant Share ") at a price of $0.15 at any time on or before the date which is 36 months following the closing date of the First Tranche.

SKRR Exploration Inc. (TSXV: SKRR) (FSE: B04Q) (" SKRR " or the " Company ") announces a previous engagement of Red Cloud Financial Services Inc. (" Red Cloud ") for certain capital market advisory services pursuant to an advisory agreement dated December 8, 2021 (the " Agreement ") was not accepted by the TSX Venture Exchange (the " Exchange ") as it did not fully comply with Exchange policies.

Red Cloud assisted in overall marketing of the Company. Certain of the services enumerated in the Agreement constituted promotional activity within the scope of Policy 3.4 of the Exchange. The Agreement was for an initial term of twelve months and automatically renewed on a month-to-month basis until terminated by either party on thirty days' prior written notice. The Agreement was formally terminated in June 2023 . Under the engagement, Red Cloud was paid an initial fee of $150,000 for the initial twelve-month period and $10,000 per month thereafter. Red Cloud is arm's length to the Company.

SKRR is a Canadian-based precious and base 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 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.

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 Agreement, and 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.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 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, copper, nickel, uranium 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.

SOURCE SKRR Exploration Inc.

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