Mr. Jimmy Gravel reports

SLAM MOBILIZES DRILL TEAM TO MOOSE LAKE, INTERSECTING BROAD ZONES OF BRECCIATED AND ALTERED ROCK WITH VISIBLE STIBNITE ALONG THE MOOSE LAKE FAULT ZONE

The Slam Exploration Ltd. drill team has mobilized to the company's Moose Lake gold-antimony-silver project following completion of the 2026 Goodwin copper-nickel-cobalt drill campaign. Two NQ diamond drill holes, ML26-01 and ML26-02, were drilled along the Moose Lake fault zone beneath antimony-bearing trenches completed by the company.

"Our trenching crews have exposed antimony mineralization at two separate occurrences along the Moose Lake Fault zone, both being hosted within a silicified breccia," said Jimmy Gravel, president and chief executive officer of Slam. "At Moose Lake, we have antimony in trenches and outcrop over roughly 850 metres, and at Skull we see high-grade antimony sitting next to gold- and silver-rich quartz. With the Goodwin program complete, the rig has moved onto a fault system with known mineral occurrences that has seen little historical exploration or drilling."

Drilling has currently intersected faulted and brecciated altered rock containing visible pyrite, arsenopyrite and stibnite. A total of 224.5 core metres has been drilled over two core holes with 145 samples collected for ICP-multielement analysis and gold assay by fire assay. Assay results are currently pending. Both holes were collared near previously trenched areas exposing mineralized brecciated rock containing gold, silver and antimony. Drill collar information is present in Table 1.

The drilling follows up on the 2026 trenching and sampling program, which exposed antimony, gold and silver mineralization at both the Skull and Moose Lake occurrences along the northwest-trending Moose Lake fault zone.

Highlights of the 2026 drilling program to date include:

• Hole ML26-01 intersected brecciated, fractured and altered metasedimentary rocks visible pyrite, arsenopyrite and stibnite from 5.0 metres to the end of the hole at 77.0 metres, including a fault zone with clay gouge and graphite between 25.0 and 32.3 metres.
• Hole ML26-02 intersected strongly brecciated, clay and sericite-altered rock with pyrite, arsenopyrite and stibnite from 5.0 to 57.6 metres, including strong silicification and quartz flooding from 51.4 to 57.6 metres. The hole continued intersecting heavily altered and brecciated rock to the end of the hole at 147.5 metres.
• Both holes were stopped in highly broken ground while still in altered and brecciated rock; ML26-02 ended in a brecciated quartz vein with traces of pyrite and stibnite.

"The initial observations from the Moose Lake drilling show that the brecciated, altered and stibnite-bearing rock we mapped in the trenches carries on below surface," said Jimmy Gravel, president and chief executive officer of Slam. "Both holes stayed in altered breccia with sulphides from near surface to the bottom of the hole, and ML26-02 was still in quartz veining with stibnite when ground conditions forced us to stop. With antimony in trenches over roughly 850 metres at Moose Lake and high-grade antimony next to gold- and silver-rich quartz at Skull, we look forward to the assay results from this fault system, which has seen very little drilling. Antimony is a critical mineral."

2026 trenching and sampling results

Results for 61 grab samples have been received to date from the 2026 trenching and prospecting program: 47 samples (35 trench and 12 outcrop) from the Moose Lake occurrence and 14 trench samples from the Skull occurrence. Initial results from the Skull trenches were reported on Sept. 22, 2026. Three Skull samples that originally reported above the antimony detection limit have since been reanalyzed using the Sb-ICP08 method, and returned 3.73 per cent, 1.38 per cent and 1.14 per cent Sb (antimony).

The Skull and Moose Lake trench areas are approximately 3.5 kilometres apart along the Moose Lake fault zone, which hosts three known antimony occurrences (Skull, Moose Lake and Stewart) over approximately 4.7 kilometres.

Geology of the Moose Lake project

Located in the Bathurst mining camp, the Moose Lake project covers three epithermal gold-antimony occurrences, the Skull, Moose Lake and Stewart, which are spatially associated with the northwest-trending regional Moose Lake fault zone and are spread along approximately 4.7 kilometres. The fault appears to act as a pathway for epithermal fluids, containing highly silicified breccia zones cut by quartz veining with visible stibnite and arsenopyrite. The breccia zones are commonly found along the contacts between sedimentary and granitic rocks.

At the Moose Lake occurrence, mineralization is hosted by a siliceous breccia composed of creamy, pale green cherty and steel-grey siliceous fragments in a fine-grained, grey to dark grey siliceous matrix, locally cut by quartz-vein stockwork. Stibnite occurs as disseminations, blebs, stringers and needles with arsenopyrite, together with minor pyrite and chalcopyrite. The mineralized breccia is accompanied by clay alteration and iron-carbonate alteration that weathers to distinctive yellow, orange and brown surfaces, and is locally in contact with fault gouge.

At the Skull occurrence, mineralization is hosted by smoky grey quartz and quartz breccia within silicified sedimentary rocks and possible felsic tuff-breccia, with iron-carbonate alteration on weathered surfaces. Mineralized horizons measured in the trenches are 20 to 30 centimetres wide, strike between 100 degrees and 108 degrees, and dip steeply at approximately 80 degrees, subparallel to the trend of the Moose Lake fault zone.

