MIRAMICHI, NB — December 18, 2025 — Leads & Copy — SLAM Exploration Ltd. (TSXV:SXL) has completed channel sampling of the No. 1 vein on its wholly owned Jake Lee project in southwestern New Brunswick, with assays pending on 11 channel samples sawn from the vein. Since its discovery, as reported July 9, 2025, the No. 1 vein has produced gold grades ranging from 7.42 grams per tonne (“g/t”) to 94.80 g/t.
The Jake Lee project is located 25 kilometers southeast of the Clarence Stream gold deposit, operated by Galway Metals Inc. in New Brunswick, Canada. The No. 1 vein was cleaned prior to channel sampling.
SLAM Exploration also uncovered other quartz veins in trenches 7,500 meters southwest of the No. 1 vein, where the company had previously discovered a quartz-carbonate zone. Both the No. 1 vein and the quartz-carbonate zone occur on the north flank of a magnetic low thought to represent a regional fault zone.
The company also uncovered angular quartz rubble with chalcopyrite-bornite mineralization in a trench 1,600 meters southeast of the No. 1 gold vein. This trench is 200 meters north of the CT vein and represents a potential extension of that vein. Chalcopyrite-bornite mineralization is also associated with the No. 1 gold vein.
SLAM Exploration Ltd. has been awarded $45,000 from the Province of New Brunswick under its Junior Mining Assistance Program to support the 2025 Jake Lee gold exploration campaign.
Eleven channel samples were sawn from exposed bedrock in trench JT25-01 and delivered directly to Actlabs in Fredericton, New Brunswick, for analysis. Additionally, 52 grab samples were collected from a trenching/prospecting program on the Jake Lee claim.
Actlabs will analyze all samples for gold using procedure 1A2 (fire assay with atomic absorption finish) and 1A3 (gravimetric finish) for over-limit samples. Actlabs will also use the ICP 1E3 method to analyze the samples for multiple elements.
SLAM Exploration Ltd. is a publicly listed resource company with a 40,000-hectare portfolio of mineral claim holdings in New Brunswick. In 2025, the company drilled 10 holes in the diamond drilling campaign on the Goodwin copper-nickel-cobalt project in the Bathurst Mining Camp (“BMC”) of New Brunswick. The drilling program follows significant copper, nickel, and cobalt intercepts from 15 diamond drill holes reported by the company in 2024 on the Goodwin project. These include a 64.90 meter core interval, grading 2.19% Cu-Eq (copper-nickel-cobalt), including 3.84% Cu-Eq over a 31.20 meter core interval from hole GW24-02 as reported in a news release August 7, 2024. Significant gold values were also reported with up to 3.31 grams per tonne over 0.5m in hole GW24-01.
SLAM’s exploration team recently mobilized back to Jake Lee.
SLAM reported gold bearing core intervals including 162.5 g/t gold over 0.2 m and 56.90 g/t gold over 0.5 m from the Maisie vein in news releases on December 13, 2021 and November 22, 2022. The company had previously reported a core interval grading 3,955 g/t (127oz) gold Au over 0.1m from the No. 18 vein. These veins are associated with a soil geochemical anomaly that stretches for 3,000 meters along strike. Assays are pending on 900 additional samples to expand the soil coverage and further define the target on this extensive vein system.
SLAM expects to receive significant cash and share payments in 2026. SLAM received 1,200,000 shares plus cash from Nine Mile Metals Inc. (NINE) on February 28, 2025 pursuant to the Wedge project agreement. On March 29, 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 on the Ramsay gold project.
Mike Taylor P.Geo, President and CEO of SLAM Exploration Ltd., is a qualified person as defined by National Instrument 43-101, and has approved the contents of this news release.
Contact Information:
Mike Taylor, President & CEO
Contact: 506-623-8960
mike@slamexploration.com
Jimmy Gravel, Vice-President
Contact 902-273-2387
jimmy@slamexploration.com
SEDAR+: 00012459
Source: SLAM Exploration Ltd.
