False.

Slugs in fact don’t have an actual nose, they have what is called a pneumostome, which allows them to breathe.

“..the slug’s pneumostome. This is like the slug’s nose, and is the hole it breathes out of. The slug has the ability to close this hole.” -All About Slugs

Supporting Links:
Tser’s All About Slugs
Wikipedia – Pneumostome

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