SKRR Exploration Inc. Amends Definitive Option Agreement with F3 Uranium Corp. for the Clearwater West Project, Saskatchewan

SKRR Exploration Inc. Amends Definitive

Option Agreement with F3 Uranium Corp. for

the Clearwater West Project, Saskatchewan

VANCOUVER, BC

,

Jan. 10, 2024

/CNW/ - SKRR Exploration Inc. (TSXV: SKRR) (FSE:

B04Q) ("

SKRR

" or the "

Company

") announces that it has entered into an amendment agreement

(the "

Amendment Agreement

") dated

January 8, 2024

in respect of the option agreement (the

"

Option Agreement

") dated

May 25, 2023

(the "

Effective Date

") with F3 Uranium Corp. (TSXV:

FUU) ("

F3

") to acquire up to a 70% interest in the Clearwater West Property (see SKRR news

release dated

May 26, 2023

). The Clearwater West Property is comprised of 3 contiguous mineral

claims totaling 11,786 hectares, located ~20km outside the edge and in the south-west area of the

Athabasca

Basin.

The parties have agreed to amend the Option Agreement to extend the requirement for a minimum

$1,000,000

in work expenditures on the Clearwater West Property on or before the first year

anniversary of the Effective Date until the second year anniversary of the Effective Date, such that

cumulative work expenditures of a minimum of

$3,000,000

are required on or before the second

year anniversary of the Effective Date under the Amendment Agreement. In consideration for the

extension, SKRR is required to issue 605,000 common shares of SKRR to F3 upon the approval by

the TSX Venture Exchange (the "

Exchange

") of the Amending Agreement and an additional 395,000

common shares of SKRR to F3 on or before

June 1, 2024

, unless subsequent to such share

issuance, F3's partially diluted shareholdings in SKRR would exceed 10% of the issued and

outstanding shares of SKRR, in which case SKRR shall pay

$39,500

in cash to F3 in lieu thereof on

or before

June 5, 2024

. All common shares issued to F3 will be subject to a four month hold period

in accordance with applicable securities laws and the policies of the Exchange. The Option

Agreement will continue unamended and remain in full force and effect, except as amended and

supplemented by the Amending Agreement as described herein.

F3 and SKRR are non-arm's length parties (as defined in Exchange Policy 1.1) given that they share

a common senior officer. The Amendment Agreement is subject to acceptance by the Exchange.

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.

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 that address the

Exchange approval of the Amendment Agreement, future exploration work and expenditures on the

Clearwater West Property, payments under the Option 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, 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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CNW 07:00e 10-JAN-24