SKRR Exploration Inc. Announces Update of Proposed Reverse Takeover Transaction with Kenz Global Resources Ltd.

The most recent news (March 19, 2026) confirms that SKRR Exploration Inc. is proceeding with a definitive agreement for a Reverse Takeover (RTO) by Kenz Global Resources Ltd. This follows the initial Letter of Intent (LOI) announced in August 2025. Key terms include: - SKRR will acquire Kenz, but Kenz shareholders will end up owning the majority of the resulting issuer (75% on a fully diluted basis). - The new entity will focus on the AM Arti mineral project in Saudi Arabia (63% interest). - Trading remains halted pending exchange review. - The company will likely be renamed "Saudi Minerals Corp."

The impact is categorized as Routine - Neutral because this update simply confirms the progression of a transaction that has been public knowledge since August 2025. - Strategic Shift: This is a total departure from SKRR’s previous identity as a Saskatchewan-focused gold explorer. The company has effectively admitted defeat on its Canadian assets, having impaired the Olson Gold Project to Nil. - Dilution: Existing SKRR shareholders will be diluted down to a 25% stake in the new entity. - Asset Quality: The AM Arti project is in a frontier jurisdiction (Saudi Arabia). While the Arabian-Nubian Shield is prospective, the project is early-stage and requires a new NI 43-101 report. - Financials: SKRR is acting as a "funded shell," contributing its remaining cash (~$1.79M as of Oct 2025) to the deal.

SKRR was originally a Saskatchewan gold explorer. Its flagship was the Olson Gold Project (75% interest). Despite historical hits like 39.8m @ 1.09 g/t Au, the company determined in 2025 that no further exploration was planned and impaired the asset to Nil value. The "new" flagship will be the AM Arti Project in Saudi Arabia, covering 99 sq km in the Nabitah suture zone.