Mr. Jack Bal reports

EQUITORIAL EXPLORATION RETURNS ASSAYS OF 1.9% LI2O OVER 31.88M AT CAT LAKE

Equitorial Exploration Corp. has released drill assay results from discovery hole CT-18-02 in the Cat Tail pegmatite. The discovery hole encountered approximately 36 metres of a spodumene-bearing pegmatite (news release dated March 19, 2018) on its 100-per-cent-owned Cat Lake lithium property in southeastern Manitoba. This new pegmatite discovery is directly adjacent to the Cat Lake mineral project owned by Quantum Minerals Corp.

Chief executive officer, Jack Bal, commented: "These are exceptional assay results. We will shortly announce a follow-up drill program for this summer to more fully define this pegmatite system."

Drill hole CT-18-02

Drill hole CT-18-02 was the second drill hole of the company's aggressive 1,256-metre seven-hole drill program. Drill hole CT-18-02 was positioned to intersect a possible extension of the Irgon pegmatite system, presently being explored by QMC Quantum Minerals to the west of the company's claims. The drill hole encountered 36.19 metres of a spodumene-bearing pegmatite (true width not determined at this time) at a depth of 126.41 metres downhole or 90 metres below the surface. The hole was collared approximately 200 metres southeast of the last surface exposure of the Irgon pegmatite. Prior to being drilled, the Cat Tail pegmatite was buried with no surface expression.

Assay results CT-18-02

A weighted average of 1.90 per cent lithium oxide (Li2O) was obtained over a mineralized length of 31.88 metres (true width not determined at this time) from the discovery hole into the Cat Tail pegmatite. Three zones of spodumene mineralization were noted within the mineralized zone, with the highest assay being 3.74 per cent Li2O. The pegmatite is crudely zoned.

With the favourable lithium assay results, the company will submit the remainder of the samples from the other six holes to the assay lab. Drill holes CT-18-04 and CT-18-06 also intersected the Cat Tail pegmatite. Other pegmatites were encountered in the drilling but the Cat Tail pegmatite is the most significant. The Cat Tail pegmatite has been intersected over a distance of 50 metres and remains open along strike and to depth. At this time it is difficult to predict if the Cat Tail pegmatite is a new pegmatite system or an extension of the Irgon pegmatite system to the west.

Quality assurance/quality control protocol

The core samples were sent to the Activation Laboratories facility, in Ancaster, Ont., for analysis. Samples were prepared, using the lab's code RX1 procedure. Samples are crushed, up to 95 per cent passing through a 10-mesh riffle split and then pulverized, with mild steel, to 95 per cent, passing 105 micrometres. Analyses were completed, using the lab's ultratrace 7 package; a sodium peroxide fusion which allows for total metal recovery and is effective for analysis of sulphides and refractory minerals. Assay analyses are carried out, using ICP-OES (inductively coupled plasma optical emission spectroscopy) and ICP-MS (inductively coupled plasma mass spectrometry) instrumentation. Equitorial Exploration implemented a QA/QC program for the drill program with the injection of blanks, duplicates and commercial standards at intervals throughout the sample sequence. Activation Laboratories has its own internal QA/QC procedures that it carries out for all sample batches.

The drill program was supervised Carey Galeschuk, PGeo, 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:

• The property is situated directly east and along strike of Quantum Minerals' Cat Lake mineral project (previously Irgon lithium mine). During 1956 to 1957, the Irgon mine was an underground mining operation for spodumene (one of the hardrock sources for Li). The pegmatite had a historic estimate of 1.25 million tons of ore grading 1.51 per cent Li2O (Mineral Inventory File No. 221).
• The Equitorial claim block is 150 m from south end of Irgon lithium mine shaft and approximately 93 m east of the last exposed outcrop of the Irgon pegmatite.
• Forty-eight feet (14.63 m) of spodumene-bearing quartz were reported drilled in 1948 on the company's present claims but not followed up at the time (Manitoba Assessment File 98073 -- not National Instrument 43-101 compliant).
• The property is approximately 180 km northeast of Winnipeg, Man.
• The property has excellent infrastructure -- Provincial Highway 314 in southeast Manitoba cuts through the property.

The property lies within the east-trending Mayville-Cat-Euclid greenstone belt (MCEGB) located along the northern contact of the Maskwa 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 18 km to the south of the MCEGB. The property is located 20 km 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), tantalum (Ta) and pollucite (Cs).

Equitorial has granted a total of two million incentive stock options to directors/officers/employees and/or consultants under the company's stock option plan. The options are exercisable at 9.5 cents per share and will expire June 13, 2023.

About Equitorial Exploration Corp.

Equitorial is aggressively developing four 100-per-cent-owned, high-potential, lithium projects in North America. The Little Nahanni pegmatite group (LNPG) is a National Instrument 43-101-compliant, hardrock, lithium property in the Northwest Territories. 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 No. 1.

We seek Safe Harbor.