SLAM Exploration Ltd. announce it has entered into an arm?s length option agreement dated October 11, 2023, to acquire a 100% interest in the Ear Falls lithium project, located in the vicinity of a new lithium discovery by Beyond Lithium Inc. (BY on CSE) near Ear Falls in northwestern Ontario. New Lithium Discoveries: The project comprises 230 claim units covering 4,700 hectares in 2 claim groups (?Northeast? and ?Southern?) respectively located 10 kilometres (km) northeast and 12 km south of a new 1,000 metre long spodumene bearing pegmatite zone with grab samples up to 4.54% Li2O reported by Beyond Lithium on their Ear Falls Project.

Northeast Claim Group: The northeast group comprises 50 claims covering 1018 hectares located 10 km along strike from new lithium discoveries by Beyond Lithium who recently reported. ?New spodumene bearing pegmatites zone discovered at the Ear Falls Project with grab samples up to 4.54% Li2O?. Mineral Trend: Beyond Lithium also reports ?Favorable geology and a highly fractionated sample located 2 km northeast of the new discovery spodumene zone??

This suggests a trend toward SLAM?s Northeast claims. This trend is supported by aeromagnetic signatures. Southern Claim group: The southern group comprises 180 claim units covering 3,678 hectares located 12 kilometres south of the new lithium discovery. The Southern claim group is underlain by sediments and granitic rocks that are prospective for pegmatites.

Regional Lithium Play: The Ear Falls lithium project is underlain by volcano-sedimentary and intrusive rocks transected by a splay of the Lake St. Joseph Fault, a regional structure that cuts through the Root Bay area where Green Technology Metals (ASX-GT1) is drilling to expand a JORC compliant resource on the Root Bay and McCombe deposits. Pioneer Lithium (ASX-PLN) recently announced a new pegmatite discovery on its adjacent Root Bay claims. Infrastructure: Both claim groups are accessible through a network of logging roads and secondary roads off Highway 105 that connects the mining town of Red Lake to the Trans-Canada highway.

The Optionors: The Ear Falls Lithium Agreement was signed by Perry English and Gravel Ridge Resources Ltd., jointly, the Optionors along with the CEO of SLAM. Upon SLAM earning 100% interest, the Optionors are to hold a 1.5% Net Smelter Return (NSR) Production royalty. SLAM retains the right to buy back one-third of the royalty equal to 0.5% NSR for a one-time payment of CAD 600,000 at any time.

Upon such purchase and payment being made, the Optionors will retain a Production Royalty equal to 1.0% of NSR. 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.