SLAM Congratulates New Brunswick on Top Ranking

New Brunswick Tops Fraser Institute's Annual Survey of Top Mining Jurisdictions

TSXV: SXL   US-OTC: SLMF

MIRAMICHI, NB, Feb. 28, 2012 /CNW/ - SLAM Exploration Ltd. (TSXV: SXL) (US-OTC: SLMF) ("SLAM") is pleased to congratulate the Honourable Bruce Northrup, Minister of Natural Resources and the staff at Natural Resources  for New Brunswick's number one ranking among global mining and exploration jurisdictions in an annual survey by the prestigious Fraser Institute. The Fraser Institute announced February 23, 2012 that New Brunswick is the world's most attractive jurisdiction for mineral exploration and development in the view of the international mining industry, as documented in the Survey of Mining Companies: 2011/2012 .

"New Brunswick shot to the top of the rankings as miners lauded the province for its fair, transparent, and efficient legal system and consistency in the enforcement and interpretation of existing environmental regulations," said Fraser Institute international policy research VP Fred McMahon, who coordinated the survey.

SLAM  CEO, Mike Taylor is not surprised at the number one ranking.  "New Brunswick has always been a favorable place for exploration but they have made strides in recent years to make it an even better environment. Favourable policies combine with a wealth of mineral potential to make it our primary target for mineral exploration and development. "

SLAM has a huge land package comprising a very attractive portfolio of projects in New Brunswick. These include an exciting new gold discovery at Saint Quentin and the Goodwin nickel-copper-cobalt project where a drilling program is in progress. A NI 43-101 compliant resource estimate is pending on the Nepisiguit volcanogenic massive sulphide (VMS) deposit where SLAM recently drilled 70 holes near the world-class BMS No. 12 mine operated by Xstrata. In addition, SLAM owns the Nash Creek lead-zinc-silver deposit which already has defined a NI 43-101 compliant resource.

The Fraser Institute is an independent research and educational organization with locations throughout North America, and international partners in over 80 countries. Its stated mission is to measure, study, and communicate the impact of competitive markets and government interventions on the welfare of individuals. Its ranking of mineral jurisdictions is based upon an annual survey of mining executives from over 800 mining and exploration companies.

About SLAM Exploration Ltd:

SLAM is a mineral resource company based in Miramichi, New Brunswick and has a resource estimate pending on its wholly owned Nepisiguit copper-lead-zinc-silver deposit in New Brunswick.  A drilling program is in progress on SLAM's wholly owned Goodwin Lake nickel-copper-cobalt deposit only 5km from Trevali's Halfmile Mine. The Company owns a significant gold portfolio including the NW Gold project with a new gold discovery in New Brunswick and the Reserve Creek gold deposit in Ontario. 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; Toll Free: 855.800.6109
Toronto: 647.729.1436

info@slamexploration.com


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