SLAM Announces $468,000 Private Placement

28 нояб. 2024 г.20:33 UTC

(TheNewswire)

November 28, 2024 – TheNewswire – Miramichi, New Brunswick ‐ SLAMExploration Ltd. (TSXV: SXL) (“SLAM” or the“Company”) announces a non-brokered privateplacement offering (the “Offering”) to raise up to $468,000 throughthe issuance of the following securities:

a. Up to 2,400,000non-flow-through units (the “NFT Units”) issued at a price of $0.045 perNFT Unit, for proceeds of up to $108,000. Each NFT Unit will consistof one (1) common share (each a “NFT Share”) of theCompany and one (1) transferable non-flow-through share purchasewarrant (each a “NFTWarrant”).

b. Up to 8,000,000 CMETC and CEEFlow-Through Units (the “FTUnits”) issued at aprice of $0.045 per FT Unit, for gross proceeds of up to $360,000.Each FT Unit will consist of one (1) FT Share and one half (1/2) ofone (1) transferable common share purchase warrant issued on a “non-flow-through” basis (two half common share purchase warrants are one whole NFTWarrant).

c. Each whole NFT Warrant will beexercisable to acquire one additional non-flow-through common share ofthe Company at a price of $0.05 for a period of 24 months followingthe date of issuance.

d. The gross proceeds receivedfrom the issuance of the NFT Units will be used for corporatepurposes.

e. The gross proceeds receivedfrom the issuance of the FT Units will be used for exploration activities on SLAM’s Goodwin copper-nickelcritical element project in New Brunswick.

The Offering is expected to close on or about December10, 2024, and is subject to the receipt of all necessary regulatoryand other approvals, including, but not limited to, acceptance of theTSX Venture Exchange. All securities issued pursuant to the Offeringwill be subject to a hold period of four months and one day from theclosing date in accordance with applicable securities laws.

The Company may pay finder fees on the Offering and itis anticipated that certain insiders will participate in the Offering.

This news release does not constitute an offer to sellor a solicitation of an offer to sell any of the securities in theUnited States. The securities have not been and will not beregistered under the United States Securities Act of 1933, as amended(the "U.S. Securities Act") or any state securities laws andmay not be offered or sold within the United States or to U.S. Personsunless registered under the U.S. Securities Act and applicable statesecurities laws or an exemption from such registration isavailable.

About SLAM ExplorationLtd: SLAM Exploration Ltd. is a public resourcecompany with a substantial portfolio of mineral claim holdings in themineral-rich province of New Brunswick. The Company recently completedthree diamond drill holes on the Goodwin copper-nickel project in theBMC of New Brunswick. Highlights include a 64.90-meter core intervalgrading 2.14% copper equivalent in hole GW24-02. The Company hasreported an additional 12 holes drilled in a follow-up programcurrently in progress at Goodwin. Assays are pending on holes GW24-04to GW24-15.

SLAM has discovered multiple gold veins on its whollyowned Menneval gold project. The Company has reported gold-bearingcore intervals, including 162.5 g/t gold over 0.2 meters and 56.90 g/tgold over 0.5 meters (news releases dated December 13, 2021, andNovember 22, 2022). Additionally, the Company reported quartz floatgrading up to 39.2 g/t gold on its Jake Lee project, located near theClarence Stream gold deposit, where GalwayMetals Inc. is working on a 2.3-million-ounce gold deposit in southernNew Brunswick.

SLAM also owns the Mine Road copper-zinc-silverproject, adjacent to the former producing Heath Steele Mines propertyin the BMC. Previous workers have reported successful diamond drillholes at Mine Road, including IL2014-003, which intersected a 9-metercore interval grading 14.51% zinc, 5.86% lead, 0.67% copper, and 139.9g/t silver in the volcanogenic massive sulphide Railroad Zone (Doe RunCanadian Exploration ULC; 2015, New Brunswick Assessment Files, Reportof Work 477877). The Railroad Zone is located 7,000 meters east of the20-million-tonne former producing Heath Steele B Zone.

Slam is a project generator and has receivedsignificant cash and share payments over the past year. The Companyholds NSR royalties and expects additional cash and share paymentsfrom the Wedge copper-zinc project and the Ramsay, Reserve Creek, andOpikeigen gold projects.

To view SLAM’s corporate presentation, clickSXL-Presentation. Additionalinformation is available on SLAM’s website andon SEDAR+ at www.sedarplus.ca. Followus on X @SLAMGold.

Qualifying Statements: Mike Taylor P.Geo, President and CEO of SLAM ExplorationLtd., is a qualified person as defined by National Instrument 43-101,and has approved the contents of this news release.

Certain information in this pressrelease may constitute forward-looking information, includingstatements regarding mineralresources and the Company’s plans with respect to the explorationand development of its properties. This information is based on current expectations that are subjectto significant risks and uncertainties that are difficult to predict. Actualresults might differ materially from results suggested in anyforward-looking statements.The Company assumes no obligation to update the forward-lookingstatements, or to update the reasons why actual results could differfrom those reflected in the forward looking-statements unless anduntil required by securities laws applicable to the Company. There area number of risk factors that could cause future results to differmaterially from those described herein. Information identifying risksand uncertainties is contained in the Company's filings with theCanadian securities regulators, which filings are availableatwww.sedarplus.ca.

Neither the TSXV nor its RegulationServices Provider (as that term is defined in the policies of theTSXV) accepts responsibility for the adequacy or accuracy of thisrelease.

CONTACT INFORMATION:

Mike Taylor, President & CEO

Contact: 506-623-8960 mike@slamexploration.com

Eugene Beukman, CFO

Contact: 604-687-2038 ebeukman@pendergroup.ca SEDAR+:00012459

Not forDistribution to U.S. Newswire Services or for Dissemination in theUnited States