MIRAMICHI, NEW BRUNSWICK--(Marketwire - March 27, 2013) - SLAM Exploration Ltd. (News - Market indicators)(OTCBB:SLMF) ("SLAM") is pleased to report metallurgical test results on a 27 kg bulk sample from its wholly owned Menneval gold project in New Brunswick. The tests were completed by RPC Science & Engineering ("RPC") of Fredericton for a Preliminary Metallurgical Scoping Study on Maisie Zone Gold Samples. The study involved bench scale mineralogy and gravity separation tests to define liberation grind size targets, gold associations, etc. Results show that the gold occurs in the vein as free particles ranging from 50 micron to 1.7 mm in size and that a Knelson concentrator would effectively process the Maisie zone gold ores. RPC recommends additional testing to determine the optimal grind size for separation of gold from the Maisie vein as well as methods for further gold concentration.

SLAM is very encouraged by these results which show that all of the gold within the Maisie vein occurs as free particles and that fairly simple gravity methods can be used to separate the gold. As previously reported from highly successful trenching and drilling programs, the Maisie gold vein extends over a strike-length of at least 700 m and to a depth of at least 45 m. Numerous sites of visible gold were noted in trenches and at least one bonanza grade gold shoot has been confirmed at depth by drilling. The company is evaluating these results and making plans for additional test work and large scale bulk sampling.

Test Results:

Rougher tests R1 to R3 produced concentrates averaging 690 g/t gold on 3 sub-samples with an average head grade of 228.15 g/t gold. A Knelson cleaner test improved the concentrate grade to 1190 g/t gold. The Knelson tests were done after the sample was crushed to the -1.7 mm particle size. Mineralogy tests indicate the sample contains free gold particles ranging from 50 microns to 1.7 mm in size. These results show that a finer grind size is required to improve the concentrate grade and increase the recovery of gold. 

Knelson Test Methodology:

The 27 kg bulk sample was crushed to -1.7 mm size and Knelson rougher tests were conducted on 3 representative sub-samples numbered R1 to R3. The fractions and concentrates produced were subjected to fire assay. The Knelson rougher process produced concentrates containing an average of 657 g/t Au. The Knelson cleaner test was done on a composite of the concentrates from R2 and R3 resulting in a cleaner concentrate of 1190 g/t gold. The tailings grades were high (average 99 g/t Au on the rougher samples) indicating that significant gold remained in the tailings. This is expected to improve with finer grinding. The rougher and cleaner test results are summarized in the following table:

Mineralogy:

RPC determined that the sample contains gold particles ranging in size from 50 microns to 1.7 mm using both optical and scanning electron microscopy. A Scanning Electron Microscope coupled to an Energy Dispersive Spectrometer (SEM-EDS) was utilized on the -1/4" material to determine the gold association and liberation size. A polished block was produced for the SEM-EDS investigation. A summary report by RPC is filed with along other SLAM documents at www.sedar.com.

Sample Description:

The 27 kg sample comprised quartz vein material with visible gold collected from a site uncovered during the 2012 trenching program on the Maisie Zone. This site referred by Company geologists as the "Jewellery Shop" is located 25 m along strike from hole MG1226 which contains up to 104 g/t gold over 0.3 m as previously reported.

The Maisie Zone:

The Company has traced the vein system 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. The target vein was identified in a trenching program from which the Company reported numerous sites of visible gold with bonanza grade assays as it traced the vein system over a 700 m strike length in 2012. 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. The metallurgical tests were conducted at RPC of Fredericton, New Brunswick. Leo Cheung, P.Eng., Senior Chemical Engineer, is the qualified person responsible for the metallurgical testing and results reported herein. 

About The Menneval Project: SLAM holds 100% interest in 8 contiguous claims including 7 claims in the Menneval project and 1 claim referred to as the Border project that together cover 30,820 hectares all acquired by map-staking near Menneval in northwest New Brunswick. Four (4) of the claims covering 692 hectares are subject to a 1.5% NSR. SLAM can buy down 0.5% NSR for C$0.5M and has right of first refusal on remaining 1%. The Menneval property hosts the Maisie gold zone. The Border property hosts a swarm of gold-bearing quartz veins known as Zone 9 located 700 m south of the Maisie discovery. 

About SLAM Exploration Ltd:

SLAM is a mineral resource company based in Miramichi, New Brunswick and is actively exploring 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.

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.