SLAM Announces Zinc Copper Silver Assays

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TSX-V: SXL

SLAM Announces Zinc Copper Silver Assays

For Release on January 12, 2024

Miramichi, New Brunswick ‐ SLAM Exploration Ltd. (TSX-V:SXL) (OTC: SLMXF)

(“SLAM or the “Company”) is pleased to report assay results up to 12.70% zinc, 13.10% lead

and 155 grams per tonne (g/t) silver from grab samples collected from its wholly owned Highway

project located in the mineral -rich province of New Brunswick, Canada during a prospecting

program in November, 2023. Selected results are as follows:

Sample East m North m Zinc % Lead % Copper % Silver g/t

RP960361 710216 5030598 0.22 0.09 0.01 5.40

RP960367 711194 5030417 12.70 13.10 0.13 155.00

RP960372 711197 5030209 0.11 0.01 0.24 7.90

RP960373 711198 5030209 13.40 7.22 0.17 77.50

Sample RP960361 was collected from bedrock rubble 1,500 m northwest of a historic gold

occurrence number 334 in the New Brunswick mineral database. Previous workers reported a

channel sample that averaged 2.33 g/t gold over 6.7 metres in a roadside rock-cut at No 334. SLAM

has previously reported confirmation of this gold occurrence with 4 grab samples ranging from

0.227 g/t to 2.75 g/t gold.

Samples RP960367, 960372 and 960373 were collected from boulders in the vicinity of the historic

Mathews Brook zinc silver occurrence numbered 323 in the New Brunswick mineral database

approximately 1,000 metres to the north of No 334.

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Figure 1 Highway Aeromagnetics & Mineral Occurrences

SLAM’s wholly owned Highway project comprises 231 claim units covering 5125 hectares and

encompasses 11 mineral occurrences discovered by previous works in the 1970’s and 80’s.

Termination of Peninsula Project: SLAM and WhiteRock have mutually agreed to terminate the

Peninsula Agreement dated November 7, 2023 and previously announced on November 22, 2023.

Both parties have signed a letter whereby SLAM holds no right or interest in the project and has

no current or future obligations pertaining to the Peninsula Agreement. This allows SLAM to focus

on its wholly owned Menneval and Jake Lee gold projects as well as the Highway and Mine Road

critical element projects in New Brunswick.

About SLAM Exploration Ltd: SLAM holds a large portfolio of mineral claim holdings in 3

divisions; Gold, Critical & Strategic Elements and Base Metals. The flagship of the gold portfolio

is SLAM’s wholly owned Menneval gold project in northern New Brunswick. The Company has

also reported significant gold discoveries in southern New Brunswick on its Jake Lee and Highway

projects. The Highway project has demonstrated polymetallic potential with 10 known mineral

occurrences that include zinc, silver, copper, cobalt, molybdenum and tin as well as gold.

The Company recently added the Mine Road zinc silver project to its base metal portfolio in the

mineral rich Bathurst Mining Camp of New Brunswick. Previous workers drilled massive sulphide

zones including with 2 massive sulphide intervals in hole IL2014-003 with a 9 metre core interval

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grading 14.51% zinc, 5.86% lead, 0.67% copper and 139.9 g/t silver and a 3 metre interval grading

6.57% zinc, 2.78% lead, 0.46% copper, and 68.1 g/t silver.

The Ear Falls Lithium and Notre-Dame Niobium projects are recent additions to SLAM’s Critical

and Strategic Element portfolio. Beyond Lithium Inc. has announced discovery of lithium

pegmatites up to 4.54% lithium on its adjacent Ear Falls project.

The Company holds NSR royalties and expects additional cash and share payments on the Wedge,

Goodwin, and Ferguson base metal projects. SLAM also holds NSR royalties and may receive

addition cash and share payments 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.

QA-QC Procedures : The Company collected 14 grab samples from float and bedrock and

delivered them directly to Activation Laboratories Ltd. in Fredericton for 41 element ICP -OES

analysis. Samples that were over -limit for silver, lead and zinc were re -assayed using Actlabs

procedure 8AR.

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