SLAM Exploration Ltd. (TSX-V: SXL) ("SLAM") announces drilling results from 10 additional holes drilled at its wholly owned Nash Creek Project in New Brunswick. All 10 holes encountered mineralization ranging from 1.66 to 40.97 metres thick within the new discovery area. This discovery is an extension of "the Hickey Zone" an area of near-surface mineralization detected by previous workers north of the main deposit. Weighted average grades, as tablulated below, continue to demonstrate the potential for open-pit mining at Nash Creek.

    <<
    Hole ID       From         To     Metres    Zinc %    Lead %  Silver g/t
    -------       ----         --     ------    ------    ------  ----------
    NC0764       12.00      30.50      18.50      1.30      0.48       17.57
    NC0765       27.00      36.37       9.37      1.95      0.36       13.38
    NC0766       27.50      34.30       6.80      1.74      0.23        9.87
    NC0767       53.75      72.71      18.96      1.75      0.39       16.08
    NC0768       24.50      65.47      40.97      2.21      1.84       24.27
    NC0769        9.50      27.10      17.60      2.60      0.52       24.71
    NC0770       23.60      42.30      18.70      1.62      0.21       11.35
    NC0772       11.52      13.18       1.66      2.82      1.03       22.37
    NC0773       87.50      93.60       6.10      3.15      0.61       17.77
    NC0774      148.50     155.00       6.50      1.79      0.48       14.16
    >>

The drilling results from the Hickey Zone are expected to substantially expand the estimated tonnage at Nash Creek. Although there is potential for huge tonnage within the extensive, flat-lying zone of alteration and conductivity, the immediate target is 10M tonnes. This size deposit could support a potential 3,000 tonne per day mining and milling operation for 10 years. Since SLAM expects to reach this target soon, metallurgy studies are in progress. SLAM is negotiating contracts for environmental testing and other pre-feasibility work. SLAM will update the Nash Creek resource with an independent 43-101 Technical Report early in 2008.

As reported 10 July 2007, the deposit comprises an indicated resource of 3.24M tonnes grading 4.67% zinc, 0.80% lead and 27.8 g/t silver plus an additional inferred resource of 2.69M tonnes grading 3.65 % zinc, 0.77% lead and 20.0 g/t silver. The resource calculation and other information described in a Technical Report filed 27 August 07 at www.sedar.com. Additional information including maps and core pictures are available for viewing on-line at: http://www.slamresources.com/index.cfm?page=projects-NashCreek

The Hickey Zone is spatially associated with gravity and intermittent zinc-lead-silver soil anomalies trending 2,000 metres northward from the deposit over an approximate width of 500 metres. The drill is now testing the eastern flank of this discovery. Assays are pending on 30 more holes already drilled and approximately 20 more drill holes are planned to complete the 10,000 metre drill program started in May 2007. With $4M cash on hand, SLAM has adequate funds to expand this drilling program and to complete drilling on its Ontario gold properties as well.

Derek F. Brown P.Geo., SLAM's Exploration Manager, is the Qualified Person, as defined under National Instrument 43-101, responsible for management of the Nash Creek project and drilling results reported in this news release. Drill cores were delivered from the drill to a secure site for logging and sampling. Selected drill cores were sawn with one half sent for assay and one half retained for reference. Most samples were sent to Accurassay Laboratories of Thunder Bay for ore grade assay. The Company inserted blank samples at selected intervals and relied on Accurassay's system of standards and duplicate samples for quality assurance and control. Accurassay used aqua regia digestion with AA finish for zinc, lead and silver.

SLAM Exploration Ltd. is a mineral resource company based in Miramichi, New Brunswick. It is involved in base metal exploration in New Brunswick as well as gold exploration in the Uchi sub-province of northwest Ontario. Additional information about SLAM and its projects is available at www.slamexploration.com or from sedar filings at www.sedar.com. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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 facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company 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

SOURCE: Slam Exploration Ltd.

Mike Taylor, President & CEO, (506) 627-1353, miketaylor@slamexploration.com; Bob Smylie, Investor Relations, Toll-Free 866-523-6719, request@slamexploration.com