Slam Closes Shares FOR Debt Settlement
TSXV: SXL
SLAM CLOSES SHARES FOR DEBT SETTLEMENT
Not for Distribution to U.S. Newswire Services or for Dissemination in the United States
For Immediate Release January 17, 2025
Miramichi, New Brunswick ‐ SLAM Exploration Ltd. (TSXV: SXL) (“SLAM” or the “ Company”)
announces that further to its news release dated January 9, 2025, it has received final approval from the
TSX Venture Exchange and has now settled an aggregate of $300,000 in debt (the “ Debt Settlement”)
with one non- arm’s length creditor to the Company, through the issuance of an aggregate of 6,000,000
common shares in the capital of the Company at an agreed price of $0.05 per share.
All securities issued pursuant to the Debt Settlement are subject to a statutory four -month and one day
hold period in accordance with Canadian Securities Law and the policies of the TSX Venture Exchange.
MI 61-101 Disclosure
One Insider of the Company has participated 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.
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 recently 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.
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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, 5.86% 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 former producing Heath Steele B Zone.
The Company is a project generator and received significant cash and 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 -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.
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