SLAM Expands Gold Zone With Additional Diamond Drill Holes
Visible Gold In Hole MG1221
MIRAMICHI, NEW BRUNSWICK, Dec 28, 2012 (Menafn - MARKETWIRE via COMTEX) --SLAM Exploration Ltd. ("SLAM") ispleased to report preliminary results for 9 additional diamond drillholes completed at its wholly owned Menneval gold project in NewBrunswick. Holes MG1215 to MG1223 all intersected a mineralizedquartz vein at hole depths ranging from 6 m to 29 m. The drilledthickness of the vein intercepts range from 0.1 m to 0.5 m.
Assays are pending on holes MG1201 to MG1223. A small fleck ofvisible gold occurs in a 0.2 m core interval of quartz veinintersected at a depth of 15.9 m in hole MG1221. This gold-bearinghole is located 250 m west of hole MG1201 which also contains visiblegold close to the original discovery site of the Maisie zone. Thecollar data is summarized in the following table:
Hole_IDGrid m EGrid m NDipAzimuthDepth m
After MG1223, the drilled moved 200 m east to line 4360E for holeMG1224, a 20 m step-out designed to test the zone between MG1206 andMG1201. The 50 hole drilling program continues to trace the MaisieZone on a pattern designed to delineate a potential near surfaceresource that would be amenable to open pit mining methods. A 40 x 20m grid has been established to provide spatial control for thedrilling sites. The target vein and control grid are shown on a mapat http://www.slamresources.com/projects/new-brunswick/menneval. TheCompany reported numerous sites of visible gold and bonanza gradeassays uncovered as it traced the vein system over a 700 m strikelength.
Qualifying Statements: SLAM Project Manager Sara Lloyd, P.Geo. is theQualified Person responsible for the technical information containedherein. Samples were sent to Actlabs in Ancaster, Ontario to analyzeby fire assay with AA finish followed by fire assay with gravimetricfinish for gold values above 3.0 g/t.
About The Menneval Project: SLAM holds 100% interest in 18 contiguousclaims covering 30,820 hectares all acquired by map-staking nearMenneval in northwest New Brunswick. Four (4) of the claims covering692 hectares are subject to a 1.5% NSR. SLAM can buy down 0.5% NSRfor C0.5M and has right of first refusal on remaining 1%. Theextensive property hosts a number of new gold discoveries includingthe Maisie zone. It also covers 3 previously discovered silver-basemetal skarn deposits where exploration programs date back to 1965.
About SLAM Exploration Ltd.:
SLAM is a mineral resource company based in Miramichi, New Brunswickand is actively exploring new gold discoveries on its Mennevalproject in northwestern New Brunswick. In addition, the Company ownsthe Nepisiguit and Nash Creek silver-base metal deposits, both NI43-101 compliant and located in New Brunswick. The Company also ownsa significant gold portfolio in Ontario including the Reserve Creekgold deposit. Additional information about SLAM and its projects isavailable at www.slamexploration.com or from SEDAR filings atwww.sedar.com. Follow us on twitter @SLAMGold.
On behalf of the Board
Mike Taylor, P. Geo., President & CEO
This news release does not constitute an offer to sell or asolicitation of an offer to sell any of securities in the UnitedStates. The securities have not been and will not be registered underthe United States Securities Act of 1933, as amended (the "U.S.Securities Act") or any state securities laws and may not be offeredor sold within the United States or to U.S. Persons unless registeredunder the U.S. Securities Act and applicable state securities laws oran exemption from such registration is available.
This release includes certain statements that may be deemed to be"forward-looking statements" within the meaning of the U.S. PrivateSecurities Litigation Reform Act of 1995. All statements in thisrelease, other than statements of historical fact, that addressfuture production, reserve potential, exploration and developmentactivities and events or developments that SLAM expects, areforward-looking statements. Although management believes theexpectations expressed in such forward-looking statements are basedon reasonable assumptions, such statements are not guarantees offuture performance, and actual results or developments may differmaterially from those in the forward looking statements. Please seeour public filings at www.sedar.com for further information.
Neither TSX Venture Exchange nor its Regulation Services Provider (asthat term is defined in the policies of the TSX Venture Exchange)accepts responsibility for the adequacy or accuracy of this release.
SLAM Exploration Ltd.
Mike Taylor, P. Geo.
President & CEO
506-627-1353 or Toll Free: 866.523.6719
SOURCE: Slam Exploration Ltd.
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