Skarb Exploration Builds Out Technical Team; Engages Ir Firm

(SKRB-CSE)

FOR IMMEDIATE RELEASE Oct 29, 2020

SKARB EXPLORATION BUILDS OUT TECHNICAL TEAM; ENGAGES

IR FIRM

Vancouver, British Columbia (October 29, 2020) – Skarb Exploration Corp. (CSE: SKRB) (“Skarb”

or the “Company”) is pleased to announce that Mr. Peter Reid has been appointed as Senior Technical

Advisor and it has also engaged Mars Investor Relations (“Mars”) as its investor relations team effective

November 1, 2020.

“We are extremely pleased that Peter Reid has agreed to join our team to provide technical geological

support to our efforts in Australia. Peter is a visionary geologist who spearheaded the efforts to acquire

the most prospective exploration licenses around the Fosterville mine in the Victorian Goldfields. Adding

Peter and his in-depth knowledge of this prospective area and with the exploration licenses in place, we

see this as key components for the Company as we build out our geological team.” stated Chris Donaldson,

CEO. “I am also pleased to engage Mars and its experienced IR team to help establish and build out our

communications platforms and engage with current and prospective shareholders.”

About Mr Peter Reid (BSc Hons, MAIG)

Mr. Reid has over 25 years’ experience in gold and base metal exploration. He has held senior and board

roles with several ASX listed exploration companies. Peter has strong exploration and generative

credentials and was part of the Minotaur Resources team which discovered the world-class Prominent Hill

copper-gold deposit that was subsequently sold to OZ Minerals. He has been involved with the

establishment of several successful start-ups such as ASX Listed Mithril Resources Limited, Petratherm

Limited, and Odin Minerals Limited.

In 2018 Peter returned to Petratherm, generating, and managing their Victorian gold project and their South

Australian copper project portfolios. He is a member of the Australian Institute of Geoscientists.

Investor Relations Engagement

The Company has retained the services of Vancouver-based Mars Investor Relations Corp. Under the terms

of the engagement agreement (the “Agreement”), the Company will compensate Mars $150,000 for the

15-month initial term of the Agreement and intends to grant Mars stock options (the “Options”) exercisable

to acquire an aggregate of 400,000 common shares at a price of $0.28 per share (subject to standard holds

and restrictions and regulatory approval). In addition, Mars and or its affiliates currently do not hold any

other securities of the company, however Mars may from time to time acquire or dispose of securities of

the Company through the market, privately or otherwise, as circumstances or market conditions warrant.

Mars is at arm’s length to Skarb Exploration Corp. and has no other relationship with the Company, except

pursuant to the Agreement.

Mars is a full-service investor relations firm with a proven track record focused on identifying and assisting

the highest quality opportunities in the metals and mining sector. The Mars team is a dynamic group of

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investor relations and mining professionals who are results oriented and believe by strategically utilizing a

global reach, they can add value to their clients and their clients’ respective shareholders. Mars builds out

comprehensive plans of action that generate awareness, attract new potential investors and align

shareholders’ expectations.

About Skarb Exploration Corp.:

Skarb Exploration, soon to be re-named Outback Goldfields Corp. (subject to regulatory approval), is

engaged in the business of mineral exploration with an objective to locate and develop economic mineral

properties. The Company has entered into an agreement to acquire a package of highly prospective gold

projects located around the Fosterville Gold mine in Victoria, Australia, from Petratherm Ltd. (ASX: PTR).

The goldfields of Fosterville are home to some of the highest grade and lowest cost mining operations in

the world.

On behalf of the board,

~signed

Chris Donaldson, CEO

Tel: (604) 813-3931

Email: [email protected]

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS

This news release includes certain “forward -looking statements” under applicable Canadian securities

legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and

conditions of the proposed Transaction; the terms and conditions of the proposed Private Placement; use of

proceeds from the Private Placement; and the business and operations of the Company after the proposed

Transaction. Forward-looking statements are necessarily based upon a number of estimates and assumptions

that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which

may cause the actual results and future events to differ materially from those expressed or implied by such

forward-looking statements. Such factors include, but are not limited to: general business, economic,

competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory

approvals; the price of gold and copper; and the results of current exploration. There can be no assurance that

such statements will prove to be accurate, as actual results and future events could differ materially from those

anticipated in such statements. Accordingly, readers should not place undue reliance on forward -looking

statements. The Company disclaims any intention or obligation to update or revise any forward -looking

statements, whether as a result of new information, future events or otherwise, except as required by law.

Completion of the Transaction is subject to a number of conditions. The Transaction cannot close unless such

conditions are satisfied or waived. There can be no assurance that the Transaction will be completed as proposed

or at all.

Investors are cautioned that, except as disclosed in the listing statement to be prepared in connection with the

Transaction, any information released or received with respect to the Transaction may not be accurate or

complete and should not be relied upon.

The Canadian Securities Exchange has in no way passed upon the merits of the proposed Transaction and has

neither approved nor disapproved the contents of this news release.