SKRR Exploration Inc. Closes Private Placement Financing

Vancouver, British Columbia--(Newsfile Corp. - March 22, 2021) - SKRR Exploration Inc. (TSXV: SKRR) (OTC Pink: SKKRF) (FSE: B04Q) ("SKRR" or the "Company") is pleased to announce that it has closed the previously announced non-brokered private placement (the "FT Private Placement") consisting of 6,053,300 flow-through common shares (the "FT Shares") at a price of $0.30 per FT Share for aggregate gross proceeds of $1,815,990.

The Company also closed a non-brokered private placement (the "Private Placement") consisting of 772,407 units (each, a "Unit") at a price of $0.27 per Unit for gross proceeds of $208,550. Each Unit is comprised of one common share and one-half of one common share purchase warrant. Each whole warrant is exercisable to purchase one common share of the Company at a price of $0.40 per share for a period of twenty-four (24) months from the date of closing the Private Placement.

The proceeds from the FT Private Placement and the Private Placement will be used for exploration expenditures on the Company's projects and for general corporate purposes and working capital.

Sherman Dahl, CEO comments:

"The entire SKRR team looks forward to continued discovery success in 2021. We are well funded for the current drilling within the discovery zone of the Olson project, and assays are pending on the exciting Leland project, which is in close proximity to the SSR Mining/Taiga Gold Fisher project. In addition, gold is back on investors radar as an asset class, as it should be. Gold seemed irrelevant for many a few weeks ago; there was more action in other sectors. Gold is back as a player on the field again, after being benched for a while. The closing of this current financing demonstrates the commitment of our retail and institutional investors towards the SKRR team and gold discovery in the underexplored Saskatchewan Trans Hudson Corridor."

All securities issued in connection with the FT Private Placement and the Private Placement are subject to a four month hold period from the closing date in accordance with applicable securities laws. In connection with the FT Private Placement and the Private Placement, the Company paid aggregate cash finder's fees of $119,944.28 and issued 353,500 non-transferable compensation options exercisable for the purchase of Units at $0.27 per Unit for a period of twenty-four (24) months from the date of closing.

A portion of the FT Private Placement and the Private Placement constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") as securities were issued to a senior officer and a director of the Company pursuant to the FT Private Placement and the Private Placement. The issuances of the securities to the two insiders of the Company are exempt from the formal valuation and minority shareholder approval requirements under MI 61-101 pursuant to subsections 5.5(b) and 5.7(1)(a) as the Company's common shares are not listed on a specified market and the fair market value of these securities do not exceed 25% of the Company's market capitalization.

About SKRR Exploration Inc.:

SKRR is a Canadian-based precious metal explorer with properties in Saskatchewan - one 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 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

Rich Matthews, Investor Relations
Integrous Communications
rmatthews@integcom.us
+1 6047577179

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 Regulation 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 contains "forward‐looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, statements that address the Private Placement, use of proceeds, 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, 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 those filed under the Company's profile on SEDAR at www.sedar.com. 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 conditions, decrease in the price of gold and other metals, equipment failures or failure to obtain the necessary equipment, adverse weather 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, 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.