SLAM Exploration Ltd.

SLAM Exploration Ltd.

March 27, 2008 09:25 ET

SLAM Exploration Ltd.: Drilling Underway at Ontario Gold Project

MIRAMICHI, NEW BRUNSWICK--(Marketwire - March 27, 2008) - SLAM Exploration Ltd. (TSX VENTURE:SXL) ("SLAM") announces drilling has commenced on the Miminiska-Keezhik Gold Project. Approximately 5 holes are designed to target the Keezhik porphyry zone where SLAM made 2 new gold discoveries through drilling in 2004. The initial hole will step out 50m from discovery hole S0408 which returned 13.71 g/t (0.40 oz/t) gold over 0.5m. The zone is open eastward and westward and is associated with a 500m long humus anomaly.

SLAM holds an option to earn 70% interest in the Miminiska-Keezhik gold property located east of the former gold mining town of Pickle Lake in the Uchi Subprovince of Ontario. The earn-in requirements will be fulfilled upon completion of the drilling program. SLAM expects to complete drilling at the Reserve Creek and Opikeigen gold projects under the same 3,000m drilling contract. SLAM owns 100% interest in the Reserve Creek gold property and a 50% interest in the Opikeigen gold property. Bard Ventures Inc. has agreed to fund its 50% proportionate share of drilling at the jointly owned Opikeigen gold property which hosts the historic Fort Hope Gold Mine. Miminiska-Keezhik, Reserve Creek and Opikeigen combine for a strategic land package of known gold occurrences...

These gold properties all lie within the Traditional Territories of the Eabametoong First Nation ("EFN"). On 31 August 2007, SLAM and EFN signed a Memorandum of Understanding (MOU) and SLAM has resumed exploration activities on these properties.

The Company mobilized a rig and crew on 15 March 2008 to complete a drilling program at Miminiska-Keezhik, Reserve Creek and Opikeigen properties with a drilling budget of $1M. The drilling program complies with the MOU. Mike Taylor, CEO of SLAM states "We are proud of the MOU and pleased to be working with EFN to unlock the tremendous mineral potential of this area. This program will demonstrate this potential by drilling the Porphyry Zone at Keezhik, the Baroque Zone at Miminiska, the Williams Zone at Reserve Creek and the Fort Hope Gold Mine at Opikeigen where spectacular gold grades were found by previous workers."

Derek F. Brown P.Geo., SLAM's Exploration Manager, is the Qualified Person, as defined under National Instrument 43-101, responsible for the results reported in this news release.

SLAM Exploration Ltd. is a mineral resource company based in Miramichi, New Brunswick. It is involved in gold exploration in the Uchi sub-province of northwest Ontario as well as base metal exploration in New Brunswick including the world class Bathurst Mining Camp. Additional information about SLAM including updated information on our Ontario gold projects is available at or from its SEDAR filings at

On behalf of the Board, Mike Taylor, P. Geo.

President & CEO

SLAM Exploration Ltd.

SEDAR: 00012459E

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to "U.S. Persons" as such term is defined by regulations under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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