Equus Mining Limited announced outstanding high-grade gold and silver drill results following compilation and initial re-logging of historical drill data from a highly prospective zone titled Pegaso VII Target at its 100% owned Cerro Bayo Project. This work has highlighted a series of high-priority drill targets along a vein corridor mapped over an approximate 450m width x 1.4km length, located 2.5km to the northeast of the Cerro Bayo processing plant. Planned follow-up drilling totaling 2,500m will test the geometry and continuity of high-grade mineralization over a vertical interval of +250m, both along strike and at depth, throughout a +400m long portion of the Pegaso VII vein corridor.

In parallel, given that a large proportion (approximately 75%) of the historical drill core was not analyzed, and recent re-logging has defined significant unsampled drill core intervals hosting veining, a detailed program of historic drill core sampling is in process. The Pegaso VII target is located 2.5km to the north-east of the Cerro Bayo plant infrastructure and sits 1km in a subparallel north west trend from the partially exploited Coyita Mine (approximately 140kOz AuEq1 @ 6.6 g/t AuEq1 in mine production/remaining NI 43.101 resources 2). Veining defined to date throughout the Pegaso VII Target predominantly occupies the footwall position with respect to the district scale, southeasterly dipping Appaloosa Fault.

A total of 14,134.67m in 64 holes were drilled on the Pegaso VII target by previous operators, initiating in 2004 and for which the majority (>90%) was completed prior to 2013. Historic drill hole collar data is provided in the JORC Table 1 and detailed results3 for these holes are provided in Appendix 1. Historic drilling throughout the Pegaso VII target was broadly focused over a 450m wide x 1400m long corridor hosting a series of sub-vertical veins mapped and interpreted from core logging principally along, north-south and north-northwest trends. A large proportion of historic drilling was concentrated in the southern 400m of this corridor throughout which high-grade mineralization was intersected over a vertical interval of +250m.

The above high-grade results generally correlate to weakly banded and brecciated individual veins of between 0.3-0.8m width which are commonly enveloped by zones of stockwork veining and brecciation varying in width between 1-5m. Recent initial re-logging of the historic drill core has defined significant intervals of unsampled drill core which hosts stockwork veining and brecciation. Given that a large portion of the historic holes (75%) were not assayed, a systematic program of relogging and core sampling is in process to confirm if additional core intervals host mineralization which may underpin definition of wider vein grade geometries.