Mr. Mike Taylor reports

SLAM NEGOTIATES 2000 METER DRILLING CONTRACT

Slam Exploration Ltd. has negotiated a contract for a 2,000-metre diamond drilling campaign to test copper nickel zones at its wholly owned Goodwin claims. The Goodwin project is located 35 kilometres south of the Caribou mine and mill complex in the Bathurst mining camp (BMC) of New Brunswick.

Flow-through private placement

The drilling program will commence once the previously announced flow-through private placement has closed. Further to the news release dated Aug. 16, 2024, the private placement is anticipated to now comprise up to 16,350,001 flow-through units (FT units) to be issued at a price of three cents per FT unit for gross proceeds up to $490,503. Each FT unit will comprise one common share of the company issued on a flow-through basis and one-half common share purchase warrant, each warrant will be exercisable by the holder thereof at a price of five cents for a period of 24 months to acquire one additional common share of the company. The FT units will qualify for the 30 per cent Critical Mineral Exploration Tax Credit (CMETC), in addition to the Canadian exploration expenditure (CEE) flow-through tax deduction. Closing of the private placement remains subject to receipt of TSX Venture Exchange approval.

Drilling targets: The 2,000-metre drilling program will be designed to test the following priority targets:

• The Granges zone: Slam drilled a 64.90-metre core interval grading 2.14 per cent copper equivalent, including 31.20 metres grading 3.84 per cent copper equivalent in hole GW24-02.
• The Farquharson zone: Slam drilled a 60.6- metre core interval grading 1.17 per cent copper equivalent from 72.90 metres to 133.50 metres in hole GW24-03 as reported Aug. 12, 2024.
• The Logan zone : Massive sulphide core intervals up to six metres and disseminated sulphide core intervals up to 30 metres were reported from five historic holes drilled in 1960 but assays were not included. Assays were reported for an additional seven holes were drilled from 1969 to 1997. They include hole MM71-05B intersected a 16.95-metre core interval grading 0.37 per cent copper and 0.44 per cent nickel with individual core samples grading up to 0.72 per cent copper and 1.05 per cent nickel over 2.10 metres (these results predate National Instrument 43-101 regulations and can only be validated by additional drilling).
• Other targets: Other targets include untested soil geochemical anomalies, MegaTEM conductors and magnetic anomalies that occur in the vicinity of three known copper nickel zones. In addition to the drilling program, the company is planning a 1,500-metre trenching program to test selected targets.

QA/QC (quality assurance/quality control) procedures: The Granges zone and Farquharson zone results described above were previously reported by Slam in news releases dated between July 30, 2024, and Aug. 12, 2024. The historic results from previous workers are derived from New Brunswick assessment files that predate National Instrument 43-101 regulations. They can only be validated by additional trenching and drilling.

About Slam Exploration Ltd.

Slam Exploration is a public resource company with a large portfolio of mineral claim holdings in the mineral-rich province of New Brunswick. Slam has discovered multiple gold veins on its wholly owned Menneval gold project.

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