Slam Mobilizes Drill Team to Moose Lake, Intersecting Broad Zones of Brecciated and Altered Rock With Visible Stibnite Along the Moose Lake Fault Zone

SLAM Exploration Ltd. (SXL) has mobilized its drill rig from the Goodwin project to the Moose Lake Gold-Antimony-Silver Project, where two NQ holes—ML26-01 and ML26-02—were drilled along the Moose Lake Fault Zone beneath previously trenched antimony-bearing rock.

ML26-01, with a total length of 77.0 m (azimuth 20°, dip -60°, collar 697714E/5231693N), intersected brecciated, fractured, altered metasediment containing visible pyrite, arsenopyrite, and stibnite from 5.0 m to the end of the hole. This interval included a fault zone characterized by clay gouge and graphite from 25.0 to 32.3 m.

ML26-02, with a total length of 147.5 m (azimuth 70°, dip -70°, collar 697894E/5231645N), intersected strongly brecciated, clay/sericite-altered rock with pyrite, arsenopyrite, and stibnite from 5.0 to 57.6 m. This section included strong silicification and quartz flooding from 51.4 to 57.6 m. The hole continued through altered and brecciated rock to the end, where drilling was stopped in a brecciated quartz vein with traces of pyrite and stibnite due to ground conditions. The company stated that altered and veined breccia persisted to approximately 135 m vertical depth below the collar.

A total of 224.5 core metres were drilled across the two holes, with 145 samples submitted for multi-element ICP and gold fire assay at ALS Chemex in Moncton. All results are pending.

Results were also received for 61 grab samples, comprising 47 from Moose Lake (35 from trenches and 12 from outcrops) and 14 from Skull, with only selected samples tabulated. At Moose Lake, the best antimony results included L458087 (outcrop) at 0.126 g/t Au, 1.9 g/t Ag, and >1.00% Sb; C960037 (trench) at 0.005 g/t Au, 1.1 g/t Ag, and >1.00% Sb; L458097 (outcrop) at 0.938% Sb; and L458086 at 0.824% Sb. The best gold result at Moose Lake was M188448 (trench) at 0.735 g/t Au, 13.6 g/t Ag, and 0.0379% Sb.

At Skull, three samples previously reported as above the antimony detection limit were re-analyzed using Sb-ICP08, returning 3.73% Sb (L458064), 1.38% Sb (L458052), and 1.14% Sb (L458051), each with very low gold content ranging from 0.013 to 0.048 g/t Au. Gold-silver-rich samples from Skull included L458057 at 1.965 g/t Au / 39.6 g/t Ag / 0.0232% Sb; L458056 at 1.090 g/t Au / 73.5 g/t Ag; L458058 at 1.330 g/t Au / 37.9 g/t Ag; and L458059 at 0.227 g/t Au / 60.7 g/t Ag. The company noted that the antimony-rich and gold-silver-rich samples are located 150-230 m apart, indicating metal zoning.

Regarding the Goodwin project, 19 NQ holes totaling 3,349 core metres were drilled between June and October 5, 2026. There are 235 assays pending for holes GW26-37 to GW26-43. Highlights restated include GW26-29 with 29.85 core metres at 0.968% Cu-Eq 95%, GW26-33 with 14.45 core metres at 1.533% Cu-Eq 95%, and GW26-36 with 42.5 core metres at 0.448% Cu-Eq 95%. GW26-36 represents the first assay reported for this new discovery hole, located 2,000 m northwest of the Logan zone.

SLAM Exploration will be represented by Mike Taylor, now Chairman, at the EMP 2026 conference on October 26, 2026. The Moose Lake project, covering 3,895 hectares, was acquired under an option agreement dated March 30, 2026.

SLAM Exploration Ltd. (SXL) released results from its Moose Lake and Goodwin projects, confirming geological features and quantifying previously high-grade samples. The company, a pre-resource explorer with a market capitalization of approximately C$9.6 million, reported no mineral resource or reserve estimates on any project.

