Michael Johnson Appointed Vice President Exploration

Vancouver, BC, February 29, 2012 – Slater Mining Corporation (TSX-V: SLM) – Slater Mining Corporation is pleased to announce the appointment of Michael Johnson P. Geo. as Vice President Exploration. Mr. Johnson has thirty-seven years of geological experience, including eighteen years of experience in senior management positions with public mining companies. Most recently Mr. Johnson was the Chief Executive Officer of Calvista Gold Corporation. His experience ranges from grassroots exploration to mineral production. Mr. Johnson has participated in the discovery and development of mines as well as significant increases in mineral reserves at numerous properties globally. He also has extensive capital markets experience. Mr. Johnson received his Bachelors of Sciences degree from the University of London in 1973 and has been a professional geologist accredited by the American Institute of Professional Geologists since 1992.

Tim Petterson has resigned as Vice President Corporate Development in order to focus full time on his role as Chief Executive Officer of Black Eagle Mining Corporation. Mr. Petterson remains an active member of the board of directors of Slater Mining.

For further information, contact:

Ian Slater

Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward- looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements. This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

920 – 1030 West Georgia Street, Vancouver, British Columbia, Canada, V6E 2Y3 +1 604 638 2545 +1 604 638 2546 fax