Retains Investor Relations Agent
MIRAMICHI, NB, Dec. 31 /CNW/ - SLAM Exploration Ltd. (TSX-V:SXL) ("SLAM") is pleased to announce it has signed an agreement to retain Brian Jones for the provision of investor relations services for a 12 month period starting 01 January 2011. Mr. Jones will interact with a broad spectrum of investors, brokers, fund managers and other investment professionals directly and through various media channels to enhance the profile of the Company with particular focus on drilling results from the Reserve Creek Gold project and the Silverjack project. In a press release of 17 August 2010, SLAM reported bonanza grades up to 274 g/t gold over 0.5 m within a 16.85 m core interval grading 16.45 g/t gold from a diamond drill hole at Reserve Creek. In December, the Company started a drilling program designed to extend the strike extent of the bonanza zone. Assays are pending on mineralized intervals from 9 holes drilled in the current program.
The Company will pay Mr. Jones a monthly retainer of $4,000 for a one-year term, and may renew the agreement by mutual consent. SLAM will also grant 100,000 incentive stock options to Mr. Jones, exercisable at a price of $C 0.20 for a period of five years, subject to regulatory approvals. The options vest in increments of 25,000 every three months and are exercisable at a price of $0.20 per share for a period of five years. In the event of termination, the options expire 30 days thereafter.
Mr. Jones owns and operates his investor relations consulting business and is based out of Bracebridge, Ontario. Mr. Jones is arm's length to SLAM and has provided investor relations consulting and support to the resource sector for over 10 years. Mr. Jones does not currently own any securities of the SLAM.
Michael R. Taylor, P.Geo. President and CEO of SLAM, is the Qualified Person responsible for the technical information contained herein.
SLAM is a mineral resource company based in Miramichi, New Brunswick and is actively 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.
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.
For further information:
Mike Taylor, President & CEO
Toll Free: 866.523.6719