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SKRR Exploration Inc. Signs Definitive Agreement to Acquire Father Lake Nickel Claims in Saskatchewan
Vancouver, British Columbia--(Newsfile Corp. - June 15, 2021) - SKRR Exploration Inc. ( TSXV: ...
About this update from Skrr Exploration, Inc.
[{"type":"text","content":"SKRR Exploration Inc. Signs Definitive Agreement to Acquire Father Lake Nickel Claims in SaskatchewanVancouver, British Columbia--(Newsfile Corp. - June 15, 2021) - SKRR Exploration Inc. (TSXV: SKRR) (FSE: B04Q) (\"SKRR\" or the \"Company\") is pleased to announce it has entered into a non-arm's length acquisition agreement (the \"Agreement\") to acquire a 100% interest in Ross McElroy's Father Lake Nickel Property consisting of nine (9) mineral claims comprising a total of 4,727.382 hectares dated June 14, 2021. HighlightsLocated in mineral rich Saskatchewan, a world class mining jurisdiction Host rock is a 200m to 800m wide norite body that can be traced for 16km trending East North EastNumerous nickel and copper showings along trendClaims cover eastern half of previous Strongbow Exploration Inc.'s Nickel Lake / Dumas Lake project and covers several historic nickel and copper showings including:Dumas Zones A & B drilling intersections 1.34% Ni & 0.94% Cu over 2mDumas Zone D drilling intersection of 2.36% Ni over 0.5m\"We are extremely excited to acquire the Father Lake Nickel property and add it to our expanding portfolio of assets in one of the world's premier mining jurisdictions,\" stated Sherman Dahl, CEO of SKRR. \"The timing of this acquisition positions the Company well for a tightening nickel market.\"Terms of the Agreement Under the terms of the Agreement, SKRR will acquire a 100% interest in the Father Lake Nickel Property by making a cash payment of CAD$7,500 to Mr. McElroy, which represents the costs expended by Mr. McElroy in staking and researching the Father Lake Nickel Property. The Agreement is subject to acceptance by the TSX Venture Exchange. The acquisition agreement with Mr. McElroy is not an \"Arm's Length Transaction\" as such term is defined in the Exchange's Policy 1.1 and therefore constituted a \"related party transaction\" as such term is defined in Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. Ross McElroy is a director of SKRR.The Father Lake Nickel Property DetailsThe Father Lake property is located 40km northeast of the hamlet of Stony Rapids in the province of Saskatchewan. Stony Rapids is a full service community with a commercial airport. Access to the property is via fixed wing or helicopter aircraft. From a regional perspective, th...