Equitorial Exploration Corp. Closed Private Placement

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THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR ISSEMINATION

IN THE UNITED STATES

EQUITORIAL EXPLORATION CORP. CLOSED PRIVATE PLACEMENT

Vancouver, B.C., May 29, 2019 – EQUITORIAL EXPLORATION CORP. (TSX-V: EXX, Frankfurt:

EEI, OTC: EQTXF) (the “Company”) announces that it has closed its non-brokered private placem ent

(the “Offering”) originally announced on February 14, 2019 with updated announcements on April 2, 2019

and May 9, 2019.

The Offering consists of 2,750,000 Units at a price of $0.03 pe r Unit, for aggregate gross proceeds of

$82,500. Each Unit consists of one common share in the share capital of the Company (the “Shares”) and

one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one

additional Share at an exercise price of $0.05, exercisable on or before May 31, 2021.

In connection with the Offering, the Company has paid Canaccord Genuity Corp. a finder cash commission

in the amount of $5,160.00, being 8% of the aggregate proceeds from the sale of the Units to purchasers

introduced by the finder. The Company has also issued 172,000 non-transferable finder warrant, being 8%

of the number of the Units to purchasers introduced by such finder. Each finder’s warrant entitles the holder

to purchase one additional Share at an exercise price of $0.05, exercisable on or before May 31, 2021.

All securities issued under the Offering are subject to a statutory hold period ending on October 1, 2019 in

accordance with applicable Canadian securities laws.

The Company intends to allocate the net proceeds as follows: $72,500 for current liabilities and the balance

of $10,000 for general working capital purposes.

As the Offering was not fully subscribed, the Company will apply the proceeds of the Offering to the above

uses in priority and in such proportions as the board of directors and management of the Company determine

is in the best interests of the Company.

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 dire ctly 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 Gig afactory #1. All four projects have

demonstrated highly encouraging grades.

For more information please visit: http://equitorialexploration.com/

ON BEHALF OF THE BOARD

Patrick Power, Chief Executive Officer

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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 Projects: statements pertaining to the ability of Equitorial Exploration

Corp.(“EXX”); the potential to develop resources and then furth er develop reserves; the anticipated

economic potential of the property; the availability of capital and finance for EXX to execute its strategy

going forward. Forward-looking statements are based on estimates and assumptions made by EXX in light

of its experience and perception of current and expected future developments, as well as other factors that

EXX believes are appropriate in the circumstances. Many factors could cause EXX’s results, performance

or achievements to differ materially from those expressed or im plied by the forward looking statements,

including: discrepancies between actual and estimated results f rom exploration and development and

operating risks, dependence on early exploration stage concessi ons; uninsurable risks; competition;

regulatory restrictions, including environmental regulatory restrictions and liability; currency fluctuations;

defective title to mineral claims or property and dependence on key employees. Forward-looking statements

are based on the expectations and opinions of the Company’s man agement on the date the statements are

made. The assumptions used in the preparation of such statement s, although considered reasonable at the

time of preparation, may prove to be imprecise and, as such, un due 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 TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX

Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.