SLAM DISCOVERS MORE GOLD New Gold Discoveries In Emerging Gold District
TSXV: SXL
SLAM DISCOVERS MORE GOLD
New Gold Discoveries In Emerging Gold District
For Release 7:00 AM, ET, January 25, 2023
Miramichi, New Brunswick ‐ SLAM Exploration Ltd. (“SLAM” or the “Company” on TSXV: SXL)
is pleased to announce two additional gold-bearing float respectively grading 3.390 g/t and 2.420 g/t gold
in the vicinity of a previously reported quartz boulder discovery grading 39.300 grams/tonne (“g/t”) gold
on its Jake Lee gold project located 30 kilometres west of Saint John, New Brunswick.
In summary, three boulders grading 39.300 g/t gold, 3.390 g/t gold and 2.420 g/t gold respectively occur
within a 10 m radius at a location 250 m south of an angular quartz float grading 1.49 g/t gold. Gold
ranging from 0.0100 to 0.661 g/t gold was detected in 31 samples from a total of 186 samples that were
submitted for assay. T hese samples were collected by SLAM’s advance sco ut team during prospecting
expeditions conducted in the fall of 2022. The Company has already obtained approval to further test
these gold discoveries with a trenching program as soon as weather permits. To see maps and related
information about the Jake Lee gold project click SLAM .
The Jake L ee Gold 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 R oger Lake claim is
subject to completion of cash and share payments over a 4- year period and a 2% NSR royalty. 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 ( SLAM news release Nov 2, 2022 ). The Lepreau river placer gold
occurrence (reference 563 - New Brunswick Mineral O ccurrence database) lies within the Roger Lake
claim. In addition, gold was detected in one soil sample containing 16 .200 g/t gold and 121 samples
ranging from 0.010 to 0.173 g/t gold by a soil geochemical survey of 1904 samples collected in 2021.
These gold targets are associated with volcano -sedimentary and intrusive rocks that straddle the Belleisle
Bay fault zone.
Goodwin Lake Option Agreement: The Company has signed an agreement grant ing QNB Metals Inc.
(“QNB”) the option to purchase 100% interest in SLAM’s wholly- owned Goodwin Lake project. SLAM
is to receive 500,000 shares of QNB upon signing and an additional 1,900,000 shares of QNB plus
$250,000 over a 4- year period. SLAM will reta in a 2% NSR royalty subject to buy- back of 1% NSR in
return for $1,000,000. For more information about QNB and the option agreement click QNB-CSE .
About SLAM Exploration Ltd:
SLAM is a project -generating resource company with base and precious metal properties in New
Brunswick and Ontario, Canada. In addition to its Menneval and Jake Lee g old projects, the Compan y
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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 Galway Metals is working on a multi -million ounce
gold deposit at Clarence stream. SLAM owns the Cumberland Bay rare earth element (REE) project in
central New Brunswick. The Company holds NSR royalt ies on the Ferguson Brook and Ramsay Brook
gold properties, the Goodwin copper nickel property 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 gold project in Ontario.
The Company continues to generate cash and collect securities from mineral property option agreements
with other companies . The Company raised proceeds of $76,500 in a December flow -through financing
and has sufficient funds for the work currently in progress. Additional information is available at SLAM
or from SEDAR filings at www.sedar.com. Follow us on twitter @SLAMGold.
QA-QC Procedures:
SLAM collected grab samples from boulders and outcrop during prospecting expedition s in October and
November, 2022. A total of 49 samples were submitted to AGAT Laboratories of Mississauga, Ontario
for gold analysis using Fire Assay with AAS finish. One sample above the 10 g/t detection limit was re -
assayed using a gravimetric method. In addition, 137 samples were submitted to ALS Chemex for sample
prep in Moncton, New Brunswick followed by gold analysis using fire assay with AAS finish (Au-
AA23).
Qualifying Statements: Mike Taylor P.Geo, President and CEO of SLAM Exploration Ltd., a qual ified
person as defined by National Instrument 43- 101, approves the technical information contained in this
news release.
Forward-Looking Information
This news release includes “forward -looking statements” and “forward -looking information” within the
meaning of Canadian securities legislation. All statements included in this news release, other than
statements of historical fact, are forward -looking statements. Forward- looking statements include
predictions, projections and forecasts and are often, but not always, identified by the use of words such as
"anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget" and "intend" and
statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and
other similar expressions and includes the negatives thereof.
Forward-looking information in this news release includes statements regarding: mineral resources and
the Company’s plans with respect to the exploration and development of its properties. Forw ard-looking
statements are based on a number of assumptions and estimates that, while considered reasonable by
management based on the business and markets in which SLAM operates, are inherently subject to
significant operational, economic, and competitive uncertainties, risks and contingencies. There can be
no assurance that such statements will prove to be accurate and actual results, and future events could
differ materially from those anticipated in such statements. Important factors that could cause ac tual
results to differ materially from the Company's expectations including; actual exploration results,
interpretation of metallurgical characteristics of the mineralization, changes in project parameters as
plans continue to be refined, future metal pric es, availability of capital and financing on acceptable
terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or
inability to receive required approvals, and other exploration or other risks detailed herein and from time
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to time in the filings made by the Company with securities regulators, including those described in the
Company’s most recently filed MD&A. Information identifying risks and uncertainties is contained in the
Company’s filings with the Canadian s ecurities regulators, which filings are available at
www.sedar.com. The Company does not undertake to update or revise any forward- looking statements,
except in accordance with applicable law.
CONTACT INFORMATION:
Mike Taylor, President & CEO
Contact: 506-623-8960 [email protected]
Eugene Beukman, CFO
Contact: 604-687-2038 [email protected] SEDAR: 00012459E