SLAM Exploration Ltd.
TSX VENTURE : SXL

SLAM Exploration Ltd.

March 07, 2016 08:00 ET

SLAM Announces Gold Shaker Table Test Results

Gold liberated from high grade gold sample of Maisie deposit

MIRAMICHI, NEW BRUNSWICK--(Marketwired - March 7, 2016) - SLAM Exploration Ltd. (TSX VENTURE:SXL) (the "Company") is pleased to announce that free gold was successfully separated from a 92 lb sample collected from a high grade section of the Maisie deposit on SLAM's wholly owned Menneval gold project.

Two pails filled with vein material were collected from a section of the Maisie deposit known as the "Blow" and proven to contain high grade to bonanza grade gold in trenching programs previously reported by SLAM. The pails were shipped to SLAM's Vancouver office and delivered to Mt. Baker Mining and Metals LLC (Mt. Baker) by CFO Eugene Beukman. Mt. Baker then processed the sample through a jaw crusher and hammermill to a grind size passing 20 mesh. From the hammermill the ground material was fed onto a shaker table. The shaker table separated the gold from the quartz and other materials present and produced a quantity of gold concentrate and approximately 90 lbs of tailings. The tailings have the appearance of fine white beach sand. Assays are pending on the tailings to determine the efficiency of the separation process and whether any deleterious materials are present in the tailings. A video of the grinding and separation process was created by Mt. Baker and is posted on SLAM's website www.slamexploration.com.

The Company is preparing to mine the Maisie gold deposit in early summer under a License of Occupation that authorizes SLAM to extract and process samples over a two year period. In connection with this License, the New Brunswick Department of Environment and the Department of Energy and Mines have both approved the removal and processing of a 2,000 tonne bulk sample from this high grade gold deposit. No drilling or blasting is required for this program. The excavated material will be processed using equipment similar to that described above and shown in the SLAM website video. No chemicals will be used in the process. The purpose is to develop environmentally sustainable techniques to extract gold, provide an estimate of the grade of the Maisie deposit and demonstrate the potential for longer term mining operations.

The Company proposes to extract the sample from known shoots of high grade mineralization at surface using an excavator. SLAM previously announced channel samples ranging from 5.17 g/t gold over 1.0m up to 49.5 g/t gold over 0.45m that were cut during a 2013 trenching program. The initial discovery trench produced a bonanza grade chip sample grading 1100 g/t gold over 1.1 m in 2012. Previous diamond drilling results from 60 holes by SLAM indicate that the high grade Maisie deposit shoots extend to a depth of at least 30 m.

About The Menneval Project: SLAM holds 100% interest in 12 contiguous claims that cover 5,000 hectares acquired by map-staking near Menneval in northwest New Brunswick. The property hosts a number of recent gold discoveries including the Maisie deposit and Zone 9. Click on the SLAM website at http://www.slamexploration.com for more detailed information.

About Mt. Baker Mining and Metals LLC: Mt. Baker specializes in designing and manufacturing custom small scale hardrock mills and mining equipment designed for the recovery of fine gold and other dense materials using gravity methods. To learn more about jaw crushers, hammer mills and gold shaker tables, visit www.mbmmllc.com or contact Mt. Baker by phone 360-595-4445 or email mbmmllc@gmail.com.

About SLAM Exploration Ltd:

SLAM is a project generating resource company with a portfolio of gold and base metal projects in eastern Canada. The Menneval gold project resulted from the discovery of the Maisie gold deposit by SLAM's advance scouting team in 2012. Other gold projects include the Reserve Creek and Miminiska gold projects in Ontario. SLAM also owns a base metal portfolio that includes the Superjack (formerly Nepisiguit) and Nash Creek zinc-lead-copper-silver deposits. Additional information about SLAM and its projects is available at www.slamexploration.com or from SEDAR filings at www.sedar.com. Follow us on twitter @SLAMGold.

Qualifying Statements: Mike Taylor, P.Geo. President and CEO of SLAM Exploration Ltd., is the Qualified Person responsible for the technical information contained herein.

Certain information in this press release may constitute forward-looking information, including statements that address the Private Placement, the closing of the Private Placement, future production, reserve potential, exploration and development activities and events or developments that the Company expects. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. There are a number of risk factors that could cause future results to differ materially from those described herein. Information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

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