Diamond Drill Cores Grade Up To 9.6 g/t Gold Over 1.5 m

MIRAMICHI, NB, Jan. 13 /CNW/ - SLAM Exploration Ltd. (TSX-V:SXL) ("SLAM") SLAM Exploration is pleased to announce that drilling continues to expand the known mineralization with significant widths and grades of gold mineralization in the first 3 of 9 holes recently drilled at its wholly owned Reserve Creek gold project in the Fort Hope gold areas of Ontario. All 3 holes intersected significant gold-bearing intervals ranging up to 9.6 g/t gold over 1.5 m. Hole RS10-18 cut a 10.3 m core interval grading 3.3 g/t gold at a depth of 29.5 m. Selected assay results are tabulated as follows:

Hole ID   From m   To m   Length m   Au oz/t   Gold g/t
RS1017   18.2   19.7   1.5   0.08   2.85
RS1017   18.2   28.7   10.5   0.03   0.99
RS1018   29.5   31   1.5   0.28   9.62
RS1018   35.7   36.3   0.6   0.18   6.23
RS1018   36.8   37.8   1   0.21   7.22
RS1018   29.5   39.8   10.3   0.10   3.31
RS1019   53.3   53.8   0.5   0.20   6.73
RS1019   59.6   60.7   1.1   0.09   3.01
RS1019   61.2   61.8   0.6   0.12   4.07
RS1019   52.8   64   11.2   0.04   1.49
RS1019   71.5   76   4.5   0.03   1.12

The core intervals described are drilled intervals. True thicknesses are unknown. Holes RS10-17, 18 and 19 were drilled at angles of 45, 60 and 70 degrees from one site 15 m east of hole RS10-16 drilled in June 2010. Hole RS10-16 cut a 16.85 m core interval grading 16.45 g/t gold and  contains individual samples of bonanza gold grading up to 274 g/t gold over 0.5 m (news release 17 August 2010).

Assays are pending on an additional 350 samples representing mineralized intercepts from the remaining 6 holes. Visible gold was noted in 3 of these 6 holes including a site of visible gold in hole RS10-21 noted after core was sawn. Drillers are expected to arrive in Fort Hope on Friday January 14 and to resume drilling by Monday.

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 encompasses 4608 hectare block of 22 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 the Fort Hope area 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.

Reserve Creek drilling activities are progressing in consultation with Eabametoong First Nation ("EFN") in accordance with a recently signed 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 or from SEDAR filings at

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 for further information.


For further information:

SLAM Exploration Ltd.
    Head Office 506.627.1353 Toll Free: 866.523.6719
    Brian Jones, Investor Relations; Toronto: 647-729-1436
    Mike Taylor, President & CEO

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