SLAM Exploration Acquires New Niobium Critical Mineral Project

MIRAMICHI, New Brunswick, Oct. 25, 2023 (GLOBE NEWSWIRE) -- SLAM Exploration Ltd. (TSX-V: SXL) (“SLAM” or the “Company”) is pleased to announce it has signed an arm’s length binding term sheet with St-Georges Eco-Mining Corp. (CSE: SX) (“St-Georges”) to give SLAM the option to acquire a 51% interest in the Notre Dame Niobium Critical Mineral Project (the “Notre Dame Project”). The Notre Dame Project is located 110 km northwest of the only niobium producing mine in North-America: the Niobec niobium mine in Quebec.

Project Highlights:

• Niobium and Rare Earth Element (REE): St-Georges identified niobium and REE’s associated with pegmatites and carbonatites.

• Niobium and REE’s: Grab samples range up to 2,320 ppm niobium (0.33% Nb2O5) with 3,901 ppm total REE including 1,726 ppm heavy REE and 2,175 ppm light REE.

• Four anomalous areas: Four target areas of anomalous niobium and rare earths have been identified for follow-up.

• Aeromagnetic signature: The niobium and REE occurrences are all associated with a 10-kilometre-long oval shaped aeromagnetic anomaly.

• Notre Dame Project: The project covers 6,404 hectares (64 km²) comprised of 116 mineral claims.

• Infrastructure: The project is accessible through a network of logging roads.

• Ready for Drilling Campaign: SLAM intends to complete additional prospecting and sampling in preparation for a trenching and drilling program.
  

SLAM President Mike Taylor states: “The Notre Dame Project is an exciting acquisition for SLAM. Several occurrences of niobium and REE’s are reported from pegmatites and carbonatites with a distinctive aeromagnetic signature. This is a key acquisition as SLAM builds up niobium, rare earth and lithium assets in the critical element space.”

Image 1: Notre Dame Project

About Niobium

Niobium is used as an alloy element in steels and superalloys. The ability to withstand high temperature makes its usage common in aerospace applications. Niobium-tin and niobium-titanium are used to make superconducting magnets. These magnets are critical components in magnetic resonance imaging (MRI) machines. Niobium is a potential additive or alternative battery metal for use in electric vehicles and is used to stabilize the cathode material in lithium-ion batteries. Demand for niobium is expected to increase along with the growing EV battery industry. According to Metal.com Niobium Pentoxide is currently trading in the US dollar range $48.76 to $50.15 per kilogram.