At the Moose Lake fault system, two holes approximately 180 meters apart confirmed that the system carries breccia, alteration, and visible stibnite from the surface to a vertical depth of approximately 135 meters. Additionally, three previously over-limit samples from the Skull antimony zone were quantified, returning grades of 1.14-3.73% Sb.

In the Goodwin area, the first assay results for the GW26-36 discovery hole reported 42.5 meters at 0.448% Cu-Eq. This grade is below the visual implications of "massive sulphide" observed in August 2026 and below the typical deposit-type band. The release also included a restatement of results for holes GW26-29 and GW26-33, which showed essentially unchanged %-m values.

The company’s prior-period context, as reported for the six months ended July 31, 2026, included zero revenue, a net loss of $244,428, and cash holdings of $1,333,844. Working capital stood at $1,196,000, with exploration spending of $1,064,636 during the period. The accumulated deficit was approximately $26.16 million, accompanied by a going-concern qualification. In March 2026, the company raised $2,072,750 through a private placement at $0.09 per share, including $0.13 warrants.

SLAM Exploration’s stock traded at C$0.06, representing the low of its 52-week range, down from C$0.12-0.13 a year ago. The stock traded at $0.07 on August 27 and $0.06 on August 28, prior to drifting to its current level. The company’s investor presentation indicates it remains in the pre-resource exploration stage.

SLAM Exploration Ltd. (TSXV: SXL; OTCQB: SXLXF), a project generator based in Miramichi, New Brunswick, holds a stated 40,000-hectare claim portfolio in the province. Its flagship asset is the Goodwin Copper-Nickel-Cobalt project in the Bathurst Mining Camp, which was expanded with the Mount Raymond claim to roughly 12,500 hectares. The company completed a 2026 drill programme consisting of 19 holes for 3,349 meters, with 235 assays pending. A historical highlight from the project is 64.90 meters at 2.19% CuEq, including 31.20 meters at 3.84% CuEq, in hole GW24-02 from 2024.

The company also holds the Moose Lake Gold-Antimony-Silver project, comprising 3,895 hectares optioned on March 30, 2026. This property features three occurrences—Skull, Moose Lake, and Stewart—spread over approximately 4.7 kilometers of the Moose Lake Fault Zone. Historical showings include up to 4.32% Sb and 0.894 g/t Au at Skull, 1.67% Sb at Moose Lake, and 0.57% Sb at Stewart. The project includes contiguous wholly owned Slacks Lake claims.

In the Jake Lee gold project, which is wholly owned, channel samples from the No. 1 vein returned up to 40.5 g/t Au and 63.30 g/t Ag over 0.40 meters. A 2026 five-hole, 544-meter programme is underway with assays pending. The property is located approximately 25 kilometers southeast of Galway Metals' Clarence Stream deposit, which contains 12.4 million tonnes indicated at 2.31 g/t Au and 16.1 million tonnes inferred at 2.60 g/t Au.

The Menneval gold project covers 5,275 hectares and features a soil anomaly measuring approximately 3,000 by 2,500 meters, with gold grades up to 0.683 g/t. Historical high-grade intervals include 162.5 g/t Au over 0.2 meters, 56.90 g/t Au over 0.5 meters, and 3,955 g/t Au over 0.1 meters; these are historical, non-43-101 intervals and carry no QA/QC weight.

Other assets include the Harry Brook gold-antimony project (1,428 hectares), the Mine Road Cu-Zn project (11,876 hectares), the Love Lake option, and NSR royalties on Wedge (Nine Mile Metals), Ramsay, Reserve Creek, Opikeigen, Ferguson, and Nash Creek/Superjack.

As of July 31, 2026, there were 159,203,780 shares outstanding, with a book value per share of C$0.03. Insider ownership is approximately 58% per the investor deck. Jimmy Gravel serves as President and CEO, and Mike Taylor is Chairman, though Taylor was listed as President and CEO in releases earlier in 2026. No mineral resource or reserve estimate has been published for any SLAM project, and there are no economic studies, production, revenue, or metallurgy data.