SLAM Receives Shares and Cash to Close Property Sale Company To Focus On Gold

FOR  IMMEDIATE  RELEASE   May  26,  2016  

Miramichi,   New   Brunswick   -­‐   SLAM   Exploration   Ltd.   (TSXV:   SXL)   (the   “Company”)   is   pleased   to announce  it  has  received  the  initial  payment  of  300,000  shares  and  $100,000  cash  upon  closing  the  sale of  the  Superjack  and  Nash  base  metal  properties  to  Callinex  Mines  Inc.  (“Callinex”)  (TSXV:  CNX).    Under the  terms  of  the  agreement  announced  May  18,  2016,  the  Company  will  receive  a  total  of  $625,000  in cash   or   shares   over   a   3   year   period.     SLAM   will   receive   a   further   $125,000   in   cash   or   shares   upon completion   of   a   Preliminary   Economic   Assessment   on   the   Nash   property.     In   the   event   of   share payments,  they  will  be  issued  at  a  deemed  price  of  $0.50  per  share.

SLAM  retains  a  1%  NSR  royalty  on  the  Superjack  and  Nash  projects  subject  to  a  buy-­‐back  of  0.5%  NSR  for $500,000.    The  royalty  will  increase  by  0.25%  NSR  when  zinc  prices  exceed  US  $1.25  per  pound  and  an additional  0.25%  NSR  when  zinc  rises  above  US  $1.50  per  pound.

SLAM  CEO  Mike  Taylor  states:  “With  the  closing  of  this  agreement,  SLAM  can  focus  on  gold  and  move forward  with  a  bulk  sampling  program  on  the  Maisie  gold  deposit.    Callinex,  a  base  metal  company,  is positioned  to  advance  the  Nash  and  Superjack  base  metal  projects.”

About  Callinex Mines  Inc.:    Callinex  Mines  Inc.,  a  Canadian  mineral  exploration  company,  is  focused  on discovering  the  next  copper-­‐zinc  rich  VMS  mine  within  Manitoba’s  prolific  Flin  Flon  mining  district.  The Company’s  flagship  project  is  the  Pine  Bay  Project  which  hosts  significant  historic  VMS  deposits  that  are within  close  proximity  to  a  processing  facility.  The  Flin  Flon  district  has  yielded  more  than  145  million tonnes  of  production  from  32  mines.

About  SLAM  Exploration  Ltd:  

SLAM   Exploration   Ltd.   is   a   resource   company   focused   on   the   Menneval   gold   project   where   SLAM’s advance  scouting  team  discovered  the  Maisie  gold  deposit  in  2012.    The  Company  also  owns  the  Reserve Creek  and  Miminiska  gold  projects  in  Ontario  and  holds  a  royalty  on  two  base  metal  properties  in  New Brunswick.       Additional   information   about   SLAM   and   these   gold   projects   is   available   at www.slamexploration.com  or  from  SEDAR  filings  at  www.sedar.com.    Follow  us  on  twitter  @SLAMGold.

About   The   Menneval   Project:     SLAM   holds   100%   interest   in   12   contiguous   claims   that   cover   5,000 hectares   near   Menneval   in   northwest   New   Brunswick.     The   property   hosts   a   number   of   recent   gold discoveries  including  the  Maisie  deposit  and  Zone  9.    All  permits  are  in  place  to  allow  bulk  sampling  from the  Maisie  gold  deposit  during  the  summer  of  2016.

Qualifying   Statements:     Mike   Taylor,   P.Geo.   President   and   CEO   of   SLAM   Exploration   Ltd.,   as   the Qualified  Person,  approves  the  scientific  and  technical  disclosure  in  the  news  release.

Certain information in this press release may constitute forward-looking information, including statements that address the Private Placement, the closing of the Private Placement, future production, reserve potential, exploration and development activities and events or developments that the Company expects. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward- looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. There are a number of risk factors that could cause future results to differ materially from those described herein. Information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION:

Corporate Inquiries

Mike Taylor, President & CEO Contact: 506-623-8960 [email protected]

Eugene Beukman, CFO Contact: 604-687-2038 [email protected]