SLAM Announces $259,000 Flow-Through Private Placement

a. Up to 4,400,000 CMETC Flow-Through Units (the "CMETC FT Units") issued at a price of $0.035 per CMETC FT Unit, to raise gross proceeds of up to $154,000. Each CMETC FT Unit will consist of one (1) flow-through common share (each a "FT Share") of the Company and one half (1/2) of one transferable non-flow-through common share purchase warrant (with two such half warrants being a "Warrant".

b. Up to 3,000,000 CEE Flow-Through Units (the "CEE FT Units") issued at a price of $0.035 per CEE FT Unit, to raise gross proceeds of up to $105,000. Each CEE FT Unit will consist of one (1) FT Share and one half (1/2) of one Warrant.

c. Each Warrant will be exercisable to acquire one additional non-flow-through common share of the Company at a price of $0.05 for a period of 24 months following the date of issuance.

d. The gross proceeds raised from the issuance of the CMETC FT Units will be used to fund "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures" as such terms are defined in subsection 66.1(6) and subsection 127(9) of the Income Tax Act (Canada) respectively thereby being eligible for the 30% federal Critical Mineral Exploration Tax Credit.

e. The gross proceeds raised from the issuance of the CEE FT Units will be used to fund "Canadian exploration expenses" within the meaning of subsection 66.1(6) Income Tax Act (Canada).

The Company plans to use the proceeds from the CMETC FT Units to conduct exploration work on Copper-Nickel projects in New Brunswick and proceeds from the CEE FT Units to conduct work on gold projects in New Brunswick in 2024 and 2025. Exploration will be conducted on projects with demonstrated potential for critical metals and/or precious metals.

The Offering is expected to close on or about November 4, 2024, and is subject to the receipt of all necessary regulatory and other approvals, including, but not limited to, acceptance of the TSX Venture Exchange. All securities issued pursuant to the Offering will be subject to a hold period of four months and one day from the closing date in accordance with applicable securities laws.

The Company may pay finder's fees on the Offering and it is anticipated that certain insiders will participate in the Offering .

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 unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About SLAM Exploration Ltd: SLAM Exploration Ltd. is a public resource company with a substantial portfolio of mineral claim holdings in the mineral-rich province of New Brunswick. The Company recently completed three diamond drill holes on the Goodwin copper-nickel project in the BMC of New Brunswick. Highlights include:

• A 60.60-meter core interval grading 1.17% copper equivalent in hole GW24-03

• A 64.90-meter core interval grading 2.14% copper equivalent in hole GW24-02

• A 35-meter core interval grading 1.36% copper equivalent in hole GW24-01

Based on these drilling intercepts, the Company has expanded the Goodwin Project which now comprises 194 units covering 4,239 hectares. Drilling resumed on October 10, 2024.

SLAM has discovered multiple gold veins on its wholly owned Menneval gold project. The Company has reported gold-bearing core intervals, including 162.5 g/t gold over 0.2 meters and 56.90 g/t gold over 0.5 meters (news releases dated December 13, 2021, and November 22, 2022). Additionally, the Company reported quartz float grading up to 39.2 g/t gold on its Jake Lee project, located near the Clarence Stream gold deposit, where Galway Metals Inc. is working on a 2.3-million-ounce gold deposit in southern New Brunswick.

SLAM also owns the Mine Road copper-zinc-silver project, adjacent to the former producing Heath Steele Mines property in the BMC. Previous workers have reported successful diamond drill holes at Mine Road, including IL2014-003, which intersected a 9-meter core interval grading 14.51% zinc, 5.86% lead, 0.67% copper, and 139.9 g/t silver in the volcanogenic massive sulphide Railroad Zone (Doe Run Canadian Exploration ULC; 2015, New Brunswick Assessment Files, Report of Work 477877). The Railroad Zone is located 7,000 meters east of the 20-million-tonne former producing Heath Steele B Zone.

The Company is a project generator and has received significant cash and share payments over the last nine months, including:

• $150,000 cash and 50,000 shares from S2 Minerals Inc. (STWO) on December 19, 2023, pursuant to the Reserve Creek gold agreement.

• 534,000 shares and 333,000 warrants (exercisable at $0.01) from Nine Mile Metals Inc. (NINE) on March 1, 2024, pursuant to the Wedge Project agreement.

• $25,000 cash plus 2,500,000 shares of Lode Gold Resources Inc. (LOD) pursuant to the Ramsay Gold agreement.

The Company holds NSR royalties and expects additional cash and share payments from the Wedge copper-zinc project and the Ramsay, Reserve Creek, and Opikeigen gold projects.

To view SLAM's corporate presentation, click SXL-Presentation. Additional information is available on SLAM's website and on SEDAR+ at www.sedarplus.ca. Follow us on X @SLAMGold.

Qualifying Statements: Mike Taylor P.Geo, President and CEO of SLAM Exploration Ltd., is a qualified person as defined by National Instrument 43-101, and has approved the contents of this news release.

Certain information in this press release may constitute forward-looking information, including statements regarding mineral resources and the Company's plans with respect to the exploration and development of its properties. 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.sedarplus.ca.

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.

CONTACT INFORMATION:

Mike Taylor, President & CEO

Contact: 506-623-8960 mike@slamexploration.com

Eugene Beukman, CFO

Contact: 604-687-2038 ebeukman@pendergroup.ca SEDAR+: 00012459

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