SLAM Cuts High Grade Gold & Silver in Channel Samples

Rhea-AI Summary

SLAM Exploration (OTC:SLMXF) reported channel sample assays from the No. 1 vein on its wholly owned Jake Lee claims in New Brunswick, Canada, with results up to 40.50 g/t gold and 63.30 g/t silver. Three 0.40 m channels returned 31.3 g/t, 12.3 g/t and 40.5 g/t gold. Wallrock samples returned gold from 0.118–0.898 g/t. Samples were analyzed by Actlabs (fire assay/AAS and gravimetric for over-limits).

The Jake Lee claims lie 25 km southeast of Galway Metals' Clarence Stream deposit.

Positive

• Channel assays up to 40.50 g/t Au
• Channel assays include 63.30 g/t Ag
• Three vein channels: 31.3, 12.3, 40.5 g/t Au over 0.40 m
• Wallrock gold present at 0.118–0.898 g/t
• Project 25 km southeast of Clarence Stream resource area

Negative

• Channel widths are narrow at 0.40 m, limiting immediate resource extrapolation
• High-grade historical core intervals are extremely narrow (e.g., 0.1–0.5 m), challenging continuity

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Gold, Silver and Critical Elements in the Mineral-Rich Province of New Brunswick, Canada

MIRAMICHI, NB / ACCESS Newswire / January 14, 2026 / SLAM Exploration Ltd. (TSXV:SXL) ("SLAM" or the "Company")is pleased to report new high grade assays up to 40.5 grams per tonne ("g/t") gold and 63.3 g/t silver from channel samples sawn across the No. 1 vein on its wholly owned Jake Lee claims. The Jake Lee project is located 25 kilometers southeast of the Clarence Stream gold deposit operated by Galway Metals Inc. in New Brunswick, Canada.

Three channels were cut across the No. 1 vein and extended into the wall rock on both sides of the vein. The three channel samples cut across the vein assayed 31.3 g/t gold, 12.3 g/t gold and 40.5 g/t gold along with 63.30 g/t silver, 23.2 g/t silver and 25.1 g/t silver as summarized in the following table:

Channel	Sample	Description	East_m	North_m	Width_m	Gold g/t	Silver g/t
JLCS1	188415	No. 1 vein	690634	5010680.8	0.40	31.300	63.30
JLCS2	188419	No. 1 vein	690637	5010683.8	0.40	12.300	23.20
JLCS3	188423	No. 1 vein	690641	5010686.4	0.40	40.500	25.10
JLCS1-HW	188416	Wallrock	690634	5010681.2	0.40	0.213	0.50
JLCS1-FW	188417	Wallrock	690634	5010680.4	0.40	0.266	0.40
JLCS1-FW	188418	Wallrock	690634	5010680.0	0.40	0.898	1.70
JLCS2-FW	188420	Wallrock	690637	5010683.4	0.40	0.146	< 0.2
JLCS2-FW	188421	Wallrock	690637	5010683.0	0.40	0.118	0.20
JLCS2-HW	188422	Wallrock	690637	5010684.2	0.40	0.159	0.50
JLCS3-HW	188424	Wallrock	690641	5010686.8	0.40	0.340	< 0.2
JLCS3-FW	188425	Wallrock	690641	5010686.0	0.40	0.319	0.90

The first 3 samples in the table were cut from the No. 1 vein. The other 8 samples were sawn from wall rock on both sides of the vein. All of the wall rock samples contain gold ranging from 0.118 g/t to 0.898 g/t gold.

Figure 1: The No. 1 Vein

QA-QC Procedures: After cleaning and washing, 3 channels were sawn across the No. 1 vein and into the wallrock. Channel JLCS2 and channel JLCS3 were spaced 3 and 4 meters respectively meters east of channel JLCS1. Eleven channel samples were collected and delivered directly to Actlabs in Fredericton, New Brunswick for analysis. Actlabs analyzed all the samples for gold using procedure 1A2 (fire assay with atomic absorption finish) and 1A3 (gravimetric finish) for over-limit samples. Actlabs also used the ICP 1E3 method to analyze the samples for multiple elements

Jake Lee Project Update

Channel sample assays range up to 40.50 g/t gold and 63.30 g/t silver in the No. 1 gold vein as reported above from SLAM's wholly-owned Jake Lee claims. The Company had previously reported eight grab samples with assays ranging from 7.42 grams per tonne ("g/t") to 94.80 g/t gold from the No. 1 gold vein on July 9, 2025. A second discovery comprised quartz float grading 16.20 and 3.78 g/t gold respectively 100 meters southwest of the initial discovery as reported August 28, 2025.

The Jake Lee claims are located 25 kilometers southeast of the Clarence Stream gold deposit where Galway Metals Inc. Clarence Stream is host to a 12.4M tonne indicated resource of 922,000 ounces at a grade of 2.31 g/t gold plus an inferred resource of 16.1m tonnes with 1,334,000 ounces at a grade of 2.60 g/t gold. (Reference: "Updated Mineral Resource Statement, Clarence Stream Deposits, New Brunswick, Canada, by SLR Consulting (Canada) Ltd., March 31, 2022"). SLAM's exploration team recently mobilized back to Jake Lee.

