Mr. Mike Taylor reports

SLAM CLOSES PRIVATE PLACEMENT

Slam Exploration Ltd has closed a private placement of 6,055,000 units at a price of five cents per unit for gross proceeds of $302,750. Each unit comprises one common share in the capital of the Company and one common share purchase warrant (the "Warrant"). Each Warrant will entitle the holder thereof to acquire one common Share at a price of $0.08 for a period of 24 months from the date of issuance. The Units are subject to a statutory hold period of four months and one day which will expire on September 5, 2023.

In connection with the closing, the Company issued 298,000 Finder Warrants and paid $14,900.00 in cash as Finders' Fees. Proceeds received from the Units will be used for corporate purposes and to fund exploration on Slam's gold and critical element projects in Canada with the main focus on New Brunswick. For more information on Slam's activities and projects, click SXL-Presentation.

MI 61-101 Disclosure

One insider of the Company participated in the Private Placement for an aggregate total of 500,000 Units. The participation by such insiders is considered a "related-party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the placement as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the related parties, exceeded 25% of the Company's market capitalization (as determined under MI 61-101).

The Company did not file a material change report more than 21 days before the expected closing of the Private Placement as the details of the participation therein by related parties of the Company were not settled until shortly prior to closing of the Private Placement and the Company wished to close on an expedited basis for sound business reasons. The Private Placement remains subject to final acceptance from the TSX Venture Exchange.

About Slam Exploration Ltd.

The Company continues to generate cash and collect securities from other companies through mineral property option agreements. During the past 6 months, the Company has received a total of $529,250 from a combination of mineral property payments and private placements. The Company currently hold 2,760,949 common shares received pursuant to mineral property agreements.

Targeting critical elements as well as gold, the Company aggressively pursues new exploration opportunities such as the recently staked Highway project with known occurrences of cobalt, copper and silver as well as gold.

Slam's exploration team is prospecting and trenching on recent gold discoveries reported at Jake Lee. Both Highway and Jake Lee projects are located in southwestern New Brunswick where Galway Metals recently announced a 2.3-million-ounce gold deposit at Clarence stream. The Company plans further work at its drill-ready Menneval gold project in northern New Brunswick and intends to explore cobalt, nickel and copper geochemical anomalies on its Portage project in the Bathurst Mining Camp ("BMC"). The Company is evaluating the Cumberland Bay rare earth element (REE) project in central New Brunswick and the Keezhik gold project in Ontario.

The Company has sufficient funds for the work currently in progress.

We seek Safe Harbor.