SLAM Exploration Ltd. Announces Grant of Stock Options

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

MIRAMICHI, NEW BRUNSWICK -- (Marketwire - Sept. 12, 2012) - SLAM Exploration Ltd. (TSX VENTURE:SXL) (OTCBB:SLMF) (the "Company") announces the grant of 1,045,000 options to purchase common shares in the capital of the Company ("Common Shares") pursuant to the Company's stock option plan. Options to purchase up to 675,000 Common Shares were granted to directors and officers, and options to purchase up to 270,000 Common Shares were granted to employees and consultants. In addition, options to purchase up to 100,000 Common Shares were granted to the Company's investor relations consultant, Brian Jones, vesting quarterly over a period of one year. All such options are exercisable at a price of $0.20 per share for a period of five years from the date of grant, and are subject to a four month hold period until January 13, 2013.

The Company grants options as an incentive for the Company's team to advance its corporate objectives and allow the Company to prosper in the highly competitive marketplace that exists today. The current objective is to continue the exploration and development of the road-accessible new gold discoveries on the Menneval and NW Gold projects in New Brunswick.


About SLAM Exploration Ltd:

SLAM is a mineral resource company based in Miramichi, New Brunswick and is actively exploring to follow up two new gold discoveries on its Menneval and NW Gold projects in northwestern New Brunswick. The Company also owns the Nepisiguit and Nash Creek silver-base metal deposits, 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. Follow us on twitter @SLAMGold.


Certain information in this press release may constitute forward-looking information, including statements that address future production, reserve potential, exploration and development activities and events or developments that the Company expects. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. There are a number of risk factors that could cause future results to differ materially from those described herein. Information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com.


On behalf of the Board

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


SEDAR: 00012459E

Neither the 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.



Contact

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