SLAM completes $325,000 financing


MIRAMICHI, NB, April 5 /CNW/ - SLAM Exploration Ltd. (TSX-V: SXL) ("SLAM") announces the completion of the first tranche of a non-brokered private placement for aggregate proceeds of $325,050 consisting of 3,334,000 flow-through units at a price of $0.075 per flow-through unit for total gross proceeds of $250,050 and 1,000,000 regular units at a price of $0.075 per regular unit for total gross proceeds of $75,000. Each flow-through unit consists of one common share issued on a flow-through basis and one-half of one common share warrant ("Series A Warrant"). Each whole Series A Warrant entitles the holder to acquire one non-flow-through common share at a price of $0.10 per share for a period of 12 months and at a price of $0.20 for an additional 12 months thereafter, expiring 24 months after issuance. Each regular unit is comprised of one common share and one share purchase warrant ("Series B Warrant"). Each Series B Warrant entitles the holder to acquire one non-flow-through common share at a price of $0.10 per share for a period of 24 months. This private placement remains subject to final approval of the TSX Venture Exchange.

Norstar Securities LP placed 2 million of the flow-through units. Norstar received a cash fee of $10,500 and was issued 140,000 Finder Warrants to acquire one finder unit. Each finder unit consists of one common share and one-half of one Series A Warrant. All securities issued in the private placement are subject to a resale restriction of four months from closing.

SLAM directors purchased 10% of the flow-through units. SLAM expects to close the final tranche in early April. For further information about this private placement, call Mike Taylor at 506-627-1353 or toll-free 866-523-6719. Proceeds of the private placement will be used to fund mineral exploration mainly on SLAM's Silverjack project but may also be used for its other base metal, rare earth and gold projects in New Brunswick and Ontario.

About Norstar Securities LP

Norstar is an independent Toronto based investment dealer. Norstar provides corporate advisory services to small cap companies, and is focused on the junior resource sector and various special situations.

SLAM is a mineral resource company based in Miramichi, New Brunswick. The Company continues to be active in gold and base metal exploration in Ontario and New Brunswick and has recently reported rare earth minerals at Nash Creek. 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 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 the Company 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.

%SEDAR: 00012459E


For further information: For further information: Corporate Inquiries: Mike Taylor, President & CEO, (506) 627-1353, Toll Free: 866-523-6719,

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