Equity Metals to Acquire 100% of the Arlington Gold Property
Equity Metals to Acquire 100% of the Arlington
Gold Property
Vancouver, British Columbia--(Newsfile Corp. - December 6, 2024) -
Equity Metals Corporation
(TSXV: EQTY) ("Equity" or the "Company")
reports that it has received TSX Venture Exchange
approval of the letter agreement with Origen Resources Inc. ("Origen") dated November 5, 2024 (the
"Arlington Agreement") pursuant to which the Company has the option to earn a 100% interest in nine
claims, totaling 3,583.89 ha, located within the Boundary District of south-central British Columbia (the
"Arlington Property").
Pursuant to the Arlington Agreement, the Company has now paid Origen $80,000 ($30,000 of which is
reimbursement of costs associated with the bond posted in regards to the current drill permit to be
assigned to Equity) and has issued to Origen 944,686 common shares of Equity valued at $200,000. In
order to exercise its option under the Arlington Agreement, the Company must also meet the following
obligations within one year: (i) pay Origen $50,000; (ii) issue to Origen 2,000,000 shares; and (iii) incur
exploration expenditures of $250,000 on the Arlington Property.
Origen will retain a royalty of 2% of net smelter returns, provided that the Company may purchase 1% of
such royalty at any time for the price of $1,000,000.
Initial work on the project by Equity will include detailed soil sampling, geological mapping, prospecting
and potentially trenching toward further refinement of the known targets to be followed by initial drilling in
2025.
See the Company's news release dated November 12, 2024 for further details on the Arlington Property
and previous work completed on the project.
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.
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
Arlington Property 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 contains forward-looking statements including statements regarding the exercise of
the option to acquire a 100% interest in the Arlington Property and future exploration plans and
expenditures on the Arlington Project. 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/232722