Equity Metals Corporation reported final assays from its Spring 2023 core drilling program on the Company's 100% owned Silver Queen Ag-Au project, located in central British Columbia. The new assays extend new mineralization in several areas: the west side of the Camp Deposit; a blind, hangingwall vein north of the main Camp veins; and a previously undrilled portion of the Sveinson Deposit. Sveinson Deposit: Drilling returned multiple gold and base-metal-enriched intercepts including: a 1.5 metre (est.

TT) interval grading 1.5g/t Au, 89g/t Ag, 1.5% Pb and 16.2% Zn (11.2g/t AuEq or 914g/t AgEq) within a 7.7 metre interval averaging 0.9g/t Au, 57g/t Ag, 1.4% Pb and 6.5% Zn (5.4g/t AuEq or 445g/t AgEq) from drillhole SQ23-086; and a 2.2 metre (est. TT) interval grading 0.9g/t Au, 27g/t Ag, 1.2% Pb and 2.9% Zn (3.1g/t AuEq or 252g/t AgEq) from drillhole SQ23-084. These results are from two of four holes that tested a 200-metre drilling gap in the Sveinson deposit.

Each of the four holes contain multiple intercepts, which help to build continuity to depths of up to 350 metres below surface in several veins initially identified in 2022 drilling. Camp Deposit: Drill highlights include: a 0.7 metre (est. TT) interval grading 742g/t Ag, 0.7% Pb and 0.6% Zn (9.7g/t AuEq or 790g/t AgEq) from drill hole SQ23-082.

This interval is one of two higher-grade silver intercepts from drill hole SQ23-082 that extend mineralization in the Camp Deposit an additional 100 metres laterally to the west, beyond which it remains open for further drill testing. Mineralization was also identified near the top of hole SQ23-081 and is similar in tenor to previously reported intercepts in drill holes SQ23-079 and -080, confirming a blind shallow target north of the main vein set under alluvium. George Lake Target: The Company also reported that it has now completed 2,324 metres of new core drilling in 7 holes on the George Lake target as part of its 2023 Summer drill program.

Drilling has confirmed visual mineralization around historical intercepts adjacent to the Bulkley Crosscut (historic underground workings) and extends the lateral projection of mineralization approximately 400 metres to the southeast and up to 250 metres below surface. Mineralization remains open along strike and at depth. Assay results from this drilling and over 1,400 soil samples, which were collected on the property in June, are pending and are anticipated in the coming weeks.

Drilling is currently suspended due to wildfire risk in the area but will resume on the Cole Lake target once conditions allow.