EQTY.V · 2024-10-01 12:00:00

Equity Continues to Intersect High-Grade Silver on the Camp Deposit and the New Camp North Target; Begins Fall '24 Drilling on the Silver Queen Project, BC

Exploration Programs

Equity Continues to Intersect High-Grade

Silver on the Camp Deposit and the New Camp

North Target; Begins Fall '24 Drilling on the

Silver Queen Project, BC

Vancouver, British Columbia--(Newsfile Corp. - October 1, 2024) -

Equity Metals Corporation (TSXV:

EQTY) ("Equity")

reports today that drilling continues to intersect high-grade mineralization at the

Camp Deposit and the newly identified Camp North target, and continues to delineate veins at the

George Lake target on its 100% owned Silver Queen Au-Ag project, British Columbia.

Assays were returned from three target areas on the property, including additional high-grade intercepts

from the

Camp Deposit

which returned:

0.7 metre

(Est. TT) interval grading

2.7g/t Au

388g/t Ag

2.5%Pb

and

11.3% Zn

(18.4g/t

AuEq or 1,372g/t AgEq)

within a broader

7.5 metre

(est. TT) interval averaging

0.5g/t Au, 63g/t

Ag, 0.1% Cu, 0.5% Pb and 2.3% Zn (3.4g/t AuEq or 255g/t AgEq)

in drillhole

SQ24-125.

Drilling confirms lateral continuity over a 90m strike length in a new hangingwall vein segment of the

Camp Deposit, which was initially discovered in 2023 drilling but not included in the 2022 Mineral

Resource update of the property. The mineralization is shallow, less than 50m below surface, and is

open both laterally and at depth. Assays are pending from four drill holes that tested the Camp vein in the

Summer '24 program. Only partial assays have been received from three of those holes and additional

assays are anticipated over the coming weeks.

Strongly precious metal-enriched mineralization was also identified in a new discovery located 300m to

the north of the

Camp Deposit

. Drilling at the

Camp North Target

returned:

1.8 metre

(downhole thickness) interval averaging

0.4g/t Au

210g/t Ag

3.2%Pb

and

7.4% Zn

(10.2g/t AuEq or 761g/t AgEq)

within a broader

8.6 metre

(downhole thickness) interval

averaging

0.2g/t Au, 67g/t Ag, 1.0% Pb and 4.2% Zn (4.7g/t AuEq or 352g/t AgEq)

in drillhole

SQ24-128

This is the first reported intercept from this new discovery. Mineralization is open both vertically and

laterally for future targeting. Two holes tested the target as part of the 2024 drill program and further

assays are pending from both holes.

Additional assays were also returned from the

George Lake target

which include:

0.3 metre

(est. TT) interval grading

1.8g/t Au, 197g/t Ag, 5.4% Pb

and

9.7% Zn

(14.8g/t AuEq

or 1,102g/t AgEq)

in drillhole

SQ24-116

; and

0.3 metre

(est. TT) interval grading

0.8g/t Au

90g/t Ag, 2.6% Pb

and

11.8% Zn (12.5g/t AuEq

or 928g/t AgEq)

within a thicker

1.0 metre

(est TT) interval averaging

0.3g/t Au, 24g/t Ag,

0.7%Pb

and

5.0% Zn (4.8g/t AuEq or 356g/t

AgEq) in drillhole

SQ24-119

Modelled vein intercepts in the George Lake zone form clusters of relatively narrow gold and silver-

enriched, northwest-trending polymetallic veins. Thicker vein intercepts occur in the north-west segment

of the zone in the area of the historic Bulkley Cross-cut workings. Two prominent veins sets have been

identified in the 3D modelling. Further assay results are anticipated, which will be used to assist drill

targeting in the Fall'24 drilling on the property.

VP Exploration Rob Macdonald commented, "These new assays continue to highlight the exploration

potential of the area of Camp Deposit. We are encouraged by the thickness of the mineralized

intervals in both the Camp and Camp North drilling and both targets remain open for resource

expansion. Drilling has re-commenced with a focus on the brand-new No.3 Vein North area for the

Fall '24 program. With further assays pending from the Summer '24 drilling, shareholders can look

forward to continuous news flow into 2025."

New Drilling – No. 3 Vein North

The Company also reports that drilling has recommenced as part of its 2024 exploration program on the

Silver Queen property. Up to 5,000m of new drilling is planned on the No. 3 Vein North target during the

Fall '24 program. This is a new target area for the Company, which extends to the northwest from the No.

