Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

News Update


Precious Metals Company Agrees to Acquire 100% of Saskatchewan Property
News Update

Share on Stocktwits


SKRR Exploration reported that it entered into an agreement to acquire the Irving Lake property in Saskatchewan that covers 10 existing mineral claims.

In a news release, SKRR Exploration Inc. (SKRR:TSX.V) announced that it has signed a "non-arm's length" option agreement to acquire 100% of the Irving Lake property from Edge Geological Consulting Inc. The company advised that the Lake property, located in Saskatchewan, consists of 10 mineral claims that encompass approximately 6,457 hectares. The firm indicated that Edge currently owns all unencumbered title rights to the ten non-contiguous mineral claims on the property.

The company outlined that the Irving Lake property mineral dispositions cover prospective sections of the Pine Lake greenstone belt located within the Glennie lithostructural domain. The firm stated that the property is centered about 20 km south of SSR Mining's Seabee and Santoy gold mines and noted that Seabee is Saskatchewan's largest orogenic gold deposit. The firm stated that the claims presently owned by Edge are located within one kilometer of all significant metal occurrences in the southern Pine Channel supracrustal belt.

The company's CEO Sherman Dahl commented, "At SKRR Exploration, we have the management and board expertise, high quality assets, balance sheet strength and focus on exploration excellence that will generate value and growth for our shareholders. Further, SKRR is committed to uncovering the immense opportunity in the Trans Hudson Corridor in Saskatchewan."

The company explained that under the terms of the agreement, it has the option to acquire a 100% interest in the property in exchange for making a cash payment of $8,000 to Edge within five days of TSX Venture Exchange approval of the option agreement and incurring total exploration expenditures of $600,000 over a three year period.

The firm added that Edge will manage and operate the exploration programs on the property during the life of the option agreement, but that all work programs and budgets prepared by Edge will be subject to prior written approval by SKRR.

The company advised that the option agreement is subject to acceptance by the TSX Venture Exchange as it is classified as a "Reviewable Transaction" under the exchange's rules. This is due to the fact that the purchase is not considered to be an arms-length transaction because SKRR's Ross McElroy serves as a director of both parties involved in the agreement.

SKRR Exploration is a precious metal explorer based in Vancouver, with properties located in Saskatchewan.


1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Want to read more about Gold investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe