Miramichi, New Brunswick, March 10, 2022 (GLOBE NEWSWIRE) — SLAM Exploration Ltd. (“”SLAM” or “society” For TSXV: SXL), Puma Exploration Inc., Ferguson Brook’s Mineral Claims. We are pleased to inform you that we have signed a sales contract (“contract”) for sale to (“Puma”). Ferguson Brook’s Mineral Claims consists of 42 claims units covering 912 hectares of future land adjacent to Puma’s Williams Brook Gold Project.
To earn 100% interest, Puma will make the following payments to SLAM:
(A) $ 15,000 in cash and 250,000 shares of Puma upon receiving TSXV approval for this Agreement.
(B) Cash payment of $ 25,000 based on a positive preliminary economic assessment.
(C) $ 50,000 cash payment based on a positive feasibility study.
(D) One-time cash payment of $ 100,000 upon reaching commercial production.
The agreement defines Ferguson Brook’s mineral claims as two properties. Property A consists of 35 claims units acquired by SLAM by staking. Property B consists of 7 units of properties that SLAM has acquired through a “basic contract” with a third party. SLAM retains a 2% net smelter revenue (“NSR”) royalty for saleable production from Property A. 50% (that is, 1%) of NSR royalties can be purchased by Puma for $ 1,000,000. Puma reserves the right to initially reject the remaining 1% NSR royalties held by SLAM.
SLAM retains 1% net smelter revenue (“NSR”) royalty for saleable production from Property B. 50% of Property B’s NSR royalties (that is, 0.50%) can be purchased by Puma for $ 500,000. Puma reserves the right to initially reject the remaining 0.50% NSR royalties held by SLAM. Puma respects the terms and accepts the NSR commitment of the underlying contract for Property B.
Mike Taylor, President and Chief Executive Officer of SLAM, said: “I would like to congratulate Marcel and the Puma Exploration Team on these timely acquisitions and the success of Puma’s continued exploration at the Williams Brook Gold Project. Look at this space! New Brunswick Goldplay is still It’s just getting started. “For more information on Puma, click https: //www.explorationpuma.com/en/.
Menneval Project: We will complete additional work to test the new gold vein swarms found in the 2020-21 drilling program of our flagship Menneval Gold project. SLAM drilled 20 holes in 2021 and crossed core spacings in the gold range up to 56.5 g / t over 0.51 m. The property consists of 572 mineral claims units covering 12,390 hectares located in northwestern New Brunswick. We hold a 100% stake in these claims, with the exception of four claim units covering 105 hectares covered by a 1.5% NSR. We can purchase 0.5% of NSR for $ 500,000 and have the right to reject the remaining 1% NSR first. For additional information and maps, visit the Menneval Gold Project or call Mike Taylor 506-623-8960.
About SLAM Exploration Ltd:
SLAM is a project generation resource company that owns NSR loyalty in Ferguson Brook’s properties, in addition to the Superjack, Nash Creek, Portage, Goodwin, Lower 44 and Ahan properties in Bathurst Mining Camp, New Brunswick. .. The current focus of SLAM is gold, which is the flagship Menneval gold project. SLAM owns the gold assets of Ramsey and Benjamin River in the same geological area as Williamsbrook’s gold discovery in Puma. SLAM owns Jake Lee, Mount Victor, and Little Mount Pleasant gold assets on the sides of the Sawyerbrook and Wheatonbay faults near the Clarencestream gold deposit in Goalway, southern New Brunswick. We own Gold Brook, Birch Lake Gold, and Wilson Brook Gold properties in a similar structure in central New Brunswick. SLAM owns the Keezhik and Miminiska Gold Projects in Ontario and the Mount Uniacke Gold Project in Nova Scotia. We own a portfolio of base metal assets in the Bassert Mining Camp (“BMC”), which is subject to option contracts.
We generate cash by selling securities received from mineral rights option contracts with other companies and have sufficient funds for ongoing work. Additional information about SLAM and its projects is available from SEDAR Filing at www.slamexploration.com or www.sedar.com. Follow us on Twitter @ SLAM Gold.
Eligible statement: SLAM Exploration Ltd, a qualified person as defined by National Instrument 43-101. Mike Taylor P. Geo, President and CEO of, approves the technical information contained in this news release.
Certain information in this press release may constitute forward-looking information, including statements. Dealing with private placements, private placement closures, future production, and reserves Exploration and development activities and events or developments that we may expect. This information is based on current expectations that will be affected by significant risks and uncertainties. It’s hard to predict.Actual results may differ significantly from those suggested in the future outlook. statement. Reasons why we may update our forward-looking statements or may differ from the actual results as reflected in our forward-looking statements, except as required by the securities laws applicable to us. We do not undertake any obligation to renew. There are many risk factors that can cause future results to differ materially from those listed here. Information identifying risks and uncertainties is contained in our filings with Canadian securities regulators. This submission is available at www.sedar.com. Neither TSXV nor its regulatory service provider (the term is defined in TSXV policy) is responsible for the validity or accuracy of this release.
Mike Taylor, President and Chief Executive Officer
Contact: 506-623-8960 firstname.lastname@example.org
Eugene Beukman, CFO
Contact: 604-687-2038 email@example.com
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SLAM sells gold bills to Puma, Canadian Business Journal
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