Mr. Mike Taylor reports

SLAM ANNOUNCES $1,000,000 PRIVATE PLACEMENT

Slam Exploration Ltd. has arranged a non-brokered private placement of up to 2.5 million units at a price of 40 cents per unit for gross proceeds of up to $1-million.

Each unit will consist of:

• Four flow-through common shares;
• One non-flow-through common share; and
• 2.5 transferable non-flow-through common share purchase warrants.

Each whole warrant will entitle the holder to acquire one additional common share of the company at a price of 12 cents for a period of 24 months following issuance. The company may accelerate the expiry of the warrants if, at any time prior to their expiry, the volume-weighted average trading price of the common shares on the TSX Venture Exchange is at least 20 cents for 30 consecutive trading days. In that event, the warrants will expire 20 days after the company issues a press release announcing the acceleration.

The gross proceeds from the sale of the FT shares will be used to incur Canadian exploration expenses on the company's New Brunswick properties. These expenditures are expected to qualify as flow-through critical mineral mining expenditures under the Income Tax Act (Canada) and to be renounced to subscribers with an effective date no later than Dec. 31, 2025 (or such other date as permitted by law). Subscribers are expected to be entitled to claim the 30-per-cent critical mineral exploration tax credit in respect of such expenditures.

The proceeds from the NFT shares and any warrants exercised will be used for general corporate purposes, including working capital and corporate development activities.

The offering is subject to the acceptance of the TSX Venture Exchange and all other required regulatory approvals. All securities issued under the offering will be subject to a statutory hold period of four months and one day from the closing date. Finders' fees may be payable in connection with the offering.

Insiders of the company may participate in the offering. Any such participation would constitute a related-party transaction under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company expects that any insider participation will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the securities subscribed for will not exceed 25 per cent of the company's market capitalization.

About Slam Exploration Ltd.

Slam is a publicly listed resource company with a 40,000-hectare portfolio of mineral claim holdings in the mineral-rich province of New Brunswick. 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 of New Brunswick. These include a 64.90-metre core interval grading 0.73 per cent copper, 0.64 per cent nickel and 0.05 per cent cobalt, including 1.11 per cent copper, 0.95 per cent nickel and 0.07 per cent cobalt over a 39.40 metre core interval as reported in a news release dated Aug. 7, 2024. Induced polarization results for three lines over the Granges, Logan and Farquharson copper-nickel-cobalt zones show potential for depth extensions as reported on July 18, Aug. 7 and Aug. 21, 2025, in news releases by the company. Slam has mobilized a line-cutting crew in preparation for additional induced polarization surveys, and has negotiated a contract for a 4,000-metre diamond drilling program expected to begin immediately at Goodwin.

The company launched its 2025 exploration program with two new gold discoveries on its wholly owned Jake Lee claims. Slam reported eight grab samples with assays ranging from 7.42 grams per tonne to 94.80 g/t gold in the initial discovery on July 9, 2025. A second discovery comprised grab samples grading 16.20 and 3.78 g/t gold, respectively, in trench JT25-05 located 100 metres south of the initial discovery as reported Aug. 28, 2025. The company has mobilized its prospecting team and an excavator to expand trench JT25-05 and test the extent of the new gold discovery.

Slam drilled two holes and cut multiple gold-bearing veins 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 m and 56.90 g/t gold over 0.5 m in news releases on Dec. 13, 2021, and Nov. 22, 2022. The company is currently collecting 1,000 additional samples to expand the soil coverage and further define the target on this extensive vein system.

The company is a project generator and expects to receive significant cash and share payments in 2025. Slam received $9,000 in 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 180,000 shares of a private company pursuant to the Ramsay gold agreement. The company holds net smelter return royalties and expects to receive additional cash and share payments on the Wedge copper-zinc project and on the Ramsay gold project.

Qualifying statements

Mike Taylor, PGeo, president and chief executive officer of Slam, is a qualified person as defined by National Instrument 43-101, and has approved the contents of this news release.

We seek Safe Harbor.