Star Metro - SLAM Reports New Gold Discovery: Up To 16.20 g/t Gold

MIRAMICHI, NB / ACCESS Newswire / August 28, 2025 / SLAM Exploration Ltd. (TSXV:SXL) ("SLAM" or the "Company") is pleased to report a second gold discovery on its wholly owned Jake Lee mineral claims, located in southwestern New Brunswick.

Four grab samples were collected from trench JT25-05, with assay results as follows:

This newly identified zone, referenced as JL No. 2, is situated approximately 100 meters south of the Company's initial discovery, now designated as JL No.1. Slam previously reported the JL No. 1 discovery in a July 9, 2025 news release, which detailed eight grab samples with assay values ranging from 7.42 grams per tonne ("g/t") to 94.80 g/t gold from a mineralized quartz vein exposed in Trench JT25-01.

Both gold-bearing zones are located roughly 2,000 meters east of the historic New River gold occurrence (No. 587 in the New Brunswick Mineral Occurrence Database, NBDNRE). While No. 587 was originally identified a placer gold occurrence in the 1960's, prospectors in 1998 discovered mineralized bedrock grab samples grading up to 5.35 g/t gold. All three occurrences, JL No.1, JL No. 2 and New River are aligned with a series of aeromagnetic anomalies extending 2,800 meters across the Jake Lee mineral claims (see Figure 1).

The Company intends to conduct additional trenching in September to further evaluate JL No. 1 and JL No. 2 zones. These areas represent the first of 34 gold targets identified across the Jake Lee and adjacent Love Lake claim group. Targets include:

• A historical quartz float occurrence grading 302.5 g/t gold;

• Soil geochemical anomalies with one sample at 10 g/t gold, 306 samples ranging 0.01-1.00 g/t and 3,570 samples ranging 0.002-0.010 g/t gold from a total of 7,316 samples;

• Stream sediment samples from previous work returning 0.20-3.58 g/t gold in 22 of 60 samples.

These results underscore the widespread presence of gold within the 13,000 hectare Jake Lee-Love Lake-Rogers Lake project area.

Figure 1: Aeromagnetics - Gold Occurrences - New Gold Discoveries

Cautionary Statement: Grab and float samples are selective by nature and may not be representative of the overall mineralization on the property.

QA-QC Procedures: Four grab samples were collected from exposed bedrock in trench JT25-01 and delivered directly to Activation Laboratories Ltd. in Fredericton, New Brunswick for analysis. All samples were processed using Procedure 1A2 (fire assay with atomic absorption finish). Samples exceeding the detection limit were re-analyzed using Procedure 1A3 (fire assay with gravimetric finish).

Figure 1 is derived from SLAM's internal technical files and illustrates both SLAM's results and historical data from previous operators.

Historical data is sourced from public disclosures, including news releases filed on SEDAR+ and Reports of Work published on the New Brunswick Department of Natural Resources and Energy Development (NBDNRE) website. SLAM's exploration data referenced herein has also been disclosed in prior news releases available on SEDAR+ and at www.slamexploration.com.

Exploration Update - Goodwin IP Survey

The Company recently conducted Induced Polarization ("IP") geophysical surveys over the Granges, Farquharson and Logan zones on its wholly owned Goodwin copper- nickel-cobalt claims, located within the Bathurst Mining Camp ("BMC") of New Brunswick. The surveys identified IP chargeability anomalies along three lines in the vicinity of the Granges, Farquharson and Logan sones, suggesting potential extensions of mineralization at depth.

The Company has requested proposals from drilling contractors for a 4,000 meter drill program on this road-accessible project. The program is designed to expand the Granges and Farquharson copper-nickel-cobalt zones along strike and at depth.

About SLAM Exploration Ltd: SLAM Exploration Ltd. is a publicly listed resource company with a 40,000-hectare portfolio of mineral claim holdings in the mineral-rich province of New Brunswick. As reported above, the Company has made two new gold discoveries on its Jake Lee project and plans to resume its successful prospecting-trenching program on the Jake Lee, Love lake and Rogers Lake claims in the fall.

SLAM drilled 2 holes and cut multiple gold-bearing veins were on its wholly owned Menneval gold project in 2024. The Company previously reported gold bearing core intervals including 162.5 g/t gold over 0.2 m and 56.90 g/t gold over 0.5 m in news releases on December 13, 2021 and November 22, 2022. The Company is currently expanding the soil coverage with 1,000 additional samples to expand the target on this extensive vein system.

The Company is a project generator and expects to receive significant cash and share payments in 2025. SLAM received $9,000 cash and 1,200,000 shares from Nine Mile Metals Inc. (NINE) on February 28, 2025 pursuant to the Wedge project agreement. On March 29, 2025, the Company received a cash payment of $60,000 as well as 180,000 shares of a private company pursuant to the Ramsay gold agreement. The Company holds NSR royalties and expects to receive additional cash and share payments on the Wedge copper zinc project and on the Ramsay gold project.

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" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding: the results and interpretation of exploration activities, including trenching, sampling and drilling; expectations regarding assay results from pending samples; the timing and scope of future exploration programs; the potential for new discoveries on the Jake Lee, Roger Lake, Love Lake Menneval and Goodwin projects; the significance of gold and base metal values obtained from grab, float and drill samples; the planned IP surveys and potential drill programs on the Goodwin property; the receipt of future cash and share payments under existing option or royalty agreements; and the potential future value of SLAM's NSR royalty interests.

Forward-looking information is based on assumptions that may prove to be incorrect, including assumptions regarding: the reliability of historical and current exploration data; that mineralization encountered in grab samples and drill core is indicative of potential economic quantities; that planned exploration activities will be completed as scheduled; that the Company will continue to have access to capital and to skilled personnel; and that partner companies will meet their obligations under property agreements.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied in such information. These risks include, but are not limited to: the inherent risks of mineral exploration and development; fluctuations in commodity prices; risks related to title, permits and access; environmental risks; operating risks; delays in obtaining or failure to obtain required approvals; and risks related to joint venture and option counterparties failing to meet obligations.

Readers are cautioned not to place undue reliance on forward-looking information. SLAM disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

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

V.Watson--SMC