EQTY.V · 2024-12-17 12:00:00

Equity Metals Reports 431g/t AgEq over 7.6 Metres and 710g/t AgEq over 3.3 Metres from Fall Drill Program on the Silver Queen Property, BC

Drill Results Exploration Programs

Equity Metals Reports 431g/t AgEq over 7.6

Metres and 710g/t AgEq over 3.3 Metres from

Fall Drill Program on the Silver Queen

Property, BC

Vancouver, British Columbia--(Newsfile Corp. - December 17, 2024) -

Equity Metals Corporation

(TSXV: EQTY) ("Equity")

reports initial assay results from the Fall '24 drill program on its 100% owned

Silver Queen Au-Ag project, British Columbia and includes new assays from the No. 3 North target.

Sixteen core holes totaling 5,952 metres were completed on the No. 3 North Target from two setups as

part of the Fall '24 drill program. Assay highlights from the first eight holes include:

7.6 metre

(Est. TT) interval grading

1.1g/t Au

42g/t Ag

0.7% Pb

and

4.4% Zn

(431g/t AgEq

or 5.8g/t AuEq)

including a

1.6 metre

(est. TT) interval averaging

2.3g/t Au, 121g/t Ag, 2.7% Pb

and 19.0% Zn (1,475g/t AgEq or 19.8g/t AuEq)

from SQ24-136;

3.3 metre

(Est. TT) interval grading

2.8g/t Au, 66g/t Ag

1.4% Pb

and

6.9% Zn

(710g/t AgEq

or 9.6g/t AuEq)

including a

1.1 metre

(est. TT) interval averaging

4.7g/t Au, 115g/t Ag, 2.7% Pb

and 13.8% Zn (1,341g/t AgEq or 18.0g/t AuEq)

from SQ24-130; and

2.4 metre

(Est. TT) interval grading

0.5g/t Au, 376g/t Ag

0.4% Cu

and

0.1% Zn

(473g/t AgEq

or 6.4g/t AuEq)

from SQ24-131.

These latest assay results have successfully confirmed both the grade and tenor of mineralization

beyond the northern end of the No. 3 Vein resource model. Drilling has identified higher grade gold- and

silver-enriched intercepts both 100 metres below the modelled resource and a further 100 metres

laterally to the northwest (see Figure 2). Intercepts of the No. 3 Vein demonstrate strong continuity in this

latest drilling and several high-grade copper-enriched hangingwall intercepts also show promise and

include

8.6g/t Au

790g/t Ag

and

3.2% Cu

(1,841g/t AgEq or 24.8g/t AuEq)

over

0.3m (ETT) from

SQ24-136

. The historic No. 2 Vein was intersected in several holes (see Table 1) and sits in the footwall

of the main No. 3 Vein intercepts. All of the veins remain open for further delineation and extension.

The No. 3 Vein is the single largest deposit currently identified on the Silver Queen property and with its

southern extension, the NG-3 Vein, account for 65% of the currently modelled mineral resources on a

AgEq basis. Any extensions to the No. 3 Vein remain highly accretive to the current mineral resource.

The updated NI43-101 Mineral Resource Estimate with an effective date of December 1

, 2022 is

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.

VP Exploration Rob Macdonald commented,

"This northern extension of the No. 3 Vein is a new target

area for the Company and drilling from 2024 could potentially extend the projection of the vein system

a further +300 metres to the northwest from what is currently modelled. Mineralization remains open

both laterally and at depth and is immediately adjacent to, and down dip from, existing historic

underground workings, which would likely reduce development costs in an underground mining

scenario.

Further assays from the drilling are pending and are anticipated in the coming weeks.

Figure 1: Plan of Silver Queen project area

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

https://images.newsfilecorp.com/files/5566/234158_fc3162a0e445e826_002full.jpg

Figure 2: No.3 North Longitudinal Section showing historical and 2024 drill intercepts.

Historical Intercepts are semi-transparent.

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

https://images.newsfilecorp.com/files/5566/234158_fc3162a0e445e826_003full.jpg

2024 Drilling

Forty-two core holes totalling 17,209 metres were completed as part of Equity's 2024 exploration

program. Drilling resulted in the delineation of a 550-metre strike-length for mineralization in the George

Lake target and 400-metre strike-length for mineralization in the No. 3 North target, as well as several

extensions of earlier identified veins in the Camp Deposit and a new discovery in the Camp North target.

Assays are pending from the final 10 drill holes from the 2024 exploration season which will be

reported in the coming weeks.

