cnw






Additional Funds for Drilling Gold, Silver and Base Metal Deposits




TSXV: SXL US-OTC: SLMF


Not for Distribution to U.S. Newswire Services or for Dissemination in
the United States


MIRAMICHI, NB, May 31, 2011 /CNW/ - SLAM Exploration Ltd. (TSXV:SXL) (US-OTC: SLMF) ("SLAM") is announces a non-brokered private placement of 1,200,000 flow-through
units (the "Units") at a price of $0.125 per Unit for gross proceeds of
$150,000 (the "Offering"). Each Unit will be comprised of one common
share in the capital stock of SLAM issued on a flow-through basis
("Common Share") and one-half (1/2) of one Common Share purchase warrant
("Warrant"). Each whole Warrant will entitle the holder thereof to
acquire one non-flow-through Common Share at a price of $0.18 per
Common Share for a period of 12 months and at a price of $0.36 per
Common Share for an additional 12 months thereafter, expiring 24 months
after the date of issuance. The Units are subject to a four-month and
one day hold period from the date of closing.


SLAM expects to close this Offering on or around on June 6th, 2011. The proceeds of the Offering will be used to fund exploration on
SLAM's gold, silver and base metal projects in Canada. The Offering is
subject to the approval of the TSX Venture Exchange ("TSXV"). For
further information please call Mike Taylor at 506-627-1353 or
toll-free at 866-523-6719.









About SLAM Exploration Ltd:



SLAM is a mineral resource company based in Miramichi, New Brunswick and
is exploring for gold in Ontario and for silver-copper-lead-zinc in New
Brunswick. Additional information about SLAM and its projects is
available website





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.