Mr. Mike Taylor reports

SLAM DRILLING COPPER NICKEL SULPHIDE ZONES

Slam Exploration Ltd. has released preliminary results from the drilling campaign on its wholly owned Goodwin project, located 35 kilometres south of the Caribou mine and mill complex in the Bathurst mining camp (BMC) of New Brunswick.

GW24-04 intersected a 76-metre zone of sulphide mineralization from 14 metres to 92 metres. The company has sawn 87 samples from this hole for shipment to ALS Chemex in Moncton. This mineralization is similar to the zone in hole GW24-03, which intersected 1.17 per cent copper equivalent over 60.60 metres, as reported Aug. 12, 2024.

Hole GW24-04 is a 40-metre step ahead (northeast) of GW24-03 and drilled on the same section.

The summary log reads as shown in an attached table.

GW24-05 intersected a 70.5-metre zone of sulphide mineralization from 35.9 metres to 106.4 metres. The company is sawing 78 samples from this hole for shipment to ALS Chemex in Moncton. The mineralization in GW24-05 is similar to the zone in hole GW24-03, which intersected 1.17 per cent copper equivalent over 60.60 metres, as reported Aug. 12, 2024.

Hole GW24-05 is a 40-metre stepout to the southeast of GW24-04.

The summary log reads as shown in an attached table.

QA/QC (quality assurance/quality control) procedures

The core was delivered to a secure facility in Bathurst, N.B., for detailed logging and sampling. The core descriptions and the summary log for holes GW24-04 and GW24-05 are based on visual observations of the core. The results for holes GW24-01 to GW24-03 were previously reported by Slam in news releases dated between July 30, 2024, and Aug. 12, 2024. The historical 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 drilling.

About Slam Exploration Ltd.

Slam is a public resource company with a substantial portfolio of mineral claim holdings in the mineral-rich province of New Brunswick. The company recently completed three diamond drill holes on the Goodwin copper-nickel project in the 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;
• A 35-metre core interval grading 1.36 per cent copper equivalent in hole GW24-01.

Based on these drilling intercepts, the company has expanded the Goodwin project, which now comprises 194 units covering 4,239 hectares. Drilling resumed on Oct. 10, 2024.

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 (g/t) gold over 0.2 metre and 56.90 g/t gold over 0.5 metre (news releases dated Dec. 13, 2021, and Nov. 22, 2022). Additionally, the company reported quartz float grading up to 39.2 g/t gold on its Jake Lee project, located near the Clarence Stream gold deposit, where Galway Metals Inc. is working on a 2.3-million-ounce gold deposit in southern New Brunswick.

Slam also owns the Mine Road copper-zinc-silver project, adjacent to the former-producing Heath Steele Mines property in the BMC. Previous workers have reported successful diamond drill holes at Mine Road, including IL2014-003, which intersected a nine-metre core interval grading 14.51 per cent zinc, 5.86 per cent lead, 0.67 per cent copper and 139.9 g/t silver in the volcanogenic massive sulphide Railroad zone (Doe Run Canadian Exploration ULC, 2015, New Brunswick assessment files, report of work 477877). The Railroad zone is located 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 last nine months, including:

• $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) from Nine Mile Metals Inc. on March 1, 2024, pursuant to the Wedge project agreement;
• $25,000 cash plus 2.5 million shares of Lode Gold Resources Inc. pursuant to the Ramsay gold agreement.

The company holds NSR (net smelter return) royalties and expects additional cash and share payments from the Wedge copper-zinc project, and the Ramsay, Reserve Creek and Opikeigen gold projects.

Qualifying statement

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

We seek Safe Harbor.