Slam Closes Second and Final Tranche of Private Placement and Raises $ 211,000
TSXV: SXL
SLAM CLOSES SECOND AND FINAL TRANCHE OF
PRIVATE PLACEMENT AND RAISES $ 211,000
Not for Distribution to U.S. Newswire Services or for Dissemination in the United States
For Release, October 10, 2025
Miramichi, New Brunswick ‐ SLAM Exploration Ltd. (TSXV: SXL) (“SLAM” or the “ Company”)
is pleased to announce that is has raised gross proceeds of $ 211,000 from closing the second and final
tranche of the previously announced non-brokered private place ment (the “Offering ”) through the
issuance of 527,500 units (“Units”) issued at a price of $0.40 per Unit.
Under both tranches of the Offering, the Company raised aggregate proceeds of $ 900,000 through the
issuance of an aggregate of 2,302,750 Units.
Each Unit consisted of:
• four (4) flow-through common shares (the “FT Shares”);
• one (1) non-flow-through common share (the “NFT Share”); and
• two and one-half (2.5) transferable non-flow-through common share purchase warrants (with two
half-warrants comprising one whole warrant, each a “Warrant”).
Each whole Warrant will entitle the holder to acquire one additional common share of the Company at a
price of $0.12 for a period of 24 months from issuance. The Company may accelerate the expiry of the
Warrants if, at any time prior to their expiry, the volume -weighted average trading price of the common
shares on the TSX Venture Exchange (the “TSXV”) is at least $0.20 for 30 consecutive trading days. In
that event, the Warrants will expire 20 days after the Company issues a press release announcing the
acceleration.
The gross proceeds from the sale of the FT Shares will be used to incur Canadian Exploration Expenses
(“CEE”) on the Company’s New Brunswick properties. These expenditures are expected to qualify as
“flow-through critical mineral mining expenditures” under the Income Tax Act (Canada) and to be
renounced to subscribers with an effective date no later than December 31, 2025 (or such other date as
permitted by law). Subscribers are expected to be entitled to claim the 30% Critical Mineral Exploration
Tax Credit in respect of such expenditures.
The proceeds from the NFT Shares and any Warrants exercised will be used for general corporate
purposes, including working capital and corporate development activities.
The Offering is subject to the final acceptance of the TSXV and all other required regulatory approvals.
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All securities issued under the Offering will be subject to a statutory hold period of four months and one
day from the closing date that expires on February 11, 2026.
The Company did not pay any finder’s fees on the second tranche of the Offering.
Insider Participation: one insider of the Company participated in the second and final tranche of the
Offering and acquired an aggregate of 112,500 Units. The participation by such insider in the Offering
constitutes a “related-party transaction” within the meaning of Multilateral Instrument 61-101 - Protection
of Minority Security Holders in Special Transactions (“MI 61 -101”). The Company relied on the
exemptions from the formal valuation and minority shareholder approval requirements under sections
5.5(a) and 5.7(1)(a) of MI 61- 101, respectively, on the basis that neither the fair market value of the
securities issued to insiders, nor the consideration paid by such insiders, exceeded 25% of the Company’s
market capitalization.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in
the United States. The securities referenced herein have not been and will not be registered under the
United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any
state, and may not be offered or sold within the United States or to, or for the account or benefit of, “U.S.
Persons” (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S.
Securities Act and applicable state securities laws or pursuant to an available exemption.
About SLAM Exploration Ltd: SLAM Exploration Ltd. is a publicly listed resource company with a
40,000-hectare portfolio of mineral claim holdings in the mineral- rich province of New Brunswick.
Diamond drilling is in progress on the Goodwin copper -nickel-cobalt project in the Bathurst Mining
Camp (“BMC”) of New Brunswick. The drilling program follows significant copper, nickel and cobalt
intercepts from 15 diamond drill holes reported by the Company in 2024 on the Goodwin project These
include a 64.90 meter core interval grading 0.73% copper, 0.64% nickel and 0.05 % cobalt including
1.11% copper, 0.95% nickel and 0.07% cobalt over a 39.40 meter core interval as reported in a news
release August 7, 2024. Induced Polarization (“IP”) results for 3 lines over the Granges, Logan and
Farquharson copper-nickel-cobalt zones show potential for depth extensions as reported July 18, August 7
and August 21, 2025 in News Releases by the Company.
Prior to the Goodwin drilling campaign, t he Company launched its 2025 exploration program with two
new gold discoveries on its wholly-owned Jake Lee claims. Slam reported eight grab samples with assays
ranging from 7.42 grams per tonne (“g/t”) to 94.80 g/t gold in the initial discovery on July 9, 2025. A
second discovery comprised quartz float grading 16.20 and 3.78 g/t gold respectively in Trench JT25- 05
located 100 meters southwest of the initial discovery as reported August 28, 2025.
SLAM drilled 2 holes and cut multiple gold- bearing veins on its wholly owned Menneval gold project in
2024. The Company previously 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. Assays
are pending on 874 additional soil samples to expand the soil coverage and further define the target on
this extensive vein system.
The Company is a project generator and has received significant cash and share payments in 2025. SLAM
received $9,000 cash and 1,200,000 shares from Nine Mile Metals Inc. (NINE) on February 28, 2025
pursuant to the Wedge project agreement. On March 29, 2025, the Company received a cash payment of
$60,000 as well as 180,000 shares of a private company pursuant to the Ramsay gold agreement. The
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Company holds NSR royalties and expects to receive 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 -Presentation. 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.
CONTACT INFORMATION:
Mike Taylor, President & CEO
Contact: 506-623-8960
Jimmy Gravel, Vice-President
Contact 902-273-2387
SEDAR+: 00012459
Forward-Looking Statements
This news release contains “forward -looking statements” within the meaning of applicable Canadian securities
laws. Forward -looking statements are not historical facts but instead represent management’s expectations,
estimates and projections regarding future events or circumstances. Forward- looking statements are often, but not
always, identified by words such as “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,”
“projects,” “potential,” “may,” “could,” “would,” “might,” or “will,” and similar expressions.
Forward-looking statements in this news release include, but are not limited to: the completion of the Offering and
any other tranches thereof , the proposed use of proceeds, the expected tax treatment of the FT Shares, the timing of
renunciation of CEE, and the receipt of final acceptance of the Offering by the TSX Venture Exchange. Forward-
looking statements are based on reasonable assumptions made by the Company at the date of this release, but
involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or
achievements to differ materially from those expressed or implied by such statements.
Such risks and uncertainties include, without limitation: that the Offering may not be completed on the terms
announced or at all; that the TSX Venture Exchange may not approve the Offering; that the proceeds may not be
used as disclosed; the availability of financing on acceptable terms; general economic, market and business
conditions; uninsured risks; regulatory changes; delays or inability to obtain required approvals; and other risk
factors described in the Company’s most recently filed Management’s Discussion and Analysis and in other filings
with Canadian securities regulators.
Readers are cautioned not to place undue reliance on forward- looking statements. The Company does not undertake
to update or revise any forward- looking statements, whether as a result of new information, future events or
otherwise, except as required by applicable securities laws.