SLAM Acquires Dam Lake Gold Project - Seite 2

Figure 1: Jake Lee-Dam Lake Aeromagnetics & Gold Occurrences

QA-QC Procedures: Edge completed 17 split-tube core holes from December 2020 to February 2021 to produce samples approximately 6 centimetres in diameter. Most of the holes were drilled and produced samples through overburden into bedrock. All till and overburden samples were submitted to Actlabs in Fredericton. Actlabs separated the fine portion (less than 0.177 mm) of each sample by sieving. Actlabs tested the fine samples using a Fire Assay procedure with Atomic Absorption finish (Actlabs code “FA-AA). The upper limit for this method is 5.0 g/t so one sample was reported to contain greater than 5.0 g/t gold.

Advisory Board: SLAM is pleased to report that it has appointed Ken Booth and Dustin Nanos to its advisory board effective immediately and it has granted 500,000 stock options to each party. The stock options have been issued in accordance with SLAM’s rolling stock option plan; each option is exercisable to purchase one share of the Company at a price of $0.05 for 3 years from the date of issuance.

Termination of Notre Dame Project: SLAM and St-Georges Eco-Mining Corp. have mutually agreed to terminate the Notre Dame Niobium Critical Mineral Agreement (the “Notre Dame Agreement”) previously announced on October 25, 2023.

The Company has also terminated the Shadow Lake Option by mutual agreement with the Optionor of that project. Termination of the Notre Dame and Shadow Lake projects will enable SLAM to concentrate on its wholly owned Menneval, Jake Lee and Highway gold projects and its Mine Road zinc copper silver project in New Brunswick.

Director Resignation: SLAM also advises that it has accepted the resignation of Jakson Inwentash from its board of directors, effective immediately. The Company wishes to thank Mr. Inwentash for his valuable contributions.

About SLAM Exploration Ltd: SLAM holds a large portfolio of mineral claim holdings in the mineral-rich province of New Brunswick. The flagship is SLAM’s wholly owned Menneval gold project in northern New Brunswick. The Company has also reported significant gold discoveries in southern New Brunswick on its Jake Lee and Highway projects. The Highway project has demonstrated polymetallic potential with 10 known mineral occurrences that include zinc, silver, copper, cobalt, molybdenum and tin as well as gold.