FINANCING

http://www.slamresources.com/PDF/SLAM-10Sept09-Finance.pdf

(TSX-V: SXL) (“SLAM”) announces a nonbrokered

private placement consisting of 12,000,000 flow-through units (FT Units) at a price of

$0.11 per flow-through unit for total gross proceeds of $1,320,000. Each FT Unit consists of one

flow-through common share and one common share warrant (“Warrant"). Each Warrant entitles

the holder to acquire one non-flow-through common share at a price of $0.15 per share for a

period of 12 months and at a price of $0.25 for an additional 12 months, expiring 24 months after

issuance. SLAM expects to close on or about September 14. This private placement remains

subject to final approval of the TSX Venture Exchange.

Proceeds of the private placement will be used mainly to fund drilling and related activities on

SLAM’s wholly owned Reserve Creek gold project in Ontario. SLAM recently drilled bonanza old

grades over significant core lengths as reported by news release 17 August 2010. Up to 10% of

the funds may be allocated to the Silverjack project where SLAM drilled spectacular silver-

leadzinc-copper intercepts in New Brunswick early in 2010 (news release 16 February 2010).

SLAM is a mineral resource company based in Miramichi, New Brunswick. The Company

continues to be active in gold and base metal exploration in Ontario and New Brunswick and has

recently reported rare earth minerals at Nash Creek. Additional information about SLAM and its

projects is available at

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