Equity Metals Corporation reported encouraging assays in the final four holes from the George Lake target, tested during its Summer 2023 core drilling program on the Company's 100% owned Silver Queen Ag-Au project, located in central British Columbia. These new assays expand mineralization, adding to the first three holes from George Lake reported in NR-16-23, dated October 4th, 2023. Mineralization remains open laterally and at depth, and no mineralization from the George Lake target was included in Equity's most recently announced Mineral Resource update on the Silver Queen project.

These latest drill results at the George Lake target returned multiple intercepts of precious and base metals, including: A 0.9 metre (est. TT) interval averaging 7.1g/t Au, 56g/t Ag, 0.2% Cu, 1.5% Pb and 6.0% Zn (11.6g/t AuEq or 946g/t AgEq) within a 3.0 metre (est. TT) interval averaging 2.5g/t Au, 31g/t Ag, 0.4% Cu, 0.5% Pb and 2.5% Zn (4.8g/t AuEq or 394g/t AgEq) starting at 320.2 metres downhole from drillhole SQ23-093; A 0.9 metre (est.

TT) interval averaging 1.2g/t Au, 98g/t Ag, 0.1% Cu, 2.6% Pb and 17.7% Zn (12.3g/t AuEq or 1002g/t AgEq) within a 3.6 metre (est. TT) interval averaging 0.4g/t Au, 32g/t Ag, 1.1% Pb and 5.6% Zn (4.1g/t AuEq or 333g/t AgEq) starting at 322.2 metres downhole from drillhole SQ23-094; and A 0.5 metre (est TT) interval averaging 10.4g/t Au, 115g/t Ag, 0.6% Cu, 0.9% Pb and 1.4% Zn (13.7 AuEq or 1118g/t AgEq) starting at only 12.3 metres down hole in drillhole SQ23-094. These new results include both the thickest intercept of mineralization identified by Equity Metals to date at the George Lake Target and some of the highest gold grades, including relatively shallow gold- enriched mineralization identified at the top of drillholes SQ23-094 and SQ23-093 in a previously undetected vein that requires further drilling and delineation.

Historically, the George Lake vein system was last tested by previous management with both surface and underground drilling from the Bulkley cross cut in the late 1980's. Drilling by Equity has confirmed the lateral projection of the mineralized vein approximately 300 metres to the southeast of the Bulkley cross- cut and to depths of up to 250 metres. Mineralization remains open laterally to the southeast and to depth for further testing and will be a primary target in 2024 exploration of the Silver Queen property. All assays have now been received from the George Lake drilling.

The Company also reports that its has completed its 2023 Drilling Program on the property. Seven core holes totaling 2,467 metres were completed on the George Lake Target and a further nine core holes totaling 2,961 metres were completed on the Cole Lake Target. Drilling was completed in late October 2023, and samples from Cole Lake have been submitted for assay, with results anticipated in the coming weeks.

In total during 2023, 26 core holes were completed for 9,989 metres drilled and 1,437 soil sediment samples were collected.