SLAM Exploration Ltd. announced it has entered into an arm?s length option agreement dated September 01, 2023, to acquire a 100% interest in and to the Mine Road project, which is located adjacent to the former producing Heath Steele mine in the Bathurst Mining Camp (?BMC?) of northern New Brunswick. Previously drilled holes include IL2014-003 that cored 14.51% zinc, 5.86% lead, 0.67% copper and 139.9 g/t silver over a 9.0 metre interval (7.8 metre true width). This hole also intersected 6.57% zinc, 2.78% lead, 0.46% copper, and 68.1 g/t silver over a 3 m core interval (2.6 metre true width).

This was one of 5 holes drilled on the Railroad Zone in 2014. On the Roche Trend, 5 kilometres southwest of the Railroad Zone, diamond drill hole IL2018-01 intersected 7.0 meters of 0.9% copper. This is the deepest intercept on the Roche Trend and according to accepted models for VMS deposits, the increasing copper content may signify that the core of the deposit lies below this hole.

Mine Road Project: The 7,500 hectare Mine Road project comprises 347 units in 2 mineral claims adjacent to the former producing Heath Steele mine property. From 1957 and 1996, the operator mined 21 million tonnes at Heath Steele with an average grade of 4.98% zinc, 0.36% lead, 0.54% copper and 69.66 g/t silver. A total of 2,330 million pounds of zinc, 833 million pounds of lead, 446 million pounds of copper and 45 million ounces of silver were processed.

(For reference, these numbers are derived from: McCutcheon, S.R. (compiler) 1997; Geology and massive sulphides of the Bathurst Camp, New Brunswick; Geological Association of Canada - Mineralogical Association of Canada, Joint Annual Meeting, Ottawa ?97, Field Trip B7, Guidebook, 85 p.). Volcanogenic Massive Sulphide Occurrences: The Mine Road project contains 7 volcanogenic massive sulphide occurrences including the Railroad Zone described above. The Company expects to generate additional targets once the Mine Road project database is integrated with SLAM?s extensive Bathurst Joint Venture database.

A total of $1,448,000 in exploration expenditures have been applied to the Mine Road project during the past 10 years and assessment work credits of $428,776 are available for future claim renewals. Infrastructure:The Mine Road project is located on the Mine Road (Route 430) which connects the former Heath Steele mine to the city of Miramichi which is 60 kilometres to the southeast. The claims are accessed from this paved road and a series of logging roads.

Electric power is available from lines that connect Heath Steele to the New Brunswick power grid. The Mine Road project is subject to a 2% NSR royalty. SLAM retains the right to buy back half the royalty equal to 1.0% NSR for $1,000,000 and the further right to buy back the remaining royalty equal to 1.0% NSR for $1,000,000 at any time.

The option agreement and proposed share issuances remain subject to approval by the TSX Venture Exchange. All security issuances will be subject to a statutory hold period of 4 months and one day from issuance in accordance with Canadian securities laws. No finders?

fees were paid on this arm?s length agreement.