Equitorial Continues to Encounter Pegmatites at its Cat Lake Lithium Property, Manitoba
Equitorial Continues to Encounter Pegmatites at its Cat Lake Lithium Property, Manitoba
Vancouver, BC, Canada – March 28, 2018 – Equitorial Exploration Corp. (TSX -V: EXX, Frankfurt: EE1, OTCQB: EQTXF)
(“Equitorial” or “Company”) is pleased to report that drill hole CT-18-04 encountered approximately 20 meters of the
same pegmatite found 50 meters to the east at the original pegmatite discovery (CT-18-02) at its 100%-owned Cat Lake
Lithium Property in SE Manitoba directly, adjacent to the Cat Lake Mineral Project owned by Quantum Minerals Corp.
CT-18-04 confirms the lateral extension of the pegmatite discovery.
Drill Program Update
As reported (news release March 21st, 2018), the drill program encountered approximately 36 meters (true width not
determined at this time ) of a spodumene bearing pegmatite in DDH CT -18-02 a t its 100% -owned Cat Lake Lithium
Property directly adjacent to the Cat Lake Mineral Project owned by Quantum Minerals Corp.
The new pegmatite discovery (DDH CT -18-02) was encountered approximately 126 meters downhole or 90 meters
below the surface. Drill hole CT-18-04 encountered approximately 20 meters of the same pegmatite 50 meters to the
east of the original pegmatite discovery hole. This pegmatite was encountered approximately 105 meters downhole or
72 meters below the surface. CT-18-04 confirms the lateral extension of the pegmatite discovery.
The discovery drill hole was collared approximately 200 meters southeast of the last surface exposure of the Irgon
Pegmatite. All drill holes of the pegmatite exploration program encountered varying degrees of pegmatites at different
depths. The pegmatites encountered in the program were buried and had no known surface expression. The company
is presently in the process of sampling the pegmatite intervals and will announce assay results once they are receive d
and reviewed.
The last drill hole of the Lithium Pegmatite exploration portion of the drill program has begun . The drilling has been
focused on understanding the orientation and extent of the new pegmatite discovery. Additional meterage has been
added to the program. The final portion of the drilling will test the skarn and old mine shaft located on the east side of
the project area.
The drill program is headed up by Carey Galeschuk. P. Geo, a consulting geologist with extensive experience in lithium
bearing pegmatites. He also serves as Qualified Person for the purpose of National Instrument 43-101.
Cat Lake Lithium Property Highlights
● Property situated directly east and along strike of Quantum Minerals' Cat Lake Mineral Project (previously Irgon
Lithium Mine). During 1956-1957, the Irgon Mine was an underground mining operation for spodumene (one of
the hard rock sources for Li) . The pegmatite had an historic estimate of 1.25 million tons of ore grading 1.51%
Li20 (Mineral Inventory File No. 221).
● Equitorial claim block 150 m from south end of Irgon Lithium Mine shaft and approximately 93m east of the
last exposed outcrop of the Irgon Pegmatite
● 48 feet of spodumene bearing quartz were drilled in 1948 on the company’s present claims but not followed up
at the time (Manitoba Assessment File 98073 - not 43-101 compliant)
● Present drill program has encountered numerous pegmatite in all drill holes
● Property approximately 180km northeast of Winnipeg, Manitoba
● Excellent infrastructure - Provincial Highway 314 in southeast Manitoba cuts through the property
Please click for map s of the claims: http://equitorialexploration.com/wp-content/uploads/2018/01/Cat-Lake-Claims-
Maps-3.pdf
QMC Quantum Minerals Cat Lake Mineral Project
QMC Quantum Minerals Corp News Release September 7, 2017 reported:
“Between 1953-1954, the Lithium Corporation of Canada Limited drilled 25 holes into the Irgon Dike and reported a
historical resource estimate of 1.2 million tons grading 1.51% Li20 over a strike length of 365 meters and to a depth of
213 meters (Northern Miner, Vol. 41, no.19, Aug. 4, 1955, p.3). This historical resource is documented in a 1956
Assessment Report by Bruce Ballantyne for the Lithium Corporation of Canada Ltd. (Manitoba Assessment Report No.
94932). This historical estimate is believed to be based on reasonable assumptions and the company/QP has no reason
to contest the document’s relevance and reliability.”
The property lies within the east -trending Mayville-Cat-Euclid Greenstone Belt (“MCEGB”) located along the northern
contact of the Maskw a Lake Batholith. This northern greenstone belt has a similar structural geological setting as the
Bird River Greenstone Belt (“BRGB”) which is located along the southern contact of the same batholith, and is parallel
to and approximately 18km to the south of the MCEGB. The property is located 20km north of the Tanco Mine
Property. The
BRGB hosts the world -class Tanco rare element -bearing pegmatite dike as well as numerous other lithium bearing
pegmatites. The Tanco Mine went into production in 1969 and produced tantalum, cesium and spodumene (lithium). It
was previously North America’s largest and sole producer of spodumene (Li), tantalite (Ta) and pollucite (Cs).
About Equitorial Exploration Corp
Equitorial is aggressively developing four 100% -owned, high -potential, lithium projects in North America. The Little
Nahanni Pegmatite Group (LNPG) is a 43 -101 compliant, hard rock, lithium property in the NWT. The Cat Lake Lithium
Property in Manitoba, Canada is directly adjacent to the Cat Lake Mineral Project, a highly prospective Lithium
property. The Tule and Gerlach Lithium Brine Projects are located in lithium -rich Utah and Nevada within easy reach of
the Tesla Gigafactory #1. All four projects have demonstrated highly encouraging grades.
For more information please visit: http://equitorialexploration.com/
On behalf of the Board of Directors
EQUITORIAL EXPLORATION CORP.
_____________________
Jack Bal, CEO and Director
For further information, please contact Jack Bal at 604-306-5285
FORWARD LOOKING STATEMENTS: This news release contains certain forward -looking statements within the meaning of Canadian
securities laws, including statements regarding the Cat Lake, Tule, Gerlach and Little Nahanni Pegmatite Project s: statements pertaining to
the ability of Equitorial Exploration Corp.(“EXX”); the potential to develop resources and then further develop reserves; the anticipated
economic potential of the property; the availability of capital and finance for EXX to execute its strategy going forward. Fo rward-looking
statements are based on estimates and assumptions made by EXX in light of its experience and perception of current and expect ed future
developments, as well as other factors that EXX believes are appropriate in the circumstances. Many factors could c ause EXX’s results,
performance or achievements to differ materially from those expressed or implied by the forward looking statements, including :
discrepancies between actual and estimated results from exploration and development and operating risks, depe ndence on early
exploration stage concessions; uninsurable risks; competition; regulatory restrictions, including environmental regulatory re strictions and
liability; currency fluctuations; defective title to mineral claims or property and dependence on ke y employees. Forward-looking statements
are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions u sed in
the preparation of such statements, although considered reasonable at the time of pr eparation, may prove to be imprecise and, as such,
undue reliance should not be placed on forward -looking statements. The Company expressly disclaims any intention or obligation to update
or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Ven ture
Exchange) accepts responsibility for the adequacy or accuracy of this release.