Private Placement

NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

PRIVATE PLACEMENT

Vancouver, BC, June 8, 2012 – Slater Mining Corporation (TSX-V: SLM) – Subject to the approval of the TSX Venture Exchange, the Company intends to complete a non-brokered private placement (the "Private Placement") of up to 2,857,143 units at $0.35 per unit. Each unit will consist of one common share and one half of one share purchase warrant, entitling the holder to purchase one common share of the Company at an exercise price of $0.50 per warrant for a period of 24 months from the date of closing, for aggregate gross proceeds of up to $1,000,000. All of the units issued under the Private Placement will be subject to a hold period of four months and one day from the date of issuance. The proceeds of the Private Placement will be used for general working capital purposes. The Company may pay finder's fees to arm's length parties in an amount equal to 6% of the proceeds raised under the Private Placement payable, at the discretion of the Company, in cash.

About Slater Mining

Slater Mining is developing the West Khazret gold project in the Urals Tectonic Belt in northwest Kazakhstan which is prolifically rich in both base and precious metals. The project area covers 320km² and contains multiple mineralised systems. The initial target is the Sineshikhan Fault which is 3km wide, has a strike length in excess of 16 km and extends across the border to the north into Russia where gold deposits along the structure are currently being exploited. Slater Mining is focused on bringing the major oxide open pit potential to account through shallow drilling and subsequent heap leach mine development. Exploration works to date include 132 drill holes and preliminary metallurgical work indicating that the oxide mineralisation is amenable to cyanide heap leaching giving recoveries of greater than 75%. A Preliminary Economic Assessment is planned to be completed by the end of 2013. A 220kV power line and roads traverse the project area.

Management has extensive experience operating in Kazakhstan. Ian Slater, Chief Executive Officer, has worked in Kazakhstan since 1995 originally as Managing Partner of Arthur Andersen’s Mining Practice. Robert Bell, Vice President Projects, has worked in Kazakhstan since 1993 on numerous projects, including developing the Mizak heap leach gold mine which is currently operated by Kazakhmys Plc. Tim Neall, Project Geologist, has worked in Kazakhstan since 1995, most recently with Kazakhmys Plc.

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

• 2 -

The scientific and technical information contained in this news release has been reviewed and approved by Michael Johnson P.Geo., Vice President Exploration, who is a “Qualified Person" as defined under National Instrument 43-101. For further information on Slater Mining please refer to our website www.slatermining.com, contact Ian Slater, Chief Executive Officer, or contact:

Kevin Arias

Manager Corporate Communications [email protected] +1 778 372 2556

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.