SLAM Launches Airborne VTEM Survey - Geotech Flying Over Goodwin Copper Nickel Cobalt Project

On January 23, 2026, SLAM Exploration announced the commencement of an 852-kilometer airborne VTEM-Plus electromagnetic survey over its flagship Goodwin Copper-Nickel-Cobalt project in New Brunswick. The survey, costing an estimated $275,000, aims to detect conductive sulphide targets at depth to guide future drilling.

Simultaneously, the company released results from its recently completed 10-hole (2,944m) diamond drill program at Goodwin. Highlights include: * Hole GW2517: 48 meters grading 2.52% Copper Equivalent (Cu-Eq) (comprised of 0.44% Cu, 0.37% Ni, 0.04% Co). * Hole GW2519: 74.8 meters grading 0.67% Cu-Eq. * Hole GW2524: 94.1 meters grading 0.61% Cu-Eq. * Hole GW2516: A narrow high-grade interval of 0.52m grading 4.30% Cu-Eq.

The company also announced the grant of 3,100,000 incentive stock options to directors, officers, and consultants exercisable at $0.08 for three years.

The news is Routine - Positive. * Project Validation: The drilling results confirm the presence of a mineralized system with significant scale (intercepts up to 94 meters). However, the "high-grade" headline numbers rely heavily on Nickel and Cobalt credits converted into Copper Equivalent. The pure Copper grades in the wide intervals are generally low (0.2% - 0.4%). While a 48m intercept at >2.5% Cu-Eq is optically excellent, investors must note that the actual copper content is 0.44%, meaning the project's economics are highly sensitive to Nickel prices, which can be volatile. * Exploration Continuity: The launch of the VTEM survey indicates management is aggressively pursuing depth extensions, shifting from defining near-surface mineralization to hunting for a massive sulphide "feeder" system. * Dilution Signal: The grant of 3.1M options at $0.08 (current trading range) incentivizes management but adds to the potential share overhang.

SLAM Exploration Ltd. is a project generator and exploration company focused on the mineral-rich New Brunswick province. * Flagship Project (Goodwin): A Copper-Nickel-Cobalt property in the Bathurst Mining Camp. Recent work has identified the "Farquharson" and "Granges" zones, characterized by wide intervals of disseminated mineralization with potential for massive sulphide pods. * Secondary Projects: * Menneval & Jake Lee: Gold projects with high-grade vein occurrences. * Royalties: SLAM holds NSR royalties on properties optioned to partners (Nine Mile Metals, Lode Gold), providing a portfolio of passive exposure.