Stockwatch

Slam Exploration Ltd (3)
Symbol	SXL
Shares Issued	67,963,762
Close 2023-11-03	C$ 0.035
Market Cap	C$ 2,378,732
Recent Sedar+ Documents

Slam Exploration closes Ear Falls acquisition

2023-11-07 15:10 ET - News Release

Subject: SLAM Exploration Ltd. - News Release for Dissemination PDF Document File: Attachment SLAM_NR_2023-11-07-Ear_Falls_Acquisition.pdf N bmh AQ TSXV: SXL SLAM CLOSES NEW LITHIUM PROJECT ROAD ACCESSIBLE LITHIUM CLAIMS IN NORTHWESTERN ONTARIO For Immediate Release, November 7, 2023 Miramichi, New Brunswick - SLAM Exploration Ltd. (TSXV-SXL) announces that further to the news release dated October 12, 2023, it has closed the option agreement dated October 11, 2023, to acquire a 100% interest in the Ear Falls lithium project, located in the vicinity of a new lithium discovery by Beyond Lithium Inc. (BY on CSE) near Ear Falls in northwestern Ontario. Project Highlights: dot New Lithium Discoveries: The project comprises 230 claim units covering 4,700 hectares in 2 claim groups respectively located 10 kilometres (km) northeast and 12 km south of a new 1,000 metre long spodumene bearing pegmatite zone with grab samples up to 4.54% Li2O reported by Beyond Lithium on their Ear Falls Project. 2 dot Mineral Trend: Beyond Lithium also reports "Favorable geology and a highly fractionated sample located 2 km northeast of the new discovery spodumene zone." This suggests a trend toward SLAM's northeast claims shown on map. Beyond Lithium reported on October 23rd that it was launching a trenching and drilling program to test this lithium discovery. dot Regional Lithium Play: The Ear Falls lithium project is underlain by volcano-sedimentary and intrusive rocks transected by a splay of the Lake St. Joseph Fault, a regional structure that cuts through the Root Bay area where Green Technology Metals (ASX-GT1) is drilling to expand a JORC compliant resource on the Root Bay and McCombe deposits. Pioneer Lithium (ASX-PLN) recently announced a new pegmatite discovery on its adjacent Root Bay claims. dot Infrastructure: Both claim groups are accessible through a network of logging roads and secondary roads off Highway 105 that connects the mining town of Red Lake to the Trans- Canada highway. The Optionors: The Ear Falls Lithium Agreement was signed by Perry English and Gravel Ridge Resources Ltd., jointly, the Optionors along with the CEO of SLAM. SLAM President Mike Taylor states, "The new lithium discovery of 4.54% Li2O by Beyond Lithium is very significant. The geological setting is similar to Root Bay where Green Technology Metals recently announced drilling to expand its lithium deposits. SLAM wishes to thank the Optionors for this opportunity and is planning an exploration program at Ear Falls. The Company intends to continue its aggressive pursuit of new exploration opportunities especially in the critical element space." The Agreement: SLAM has made the first share issuance due pursuant to the Option Agreement and it has issued 300,000 common shares to the Optionor at a deemed price of $0.05 per share. The securities have a four month and one day hold period which will be expire on March 7, 2024, pursuant to Canadian securities laws. SLAM can earn a 100% interest in and to the Ear Falls Lake lithium project by making the following cash payments and common share issuances over a period of three (3) years: Due Date Common Share Payments Cash Payment (CAD) Upon signing the Agreement - $14,000 Within 7 business days of approval by the 300,000 $14,000 TSXV Exchange $21,000 - $30,000 On or before the 1st anniversary - On or before the 2nd anniversary - On or before the 3rd anniversary 3 Total 300,000 $79,000 Upon SLAM earning 100% interest, the Optionors are to hold a 1.5% Net Smelter Return (NSR) Production royalty. SLAM retains the right to buy back one-third of the royalty equal to 0.5% NSR for a one-time payment of CAD $600,000 at any time. Upon such purchase and payment being made, the Optionors will retain a Production Royalty equal to 1.0% of NSR. SLAM has obtained conditional approval from the TSX Venture Exchange. All security issuances will be subject to a statutory hold period of 4 months and one day from issuance in accordance with Canadian securities laws. No finders' fees were paid on this arm's length agreement. About SLAM Exploration Ltd: SLAM is a resource company with a large portfolio of mineral claim holdings in 3 divisions; Critical Elements, Gold and Base Metals. The Ear Falls lithium project and the Notre Dame niobium projects are significant additions to SLAM's critical element portfolio. SLAM has built its gold portfolio through exploration for gold along regional fault structures has resulted in significant gold discoveries including the Maisie gold vein system at SLAM's wholly owned Menneval project and a number of recent gold discoveries in southern New Brunswick on its Shadow Lake, Jake Lee, Rogers Lake and Highway projects. The Company recently added the Mine Road zinc, lead, silver project to its base metal portfolio in the mineral rich Bathurst Mining Camp of New Brunswick. The Company holds NSR royalties and expects additional cash and share payments on the Wedge, Goodwin, and Ferguson base metal projects. SLAM also holds NSR royalties and may receive addition cash and share payments on the Ramsay, Reserve Creek and Opikeigen gold projects. To view SLAM's corporate presentation, click SXL-Presentation. Additional information is available on SLAMs website SLAM and SEDAR+ filings at www.sedarplus.ca. Follow us on twitter @SLAMGold. QA-QC Procedures: The prospecting results described above are from recent news releases reported by other companies. 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. Certain information in this press release may constitute forward-looking information, including statements regarding mineral resources and the Company's plans with respect to the exploration and development of its properties. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable 4 to the Company. There are a number of risk factors that could cause future results to differ materially from those described herein. Information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings 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 mike@slamexploration.com Eugene Beukman, CFO SEDAR+: 00012459 Contact: 604-687-2038 ebeukman@pendergroup.ca