Agoracom

December 19, 2007

Miramichi, New Brunswick - SLAM Exploration Ltd. (TSX-V: SXL) (“SLAM”) announces the Company has negotiated, with a single institutional investor, a $1,000,000 non-brokered flow-through private placement to sell 4,000,000 flow-through units at $0.25 per Unit. Each unit shall comprise one flow-through common share ("FT Shares") plus one half share purchase warrant. Each whole such warrant shall be exercisable into one non flow-through common share of the company at an exercise price of $0.50 for a period of two years from closing of the placement.

Finder's fees and finder's warrants may be payable on all or a portion of this offering which is expected to close on or about December 21.

In accordance with applicable securities legislation, the Units will be subject to "hold period" of four months plus one day from the date of issuance of the Units. The gross flow-through proceeds will be renounced for the 2007 income tax year.

The financing and issuance of shares is subject to regulatory approval. The Company will use proceeds from the financing to fund additional drilling and advanced exploration activities at Nash Creek as well as drilling on its Ontario gold properties and its other properties in New Brunswick. Activities planned at Nash Creek include an independent resource estimate, a scoping study, environmental baseline testing as well as engineering and civil work in preparation for a bulk sample to be completed in 2008.

If you would like to receive press releases via email please contact brenda@slamexploration.com

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 & CEOSLAM Exploration Ltd.

SEDAR: 00012459E

CONTACT INFORMATION: Corporate Inquiries

Mike Taylor, President & CEO (506) 627-1353

http://www.slamexploration.com

Investor Relations

Bob SmylieToll Free: (866) 523-6719 Direct: (604) 224-4945

AGORACOM Investor Relations

http://www.agoracom.com/IR/slamexplo...

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to "U.S. Persons" as such term is defined by regulations under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.