EQTY.V · 2022-09-08 12:00:00

Equity Drilling Extends High-Grade Mineralization at Camp and Sveinson Targets, Silver Queen Au-Ag Project, BC; Updated Mineral Resource Estimate, Early Q4/22

Drill Results Resource Estimates

Equity Drilling Extends High-Grade

Mineralization at Camp and Sveinson Targets,

Silver Queen Au-Ag Project, BC; Updated

Mineral Resource Estimate, Early Q4/22

Vancouver, British Columbia--(Newsfile Corp. - September 8, 2022) -

Equity Metals Corporation

(TSXV: EQTY) ("Equity")

reports high-grade gold-silver intercepts in a step-out drill hole that extends

mineralization at the Camp Vein target along strike to the west and remains open ended in that direction.

This, and two drill holes which tested a portion of the Sveinson target, were completed as part of a

limited 1,500-metre drill program in June 2022 at the Company's 100% owned Silver Queen project in

northwestern British Columbia.

Drillhole SQ22-078 is a 50-metre step-out of the Camp Vein target and intersected three main clusters

of veins, two which returned highlight intercepts including:

1.3 metre

interval grading

9.3g/t Au

1,998g/t Ag, 0.17% Cu, 2.2% Pb

and

6.8% Zn (41.8g/t

AuEq or 3,136g/t AgEq)

within

7.5 metre

interval averaging

1.8g/t Au, 539g/t Ag

, 0.5% Pb

and

1.8% Zn (10.4g/t AuEq or 778g/t AgEq);

and

0.4 metre

interval grading 0.2g/t Au,

2,313g/t Ag

, 1.2% Pb and 1.0% Zn

(32.2g/t AuEq or

2,411g/t AgEq)

within

6.8 metre

interval averaging

156g/t Ag,

0.1% Pb and 0.1% Zn

(2.2g/t

AuEq or 166g/t AgEq).

Two additional holes tested the full 200-metre width of the Sveinson target near the transition to the

Camp target. Multiple veins were intersected including:

0.4 metre

interval grading

653g/t Ag

1.3g/t Au, 7.3% Cu,

0.1% Pb and 0.4% Zn

(19.5g/t AuEq

or 1,462g/t AgEq)

within

1.6 metre

interval averaging

232g/t Ag, 0.8g/t Au, 3.3% Cu,

0.1% Pb

and 0.4% Zn

(8.7g/t AuEq or 649g/t AgEq)

from drillhole

SQ22-076.

Several other intercepts, although narrow, continue to confirm the continuity, and in some cases depth

projection, of at least three different vein sets that project through the Sveinson target (see Figure 2).

VP Exploration Rob Macdonald commented,

"The identification of such strong gold-enrichment in the

Camp Vein target, which has traditionally returned higher silver values relative to gold, is a significant

milestone. Not only are the projections of three separate veins open to the west and at depth, but the

added gold-enrichment further enhances the overall exploration potential of these vein extensions for

future drill testing. This is noteworthy as none of the Camp Vein mineralization was included in the

Company's 2019 Resource."

President Joe Kizis commented,

"Equity continues to advance and de-risk our flagship Silver Queen

property with a focus on discovering additional high-grade precious metal ounces, where our geologic

modeling continues to guide us to impressive results. Drilling in 2021-22 has now tested a 1.25

kilometre strike-length of the Camp and Sveinson vein systems to depths of up to 350 metres below

surface.

Modelling of the Camp veins and western extent of the Sveinson veins continues, which

along with additional metallurgical test work that was completed over the last several months will be

used to update the Mineral Resource Estimate on the property due in early Q4 2022. New exploration

drilling on the property will continue to delineate and infill the Sveinson veins as they project eastward

and on several other new vein targets throughout the property."

Figure 1: Plan Map of targets on the Silver Queen vein system, BC

To view an enhanced version of Figure 1, please visit:

https://images.newsfilecorp.com/files/5566/136255_e2a9ed9484fed96c_002full.jpg

Figure 2: Inset plan view of the Camp-Sveinson Targets showing AgEq values in assays. Note

the multiple veins identified through the Camp and Sveinson targets.

