EQTY.V · 2022-02-03 12:00:00

Equity Intersects Shallow, High-Grade Gold- Silver, Including 0.5 Metres of 13.8g/t Au, 321g/t Ag, 0.8% Cu, 1.6% Pb and 12.4% Zn (1,956g/t AgEq) in New Drilling on the Eastern Sveinson Target, Silver Queen Project, BC

Drill Results

Equity Intersects Shallow, High-Grade Gold-

Silver, Including 0.5 Metres of 13.8g/t Au,

321g/t Ag, 0.8% Cu, 1.6% Pb and 12.4% Zn

(1,956g/t AgEq) in New Drilling on the Eastern

Sveinson Target, Silver Queen Project, BC

Vancouver, British Columbia--(Newsfile Corp. - February 3, 2022) -

Equity Metals Corporation

(TSXV: EQTY)

("Equity")

reports drill results from the eastern portion of the Sveinson target on the

Silver Queen property, BC. Additional assays are pending for the western portion of the Sveinson target

and are expected in the coming weeks. The Sveinson target consists of a series of east-west striking

veins that lie between the No. 3 and Camp targets. The new holes returned multiple high-grade gold-

silver-polymetallic intercepts, including:

0.5 metre

interval grading

13.8g/t Au

321g/t Ag,

0.8% Cu,

1.6% Pb and

12.4% Zn (1,956g/t

AgEq)

within

1.6 metre

interval averaging

5.1g/t Au, 120g/t Ag,

0.3% Cu,

0.8% Pb and

4.0%

Zn (711g/t AgEq)

from drill hole

SQ21-051;

and

2.3 metre

interval grading

2.8g/t Au

, 37g/t Ag, 1.7% Pb and

5.9% Zn (538g/t AgEq)

within

5.3 metre

interval averaging

1.9g/t Au,

23g/t Ag,

1.0% Pb and

3.2% Zn (324g/t AgEq)

from drill

hole

SQ21-052

The drill intercepts are from the first six of twelve core holes which tested the eastern half of the 1-

kilometre long Sveinson target during the Fall of 2021 (see Figures 1 and 2). Drilling was widely spaced,

but successfully intersected multiple shallow veins at less than 100 metres below surface, as well as

several deeper vein intercepts at over 350 metres below surface. Veins were intersected across the full

150-metre width of the Sveinson structural zone, with preliminary 3D modeling indicating continuity

between holes.

The Sveinson target is a broad east-west-trending structural zone which forms the transition from the

strongly silver-enriched Camp target to the west into the gold-enriched southern portion of the No. 3

target to the east. Four separate veins, initially modelled from the Camp target, project into the Sveinson

target and are primary targets of this most recent drill testing.

VP Exploration Rob Macdonald commented,

"The identification of several new shallow veins in drilling

on the eastern Sveinson target helps confirm the lateral projection of mineralized structures from the

2019 Resource contained in the No. 3 vein westward to the Company's recent resource-delineation

drilling at the Camp Vein target. Assays from the western Sveinson target are pending, and

mineralization remains open both laterally and at depth for further drill testing in 2022."

Winter drilling is underway on the NG-3 Vein system, located east of the No. 3 target. Up to nine holes,

totaling 4000 metres, are planned for the NG-3 and other targets during this phase.

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

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

https://orders.newsfilecorp.com/files/5566/112506_equitymetals1.jpg

Figure 2: Longitudinal View of the Eastern Sveinson Target

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

https://orders.newsfilecorp.com/files/5566/112506_equitymetals2.jpg

Table 1: Summary Composites from September2021 Drilling on the Sveinson Target.

Hole #

From

(m)

Interval

(m)

(g/t)

(%)

AuEq

(g/t)

AgEq

(g/t)

SQ21-050

189.2

190.5

1.3

1.5

111

0.4

1.3

6.0

7.1

535

inc.

189.8

190.2

0.4

2.2

115

0.3

3.5

11.0

11.1

834

SQ21-050

232.6

233.5

1.0

2.3

0.2

1.1

8.2

7.9

589

inc.

232.8

233.1

0.3

3.8

0.4

3.8

19.8

16.7

1251

SQ21-050

279.4

279.7

0.4

1.2

0.0

2.4

6.0

5.9

446

SQ21-051

248.2

249.6

1.4

0.8

0.0

1.6

2.0

2.8

210

inc.

249.4

249.6

0.3

0.7

0.1

6.5

5.7

7.2

537

SQ21-051

270.0

273.8

3.8

0.5

0.0

1.4

3.2

238

inc.

270.3

271.4

1.1

1.0

0.1

2.2

7.5

6.5

487

SQ21-051

343.3

344.5

1.1

0.8

0.0

0.7

1.9

2.4

178

SQ21-051

414.2

414.5

0.4

2.0

172

0.1

4.5

6.6

9.9

740

SQ21-052

224.7

230.0

5.3

1.9

0.0

1.0

3.2

4.3

324

inc.

224.7

227.0

2.3

2.8

0.1

1.7

5.9

7.2

538

SQ21-052

305.6

306.6

1.0

0.1

1.2

1.3

3.1

231

SQ21-053

137.8

139.4

1.6

5.1

120

0.3

0.8

4.0

9.5

711

inc.

138.2

138.6

0.5

13.8

321

0.8

1.6

12.4

26.1

1956

SQ21-054

154.8

156.2

1.4

1.0

0.0

0.1

0.2

1.9

142

SQ21-054

221.6

222.1

0.5

1.7

0.4

2.4

13.3

10.9

814

SQ21-054

392.1

393.2

1.0

3.0

0.1

0.2

5.4

7.0

528

SQ21-055

129.2

131.0

1.8

0.8

0.0

0.1

1.0

1.5

114

SQ21-055

165.1

166.4

1.3

0.9

0.1

2.8

4.6

344

SQ21-055

173.6

175.4

1.8

0.6

0.3

0.2

3.3

3.1

230

SQ21-055

231.8

232.8

1.0

0.7

1.2

0.0

0.1

2.7

199

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 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 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 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 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/112506

← Back to feed