(TheNewswire)

Copper Nickel Cobalt Zones Show Improving Grade At Depth

February 12, 2025 – TheNewswire - Miramichi, New Brunswick ‐ SLAM Exploration Ltd. (“SLAM” or the “Company”) (TSXV-SXL) is pleased to announce it drilled a 117.6 meter core interval grading 0.54% copper equivalent including a new high grade zone of 17.1 meters grading 1.1% copper equivalent in hole GW24-15 in the Logan Zone. GW24-15 is 450 meters north of a 64.9 meter interval grading 2.00% copper equivalent drilled in hole GW24-02.

The Farquharson, Logan and Granges zones are hosted within sill-like gabbro units with potential for ovoid bodies and other structural traps that could host large accumulations of copper, nickel and cobalt mineralization located on Slam’s wholly owned Goodwin claims in the mineral-rich Bathurst Mining Camp of New Brunswick. All 3 zones are all open along strike as well as at depth and represent high priority targets for the 2025 drilling campaign.

The new high grade zone in GW24-15 is the deepest intercept to date on the Logan zone. It is 1,000 meters northwest of a 60.6 meter interval grading 1.11% copper equivalent drilled in hole GW24-03 on the Farquharson zone. This is the deepest and highest grade intercept on the Farquharson zone. High grade mineralization occurs near surface in the Granges zone. All 3 zones are open along strike and at depth.

The grade of the Logan copper nickel zone is increasing at depth as shown in 3 holes drilled on one line and portrayed on the cross section below:

Figure 1 Logan Copper Nickel Zone Cross Section
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The new high grade zone at a depth of 200 meters in hole GW24-15 is a repeat of a similar copper nickel zone at the same depth in GW24-14. It is a 50 meter step-out to the southeast of GW24-14 as shown on the drill plan map below. The Logan zone is open at depth and along strike.

Figure 2 Logan Copper Nickel Zone Drill Plan Map
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The Logan Zone: The Logan copper nickel zone is located 450 meters north of the Granges zone where Slam previously reported 2.00% copper equivalent over 64.9 meters in hole GW24-02. Slam also reported 1.49% copper equivalent over 47.00 meters in hole GW24-03 on the Farquharson copper nickel cobalt zone 1,000 meters southeast of the Logan zone . Selected results are tabled below:

The Farquharson Zone: All 5 holes on the Farquharson zone intersected copper nickel mineralization over core intervals ranging from 46 meters to 75 meters and grades ranging from 0.75% to 1.26% copper equivalent as previously reported. These holes define the Farquharson zone over a strike length of 140 meters and to a downhole depth of 130 meters. As in the Logan zone, the grade of the Farquharson zone is increasing with depth. The best Farquharson interval was drilled in GW24-03 as shown on the cross section below:

Figure 3 Farquharson Copper Nickel Cross Section
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All 3 zones as well as other potential targets are located on the aeromagnetic map below:

Figure 4 Goodwin Aeromagnetic Map, Copper Nickel Zones, Drill Hole Locations

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The Goodwin project also includes the Bruce copper nickel occurrence acquired in 2024 and a block of claims recently staked to cover a large area of aeromagnetic anomalies associated with gabbro intrusive bodies. The Goodwin project now covers 11,450 hectares of prospective ground extending from the Bruce occurrence for 25 kilometers westward to a copper nickel float occurrence located on a prospector’s claim.

PDAC Investors Exchange: For more information about the Goodwin Copper Nickel Project and about Slam, visit Booth 3228 from Sunday March 2 to Wednesday March 5, 2025 at the Metro Toronto Convention Center.

Canada’s Atlantic Edge Session: Mike Taylor will participate in this session with a presentation titled “The Goodwin Copper Nickel Project” at 11:55 AM on Tuesday, March 4, 2025 at Ballroom A of the Intercontinental Hotel in downtown Toronto.

QA-QC Procedures : Core was collected from the drill in trays and delivered to a secure logging facility in Bathurst, New Brunswick. After logging, samples were sawn using a diamond blade. Sawn half-core samples were numbered, collected in bags, tagged and delivered to Activation Laboratories Ltd. (Actlabs) in Fredericton for multi-element analysis using their methods assay method AR-ICP. Samples that were over-limit (above 1%) for the ICP method were re-analyzed using method 8-AR.

About SLAM Exploration Ltd: SLAM Exploration Ltd. is a public resource company with a large portfolio of mineral claim holdings in the mineral-rich province of New Brunswick. T he Company has reported significant copper, nickel and cobalt intercepts from 15 diamond drill holes completed on the Goodwin copper nickel project in the Bathurst Mining Camp (“BMC”) of New Brunswick. Highlights include a 64.90 meter core interval grading 2.14% copper equivalent in Granges zone hole GW24-02, a 60.60 interval grading 1.17% copper equivalent in Farquharson zone hole GW24-03 and 117.6 meters grading 0.54% copper equivalent including a new high grade zone of 17.1 meters grading 1.1% copper equivalent in hole GW24-15 meters on the Logan zone. Based on these significant drilling results, the Company expanded the Goodwin Project to 11,450 hectares covering a 25 kilometer stretch of aeromagnetic anomalies associated with gabbro bodies and potential copper nickel occurrences.

Gold assays are pending on 117 core samples sawn from 2 holes drilled by Slam on its wholly owned Menneval gold project and submitted for fire assay to Actlabs. SLAM has previously discovered multiple gold veins on its wholly owned Menneval gold project. The Company reported gold bearing core intervals including 162.5 g/t gold over 0.2 m and 56.90 g/t gold over 0.5 m in news releases on December 13, 2021 and November 22, 2022.

In 2023, the Company reported quartz float grading up to 39.2 g/t gold on its Jake Lee project in the vicinity of the Clarence Stream gold deposit where Galway Metals Inc. is working on a 2.3 M 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. Successful diamond drill holes at Mine Road by previous workers include IL2014-003 with a 9-meter core interval grading 14.51% zinc, 5.86% lead, 0.67% copper and 139.9 g/t silver on the volcanogenic massive sulphide Railroad zone at Mine Road. (Doe Run Canadian Exploration ULC; 2015, New Brunswick Assessment Files, Report of Work 477877), The Railroad zone is 7,000 m east of the 20 million tonne former producing Heath Steele B Zone.

The Company is a project generator and received significant cash and share payments over the last 12 months as follows; 534,000 shares and 333,000 warrants (exercisable at $0.01) issued by Nine Mile Metals Inc. (NINE) on March 01, 2024 pursuant to the Wedge project agreement and $25,000 cash plus 2,500,000 shares of Lode Gold Resources Inc. (LOD) pursuant to the Ramsay gold agreement. The Company holds NSR royalties and expects additional cash and share payments on the Wedge copper zinc project and on the Ramsay gold project.

To view SLAM’s corporate presentation, click SXL-Presentation . Additional information is available on SLAM’s website and on SEDAR+ at www.sedarplus.ca . Follow us on X @SLAMGold.

Qualifying Statements: Mike Taylor P.Geo, President and CEO of SLAM Exploration Ltd., is a qualified person as defined by National Instrument 43-101, and has approved the contents of this news release.

Certain information in this press release may constitute forward-looking information, including statements regarding mineral resources and the Company’s plans with respect to the exploration and development of its properties . This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. There are a number of risk factors that could cause future results to differ materially from those described herein. Information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedarplus.ca . Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION:

Mike Taylor, President & CEO

Contact: 506-623-8960 mike@slamexploration.com

Eugene Beukman, CFO

Contact: 604-687-2038 ebeukman@pendergroup.ca SEDAR+: 00012459

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