Equity Metals Corporation reported encouraging assays from the 100% owned Silver Queen Au-Ag project, British Columbia, in its initial three holes from the Autumn 2023 core drilling program on the Cole Lake target. These latest drill results at the Cole Lake target returned multiple intercepts of strongly enriched precious and base metals, including: A 1.0 metre (est. TT) interval averaging 1.0/t Au, 287g/t Ag, 0.3% Cu, 0.5% Pb and 4.0% Zn (7.0g/t AuEq or 576g/t AgEq) within an 8.9 metre (est.

TT) interval averaging 0.3g/t Au, 66g/t Ag, 0.1% Cu, 0.3% Pb and 1.2% Zn (1.9g/t AuEq or 157g/t AgEq) from the Cole Vein in drillhole SQ23-095; A 1.9 metre (est. TT) interval averaging 0.2g/t Au, 325g/t Ag, 0.2% Cu, 1.2% Pb and 1.6% Zn (5.7g/t AuEq or 467g/t AgEq) within a 3.8 metre (est. TT) interval averaging 0.2g/t Au, 212g/t Ag, 0.2% Cu, 0.9% Pb and 1.3% Zn (4.0g/t AuEq or 328g/t AgEq) from the Cole Vein in drillhole SQ23-096; and A 0.7 metre (est TT) interval averaging 2.0g/t Au, 89g/t Ag, 0.2% Cu, 7.9% Pb and 17.2% Zn (14.7 AuEq or 1206g/t AgEq) within a 2.4 metre (est.

TT) interval averaging 0.9g/t Au, 33g/t Ag, 0.1% Cu, 2.4% Pb and 5.0% Zn (4.8g/t AuEq or 391g/t AgEq) from a hangingwall vein in drillhole SQ23-097. These results from the first three of nine core holes tested both the NW-SE-trending Cole Vein and the NNW-SSE-trending Cole Shear as part of Equity's 2023 drill program on the George Lake and Cole Lake target areas. Historical work on the Cole Lake target has included trenching, surface sampling, drill testing with 20 holes as well as the development of a shallow 25 metre shaft on the main Cole Vein which was supplemented by Equity's surface mapping, sampling and 3D modeling to form the basis for current drill targeting.

These three holes form a vertical fan and confirm both the overall tenor and thickness of mineralization in the main Cole Vein to depths of +250 metres below surface. Mineralization remains open both at further depth and laterally where holes with pending assays will provide information along a +500-metre projected strike-length of the vein.