Mr. Joseph Kizis Jr. reports

EQUITY METALS CLOSES OVERSUBSCRIBED NON-BROKERED FLOW-THROUGH PRIVATE PLACEMENT

Equity Metals Corp. has closed its previously announced premium/charity flow-through (FT) private placement by issuing a total of 9,160,657 charity/premium flow-through units at 27 cents per FT unit for proceeds of $2,473,377.39. This offering amount includes an oversubscription of 1,160,657 FT units for proceeds of $313,377.39.

Each FT unit consists of one flow-through common share and one-half of one share purchase warrant, with each whole warrant entitling the holder thereof to purchase one non-flow-through common share for a period of three years at a price of 27 cents.

The company paid finders' fees totalling $43,210.80 and issued an aggregate 240,060 non-transferable finders' warrants in connection with the offering. Each finder's warrant is exercisable to purchase one common share for a period of three years at a price of 27 cents. All securities issued and sold under the offering are subject to a hold period expiring on April 20, 2025. The offering and the payment of finders' fees are subject to TSX Venture Exchange acceptance.

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.

About the Silver Queen project

The Silver Queen project is a premier gold-silver property with over 100 years of historical 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 historical decline into the No. 3 vein and the George Lake vein, camp infrastructure, and a maintained tailings facility.

The Silver Queen property consists of 46 mineral claims, 17 Crown grants and two surface Crown grants totalling 18,871 hectares with no underlying royalties. Mineralization is hosted by a series of epithermal veins distributed over a six-square-kilometre area. 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 is a member of the Malaspina-Manex Group. 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 in British Columbia. The property hosts high-grade, precious- and base-metal veins related to a buried porphyry system, which has been only partially delineated. The company also has a controlling joint venture (JV) 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. As well, the company has an option to acquire a 100-per-cent interest in the Arlington property, located within the Boundary district of south-central B.C., where 2025 exploration work is planned to consist of geophysics and diamond drilling designed to identify and delineate an apparent gold system. The company is fully financed to undertake proposed 2025 exploration and development at Silver Queen and Arlington.

Robert Macdonald, MSc, PGeo, is vice-president of exploration of Equity 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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