SLAM Reports Copper, Nickel and Cobalt Assays and Extends Farquharson Zone Strike Length to 360 Meters at Goodwin

Rhea-AI Summary

SLAM (OTC:SLMXF) released assay results from the first three holes of its 2025 Goodwin diamond drilling campaign in New Brunswick on December 3, 2025. Key intercepts include 2.40% CuEq over 4.50 m in GW25-16 and 0.97% CuEq over 48.00 m in GW25-17, using assumed 90% recoveries and metal prices dated November 29, 2025. The company completed 10 holes totaling 2,603 m, with one hole on the Granges Zone and nine on the Farquharson Zone. The Farquharson Zone strike was extended to 360 m and remains open in both directions. The company is requesting quotes for airborne and down-hole EM surveys ahead of 2026 drilling. Reported lengths are drilled core intervals; true widths are undetermined.

Positive

• Intercept of 2.40% CuEq over 4.50 m in GW25-16
• Intercept of 0.97% CuEq over 48.00 m in GW25-17
• Completed 10 holes (2,603 m) in 2025 Goodwin campaign
• Farquharson strike extended to 360 m and open both directions
• Company seeking airborne and down-hole EM surveys for 2026

Negative

• True widths not determined, limiting immediate resource interpretation
• CuEq uses assumed 90% recoveries and Nov 29, 2025 metal prices, which may change economics
• Only first three hole assays released; rest of campaign results pending

Key Figures

Copper Eq. interval: 2.40% over 4.50 meters Copper Eq. interval: 0.97% over 48.00 meters Drilling campaign holes: 10 holes +5 more

8 metrics

Copper Eq. interval 2.40% over 4.50 meters Hole GW25-16, Granges Zone highlight

Copper Eq. interval 0.97% over 48.00 meters Hole GW25-17, Farquharson Zone highlight

Drilling campaign holes 10 holes 2025 Goodwin drilling campaign

Total drilling length 2,603 meters 2025 Goodwin drilling campaign total NQ core

Farquharson strike length 360 meters Farquharson Zone strike extended and open in both directions

Copper equivalent recovery 90% Assumed mill recoveries for Cu Eq% calculations

High-grade Cu Eq. 4.12% Cu Eq GW25-16 interval 10.63–11.15 meters

Gold grade 11.10 ppm GW25-16 interval 10.63–11.15 meters

Market Reality Check

Price: $0.0800 Vol: Volume 900 is well below ...

low vol

$0.0800 Last Close

Volume Volume 900 is well below the 20-day average of 9,925, suggesting limited pre-news participation. low

Technical Price 0.0866 is trading above the 200-day MA of 0.02, indicating a longer-term uptrend into this news.

Peers on Argus

While SLMXF showed a -3.78% move, peers were mixed: VAUCF and GSTMF were up, ORF...

While SLMXF showed a -3.78% move, peers were mixed: VAUCF and GSTMF were up, ORFDF and RYES were down, and OSCI was flat. This points to stock-specific dynamics rather than a uniform sector move.

Market Pulse Summary

This announcement detailed new assay results from the 2025 Goodwin drilling campaign, including Cu-e...

Analysis

This announcement detailed new assay results from the 2025 Goodwin drilling campaign, including Cu-equivalent grades up to 2.40% over 4.50 meters and a Farquharson Zone strike length of 360 meters. The company completed 10 NQ core holes totaling 2,603 meters and is planning additional geophysical work ahead of the 2026 program. Investors may track future assay releases, updated interpretations of mineralization, and any changes in exploration scope or timelines.

Key Terms

copper equivalent, ppm, utm, electromagnetic surveys, +4 more

8 terms

copper equivalent technical

"Highlights include:2.40% copper equivalent over 4.50 meters..."

Copper equivalent is a single, standardized number that converts the value of all metals in a mineral deposit into the equivalent amount of copper, using current metal prices and processing recoveries. Think of it as putting different coins into one currency so you can compare the total worth at a glance; investors use it to assess and compare the economic attractiveness of mining projects and expected revenue per unit of ore.

ppm technical

"Gold ppm | Silver ppm | Cu Eq %"

Parts per million (ppm) is a unit that expresses how many units of a substance exist in one million units of a mixture or material — imagine one drop of dye spread through an Olympic-sized pool to picture a very small concentration. Investors watch ppm readings because regulatory limits, product contamination, pollutant emissions or chemical residues often use this scale; small numeric changes can mean compliance problems, remediation costs, production shutdowns or reputational risk that affect a company’s value.

utm technical

"Hole_ID | East_UTM | North_UTM | Elev | Az | Dip | Length_m"

UTM stands for Urchin Tracking Module and refers to small tags added to the end of a web link that tell analytics tools where visitors came from and which campaign brought them. For investors, UTM tags help companies show which press releases, emails or ads drove traffic and engagement, like a return address on a postcard that reveals what marketing efforts are working and where to focus resources.

electromagnetic surveys technical

"quotes from geophysics contractors for airborne and down-hole electromagnetic surveys"

Electromagnetic surveys are a field technique that sends and measures electromagnetic signals to map what’s underground, detecting differences in how rocks and materials conduct electricity. For investors, these surveys are a way to spot likely mineral or fluid-bearing zones without drilling — like using a metal detector across a large yard — so positive results can raise the chances a property contains valuable resources while negative or ambiguous results can reduce its prospectivity.

qa-qc technical

"QA-QC Procedures: Core was collected from the drill..."

Quality assurance and quality control (QA-QC) are the combined practices a company uses to make sure its products, services, or data consistently meet required standards; quality assurance sets the processes and rules, while quality control checks individual outputs against those rules. For investors, strong QA-QC reduces the risk of costly recalls, regulatory fines, or reputational damage and signals reliable operations and predictable earnings—think of it as the recipe and taste-test that keep a restaurant serving safe, consistent meals.

over-limit technical

"Samples returning over-limit results (greater than 1%) for the UT7..."

