Slam Exploration begins VTEM survey on Goodwin

Executive Summary

• Slam Exploration Ltd. has launched an 852-kilometre VTEM airborne electromagnetic survey over its Goodwin copper-nickel-cobalt project in New Brunswick, aimed at identifying deep-seated magmatic chambers and extensions of known zones.
• The company reported final assay results from its 2025 drilling campaign, which consisted of 10 holes totaling 2,944 metres, following significant 2024 results that included a 64.90-metre interval grading 2.19% CuEq.
• The Board approved the grant of 3.1 million stock options at $0.08 per share, while the company provided updates on the Jake Lee gold project (pending soil assays, strong channel sample results) and historic Menneval results.

Key Details

• Geophysical Survey:

  • Survey Type: VTEM (versatile time-domain electromagnetic) Plus airborne electromagnetic survey.
  • Contractor: Geotech Ltd.
  • Scope: 852 kilometres flown over the Goodwin copper-nickel-cobalt project.
  • Cost: Estimated $275,000.
  • Objective: Identify potential ovoid-type copper-nickel-cobalt deposits associated with deep-seated magmatic chambers and extensions of the Farqharson, Granges, Logan, and Bruce zones.
  • Context: Follow-up to the 2024-2025 drilling campaign.

• 2025 Drilling Results (Goodwin Project):

  • Holes Completed: 10 holes.
  • Total Metres: 2,944 metres of diamond drilling.
  • Assay Status: Final assays received.
  • 2024 Context (for comparison): 15 holes drilled; highlights included 64.90m at 2.19% CuEq (including 31.20m at 3.84% CuEq in hole GW24-02) and gold up to 3.31 g/t over 0.5m in hole GW24-01.

• Quality Assurance/Quality Control (QA/QC):

  • Processing: Core logged in Bathurst, N.B.; sawn with diamond blade; half-core samples bagged, tagged, and delivered to Activation Laboratories Ltd. (Actlabs) in Fredericton.
  • Methods: Multielement analysis using assay method UT7.
  • Overlimit Protocol: Samples >1% reanalyzed using method 8-AR.
  • Controls: Blanks and standards included in each sample series.

• Corporate Actions (Options Granted):

  • Quantity: 3.1 million common shares.
  • Exercise Price: $0.08 per share.
  • Recipients: Directors, officers, employees, and consultants.
  • Plan: 10-per-cent rolling stock option plan.
  • Terms: Exercisable for a three-year term; expires January 23, 2029.

• Jake Lee Project Update:

  • Soil Sampling: Assays pending on 700 soil samples from the vicinity of the No. 1 gold vein.
  • Channel Sample Results (No. 1 Vein):
    • Sample 1: 31.3 g/t gold, 63.30 g/t silver.
    • Sample 2: 12.3 g/t gold, 23.2 g/t silver.
    • Sample 3: 40.5 g/t gold, 25.1 g/t silver.
  • Location Context: Located 25 km southeast of Galway Metals Inc.'s Clarence Stream deposit (12.4M tonne indicated resource at 2.31 g/t Au; 16.1M tonne inferred resource at 2.60 g/t Au).

• Historic Menneval Results:

  • Maisie Vein: Previously reported 162.5 g/t gold over 0.2m and 56.90 g/t gold over 0.5m.
  • No. 18 Vein: Previously reported 3,955 g/t (127 oz) gold over 0.1m.
  • Geochemistry: Soil survey shows gold anomalies over an area of approx. 3,000m x 2,500m.

• Company Financials & Royalties (From "About" Section):

  • Status: Project generator expecting significant cash and share payments in 2026.
  • Wedge Project: Received 1.2 million shares plus cash from Nine Mile Metals Inc. in 2025.
  • Ramsay Project: Received $60,000 cash and 180,000 shares of a private company in 2025.
  • Royalties: Holds net smelter return (NSR) royalties on Wedge and Ramsay projects.

Notable Quotes

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