Mr. Mike Taylor reports

SLAM ACQUIRES NEW COPPER NICKEL CLAIMS PERMITS IN PLACE FOR COPPER NICKEL PROGRAM IN BATHURST MINING CAMP

Slam Exploration Ltd. has entered into an arm's-length option agreement with Prospect Or Corp. (the optionor) dated June 3, 2024, to acquire a 100-per-cent interest in five mineral claims located five kilometres southwest of the Half Mile copper-zinc deposit owned by Trevali Mining Corp. and located in the Bathurst mining camp of New Brunswick. These claims were acquired to cover potential extensions of known copper-nickel occurrences on Slam's original Goodwin project.

Goodwin project highlights: Previous workers cored a 5.7-metre interval grading 1.79 per cent copper plus 1.51 per cent nickel in diamond drill hole GR87-55 on the Granges zone located within Slam's original Goodwin project. The core length in metres may not equal the true width of this interval. Prior to the Granges discovery in 1987, two additional copper-nickel occurrences named the Farquharson zone and the Logan zone had been discovered in drilling programs dating back to 1960. The Goodwin project consists of eight original claims plus five newly optioned claims that combine for 159 units that cover 3,474 hectares of prospective mineral ground. The project is underlain by the Goodwin Lake gabbro, a 6,500-metre-long body of intrusive rocks hosting the three copper-nickel occurrences referenced above. Permits are in place for a trenching and drilling program to test for copper-nickel mineralization as well as gold and platinum group metals. The Goodwin project is accessible by logging roads from the Fraser Burchill road off Route 430 which connects to the city of Miramichi 90 kilometres to the southeast.

The agreement: To earn a 100-per-cent interest in and to the property Slam must pay the optionor a total of $60,000 over four years and issue the optionor a total of one million common shares in accordance with the following schedule:

Due date: within five days receipt of approval from the TSX Venture Exchange

Common share payments: 200,000

Cash payment: $5,000

Due date: on or before first anniversary of signing the agreement

Common share payments: 200,000

Cash payment: $10,000

Due date: on or before second anniversary of signing the agreement

Common share payments: 200,000

Cash payment: $10,000

Due date: on or before third anniversary of signing the agreement

Common share payments: 200,000

Cash payment: $15,000

Due date: on or before fourth anniversary of signing the agreement

Common share payments: 200,000

Cash payment: $20,000

Total

Common share payments: one million

Cash payment: $60,000

Upon Slam earning 100-per-cent interest, the optionor will retain a 2-per-cent net smelter return (NSR) royalty on the property. Slam shall have the right to buy back one-half of the royalty equal to 1-per-cent NSR for $1-million at any time and the right of first refusal on the remaining NSR before the commencement of production.

The option agreement and proposed share issuances remain subject to approval by the TSX Venture Exchange. All security issuances will be subject to a statutory hold period of four months and one day from issuance in accordance with Canadian securities laws. No finders' fees were paid on this arm's-length agreement.

Quality assurance/quality control procedures: The results described above are from news releases and reports that predate National Instrument 43-101 regulations. The numbers can only be validated by additional drilling but the company deems these results to be useful to plan additional drilling.

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 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.

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.

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