Mr. Mike Taylor reports

SLAM CLOSES FINAL TRANCHE OF FLOW-THROUGH PRIVATE PLACEMENT

Slam Exploration Ltd. has closed the second tranche of its flow-through private placement announced April 4, 2024, and further to the first tranche closing announced April 25, 2024. The two tranches combine for a total of $97,500. In connection with the second and final tranche, the company has issued 300,000 FT units at a price of 2.5 cents per FT unit for gross proceeds of $7,500. Each FT unit comprised one common share in the capital of the company issued on a flow-through basis and one common share purchase 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 FT units are subject to a four-month-and-one-day hold period that expires on Sept. 23, 2024.

Proceeds received from the FT units will be used to finance exploration on Slam's gold, zinc, copper and nickel projects in New Brunswick, Canada.

Nine Mile drilling results: The company is pleased to hear about recent drilling results reported by Nine Mile Metals Ltd. on the Wedge project acquired from Slam through an option agreement. On May 16, 2024, Nine Mile announced certified assay results of 1.65 per cent copper equivalent (CuEq) over 40.32 metres including 2.29 per cent (CuEq) over 13.12 m and 3.25 per cent (CuEq) over 5.50 m in drill hole WD-24-07. This was followed by drill hole WD-24-08 with certified assay results of 1.34 per cent copper equivalent (CuEq) over 44.00 m including 3.73 per cent (CuEq) over 12.00 m and 4.57 per cent (CuEq) over 9.00 m reported on May 21, 2024. Mike Taylor states, "We wish to congratulate Pat (Cruickshank) and his team on these drilling results from the Wedge project located in the centre of the Bathurst mining camp."

About Slam Exploration Ltd.

Slam Exploration is a public resource company with a large portfolio of mineral claim holdings built around its wholly owned Menneval gold project in the mineral-rich province of New Brunswick. Slam has discovered multiple gold veins at Menneval and previously reported gold-bearing core intervals including 162.5 grams per tonne gold over 0.2 metre and 56.90 g/t gold over 0.5 m (news releases Dec. 13, 2021, and Nov. 22, 2022). The company reported significant gold discoveries of quartz float grading up to 39.2 g/t 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 holds the Goodwin copper nickel project and the Mine Road VMS (volcanogenic massive sulphide) copper-zinc-silver project in the mineral rich Bathurst mining camp of New Brunswick. Previous workers discovered three copper-nickel occurrences at Goodwin. Mineralized core intercepts were drilled including 1.79 per cent copper plus 1.51 per cent nickel over 5.7 metres in diamond drill hole GR89-55 on the Goodwin project.

Successful diamond drill holes 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 g/t silver on the Railroad zone at Mine Road. The Railroad zone is 7,000 m 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 six months as follows: $150,000 cash and 50,000 shares from S2 Minerals Inc. (STWO) 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 on March 1, 2024, pursuant to the Wedge project agreement and $25,000 cash plus 2.5 million shares of Lode Gold Resources Inc. (LOD) pursuant to the Ramsay gold agreement. The company holds NSR (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.

QA/QC (quality assurance/quality control) procedures: The results described herein are from previous news releases and reports by Slam and other firms. The news releases included a summary of QA/QC procedures and the company deems these results to be reliable.

Qualifying statements: Mike Taylor PGeo, president and CEO 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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