Over-limit describes a trade or order that goes beyond a rule-based cap — for example a price band, daily movement limit, or position cap set by an exchange or regulator. It matters to investors because such orders can be rejected, delayed, or trigger trading halts and increased scrutiny, affecting whether and when a trade is executed and signaling unusual volatility or concentration risk — like trying to drive past a roadblock that forces traffic to stop or reroute.

assay technical

"announce assay results from the first three of ten holes..."

An assay is a laboratory test that detects or measures how much of a specific substance is present or how well something performs, like measuring a drug’s concentration, a material’s purity, or a biomarker’s level. For investors, assay results act like a thermometer or quality check: they provide objective evidence about a product’s effectiveness, safety, or manufacturing consistency, and can strongly influence regulatory approval, market acceptance, and company valuation.

multi-element analysis technical

"Actlabs will perform multi-element analysis using assay method UT7."

A laboratory method that measures the amounts of many chemical elements—like metals or minerals—in a single sample at once, similar to a nutrition label that lists several nutrients together. Investors care because the results affect how valuable or risky an asset is: they inform mineral resource estimates, product safety and compliance, environmental liabilities, and the likelihood of costly cleanup or regulatory action.

AI-generated analysis. Not financial advice.

Drilling For Critical Elements In The Mineral-Rich Province Of New Brunswick, Canada

MIRAMICHI, NB / ACCESS Newswire / December 3, 2025 / SLAM Exploration Ltd. (TSXV:SXL) ("SLAM" or the "Company") is pleased to announce assay results from the first three of ten holes drilled in the 2025 diamond drilling campaign on its wholly owned Goodwin claims, located 35 kilometers southwest of the Caribou Mine in the mineral-rich Bathurst Mining Camp of New Brunswick.

Highlights include:

• 2.40% copper equivalent over 4.50 meters in hole GW24-16 on the Granges Zone; and

• 0.97% copper equivalent over 48.00 meters in hole GW-17 on the Farquharson Zone.

The copper equivalent values assume mill recoveries of 90%. Selected results are tabled below:

Hole Number	From M	To M	Length Meters	Copper %	Nickel %	Cobalt %	Gold ppm	Silver ppm	Cu Eq %
GW25-16	10.63	11.15	0.52	1.90	1.36	0.12	0.21	11.10	4.12
GW25-16	72.00	73.00	1.00	1.44	0.30	0.02	0.07	10.00	1.96
GW25-16	77.50	80.68	3.18	0.39	0.81	0.05	0.06	4.73	1.60
GW25-16	69.50	80.68	11.18	0.45	0.36	0.03	0.10	4.73	1.11
GW25-16	124.50	125.90	1.40	1.59	0.59	0.05	0.06	10.20	2.53
GW25-16	124.50	129.00	4.50	0.97	0.96	0.07	0.04	5.66	2.40
GW25-17	98.00	135.50	37.50	0.50	0.43	0.04			1.11
GW25-17	98.00	146.00	48.00	0.44	0.37	0.04			0.97
GW25-17	160.40	165.50	5.10	0.51	0.17	0.02			0.72
GW25-18	46.75	62.50	15.75	0.56	0.10	0.01			0.66
GW25-18	103.90	117.40	13.50	0.50	0.11	0.01			0.62

Copper equivalent (Cu Eq%) values are "recovered grades" with assumed recoveries of 90% and calculated using copper, nickel, cobalt, silver and gold prices published November 29, 2025 on the website Daily Metal Price. The lengths are drilled core intervals. True widths have not been determined.

Hole_ID	East_UTM	North_UTM	Elev	Az	Dip	Length_m
GW2516	697208	5238922	447	115	-70	308
GW2517	698053	5238576	490	45	-70	452
GW2518	698036	5238616	483	42	-70	170

Figure 1 DDH GW125-16 From 124 to 130 Meters

The Company completed 10 holes of NQ size core drilling for a total of 2,603 meters in the 2025 Goodwin drilling campaign. This included one hole on the Granges Zone and nine holes on the Farquharson Zone. The strike length of the Farquharson Zone was extended to 360 meters and is open in both directions as shown on Figure 2.

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

The Company has requested quotes from geophysics contractors for airborne and down-hole electromagnetic surveys, to be conducted in preparation for the 2026 drilling campaign at Goodwin.

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 will perform 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. is working on an indicated resource estimated at 922,000 oz at a grade of 2.31 g/t gold plus an inferred resource of 1,334,000 oz 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 2025. 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 SLAM (SLMXF) report on December 3, 2025 from the Goodwin drilling campaign?

SLAM reported assays including 2.40% CuEq over 4.50 m (GW25-16) and 0.97% CuEq over 48.00 m (GW25-17) and said the Farquharson Zone strike is extended to 360 m.

How much drilling did SLAM complete at Goodwin in 2025 and how many holes were drilled?

The company completed 10 NQ core holes totaling 2,603 m during the 2025 campaign.

Are the reported assay intervals from SLAM (SLMXF) true widths or drilled lengths?

Reported intervals are drilled core lengths; the company stated that true widths have not been determined.

What assumptions underlie the copper equivalent (CuEq) values SLAM reported for Goodwin?

CuEq values are "recovered grades" assuming 90% recoveries and metal prices published on November 29, 2025.

What follow-up work did SLAM say it is planning after the 2025 Goodwin drill program?

SLAM requested quotes for airborne and down-hole electromagnetic surveys to prepare for the 2026 drilling campaign.