Mr. Mike Taylor reports

SLAM RAISES $2,072,750 FROM OVERSUBSCRIBED PRIVATE PLACEMENT

Slam Exploration Ltd. has closed the non-brokered private placement previously announced on Feb. 18, 2026, upsized on Feb. 20, 2026, and upsized again on closing to 23,030,553 units issued at a price of nine cents per unit for gross proceeds of up to $2,072,750.

The offering consisted of:

• 18,141,664 flow-through critical mineral exploration tax credit units of the company issued at a price of nine cents per FT CMETC unit; each FT CMETC unit is intended to be issued on the basis that the company will incur and renounce Canadian exploration expenses that are expected to qualify as flow-through mining expenditures that are critical mineral exploration expense eligible for purposes of the critical mineral exploration tax credit under the Income Tax Act (Canada);
• Three million flow-through units of the company issued at a price of nine cents per FT unit; each FT unit is intended to be issued in respect of Canadian exploration expenses expected to qualify as Canadian exploration expense under the Income Tax Act (Canada); and
• 1,888,889 non-flow-through units of the company issued at a price of nine cents per NFT unit.

Each FT CMETC unit and FT unit is composed of:

• One flow-through common share of the company issued as a flow-through share within the meaning of the Income Tax Act (Canada); and
• One-half of one common share purchase warrant, with two such half-warrants being exercisable together as one whole common share purchase warrant.

Each NFT unit is composed of:

• One common share of the company; and
• One warrant.

Each whole warrant will entitle the holder to purchase one additional common share at an exercise price of 13 cents per common share for a period of two years following the closing date of the offering, subject to acceleration in certain events.

The gross proceeds received by the company from the issuance of the FT CMETC units will be used to incur eligible Canadian exploration expenses that are expected to qualify as flow-through critical mineral mining expenditures (as defined in the Income Tax Act (Canada)) and are intended to be spent on the company's Goodwin project. Such expenditures are expected to qualify as critical mineral exploration expense for purposes of the 30-per-cent critical mineral exploration tax credit available under applicable law to eligible subscribers.

The gross proceeds received by the company from the issuance of the FT units will be used to incur eligible CEE on the company's gold projects and are not expected to qualify as flow-through critical mineral mining expenditures or for the critical mineral exploration tax credit.

The company will renounce qualifying CEE to subscribers of FT CMETC units and FT units with an effective date no later than Dec. 31, 2026 (or such other date as may be permitted under applicable tax legislation).

The proceeds received by the company from the issuance of the NFT units, and any proceeds received on the exercise of warrants, will be used for general working capital purposes, corporate development activities and other business objectives as determined by management.

The offering is subject to the final approval 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 expiring on July 12, 2026, in accordance with Canadian securities laws.

The company has issued 420,000 finders' warrants and paid $37,800 in cash in connection with the offering. Each whole finder warrant will entitle the holder to purchase one additional common share at an exercise price of 13 cents per common share for a period of two years following the closing date of the offering, subject to acceleration in certain events.

Proceeds received from the FT units will be used to finance exploration on Slam's gold, zinc, copper and nickel projects in New Brunswick, Canada.

Insider participation: One company insider participated in the offering, paying $199,999.87 for 2,222,222 FT CMETC units. The participation by such insider 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).

About Slam Exploration Ltd.

Slam Exploration is a publicly listed resource company with a 40,000-hectare portfolio of mineral claim holdings in the mineral-rich province of New Brunswick. This portfolio is built around the Goodwin copper-nickel-cobalt project in the Bathurst mining camp of New Brunswick. The company drilled 10 holes in the 2025 diamond drilling campaign on the Goodwin copper-nickel-cobalt project. This followed significant copper, nickel and cobalt intercepts from 15 diamond drill holes reported by the company in 2024. These include a 64.90-metre core interval, grading 2.19 per cent copper equivalent (copper-nickel-cobalt), including 3.84 per cent CuEq over a 31.20-metre core interval from hole GW24-02 as reported in a news release dated Aug. 7, 2024. Significant gold values were also reported with up to 3.31 grams per tonne over 0.5 m in hole GW24-01.

The company discovered a new gold vein at Jake Lee in 2025 and recently reported up to 40.5 grams per tonne gold and 63.30 g/t silver from channel samples cut from the vein. A 200-metre-by-400-metre soil anomaly with gold grading up to 0.98 g/t gold lies adjacent to the east and north of the new gold vein. The Jake Lee claims are located 25 kilometres southeast of the Clarence Stream gold deposit. Clarence Stream is host to a 12.4-million-tonne indicated resource of 922,000 ounces at a grade of 2.31 g/t gold plus an inferred resource of 16.1 million tonnes with 1,334,000 ounces at a grade of 2.60 g/t gold (reference: "Updated Mineral Resource Statement, Clarence Stream Deposits, New Brunswick, Canada, by SLR Consulting (Canada) Ltd., March 31, 2022").

The company reported an expansion of the soil coverage on the Menneval gold project on Jan. 7, 2026. A gold soil anomaly extends approximately 3,000 metres by 2,500 metres with gold-bearing samples ranging from 0.005 gram per tonne to 0.683 g/t gold. The results indicate potential extensions to a swarm of quartz veins previously discovered by Slam. The company previously reported core intervals include 3,955 g/t gold over 0.1 m from the No. 18 vein (Dec. 3, 2020), as well as 162.5 g/t gold over 0.2 m (Dec. 13, 2021) and 56.90 g/t gold over 0.5 m (Nov. 22, 2022) from the Maisie vein.

The company is a project generator, and expects to receive significant cash and share payments in 2026. Slam received 1.2 million shares plus cash from Nine Mile Metals Inc. in 2025 pursuant to the Wedge project agreement. Also, in 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 statement

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

We seek Safe Harbor.