Slam Closes Roger Lake GOLD Property
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TSXV: SXL
SLAM CLOSES ROGER LAKE GOLD PROPERTY
For Immediate Release, November 17, 2022
Miramichi, New Brunswick ‐ SLAM Exploration Ltd. (“ SLAM” or the “ Company” on TSXV: SXL ) is
pleased to announce that it has received approval from the TSX -V Venture Exchange with regards to the
option agreement dated November 2, 2022 (the “ Option Agreement ”) to acquire the Roger Lake
property located near Lepreau, New Brunswick (the “Property” or “Roger Lake”).
The Company has issued 100,000 common shares at a deemed price of $0.05 per share to satisfy the
first share issuance due under the Option Agreement. The securities have a statutory hold period of four
months and one day that will expire on March 18, 2023.
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.
Previous workers detected elevated gold levels rang ing up to 16, 200 parts per billion (“ppb”) gold in a
soil geochemical survey completed on the Roger Lake claim in 2021. In addition to one sample at 16,200
ppb, a total of 121 sample sites ranging from 10 to 173 ppb gold that were detected in survey
comprising 1904 samples. The elevated soil samples are in the vicinity of the Lepreau river gold
occurrence (reference 563 - New Brunswick Mineral Occurrence database). The following quotations are
copied from this reference: “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… ” and, in the St. Croix Courier - Jul. 13, 1899, Lepreau,
“Mr. Stafford has a fine piece of gold which was found on the Lepreau river and is about as fine a
specimen as has been seen in the province.”
The Roger Lake claim is adjacent to and will be managed as part of SLAMs wholly owned Jake Lee
project. The Company reported two grab samples of float grading 39.3 and 1.49 g/t gold respectively
1,600 m n orthwest of the Cranford -Taylor vein on the Jake Lee project as reported Nov 17, 2022 . The
Company is mobilizing a prospecting team around November 22, 2022 to further evaluate these new
gold discoveries
The Jake Lee Project: SLAM’s Jake lee gold project comprised of 6 claims covering 9,508 hectares spread
over a 20 km stretch of volcano -sedimentary rocks along the Wheaton Brook and St George fault zones.
Five of the 6 mineral claims are wholly owned by SLAM. The other one is the recentl y acquired R oger
Lake claim which is subject to completi on of cash and share payments over a 4 -year period and a 2%
NSR royalty retained by the optionor. The Company may purchase one half of the royalty for $1,000,000
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at any time and the remaining half of the royalty for $2,000,000 at any time. Updated maps and related
information about the Jake Lee project is available at www.slamexploration.com .
About SLAM Exploration Ltd:
SLAM is a project -generating resource company with base an d precious metal properties in New
Brunswick and Ontario, Canada. In addition to its Menneval and Jake Lee g old projects, the Company
owns a portfolio of base metal properties in the Bathurst Mining Camp (“BMC”) in northern New
Brunswick. SLAM is actively exploring the Jake Lee, Mount Victor and Little Mount Pleasant gold
properties in southwestern New Brunswick where Galw ay Metals is working on a multi- million ounce
gold deposit at Clarence stream. SLAM owns the Cumberland Bay and Benjamin River rare earth
element (REE) projects in central and northern New Brunswick. The Company holds NSR royalties 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. T he Company holds NS R 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:
SLAM collected grab samples from float (boulders and road rubble) during a prospecting expedition in
October. A total of 38 samples were submitted AGAT Labor atories of Mississauga, Ontario for gold
analysis using Fire Assay with AAS finish. One sample above the 10 g/t de tection limit was re -assayed
using a gravimetric method.
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 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. 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 w ith 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.
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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