Mr. David Hodge reports

EQUITAS RESOURCES CORP. ACQUIRES GARLAND NICKEL PROPERTY IN THE VOISEY'S BAY AREA

Equitas Resources Corp. has entered into an agreement to acquire a 100-per-cent interest in the Garland property, located in Labrador, Canada. The property encompasses 25,050 hectares and is 30 kilometres southeast of Vale's Voisey's Bay nickel/copper/cobalt mine. A review of historical exploration work shows the Garland property is within an environment favourable for magmatic nickel-copper sulphide deposits and has strikingly similar features to the Voisey's Bay deposit(s).

Given the close proximity to the Voisey's Bay discovery, a similar tectonic environment to North American Nickel's Maniitsoq project in Greenland, and coupled with the lack of modern exploration techniques at the Garland property, the company believes it has good potential for the discovery of nickel, copper, cobalt and platinum group element mineralization.

Advances in geophysical electromagnetic exploration techniques allow greater depth penetrating capabilities than those available at the time of historic exploration (around 1995 to 1996). The company's exploration of the property will initially include an airborne versatile time-domain electromagnetic (VTEM max) technology. The results of this survey will be integrated with existing airborne gravity and magnetic data, which will allow for the rapid identification of geophysical targets similar to those for other magmatic nickel-copper sulphide occurrences (such as Voisey's Bay). Targets will be ground tested with applicable ground geophysics and geological mapping/sampling to identify high-priority targets that may warrant drilling.

About the Garland property

The property was explored by 10 separate companies, primarily between the years 1995 to 1999. At the time, individual claim blocks were relatively small with multiple owners, which was not conducive to a regional exploration strategy that allowed for the systematic exploration of the area. Exploration methods focused on outdated frequency-domain airborne electromagnetic surveys over isolated areas, which have very shallow depth penetration capabilities (estimated at 75 metres). Further, reconnaissance rock sampling and mapping covered only a fraction of the property.

Recently, in between 2000 to 2007, parts of the property and areas to the west were explored by Vale Canada Ltd. (and its predecessors). Exploration methods included a regional airborne gravity gradiometer (AGG) survey, with follow-up induced polarity (IP) ground-EM surveys, and ground reconnaissance sampling. This exploration resulted in the identification of several localized targets, but only one drill hole is reported for the property. Despite the absence of significant Ni-Cu-Co mineralization, the drill hole verified the suitability of the region to host a Voisey's Bay-style deposit. The drill hole encountered "a sequence of variably textured gabbro-norites with trace very fine-grained disseminated sulphides locally."

About Voisey's Bay

The original discovery at Voisey's Bay was made in late 1993 while conducting a regional exploration program by Archean Resources Ltd., under contract to Robert Friedland's Diamond Fields Resources; the geologists noticed an outcrop at surface. The property was staked in early 1994 after samples returned high nickel and copper values. Drilling commenced and early results suggested that the property could hold one of the highest-grade, large nickel orebodies known. In August, 1996, after many negotiations and transactions, Inco Ltd. purchased the Voisey's Bay property for $4.6-billion. Approximately 420 diamond drill holes were completed for a total of about 205,000 metres of drill core by August of 1997.

The Voisey's Bay mine commenced production in 2005, with reported reserves of 17.2 million tonnes of ore grading 2.38 per cent Ni, 1.34 per cent Cu and 0.11 per cent Co (2013 proven and probable reserves). Total resources have been estimated at well over 100 million tonnes.

In 2012, at the Voisey's Bay Ovoid mine in Newfoundland and Labrador, Vale reported mining 2.35 million tonnes of ore containing 3.11 per cent nickel (73,116 t), 1.94 per cent copper (45,600 t) and 0.052 per cent cobalt (1,221 t). The nickel that was produced from Voisey's Bay accounted for nearly 35 per cent of the total produced in all of Canada.

The Voisey's Bay district is thought to be at its very early stage of exploration and discovery when compared with other nickel and base metal districts, such as Sudbury, Ont., and Thompson, Man. The region continues to hold excellent potential for additional discoveries.

Acquisition terms

In consideration for a 100-per-cent stake in the property, Equitas has entered into an option agreement with Zimtu Capital Corp., DG Resource Management Ltd. and Ridge Resources Ltd.

The company will issue 7,999,998 shares over a 36-month period, of which 2,666,666 are due upon exchange approval of the agreement, pay $80,000 over a one-year period, of which $30,000 is due upon signing, and grant DG Resource Management a 2-per-cent gross-overriding royalty in the property. The transaction is subject to acceptance by the TSX Venture Exchange.

National Instrument 43-101 disclosure

Neil McCallum, PGeol, Dahrouge Geological Consulting Ltd., a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.

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