Mr. Mike Taylor reports

SLAM ANNOUNCES $468,000 PRIVATE PLACEMENT

Slam Exploration Ltd. has arranged a non-brokered private placement offering to raise up to $468,000 through the issuance of the following securities:

1. Up to 2.4 million non-flow-through (NFT) units issued at a price of 4.5 cents per NFT unit, for proceeds of up to $108,000. Each NFT unit will consist of one common share of the company and one transferable non-flow-through share purchase warrant;
2. Up to eight million CMETC (critical mineral exploration tax credit) and CEE (Canadian exploration expenses) flow-through (FT) units issued at a price of 4.5 cents per FT unit, for gross proceeds of up to $360,000. Each FT unit will consist of one FT share and one-half of one transferable common share purchase warrant issued on a non-flow-through basis (two half common share purchase warrants are one whole NFT warrant);
3. Each whole NFT warrant will be exercisable to acquire one additional non-flow-through common share of the company at a price of five cents for a period of 24 months following the date of issuance;
4. The gross proceeds received from the issuance of the NFT units will be used for corporate purposes;
5. The gross proceeds received from the issuance of the FT units will be used for exploration activities on Slam's Goodwin copper-nickel critical element project in New Brunswick.

The offering is expected to close on or about Dec. 10, 2024, and is subject to the receipt of all necessary regulatory and other approvals, including, but not limited to, acceptance of the TSX Venture Exchange. All securities issued pursuant to the offering will be subject to a hold period of four months and one day from the closing date in accordance with applicable securities laws.

The company may pay finders' fees on the offering and it is anticipated that certain insiders will participate in the offering.

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 Bathurst mining camp of New Brunswick. Highlights include a 64.90-metre core interval grading 2.14 per cent copper equivalent in hole GW24-02. The company has reported an additional 12 holes drilled in a follow-up program currently in progress at Goodwin. Assays are pending on holes GW24-04 to GW24-15.

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.

Slam is a project generator and has received significant cash and share payments over the past year. 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 statements

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.