Dear Shareholder,

The following response has been provided by SLAM management regarding your question of financing and exploration:

1. I'm curious if management has a plan in place should no financing be available for the next year or so (which is not far fetched in current times)

Since incorporation in 1996, SLAM has weathered tough markets and has demonstrated an ability to cut back and conserve our assets. We have a plan to cut costs and work on reduce budget for the next 12 months. Our budget and expenditures will reflect the current market conditions and the availability of capital.

2. How is the current trenching program being funded?

We had a budget for drilling at Lewis Brook as well as some funds that were un-allocated in our budget for 2008. After the new discovery, we set these funds aside for TSN. The revised budget covers a trenching program to source the boulders and to test the associated conductors and magnetic trends. This program has potential for big rewards from relatively modest expenditures.

The budget for the remainder of 2008 will cover the TSN trenching; the completion of assays and technical reports for Costigan and the independent resource estimate and 43-101 Technical Report being completed by Wardrop Engineering on the Nash Creek deposit. These items were discussed in the MD&A portion of our recently filed quarterly report available on SEDAR.

Sincerely,

AGORACOM IR