SLAM DRILLING MORE SIGNIFICANT GOLD INTERCEPTS

New Intercepts Include 14.9 m grading 7.33 g/t Gold

MIRAMICHI, NB, Feb. 15 /CNW/ - SLAM Exploration Ltd. (TSX-V:SXL, US-OTC: SLMXF) ("SLAM") is pleased to announce more high grade gold intercepts from the drilling program at its wholly owned Reserve Creek gold project in the Fort Hope area of Ontario. Hole RS11-26 cut a 14.9 m core interval grading 7.33 g/t including individual assays up to 21.33 g/t gold over 0.5 m.


Hole ID   From To   Length   Gold oz/t   Gold g/t
RS11-26       149.45   164.35 14.90 0.21 7.33
Includes   RS11-26 154.40 155.00 0.60 0.39 13.44
  RS11-26 155.00 156.00 1.00 0.53 18.26
  RS11-26 158.00 159.00 1.00 0.56 19.02
  RS11-26 162.00 162.50 0.50 0.62 21.33
  RS11-26 163.50 164.35 0.85 0.30 10.43
RS11-27   122.00 128.40 6.40 0.12 4.10

The core intervals described are drilled intervals.  True thicknesses are unknown. Hole RS11-26 and RS11-27 were drilled at dips of 57 and 45 to intersect the zone beneath and above hole RS10-25 respectively.

The Company has completed 10 additional holes with assays pending on 460 samples. All 10 holes contain intervals of mineralization and/or quartz veining. These intervals include 2 sites of visible gold in hole RS11-37. The Company is now drilling hole RS11-40 at a dip of 60 degrees collared 75 m behind hole RS10-24. This hole is designed to intersect the mineralized zone below the 200 m depth.

All drill cores were delivered from the drill sites to a facility in Fort Hope for logging and sampling. Selected cores were split or sawn with half retained for reference. Sampled halves were shipped to Accurassay in Thunder Bay for gold assay. Standards and blanks were inserted in the sample batches to augment the Quality Assurance and Quality Control program utilized by the laboratory. Michael R. Taylor, P.Geo. President and CEO of SLAM is the Qualified Person responsible for the technical information contained herein.

About Reserve Creek Gold Project:
SLAM's wholly owned Reserve Creek gold project now encompasses 7120 hectares in 34 mineral claims located near Fort Hope, Ontario. Reserve Creek is part of a large and valuable land package with an expanding inventory of gold deposits centered around Fort Hope approximately 150 km east of the former gold mining town of Pickle Lake. The large greenstone belt surrounding Fort Hope has many similarities to the prolific Red Lake gold mining camp and has potential to be a major gold producing area. The Red Lake, Pickle Lake and Fort Hope gold areas are part of the Uchi subprovince, a major system of greenstone belts extending from Lake Winnipeg to the Hudson Bay lowlands.

The Reserve Creek drilling activities have been accomplished in consultation with Eabametoong First Nation ("EFN") in accordance with a mutual Exploration Agreement. This Agreement calls for EFN and SLAM to work cooperatively to advance the gold potential of Reserve Creek and other SLAM projects in the Fort Hope area of Ontario.

About SLAM Exploration Ltd:
SLAM is a mineral resource company based in Miramichi, New Brunswick and is currently drilling for gold in Ontario and for 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:

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


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