SKRR Exploration Inc. Announces Private Placement

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SKRR EXPLORATION INC. ANNOUNCES PRIVATE PLACEMENT

Vancouver, British Columbia – January 23, 2020: SKRR Exploration Inc. (“SKRR” or the “Company”)

(TSX-V: SKRR) is pleased to announce that it intends to complete a non-brokered private placement of up

to 10,000,000 units (each a “Unit”) at a price of $0.25 per Unit for gross proceeds of up to $2,500,000 (the

“Private Placement”). Each Un it will be comprised of one common share and one -half of one common

share purchase warrant (each a “ Warrant”). Each whole Warrant is exercisable to purchase one common

share of the Company at a price of $0.50 per share for a period of 18 months from the date of closing of the

Private Placement.

The Private Placement is subject to TSX Venture Exchange approval and all securities are subject to a four

month hold period. Finder’s fees may be payable in connection with the Private Placement, all in accordance

with the policies of the TSX Venture Exchange and applicable securities laws.

The net proceeds from the Private Placement will be used for future exploration work on the Company’s

Olson Gold Project, corporate development, and general corporate and working capital purposes.

The Company also announces the granting of incentive stock options to certain of its directors, officers and

consultants to purchase up to an aggregate 1,050,000 common shares of the Company at a price of $0.30 per

common share, vesting on the date of grant and exercisable for a period of five (5) years.

About SKRR Exploration Inc.: SKRR Exploration Inc. is a mineral exploration company focused on the

acquisition, exploration and development of mineral resource properties. The Company has an option to

acquire up to 75% interest and title to the Olson Gold Project located in the La Ronge, Saskatchewan.

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 news

release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any

sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful,

including any of the securities in the United States of America. The securities have not been and will not be

registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities

laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons

(as defined in Regu lation S under the 1933 Act) unless registered under the 1933 Act and applicable state

securities laws, or an exemption from such registration requirements is available.

Cautionary Statement Regarding Forward Looking Information

This news release includ es certain statements that constitute “forward -looking information or statements” within the

meaning of applicable securities law, including without limitation, SKRR’s plans for its properties/projects, the private

placement and use of funds, other statements relating to the technical, financial and business prospects of SKRR, and other

matters.

Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates

and assumptions. These statements relate to analyses and other information that are based on forecasts of future results,

estimates of amou nts not yet determinable and assumptions of management. Any statements that express or involve

discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future

events or performance (often, but not alway s, using words or phrases such as “expects” or “does not expect”, “is

expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events

or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved), and variations of such

words, and similar expressions are not statements of historical fact and may be forward -looking statements. Forward-

looking statement are necessarily based upon a number of factors that, if untrue , could cause the actual results,

performances or achievements of SKRR to be materially different from future results, performances or achievements

express or implied by such statements. Such statements and information are based on numerous assumptions regarding

present and future business strategies and the environment in which SKRR will operate in the future, including the price

of metals and other commodities, anticipated costs and the ability to achieve goals, 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, and that third party contractors, equipment and supplies and governmental and other approvals

required to conduct SKRR’s planned exploration activities will be available on reasonable terms and in a timely manner.

While such estimates and assumptions are considered reasonable by the management of SKRR, they are inherently

subject to significant business, economic, competitive and regulatory uncertainties and risks.

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of

activity, performance or results to differ materially from those reflected in the forward -looking statements, including,

without limitation: (i) risks related to gold, and other commodity price fluctuations; (ii) risks and uncertainties relating

to the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates

and the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative

business; (v) that SKRR may lose or abandon its property interests or may fail to receive necessary licences and

permits; (vi) that environmental laws and regulations may become more onerous; (vii) that SKRR may not be able to

raise additional funds when necessary; (viii) the possibility that future exploration, development or mining results will

not be consistent with SKRR’s expectations; (ix) exploration and development risks, including risks related to accidents,

equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and

development; (x) competition; (xi) the poten tial for delays in exploration or development activities or the completion

of geologic reports or studies; (xii) the uncertainty of profitability based upon SKRR’s history of losses; (xiii) risks

related to environmental regulation and liability; (xiv) risks associated with failure to maintain community acceptance,

agreements and permissions (generally referred to as “social licence”), including local First Nations; (xv) risks relating

to obtaining and maintaining all necessary government permits, approvals and authorizations relating to the continued

exploration and development of SKRR’s projects; (xvi) risks related to the outcome of legal actions; (xvii) political and

regulatory risks associated with mining and exploration; (xix) risks related to current global financial conditions; and

(xx) other risks and uncertainties related to SKRR’s prospects, properties and business strategy. These risks, as well as

others, could cause actual results and events to vary significantly.

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, the loss

of key directors, employees, advisors or consultants, adverse weather conditions, increase in costs, equipment failures,

litigation, failure of counterparties to perform their contractual obligations and fees charged by service providers.

Investors are cautioned that forward -looking statements are not guarantees of future performance or events and,

accordingly are cautioned not to put undue reliance on forward -looking statements due to the inherent uncertainty of

such statements. The forward-looking statements included in this news release are made as of the date hereof and SKRR

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 expressly required by applicable securities legislation.