To view an enhanced version of Figure 2, please visit:

https://images.newsfilecorp.com/files/5566/136255_e2a9ed9484fed96c_003full.jpg

Table 1: Summary Composites from Spring '22 Drilling on the Camp-Sveinson Targets

Hole #

From

(m)

Interval

(m)

(g/t)

(%)

AuEq

(g/t)

AgEq

(g/t)

Comments

Hole #

(m)

(g/t)

(%)

(g/t)

Comments

SQ22-078

132.5

140.0

7.5

1.8

539

0.05

0.5

1.8

10.4

778

<15% recovery from 137-

140m

inc.

135.8

137.0

1.3

9.3

1998

0.17

2.2

6.8

41.8

3136

SQ22-078

192.2

194.7

2.5

0.0

152

0.00

0.0

0.1

2.1

155

SQ22-078

197.6

204.5

6.8

0.0

156

0.01

0.1

2.2

166

54% Dilution

inc.

204.1

204.5

0.4

0.2

2313

0.07

1.2

1.0

32.2

2411

SQ22-078

280.2

281.5

1.4

0.2

181

0.02

0.8

0.6

3.3

248

SQ22-076

243.9

244.2

0.3

2.3

0.10

3.6

6.5

8.4

629

SQ22-076

399.1

403.8

4.7

0.1

0.38

0.0

0.2

1.1

55% dilution

inc.

402.3

403.8

1.5

0.2

0.56

0.1

1.9

140

SQ22-076

463.9

464.2

0.4

5.6

2.86

0.0

0.1

10.5

789

SQ22-076

479.0

480.6

1.6

0.8

232

3.25

0.1

1.2

8.7

649

41% Dilution

inc.

479.0

479.4

0.4

1.3

653

7.33

0.1

0.4

19.5

1462

SQ22-077

219.3

220.3

1.0

0.0

261

0.03

0.1

0.2

3.7

275

SQ22-077

440.7

443.5

2.8

0.1

0.02

0.4

1.6

1.4

106

SQ22-077

460.7

462.1

1.4

0.2

166

0.54

0.0

0.1

3.1

235

inc.

460.7

461.5

0.8

0.2

201

0.73

0.0

0.1

3.9

290

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.

Composites calculated using a 80g/t AgEq (1g/t AuEq) cut-off and <20% internal dilution, except where noted. Reported intervals are core lengths,

true widths undetermined or estimated. 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 $1,500/oz Au, $20/oz Ag, $2.75/lb Cu, $1.00/lb Pb and $1.10/lb Zn. AuEq

and AgEq calculations did not account for relative metallurgical recoveries of the metals.

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 two historic declines into the No. 3 Vein, camp

infrastructure, and a maintained Tailings Facility.

The Silver Queen Property consists of 45 mineral claims, 17 crown grants, and two surface crown grants

totalling 18,852ha with no underlying royalties. Mineralization is hosted by a series of epithermal veins

distributed over a 6 sq km area. An initial NI43-101 Mineral Resource Estimate was detailed in a News

Release issued on July 16th, 2019 and is hosted by the No. 3 Vein, which is traced by drilling for

approximately 1.2km and then to the southeast where it transitions into the NG-3 Vein close to the buried

Itsit copper-molybdenum porphyry.

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.

About Equity Metals Corporation

Equity Metals Corporation is a Manex Resource Group Company. Manex provides exploration,

administration, and corporate development services for Equity Metals' two major mineral properties, the

Silver Queen Au-Ag-Zn-Cu project,

located in central B.C., and the

Monument Diamond project

located in Lac De Gras, NWT. The Company also has a 1% royalty (Greenwood Royalty) and a 100%

working interest in the La Ronge Silica Project.

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 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. The project owners are Equity Metals Corporation (57.49%), Chris and Jeanne Jennings

(22.11%); and Archon Minerals Ltd. (20.4%). Equity Metals is the operator of the project.

The 100% controlled La Ronge Silica Project is an historic sand quarry located in central Saskatchewan,

approximately 60 kilometers south-southeast of La Ronge, Saskatchewan and 210 kilometers west of

Flin Flon, Manitoba. Preliminary studies indicate the silica deposit may be developed into a simple and

profitable, low-cost mining and washing operation to produce high-purity silica (>98% SiO2), a specialty

product for the EV battery industry.

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/136255

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