SLAM DISCOVERY BOULDER GRADES 39.3 G/T GOLD Another G old Discovery In An Emerging Gold District
TSXV: SXL
SLAM DISCOVERY BOULDER GRADES 39.3 G/T
GOLD
Another G old Discovery In An Emerging Gold District
For Release 7:00 AM, ET, November 17, 2022
Miramichi, New Brunswick ‐ SLAM Exploration Ltd. (“SLAM” or the “Company” on TSXV: SXL)
is pleased to announce the discovery of a quartz boulder grading 39.3 grams/tonne (“g/t”) gold on its Jake
Lee gold project located 30 kilometres west of Saint John, New Brunswick. The gold- bearing boulder is
located 250 m south of a slab of road rubble that grades 1.49 g/t gold. The road rubble sample is
comprised of sedimentary rock with quartz veining near an outcrop of similar sedimentary rock.
These two grab samples of float grading 39.3 and 1.49 g/t gold respectively are located on a ridge 1,600
metres northwest of the Cranford- Taylor vein. All 13 grab samples collected from boulders associated
with the Cranford-Taylor vein contain anomalous levels of gold ranging from 0.004 g/t to 0.125 g/t gold.
These samples were collected during a recent prospecting expedition by SLAM’s advance scout team .
The Company is planning a follow-up expedition to further evaluate these new gold discoveries. Updated
maps and related information about the Jake Lee project is available at www.slamexploration.com .
The Company also intends to prospect an area on t he recently acquired Roger Lake claim where elevated
gold levels rang e up to 16,200 parts per billi on (“ppb”) gold in a soil geochemi cal survey by previous
workers. Targets include the site of one sample at 16,2 00 ppb gold and 121 sample sites ranging from 10
to 173 ppb gold that were detected in a soil geochemical survey of 1904 samples collected in 2021.
Another target is a historic placer gold site known as the Lepreau river gold occurre nce (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 Courie r - 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.” These gold targets are associated with volcano -sedimentary and intrusive rocks in the
vicinity of the Belleisle Bay fault zone.
The Jake L ee 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
Roger 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 at any time and the remaining half of the royalty for $2,000,000 at any time. For full details
2
view news release by SLAM Nov 2, 2022 . The Option Agreement to acquire the Roger Lake claims
remains subject to approval by the TSX Venture Exchange.
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 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 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 hold s NSR royalt ies 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 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 curren tly 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 detection 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 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]
3
Eugene Beukman, CFO
Contact: 604-687-2038 [email protected] SEDAR: 00012459E