Problems compiling latest Asterisk 1.2.11

I am running Slackware 10.1 with kernel version 2.6.17-vs2.1.1-rc27-gentoo #4 SMP x86_64 unknown unknown GNU/Linux

While trying to compile Asterisks, when i entered the make command, it started compiling and after a point had the ff. errors:

ame-pointer -fPIC -c -o codec_gsm.o codec_gsm.c
make -C gsm lib/libgsm.a
make[2]: Entering directory /usr/src/asterisk-1.2.11/codecs/gsm' if [ ! -d ./lib ] ; then mkdir ./lib ; fi gcc -pipe -Wall -Wstrict-prototypes -Wmissing-prototypes -Wmissing-declarations -g3 -Iinclude -I../include -D_REENTRANT -D_GNU_SOURCE -O6 -fomit-frame-pointer -fPIC -c -DNeedFunctionPrototypes=1 -funroll-loops -O6 -march=k8 -fPIC -DSASR -DNDEBUG -DWAV49 -I./inc src/add.c cc1: error: bad value (k8) for -march= switch cc1: error: bad value (k8) for -mcpu= switch make[2]: *** [src/add.o] Error 1 make[2]: Leaving directory/usr/src/asterisk-1.2.11/codecs/gsm’
make[1]: *** [gsm/lib/libgsm.a] Error 2
make[1]: Leaving directory `/usr/src/asterisk-1.2.11/codecs’
make: *** [subdirs] Error 1

Please anyone come across this issue before!!! Thanks.