EQTY.V · 2023-06-06 12:00:00

Equity Expands the Western Camp Vein with Intercepts Including 0.8 Metres of 1,952g/t Ag, 0.1% Pb and 0.2% Zn (24.1g/t AuEq or 1,971g/t AgEq) Within a Wider Interval at the Silver Queen Project, BC

Drill Results

Equity Expands the Western Camp Vein with

Intercepts Including 0.8 Metres of 1,952g/t Ag,

0.1% Pb and 0.2% Zn (24.1g/t AuEq or 1,971g/t

AgEq) Within a Wider Interval at the Silver

Queen Project, BC

Vancouver, British Columbia--(Newsfile Corp. - June 6, 2023) -

Equity Metals Corporation (TSXV:

EQTY) ("Equity")

reports today new assays from its Spring 2023 core drilling program on the

Company's 100% owned Silver Queen Ag-Au project, located in central British Columbia. The new

assays continue to extend mineralization on the west side of the Camp Vein Deposit and confirm blind,

hangingwall mineralization north of the main vein set.

Drill highlights include:

0.8 metre

(est. TT)

interval beginning at 463.5m grading

1952g/t Ag

, 0.1% Pb and 0.2% Zn

(24.1g/t AuEq or 1971g/t AgEq)

within

1.7 metre

interval averaging

926g/t Ag

0.1% Pb and

0.7% Zn

(11.8g/t AuEq or 964g/t AgEq)

from drillhole

SQ23-080;

and

0.5 metre

(est. TT)

interval beginning at 463.1m grading

490g/t Ag, 1.2% Pb

and

2.4% Zn

(7.8g/t AuEq or 641g/t AgEq)

from drillhole

SQ23-079

These intercepts were returned from one of the more southerly veins within the Camp/Sveinson vein

system and represent a 270 metre down-dip and a 140 metre lateral step-out from previous drilling. The

intercept in drill hole SQ23-080 is the deepest bonanza-grade silver intercept identified in the

Camp/Sveinson vein system to date and reflects the continued exploration potential both at depth and

laterally to the west within the southerly vein set.

Shallow gold and base metal -rich mineralization intersected beginning at 30.5m depth in the upper part

of drill hole SQ23-080 is similar to that reported earlier from hole SQ23-079 and confirms a shallow,

blind target in the hanging wall, north of the main vein set.

Nine holes totalling 4,038 metres were completed in the Spring 2023 drill program, testing the westward

strike extensions of the Camp Target and a drilling gap within the Sveinson Target (see Figure 2). Final

assays have been received from only two of the nine holes and additional assays are anticipated over

the coming weeks.

A short surface soil sampling program is underway on the property and drilling is set to resume mid-June

to test the George and Cole Lake vein targets. The George and Cole Lake veins have been partially

tested by historical drilling, which identified several hundred metres of strike length at each target that

projects to between 200 metres and 400 metres depth, respectively. Neither target has yet been

incorporated into the 43-101 Mineral Resource Estimate of the property.

VP Exploration Rob Macdonald commented,

"The identification of both shallow hangingwall

mineralization to the north of earlier discoveries and the deeper bonanza-grade intercepts in the south

vein suggest a significantly wider and more extensive target zone than that identified by initial drilling

on the Camp Vein Target. Mineralization remains open both laterally and to depth and will be tested

in upcoming drill programs. New drilling will start in the coming days as the Company continues the

work of systematic resource expansion on the property."

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

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

https://images.newsfilecorp.com/files/5566/168856_4f78ef3b348e29b2_002full.jpg

Figure 2: Plan of the Camp/Sveinson targets showing both recent drilling and mineralized

solids used to define the deposit

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

https://images.newsfilecorp.com/files/5566/168856_4f78ef3b348e29b2_003full.jpg

Table 1: Summary Composites from Spring '23 Drilling on the Camp-Sveinson Targets

Hole #

From

(m)

Interval

(m)

ETT

(m)

(g/t)

(%)

AuEq

(g/t)

AgEq

(g/t)

New Assays

SQ23-079

463.1

464.2

1.0

0.5

0.2

490

0.02

1.2

2.4

7.8

641

SQ23-080

30.5

30.7

0.3

0.1

1.0

0.30

0.2

18.6

11.4

935

SQ23-080

36.0

36.6

0.6

0.2

0.9

0.21

3.6

4.4

5.5

454

SQ23-080

219.9

220.3

0.4

0.2

0.3

0.03

1.4

2.1

2.5

203

SQ23-080

461.7

465.0

3.3

1.7

0.0

926

0.04

0.1

0.7

11.8

964

inc.

463.5

465.0

1.5

0.8

0.0

1952

0.07

0.1

0.2

24.1

1971

Previously Reported

SQ23-079

29.3

35.3

6.0

2.6

0.6

0.1

1.1

4.3

3.6

291

inc.

30.7

33.5

2.8

1.2

1.0

0.1

1.3

7.0

5.6

460

SQ23-079

150.4

150.9

0.5

0.2

0.0

276

0.0

0.1

0.2

3.6

291

SQ23-079

201.0

202.5

1.5

0.6

0.0

0.1

0.5

1.1

SQ23-079

209.2

214.0

4.8

2.1

0.1

308

0.0

1.3

2.2

5.5

446

inc.

209.2

210.2

1.0

0.5

0.3

331

0.1

3.7

8.6

10.1

823

and inc.

212.7

213.3

0.6

0.3

0.1

1462

0.0

2.8

0.7

19.3

1581

SQ23-079

302.0

302.5

0.5

0.2

0.0

1.6

3.4

2.8

229

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 $1,800/oz Au, $22/oz Ag, $3.50/lb Cu, $0.95/lb Pb and $1.30/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 an historic decline 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 updated NI43-101 Mineral Resource Estimate with effective date

December 1

, 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 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.

About Equity Metals Corporation

Equity Metals Corporation is a Malaspina-Manex Group Company. 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.

The Company also has

royalty and working interests in other Canadian properties, which are being evaluated further to

determine their value to the Company.

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/168856

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