Star Metro - SLAM Launches Airborne VTEM Survey - Geotech Flying Over Goodwin Copper Nickel Cobalt Project

MIRAMICHI, NB / ACCESS Newswire / January 23, 2026 / SLAM Exploration Ltd. (TSXV:SXL) ("SLAM" or the "Company") is pleased to report that it has commenced a VTEM™-Plus airborne electromagnetic survey over the Goodwin copper-nickel-cobalt project in the mineral rich province of New Brunswick. The Company expects the VTEM survey to help identify potential ovoid-type copper-nickel-cobalt deposits associated with deep-seated magmatic chambers, as well as potential extensions of the Farqharson, Granges, Logan and Bruce copper-nickel-cobalt zones. The Company has selected Geotech Ltd, a global leader in airborne geophysical technology, to complete an 852 kilometer survey at an estimated cost of $275,000.

THE VTEM Survey is a follow-up to Slam's 25 hole diamond drilling campaign completed in 2024 and 2025. The proposed survey outline is shown in Figure 1:

Figure 1: Proposed Goodwin VTEM Survey Area

Final assays have been received from the 2025 drilling campaign, following the 2024 campaign results previously reported. Highlights from the 2024 program included 15 holes, with results including a 64.90 meter core interval grading 2.19% Cu-Eq (copper-nickel-cobalt), including 3.84% copper equivalent ("Cu-Eq") over 31.20 meters in hole GW24-02, as reported in a news release dated August 7, 2024. Significant gold values were also reported, including up to 3.31 grams per tonne over 0.5m in hole GW24-01.

The 2025 results are summarized in the following table:

*The recovered Cu-Eq grades are based upon data from Daily Metal Price and are based upon an assumed recovery rate of 90%.

The Company completed 10 holes for a total of 2944 meters of diamond drilling in 2025. The coordinates and other collar data are summarized in the following table.

QA-QC Procedures: Core was collected from the drill in trays and delivered to a secure logging facility in Bathurst, New Brunswick. After logging, samples were sawn using a diamond blade. Sawn half-core samples were numbered, collected in bags, tagged and delivered to Activation Laboratories Ltd. ("Actlabs") in Fredericton. Actlabs completed multi-element analysis using assay method UT7. Samples returning over-limit results (greater than 1%) for the UT7 are re-analyzed using method 8-AR. Blanks and standards are included in each sample series.

Options Granted:
SLAM's board of directors has approved the grant of incentive stock options ("Options") to directors, officers, employees and consultants to acquire a total of 3,100,000 common shares in the capital of the Company at an exercise price of $0.08. The Options were granted pursuant to the Company's 10% rolling stock option plan (the "Plan") and are subject to the terms of the Plan and the requirements of the TSX Venture Exchange. The Options are exercisable for a three-year term and expire on January 23, 2029.

Jake Lee Project Update
Assays are pending on 700 soil samples collected from the vicinity of the No. 1 gold vein on SLAM's wholly-owned Jake Lee claims. Three channel samples from the No. 1 vein assayed 31.3 g/t gold, 12.3 g/t gold and 40.5 g/t gold along with 63.30 g/t silver, 23.2 g/t silver and 25.1 g/t silver respectively as reported by news release January 14, 2026.

The Jake Lee claims are located 25 kilometers southeast of the Clarence Stream gold deposit where Galway Metals Inc. Clarence Stream is host to a 12.4M tonne indicated resource of 922,000 ounces at a grade of 2.31 g/t gold plus an inferred resource of 16.1m tonnes with 1,334,000 ounces at a grade of 2.60 g/t gold. (Reference: "Updated Mineral Resource Statement, Clarence Stream Deposits, New Brunswick, Canada, by SLR Consulting (Canada) Ltd., March 31, 2022").

Historic Menneval Results
SLAM previously reported gold bearing core intervals from the Maisie vein, including 162.5 g/t gold over 0.2 m and 56.90 g/t gold over 0.5 m, in news releases dated December 13, 2021 and November 22, 2022. The Company also reported a core interval grading 3,955 g/t (127oz) gold over 0.1m from the No. 18 vein. The Menneval soil geochemical survey shows a number of gold anomalies over an area measuring approximately 3,000 meters by 2,500 meters.

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. This portfolio is built around the Goodwin Copper Nickel Cobalt project in the Bathurst Mining Camp ("BMC") of New Brunswick. The Company drilled 10 holes in the 2025 diamond drilling campaign on the Goodwin copper-nickel-cobalt project. This followed significant copper, nickel and cobalt intercepts from 15 diamond drill holes reported by the Company in 2024. These include a 64.90 meter core interval, grading 2.19% Cu-Eq (copper-nickel-cobalt), including 3.84% Cu-Eq over a 31.20 meter core interval from hole GW24-02 as reported in a news release August 7, 2024. Significant gold values were also reported with up to 3.31 grams per tonne over 0.5m in hole GW24-01.

The Company is a project generator and expects to receive significant cash and share payments in 2026. SLAM received 1,200,000 shares plus cash from Nine Mile Metals Inc. (NINE) in 2025 pursuant to the Wedge project agreement. Also in 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.Join our company newsletter by clicking SXL-News to receive timely company updates and press releases relating to SLAM Exploration.

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.

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

Jimmy Gravel, Vice-President
Contact 902-273-2387
[email protected]

SEDAR+: 00012459

Forward-Looking Statements
This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking statements are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances. Forward-looking statements are often, but not always, identified by words such as "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential," "may," "could," "would," "might," or "will," and similar expressions.

Forward-looking statements in this news release include, but are not limited to: statements regarding the exploration potential of the Harry Brook gold-antimony project; the significance of historical gold and antimony occurrences; the interpretation of geological, geochemical, and geophysical data; the identification and prioritization of exploration targets; the anticipated receipt and significance of pending assay results from the Jake Lee Project; the continuity and extent of mineralized structures at Jake Lee and Menneval; the timing and scope of future exploration programs; the Company's ability to advance its mineral projects; and the potential for future exploration success.

Forward-looking statements are based on reasonable assumptions made by the Company as of the date of this news release, including, without limitation: that historical exploration results, mineral occurrences, and publicly reported third-party mineral resources are relevant for regional and exploration context; that geological interpretations and targeting models are reasonable; that pending assay results will be received within anticipated timeframes; that planned exploration activities can be executed as expected; that contractors, equipment, personnel, and supplies will be available on acceptable terms; that commodity prices and market conditions will remain generally supportive; and that required permits, approvals, and access rights will be obtained in a timely manner.

Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. These risks and uncertainties include, without limitation: the speculative nature of mineral exploration; the risk that exploration results, including pending assay results, may not confirm historical data or current interpretations; uncertainty regarding the continuity, grade, and extent of mineralization; delays or changes to exploration programs; availability and cost of labour, equipment, and contractors; fluctuations in commodity prices; availability of financing on acceptable terms; regulatory, environmental, and permitting risks; operating hazards; and general economic, market, and business conditions. Additional risk factors are described in the Company's most recently filed Management's Discussion and Analysis and other continuous disclosure documents available under the Company's profile on SEDAR+.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: SLAM Exploration Ltd.

View the original press release on ACCESS Newswire

J.Hall--SMC