SLAM Acquires Additional Zinc Properties Exploration Update on Base Metal and Gold Prospects

SLAM Acquires Additional Zinc Properties

Exploration Update on Base Metal and Gold Prospects

MIRAMICHI, NB

,

Aug. 23, 2017

/CNW/ -

SLAM Exploration Ltd. (TSXV: SXL)

("

SLAM

" or the "

Company

") is pleased to announce it has acquired additional

mineral claims in the Bathurst Mining Camp ("BMC") of

New Brunswick

, Canada. The Company now owns 9 projects covering 22,600 hectares of prospective

land. SLAM selected these properties for acquisition based on a database that covers the entire BMC district. The database includes airborne and ground

geotechnical surveys as well as previous drilling results compiled from previous exploration workers and government sources. The most recent acquisition is the

North Rim zinc project adjacent to the Caribou mine property being operated by Trevali Mining Corp.

The North Rim zinc project comprises 2 mineral claims covering 2345 hectares underlain by volcano-sedimentary strata similar to the Caribou horizon. Roughly 16

diamond drill holes by previous workers were drilled in the vicinity of 3 mineral occurrences documented in the New Brunswick Mineral Occurrence Database. The

most significant drilling intercept to date is 0.5m grading 7.51% zinc, 2.03% lead, 0.16% copper and 40 g/t copper drilled in a 1997 hole that straddles the south

boundary of the property.

The LBM property comprises 2947 hectares contiguous to Trevali's Half Mile property on three sides. Approximately 2 dozen previous drill holes on targets

scattered over a 6 km strike length indicate the widespread presence of anomalous zinc, lead and copper mineralization in strata similar to the Half Mile deposits.

SLAM's 1376 hectare Satellite property comprises 2 mineral claims adjacent to and west of Trevali's

Heath Steele Mine

property. The property hosts the Satellite

mineral occurrence within strata similar to the rocks hosting the Heath Steele deposits. The most significant interval in the Satellite zone to date is 1.4 m grading

3.35% zinc, 3.35% lead and 0.3 % copper drilled in 1955.

The Company owns the 376 hectare Coulee property adjacent to the Flat Landing Brook zinc-lead-silver prospect owned by Osisko Metals Inc. Previous drilling

results suggest potential for extensions of the Flat Landing zone onto the Coulee property. In addition, the property is host to 2 other VMS occurrences

referenced as the Coulee prospect and the Louvicourt North prospects in the New Brunswick Mineral Occurrence Database.

SLAM's Connector property comprises 1350 hectares located between the former producing Brunswick No. 6 and No. 12 mines owned by Glencore. No 6,

discovered in October, 1952 was the first major discovery in the Bathurst Mining Camp. The massive Brunswick No 12 deposit was discovered in 1953 and

operated continuously from 1964 to 2013. It produced 150 million tonnes of ore grading 8.46% zinc, 3.33% lead, 0.37% copper, and 99 g/t silver. Provincial

geological records show that the same volcano-sedimentary strata that control these deposits extend beneath the Connector property.

The initial phase of a preliminary prospecting and trenching program was completed on SLAM's 2572 hectare Lower 44 property which is underlain by the former

Wedge copper mine, the West Wedge zone, the

Essex

zone and the Tribag zone. The location is 20 km south of the Caribou mine owned and operated by Trevali

Mining Corp. The trenching program uncovered 2 mineralized chert horizons thought to represent the Tribag zone. The West Wedge zone was not accessible for

trenching but drill collar locations for some previous drill holes were located. SLAM may utilize these collar locations to plan future drilling on this occurrence. The

best drilling intercept to date is a 3.8 m core length grading 12.9% zinc, 5.35% lead, 0.78% copper, 70.6 g/tonne silver and 1.37 g/t gold reported from the West

Wedge zone in 1983.

The Menneval Gold Project:

SLAM resumed excavation of the Maisie gold vein at its wholly-owned Menneval gold project. Approximately 200 tonnes of

additional vein material was excavated and stockpiled. Although visible gold was noted in some of this material, it was not observed in sufficient quantities to

warrant additional processing or excavation activities. SLAM has shut down the operation. The vein remains open at depth and SLAM may plan for future

exploration programs to test the depth potential of this gold-bearing system.

Current Activities:

The Company intends to focus on the zinc potential of its mineral claims in the Bathurst Mining Camp. The Company will continue with

preliminary exploration activities to locate historic occurrences and identify drilling targets on the Lower 44, Connector, Coulee, Satellite, LBM, North Rim and

other properties within the BMC.

Joint Venture/Earn-In Opportunity

: SLAM has a portfolio of zinc-lead-silver properties available for joint venture or earn-in agreements in the Bathurst Mining

Camp of New Brunswick. These include the properties described above as well as Costigan and other properties with mineral potential demonstrated by previous

drilling results. For additional information, call

Mike Taylor

506-623-8960.

About SLAM Exploration Ltd:

SLAM is a project generating resource

company that

holds an NSR royalty on the Superjack and

Nash Creek

zinc

lead

copper

silver deposits and owns a

portfolio of base metal properties in the Bathurst Mining Camp ("BMC") of

New Brunswick

. The Company intends to utilize its extensive BMC mineral database to

explore and develop properties in this historic region of mineral potential. Other projects include the Menneval gold project and the Reserve Creek and Miminiska

gold projects in

Ontario

. Additional information about SLAM and its projects is available at

www.slamexploration.com

or from SEDAR filings at

www.sedar.com

. Follow us on twitter @SLAMGold.

Qualifying Statements:

Mike Taylor

, P.Geo. President and CEO of SLAM Exploration Ltd., as the Qualified Person, approves the scientific and technical

disclosure in the news release.

Certain information in this press release may constitute forward-looking information, including statements

that address the Private Placement, the closing of the

Private Placement, future production, reserve

potential, exploration and development activities and events or developments that the Company expects.

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.sedar.com

. 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.

SOURCE

SLAM EXPLORATION LTD.

View original content: http://www.newswire.ca/en/releases/archive/August2017/23/c4204.html

%SEDAR: 00012459E

For further information:

Mike Taylor, President & CEO, Contact: 506-623-8960, [email protected]; Eugene Beukman, CFO, Contact: 604-687-

2038, [email protected]

CO: SLAM EXPLORATION LTD.

CNW 09:00e 23-AUG-17