Mr. Kyler Hardy reports

EQUITAS RESOURCES ANNOUNCES NON-BROKERED PRIVATE PLACEMENT AND PROPOSED SHARES FOR DEBT SETTLEMENT

Subject to TSX Venture Exchange acceptance, Equitas Resources Corp. has arranged a non-brokered private placement of 5,257,240 units at a price of five cents per unit for gross proceeds of $262,862. Each unit will consist of one common share and one warrant. Each warrant is exercisable into one common share of the company for a period of 24 months from closing at a price of 10 cents per common share.

All the securities issuable will be subject to a four-month hold period from the date of closing. The private placement is subject to the approval of the TSX Venture Exchange.

The proceeds of the private placement will be used to advance the company's exploration activities at the Garland property in Labrador, Canada, and for general working capital.

In addition, subject to exchange acceptance, the company has entered into a debt settlement agreement dated Jan. 30, 2015, with Ridge Resources Ltd. a company controlled by Kyler Hardy, president and director of the company.

Ridge entered into an assignment of debt agreement dated Jan. 29, 2015, with Zimtu Capital Corp. a related company, whereby Ridge purchased $100,000 of the existing debt for $50,000. The company wishes to extinguish the assigned debt by the issuance of one million common shares at a deemed value of five cents per common share, based on amount paid by Ridge to acquire the debt, rather than the principal amount of the debt. The shares will be subject to a four-month hold period.

The company determined it was best to satisfy its outstanding debt by the issuance of shares so to preserve its cash for operations and exploration activities.

The company is relying on exemptions from the prospectus requirements found in Section 2.14 of National Instrument 45-106 and applicable securities laws to issue the shares to Zimtu. The common shares issued to Ridge will be subject to a four-month hold period.

We seek Safe Harbor.