SLAM's Jake Lee Gold Discovery: High-Grade Mineralized Zones Confirmed In Active Exploration Camp

Major Channel Sampling Results Await Analysis As Multiple Mineralized Structures Surface In New Brunswick

SLAM Exploration Ltd. (TSXV:SXL) has wrapped up a significant phase of geological investigation at its wholly-owned Jake Lee project in southwestern New Brunswick, positioned 25 kilometers southeast of the Clarence Stream gold deposit. The company recently concluded systematic channel sampling operations on the primary mineralized quartz vein system, with lab work now underway to process 11 carefully extracted samples from bedrock exposures.

Gold-Bearing Vein System Demonstrates Consistent Grades

The exploration camp’s initial discovery of the No. 1 vein has already yielded impressive gold values, with grab samples ranging from 7.42 to 94.80 g/t gold since the July 2025 discovery announcement. The channel sampling methodology—where samples were cut directly from exposed rock faces—represents a more rigorous approach to defining mineralization continuity. These 11 channel samples, extracted from trench JT25-01, have been forwarded to Actlabs in Fredericton for multi-element analysis using fire assay and ICP techniques.

Expanding Mineralization Picture Across The Property

Beyond the primary vein, the exploration program has identified additional mineralized structures. Some 7,500 meters southwest of the No. 1 vein, another quartz vein system was uncovered alongside a previously identified quartz-carbonate zone, both occurring along the northern margin of a regional magnetic low—a structural feature interpreted as a potential deep fault system. Further southeast, copper-rich mineralization (chalcopyrite-bornite assemblages) was encountered in samples collected 1,600 meters from the main vein, suggesting either a separate copper-bearing structure or a lateral extension of known mineralization.

Funding Support And Enhanced Sampling Scope

The New Brunswick provincial government has awarded SLAM $45,000 through its Junior Mining Assistance Program to support 2025 exploration activities. This financial backing has enabled the expansion of the sampling program to include 52 additional grab samples from prospecting work along the vein trend, complementing the 11 channel samples currently under analysis at the laboratory. The quality assurance procedures followed industry standards, with direct sample delivery and multi-element assay protocols ensuring data reliability.

Broader Portfolio Context: Goodwin Project Delivers Base Metal Signals

SLAM’s presence in New Brunswick extends beyond Jake Lee. At the Goodwin copper-nickel-cobalt project in the Bathurst Mining Camp, the company executed a 10-hole diamond drilling program in 2025 following notable intercepts reported during 2024 operations. Previous drilling yielded significant base metal grades, including a 64.90-meter core interval averaging 2.19% copper-equivalent, with gold values up to 3.31 g/t recorded in individual holes. These results underscore the region’s polymetallic potential and support SLAM’s multi-commodity exploration strategy.

Historical Gold Intercepts And Soil Geochemical Targets

SLAM’s Jake Lee tenure has produced exceptional point samples from underground vein material. Historical drilling recovered 3,955 g/t gold over 0.1 meters from the No. 18 vein, while the Maisie vein has yielded 162.5 g/t over 0.2 meters and 56.90 g/t over 0.5 meters. These high-grade intercepts are spatially associated with a 3,000-meter-long soil geochemical anomaly, positioning the project for continued systematic exploration. An additional 900 soil samples await processing to further refine drilling targets across the extensive vein system.

Strategic Asset Portfolio And Future Cash Flow

Operating as a project generator model, SLAM has structured partnerships on adjacent properties. In early 2025, the company received 1.2 million shares plus cash from Nine Mile Metals Inc. related to the Wedge copper-zinc project, while a separate agreement on the Ramsay gold project generated $60,000 in cash plus share consideration from a private entity. The company holds net smelter royalty interests on both projects and anticipates additional cash and equity payments during 2026, providing a complementary revenue stream to exploration operations.

Immediate Priorities And Team Mobilization

SLAM’s technical team has recently returned to the Jake Lee exploration camp, positioning the company to interpret pending assay results and advance follow-up drilling programs. The convergence of high-grade grab samples, encouraging channel data, multiple mineralized structures, and regional fiscal support creates conditions for accelerated definition of mineral resources in New Brunswick’s proven precious and base metal district.