Mr. Mike Taylor reports

SLAM COMPLETES PRIVATE PLACEMENT

Slam Exploration Ltd. has raised $235,000 by placement of 2.2 million units at a price of five cents per unit and 2.5 million flow-through units at a price of five cents per flow-through unit in the private placement announced on Jan. 24, 2016, and amendments announced on Feb. 25, 2016, and March 1, 2016. Each unit comprises one common share in the capital of the company and one-half of one warrant. Each flow-through unit comprises one common share in the capital of the company issued on a flow-through basis and one-half of one warrant. Each whole warrant entitles the holder thereof to acquire one common share at a price of six cents for a period of 24 months, expiring on March 21, 2018. The units are subject to a four-month-and-one-day hold period expiring on July 22, 2016.

Michael Taylor and Eugene Beukman, directors of the company, subscribed, either directly and/or indirectly, for an aggregate 1.6 million flow-through units and 1.4 million units, constituting related party transactions pursuant to the TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101, protection of minority security holders in special transactions. The company relied on Section 5.5(a) of MI 61-101 for exemptions from the formal valuation requirement and Section 5.7(1)(a) of MI 61-101 for exemptions from the minority shareholder approval requirement of MI 61-101 as the fair market value of the transactions did not exceed 25 per cent of the company's market capitalization.

The company received approval of the private placement from the TSX Venture Exchange.

Proceeds received from the units will be used for general corporate purposes. Proceeds received from the flow-through units will be used to finance exploration on the company's gold projects in New Brunswick. The main focus is the Menneval gold project where Slam has been granted a permit to extract and process a 2,000-tonne bulk sample from the high-grade Maisie gold vein.

We seek Safe Harbor.