Mr. Mike Taylor reports

SLAM DRILLING 40.5 G/T GOLD VEIN ON THE JAKE LEE GOLD PROJECT

Slam Exploration Ltd. has launched its 2026 diamond drilling campaign and drilling is in progress on the Jake Lee gold project. The primary gold target is the No. 1 vein, where Slam reported high grade assays up to 40.5 grams per tonne gold and 63.3 g/t silver from channel samples. The Jake Lee project is located 25 kilometres southeast of the Clarence Stream gold deposit operated by Galway Metals Inc. in New Brunswick, Canada.

Slam is currently drilling beneath the No. 1 vein where Slam reported channel samples grading up to 40.5 g/t gold and 63.30 g/t silver in a news release dated Jan. 14, 2026. The drill is set up on hole JL26-01 collared 12 metres south of the vein and drilling at an angle of 45 degrees toward the vein. The company expects to intersect the target at a depth of 16 metres. The hole is designed to test the No. 1 gold vein 12 metres beneath the vein.

The company is also using an excavator to trench gold soil anomalies ranging up to 0.466 g/t gold associated with airborne conductors and aeromagnetic anomalies up to 800 metres northeast of the No. 1 gold vein. Targets include a 200-metre-by-400-metre area of anomalous soils located to the northeast, as reported March 2, 2026. The company has uncovered mineralized quartz veins and vein networks and has submitted 25 samples to the lab for gold assays.

The Jake Lee claims are located 25 kilometres southeast of the Clarence Stream gold deposit, where Galway Metals' Clarence Stream deposit 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").

Diamond drilling contract

The company has signed a contract for 7,000 metres of diamond drilling and expects to drill up to 500 metres on the No. 1 vein at Jake Lee before moving the drill to the Goodwin copper-nickel-cobalt project. The company may also do some drilling on other projects in the portfolio, including the Moose Lake antimony project and the Menneval gold project.

Quality assurance/quality control procedures: The assay results discussed above were previously reported by the company in news releases as specified. Reference is also made to airborne surveys by previous workers as documented in NBDNRE assessment reports.

Moose Brook property

Further to Slam's news release dated April 7, 2026, the company has received final approval from the TSX Venture Exchange and is proceeding with the issuance of 100,000 common shares of Slam, representing the initial share issuance required pursuant to the property option agreement dated March 30, 2026, among the company and Delbert Johnston, Tony Johnston, Milton Stewart and Aaron McBreairty (collectively, the optionors). The securities issued pursuant to the option agreement will be subject to a hold period of four months and one day in accordance with applicable Canadian securities laws.

To acquire a 100-per-cent interest in and to the Moose Brook property, Slam must, over a period of three years, pay the optionors an aggregate of $80,000 and issue to the optionors a total of 600,000 common shares in accordance with the following schedule.

Upon Slam earning 100-per-cent interest, the optionor will retain a 2-per-cent net smelter return (NSR) royalty on the property. Slam shall have the right to buy back one-half of the royalty equal to a 1.0-per-cent NSR royalty for $1-million at any time and the right of first refusal on the remaining NSR royalty.

Warrant extension cancelled

Further to Slam's announcement on April 7, 2026, the company will not be proceeding with the warrant extension.

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 (BMC) 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 0.73 per cent copper, 0.64 per cent nickel and 0.05 per cent cobalt for 2.19 per cent copper equivalent (CuEq), including 1.32 per cent copper, 1.11 per cent nickel and 0.09 per cent cobalt for 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.

Slam 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 g/t 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 NSR royalties and expects to receive additional cash and share payments on the Wedge copper-zinc project and 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.