Slam Closes First Tranche of Private Placement
SLAM CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT
Not for Distribution to U.S. Newswire Services or for Dissemination in the United States
FOR IMMEDIATE RELEASE MAY 4, 2017
Miramichi, New Brunswick - SLAM Exploration Ltd. (TSXV: SXL) (the “Company”) announces that
further to its news release dated April 13, 2017, the Company has closed the first tranche of the Private
Placement for 1,400,000 Units at a price of $0.05 per Unit and 2,020,000 FT Units at a price of $0.055
per FT Unit for gross proceeds of $181,100. Each Unit is comprised of one common share in the capital
of the Company and one Warrant. Note the terms of the FT Units have been amended. Each FT Unit is
priced at $0.055 (not $0.05) and is comprised of one common share in the capital of the Company issued
on a “flow-through” basis and one Warrant (not one-half of one Warrant) issued on a “non-flow-through”
basis. Each Warrant entitles the holder thereof to acquire one non-flow-through common share at a price
of $0.10 for a period of 24 months, expiring on May 4, 2019. The Units and FT Units are subject to a
four-month and one day hold period expiring on September 5, 2017.
The first tranche Private Placement is subject to final approval of the TSX Venture Exchange.
Michael Taylor and Eugene Beukman, Directors of the Company, subscribed, either directly and/or
indirectly, for an aggregate 200,000 FT Units and 400,000 Units, constituting related party transactions
pursuant to the TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61 -101 - Protection of
Minority Security Holders in Special Transactions ("M1 61-101"). The Company relied on Section 5.5(a)
of MI 61-101 for exemptions from the formal valuation requirement and Section 5.7(1)(a) of MI 61-101 for
exemptions from the minority shareholder approval requirement of MI 61-101 as the fair market value of
the transactions did not exceed 25% of the Company's market capitalization.
Proceeds received from the Units will be used for general corporate purposes. Proceeds received from
the FT Units will be used to fund exploration on SLAM's gold and base metal projects in New Brunswick.
The main focus is the Menneval gold project where SLAM intends to continue its program to extract and
process a 2,000 tonne bulk sample from the high grade Maisie gold vein. The Company also intends to
complete preliminary work that may include trenching and diamond drilling on its wholly owned Connector
and Lower 44 zinc-lead-silver properties.
About SLAM Exploration Ltd:
SLAM is a project generating Resource Company with a portfolio of gold, base metal and lithium projects
in the mineral-rich Province of New Brunswick where SLAM’s main focus is the wholly-owned Menneval
gold project. SLAM 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”). The
Company is utilizing its extensive BMC mineral database to explore and develop properties such as the
recently acquired Connector and Lower 44 projects in this historic mineral region. SLAM also owns the
Cumberland lithium project in southeastern New Brunswick as well as 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 Explorat ion 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.
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This information is based on current expectations that are subject to significant risks and unc ertainties
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 here in. 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.
CONTACT INFORMATION:
Mike Taylor, President & CEO
Contact: 506-623-8960 [email protected]
Eugene Beukman, CFO
Contact: 604-687-2038 [email protected]
SEDAR: 00012459E