Mr. Mike Taylor reports

SLAM ACQUIRES NEW COPPER NICKEL CLAIMS

Slam Exploration Ltd. has acquired six additional claims covering 7,400 hectares adjacent to its Goodwin project, located 35 kilometres south of the Caribou mine in the Bathurst mining camp of New Brunswick. This expansion of the Goodwin copper-nickel project was based on the significant results reported from the first seven holes drilled on the Farquharson and Granges zones in 2024. Assays are pending on the last eight holes drilled on the Granges and Logan zones.

The Goodwin claims now cover a trend of aeromagnetic anomalies associated with gabbro intrusions that extend from the Bruce copper nickel occurrence westward for 25,000 metres. The new acquisition expands the Goodwin project to cover 11,450 hectares of prospective ground.

All five holes on the Farquharson zone intersected copper nickel mineralization over core intervals ranging from 46 metres to 75 metres and grades ranging from 0.75 per cent to 1.26 per cent copper equivalent as reported in previous news releases.

Hole GW24-04 was designed to intersect the zone at a shallower depth than hole GW24-03 in a 40-metre step ahead. The plan and section define the Farquharson zone over a strike length of 140 metres and to a downhole depth of 130 metres. The best results were obtained from the deepest hole, GW24-03. The potential depth extension of the Farquharson zone beneath hole GW24-03 will be a priority target for the 2025 drilling campaign.

Assays are pending on eight additional holes, GW24-08 to GW24-15. This includes five holes on the Logan copper nickel zone and three holes on the Granges copper nickel zone. After hole GW24-15 was completed, the drill was demobilized to Bathurst.

Diamond drilling at Menneval gold project

Slam Exploration mobilized the drill on Dec. 2, 2024, to its wholly owned Menneval gold project, where it drilled two holes for a total of 340 metres. Hole BG24-34 tested zone 9 and intersected a 4.19-metre zone with 60 per cent quartz-carbonate veins from 19.03 metres to 23.22 metres. This was included in a 27.10-metre zone with 5 per cent to 10 per cent quartz veining from 5.50 metres to 32.60 metres. From 2 per cent to 5 per cent quartz veins occur from 32.60 metres to 58.55 metres. Min or quartz veins occur from 58.55 to the end of the hole at 188.00 metres.

Hole BG24-35 tested zone 22 and intersected a 24.30-metre interval containing 5 per cent quartz-calcite veins with fine pyrite from 66.90 metres to 91.20 metres. The hole stopped at 152 metres. The drill was then demobilized due to the onset of winter conditions. Gold assays are pending on 117 samples sawn from the two holes.

QA/QC (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, tagged and delivered to ALS Chemex Ltd. in Moncton, N.B. Slam inserted standards and blanks into the sample series. ALS Chemex analyzed all samples for multielements using their methods ME-ICP41. The Menneval core samples were handled in a similar fashion and delivered to Activation Laboratories Ltd. (Actlabs) in Fredericton for gold fire using assay method 1A2-30.

About Slam Exploration Ltd.

Slam is a public resource company with a substantial portfolio of mineral claimholdings 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 (BMC) 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 GW24-08 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 statement

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.

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