SLAM Drills 18 Meter Mineralized Vein at Jake Lee Gold; Channel Sample Grades 40.50 G/T Au over 0.40M

Quartz Veining Drilled in All 5 Diamond Drill Holes Completed on the Jake Lee Gold Project in the Mineral-Rich Province of New Brunswick, Canada MIRAMICHI, NB / ACCESS Newswire / May 27, 2026 / SLAM Exploration Ltd. (TSXV:SXL ) ( OTCQB:SXLXF ) (" SLAM " or the " Company ") is pleased to report it has drilled quartz and quartz-calcite veining with pyrite, arsenopyrite and chalcopyrite mineralization in all 5 holes drilled on its wholly owned Jake Lee Project. The Jake Lee project is located 25 kilometers southeast of the Clarence Stream gold deposit operated by Galway Metals Inc. in New Brunswick, Canada. Holes JL26-01, JL26-02, and JL26-03 successfully intercepted quartz veining with visible pyrite-arsenopyrite-chalcopyrite mineralization typically associated with gold occurrences.

These holes were designed to test the potential continuation below channel samples grading up to 40.5 g/t gold and 63.30 g/t silver over 0.40 meters. The channel samples were sawn across the No. 1 gold vein as reported in a news release dated January 14, 2026 after the new gold discovery by SLAM in 2025. Deeper intercepts of mineralized quartz and quartz-carbonite vein systems occur in holes JL26-04 and 05.

These include an 18-meter zone of quartz veining from 70.90 to 89.00 meters with chalcopyrite-arsenopyrite-pyrite mineralization and a 17-meter zone of quartz veining from 129.50 to 146.5 meters with chalcopyrite-arsenopyrite-pyrite mineralization. These holes were drilled to test soil geochemical anomalies ranging from 0.021 g/t gold to 0.246 g/t gold located 300 meters and 500 meters northeast of the No. 1 vein. The geochemical anomalies coincide with a geophysical aeromagnetic low and a linear topographic feature that highlight a potential correlation with the No. 1 gold vein.

Figure 1: Hole JL26-05 Arsenopyrite-pyrite-chalcopyrite mineralization in quartz