Equity Metals Announces Non-Brokered Charity/Premium Flow-through Private Placement

Vancouver, November 25, 2024 - Equity Metals Corp. (TSXV: EQTY) (FSE: EGSD) ("Equity" or the "Company") announces that it proposes to undertake a non-brokered flow-through private placement consisting of 8,000,000 Charity/Premium flow-through units ("FT Units") at $0.27 for gross proceeds of $2,160,000 (the "Offering"). Each FT Unit will be comprised of 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 3 years at a price of $0.27.

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 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 '24 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 metres strike-length of the George Lake target and 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 2025 in anticipation of a mineral resource update on the Silver Queen project in Q2.

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 (Figure 2) to be follow by initial drilling of the highest priority targets.

The Company may pay finders' fees comprised of 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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.

Figure 1: Plan Map of targets on the Silver Queen vein system, BC

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Figure 2: Plan Map of targets on the Arlington Project, BC

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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 an 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 18,852ha with no underlying royalties. Mineralization is hosted by a series of epithermal veins distributed over a 6 sq km area. An updated NI43-101 Mineral Resource Estimate with effective date December 1^st, 2022 was detailed in a News Release issued on January 16, 2023, which can be found by clicking here 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 under explored.

About Equity Metals Corporation

Equity Metals Corporation is a Malaspina-Manex Group Company. The Company owns 100% interest, with no underlying royalty, in the Silver Queen project, located along the Skeena Arch in the Omineca Mining Division, 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 JV interest (57.49%) in the Monument Diamond project, NWT, strategically located in the Lac De Gras district within 40 km of both the Ekati and Diavik diamond mines and an option to earn a 100% interest in the Arlington Au-Ag-Cu property in Southern BC.

Robert Macdonald, MSc. P.Geo, is VP Exploration of Equity Metals Corporation 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.

On behalf of the Board of Directors
"Joseph Anthony Kizis, Jr."

Joseph Anthony Kizis, Jr., P.Geo
President, Director, Equity Metals Corporation

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Forward-looking statements in this news release include the amount of the Offering, closing of the Offering and the Company's plans to advance the Silver Queen and Arlington projects. Factors that could cause actual results to differ materially from those in forward-looking statements include the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Equity Metals Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

This news release is not intended for distribution to United States newswire services or dissemination in the United States.

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