SLAM Exploration Flying Airborne Survey Over Gold Projects

To Produce High Resolution Data For Reserve Creek, Opikeigen and Miminiska Gold Properties

TSXV: SXL   US-OTC: SLMF

MIRAMICHI, NB, May 12 /CNW/ - SLAM Exploration Ltd. (TSXV: SXL) (US-OTC:SLMXF) ("SLAM") has contracted for a high resolution airborne magnetic survey to start immediately over its wholly owned Reserve Creek Gold Property, the Opikeigen gold joint venture with Beatrix Ventures Ltd. (TSX:BXV)  and the Miminiska property recently optioned to Namex Explorations Inc. (TSXV: NME) (trading status pending).

Geotech Ltd has been contracted to fly a total of 1490 line km of helicopter-borne aeromagnetics at 100 m spacing over three gold properties near Fort Hope Ontario later this month.  The 3 axis Airborne Magnetic Gradiometer will provide very high resolution gradiometer data.  This high resolution data will aid geologists in choosing drill targets and to further delineate gold-bearing rock units.

The survey will be broken down to 661 km over Reserve Creek property, 515 km over Opikeigen property and 315 km over Miminiska property. The Opikeigen survey will be cost-shared with joint venture partner Beatrix and the Miminiska survey will be funded by Namex. These projects produced significant gold results in the 2010 drilling campaign including 16.45 g/t gold over 16.85 m at Reserve Creek and 64 g/t gold over 1.0 m at Miminiska. All 4 holes at Opikeigen intersected gold mineralization including 5.05 g/t over 2.3 m and 12.7 g/t over 0.5 m.

The aeromagnetic survey will be followed by a drilling program at Reserve Creek and Opikeigen scheduled to start in early June. With over $3.5M in its treasury, SLAM expects to be very active on the drilling front for the remainder of 2011. In addition to the gold projects, work continues on SLAM's wholly owned Nash Creek silver-lead-zinc deposit.

About Geotech Ltd:

The 3-axis Airborne Magnetic Gradiometer by Geotech will provide very high resolution gradiometer data. This system is based on proven Geometrics high resolution optically-pumped magnetic sensors. It is the world's only true 3-axis helicopter gradiometer (Four high sensitivity caesium total magnetic field sensors; spacing: 3.68 m - vertical and horizontal).

About SLAM Exploration Ltd:

SLAM is a mineral resource company based in Miramichi, New Brunswick and is exploring 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:

SLAM Exploration Ltd.
Brian Jones, Investor Relations; Toll Free: 855.800.6109
Toronto: 647.729.1436

info@slamexploration.com


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