Slam Exploration Ltd. (SLMXF)

[gsfl]

Slam Cutting Copper-Zinc-Lead-Silver at Depth

50 Holes Drilled on Expanded Program 15 Km from BMS No. 12 Mine
TSXV: SXL US-OTC: SLMF
MIRAMICHI, NB, Dec. 9, 2011 /CNW/ - SLAM Exploration Ltd. (TSXV: SXL) (US-OTC: SLMF) ("SLAM") is pleased to announce assay results from an additional 6 diamond drill holes NP11-18 to NP11-23 all drilled on the A-Zone at its wholly owned Nepisiguit project located 15 km west of the BMS No. 12 Mine operated by Xstrata in New Brunswick. Previously announced holes NP11-16 and 17 (press release October 27, 2011) combined with holes NP11-18 to NP111-20 extend the near-surface mineralization to a strike length of 350 m. Holes NP11-21 to 23 tested for deeper mineralization beneath previously drilled intercepts.

Hole NP11-23 intersected 14.6 m of massive sulphide mineralization including 10.99% zinc, 3.16% lead and 52.48 g/t silver over 2.9 m at a depth of 387.6 m. This is below any previous sulphide intercept and suggests significant potential to expand tonnage beyond the A-Zone at Nepisiguit.

Assays are pending on an additional 42 holes. These include 16 holes drilled on a pattern designed to define near-surface massive sulphide mineralization in the A-Zone. The primary objective of the program is to drill enough holes to define a near-surface NI43-101 compliant resource amenable to open-pit mining. After discovery of deeper mineralization in Hole NP11-23, a number of holes were drilled below NP11-23 as well as along strike to test the potential for a large VMS deposit at depth. The deepest intercept to date is an 11m core interval of massive sulphides intersected at a depth of 614m in hole NP11-39. The A-Zone is open at depth below this deep intercept. Results for the 6 holes are tabled as follows:

 
 Hole ID   From m Length m  True Width*m Copper % Zinc % Lead % Silver g/mt 
 NP11-18   56.75        2.50                2.33        0.12    2.79    1.42         21.92 
 NP11-19   78.12      10.88              10.12        0.17    3.04    0.49         12.43 
 Includes    78.12        4.38                4.07        0.28    5.00    0.74         20.54 
 NP11-20   28.71        1.19                1.11        0.07    5.42    3.65       147.34 
 NP11-21  219.40       2.00                1.86        0.35    4.08    0.70         38.45 
 NP11-22  209.56       1.24                1.15        0.09    5.15    1.20         73.00 
 NP11-23  387.60     14.63              13.61        0.36    3.34    0.89         25.16 
 NP11-23  387.60       9.60                8.93        0.40    4.63    1.29         32.21 
 NP11-23  387.60       5.75                5.35        0.34    6.88    1.94         43.22 
 NP11-23  387.60       2.90                2.70        0.19  10.99    3.16         52.48 
 

*True widths are preliminary estimates based on observed core angles.

The Company has mobilized a third rig to complete its drilling south flank of the A-Zone. B-Zone sulphide mineralization appears similar to the A-Zone and may be a folded repetition of the same deposit.

About Nepisiguit: SLAM's 100% owned Nepisiguit project now comprises 78 claims covering 1770 hectares with a 6,500 m strike-length of favourable strata located on highway 430 approximately 15 km southwest of the world-class BMS No. 12 mine operated by Xstrata. Nepisiguit is a volcanogenic massive sulphide deposit discovered in 1956. Previous workers defined 3 zones known as the Nepisiguit A, B and C zones with a series of shallow holes that pre-date NI-43-101 standards. The Nepisiguit drilling program is being funded in part by a $50,000 grant from the New Brunswick Junior Mining Assistance Program.

Qualifying Statements: Derek F. Brown, P.Geo. a consultant to SLAM is the Qualified Person responsible for the technical information contained herein. Drill cores were delivered from the drill to a secure site for logging and sampling. The samples were split or sawn and sent to Activation Labs in Ancaster, Ontario for analysis. Activation Labs an alyzed the samples using code 8AR for silver, zinc and lead. Selected samples we real so tested using code Ultratrace 2 formulti- elements. The Company used blank and standard samples for quality assurance and control.

About SLAM Exploration Ltd:
SLAM is a mineral resource company based in Miramichi, New Brunswick and currently has 3 diamond drilling rigs turning on its wholly owned Nepisiguit silver- copper-lead-zincdepositinNewBrunswick. InadditiontotheNWGoldproject,theCompanyhasasignificantgoldportfolioincludingtheReserveCreekgold deposit in Ontario. 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.
On behalf of the Board Mike Taylor, P. Geo. President & CEO SLAM Exploration Ltd.