Equity Metals Announces Non-Brokered Charity/Premium Flow-Through Private Placement
Equity Metals Announces Non-Brokered
Charity/Premium Flow-Through Private
Placement
Vancouver, British Columbia--(Newsfile Corp. - May 15, 2024) -
Equity Metals Corporation
(TSXV:
EQTY) (FSE: EGSD) (OTCQB: EQMEF) ("Equity" or the "Company") announces that it proposes to
undertake a non-brokered Flow-through private placement consisting of 10,500,000 Charity/Premium
flow-through units (FT) at $0.295 for gross proceeds of $3,097,500.
Each FT Unit will be comprised of
one flow-through common share and one-half (0.5) of one non-flow-through warrant. Each whole warrant
entitles the holder thereof to purchase one non-flow-through common share for a period of 3 years at a
price of $0.295.
The proceeds received from the sale of the FT Units will be focused on the initial delineation of two new
targets located to the northeast of, and not included in, the earlier 2022 updated Mineral Resource
estimate on the Silver Queen, gold/silver project, in British Columbia. A +6,000metre drill program is
currently underway and these additional funds allow for drilling to continue well into summer on the Cole
and George Lake veins systems (Figure 1), which have been partially tested by historical and Equity
drilling. In the current program, three core holes have been completed on the George Lake Target, and
samples from two of these holes have been submitted for analyses. Assays are pending and are
anticipated over the coming weeks.
The Company may pay finders' fees comprised of cash and non-transferable warrants in connection with
the Offering, subject to compliance with the policies of the TSX Venture Exchange. All securities issued
and sold under the Offering will be subject to a hold period expiring four months and one day from their
date of issuance. Completion of the Offering and the payment of any finders' fees remain subject to the
receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States of America. The securities have not been and will not be registered
under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may
not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless
registered under the 1933 Act and applicable state securities laws, or an exemption from such
registration is available.
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/5566/209338_335b9bb8b421090a_002full.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, the George Lake
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
st
, 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
.
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.
This news release is not intended for distribution to United States newswire services or
dissemination in the United States.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/209338