Slam Exploration Ltd. (SLMXF)

[gsfl]

SLAM drills 8.27% zinc over 6.0 m near BMS No. 12 Mine
NEAR-SURFACE MASSIVE SULPHIDES SHOW OPEN PIT MINING POTENTIAL
TSXV: SXL US-OTC: SLMF
MIRAMICHI, NB, Jan. 11, 2012 /CNW/ - SLAM Exploration Ltd. (TSXV: SXL) (US-OTC: SLMF) ("SLAM") is pleased to announce a 6.0 m core interval grading 0.38% copper, 8.27% zinc, 1.98% lead and 79 g/t silver at a depth of 5.0 m in hole NP11-43 at its wholly owned Nepisiguit project located 15 km west of the BMS No. 12 Mine operated by Xstrata in northern New Brunswick. This near-surface interval occurs within a 19.2 m zone of massive sulphides that starts from the drill casing at 3 m. Selected results for holes NP11-43 to NP11-45 are summarized in the table below.

Hole ID	        From m Length m  True Width*m  Copper %  Zinc %   Lead %  Silver g/mt 
 NP11-43             3.00        19.20            16.70          0.44       4.33     1.12             61 
   Includes            5.00          6.00              5.22          0.38       8.27     1.98             79 
 NP11-44           10.85        13.55            11.79          0.41       3.16     0.91             44 
   Includes          14.15          4.35              3.78          0.37       6.01     1.65             75 
 NP11-45            6.00         10.10              8.79          0.31       4.15	    1.09 	        28 
 NP11-45          24.70         19.30            16.79          0.42       4.48     1.51             69 
  Includes          36.00           8.00              6.96          0.51       7:14     2:16             96 
  

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

These 3 holes were drilled at 15 m spacing on the same section as hole NP11-16 announced by press release October 22, 2011. They are part of a series of
holes designed to outline the grade and tonnage of near-surface mineralization at Nepisiguit. Assays are pending on an additional 40 holes. The primary objective of the program is to drill enough holes to define a NI43-101 compliant resource including a near-surface component amenable to open-pit mining.
About Nepisiguit: SLAM's 100% owned Nepisiguit project comprises 78 claims covering 1770 hectares 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: SLAM Project Geologist, Sara Lloyd, P.Geo. 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 analyzed the samples using code 8AR for copper, zinc, lead and silver. Selected samples were also tested using code Ultratrace 2 for multi-elements. The Company used blank and standard samples for quality assurance and control.