Mr. Mike Taylor reports

SLAM ANNOUNCES $480,000 FLOW-THROUGH PRIVATE PLACEMENT

Slam Exploration Ltd. has arranged a private placement of up to 16 million flow-through units to be issued at a price of three cents per flow-through unit for gross proceeds up to $480,000. Each flow-through unit will comprise one common share of the company issued on a flow-through basis and one-half common share purchase warrant (with two such half common share purchase warrants each being a warrant) issued on a non-flow-through basis. Each warrant will entitle the holder thereof to acquire one non-flow-through common share at a price of five cents for a period of 24 months from the date of closing. The flow-through units will qualify for the 30-per-cent critical mineral exploration tax credit (CMETC) in addition to the federal flow-through tax deduction.

Proceeds received from the flow-through units will be used to finance exploration on Slam's Goodwin copper/nickel project in New Brunswick, Canada. The company may pay finders' fees on the private placement and it is anticipated that certain insiders will participate in the private placement. The flow-through units will be subject to a statutory hold period of four months and one day from issuance. The private placement remains subject to customary closing conditions, including approval from the TSX Venture Exchange. For additional information regarding the private placement, please call Mike Taylor at 506-623-8960.

About Slam Exploration Ltd.

Slam Exploration is a public resource company with a large portfolio of mineral claimholdings in the mineral-rich province of New Brunswick. Slam has discovered multiple gold veins on its wholly owned Menneval gold project. The company has reported gold-bearing core intervals, including 162.5 grams per tonne gold over 0.2 metre and 56.90 grams per tonne gold over 0.5 metre (see news releases dated Dec. 13, 2021, and Nov. 22, 2022). The company reported quartz float grading up to 39.2 grams per tonne gold on its Jake Lee project in the vicinity of the Clarence Stream gold deposit, where Galway Metals Inc. is working on a 2.3-million-ounce gold deposit in southern New Brunswick.

The company completed three diamond drill holes on the Goodwin copper/nickel project in the Bathurst mining camp (BMC) of New Brunswick. Highlights include a 60.60-metre core interval grading 1.17 per cent copper equivalent in hole GW24-03, a 64.90-metre core interval grading 2.14 per cent copper equivalent in hole GW24-02 and a 35-metre core interval grading 1.36 per cent copper equivalent in hole GW24-01. Based on the drilling intercepts, the company expanded the Goodwin project, which now comprises 194 units covering 4,239 hectares.

Slam also owns the Mine Road copper/zinc/silver project adjacent to the former-producing Heath Steele Mines property in the BMC. Successful diamond drill holes at Mine Road by previous workers include IL2014-003, with a nine-metre core interval grading 14.51 per cent zinc, 5.86 per cent lead, 0.67 per cent copper and 139.9 grams per tonne silver, on the volcanogenic massive sulphide Railroad zone at Mine Road (Doe Run Canadian Exploration ULC; 2015, New Brunswick Assessment Files, Report of Work No. 477877), The Railroad zone is 7,000 metres east of the 20-million-tonne former-producing Heath Steele B zone.

The company is a project generator and has received significant cash and share payments over the past nine months as follows: $150,000 cash and 50,000 shares from S2 Minerals Inc. on Dec. 19, 2023, pursuant to the Reserve Creek gold agreement; 534,000 shares and 333,000 warrants (exercisable at one cent) issued by Nine Mile Metals Inc. on March 1, 2024, pursuant to the Wedge project agreement; and $25,000 cash plus 2.5 million shares of Lode Gold Resources Inc. pursuant to the Ramsay gold agreement. The company holds net smelter return royalties and expects additional cash and share payments on the Wedge copper/zinc project and on the Ramsay, Reserve Creek and Opikeigen gold projects.

Qualifying statement

Mike Taylor, PGeo, president and chief executive officer of Slam Exploration, is a qualified person as defined by National Instrument 43-101, and has approved the contents of this news release.

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