SLAM Acquires Peninsula Critical Minerals Lithium-Tantalum Project in Proven Lithium Camp in Québec From WhiteRock

302 Mineral Claims in Proven James Bay Lithium District

MIRAMICHI, New Brunswick, Nov. 22, 2023 (GLOBE NEWSWIRE) -- SLAM Exploration Ltd. (TSX-V:SXL) (OTC: SLMXF) (“SLAM” or the “Company”) is pleased to announce it has entered into an option agreement with Dustin Nanos and WhiteRock Corp. (“WhiteRock”) signed November 7, 2023 (the “Option Agreement”) whereby SLAM can acquire 100% of the Peninsula Critical Mineral lithium project neighboring the Rose lithium-tantalum project operated by Critical Elements Lithium Corp. located on the territory of Eeyou Istchee in the proven James Bay lithium camp in Québec. All sections of the project are located on the traditional lands of the Cree Nation of Eastmain. 

Project Highlights:

• Proven Lithium District: The Peninsula project comprises 302 claim units covering 4,700 hectares in 4 claim groups located 10 to 30 kilometres northeast of the 60 million tonne Rose lithium-tantalum deposit and mine project operated by Critical Elements Lithium Corp. (“CRE”). CRE filed a positive feasibility study October 11,2023 for a potential mine at the Rose Deposit* based on the following reserves and resources:
  
  
• Rose Deposit:
  CRE Website: 60 M tonne Rose Lithium Deposit as of August 1^st, 2023
  Probable Reserves*: 26.3 M tonnes 0.87% Li2O and 138 ppm Ta2O5
  Indicated Resources*: 30.561 M tonnes 0.93% Li2O and 118 ppm Ta2O5
  Inferred Resources*: 2.384 M tonnes 0.78 % Li2O and 129 ppm Ta2O5
  *Reference: Rose Lithium-Tantalum Project, Feasibility Study Ni 43-101, Technical Report, Critical Elements Lithium Corporation 1.3 Project No.: Ca0005226.0808, Effective Date: August 29, 2023, Issue Date: October 11, 2023 WSP Canada Inc.; pages 27-28 Mineral Resources and Reserves, SEDAR File 000024726.
  
  
• Lithium Potential of the Area:
  The Peninsula lithium project located northeast of the Rose lithium tantalum project as shown on Image 1 and is underlain by volcano-sedimentary and intrusive rock formations similar to those occurring on the Rose project. These formations could host pegmatites similar to the northeast-trending lithium pegmatite bodies that outcrop on the Rose project. Several potential areas of outcrop that are prospective for pegmatites can be identified from Google Earth and satellite views.