SLAM ACQUIRES ROGER LAKE GOLD PROPERTY New Mineral Properties In Emerging Gold District
TSXV: SXL
SLAM ACQUIRES ROGER LAKE GOLD PROPERTY
New Mineral Properties In Emerging Gold District
For Release 7:00 AM ET, November 2, 2022
Miramichi, New Brunswick ‐ SLAM Exploration Ltd. (“ SLAM” or the “ Company” on TSXV: SXL ) is
pleased to announce it has entered into an option agreement (the “ Option Agreement”) to acquire the
Roger Lake gold property located 30 kilometres west of Saint John, New Bru nswick (the “ Property”).
Previous workers detected elevated gold levels ranging up to 16,200 parts per billion (“ppb”) gold in soil
samples collected from the property. The soil anomalies may be associated with the potential source of
historic placer gold mineralization known as the Lepreau river gold occurrence (NB mineral occurrence
file 563).
The Roger Lake Gold Project
Anomalous levels of gold includ ing one sample at 16,200 parts per billion (“ppb”) gold and 121 samples
ranging from 10 to 173 ppb gold were detected in a soil geochemical survey of 1904 samples collected
by previous workers in 2021. The B-Horizon survey covered 500 hectares on a 5 by 1 kilometer grid with
sample spacing at 25m intervals along lines 100-metre apart. These gold -bearing soil samples are
associated with volcano -sedimentary and intrusive rocks in the vicinity of the Belleisle Bay fault zone.
Anomalous gold values occur across the entire 5-kilometer-long grid and remain open in all directions.
The Roger Lake claim is also host to the Lepreau River gold occurrence referenced as number 563 in the
New Brunswick Mineral Occurrence File. According to historical reports, “Large flakes of gold (up to 5
mm) were found in the gravels of the Lepreau River about 4 km north of the village of Lepreau...”.
Although this occurrence has never been confirmed by assay, SLAM intends to search for the potential
bedrock source of the placer gold as well as the elevated gold levels in soil samples.
The Roger Lak e claim is adjacent to SLAM’s Jake lee gold project comprised of 8 claims covering 6651
hectares of spread over a 20 km stretch of volcano -sedimentary rocks along the Wheaton Brook and St
George fault zones. Soil geochemical surveys completed at Jake lee b y SLAM in 2022 comprise 1,478
samples collected on 5 grids. Anomalous samples include 102 samples in the 5 to 9 ppb gold range and
35 samples in the 10 to 177 ppb gold range. SLAM’s advance scout team discovered an outcrop of quartz
8 m by 6 m in size during a recent prospecting expedition. A train of angular boulders ranging from 10 kg
to 50 kg in size extends 250 m north and 250 m south of the quartz outcrop . Some of these boulders are
mineralized with up to 2% iron and copper minerals including hematite , pyrite and chalcopyrite. Assays
are pending on 40 grab samples.
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The Roger Lake Property Acquisition
The Property covers 125 claim units comprised of 1 mineral claim located adjacent to the Company’s
Jake Lee and Pug Hole claims. To earn a 100% interest, the Company will be required to issue 1,000,000
common shares and pay $200,000 cash in accordance with the following payment schedule:
Due Date Common Share
Payments
Cash Payment
Upon signing the Option Agreement - $10,000
Upon receipt of approval from the TSX-V 100,000 -
On or before the 1st anniversary of signing the
Option Agreement
200,000 $15,000
On or before the 2nd anniversary of signing the
Option Agreement
200,000 $25,000
On or before the 3rd anniversary of signing the
Option Agreement
200,000 $50,000
On or before the 4th anniversary of signing the
Option Agreement
300,000 $100,000
Total 1,000,000 $200,000
The Property is subject to a royalty of 2% Net Smelter Return (“NSR”). The Company may purchase one
half of the royalty for $1,000,000 at any time and the remaining half of the royalty for $2,000,000 at any
time.
The Option Agreement remains subject to approval by the TSX Venture Exchange.
About SLAM Exploration Ltd:
SLAM is a project -generating resource company with base and precious metal properties in New
Brunswick and Ontario, Canada. In addition to its flagship Menneval g old project, the Company owns a
portfolio of base metal properties in the Bathurst Mining Camp (“BMC”) in northern New Bru nswick.
SLAM is actively exploring the Jake Lee, Mount Victor and Little Mount Pleasant gold properties in
southwestern New Brunswick where Galway Metal’s is working on a multi-million ounce gold deposit at
Clarence stream. SLAM owns the Gold Brook and Birch Lake gold projects in central New Brunswick. The
Company holds NSR royalt ies on the Ferguson Brook an d Ramsay Brook gold properties and on the
Superjack, Nash Creek and Coulee zinc -lead-copper-silver properties in the BMC. IN Ontario, the
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Company holds NSr royalties on the Reserve Creek and Opikeigen gold properties and also owns the
Keezhik and Miminiska gold projects in Ontario.
The Company has generated cash from the sale of securities received from mineral property option
agreements with other companies and has sufficient funds for the work currently in progress. 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.
QA‐QC Procedures : According to a news release March 17, 2021 published by previous workers at
https://brwexplo.ca/news/ regarding the Roger Lake geochemical survey, “S oil samples were analyzed
for gold using standard fire assay (30 gram) and Atomic Absorption (AA) finish methods and 45
additional elements were analysed by Inductively Coupled Plasma Emission Spectroscopy (ICP) at AGAT
Laboratories in Mississauga, Ontario. Field duplicates were taken approximately 1 meter from the
original sample every 20 samples. In-house analysis of standards and pulp duplicates were performed at
the lab. The 16,200 ppb sample didn’t have enough material to conduct a gravimetrical finish; fire assay
checks with AA finish were conducted on the remaining material which returned values of up to 1030
ppb. Some samples contained pulps that were less than 30 grams due to the granitic and coarse grained
composition of the B-Horizon soil.”
On the Jake Lee property, SLAM collected 1478 soil samples at a spacing of 25 m along north-south lines
spaced 200 m apart using GPS for location on 5 separate grids. After extraction by auger, samples were
placed in marked kraft bags and shipped to A GAT Laboratories of Mississauga, Ontario and/or ALS
Chemex in Sudbury, Ontario for gold analysis using Fire Assay with AAS finish.
Qualifying Statements: Mike Taylor P.Geo, President and CEO of SLAM Exploration Ltd., a qualified
person as defined by National Instrument 43 -101, approves the technical information contained in this
news release.
Certain information in this press release may cons titute 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 availab le 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.
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CONTACT INFORMATION:
Mike Taylor, President & CEO
Contact: 506-623-8960 [email protected]
Eugene Beukman, CFO
Contact: 604-687-2038 [email protected] SEDAR: 00012459E