SLAM Receives Approval to Mine Gold With Bulk Sample
Letter of Approval from Department of Environment in New Brunswick
MIRAMICHI, NEW BRUNSWICK--(Marketwired - Oct 5, 2015) - SLAM Exploration Ltd. (TSX VENTURE:SXL) (the "Company") announces it has applied for a permit to mine a 2,000 tonne bulk sample from the Maisie gold vein and has received a favourable response from the New Brunswick Department of Environment. The Maisie gold vein is a high grade vein discovered by SLAM in 2012 on its wholly owned Menneval project in New Brunswick.
The Company proposes to extract the sample from known mineralization at surface using an excavator. No drilling or blasting is required for this program. The extracted material will be processed using small scale, gravity based equipment to separate the gold. No chemicals will be used in the process. The purpose is to develop environmentally sustainable techniques to extract gold, provide an estimate of the grade of the Maisie vein and demonstrate whether these veins can produce enough revenues for longer term mining operations. The response from the New Brunswick Department of Environment states that the proposed bulk sample program will not trigger an Economic Impact Assessment ("EIA") and that work can proceed on the proposed program. A License of Occupation that authorizes SLAM to complete this work is pending.
Resignation of Director: The Company also announces the resignation of John Martin from the Board of Directors. We wish to thank Mr. Martin for his contributions to our firm.
About The Menneval Project: SLAM holds 100% interest in 8 contiguous claims that cover 12,000 hectares acquired by map-staking near Menneval in northwest New Brunswick. The extensive property hosts a number of new gold discoveries including the Maisie vein and Zone 9. Click on the SXL website at http://www.slamexploration.com/wp/?page_id=216 for more detailed information.
About SLAM Exploration Ltd.:
SLAM is a project generator with a portfolio of road accessible mineral properties within driving distance of the corporate head office in Miramichi, New Brunswick. One project generated from scratch is the Menneval gold project where the Company discovered the Maisie gold deposit on in 2012. The portfolio also includes the Superjack (formerly Nepisiguit) and Nash Creek zinc-lead-silver deposits. The Company also owns the Reserve Creek gold deposit and other significant gold projects in Ontario. 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.
Qualifying Statements: Mike Taylor, P.Geo. President and CEO of SLAM Exploration Ltd., is the Qualified Person responsible for the technical information contained herein.
Certain information in this press release may constitute forward-looking information, including statements that address the Private Placement, the closing of the Private Placement, future production, reserve potential, exploration and development activities and events or developments that the Company expects. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. There are a number of risk factors that could cause future results to differ materially from those described herein. Information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Contact
SLAM Exploration Ltd.
Mike Taylor
President & CEO
mike@slamexploration.com
SLAM Exploration Ltd.
Eugene Beukman
CFO
604-687-2038