Star Metro - SLAM IP Survey Expands Target Beneath Farquharson Copper-Nickel-Cobalt Zone At Goodwin

MIRAMICHI, NB / ACCESS Newswire / August 21, 2025 / SLAM Exploration Ltd. ("SLAM" or the "Company") (TSXV-SXL) is pleased to announce results for Line L3300E, the third line of an induced polarization ("IP") survey conducted over the Granges, Farquharson and Logan copper-nickel-cobalt zones on its wholly owned Goodwin claims in the mineral-rich Bathurst Mining Camp of New Brunswick. The IP survey suggests potential for extensions of all three zones at depth.

The Company has requested proposals from several drilling contractors for a 4,000 meter drilling program on this road-accessible project. The primary objective is to expand the Granges and Farquharson copper-nickel-cobalt zones along strike and at depth. SLAM previously reported a 64.90-meter core interval grading a 1.61% copper equivalent ("CuEq")* from 23.60 to 88.50 meters in hole GW24-02, drilled on the Granges Zone.

SLAM CEO Mike Taylor stated, "Our IP and drilling results demonstrate that the Goodwin copper-nickel-cobalt project has the potential to contribute meaningfully to Canada's critical elements portfolio in the mineral-rich province of New Brunswick. Copper, nickel and cobalt are key metals in Canada's economic strategy for critical elements, and we expect Goodwin to play a significant role." The Management Committee adds "With the outstanding IP targets identified on the latest maps and those previously published, the Board looks forward to the drilling campaign".

Line L3300E crosses the Farquharson zone and passes directly over hole GW24-03, located at 1760N on this line. The Company intends to test the Farquharson Zone, where prior drilling returned a 60.60-metre interval grading 0.90% CuEq from 72.90 to 133.50 metres in hole GW24-03.The planned drilling program aims to identify potential higher grade mineral zones and depth extensions of the Granges and Farquharson Zones. The Company is also planning additional IP surveys to extend the target area.

The CuEq grades disclosed herein were calculated using an 85% recovery rate, based on assays previously reported in Company news releases dated August 7, 2024 (hole GW24-02) and August 12, 2024 (GW24-03).

Drill Results

Chargeabilities of up to the 995 mV/V define deep targets on Line L3300E below the Farquharson zone. These chargeability anomalies are associated with resistivity lows at depth and to the north (north is to the right on Figure 1). Figure 1 also shows the Farquharson zone core intercepts for diamond drill hole GW24-03 and GW24-04, both of which are located on L3300E.

Figure 1 - Goodwin IP Line 3300E: Chargeability, Resistivity and Inversion Models

About Jake Lee Gold: As previously reported in the Company's news release dated July 9, 2025, eight grab samples collected from a bedrock vein in Trench JT25-01 returned gold assay values ranging from 7.42 grams per tonne ("g/t") to 94.80 g/t. Assays are pending on additional samples collected from the same area.

About SLAM Exploration Ltd: SLAM Exploration Ltd. is a publicly traded resource company with a 40,000-hectare portfolio of mineral claim holdings in the mineral-rich province of New Brunswick. The Company commenced its 2025 exploration season with a new bedrock gold discovery on its Jake Lee Gold Project, reporting four samples grading between 18.50 g/t and 75.90 g/t gold (see news release dated May 20, 2025), followed by eight samples ranging from 7.42 g/t to 94.80 g/t ( see news release dated July 9, 2025).

The Company intends to resume its 2025 exploration program on the Goodwin copper-nickel-cobalt project as soon as the fire season ends and the roads open. The Company plans additional IP and diamond drilling to test three mineral zones where SLAM completed 15 diamond drill holes in 2024. The 2024 program included drill hole GW24-02 on the Granges Zone with a 64.90-meter core interval grading 1.61% CuEq, from 23.60 meters to 88.50 meters (CuEq calculated using an 85% recovery rate based on assay results disclosed in the Company's news release dated August 7, 2024).

SLAM operates as a project generator and expects to receive significant cash and share consideration in 2025. Notably, on February 28, 2025 Slam received $9,000 in cash and 1,200,000 shares of Nine Mile Metals Inc. (CSE:NINE) pursuant to the Wedge project agreement. On March 29, 2025, the Company also received a cash payment of $60,000 and 180,000 shares of a private company pursuant to the Ramsay gold agreement. The Company retains net smelter return (NSR) royalties on both projects and expects additional cash and share payments.

To view SLAM's corporate presentation, click SXL-Presentation. Additional information is available on SLAM's website and on SEDAR+ at www.sedarplus.ca. Follow us on X @SLAMGold.

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.

Forward-Looking Information:

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws. All statements in this release, other than statements of historical fact, are forward-looking statements and include, but are not limited to, statements regarding: the Company's planned exploration activities; the anticipated results and interpretation of IP surveys, including pending results from Line L3300E; the receipt and timing of assay results; the potential for additional mineralized zones or depth extensions; planned exploration activities, including further geophysical surveys and drilling programs; the Company's expectations regarding future payments under option or royalty agreements; and the potential for future drilling programs.

Forward-looking statements are based on the beliefs, assumptions, and expectations of management as of the date of this release and involve a number of known and unknown risks, uncertainties, and other factors. These risks and uncertainties may cause actual results, performance, or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. These factors include, among others, risks related to exploration and development; the interpretation of exploration results; delays or failures in obtaining assay results; commodity prices; market conditions; regulatory approvals; availability of financing; and other risks detailed from time to time in the Company's filings with Canadian securities regulators.

Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof.

Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additional information identifying risks and uncertainties is available in the Company's filings with Canadian securities regulators, which 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]

Jimmy Gravel, Vice-President
Contact: 902-273-2387
[email protected]
SEDAR+: 00012459E

SOURCE: SLAM Exploration Ltd.

View the original press release on ACCESS Newswire

O.Gauthier--SMC