Historic Menneval Results

SLAM previously reported gold bearing core intervals from the Maisie vein, including 162.5 g/t gold over 0.2 m and 56.90 g/t gold over 0.5 m, in news releases dated December 13, 2021 and November 22, 2022. The Company also reported a core interval grading 3,955 g/t (127oz) gold over 0.1m from the No. 18 vein. The Menneval soil geochemical survey shows a number of gold anomalies over an area measuring approximately 3,000 meters by 2,500 meters.

About SLAM Exploration Ltd: SLAM Exploration Ltd. is a publicly listed resource company with a 40,000-hectare portfolio of mineral claim holdings in the mineral-rich province of New Brunswick. This portfolio is built around the Goodwin Copper Nickel Cobalt project in the Bathurst Mining Camp ("BMC") of New Brunswick. The Company drilled 10 holes in the 2025 diamond drilling campaign on the Goodwin copper-nickel-cobalt project. This followed significant copper, nickel and cobalt intercepts from 15 diamond drill holes reported by the Company in 2024. These include a 64.90 meter core interval, grading 2.19% Cu-Eq (copper-nickel-cobalt), including 3.84% Cu-Eq over a 31.20 meter core interval from hole GW24-02 as reported in a news release August 7, 2024. Significant gold values were also reported with up to 3.31 grams per tonne over 0.5m in hole GW24-01.

The Company is a project generator and expects to receive significant cash and share payments in 2026. SLAM received 1,200,000 shares plus cash from Nine Mile Metals Inc. (NINE) in 2025 pursuant to the Wedge project agreement. Also in 2025, the Company received a cash payment of $60,000 as well as 180,000 shares of a private company pursuant to the Ramsay gold agreement. The Company holds NSR royalties and expects to receive additional cash and share payments on the Wedge copper zinc project and on the Ramsay gold project.

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.Join our company newsletter by clicking SXL-News to receive timely company updates and press releases relating to SLAM Exploration.

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.

CONTACT INFORMATION:

Mike Taylor, President & CEO
Contact: 506-623-8960
mike@slamexploration.com

Jimmy Gravel, Vice-President
Contact 902-273-2387
jimmy@slamexploration.com

SEDAR+: 00012459

Forward-Looking Statements

This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking statements are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances. Forward-looking statements are often, but not always, identified by words such as "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential," "may," "could," "would," "might," or "will," and similar expressions.

Forward-looking statements in this news release include, but are not limited to: statements regarding the exploration potential of the Harry Brook gold-antimony project; the significance of historical gold and antimony occurrences; the interpretation of geological, geochemical, and geophysical data; the identification and prioritization of exploration targets; the anticipated receipt and significance of pending assay results from the Jake Lee Project; the continuity and extent of mineralized structures at Jake Lee and Menneval; the timing and scope of future exploration programs; the Company's ability to advance its mineral projects; and the potential for future exploration success..

Forward-looking statements are based on reasonable assumptions made by the Company as of the date of this news release, including, without limitation: that historical exploration results, mineral occurrences, and publicly reported third-party mineral resources are relevant for regional and exploration context; that geological interpretations and targeting models are reasonable; that pending assay results will be received within anticipated timeframes; that planned exploration activities can be executed as expected; that contractors, equipment, personnel, and supplies will be available on acceptable terms; that commodity prices and market conditions will remain generally supportive; and that required permits, approvals, and access rights will be obtained in a timely manner.

Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. These risks and uncertainties include, without limitation: the speculative nature of mineral exploration; the risk that exploration results, including pending assay results, may not confirm historical data or current interpretations; uncertainty regarding the continuity, grade, and extent of mineralization; delays or changes to exploration programs; availability and cost of labour, equipment, and contractors; fluctuations in commodity prices; availability of financing on acceptable terms; regulatory, environmental, and permitting risks; operating hazards; and general economic, market, and business conditions. Additional risk factors are described in the Company's most recently filed Management's Discussion and Analysis and other continuous disclosure documents available under the Company's profile on SEDAR+.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: SLAM Exploration Ltd.

View the original press release on ACCESS Newswire

FAQ

What gold grades did SLMXF report from the No. 1 vein on January 14, 2026?

SLMXF reported channel assays up to 40.50 g/t gold with three vein channels of 31.3, 12.3 and 40.5 g/t Au over 0.40 m.

How much silver did SLMXF find in the Jake Lee No. 1 vein channel samples (SLMXF)?

Silver assays reached up to 63.30 g/t Ag in the No. 1 vein channel samples.

What sample method and lab did SLMXF use for the Jake Lee channel assays?

Eleven sawn channel samples were delivered to Actlabs and analyzed by fire assay (AAS) with gravimetric finish for over-limits and ICP multi-element methods.

How wide were the channel samples reported by SLMXF at Jake Lee?

Each reported channel sample across the No. 1 vein was 0.40 m in width.

Where is SLAM's Jake Lee project relative to Galway Metals' Clarence Stream (SLMXF proximity)?

The Jake Lee claims are located about 25 km southeast of the Clarence Stream deposit.

Do the SLMXF results indicate a near-term resource at Jake Lee?

Results show high-grade narrow intervals, but the 0.40 m channel widths and limited sample set mean further work is needed before resource statements are possible.