SLAM Exploration Ltd. announced further to its news release dated May 11, 2023, that it has received TSX Venture Exchange approval and closed the option agreement dated May 9, 2023 with Robert Murray to acquire a 100% interest in the Shadow Lake Property, located on the Trans-Canada highway 15 kilometres west of Saint John, New Brunswick (the "Property"). The Shadow Lake Gold Project: The Property is host to 7 recent gold discoveries made in 2021 by previous workers. Six gold discoveries on the east portion of the claims include one site that returned a grab sample grading 70.4 g/t gold and 5 sites where grab samples are grading from 0.396 g/t to 3.03 g/t gold.

Approximately 14 kilometres to the west, a similar occurrence returned grab samples ranging up to 54.9 g/t gold. SLAM's prospecting team reported a site of visible gold at this occurrence after a due diligence visit. Assays are pending on 5 samples collected during this visit.

The Option Agreement: Upon signing of the Option Agreement, Slam paid $15,000 cash to the Optionor and has now issued 100,000 common shares ("Shares") at a price of $0.05 per Share to the Optionor. The Shares are subject to a statutory hold period of four months and one day which will expire on October 19, 2023. The Company must issue a further 1,400,000 Shares and make cash payments of $230,000 over a period of four (4) years from signing the Option Agreement in order to earn a 100% interest in the Property.

The Property is subject to a royalty of 2% Net Smelter Return ("NSR"). The Company may purchase one half of the royalty for $1,000,000 at any time and the remaining half of the royalty for $2,000,000 at Any time. The Property comprises 6 claims covering 3782 hectares along a 20 kilometre stretch of granitic and sedimentary rocks associated with the Fundy fault zone.