Slam Acquires New Copper Nickel Claims Permits IN Place FOR Copper Nickel Pro Gram IN Bathurst Mining CAMP
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TSXV: SXL
SLAM ACQUIRES NEW COPPER NICKEL CLAIMS
PERMITS IN PLACE FOR COPPER NICKEL PRO GRAM IN BATHURST
MINING CAMP
For Immediate Release, June 12th, 2024
Miramichi, New Brunswick ‐ SLAM Exploration Ltd. (TSXV-SXL) is pleased to announce it
has entered into an arm’s length option agreement with Prospect Or Corp. (the “Optionor”) dated
June 3, 2024, to acquire a 100% interest in 5 mineral claims (the “Property”) located 5
kilometres southwest of the Half Mile copper zinc deposit owned by Trevali Mining Corporation
and located in the Bathurst Mining Camp of New Brunswick . These claims were acquired to
cover potential extensions of known copper nickel occurrences on SLAM’s original Goodwin
project.
Goodwin Project Highlights: Previous workers cored a 5.7 metre interval grading 1.79%
copper plus 1.51% nickel in diamond drill hole GR87- 55 on the Granges zone located within
SLAM’s original Goodwin project. The core length in metres may not equal the true width of
this interval. Prior to the Granges discovery in 1987, two additional c opper nickel occurrences
named the Farquharson zone and the Logan zone had been discovered in drilling programs
dating back to 1960.
The Goodwin Project consists of 8 original claims plus 5 newly optioned claims that combine for
159 units that cover 3,474 hectares of prospective mineral ground. The project is underlain by
the Goodwin Lake gabbro, a 6,500 metre long body of intrusive rocks hosting the 3 copper
nickel occurrences referenced above. Permits are in place for a trenching and drilling program to
test for copper nickel mineralization as well as gold and platinum group metals. The Goodwin
project is accessible by logging roads from the Fraser Burchill road off Route 430 which
connects to the city of Miramichi 90 kilometres to the southeast.
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Figure 1: Goodwin Project Mineral Claims
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Figure 2: Goodwin Project Geology
The Agreement: To earn a 100% interest in and to the Property SLAM must pay the Optionor a
total of $ 60,000 CAD dollars over four (4) years and issue the Optionor a total of 1,000,000
common shares (Shares) in accordance with the following schedule:
Due Date Common Share Payments Cash Payment
Within 5 days receipt of approval
from the TSXV
200,000 $5,000
On or before 1st anniversary of
signing the Agreement
200,000 $10,000
On or before 2nd anniversary of
signing the Agreement
200,000 $10,000
On or before 3rd anniversary of 200,000 $15,000
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signing the Agreement
On or before 4th anniversary of
signing the Agreement
200,000 $20,000
Total 1,000,000 $60,000
Upon SLAM earning 100% interest, t he Optionor will retain a 2% net smelter return (“NSR”)
royalty on the Property (the “Production Royalty”). SLAM shall have the right to buy back one-
half of the Royalty equal to 1.0% NSR for one million dollars ($1,000,000) at any time and the
right of first refusal on the remaining NSR before the commencement of production.
The option agreement and proposed share issuance s remain subject to approval by the TSX
Venture Exchange. All security issuances will be subject to a statutory hold period of 4 months
and one day from issuance in accordance with Canadian securities laws. No finders’ fees were
paid on this arm’s length agreement.
QA-QC Procedures : The results described above are from news releases and reports that
predate NI43-101 regulations. The numbers can only be validated by additional drilling but the
Company deems these results to be useful to plan additional drilling.
About SLAM Exploration Ltd: SLAM Exploration Ltd. a public resource company with a
large portfolio of mineral claim holdings built around its wholly owned Menneval gold project in
the mineral -rich province of New Brunswick. SLAM has discovered multiple gold veins at
Menneval and previously 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 (news releases December 13, 2021 and November 22, 2022).
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.
The Company holds the Goodwin copper nickel project and the Mine Road VMS copper zinc
silver project in the mineral rich Bathurst Mining Camp of New Brunswick. Previous workers
discovered 3 copper nickel occurrences at Goodwin. Mineralized core intercepts were drilled
including 1.79% copper plus 1.51% nickel over 5.7 metres in diamond drill hole GR89- 55 on the
Goodwin project.
Successful diamond drill holes by previous workers include IL2014- 003 with a 9- metre core
interval grading 14.51% zinc, 5.86% lead, 0.67% copper and 139.9 g/t silver on the Railroad
zone at Mine Road. The Railroad zone is 7,000 m east of the 20 M tonne former producing
Heath Steele B Zone.
The Company is a project generator and has received significant cash and share payments over
the last 6 months as follows; $150,000 cash and 50,000 shares from S2 Minerals Inc. (STWO) on
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December 19, 2023 pursuant to the Reserve Creek gold agreement; 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, Reserve Creek and Opikeigen gold projects.
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 [email protected]
Eugene Beukman, CFO
Contact: 604-687-2038 [email protected] SEDAR+: 00012459