Slam Acquires Three New Antimony Showings in Bathurst Mining Camp
Rhea-AI Summary
SLAM Exploration (OTC:SXLXF) entered an option agreement dated March 30, 2026 to acquire the Moose Lake antimony project, adding to its contiguous Slacks Lake holdings to cover 3,567 hectares in New Brunswick's Bathurst Mining Camp.
Previous work reported grab samples up to 4.32% antimony and 0.894 g/t gold. Consideration to earn 100% is CAD $80,000 and 600,000 shares over three years; a 2% NSR remains, with a 1% buyback for $1,000,000. SLAM also proposes a one-year extension for 2,700,000 warrants exercisable at $0.05, subject to TSXV approval.
AI-generated analysis. Not financial advice.
Positive
- 3,567 hectares of contiguous, road-accessible claims in Bathurst Mining Camp
- Historic grab samples up to 4.32% antimony and 0.894 g/t gold
- Earn-in terms require only CAD $80,000 cash plus 600,000 shares over three years
Negative
- 2% NSR retained by Optionor on the Moose Brook claims
- 600,000 shares issuable and 2,700,000 warrants outstanding may dilute shareholders if issued/exercised
Gold and Critical Elements in the Mineral-Rich Province of New Brunswick, Canada
MIRAMICHI, NB / ACCESS Newswire / April 7, 2026 / SLAM Exploration Ltd. (TSXV:SXL) ("SLAM" or the "Company")is pleased to announce it has acquired the Moose Lake antimony project through an option agreement signed March 30, 2026. The project comprises 2 separate claims with three antimony showings that grade up to
The Moose Lake project covers the Moose Lake, Stewart and Skull antimony gold showings all discovered in 1986. At Skull, trenches dug by previous workers uncovered a highly silicified breccia zone with grab samples ranging up to
Figure 1 Antimony Occurrences, Airborne EM Conductors, Airborne Resistivity
Previous workers reported grab samples ranging up to
The Stewart showing (NBDNRE 795) is located 4,700 meters southeast of the Skull antimony occurrence. Previous workers trenched an area 60 m by 20 m and chip samples were taken over widths from 0.4 to 1.5 meters with a maximum value of
Several antimony till anomalies occur southeast of the Stewart showing as shown on Figure 2. These anomalies are located on claim 11731 which is wholly owned by SLAM. The Company intends to explore these anomalies in addition to the newly acquired antimony showings in 2026.
Figure 2 Antimony Showings, Till Anomalies, Aeromagnetic Anomalies
The Stewart, Moose Lake and Skull antimony showings are numbered 795, 796 and 797 in the Mineral Occurrence Database of the New Brunswick Department of Natural Resources and Energy ("NBDNRE"). The initial discovery and exploration is discussed in Assessment Report 473436, "Report of Geology, Geochemistry and Geophysics, Slacks Lake Property, Falconbridge Ltd." by Richard Cote, 1987.
To acquire the claims, the Company entered into an arm's length option agreement with prospectors (the "Optionors") on March 30, 2026 (the "Agreement"), to acquire a
Due Date | Share Payments | Cash Payment |
Within 5 days of TSXV approval Exchange | 100,000 | |
On or before 1st anniversary of the Agreement | 120,000 | |
On or before 2nd anniversary of the Agreement | 140,000 | |
On or before 3rd anniversary of the Agreement | 240,000 | |
Total | 600,000 |
Upon SLAM earning
The Agreement and proposed share issuances remain subject to approval by the TSX Venture Exchange. All security issuances will be subject to a statutory hold period of four (4) months and one (1) day from issuance in accordance with Canadian securities laws. No finders' fees were paid on this Agreement.
Warrant Extension: The Company also announces that it plans for a one (1) year extension (the "Warrant Extension") to extend the expiry dates of 2,700,000 share purchase warrants (the "Warrants"), originally granted pursuant to a private placement that closed in two (2) tranches on April 25, 2024 and May 22, 2024 (the "Amended Warrants").
The Company is in the process of distributing written consents to the warrant-holders and anticipates receiving the executed consents by the end of next week. The Amended Warrants will be exercisable until April 25, 2027 (instead of April 26, 2026) and May 22, 2027 (instead of May 22, 2026). Each Amended Warrant will entitle the holder to acquire one common share at a price of
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
The Company discovered a new gold vein at Jake Lee in 2025 and recently reported up to 40.5 g/t gold and 63.30 g/t silver from channel samples cut from the vein. A 200 meter by 400 meter soil anomaly with gold grading up to 0.98 g/t gold lies adjacent to the east and north of the new gold vein. 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").
The Company reported an expansion of the soil coverage on the Menneval gold project on January 7, 2026. A gold soil anomaly extends approximately 3,000 meters by 2,500 meters with gold-bearing samples ranging from 0.005 grams per tonne ("g/t") to 0.683 g/t gold. The results indicate potential extensions to a swarm of quartz veins previously discovered by SLAM. The Company previously reported core intervals include 3,955 g/t gold over 0.1m from the No. 18 vein (December 03, 2020), as well as 162.5 g/t gold over 0.2 m (December 13, 2021) and 56.90 g/t gold over 0.5 m (November 22, 2022) from the Maisie vein.
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
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 Moose 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