SLAM Closes Private Placement

Not for Distribution to U.S. Newswire Services or for Dissemination in the United States

MIRAMICHI, New Brunswick, May 04, 2023 (GLOBE NEWSWIRE) -- SLAM Exploration Ltd. (TSXV: SXL) (the “Company” or “SLAM”) announces that it has closed a private placement of 6,055,000 units (the “Units”) at a price of $0.05 per Unit for gross proceeds of $302,750.00 (the “Private Placement”). Each Unit is comprised of one common share in the capital of the Company and one common share purchase warrant (the “Warrant”). Each Warrant will entitle the holder thereof to acquire one common Share at a price of $0.08 for a period of 24 months from the date of issuance. The Units are subject to a statutory hold period of four months and one day which will expire on September 5, 2023.

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