Slam Receives Share Payment
Slam Receives Share Payment
TSXV: SXL
Sells Mining Equipment For
1.1M
Shares
MIRAMICHI, NB
,
March 20, 2018
/CNW/ -
SLAM Exploration Ltd. (TSXV: SXL)
("
SLAM
" or the "
Company
") is pleased to announce it
has received 1,100,000 shares of Great Atlantic Resources Corp. (TSXV: GR) in return for a turnkey portable gold mining plant. As announced
by Great Atlantic on
February 28, 2018
, the shares were issued at a deemed price of
nine cents
per share in lieu of the cash amount of
$99,000
in
consideration of the purchase.
About Great Atlantic Resources Corp:
Great Atlantic Resources is a Canadian exploration company focused on the discovery and
development of mineral assets in the resource-rich and sovereign risk-free realm of
Atlantic Canada
, one of the No. 1 mining regions of the world.
Great Atlantic is currently surging forward building the company utilizing a project generation model, with a special focus on the most critical
elements on the planet that are prominent in
Atlantic Canada
: antimony, tungsten and gold.
SLAM Exploration Ltd.
also reports a revision to a news release issued by SLAM on
January 30, 2018
regarding acquisition of a new cobalt
claim adjacent to SLAM's Portage VMS property. In the 3
rd
paragraph, it was incorrectly stated that the Company "can purchase the royalty at
any time for
$2,000,000
". This should have stated "the Company can purchase the royalty at any time for
$1,000,000
".
About SLAM Exploration Ltd:
SLAM is a project-generating resource company holding an NSR royalty on the Superjack,
Nash Creek
and Coulee zinc-lead-copper-silver
properties and owning a portfolio of base metal and cobalt properties in the Bathurst Mining Camp ("BMC") of New Brunswick. The Company
continues to utilize its extensive BMC mineral database to explore and develop properties in this historic region of mineral potential. Other projects
include the Menneval gold project and the Reserve Creek and Miminiska gold projects in Ontario. 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
.
Qualifying Statements:
Mike Taylor
, P.Geo. President and CEO of SLAM Exploration Ltd., as the Qualified Person, approves the scientific
and technical disclosure in the 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.
SOURCE
SLAM Exploration Ltd.
View original content: http://www.newswire.ca/en/releases/archive/March2018/20/c7710.html
%SEDAR: 00012459E
For further information:
Mike Taylor, President & CEO, Contact: 506-623-8960, [email protected]; Eugene Beukman, CFO,
Contact: 604-687-2038, [email protected]
CO: SLAM Exploration Ltd.
CNW 08:40e 20-MAR-18