Work in 2025 will continue to incorporate the 2024 drill data into revised exploration and resource

models toward a Mineral Resource update to be prepared in 2025 and further exploration drilling on the

ever-expanding Silver Queen vein system.

Table 1: Select Composites from 2024 Drilling on the No. 3 North Target

Hole #

From

(m)

Interval

(m)

ETT

(m)

(g/t)

(%)

AuEq (g/t)

AgEq (g/t)

Comments

SQ24-129

152.7

154.9

2.2

1.8

0.5

0.1

3.6

270

No. 3 Vein;

50%

Dilution

inc.

154.3

154.9

0.6

0.5

1.7

0.4

9.7

10.4

773

SQ24-130

197.7

199.4

1.7

1.3

1.4

127

1.1

0.0

0.1

4.9

368

No. 3 HW

splay;

32.3%

Dilution

SQ24-130

209.2

213.5

4.2

3.3

2.8

0.1

1.4

6.9

9.6

710

No. 3 Main

Vein

inc.

211.1

213.5

2.4

1.9

4.3

0.1

1.8

9.5

13.6

1013

inc.

211.4

212.8

1.4

1.1

4.7

115

0.1

2.7

13.8

18.0

1341

SQ24-130

334.7

336.3

1.6

1.2

0.1

0.0

0.4

2.9

2.7

201

No. 2 Vein

inc.

335.5

336.3

0.8

0.6

0.1

0.0

0.6

4.5

4.1

308

SQ24-131

166.1

166.5

0.4

0.3

0.2

161

1.7

0.0

0.1

5.1

383

HW Vein

SQ24-131

183.0

186.0

3.0

2.4

0.5

376

0.4

0.0

0.1

6.4

473

No. 3 Vein

SQ24-131

303.2

304.4

1.3

1.0

0.3

0.0

0.7

2.8

3.1

228

No. 2 Vein

inc.

304.0

304.4

0.4

0.3

0.4

0.0

1.1

6.0

6.3

471

SQ24-132

188.1

188.6

0.5

0.4

0.7

0.1

0.0

1.4

2.1

154

No. 3 Vein

SQ24-132

290.6

291.0

0.5

0.4

0.2

0.0

1.4

3.3

3.9

287

No. 2 Vein

SQ24-133

142.4

143.5

1.2

0.9

0.3

1.0

0.3

1.2

4.0

299

HW Vein

SQ24-133

191.8

192.3

0.5

0.4

0.5

2.3

0.1

0.4

5.6

417

HW Vein

SQ24-133

214.5

214.9

0.4

0.3

2.4

0.1

0.2

15.8

14.8

1100

No. 3 Vein

SQ24-134

161.3

162.3

1.0

0.8

1.3

118

1.3

0.4

3.8

8.0

597

HW Vein

SQ24-134

173.4

173.9

0.5

0.4

1.5

0.0

0.4

5.8

6.3

468

HW Vein

SQ24-134

209.2

211.2

2.0

1.5

0.6

0.0

1.1

2.6

3.5

259

No. 3 Vein

SQ24-135

147.1

149.1

2.0

1.2

0.8

0.0

0.2

1.1

1.8

135

HW Vein

SQ24-135

167.9

168.4

0.5

0.3

4.2

502

2.3

0.4

2.7

16.9

1256

HW Vein

SQ24-135

263.6

264.1

0.5

0.3

0.1

104

0.0

2.3

7.6

8.3

616

HW Vein

SQ24-135

271.9

275.3

3.4

2.1

0.7

0.2

0.6

2.2

162

No. 3 Vein;

50.7%

dilution

inc.

271.9

272.4

0.5

0.3

1.8

149

0.8

0.2

0.7

5.6

419

SQ24-136

168.8

169.4

0.6

0.4

2.1

190

1.1

0.4

6.7

11.7

869

SQ24-136

195.7

196.1

0.4

0.3

8.6

790

3.2

0.2

0.4

24.8

1841

HW Vein

SQ24-136

231.7

242.2

10.6

7.6

1.1

0.3

0.7

4.4

5.8

431

No. 3 Vein

inc.

238.4

240.6

2.2

1.6

2.3

121

0.3

2.7

19.0

19.8

1475

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 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. 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 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. As well, the

Company has an option to acquire a 100% interest in the

Arlington Property

, located within the

Boundary District of south-central British Columbia where 2025 exploration work is planned to consist of

geophysics and diamond drilling designed to identify and delineate an apparent gold system. The

Company is fully funded to undertake proposed 2025 exploration and development at Silver Queen and

Arlington.

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/234158

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