MIRAMICHI, NEW BRUNSWICK--(Marketwire - April 5, 2012) - SLAM Exploration Ltd. (TSX VENTURE:SXL)(OTCBB:SLMF) ("SLAM") is pleased to report it has resumed exploration activities at its recently acquired gold discovery located near Saint Quentin, New Brunswick. Local prospector Tim Lavoie discovered gold-bearing quartz veins in the fall of 2011. SLAM acquired the property through an option agreement and followed up with additional prospecting and trenching in December. The trenching reveals a series of quartz veins in bedrock over a strike length of 250 m. These quartz veins locally contain visible gold and grab samples ranging up to 493 g/t gold were reported by SLAM in a press release dated January 9, 2012.
The current prospecting program is designed to further trace this gold-bearing structure along strike using the same techniques that were successfully employed in December. The SLAM team has already identified a control structure and expects to extend the potential strike extent of this system with this program.
About The SAINT QUENTIN Gold Discovery: SLAM has an option to earn 100% interest in the NW Gold Project which comprises 251 units in 20 claims located near Saint Quentin, in northwest New Brunswick. Combined they cover 6275 hectares of highly prospective sedimentary rocks with favourable gold-bearing structures.
About New Brunswick: New Brunswick is currently rated the world's most attractive jurisdiction for mineral exploration and development, as announced by the Fraser Institute, February 23, 2012. The Province has demonstrated potential for large mineral deposits and can be expected to generate mining operations well beyond the world-class BMS No. 12 mine operated by Xstrata.
Qualifying Statements: SLAM Project Manager Sara Lloyd, P.Geo. is the Qualified Person responsible for the technical information contained herein. Grab samples were collected and sent to Actlabs in Ancaster, Ontario for fire assay.
About SLAM Exploration Ltd:
SLAM is a mineral resource company based in Miramichi, New Brunswick. In addition to the Lavoie Option with a new gold discovery near Saint Quentin, New Brunswick, SLAM owns the Reserve Creek gold deposit in Ontario. A NI43-101 compliant resource estimate is pending on its wholly owned Nepisiguit volcanogenic massive sulphide deposit. Nash Creek already contains a NI43-101 compliant resource. The Company recently announced significant assay results from diamond drilling at its wholly owned Goodwin Nickel Project in New Brunswick. Additional information about SLAM and its projects is available at www.slamexploration.com or from SEDAR filings at www.sedar.com.
On behalf of the Board
Mike Taylor, P. Geo., President & CEO, SLAM Exploration Ltd.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of 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.
This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical fact, that address future production, reserve potential, exploration and development activities and events or developments that SLAM expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward looking statements. Please see our public filings at www.sedar.com for further information.