SLAM Exploration Drilling 40.5 g/t Gold Vein on the Jake Lee Gold Project

About this update from Slam Exploration Ltd.

7,000 Meter Diamond Drilling Contract Signed To Drill For Gold, Silver and Critical Elements in the Mineral-Rich Province of New Brunswick, Canada MIRAMICHI, NB / ACCESS Newswire / April 30, 2026 / SLAM Exploration Ltd. (TSXV:SXL) (OTCQB:SXLXF) ("SLAM" or the "Company") is it has launched its 2026 diamond drilling campaign and that drilling is in progress on the Jake Lee gold project. The primary gold target is the No. 1 vein where SLAM reported high grade assays up to 40.5 grams per tonne ("g/t") gold and 63.3 g/t silver from channel samples. The Jake Lee project is located 25 kilometers southeast of the Clarence Stream gold deposit operated by Galway Metals Inc. in New Brunswick, Canada. SLAM is currently drilling beneath the No. 1 vein where SLAM reported channel samples grading up to 40.5 g/t gold and 63.30 g/t silver in a news release dated January 14, 2026. The drill is set up on hole JL26-01 collared 12 meters south of the vein and drilling at an angle of 45o toward the vein. The Company expects to intersect the target at a depth of 16 meters. The hole is designed to test the No. 1 gold vein 12 meters beneath the vein shown in Figure 1. Figure 1: The No. 1 Gold Vein The Company is also using an excavator to trench gold soil anomalies ranging up to 0.466 g/t gold associated with airborne conductors and aeromagnetic anomalies up to 800 meters northeast of the No. 1 gold vein. Targets include a 200 meter by 400 meter area of anomalous soils located to the northeast as reported March 2, 2026. The Company has uncovered mineralized quartz veins and vein networks and has submitted 25 samples to the lab for gold assays. The Jake Lee claims are located 25 kilometers southeast of the Clarence Stream gold deposit where Galway Metals Inc. Clarence Stream is host to a 12.4M tonne indicated resource of 922,000 ounces at a grade of 2.31 g/t gold plus an inferred resource of 16.1m tonnes with 1,334,000 ounces at a grade of 2.60 g/t gold. (Reference: "Updated Mineral Resource Statement, Clarence Stream Deposits, New Brunswick, Canada, by SLR Consulting (Canada) Ltd., March 31, 2022"). Diamond Drilling Contract: The Company has signed a contract for 7,000 meters of diamond drilling and expects to drill up to 500 meters on the No. 1 vein at Jake Lee before moving the drill to the Goodwin copper-nickel-cobalt project. The Company may also do some drilling on other pro...

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