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TSXV: SXL

SLAM ACQUIRES NEW COPPER NICKEL CLAIMS

PERMITS IN PLACE FOR COPPER NICKEL PROGRAM IN BATHURST MINING CAMP

For Immediate Release, June 12th, 2024

Miramichi, New Brunswick - SLAM Exploration Ltd. (TSXV-SXL) is pleased to announce it has entered into an arm's length option agreement with Prospect Or Corp. (the "Optionor") dated June 3, 2024, to acquire a 100% interest in 5 mineral claims (the "Property") located 5 kilometres southwest of the Half Mile copper zinc deposit owned by Trevali Mining Corporation 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% copper plus 1.51% 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 8 original claims plus 5 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 3 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.

Figure 1: Goodwin Project Mineral Claims

Figure 2: Goodwin Project Geology

The Agreement: To earn a 100% interest in and to the Property SLAM must pay the Optionor a total of $60,000 CAD dollars over four (4) years and issue the Optionor a total of 1,000,000 common shares (Shares) in accordance with the following schedule:

Due Date

Common Share Payments

Cash Payment

Within 5 days receipt of approval from the TSXV

200,000

$5,000

On or before 1st anniversary of signing the Agreement

200,000

$10,000

On or before 2nd anniversary of signing the Agreement

200,000

$10,000

On or before 3rd anniversary of signing the Agreement

200,000

$15,000

On or before 4th anniversary of signing the Agreement

200,000

$20,000

Total

1,000,000

$60,000

Upon SLAM earning 100% interest, the Optionor will retain a 2% net smelter return ("NSR") royalty on the Property (the "Production Royalty"). SLAM shall have the right to buy back one-half of the Royalty equal to 1.0% NSR for one million dollars ($1,000,000) 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 4 months and one day from issuance in accordance with Canadian securities laws. No finders' fees were paid on this arm's length agreement.

QA-QC Procedures: The results described above are from news releases and reports that predate NI43-101 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 Ltd. 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 g/t gold over 0.2 m and 56.90 g/t gold over 0.5 m (news releases December 13, 2021 and November 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 M ounce gold deposit in southern New Brunswick.

The Company holds the Goodwin copper nickel project and the Mine Road VMS copper zinc silver project in the mineral rich Bathurst Mining Camp of New Brunswick. Previous workers discovered 3 copper nickel occurrences at Goodwin. Mineralized core intercepts were drilled including 1.79% copper plus 1.51% 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 9-metre core interval grading 14.51% zinc, 5.86% lead, 0.67% 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 M tonne former producing Heath Steele B Zone.

The Company is a project generator and has received significant cash and share payments over the last 6 months as follows; $150,000 cash and 50,000 shares from S2 Minerals Inc. (STWO) on December 19, 2023 pursuant to the Reserve Creek gold agreement; 534,000 shares and 333,000 warrants (exercisable at $0.01) issued by Nine Mile Metals Inc. (NINE) on March 01, 2024 pursuant to the Wedge project agreement and $25,000 cash plus 2,500,000 shares of Lode Gold Resources Inc. (LOD) pursuant to the Ramsay gold agreement. The Company holds NSR royalties and expects additional cash and share payments on the Wedge copper zinc project and on the Ramsay, Reserve Creek and Opikeigen gold projects.

To view SLAM's corporate presentation, click SXL-Presentation. Additional information is available on SLAM's website and on SEDAR+ at www.sedarplus.ca. Follow us on X @SLAMGold.

Qualifying Statements: Mike Taylor P.Geo, President and CEO of SLAM Exploration Ltd., is a qualified person as defined by National Instrument 43-101, and has approved the contents of this news release.

Certain information in this press release may constitute forward-looking information, including statements regarding mineral resources and the Company's plans with respect to the exploration and development of its properties. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. There are a number of risk factors that could cause future results to differ materially from those described herein. Information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedarplus.ca. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION:

Mike Taylor, President & CEO

Contact: 506-623-8960 mike@slamexploration.com

Eugene Beukman, CFO

Contact: 604-687-2038 ebeukman@pendergroup.ca SEDAR+: 00012459