Slam Drills 74.80 meter Copper, Nickel Cobalt Core Interval at Goodwin

Rhea-AI Summary

SLM Exploration (OTC:SLMXF) reported a 74.80 metre core intercept grading 0.96% copper equivalent (Cu Eq) in hole GW25-19 on the Farquharson zone at the wholly owned Goodwin copper-nickel-cobalt project on December 11, 2025.

True width is estimated at 50 metres from the 74.8m core length. The Farquharson zone strike is extended to 360 metres and remains open; company data and an airborne MegaTEM survey suggest possible extensions to 7,000 metres. The 2025 program delivered 10 holes totalling 2,603 metres. Grades are "recovered" Cu Eq using a 90% recovery assumption and metal prices dated December 9, 2025.

Positive

• 74.80m intercept at 0.96% Cu Eq in GW25-19
• Estimated 50m true width from the core interval
• Farquharson strike extended to 360m and remains open
• 10 holes drilled totaling 2,603m in 2025 program
• Historic MegaTEM survey suggests up to 7,000m strike potential

Negative

• Reported grades are "recovered" Cu Eq using a 90% recovery assumption
• Result is from a single long intercept; resource not yet defined beyond 360m strike

A Breakout Critical Element Core Intercept In The Bathurst Mmining Camp

MIRAMICHI, NB / ACCESS Newswire / December 11, 2025 / SLAM Exploration Ltd. (TSXV:SXL) ("SLAM" or the "Company")is pleased to announce it has drilled a 74.80 meter ("m") core interval grading 0.96% copper equivalent (Cu Eq) in hole GW25-19 on the Farquharson zone at the wholly owned Goodwin Copper-Nickel-Cobalt Project. The Goodwin project covers 11,860 hectares (29,300 acres) of prospective mineral land located 35 kilometers southwest of the Caribou Mine in the mineral-rich Bathurst Mining Camp of New Brunswick.

Diamond Drilling Highlights:

Hole No	From	To	Length	Copper%	Nickel%	Cobalt%	Cu Eq%
GW25-19	76.10	150.90	74.80m	0.37	0.38	0.05	0.96

Based on the core length of 74.8 meters, the true width is estimated at 50 meters at a recovered grade of 0.96% copper equivalent. The known strike length of 360 meters and depth of 200 meters point to significant tonnage potential for the Farquharson zone. The copper equivalent (Cu Eq%) values are "recovered" grades calculated using a recovery rate of 90% and based upon copper, nickel, cobalt, silver and gold prices published December 09, 2025 on the website Daily Metal Price.

Figure 1 Farquharson Zone Cross Section DDH GW24-05 and GW25-19

The Company drilled 10 holes of NQ size core for a total of 2,603 meters in the 2025 Goodwin drilling campaign including one hole on the Granges Zone and nine holes on the Farquharson Zone. Drilling extended the strike length of the Farquharson Zone to 360 meters and the Zone is open in both directions. (see Figure 2).

Figure 2 Farquharson Zone Drilling Plan - Aeromagnetic Calculated Vertical Gradient (CVD)

Figure 2 is derived from SLAM's historic airborne MegaTEM survey that covered the entire Bathurst Mining Camp. This survey suggests potential for Farquharson zone extensions over a 7,000 meter strike length. With momentum building, the Company has initiated the next phase by requesting quotes from geophysics contractors for airborne and down-hole EM surveys. These surveys are intended to support target generation and drill planning for the promising 2026 diamond drilling campaign. The location details for hole GW25-19 are as follows:

Hole_ID	East_UTM	North_UTM	Elev	Az	Dip	Length_m
GW2519	698094	5238571	501	44	-65	191

QA-QC Procedures: Core was collected from the drill in trays and delivered to a secure logging facility in Bathurst, New Brunswick. After logging, samples were sawn using a diamond blade. Sawn half-core samples were numbered, collected in bags, tagged and delivered to Activation Laboratories Ltd. ("Actlabs") in Fredericton. Actlabs completed multi-element analysis using assay method UT7. Samples returning over-limit results (greater than 1%) for the UT7 are re-analyzed using method 8-AR. Blanks and standards are included in each sample series.

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. Diamond drilling is in progress on the Goodwin copper-nickel-cobalt project in the Bathurst Mining Camp ("BMC") of New Brunswick. The drilling program follows significant copper, nickel and cobalt intercepts from 15 diamond drill holes reported by the Company in 2024 on the Goodwin project. 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 launched its 2025 exploration program with two new gold discoveries on its wholly-owned Jake Lee claims. SLAM reported eight grab samples with assays ranging from 7.42 grams per tonne ("g/t") to 94.80 g/t gold in the initial discovery 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.

SLAM reported gold bearing core intervals including 162.5 g/t gold over 0.2 m and 56.90 g/t gold over 0.5 m from the Maisie vein in news releases on December 13, 2021 and November 22, 2022. The Company had previously reported a core interval grading 3,955 g/t (127oz) gold Au over 0.1m from the No. 18 vein. These veins are associated with a soil geochemical anomaly that stretches for 3,000 meters along strike. Assays are pending on 900 additional samples to expand the soil coverage and further define the target on this extensive vein system.

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) on February 28, 2025 pursuant to the Wedge project agreement. On March 29, 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 Company's exploration plans at the Goodwin Project, the anticipated scope, timing and results of the current and future drill programs, the potential extension of mineralized zones, and the potential to identify additional mineral resources.

Forward-looking statements are based on reasonable assumptions made by the Company as of the date of this release, including assumptions that geological interpretations and mineralization continuity are reasonable; that planned drill and geophysical programs can be completed as scheduled; that equipment, contractors and personnel will be available on acceptable terms; that assay and geophysical results will be received within expected timeframes; that commodity prices and economic conditions will remain generally supportive; and that required permits and approvals will be obtained in a timely manner.

These 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. Such risks and uncertainties include, without limitation: exploration results that may not confirm current interpretations or expectations; geophysical survey results that may not define viable drill targets; delays in exploration programs; availability of drill equipment, contractors, and personnel; increases in costs; changes in commodity prices; availability of financing on acceptable terms; general economic, market and business conditions; regulatory changes; environmental risks; operating hazards; delays or inability to obtain required approvals; and other risk factors described in the Company's most recently filed Management's Discussion and Analysis and other filings with Canadian securities regulators.

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 did SLMXF announce on December 11, 2025 for Goodwin project?

SLMXF reported a 74.80m core interval in GW25-19 grading 0.96% Cu Eq on the Farquharson zone.

How wide is the GW25-19 intercept and what is the true width for SLMXF?

Core length is 74.80m with an estimated 50m true width reported by the company.

How much drilling did SLMXF complete in the 2025 Goodwin campaign?

The company drilled 10 holes totaling 2,603 metres in the 2025 program.

Does the Farquharson zone at Goodwin have further expansion potential for SLMXF?

Yes; the zone is open along strike to both directions and an airborne MegaTEM survey suggests potential up to 7,000m of strike.

How were the Cu Eq grades for SLMXF calculated for GW25-19?

Cu Eq values are "recovered" grades calculated using a 90% recovery rate and metal prices dated December 9, 2025.

What follow-up work did SLMXF plan after the GW25-19 result?

The company requested quotes for airborne and down-hole EM surveys to support 2026 drill planning.