SLAM MOBILIZING DRILL TO SILVERJACK

Drilling to test high grade silver- copper-lead-zinc deposit

MIRAMICHI, NB, Nov. 2 /CNW/ - SLAM Exploration Ltd. (TSX-V:SXL) ("SLAM") announces it is mobilizing a drill to its Silverjack property in New Brunswick and expects to start producing core by Wednesday. The primary target is the historic Silverjack deposit where SLAM previously drilled high grade core intervals ranging up to 653 g/t silver, 2.69% copper, 2.00% zinc and 2.34% lead over 0.75m. This high grade sample occurs within a 6.6 m interval grading 268.20 g/t silver, 1.27 % copper, 5.65% zinc and 4.53% lead as announced by press release 16 February 2010.

The drilling program will expand southward to test for potential extensions along SLAM's airborne VTEM conductor extending from the Silverjack deposit. Targets include lead and zinc mineralization associated with this conductor and a copper-silver-cobalt vein uncovered by the trenching program.

Mike Taylor states, "SLAM drilled spectacular silver intercepts at Silverjack last winter. Drilling will test for extensions as well as widespread lead-zinc mineralization and a new high grade copper-silver-cobalt vein discovered by the 2010 trenching program."

To support the drilling program, the Company has been awarded a provincial grant of $35,000 under the New Brunswick Junior Mining Assistance Program. The Silverjack property comprises 63 wholly owned mineral claims plus 13 claims under option for a total of 1290 hectares. This property is located 12 kilometres southwest of the Belledune smelter and seaport and adjacent to SLAM's Nash Creek property comprised of 406 mineral claims covering 6,496 hectares.

Derek F. Brown, P.Geo. and consultant to SLAM, is the Qualified Person responsible for the technical information contained herein. Additional information about Silverjack can be viewed at: www.slamresources.com/projects/new-brunswick/silverjack.

SLAM is a mineral resource company based in Miramichi, New Brunswick. SLAM continues to be active in gold and base metal exploration in Ontario and New Brunswick. Additional information about SLAM and its projects is available at www.slamexploration.com or from SEDAR filings at www.sedar.com. 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.

Additional information about SLAM can be viewed at http://www.slamexploration.com as well at www.sedar.com.

On behalf of the Board

Mike Taylor, P. Geo. President & CEO SLAM Exploration Ltd. SEDAR: 00012459E

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.

%SEDAR: 00012459E

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