SKRR Exploration Inc. Closes Amended Private Placement

SKRR Exploration Inc. Closes Amended

Private Placement

/NOT FOR DISTRIBUTION TO

UNITED STATES

NEWSWIRE SERVICES OR FOR

DISSEMINATION IN

THE UNITED STATES

/

VANCOUVER, BC

,

July 10, 2023

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

B04Q) ("

SKRR

" or the "

Company

") is pleased to announce that, further to its news releases of

June

6, 2023

, it has closed a non-brokered private placement (the "

Offering

") for aggregate gross

proceeds of

$45,000

, consisting of 40,000 flow-through units of the Company (each, a "

FT Unit

") at

a price of

$0.25

per FT Unit and 175,000 units of the Company (each, a "

Unit

") at a price of

$0.20

per Unit. The Offering was completed following a consolidation of the issued and outstanding

common shares of the Company on the basis of one (1) post-consolidation share for every five (5)

existing shares (the "

Consolidation

"). The Consolidation was effective at the opening of the market

on

Monday, July 10, 2023

. The

June 6, 2023

news release announced a private placement of

aggregate gross proceeds of

$105,000

, which has been reduced to aggregate gross proceeds of

$45,000

.

Each Unit consists of one common share of the Company ("

Unit Share

") and one common share

purchase warrant ("

Warrant

"). Each FT Unit consists of one common share of the Company to be

issued as a "flow-through share" within the meaning of the

Income Tax Act

(

Canada

) (a "

FT Share

")

and one Warrant. Each Warrant entitles the holder thereof to purchase one common share of the

Company (a "

Warrant Share

") at a post-Consolidation price of

$0.30

at any time on or before the

date which is 36 months following the closing of the Offering.

The Company intends to use the proceeds of the Offering for the exploration of the Company's

projects in

Saskatchewan

and for general working capital purposes. The gross proceeds from the

issuance of the FT Shares will be used for "Canadian Exploration Expenses" (within the meaning of

the Income Tax Act (

Canada

)) (the "

Qualifying Expenditures

"), which will be renounced with an

effective date no later than

December 31, 2023

to the purchasers of the FT Units in an aggregate

amount not less than the gross proceeds raised from the issue of the FT Shares. If the Qualifying

Expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each

subscriber of FT Units for any additional taxes payable by such subscriber as a result of the

Company's failure to renounce the Qualifying Expenditures.

In connection with the Offering, the Company paid aggregate cash finder's fees of

$700.00

and

issued 2,800 non-transferable finder's warrants. Each finder warrant entitles the holder thereof to

purchase one common share of the Company at a post-Consolidation price of

$0.20

at any time on

or before the date which is 36 months following the closing of the Offering. The Unit Shares, FT

Shares, Warrant Shares and any common shares of the Company that are issuable from any

finder's warrants are subject to a hold period of four months and one day following the closing date

of the Offering in accordance with applicable securities laws.

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.

The securities offered have not been, and will not be, registered under the United States Securities

Act of 1933, as amended (the "

U.S. Securities Act

") or any U.S. state securities laws, and may not

be offered or sold in

the United States

or to, or for the account or benefit of,

United States

persons

absent registration or an applicable exemption from the registration requirements of the U.S.

Securities Act and applicable U.S. state securities laws. This press release does not constitute an

offer to sell or the solicitation of an offer to buy securities in

the United States

, nor in any other

jurisdiction.

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 relating to the use of

proceeds of the Offering 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.sedar.com

. 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, the impact of Covid-19

or other viruses and diseases on the Company's ability to operate, 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 16:30e 10-JUL-23