Mr. Mike Taylor reports

SLAM RAISES $350,000 IN FLOW-THROUGH PRIVATE PLACEMENT, RESIGNATION OF A DIRECTOR AND APPOINTMENT OF A NEW DIRECTOR AND APPOINTMENT OF VICE PRESIDENT

Slam Exploration Ltd. has closed its non-brokered flow-through private placement announced May 21, 2025, and May 26, 2025. In connection with the private placement, the company has issued 10 million flow-through (FT) units at a price of 3.5 cents per FT unit for gross proceeds of $350,000. Each FT unit will comprise one common share of the company issued on a flow-through basis and one-half common share purchase warrant issued on a non-flow-through basis. Each warrant will entitle the holder thereof to acquire one non-flow-through common share at a price of five cents for a period of 24 months from the date of closing.

The FT units are subject to a four-month-and-one-day hold period that expires on Oct. 13, 2025.

The net proceeds of the offering will be used for the exploration and advancement of the company's projects in New Brunswick. The gross proceeds of the FT shares sold under the offering will be used for Canadian exploration expenses (within the meaning of the Income Tax Act (Canada)), which qualify as a flow-through mining expenditure for purposes of the Income Tax Act (Canada), related to the exploration program of the company to be conducted on the company's properties located in the province of New Brunswick.

Insider participation

Four company insiders participated in the private placement and subscribed for a total of 3,792,858 FT units. The participation by such insiders is a related-party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. 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 per cent of the company's market capitalization (as determined under MI 61-101).

Director resignation for Johannes van der Linde and appointment of Jacques Turcotte as a director

On June 12, 2025, the board of directors of the company appointed Mr. Turcotte as a director of the company to replace Mr. van der Linde.

Mr. Turcotte is a highly accomplished professional with a diverse background. He studied civil engineering at the University of Sherbrooke, IT (information technology) management at UQAM and financial planning at UQTR.

Over his 35-year career, Mr. Turcotte has gained extensive experience in business and real estate management, construction (residential, commercial and multiunit), and housing project development. His work has contributed to several major projects in Mauricie.

In addition to his real estate expertise, Mr. Turcotte has over 15 years of experience as an investor and business development advisor for Canadian mining exploration companies. Despite being offered various opportunities to join boards of directors, Mr. Turcotte has joined the board of Slam Exploration, marking his first involvement with a publicly traded company. He expressed great enthusiasm for the company, citing its promising projects as a key reason for his significant investment in Slam Exploration.

Appointment of Jimmy Gravel as vice-president of the company

On June 12, 2025, Mr. Gravel, a director of the company, has agreed to act as vice-president, where he will also serve as chair of the audit committee.

Slam president Mike Taylor commented: "I am thrilled to welcome Jacques Turcotte as a director and very pleased to announce the appointment of Jimmy Gravel as vice-president. These additions to the Slam team put us in position to maximize the value of our outstanding projects and advance to the next level. Welcome aboard Jacques and Jimmy! I would also like to thank Johannes van der Linde for his service as a director of Slam these past several years."

About Slam Exploration Ltd.

Slam Exploration is a public resource company with a 40,000-hectare portfolio of mineral claim holdings in the mineral-rich province of New Brunswick. The 2025 exploration campaign is in progress on Slam's contiguous Jake Lee, Roger Lake and Love Lake projects. As reported May 20, 2025, the company has made a new gold discovery with grab samples grading 18.50 grams per tonne (g/t) to 75.90 g/t gold.

Slam drilled two 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 metre (m) and 56.90 g/t gold over 0.5 m in news releases on Dec. 13, 2021, and Nov. 22, 2022.

The company reported significant copper, nickel and cobalt intercepts from 15 diamond drill holes in 2024 on the Goodwin copper-nickel-cobalt project in the Bathurst mining camp (BMC) of New Brunswick. These include a 64.90 m core interval grading 2.19 per cent copper equivalent, including 3.84 per cent copper equivalent on a 31.2 m core interval, only 24 m from surface, reported in a news release Aug. 7, 2024. The company expects to resume exploration activities at Goodwin in the near future.

The company is a project generator and expects to receive significant cash and share payments in 2025. Slam received $9,000 cash and 1.2 million shares from Nine Mile Metals Inc. on Feb. 28, 2025, pursuant to the Wedge project agreement. On March 29, 2025, the company received a cash payment of $60,000, as well as 171,429 shares of a private company pursuant to the Ramsay gold agreement. The company holds NSR (net smelter return) royalties and expects additional cash and share payments on the Wedge copper zinc project and on the Ramsay gold project.

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