Mineralization trends along the Moose Lake fault zone

Initial results from the 2026 drill program outline several trends that will guide further exploration activities along the project:

• Continuity at depth: The first drill holes show that the brecciation, alteration and visible stibnite seen in the Moose Lake trenches continue below surface. ML26-02, drilled at negative 70 degrees, remained in altered and veined breccia to a vertical depth of approximately 135 metres below the collar.
• Alteration as a vector: Strong silicification, brecciation, iron-carbonate, clay and sericite alteration accompany the mineralization at both occurrences and in drill core and provide mappable guides to the mineralized structure.
• Extension to the southeast: Contiguous to Moose Lake, Slam's wholly owned Slacks Lake claim group covers a number of antimony anomalies detected in regional till surveys and associated with the Moose Lake fault zone, indicating potential for the mineralized trend to continue beyond the known occurrences.

Assay results from the 2026 trenching program have not only provided anomalous targets for drilling, but have identified the potential for metal zoning:

• Metal zoning: At Skull, the antimony-rich samples (1.14 per cent to 3.73 per cent Sb) are separated by roughly 150 to 230 metres from samples rich in gold and silver (up to 1.965 g/t Au and 73.5 g/t Ag) but low in antimony. At Moose Lake, mineralization to date is antimony dominant with lower gold and silver. This separation of antimony-rich and gold-silver-rich material suggests metal zoning, which the company intends to test with systematic sampling and drilling.

The project covers 3,895 hectares, is road accessible and is in close vicinity to Slam's Goodwin copper-nickel-cobalt project.

Next steps

The drilling campaign is designed to test the continuity of the antimony-gold-silver mineralization exposed in the 2026 trenches below surface and along strike. Assay results from ML26-01 and ML26-02 will be integrated with the trenching results to guide follow-up drilling, including drilling beneath the high-grade antimony and gold-silver trenches at Skull to test the metal zoning observed at surface, and further testing of the approximately 850-metre antimony-bearing breccia at the Moose Lake occurrence. Results will be used to refine the structural model for the Moose Lake fault zone and to prioritize targets along the remainder of the 4.7-kilometre trend, including the Stewart occurrence.

The Moose Lake project was acquired through an option agreement dated March 30, 2026, as announced April 7, 2026.

Goodwin project

The rig moved to Moose Lake after the company completed 19 NQ-sized diamond drill holes totalling 3,349 core metres on the Goodwin copper-nickel-cobalt project between June and Oct. 5, 2026. A total of 235 assay results are pending at the time of this release for holes GW26-37 to GW26-43. Current highlights include 29.85 core metres grading 0.968 per cent CuEq 95 per cent in hole GW26-29, 14.45 core metres grading 1.533 per cent CuEq 95 per cent in hole GW26-33, and a new sulphide discovery in hole GW26-36 grading 0.448 per cent CuEq 95 per cent over 42.5 core metres, located 2,000 metres northwest of the Logan zone. CuEq 95 per cent is calculated from recovered grades using a 95-per-cent recovery rate and metal prices for copper, nickel and cobalt published Oct. 7, 2026, on Daily Metal Price.

Exploration, Mining, and Petroleum Conference -- EMP 2026

Slam is excited to be taking part in the 51st annual Exploration, Mining, and Petroleum (EMP) Conference, hosted by the New Brunswick Department of Natural Resources. The conference runs from Oct. 25 to Oct. 27, 2026, at the Delta Hotel by Marriott in Fredericton. The company will be exhibiting at the conference trade show, with attendees encouraged to visit the booth to meet the Slam team and discuss the company's exploration portfolio in New Brunswick, including the Moose Lake and Goodwin projects. Mike Taylor, chairman of the board, will also provide a company presentation on Oct. 26, 2026, at 11:48 a.m.; discussing the recent drilling and exploration successes.

Qualifying statement

Mike Taylor, PGeo, chairman of the board of Slam Exploration, is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the contents of this news release.

Sampling and QA/QC (quality assurance/quality control) procedures

Moose Lake drill core is NQ size and was logged by Slam geologists. After logging, samples were sawn using a diamond blade. Sawn half-core samples were numbered, collected in bags, tagged and delivered to ALS Chemex laboratory (ALS) in Moncton. ALS will perform multielement analysis using ME-ICP41 and gold assay by fire assay. Quality control samples, comprising certified reference standards and blanks, were inserted at regular intervals in accordance with industry-standard protocols. All samples were collected, labelled and sealed by Slam field personnel. Core is stored securely at the company's core logging facility in Bathurst.

The Moose Lake trenching samples are collected from trenches and outcrops by Slam field personnel. All samples were collected, labelled and sealed by Slam field personnel then shipped to ALS Chemex laboratory (ALS) in Moncton. ALS will perform multielement analysis using ME-ICP41 and gold assay by fire assay. Grab samples are selective by nature and the values reported may not be representative of the mineralization on the property. Additional assay results will be reported in subsequent news releases as they are received.

About Slam Exploration Ltd.

Slam Exploration is a publicly listed resource company with a 40,000-hectare portfolio of mineral claim holdings in the mineral-rich province of New Brunswick. The portfolio is built around the Goodwin copper-nickel-cobalt project in the Bathurst mining camp (BMC) of New Brunswick. The company also holds the Jake Lee gold project, where a new gold vein discovered in 2025 has returned up to 40.5 g/t gold and 63.30 g/t silver from channel samples, and the Menneval gold project, where a soil anomaly measuring approximately 3,000 by 2,500 metres has returned gold-bearing samples up to 0.683 g/t gold.

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

We seek Safe Harbor.