Chris Donaldson appointed as CEO and Director of Skarb Exploration Corp.

Vancouver, BC – TheNewswire – October 1st, 2020 – Skarb Exploration Corp. (CSE:SKRB) (CNSX:SKRB.CN) (“Skarb” or the “Company“) is pleased to announce that Chris Donaldson has been appointed as Chief Executive Officer and a Director of the Company, effective immediately. The Company also announces its intention to change the corporate name and conduct business as Outback Goldfields Corporation subject to shareholder and any regulatory approvals.

We are extremely pleased that Chris will lead our company as we plan to acquire and advance an outstanding package of properties in and around the historic goldfields of Fosterville and Ballarat (see previous announcement dated August 25, 2020),” commented Craig Parry, Chairman. “Chris is well recognized in the mining industry, has a proven track record of leading companies in capital markets, corporate development and government and community relations. We look forward to him joining our team and helping to build value for our shareholders.”

Incoming CEO and Director, Chris Donaldson stated “I have looked at many opportunities over the last year, but the opportunity presented with Skarb to acquire and advance projects in such a high grade, low cost mining jurisdiction while being supported by Craig Parry made it an easy decision.”

About Chris Donaldson

Mr. Donaldson is an experienced executive with a 25-year track record of raising funds and building out new investment channels for both public and private companies.

From 2013 to 2020, Chris held the dual role of Director, Corporate Development with Western Copper and Gold (NYSE American and TSX listed) as well as Director, Corporate Development and Community with Casino Mining Corporation.

Chris holds a Bachelor of Arts (Economics) from the University of Western Ontario and has taken the Canadian Securities Course and the Investor Relations program at Ivey Business School. Chris is the founding director and former Chairman of the Society of Investor Relations in Mining (SIREM), has been active within the Yukon Mining Alliance, the boards of the Yukon Chamber of Commerce, the Yukon Chamber of Mines and served for many years as a Director of the Pacific Salmon Foundation.

About Skarb Exploration

Skarb Exploration (soon to be re-named and operate as Outback Goldfields) is a gold exploration company acquiring assets in the historic high-grade, low-cost mining district of Victoria, Australia.

The Company has entered into a letter of intent to acquire a package of highly prospective properties adjacent and in the vicinity of Kirkland Lakes Fosterville Gold Mine and a Newmont Gold’s recently purchased land claims in Victoria, Australia. The company was founded by Craig Parry who has an enviable track record of delivering shareholder value.

On behalf of the board

Craig Parry, Chairman

Skarb Exploration Corp.

For Enquiries:

Chris Donaldson, CEO and Director

Direct: +1 604 813 3931

cdonaldson@outbackgoldfields.com

or

info@skarbexploration.ca

www.skarbexploration.ca

Forward-Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information.

Generally, forward-looking statements and information may be identified by the use of forward-looking terminology such as “plans”, ” expects” or “does not expect”, “proposed”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. More particularly and without limitation, this news release contains forward-looking statements and information concerning the Transaction. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the assumption that the Company will receive the approval of its shareholders and the CSE in respect of the Transaction. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release.

Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

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