SLAM DIAMOND DRILL CORE ASSAYS UP TO 56.9 G/T GOLD Gold Bearing Core Intervals In Nine Of Eleven Diamond Drill Holes
TSXV: SXL
SLAM DIAMOND DRILL CORE ASSAYS UP TO 56.9
G/T GOLD
Gold Bearing Core Intervals In Nine Of Eleven Diamond Drill Holes
For Immediate Release, November 22, 2022
Miramichi, New Brunswick ‐ SLAM Exploration Ltd. (“SLAM” or the “Company” on TSXV: SXL)
is pleased to report core intervals ranging up to gold 56.9 g/t gold over 0.5 metres from the 646 m
diamond drilling program completed on its wholly -owned Menneval gold project located in New
Brunswick, Canada. Selected gold assays and drill core intervals are summarized in the table below:
Zone Hole_ID From_m
Core
Interval_m Gold_g/t
No 18 Vein BG22-29 22.50 0.30 4.29
No 18 Vein BG22-30 19.85 0.30 3.94
No 18 Vein BG22-30 27.20 0.50 56.90
No 18 Vein BG22-31 21.50 0.50 5.81
No 18 Vein BG22-31 28.00 0.70 1.43
No 18 Vein BG22-31 29.60 1.00 1.32
No 18 Vein BG22-32 44.30 1.00 0.09
Maisie Vein MG22-74 30.50 0.75 4.96
Maisie Vein MG22-74 31.25 1.00 2.07
Maisie Vein MG22-74 34.70 1.00 1.96
Maisie Vein MG22-74 35.70 1.30 0.77
Maisie Vein MG22-76 30.28 0.83 1.75
Maisie Vein MG22-77 32.30 0.60 7.09
Maisie Vein MG22-78 27.35 0.95 1.90
Maisie Vein MG22-79 25.00 0.55 0.50
Maisie Vein MG22-79 25.55 1.00 0.29
Gold-bearing core intervals ranging from 0.09 g/t to 56.90 g/t gold occur in 4 of the 5 diamond drill holes
drilled on vein No 18. These holes were drilled in the vicinity of previously drilled intervals with grades
ranging up to 162.5 g/t gold (grams/tonne gold) over 0.20 m and 56.50 g/t gold over 0.51 m as reported
by the Company on December 03, 2020 and January 20, 2021. The gold bearing intervals are core lengths
in metres and may not represent the true width of these intervals.
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Gold-bearing intervals ranging from 0.29 g/t over 1.00 m to 7.09 g/t gold over 0.60 m occur in 5 of the 6
diamond drill holes drilled on the Maisie vein. These 6 holes were designed to test the potential extension
of the Maisie vein on the east side of an off -setting fault. The Company is evaluating these significant
drilling results for a potential a follow-up program.
Jake Lee Gold Project : SLAM is mobili zing a crew to prospect in the vicinity of two recently
discovered quartz boulders grading 39.3 g/t gold and 1.49 g/t gold as well as the Cranford -Taylor vein
that were reported by news release Nov ember 17, 2022. Other priority targets are located on the Roger
Lake claim where one soil sample grading 16.20 g/t gold was detected in a 2021 soil survey by previous
workers. In addition, 121 soil samples show elevated gold levels ranging from 0.01 g/t to 0.17 g/t gold.
The survey comprises 1904 samples and covers a 5,000 by 1,000 metre grid area. The historic Lepreau
River placer gold occurrence is located 400 m east of this grid. T he Roger Lake claim was recently
acquired in an option agreement dated November 2, 2022. Visit the website www.slamexploration.com to
view recent maps and photographs. For more information, call Mike Taylor 506-623-8960.
$30,000 NBJMAP Grant: The Menneval drilling program is supported in part by a grant of $30,000
under the New Brunswick Junior Mining Assistance Program (“NBJMAP”). The Company wishes to
thank the Province for its continued recognition of the Menneval project and its importance to the
emerging gold industry in New Brunswick.
The Menneval Project: The Menneval gold project is comprised of 351 mineral claim units covering
7589 hectares located in northwestern New Brunswick. The Company holds a 100% interest in these
claims with the exception of 4 claim units covering 105 hectares that are subject to a 1.5% NSR. The
Company can buy down 0.5% of the NSR for $500,000 and it has the right of first refusal on the
remaining 1% NSR.
About SLAM Exploration Ltd:
SLAM is a project -generating resource co mpany with base and precious metal properties in New
Brunswick and Ontario, Canada. In addition to its Menneval and Jake Lee gold projects, the Company
owns a portfolio of base metal properties in the Bathurst Mining Camp (“BMC”) of New Brunswick.
SLAM is actively exploring the Jake Lee, Mount Victor and Little Mount Pleasant gold properties in
southwestern New Brunswick where Galway 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 and Ramsay Brook gold properties and on the Superjack, Nash Creek and Coulee zinc‐lead‐
copper‐silver properties in the BMC. The C ompany holds NSR 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. 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 : Drill core was picked up at the core at the drill site and delivered to a secure
facility for logging by SLAM’s professional team. Selected core was marked for sawing and sampling .
The company inserted blanks and standards at regular intervals into the sample series. The samples were
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sent to AGAT Laboratories (“AGAT”) for gold analysis under AGAT analytical code 202- 051. One
sample above 10 g/t gold was re-analyzed using gravimetric methods.
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 re sults 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 h erein. 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