SLAM Exploration drilling base metal deposit

SLAM Exploration Ltd. (TSX-V: SXL - News; “SLAM”) announces drilling is underway at its wholly owned Nepisiguit property located 20 km west of the Brunswick No. 12 mine in the Bathurst Mining Camp of New Brunswick.

The program will test Zone A with approximately eight holes in the vicinity of three holes NP06-01 to NP06-03 reported 20 February 2007. The initial two holes will test a section 50 metres west of hole NP06-03 which returned 6.49% zinc, 2.04% lead, 0.16% copper and 48.43 g/tonne silver over 3.85 metres including a 0.45 metre interval at 22.40% zinc, 7.28% lead and 141.00 g/tonne silver. The program will also test the Nepisiguit B Zone 600 metres to the south.

The Nepisiguit property comprises 67 claims covering 1072 hectares of favourable volcanic stratigraphy in the Bathurst Mining Camp in New Brunswick. In addition to the Nepisiguit A and B massive sulphide zones, the property also hosts the Swamp Lake copper stringer zone.

The Nepisiguit A massive sulphide deposit has a strike length of 550 metres and is open at depth and to the west. Zone B, with a 250 metre strike length, is also open at depth and along strike. Further definition of these massive sulphide deposits through a relatively modest drilling program is likely to lead to additional tonnage of base metal resources.

The drilling program at Nepisiguit is consistent with SLAM’s strategy to quickly increase its base metal resource in New Brunswick by drill testing additional deposits in its portfolio. The cornerstone of this strategy remains the 3.4M tonne resource averaging 5.01% zinc, 0.89% lead and 30.95 g/tonne silver (NI 43-101 report Sept. 05) at Nash Creek. SLAM plans to aggregate sufficient critical tonnage to create a sustainable, mining operation in this world-class base metal-producing area.

Derek F. Brown, P.Geo. exploration manager of SLAM is the Qualified Person, as defined under National Instrument 43-101, responsible for management of the Nepisiguit project and the drilling results reported in this news release.

SLAM Exploration Ltd. is a mineral resource company based in Miramichi, New Brunswick. The Company is 100% owner of the Nash Creek zinc-lead-silver deposit. In addition, it wholly owns the Nepisiguit A, Nepisiguit B, Ahearn, Strachens East and Strachens base metal deposits within the world class Bathurst mining camp. SLAM also holds the right to earn 100% interest in 1935 claims centered in the Bathurst Mining camp. The Company holds varying interests in four gold properties in the gold producing Uchi sub-province of northwest Ontario.

Additional information about SLAM and its projects is available at www.slamexploration.com or from SEDAR filings at www.sedar.com. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

On behalf of the Board
Mike Taylor, P. Geo.
President & CEO
SLAM Exploration Ltd.

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 facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company 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. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information.

For further information

Bob Smylie, Investors’ Relations, Toll-Free, (866) 309-6719, request@slamexploration.com
Mike Taylor, President & CEO, (506) 627-1353, miketaylor@slamexploration.com

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Source: SLAM EXPLORATION LTD.