SKRR Exploration Inc. (TSX-V: SKRR) (FSE: B04Q) is pleased to announce it has entered into a definitive arm’s length acquisition agreement with Fathom Nickel Inc. (CSE: FNI) dated March 21, 2023 for the disposition of SKRR’s 100% owned Watts Lake zinc property. The Property consists of 24 mineral claims comprising a total of 13,708.11 hectares and is approximately 65 km north-east of the town of La Ronge, Saskatchewan and 20km northwest of the community of Missinipe, SK.
Terms of the Acquisition Agreement
Under the terms of the Acquisition Agreement, Fathom will acquire a 100% interest in the Property by making the following cash and share payments to SKRR:
The common shares to be issued pursuant to the Acquisition Agreement will be subject to a four month hold period from the date of issuance in accordance with applicable securities laws.
Sherman Dahl, President and CEO of SKRR, commented:
“SKRR is an asset-rich project generator, having acquired numerous high potential precious metal, and strategic base and battery metal projects, primarily focused in the province of Saskatchewan. Working with strong groups like Fathom Nickel Inc. allows SKRR to unlock hidden value within our company. Multiple occurrences of near-surface mineralization, including the historic Borys Lake lead-zinc deposit, along an extensive >14km conductive trend, make Watts Lake a very exciting property. There is not only potential for further mineralization potential but, as VMS deposits often occur in clusters, and numerous mineralized showings associated with structural conductive features on the property, there is good potential for further discoveries. Located in one of the World’s top mining jurisdictions, the shallow depth, favorable geology and proximity to major infrastructure, means there is the potential to fast-track exploration and development activity.”
Watts Lake Property Highlights
See Fathom’s news release dated March 22, 2023 for additional details regarding Fathom, the transaction and the 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.
About SKRR Exploration Inc.
SKRR is a Canadian-based precious and base 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.
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