Private Placement

SLATER MINING CORPORATION

920 – 1030 West Georgia Street Vancouver, BC, V6E 2Y3 Telephone: +1 604 638 2545

NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

PRIVATE PLACEMENT

Vancouver, BC, June 21, 2011 – Slater Mining Corporation (the "Company") [TSX-V: SMC] Subject to the approval of the Exchange, the Company intends to complete a non-brokered private placement (the "Private Placement") of up to 2,500,000 common shares at $0.40 per share for aggregate gross proceeds of up to $1,000,000. Up to 625,000 of the common shares issued under the offering will be issued on a flow-through basis, and up to 1,875,000 of the common shares issued under the offering will be issued on a non-flow-through basis. All of the common shares issued under the Private Placement will be subject to a hold period of four months and one day from the date of issuance. The proceeds of the Private Placement will be used for general working capital purposes. The Company may pay finder's fees to arm's length parties in an amount equal to 5% of the proceeds raised under the Private Placement payable, at the discretion of the Company, in cash or in common shares at a price of $0.40 per share.

Neither 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

For further information, contact:

Ian Slater

Chief Executive Officer

This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.

008105000-00086902; 1