SLAM Exploration Acquires N ew Niobium Critical Mineral P roject -For Release ASAP-
SLAM Exploration Acquires N ew Niobium Critical Mineral P roject
-For Release ASAP-
Miramichi - October 25, 2023 ‐ SLAM Exploration Ltd. (TSX-V: SXL) (“SLAM” or the “Company”)
is pleased to announce it has signed an arm’s length binding term sheet with St-Georges Eco-Mining Corp.
(CSE: SX) (“St-Georges”) to give SLAM the option to acquire a 51% interest in the Notre Dame Niobium
Critical Mineral Project (the “Notre Dame Project”). The Notre Dame Project is located 110 km northwest
of the only niobium producing mine in North-America: the Niobec niobium mine in Quebec.
Project Highlights:
• Niobium and Rare Earth Element (REE): St-Georges identified niobium and REE’s associated
with pegmatites and carbonatites.
• Niobium and REE’s: Grab samples range up to 2,320 ppm niobium (0.33% Nb2O5) with 3 ,901
ppm total REE including 1,726 ppm heavy REE and 2,175 ppm light REE.
• Four anomalous areas. Four target areas of anomalous niobium and rare earths have been
identified for follow-up.
• Aeromagnetic signature: The niobium and REE occurrences are all associated with a 10-
kilometre-long oval shaped aeromagnetic anomaly.
• Notre Dame Project: The project covers 6,404 hectares (64 km²) comprised of 116 mineral claims.
• Infrastructure: The project is accessible through a network of logging roads.
• Ready for Drilling Campaign: SLAM intends to complete additional prospecting and sampling
in preparation for a trenching and drilling program.
SLAM President Mike Taylor states: “The Notre Dame Project is an exciting acquisition for SLAM. Several
occurrences of niobium and REE’s are reported from pegmatites and carbonatites with a distinctive
aeromagnetic signature. This is a key acquisition as SLAM builds up niobium, rare earth and lithium assets
in the critical element space.”
2
Image 1: Notre Dame Project
About Niobium
Niobium is used as an alloy element in steels and superalloys. The ability to withstand high temperature
makes its usage common in aerospace applications. Niobium-tin and niobium -titanium are used to make
superconducting magnets. These magnets are critical components in magnetic resonance imaging (MRI)
machines. Niobium is a potential additive or alternative battery metal for use in electric vehicles and is used
to stabilize the cathode material in lithium-ion batteries. Demand for niobium is expected to increase along
with the growing EV battery industry. According to Metal.com Niobium Pentoxide is currently trading in
the US dollar range $48.76 to $50.15 per kilogram.
Image 2: Image 2: Niobium Oxide Minerals In Carbonatite At Notre Dame Project
3
Terms of the Agreement
The term Sheet gives SLAM the option to earn 51% in and to the Notre Dame Project by making the
following cash payments and share issuances to St -Georges, in addition to making qualified work
expenditures:
Issuance of 500,000 common shares of SLAM to St-Georges upon regulatory approval from the TSX-V.
Payment of $25,000 cash and issuance of 500,000 common shares of SLAM to St -Georges on or before
March 31st, 2024.
Payment of $25,000 cash and issuance of 1,000,000 common shares of SLAM to St -Georges on or before
the 1st anniversary date of a definitive option agreement.
Engage $300,000 in qualified exploration work before the 2nd anniversary of a definitive option agreement.
Upon completion of the above cash, share and work expenditures to earn a 51% interest in and to the Notre
Dame Project, the parties may elect to operate the project as a 51/49 joint venture (“JV”). Alternatively, St-
Georges has the option to grant SLAM the remaining 49% ownership interest in the Notre Dame Project
by issuing 1,000,000 common shares of SLAM to St-Georges.
If a JV is formed, the parties will jointly fund the project. If a party declines participation in a duly planned
work program, then the declining party’s interest will revert to a 2% Net Smelter Return (“NSR”) royalty.
If a party reverts to a 2% NSR holding, the other party will pay that party a NSR of 2%. The other party
will hold the right to buy back half of the NSR for $1,000,000.
In the event that SLAM purchases a 100% interest in and to the Notre Dame Project by making the 4th
payment referenced above, St-Georges will retain a NSR of 2%. SLAM will hold the right to buy back half
of the NSR for $1,000,000.
Finders’ fees of 300,000 common shares of SLAM will be paid to an arm’s length party. Completion of
the acquisi tion remains subject to entering into a definitive option agreement and the proposed share
issuances remain subject to approval by the TSX Venture Exchange. All security issuances will be subject
to a statutory hold period of 4 months and one day from issuance in accordance with Canadian securities
laws.
About SLAM Exploration Ltd:
The Notre Dame Project is a significant addition to SLAM’s critical element portfolio , including its 4700
hectare Ear Falls lithium project adjacent to Beyond Lithium ’s Ear Falls project in the Dryden area of
northwestern Ontario. Beyond Lithium has started trenching on a new discovery where they reported grab
samples up to 4.54% lithium less than 10 kilometres along strike from SLAM’s Ear Falls project.
SLAM also holds the Cumberland REE project as well as a large portfolio of gold projects in the mineral-
rich province of New Brunswick . Exploration for gold along regional fault structures has resulted in
significant gold discoveries . These include the Maisie gold v ein system at SLAM ’s wholly owned
Menneval project. In addition, SLAM has identified an area wit h high potential for gold discoveries in
southern New Brunswick where the Company acquired the Shadow Lake, Jake Lee, Rogers Lake and
Highway projects. These projects have potential for Rare Earth Element (REE) minerals as well as cobalt,
silver and base metals.
4
The Company holds NSR royalties and expects additional cash and share payments on the Wedge,
Goodwin, Ramsay and Ferguson projects in the mineral rich Bathurst Mining Camp of New Brunswick.
The Company holds NSR royalties and may receive addition cash and share payments on the Reserve Creek
and Opikeigen gold projects.
To view SLAM’s corporate presentation, click SXL-Presentation. Additional information is available on
SLAMs website SLAM and SEDAR+ filings at www.sedarplus.ca. Follow us on twitter @SLAMGold.
QA-QC Procedures: Grab samples were collected by consulting geologists through Magnor Exploration
that acted as St -Georges’ exploration contractor. The samples were collected primarily from outcropping
mineralization with occasional sampling from float boulders. The samples were sent directly to ALS
laboratory in Montreal, with additional assays carri ed out in their Vancouver complex. For QC
confirmation, ALS used a total of 89 blanks, standards and duplicates during assaying of the 218 samples
submitted. ALS used analytical method MS61 to test for a wide range of trace elements. A number of
elements including niobium were above the upper limit using this method. The samples were also analyzed
using MS81 to provide analysis with higher limits for the Rare Earth elements and niobium.
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 th at 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