Slam completes diamond drilling program

Several gold veins drilled. Visible gold reported.

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MIRAMICHI, New Brunswick, October 13, 2021 (GLOBE NEWSWIRE) – SLAM Exploration Ltd. (” CLICK “or the” Society on the TSX Venture Exchange: SXL ) is pleased to announce that it has completed a diamond drilling program on its wholly owned Menneval gold project located in the mineral rich province of New Brunswick, Canada. A total of 21 holes were drilled for a total program of 1222 m. The first 10 holes were declared on September 19, 2021. Since then, SLAM has drilled an additional 503m in 11 holes numbered BG21-19 to BG21-28.

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A total of 10 holes BG21-09-BG21-12 and holes BG21-23 to BG21-28 were drilled to test vein # 18 where the Company returned visible gold with assay results assaying up to ‘at 3,955 g / t gold over 0.10 m thick from trench samples as reported by the Company on December 03, 2020 . Hole BG21-19 tested part of the vein swarm associated with vein n ° 22. Holes BG21-20 to BG21-22 tested vein # 2. The 10 holes of vein # 18 intersected quartz veins with visible gold noted in 3 holes.

Logging and sampling are ongoing. To date, 231 sawn samples from holes BG21-09 to BG21-17 have been submitted to the laboratory. Core logging and sampling continues in holes BG21-18 to BB21-28. For more information and maps, visit Menneval Gold Project or call Mike Taylor at 506-623-8960.

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The Menneval Project: The Menneval Gold project is SLAM’s flagship project, the Company intends to focus on evaluating the extent and depth of the swarm of new gold veins discovered in 2020. The expanded property comprises 572 units of mining claims covering 12,390 hectares located in northwestern New Brunswick. . The Company holds a 100% interest in these claims with the exception of 4 claim units covering 105 hectares which are subject to an NSR of 1.5%. The Company can buy back 0.5% of the NSR for $ 500,000 and has the right of first refusal on the remaining 1% NSR.

About SLAM Exploration Ltd:

SLAM is a project-generating resource company focused on its flagship Menneval Gold project where the 2021 trenching program is underway. The Company intends to conduct preliminary exploration and geochemistry work on the Gold Brook, Birch Lake, Wilson Gold and Ramsay gold projects near the Puma Exploration Ltd. gold discovery. at Williams Brook on the Millstream Fault. SLAM also plans to conduct preliminary programs on the Jake Lee and Mount Victor gold properties and on the flanks of the Sawyer Brook and Wheaton Bay faults near Galway’s Clarence Creek gold deposit. SLAM owns the Reserve Creek, Opikeigen and Miminiska gold projects in Ontario and the Mount Uniacke gold project in Nova Scotia. The Company owns a portfolio of base metal properties in the Bathurst Mining Camp (“BMC”) which is subject to an option agreement. SLAM holds NSR royalties on the Superjack, Nash Creek and Coulee zinc-lead-copper-silver properties in BMC.

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The Company has generated liquidity through the sale of securities received under option agreements on mining properties with other companies and has sufficient funds for the work currently in progress. The Company has requested financial assistance of up to $ 100,000 under the New Brunswick Small Business Mining Assistance Program in support of a proposed drilling program in 2021. Additional information on SLAM and its projects are available at www.slamexploration.com or in documents filed on SEDAR at www.sedar.com. Follow us on twitter @SLAMGold.

NBJMAP grant of $ 20,000: The Menneval drilling program was funded in part by a grant of $ 20,000 under the New Brunswick Small Business Mining Assistance Program (“NBJMAP”). The Company wishes to thank the Province for this recognition of the Menneval project and its importance for the emerging gold industry in New Brunswick.

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QA-QC procedures: The core was picked up from the drilling site and delivered to a secure facility for logging by the professional SLAM team. Selected cores were marked for sampling and sawing. The company inserted blanks and standards into the sample set. A total of 231 samples were delivered to the ALS Geochemistry Laboratory in Moncton, New Brunswick for analysis. SLAM requested an analysis of the gold using the analytical code ALS Au-AA23.

Eligibility declarations: Mike Taylor P.Geo, President and Chief Executive Officer of SLAM Exploration Ltd., a Qualified Person as defined in National Instrument 43-101, approves the technical information contained in this press release.

Certain information contained in this press release may constitute forward-looking information, in particular statements
which concern the Private Placement, the closing of the Private Placement, future production, the reserve
potential exploration and development activities and events or developments that the Company expects.
This information is based on current expectations which are subject to significant risks and uncertainties.
which are difficult to predict. Actual results may differ materially from results suggested in any
statements. The Company assumes no obligation to update any forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until applicable securities laws. to the Company require it. There are a number of risk factors that could cause future results to differ materially from those described in this document. Information identifying the risks and uncertainties is contained in documents filed by the Company with Canadian securities regulators, which documents are available at www.sedar.com. Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of TSXV) accepts responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION:
Mike Taylor, President and CEO
Contact: 506-623-8960 [email protected]

Eugène Beukman, Chief Financial Officer
Contact: 604-687-2038 [email protected]

SEDAR: 00012459E

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