The "FIRESALE continues"... another $50Kfor the Menneval dream team...
...really great timing, unloading assets @ the bottom.
Do your DD on these guys!
2022-03-31 11:24 ET - News Release
Mr. Mike Taylor reports
SLAM VENDS RESERVE CREEK AND OPIKEIGEN GOLD CLAIMS
Slam Exploration Ltd. has signed a sale agreement to vend its Reserve Creek and Opikeigen gold claims to a private Ontario exploration group. The Reserve Creek and Opikeigen projects comprise 9 claims located within the traditional territories of the Eabametoong First Nation at Fort Hope, Ontario.
In return for a 100% interest in the Claims, Slam has received a $50,000 down payment and will receive the following cash payments:
- $100,000 within 12 months of the Agreement;
- $150,000 within 24 months of the Agreement.
- $200,000 within 36 months of the Agreement.
- $500,000 within 48 months of the Agreement.
Slam is to receive the following payments in shares issued by the Ontario exploration group once it goes public on a stock exchange:
- 100,000 shares within 12 months of the Agreement;
- 100,000 shares within 24 months of the Agreement.
- 100,000 shares within 36 months of the Agreement.
- 100,000 shares within 48 months of the Agreement
Slam retains a 2% net smelter return ("NSR") royalty on any saleable production from the Claims. Fifty percent of the royalty equal to 1% NSR may be purchased at any time by the Ontario exploration group for $1,000,000.
The Menneval Project: The Company is planning further work to follow up on core intervals ranging up to 56.5 g/t gold over 0.51 m drilled on vein No. 18 at its flagship Menneval gold project in New Brunswick. Slam drilled 20 holes and tested a swarm of new gold veins at Menneval in 2021. The Menneval property is comprised of 572 mineral claim units covering 12,390 hectares located in northwestern New Brunswick. The Company holds a 100% interest in these claims with the exception of 4 claim units covering 105 hectares that are subject to a 1.5% NSR. The Company can buy down 0.5% of the NSR for $500,000 and it has the right of first refusal on the remaining 1% NSR. For additional information and maps visit Menneval Gold Project or call Mike Taylor 506-623-8960.
Qualifying Statements: Mike Taylor P.Geo, President and CEO of Slam Exploration Ltd., a qualified person as defined by National Instrument 43-101, approves the technical information contained in this news release.
About Slam Exploration Ltd:
Slam is a project-generating resource company holding NSR royalties on the Rreserve Creek and Opikeigen claims as well as the Ferguson Brook, Superjack, Nash Creek, Portage, Goodwin, Lower 44 and A'Hearn properties in the Bathurst Mining Camp of New Brunswick. The current focus is on gold, and on its flagship Menneval gold project. Slam recently staked the Benjamin River gold-REE properties both located in the same geological domain as recent gold discoveries by Puma and Strata bound at Williams Brook and McIntyre Brook. Slam recently stake the Mt. Blair gold-silver property in the vicinity of Galway's Clarence stream gold deposit in southern New Brunswick where Slam also owns the Jake Lee, Mount Victor and Little Mount Pleasant gold properties. The Company owns the Gold Brook, Birch Lake gold and Wilson Brook gold properties in central New Brunswick as well as the Keezhik, Miminiska and Rich Lake south gold projects in Ontario. The Company owns a portfolio of base metal properties in the Bathurst Mining Camp ("BMC") that is subject to an option agreement.
The Company has generated cash from the sale mineral properties and from securities received from other companies pursuant to mineral property option agreements. The Company has sufficient funds for the work currently in progress. 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.
We seek Safe Harbor.