SLAM COMPLETES DRILLING AT SILVERJACK

Widespread Copper, Lead, Zinc and Silver Mineralization

MIRAMICHI, NB, Feb. 18 /CNW/ - SLAM Exploration Ltd. (TSX-V:SXL) ("SLAM") announces it has completed a  drilling program  on its Silverjack property in New Brunswick with a total of 2884m drilled in 22 holes. After Silverjack the drill was moved to Nash Creek.

The final 2 holes at Silverjack were SJ11-41 and 42 drilled near the Doyle copper-silver occurrence. SJ11-41 intersected 4 zones containing sulphides and copper mineralization over drill core intervals ranging from 0.3 to 1.33m, the latter at a depth of 108.1m. Assays are pending on these copper intercepts. This hole is beneath a trench dug by previous workers. During the 2010 prospecting program, SLAM collected 2 grab samples from rubble beside the trench that assayed 8.67% copper with 171 g/t silver and 4.99 % copper with 150 g/t silver respectively.

A 2500m long aeromagnetic trend is associated with this copper zone. It occurs within sediments and limestones similar to the Silverjack deposit 1,000m to the east where SLAM previously reported high grade drilling results ranging up to 653 g/t (19.05 oz/ton) silver, 2.69% copper, 11.9% zinc and 9.8% lead (news release 16 February, 2010). Both the Doyle and Silverjack zones are historic occurrences acquired through agreements with prospectors.

Holes SJ10-32 to SJ11-38 were drilled to test for potential extensions up to 1600m south of the Silverjack zone. These holes intersected limestones and sediments with local zones of lead-zinc mineralization. The most significant intercepts were in hole SJ11-38 with individual samples ranging up to 12.36% lead-zinc over 0.3m and anomalous intervals up to 0.75% lead-zinc over 18.7m. Holes SJ11-35, 39 and 40 tested a copper occurrence discovered in the 2010 prospecting program. Hole SJ11-35 intersected 5.23% copper, 42 g/t silver and 1330 g/t cobalt over 0.3m.

The significant grades combined with multiple occurrences over a large area suggest the presence of a large scale mineralized system. The Company plans additional trenching and drilling in 2011 to test for extensions to high grade silver, copper, lead and zinc mineralization at both the Silverjack and Doyle occurrences.

Mike Taylor, P.Geo. President & CEO is the Qualified Person responsible for the technical information contained herein. Drill cores were delivered from the drill to a secure site for logging and sampling. Selected drill cores were split or sawn and one half sent to Activation Laboratories. Activation Labs analyzed the samples using code 8AR for silver, copper, zinc, lead and code Ultratrace 2 for multi-elements on selected samples. The Company used blank and standard samples for quality assurance and control.

About Silverjack:
The recently expanded Silverjack property comprises 160 wholly owned mineral claims plus 13 claims under option for a total of 3715 hectares. The property is 4 kilometres from the Belledune smelter and seaport and is adjacent to SLAM's Nash Creek property comprised of 406 mineral claims covering 6,496 hectares. The Company has been awarded a provincial grant of $35,000 under the New Brunswick Junior Mining Assistance Program to support this drilling program. Additional information about Silverjack can be viewed at: www.slamresources.com/projects/new-brunswick/silverjack.

About SLAM Exploration Ltd:
SLAM is a mineral resource company based in Miramichi, New Brunswick and is actively exploring for gold in Ontario and silver-copper-lead-zinc in New Brunswick. Additional information about SLAM and its projects is available at www.slamexploration.com or from SEDAR filings at www.sedar.com.

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.

On behalf of the Board

Mike Taylor, P. Geo.
President & CEO
SLAM Exploration Ltd.
SEDAR: 00012459E

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an 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. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical fact, that address future production, reserve potential, exploration and development activities and events or developments that SLAM expects, are forward-looking statements. Although management 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 the forward looking statements. Please see our public filings at www.sedar.com for further information.

SOURCE SLAM EXPLORATION LTD.

For further information:

SLAM Exploration Ltd.
Brian Jones, Investor Relations; Toronto: 647-729-1436
info@slamexploration.com  


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.