SLAM MENNEVAL GOLD PROJECT SAMPLES GRADE UP TO 363 G/T GOLD Assays Confirm Reports of Visible Gold In New Vein Discoveries
TSXV: SXL
SLAM MENNEVAL GOLD PROJECT SAMPLES GRADE UP TO
363 G/T GOLD
Assays Confirm Reports of Visible Gold In New Vein Discoveries
For Immediate Release, October 07, 2020
Miramichi, New Brunswick ‐ SLAM Exploration Ltd. (“SLAM” or the “ Company” on TSXV: SXL ) is
pleased to announce assay results on grab samples from trenching on its wholly owned Menneval Gold
project in northwestern New Brunswick. Two samples grading 53.8 g/t and 363.0 f/t confirm the report
of visible gold reported from two of the veins in SLAM news release August 25, 2020.
The results include 3 samples grading 53.80 g/t gold, 59.30 g/t gold and 363.00 g/t gold collected from 3
separate veins and 10 samples rang ing from 1.20 g/t gold to 5.86 g/t gold in 7 separate veins . In
addition, 21 samples range from 0.12 to 0.79 g/t gold and 5 samples range from 0.02 to 0.05 g/t gold. In
summary, all 39 samples collected from the newly discovered veins contain gold ranging from 0.02 to
363.00 g/t gold.
Nine of the veins occur as a series of en echelon veins along a structure extending 140 m southwest of
Zone 9. The veins rang e up to 50 m long and 1 m thick and are mineralized with limonite and locally
pyrite. These new veins are an extension and combine with the original Zone 9 veins for an overall strike
length of 300 m. Zone 9 is located 500 m south of the Maisie zone and was discovered in 2012. A
separate vein occurs an additional 230 m along the same trend to the southwest. Samples 34108, 34112
and 34118 grading 363.00 g/t, 5.86 g/t and 2.93 g/t respectively were collected from this vein.
The Company has resumed the trenching program to further test these 10 newly discovered gold veins
as well as the original Zone 9 veins, some of which remain open along strike. The 10 veins combine with
the Zone 9 veins for an overall strike le ngth of 500m. Results are pending from 282 soil samples that
may assist the Company in the search for potential new veins and extensions . Following this trenching
program, the Company expects a potential resumption of diamond drilling activities to test th ese new
gold occurrences.
Of the 39 samples collected, 29 samples occur in the range 0.02 to 0.99 g/t gold and 13 samples contain
gold in the range 1.00 to 363.00 g/t gold. The results for these 13 samples are listed in the table below:
Assay Tag Trench Field Sample # UTM_E UTM_N Gold ppm
34108 Men20-2 MEN20-2-12 629033 5296485 363.000
34112 Men20-2 MEN20-2-1 629301 5296727 5.860
34118 Men20-2 MEN20-2-6 629232 5296663 2.930
34131 Men20-7 WP190 629255 5296768 59.300
2
34132 Men20-4 WP191 629221 5296671 53.800
34134 MEN20-13 MEN20-13-1 629391 5296815 3.990
34135 MEN20-3 MEN20-3-1 629203 5296648 1.880
34136 MEN20-3 MEN20-3-2 629198 5296651 1.195
34141 MEN20-6 MEN20-6-1 629246 5296677 1.655
34143 MEN20-7 MEN20-7-1 629267 5296706 5.190
34144 MEN20-7 MEN20-7-2 629229 5296766 4.110
34146 MEN20-8 MEN20-8-2 629276 5296710 2.210
34149 MEN20-9 MEN20-9-2 629296 5296733 1.440
The exploration program is supported in part by a $30,000 contribution to the Menneval gold project
under the New Brunswick Junior Mining Assistance Program.
The Menneval Project: Based on the new gold discovery, the Company staked 118 additional claim units
covering an additional 2530 hectares at Menneval. The expanded Menneval Gold project is now
comprised of 480 claim units covering 10,460 hectares located in northwestern New Brunswick . The
Company holds a 100% interest i n the Menneval claims. Four (4) claim units covering 105 hectares are
subject to a 1.5% NSR. The Co mpany 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 company with a portfolio of precious metal and base metal
properties in New Brunswick and Ontario. The Company owns the Menneval Gold project and the Lewis
Brook silver project in northern New Brunswick , as well as 5 gold projects located in the vicinity of
Clarence Stream where Galway Gold Inc. has reported successful gold drilling results in southern New
Brunswick. SLAM also owns the Reserve Creek, Opikeigen and Miminiska gold projects in Ontario . The
Company owns a portfolio of base metal properties in the Bathurst Mining Camp (“BMC”) that is subject
to an option agreement . SLAM also holds NSR royalties on the Superjack, Nash Creek and Coulee zinc‐
lead‐copper‐silver properties in the BMC. 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 - Sampling Procedures
The veins were uncovered using an excavator to allow collection of grab samples of vein material from
bedrock. The samples were tagged and shipped to ALS Geochemistry in Moncton New Brunswick for
gold analysis using Au-A23, a fire assa y with AAS finish. S amples over 10 g/t w ere re-analysed by fire
assay with gravimetric finish.
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 predi ct. Actual results might differ materiall y from results suggested in any forward-
3
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 i n 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 r esponsibility 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