Mr. Joseph Anthony Kizis Jr. reports

EQUITY METALS ANNOUNCES NON-BROKERED CHARITY/PREMIUM FLOW-THROUGH PRIVATE PLACEMENT

Equity Metals Corp. proposes to undertake a non-brokered flow-through private placement consisting of eight million charity/premium flow-through (FT) units at 27 cents for gross proceeds of $2.16-million. Each FT unit will comprise one flow-through common share and one-half of one non-flow-through share purchase warrant. Each whole warrant entitles the holder thereof to purchase one non-flow-through common share for a period of three years at a price of 27 cents.

The proceeds received from the sale of the FT units will be utilized for the continued exploration and resource expansion at the Silver Queen Au-Ag-Zn (gold-silver-zinc) vein project and for initial surface work and drilling on the newly acquired Au-Ag Arlington property.

Silver Queen project

Drilling continues on the Silver Queen project as part of the company's fall, 2024, exploration program. Over 16,300 metres of drilling in 40 holes have been completed on four separate areas in 2024, including new targeting on the George Lake and No. 3 North zones. Drilling has now tested a 550-metre strike length of the George Lake target and a 450-metre strike length of the No. 3 North target. Assays from the No. 3 North target are pending and are anticipated over the coming weeks. Modelling of these zones will proceed in Q1 (first quarter) 2025 in anticipation of a mineral resource update on the Silver Queen project in Q2 (second quarter).

Arlington project

The Arlington project represents an exploration opportunity within an historic mining district in a geological setting and observed styles of mineralization which are geologically analogous to known productive mineral deposits within the region. Three main targets have been identified on the property for priority follow-up. The project remains undrilled. Work in 2025 will include surface mapping, sampling and airborne geophysical surveys over the Fresh Pots, Rona and Arlington target areas, to be followed by initial drilling of the highest-priority targets.

The company may pay finders' fees, comprising cash and non-transferable warrants, in connection with the offering, subject to compliance with the policies of the TSX Venture Exchange. All securities issued and sold under the offering will be subject to a hold period expiring four months and one day from their date of issuance. Completion of the offering and the payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

About Silver Queen project

The Silver Queen project is a premier gold-silver property with over 100 years of historic exploration and development, and is located adjacent to power, roads and rail, with significant mining infrastructure that was developed under previous operators Bradina JV (Bralorne Mines) and Houston Metals Corp. (a Hunt Brothers company). The property contains a historic decline into the No. 3 vein, the George Lake vein, camp infrastructure and a maintained tailings facility.

The Silver Queen property consists of 45 mineral claims, 17 Crown grants and two surface Crown grants totalling 18,852 hectares, with no underlying royalties. Mineralization is hosted by a series of epithermal veins distributed over a six-square-kilometre area. An updated National Instrument 43-101 mineral resource estimate with an effective date of Dec. 1, 2022, was detailed in a news release issued on Jan. 16, 2023, and the full technical report can be found on SEDAR+ and the company's website.

More than 20 different veins have been identified on the property, forming an extensive network of zoned Cretaceous- to Tertiary-age epithermal veins. The property remains largely underexplored.

About Equity Metals Corp.

Equity Metals is a Malaspina-Manex Group company. The company owns a 100-per-cent interest, with no underlying royalty, in the Silver Queen project, located along the Skeena arch in the Omineca mining division of British Columbia. The property hosts high-grade, precious-metal and base-metal veins related to a buried porphyry system, which has been only partially delineated. The company also has a controlling JV (joint venture) interest (57.49 per cent) in the Monument diamond project, Northwest Territories, strategically located in the Lac De Gras district within 40 kilometres of both the Ekati and Diavik diamond mines, and an option to earn a 100-per-cent interest in the Arlington Au-Ag-Cu (gold-silver-copper) property in Southern British Columbia.

Robert Macdonald, MSc, PGeo, is vice-president of exploration of Equity Metals and a qualified person as defined by National Instrument 43-101. He is responsible for the supervision of the exploration on the Silver Queen project and for the preparation of the technical information in this disclosure.

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