SLAM Exploration Ltd. (TSX-V: SXL) ("SLAM") announces drilling results from 10 holes drilled at its wholly owned Nash Creek Project in New Brunswick. All 10 holes were drilled in the new discovery area and demonstrate increasing potential for open-pit mining north of the Nash Creek deposit.

The 10 holes expand the recent discovery with near-surface zinc-lead-silver mineralized zones ranging from 2.0 to 32.28 metres thick. Weighted average grades for selected core intervals are tabulated below.

    <<
      Hole ID      From        To     Metres     Zinc %   Lead %  Silver g/t
      -------      ----        --     ------   ------   ------    ----------
       NC0753     40.50     47.37       6.87     3.85     0.63         19.35
       NC0754     37.50     44.63       7.13     2.03     0.44         19.10
       NC0755     15.00     47.28      32.28     2.98     1.58         32.58
    *NC0755     18.00     29.75      11.75     6.67     2.59         43.87
       NC0756     26.20     42.00      15.80     1.07     0.63          5.64
       NC0757     19.50     31.70      12.20     2.13     0.27         14.03
       NC0758     30.00     50.90      20.90     1.37     0.48          8.13
       NC0760     20.54     28.50       7.96     1.65     0.57         14.81
       NC0761     60.00     62.00       2.00     2.14     1.09         28.36
       NC0762     24.58     27.01       2.43     2.33     0.92         23.75
       NC0763     18.68     23.03       4.35     3.49     0.94         20.27

    * The high grade intercept in Hole 55 was previously reported
        25 September 2007.
    >>

Additional information including maps and core pictures are available for viewing at: http://www.slamresources.com/index.cfm?page=projects-NashCreek

Currently, the drill is testing an area of mineralization 450 metres north of the deposit. SLAM has completed 7,500 metres of drilling in 65 holes since the program started in May 2007. Assays are pending on 35 additional holes drilled in the new discovery area. The discovery 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. Approximately 30 more drill holes are planned to complete the 10,000 metre drill program announced in May, 2007. With $4M cash on hand, SLAM has adequate funds to complete this drilling.

Other work in progress includes metallurgical testing. SLAM plans to follow up the current drilling program with an independent resource estimate in an updated 43-101 report. This is expected to lead into a feasibility study for mining and milling at Nash Creek.

The Nash Creek deposit has 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 as announced 10 July 2007. SLAM expects the results from approximately 100 holes to be completed within the current 10,000 metre drilling program to substantially expand the estimated resource. The resource calculation and other information regarding the deposit are described in a Technical Report filed 27 August 07 at www.sedar.com.

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. Selected core samples from hole NC07-55 were analyzed at Polymet Resources of Cobalt Ontario as part of metallurgical testing being undertaken by RPC of Fredericton, New Brunswick. Lab procedures were similar with Polymet using aqua regia digestion with AA finish for zinc and lead and fire assay for silver.

SLAM Exploration Ltd. is a mineral resource company based in Miramichi, New Brunswick. It is involved in base metal exploration in New Brunswick including the world class Bathurst Mining Camp 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