3 Vein deposit. The No. 3 Vein Deposit and its southeast extension into the NG-3 deposit are the largest

deposits identified on the property and contain up to 66% of the current mineral resources on a AgEq

basis.

No. 3 Vein North area has seen historical drilling and limited underground development, but little

historical mining.

Initial drilling will test the immediate northwest extension of the No. 3 Vein, confirm the

width and tenor of historical drill intercepts in the area, and test for expansion of mineralization in the

immediate area of the historical workings (see Figure 2).

Twenty-four core holes totalling 10,543 metres were completed as part of Equity's Summer '24

exploration program, which includes 18 drill holes totalling 7,541 metres at the George Lake target, four

drillholes totalling 2,687 metres at the Camp target, and two holes totalling 975 metres at the Camp

North target. Complete assay results have been reported for 15 holes and partial results returned for four

additional holes with the balance of assays yet to come.

Figure 1: Plan of Silver Queen project area

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/5566/224937_afa41310445a29ca_002full.jpg

Figure 2: Longitudinal Section of the No. 3 Vein North target, looking northeast, showing

proposed drill targeting for the upcoming Fall '24 drill program on the Silver Queen property

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/5566/224937_afa41310445a29ca_003full.jpg

About Silver Queen Project

The Silver Queen Project is a premier gold-silver property with over 100 years of historic exploration and

development and is located adjacent to power, roads and rail with significant mining infrastructure that

was developed under previous operators Bradina JV (Bralorne Mines) and Houston Metals Corp. (a

Hunt Brothers company). The property contains an historic decline into the No. 3 Vein and the George

Lake Vein, camp infrastructure, and a maintained Tailings Facility.

The Silver Queen Property consists of 46 mineral claims, 17 crown grants, and two surface crown grants

totalling 18,871ha with no underlying royalties. Mineralization is hosted by a series of epithermal veins

distributed over a 6 sq km area. An updated NI43-101 Mineral Resource Estimate with effective date

December 1st, 2022 was detailed in a News Release issued on Jan 16, 2023, which can be found by

clicking

here

and the full Technical Report can be found on SEDAR+ (

www.sedarplus.ca/

) and the

Company's website.

More than 20 different veins have been identified on the property, forming an extensive network of zoned

Cretaceous- to Tertiary-age epithermal veins. The property remains largely under-explored.

Table 1: Select Currently Reported Composites from 2024 Drilling on the George Lake Target

Hole #

From

(m)

Interval

(m)

ETT

(m)

(g/t)

(%)

AuEq

(g/t)

AgEq

(g/t)

Comments

Camp Deposit

SQ24-125

58.0

66.5

8.5

7.5

0.5

0.1

0.5

2.3

3.4

255

inc.

61.7

63.6

1.9

1.7

1.5

217

0.4

1.4

7.5

11.2

835

inc.

61.7

62.5

0.8

0.7

2.7

388

0.6

2.5

11.3

18.4

1372

ASSAYS

PENDING

Camp North Target

SQ24-128

282.0

290.6

8.6

UNK

0.2

0.0

1.0

4.2

4.7

352

inc.

282.0

283.7

1.6

UNK

0.4

0.0

0.9

8.3

7.9

591

and inc.

287.6

289.4

1.8

UNK

0.4

210

0.0

3.2

7.4

10.2

761

ASSAYS

PENDING

George Lake Target

SQ24-114

204.7

207.2

2.5

1.6

0.1

0.0

0.1

1.9

1.7

124

56% Dilution

inc.

206.5

207.2

0.7

0.5

0.3

0.0

0.1

5.0

4.2

312

SQ24-114

321.9

322.7

0.8

0.5

0.1

0.0

0.6

3.3

3.1

230

inc.

322.3

322.7

0.4

0.3

0.2

0.0

0.8

5.3

4.9

366

SQ24-114

503.7

504.2

0.5

0.3

1.5

213

0.9

1.9

7.7

572

SQ24-115

274.0

274.4

0.4

0.3

1.3

263

0.5

1.8

3.4

9.0

667

SQ24-115

290.4

290.9

0.6

0.4

0.9

0.0

0.3

8.2

7.6

567

SQ24-115

429.1

430.8

1.8

1.3

0.7

0.0

0.2

2.8

3.4

253

inc.

