TSXV: SXL
Sells Mining Equipment For 1.1M
Shares
MIRAMICHI, NB, March 20, 2018 /CNW/ - SLAM Exploration Ltd.
(TSXV: SXL) ("SLAM" or the "Company") is pleased
to announce it has received 1,100,000 shares of Great Atlantic
Resources Corp. (TSXV: GR) in return for a turnkey portable gold
mining plant. As announced by Great Atlantic on February 28, 2018, the shares were issued at a
deemed price of nine cents per share
in lieu of the cash amount of $99,000
in consideration of the purchase.
About Great Atlantic Resources Corp: Great Atlantic
Resources is a Canadian exploration company focused on the
discovery and development of mineral assets in the resource-rich
and sovereign risk-free realm of Atlantic
Canada, one of the No. 1 mining regions of the world. Great
Atlantic is currently surging forward building the company
utilizing a project generation model, with a special focus on the
most critical elements on the planet that are prominent in
Atlantic Canada: antimony,
tungsten and gold.
SLAM Exploration Ltd. also reports a revision to a news
release issued by SLAM on January 30,
2018 regarding acquisition of a new cobalt claim adjacent to
SLAM's Portage VMS property. In the 3rd paragraph, it
was incorrectly stated that the Company "can purchase the royalty
at any time for $2,000,000". This
should have stated "the Company can purchase the royalty at any
time for $1,000,000".
About SLAM Exploration Ltd:
SLAM is a
project-generating resource company holding an NSR royalty on the
Superjack, Nash Creek and Coulee
zinc-lead-copper-silver properties and owning a portfolio of base
metal and cobalt properties in the Bathurst Mining Camp ("BMC") of
New Brunswick. The Company continues to utilize its extensive
BMC mineral database to explore and develop properties in this
historic region of mineral potential. Other projects include the
Menneval gold project and the Reserve Creek and Miminiska gold
projects in Ontario. 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.
Qualifying Statements: Mike
Taylor, P.Geo. President and CEO of SLAM Exploration Ltd.,
as the Qualified Person, approves the scientific and technical
disclosure in the news release.
Certain information in this press release may constitute
forward-looking information, including statements that
address the Private Placement, the closing of the Private
Placement, 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. Neither the TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this
release.
SOURCE SLAM Exploration Ltd.