Slam acquires Cu-Ni-Co showing adjacent to Goodwin

Executive Summary

• Slam Exploration Ltd. acquired a 100% interest in the Mount Raymond copper-nickel-cobalt claim adjacent to its Goodwin project via an option agreement with Great Atlantic Resources Corp., expanding the Goodwin project to 12,500 hectares.
• The acquisition includes historical drill data showing a 1.65m interval grading 0.43% Cu, 0.12% Ni, and 0.11% Co, along with other significant cobalt and vanadium intercepts.
• The company also reported the completion of an 850-kilometre VTEM survey over the Goodwin project, identifying conductors associated with previously drilled zones containing significant copper-nickel-cobalt and gold intercepts.

Key Details

• Acquisition Terms:
  • Target: 100% interest in the Mount Raymond property (175 hectares) in New Brunswick.
  • Counterparty: Great Atlantic Resources Corp. (arm's-length).
  • Cash Consideration: Aggregate of $82,500 payable over three years.
  • Share Consideration: 675,000 common shares issued to the optionor.
  • Expenditure Requirement: Minimum $200,000 in qualifying expenditures over three years.
  • Royalty: Upon earning 100% interest, the optionor retains a 2% Net Smelter Return (NSR) royalty.
  • Royalty Buyback: Slam has the right to buy back 1% NSR for $1 million at any time, with a right of first refusal on the remaining 1% NSR before production.
  • Regulatory Status: Subject to TSX Venture Exchange approval; securities subject to a 4-month and 1-day statutory hold period. No finders' fees paid.
• Mount Raymond Drill Results (Historical Data):
  • Hole Context: 2011 drill hole by previous workers.
  • Primary Interval: 1.65 metres core length grading 0.43% Copper, 0.12% Nickel, and 0.11% Cobalt. Mineralization is semi-massive to massive sulphide (pyrrhotite with chalcopyrite).
  • Additional Samples:
    • 1.0 metre grading 0.18% Cobalt.
    • 1.0 metre grading 0.12% Vanadium.
  • Data Source: New Brunswick Department of Natural Resources and Energy Development (Ref No. 1529) and Assessment Report 477287.
• Goodwin Project Exploration Update:
  • VTEM Survey: Geotech completed an 850-kilometre versatile time domain electromagnetic (VTEM) survey. Preliminary maps show conductors associated with the Granges, Logan, and Farquharson zones.
  • Goodwin Historical Drill Highlights (from 2024/2025 campaigns):
    • Hole GW24-02: 64.90 metres grading 2.19% CuEq, including 31.20 metres grading 3.84% CuEq.
    • Hole GW24-01 (Granges Zone): Up to 3.31 g/t Gold over 0.5 metres.
    • Total Drilling: 25 holes drilled across the zones.
• Other Project Updates (Contextual):
  • Jake Lee Gold Project: Discovered new gold vein in 2025 with channel samples up to 40.5 g/t Au and 63.30 g/t Ag. Adjacent soil anomaly up to 0.98 g/t Au.
  • Menneval Gold Project: Soil coverage expanded Jan 7, 2026; anomaly extends 3,000m x 2,500m with gold up to 0.683 g/t. Historical high-grade intervals include 3,955 g/t Au over 0.1m (No. 18 vein).
  • Royalty Income: Company expects significant cash and share payments in 2026 from Wedge (1.2M shares + cash received in 2025) and Ramsay ($60k cash + 180k shares received in 2025) projects.

Notable Quotes

• None explicitly quoted in the text, though Mike Taylor, PGeo, is identified as the Qualified Person approving the release.