SLAM Holds Annual and Special Meeting

Change of Directors; Change of Auditors, Current Focus On Maisie Gold Zone

MIRAMICHI, NEW BRUNSWICK--(Marketwired - Jul 25, 2013) - SLAM Exploration Ltd. (TSX VENTURE:SXL)(OTCBB:SLMF) ("SLAM") is pleased to report the annual general and special meeting was held at the Rodd Miramichi Hotel in Miramichi, New Brunswick, on July 24th, 2013. Items on the agenda included the election of the board of directors, a financial review and other business along with a presentation on the company's current and planned operations and an opportunity for shareholders to ask questions.

Two new directors, John Martin and Eugene Beukman joined Edward Yates and Michael Taylor on the board of directors. The board appointed Michael Taylor to continue as President and CEO and Eugene Beukman to serve as CFO. A Chan & Company, LLP, Chartered Accountants were appointed as auditors.

The Company has accepted the resignation of directors John Hansuld and Roger Frenette along with the resignation of former CFO Roland Lovesey. On behalf of the shareholders, we wish to thank these gentlemen for their years of service to the Company.

Subsequent to the AGM, the directors held a board meeting and planning session. In accordance with the company option plan, a total of 930,000 options were awarded to officers, directors, employees and consultants. These options are exercisable at $0.10 until July 25, 2018. The total options issued are 2,000,000 from a total of 2,623,023 available under the company option plan.

Director and CFO Eugene Beukman of Vancouver, BC, has a wealth of experience in the management and advancement of public companies. Director John Martin, P. Eng of Miramichi, NB, is a metallurgist with a long and distinguished career involving management of exploration, mine development and production in both base metals and gold. Going forward, the new board is implementing cost control measures but will continue to direct the corporate focus on the advancement of the Maisie gold zone. With significant gold visible at surface, the Company believes that once the scope of the deposit is confirmed, a relatively low capital expenditure will be required to bring it to production.

About the Maisie Zone:

Since discovery in 2012, the Company has traced the Maisie zone over a 700 m strike length and to a depth of 45 m with trenching and drilling programs. Drill hole locations are shown at http://www.slamresources.com/projects/new-brunswick/menneval. During the 2012 trenching program, the Company reported numerous sites of visible gold with bonanza grade assays as it uncovered the vein system. Photos of selected drill core with visible gold can be viewed at http://www.slamresources.com/core-shack/.

Qualifying Statements: Mike Taylor, P.Geo., President and CEO of SLAM, is the Qualified Person responsible for the geotechnical information contained herein.

About SLAM Exploration Ltd:

SLAM is a mineral resource company based in Miramichi, New Brunswick and is actively exploring recent new gold discoveries on its Menneval project in northwestern New Brunswick. In addition, the Company owns the Nepisiguit and Nash Creek silver-base metal deposits, both NI 43-101 compliant and located in New Brunswick. The Company also owns a significant gold portfolio in Ontario including the Reserve Creek gold deposit. Additional information about SLAM and its projects is available at www.slamexploration.com or from SEDAR filings at www.sedar.com. Follow us on twitter @SLAMGold.

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

SEDAR: 00012459E

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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.