/Not for Distribution to U.S. Newswire Services or for Dissemination in the United States /

MIRAMICHI, NB , Feb. 24, 2015 /CNW/ - SLAM Exploration Ltd. (SXL.V) (the "Company") announces a private placement of up to 4,000,000 non-flow-through units (the "Units") at a price of $0.05 per Unit and up to 8,000,000 flow-through units (the "FT Units") at a price of $0.05 per FT Unit for gross proceeds of up to $600,000 (the "Private Placement"). Each Unit will be comprised of one common share in the capital of the Company and one-half of one common share purchase warrant. Each FT Unit will be comprised of one common share in the capital of the Company issued on a "flow-through" basis and one-half of one common share purchase warrant issued on a non-flow-through basis (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one non-flow-through common share at a price of $0.05 for a period of 12 months and at a price of $0.10 for an additional 12 months thereafter, expiring 24 months after the date of issuance. The Units and FT Units are subject to a four-month and one day hold period from the date of issuance.

The Private Placement is offered to qualifying investors and fund managers on a non-brokered basis. The Company may pay finder's fees in accordance with the rules and policies of the TSX Venture Exchange ("TSXV"). The Company anticipates there may be Insider participation for which a finder's fee will not be paid. The Private Placement remains subject to the approval of the TSXV. For additional information about this financing call Mike Taylor at 506-627-1353 or toll-free 1.866.523.6719.

Proceeds received from the Units will be used for general corporate purposes. Proceeds received from the FT Units will be used to fund exploration on the Company's base metal and gold projects in New Brunswick . The main focus is the Superjack zinc-lead-copper-silver deposit 30 km south of the Trevali's Caribou mine-site in the Bathurst Mining Camp.

About SLAM Exploration Ltd.SLAM owns a portfolio of road accessible mineral properties within driving distance of the corporate head office in Miramichi, New Brunswick . This portfolio includes the Superjack (formerly Nepisiguit) and Nash Creek base metal-silver deposits that both contain resources conforming to NI43-101 standards. The Company discovered an extension of the Superjack-A massive sulphide deposit in 2011 and discovered the Maisie gold deposit on its Menneval project in 2012. The Company also owns a significant gold portfolio in Ontario that includes 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.