Slam Announces Shares FOR Debt Settlement
TSXV: SXL
SLAM ANNOUNCES SHARES FOR DEBT
SETTLEMENT
Not for Distribution to U.S. Newswire Services or for Dissemination in the United States
For Immediate Release January 9, 2025
Miramichi, New Brunswick ‐ SLAM Exploration Ltd. (TSXV: SXL) (“SLAM” or the “Company”)
proposes to issue an aggregate of 6,000,000 common shares in the capital of the Company at an agreed
price of $0.05 per share to settle $300,000 in debt (the “Debt Settlement”) with a creditor that is an insider
of the Company.
The board of directors and management of the Company believe that the proposed Debt Settlement
transaction is in the best interests of the Company insofar as it allows the Company to allocate a greater
portion of its cash on hand for exploration and general working capital.
The Debt Settlement is subject to receipt of TSX Venture Exchange approval. Common shares issued
pursuant to the Debt Settlement will be subject to a statutory four-month and one day hold period from the
date of issuance in accordance with Canadian Securit ies Law and the policies of the TSX Venture
Exchange.
MI 61-101 Disclosure
One Insider of the Company will be participating in the Debt Settlement and is a related party of the
Company pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special
Transactions ("MI 61-101"). Related party involvement in the Debt Settlement constitutes a "related party
transaction". The Company expects to rely on the exemptions from the formal valuation and minority
shareholder approval requirements of MI 61-101 pursuant to Sections 5.5(a) and 5.7(1)(a) respectively, as
neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the
Debt Settlement, insofar as it involves interested parties, exceeds 25 per cent of the Company's market
capitalization.
Menneval Purchase Agreement – Boundary Gold Claim
Further to the Company’s news release dated December 18, 2024, SLAM is pleased to also announce that
the TSX Venture Exchange has approved the Purchase Agreement with Gravel Developments Inc. (the
“Vendor”) dated November 25, 2024, to acquire a 100% interest in one (1) mineral claim (tenure) with 129
units (the “Property”) located in northwestern New Brunswick.
SLAM can earn a 100% interest in and to the Property by making the following common share (the
“Shares”) and Share Purchase Warrant (the “Warrants”) issuances on closing:
Due Date Common Share and Warrant Payments *
On Closing 2,000,000 Shares
On Closing 1,000,000 Warrant. Each Warrant will entitle the
Vendor to acquire one Share at a price of $0.05 for
a period of 24 months after the closing.
*The Share Issuances will be subject to a 4-month hold period in accordance with TSX Venture Exchange
regulations.
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About SLAM Exploration Ltd: SLAM Exploration Ltd. is a public resource company with a large
portfolio of mineral claim holdings in the mineral -rich province of New Brunswick. T he Company has
reported significant copper, nickel and cobalt intercepts from the first 7 diamond drill holes completed on
it’s wholly owned Goodwin copper nickel project in the Bathurst Mining Camp (“BMC”) of New
Brunswick. These include consistent copper-nickel-cobalt intervals ranging from 46 meters to 75 meters
and grading 0.75% to 1.01% copper equivalent in 5 holes drilled on the Farquharson zone. Results from
two holes on the Granges zone include a 64.90 meter core interval grading 2.14% copper equivalent in hole
GW24-02. Assays are pending on 3 additional holes drilled on the Granges zone and on 5 holes drilled on
the Logan zone. Based on the drilling results, the Company expanded the Goodwin Project to cover 11,450
hectares.
Gold assays are pending on 117 core samples sawn from 2 holes drilled by Slam on its wholly owned
Menneval gold project and submitted for fire assay to Actlabs. SLAM has previously discovered multiple
gold veins on its wholly owned Menneval gold project. The Company 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 in news releases on December 13, 2021
and November 22, 2022.
In 2023, 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. SLAM also owns the Mine Road copper zinc silver project
adjacent to the former producing Heath Steele Mines property in the BMC. Successful diamond drill
holes at Mine Road by previous workers include IL2014-003 with a 9-meter core interval grading
14.51% zinc, 5.8 6% lead, 0.67% copper and 139.9 g/t silver on the volcanogenic massive sulphide
Railroad zone at Mine Road. (Doe Run Canadian Exploration ULC; 2015, New Brunswick Assessment
Files, Report of Work 477877), The Railroad zone is 7,000 m east of the 20 million tonne for mer
producing Heath Steele B Zone.
The Company is a project generator and received significant cash an d share payments over the last
12 months as follows; 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 gold project.
To view SLAM’s corporate presentation, click SXL-P resentation. 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 con stitute forward-l ooking info rmation, including statemen ts
regarding mineral resources and th e Comp any’s plans with respect to th e exploration and development of its
properties. This information is based on current expectations that are subject to sig nificant risks a nd uncertainties
that are difficult to predict. Actual results might differ materially from results su ggested in any forward-l ooking
statements. The Company assumes no obligation to update the forward-l ooking statements, or to update the
reasons why actual results could differ from those reflected in the forward looking-s tatements unless and until
required by secu rities laws applicable to the Company. There a re a number of risk factors th at could cause
future results to differ materially from those described herein. Informa tion identifying risks and uncertainties is
contained in the Company's filings with the Canadian securities regulators, which filings a re availa ble a t
www.sedarplus.ca. Neither the TSXV nor its Regulation
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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