Mr. Sherman Dahl of SKRR Exploration reports

SKRR EXPLORATION INC. AMENDS DEFINITIVE OPTION AGREEMENT WITH F3 URANIUM CORP. FOR THE CLEARWATER WEST PROJECT, SASKATCHEWAN

SKRR Exploration Inc. has entered into an amendment agreement dated Jan. 8, 2024, in respect of the option agreement dated May 25, 2023 (the effective date), with F3 Uranium Corp. to acquire up to a 70-per-cent interest in the Clearwater West property (see SKRR news release dated May 26, 2023). The Clearwater West property comprises three contiguous mineral claims totalling 11,786 hectares, located approximately 20 kilometres outside the edge and in the southwest area of the Athabasca basin.

The parties have agreed to amend the option agreement to extend the requirement for a minimum $1-million 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-million 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 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 per cent 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 underexplored in Saskatchewan. SKRR is committed to all stakeholders, including shareholders, all its partners and the environment in which it operates.

We seek Safe Harbor.