429.1

429.5

0.4

0.3

1.3

0.1

0.4

6.6

7.4

548

SQ24-115

449.5

449.9

0.4

0.3

2.5

0.1

1.5

3.4

6.4

473

SQ24-116

29.1

29.5

0.4

0.3

1.8

197

0.4

5.4

9.7

14.8

1102

SQ24-117

268.4

269.5

1.1

0.7

3.4

0.0

0.3

6.8

8.9

663

SQ24-117

338.2

341.8

3.6

2.3

0.7

0.1

0.4

1.0

2.2

166

37.5%

Dilution

inc.

338.2

339.7

1.4

0.9

1.5

0.2

0.3

1.1

3.5

260

SQ24-118

83.1

83.9

0.9

0.5

1.4

0.0

0.3

4.5

5.2

384

SQ24-118

345.3

346.2

0.9

0.5

0.3

0.1

1.6

2.4

179

SQ24-119

89.7

91.2

1.5

1.0

0.3

0.1

0.7

5.0

4.8

356

inc.

90.8

91.2

0.4

0.3

0.8

0.3

2.6

11.8

12.5

928

SQ24-119

133.8

135.4

1.6

1.1

0.8

106

0.1

0.3

0.9

3.1

234

inc.

133.8

134.3

0.5

0.4

0.5

270

0.1

0.5

2.1

6.0

449

SQ24-119

178.2

179.8

1.6

1.1

1.3

0.0

0.4

1.2

2.5

189

Notes: drill core samples were analyzed by FA/AAS for gold and 48 element ICP-MS by MS Analytical, Langley, BC. Silver (>100ppm), copper, lead

and zinc (>1%) overlimits assayed by ore grade ICP-ES analysis, High silver overlimits (>1000g/t Ag) and gold overlimits (>10g/t Au) re-assayed with

FA-Grav. Silver >10,000g/t re-assayed by concentrate analysis, where a FA-Grav analysis is performed in triplicate and a weighed average

reported. Downhole composites calculated using a 80g/t AgEq (1g/t AuEq) cut-off and <20% internal dilution, except where noted. Accuracy of

results is tested through the systematic inclusion of QA/QC standards, blanks and duplicates into the sample stream. AuEq and AgEq were

calculated using prices of $1,800/oz Au, $22/oz Ag, $3.50/lb Cu, $0.95/lb Pb and $1.30/lb Zn. AuEq and AgEq calculations utilized relative

metallurgical recoveries of

Au 70%, Ag 80%, Cu 80%, Pb 81% and Zn 90%.

About Equity Metals Corporation

Equity Metals Corporation is a member of the Malaspina-Manex Group. The Company owns 100%

interest, with no underlying royalty, in the

Silver Queen project,

located along the Skeena Arch in the

Omineca Mining Division, British Columbia. The property hosts high-grade, precious- and base-metal

veins related to a buried porphyry system, which has been only partially delineated. The Company also

has a controlling JV interest (57.49%) in the

Monument Diamond project

NWT

, strategically located

in the Lac De Gras district within 40 km of both the Ekati and Diavik diamond mines.

Robert Macdonald, MSc. P.Geo, is VP Exploration of Equity Metals Corporation and a Qualified Person

as defined by National Instrument 43-101. He is responsible for the supervision of the exploration on the

Silver Queen project and for the preparation of the technical information in this disclosure.

On behalf of the Board of Directors

"Joseph Anthony Kizis, Jr."

Joseph Anthony Kizis, Jr., P.Geo

President, Director, Equity Metals Corporation

For further information, visit the website at

https://www.equitymetalscorporation.com

; or contact us at

604.641.2759 or by email at

[email protected]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this

release. This news release may contain forward-looking statements. Forward-looking statements

address future events and conditions and therefore involve inherent risks and uncertainties. Actual

results may differ materially from those currently anticipated in such statements. Factors that could

cause actual results to differ materially from those in forward-looking statements include the timing

and receipt of government and regulatory approvals, and continued availability of capital and

financing and general economic, market or business conditions.

Equity Metals Corporation does not

assume any obligation to update or revise its forward-looking statements, whether as a result of new

information, future events or otherwise, except to the extent required by applicable law.

To view the source version of this press release, please visit

https://www.newsfilecorp.com/release/224937

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