SKRR Exploration Inc. Announces Letter of Intent with X1 Entertainment Group Inc. for the Manson Bay Project, Saskatchewan
SKRR Exploration Inc. Announces Letter of
Intent with X1 Entertainment Group Inc. for the
Manson Bay Project, Saskatchewan
VANCOUVER, BC
,
Dec. 4, 2023
/CNW/ - SKRR Exploration Inc. (TSXV: SKRR) (FSE:
B04Q) ("
SKRR
" or the "
Company
") is pleased to announce it has entered into a letter of intent
("
LOI
") with X1 Entertainment Group Inc. (CSE: XONE) ("
X1
"), whereby SKRR and X1 will negotiate
and settle the terms of a definitive acquisition agreement (the "
Acquisition Agreement
") for X1 to
acquire a 100% interest in SKRR's wholly-owned Manson Bay gold project (the "
Manson Bay
Project
").
The Manson Bay Project is located in the Trans Hudson Corridor in east-central
Saskatchewan
,
approximately 40km northwest of the historic mining center of
Flin Flon
, on the
Manitoba
border. The
Manson Bay Project consists of thirteen (13) contiguous mineral claims totaling 4,293.213
hectares.
Under the terms of the LOI, X1 may acquire a 100% interest in the Manson Bay Project by issuing
1,000,000 common shares in the capital of X1 to SKRR. The potential Acquisition Agreement and
the consideration and transactions contemplated thereunder, will be subject to and in accordance
with applicable corporate and securities laws and the approval of the Canadian Securities Exchange,
and if required, the approval of the TSX Venture Exchange and any other such approvals that may
be required, including approval of the shareholders of X1.
Further details regarding the proposed transaction with X1 will be provided in a comprehensive news
release if, and when, the parties enter into the Acquisition Agreement. There can be no guarantees
that the proposed transaction will be completed as contemplated or at all.
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
potential transaction with X1 including entering into the Acquisition Agreement, Canadian Securities
Exchange and TSX Venture Exchange approval of the transaction, as applicable, approval of the
shareholders of X1 and other statements relating to the technical, financial and business prospects
of the Company, its projects and other matters, and the Company's plans and goals. 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, the interpretation of technical and scientific data, risks related to the inherent
uncertainty of exploration and development and cost estimates and the potential for unexpected
costs and expenses and including those 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, adverse
weather or climate conditions, decrease in the price of metals, equipment failures or failure to obtain
the necessary equipment, failure to maintain all necessary government permits, approvals and
authorizations, 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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CO: SKRR EXPLORATION INC.
CNW 03:30e 04-DEC-23