SLAM UNCOVERS ADDITIONAL MINERALIZATION AT SILVERJACK

Potential extensions to high grade silver-copper-zinc-lead deposit.

MIRAMICHI, NB, Oct. 8 /CNW/ - SLAM Exploration Ltd. (TSX-V:SXL) ("SLAM") announces additional indications of widespread sulphide mineralization at its Silverjack property in New Brunswick. SLAM has completed approximately 600 m of trenching in 4 trenches. This initial stage of trenching is testing an area of soil and magnetic anomalies roughly 1,000 m south of the Silverjack deposit.

Trench TR10-01 uncovered 4 mineralized zones ranging from 2 to 5 m wide. Trench 2 is partially complete with 100 m excavated. The completed portion has uncovered disseminated lead-zinc mineralization on the edge of a soil anomaly. SLAM plans to extend this trench an additional 300 m to fully test the soil anomaly.

Trench TR10-03 has uncovered a vein with copper mineralization ranging from 5 to 20 cm wide over a strike length of 80 m. This new copper occurrence was recently discovered by SLAM's exploration team. The Company has shipped 12 grab samples from the first 3 trenches for silver and base metal analysis. Trench 4 is in progress approximately 200 m north of Trench 1.

The rocks in these trenches are similar to those hosting the Silverjack deposit. SLAM previously drilled high grade core intervals ranging up to 653 g/t (19.05 oz/ton) silver, 2.69% copper, 2.00% zinc and 2.34% lead over 0.75m at Silverjack. This high grade sample occurs within a 6.6 m interval grading 268.20 g/t silver (7.82 oz/ton), 1.27 % copper, 5.65% zinc and 4.53% lead as announced by press release 16 February 2010.

SLAM expects to follow up the trenching with a drilling program in early November. To support the trenching and subsequent 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.

President and CEO, Mike Taylor states, "Widespread copper lead and zinc mineralization occurs in trenches extending 1,000 m south from Silverjack. These results provide additional targets for a follow-up drilling program later this year. Preparations are also being made for drilling on our Reserve Creek gold deposit. SLAM expects to benefit to from a steady stream of positive news from these projects as silver and gold prices continue to surge upward."

Michael R. Taylor, P.Geo. President and CEO of SLAM Exploration Ltd. 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

For further information: Corporate Inquiries: Mike Taylor, President & CEO, 506.627.1353, Toll Free: 866.523.6719, [email protected]