Mr. Mike Taylor reports

SLAM LAUNCHES AIRBORNE VTEM SURVEY - GEOTECH FLYING OVER GOODWIN COPPER NICKEL COBALT PROJECT

Slam Exploration Ltd. has commenced a VTEM (versatile time-domain electromagnetic) Plus airborne electromagnetic survey over the Goodwin copper-nickel-cobalt project in the mineral-rich province of New Brunswick. The company expects the VTEM survey to help identify potential ovoid-type copper-nickel-cobalt deposits associated with deep-seated magmatic chambers, as well as potential extensions of the Farqharson, Granges, Logan and Bruce copper-nickel-cobalt zones. The company has selected Geotech Ltd., a global leader in airborne geophysical technology, to complete an 852-kilometre survey at an estimated cost of $275,000.

The VTEM survey is a follow-up to Slam's 25-hole diamond drilling campaign completed in 2024 and 2025.

Final assays have been received from the 2025 drilling campaign, following the 2024 campaign results previously reported. Highlights from the 2024 program included 15 holes, with results including a 64.90-metre core interval grading 2.19 per cent copper equivalent (copper/nickel/cobalt), including 3.84-per-cent copper equivalent over 31.20 metres in hole GW24-02, as reported in a news release dated Aug. 7, 2024. Significant gold values were also reported, including up to 3.31 grams per tonne over 0.5 metre in hole GW24-01.

The 2025 results are summarized in the following table.

The company completed 10 holes for a total of 2,944 metres of diamond drilling in 2025.

Quality assurance/quality control procedures

Core was collected from the drill in trays and delivered to a secure logging facility in Bathurst, N.B. After logging, samples were sawn using a diamond blade. Sawn half-core samples were numbered, collected in bags, and tagged and delivered to Activation Laboratories Ltd. (Actlabs) in Fredericton. Actlabs completed multielement analysis using assay method UT7. Samples returning overlimit results (greater than 1 per cent) for the UT7 are reanalyzed using method 8-AR. Blanks and standards are included in each sample series.

Options granted

Slam's board of directors has approved the grant of incentive stock options to directors, officers, employees and consultants to acquire a total of 3.1 million common shares in the capital of the company at an exercise price of eight cents. The options were granted pursuant to the company's 10-per-cent rolling stock option plan and are subject to the terms of the plan and the requirements of the TSX Venture Exchange. The options are exercisable for a three-year term and expire on Jan. 23, 2029.

Jake Lee project update

Assays are pending on 700 soil samples collected from the vicinity of the No. 1 gold vein on Slam's wholly owned Jake Lee claims. Three channel samples from the No. 1 vein assayed 31.3 g/t gold, 12.3 g/t gold and 40.5 g/t gold along with 63.30 g/t silver, 23.2 g/t silver and 25.1 g/t silver, respectively, as reported by a news release dated Jan. 14, 2026.

The Jake Lee claims are located 25 kilometres southeast of the Clarence Stream gold deposit where Galway Metals Inc.'s Clarence Stream is host to a 12.4-million-tonne indicated resource of 922,000 ounces at a grade of 2.31 g/t gold plus an inferred resource of 16.1 million tonnes with 1,334,000 ounces at a grade of 2.60 g/t gold (reference: "Updated Mineral Resource Statement, Clarence Stream Deposits, New Brunswick, Canada," by SLR Consulting (Canada) Ltd., March 31, 2022).

Historic Menneval results

Slam previously reported gold-bearing core intervals from the Maisie vein, including 162.5 g/t gold over 0.2 m and 56.90 g/t gold over 0.5 m, in its news releases dated Dec. 13, 2021, and Nov. 22, 2022. The company also reported a core interval grading 3,955 g/t (127 ounces) gold over 0.1 metre from the No. 18 vein. The Menneval soil geochemical survey shows a number of gold anomalies over an area measuring approximately 3,000 metres by 2,500 metres.

About Slam Exploration Ltd.

Slam Exploration is a publicly listed resource company with a 40,000-hectare portfolio of mineral claimholdings in the mineral-rich province of New Brunswick. This portfolio is built around the Goodwin copper-nickel-cobalt project in the Bathurst mining camp (BMC) of New Brunswick. The company drilled 10 holes in the 2025 diamond drilling campaign on the Goodwin copper-nickel-cobalt project. This followed significant copper, nickel and cobalt intercepts from 15 diamond drill holes reported by the company in 2024. These include a 64.90-metre core interval, grading 2.19 per cent CuEq (copper/nickel/cobalt), including 3.84 per cent CuEq over a 31.20-metre core interval from hole GW24-02 as reported in a news release Aug. 7, 2024. Significant gold values were also reported with up to 3.31 g/t over 0.5 m in hole GW24-01.

The company is a project generator and expects to receive significant cash and share payments in 2026. Slam received 1.2 million shares plus cash from Nine Mile Metals Inc. in 2025 pursuant to the Wedge project agreement. Also in 2025, the company received a cash payment of $60,000 as well as 180,000 shares of a private company pursuant to the Ramsay gold agreement. The company holds net smelter return royalties and expects to receive additional cash and share payments on the Wedge copper-zinc project and on the Ramsay gold project.

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.

We seek Safe Harbor.