SLAM Finding More Quartz Veins in The St Quentin Gold Area

Additional Quartz Boulders And Veins at The NW Gold Project

MIRAMICHI, NEW BRUNSWICK -- (Marketwire) -- 06/12/12 -- SLAM Exploration Ltd. (TSX VENTURE: SXL) (OTCBB: SLMF) ("SLAM") reports the discovery of additional gold-bearing quartz boulders and veins at its recently acquired NW Gold project located near Saint Quentin, New Brunswick. Trenching revealed a series of quartz veins in bedrock over a strike length of 250 m, locally with visible gold and grab samples ranging up to 493 g/t gold as reported by SLAM in a press release dated January 9, 2012.

The SLAM prospecting team has discovered a new site with angular quartz boulders and grab samples grading up to 1.86 g/t gold. This site is 480 m from the original Lavoie discovery and extends the potential strike length of this gold-bearing system to 580 m. A grab sample grading 0.75 g/t gold was collected from another quartz boulder 800 m from the discovery site. This boulder occurs near a series of quartz veins that outcrop and may represent a separate vein system on the property. Additional assays are pending on prospecting samples from these sites.

SLAM geologists are encouraged by this prospecting program. The gold-bearing structure is extended and additional quartz veins and structures have been identified. The Company will continue with the successful prospecting program and expects to follow with trenching to further test these sites as well as the original discovery.


About The SAINT QUENTIN Gold Discovery:

SLAM has an option to earn 100% interest in the NW Gold Project which comprises 251 units in 20 claims located near Saint Quentin, in northwest New Brunswick. Combined they cover 6275 hectares of highly prospective sedimentary rocks with favourable gold-bearing structures. Local prospector Tim Lavoie discovered gold-bearing quartz veins in the fall of 2011. SLAM acquired the property through an option agreement and followed up with additional prospecting and trenching in December.


About New Brunswick:

New Brunswick is currently rated the world's most attractive jurisdiction for mineral exploration and development, as announced by the Fraser Institute, February 23, 2012. The Province has demonstrated potential for large mineral deposits and can be expected to generate mining operations well beyond the world-class BMS No. 12 mine operated by Xstrata.


Qualifying Statements:

SLAM Project Manager Sara Lloyd, P.Geo. is the Qualified Person responsible for the technical information contained herein. Grab samples were collected and sent to Actlabs in Ancaster, Ontario for fire assay.


About SLAM Exploration Ltd:

SLAM is a mineral resource company based in Miramichi, New Brunswick and is actively exploring the recent gold discovery on its NW Gold project in northwestern New Brunswick. SLAM owns the Nepisiguit silver-copper-lead-zinc deposit and the Nash Creek lead-zinc-silver deposit, 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.

On behalf of the Board

Mike Taylor, P. Geo.
President & CEO, SLAM Exploration Ltd.



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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



Contacts:

SLAM Exploration Ltd.
Brian Jones, Investor Relations
Toll Free: 855.800.6109
Toronto: 647.729.1436
info@slamexploration.com
www.slamexploration.com