Equity Extends No. 3 Vein 400m on Silver Queen Property, BC; Results Include 507g/t AgEq over 2.7 Metres, Including a 0.6 Metre Interval of 1,089g/t AgEq

Equity Metals Corporation (TSXV: EQTY) has announced significant progress in its exploration efforts on the Silver Queen Au-Ag project in British Columbia, Canada. The company has successfully extended the No. 3 Vein by 400 metres to the northwest, with drilling intercepts returning high-grade silver and gold mineralization. This extension is a major milestone for the project, as it demonstrates the potential for further resource expansion and enhanced economics.

The Fall '24 drill program on the No. 3 North target resulted in several high-grade intercepts, including:

* A 2.7 metre (Est. TT) interval grading 0.3g/t Au, 174g/t Ag, 1.2% Cu, 0.2% Pb and 3.8% Zn (507g/t AgEq or 7.1g/t AuEq), including a 0.6 metre interval averaging 0.5g/t Au, 362g/t Ag, 3.0% Cu, 0.4% Pb and 7.7% Zn (1,089g/t AgEq or 15.2g/t AuEq) from SQ24-141.
* A 3.6 metre (Est. TT) interval grading 0.4g/t Au, 68g/t Ag, 0.1% Cu, 1.1% Pb and 5.3% Zn (386g/t AgEq or 5.4g/t AuEq), including a 1.6 metre interval averaging 0.7g/t Au, 119g/t Ag, 0.1% Cu, 2.0% Pb and 10.3% Zn (713g/t AgEq or 10.0g/t AuEq) from SQ24-140.

These results confirm the grade and tenor of mineralization beyond the northern end of the No. 3 Vein resource model, extending the projections of the No. 3 and No. 2 veins along an additional 400 metres northwest of the previously modelled mineralization. The No. 2 vein was intersected in multiple drill holes and occurs in the footwall of the No. 3 Vein at a slightly oblique orientation. Both structures remain open laterally and at depth and will be further tested as part of the 2025 drilling program.

The extension of the No. 3 Vein set has significant implications for the overall resource potential of the Silver Queen property. The No. 3 Vein is one of the largest deposits identified on the property, containing up to 66% of the current mineral resources on an AgEq basis. The recent drilling has successfully extended mineralization on the No. 3 Vein set, which remains open along strike and at depth for further testing in 2025. This new target area is adjacent to, and down dip from, existing historic underground workings, which would likely reduce development costs in an underground mining scenario.

Equity Metals' VP Exploration, Rob Macdonald, commented on the results, stating, "The Fall '24 drill program on the Silver Queen Property has successfully extended mineralization on the No. 3 Vein set, which still remains open along strike and at depth for further testing in 2025. This is a new target area for the Company, and with continued success, will be accretive to the existing mineral resources identified in the four known deposits currently delineated on the property. Mineralization remains open both laterally and at depth and is immediately adjacent to, and down dip from, existing historic underground workings, which would likely reduce development costs in an underground mining scenario."

Equity Metals' President, Joe Kizis, added, "We are pleased with the results of our 2024 program which outlined mineralization that will expand the Silver Queen resource. No. 3 North was identified as an area that has geologic similarities to the strongest part of the No. 3 resource farther south, where higher grades and vein thicknesses occur. Exploration plans for 2025 are fully funded, and we will continue the process of resource expansion both laterally and down dip of the modelled mineral resources as well as test new geologically attractive areas, such as where a blind vein was discovered in one hole at the North Camp target during 2024."

The high-grade intercepts on the No. 3 North target have significant implications for the project's economics and development timeline. These intercepts confirm the presence of high-grade mineralization beyond the northern end of the No. 3 Vein resource model, extending the projections of the No. 3 and No. 2 veins along an additional 400 metres northwest of the previously modelled mineralization. This extension of high-grade mineralization can have several positive impacts on the project:

1. Resource Expansion: The new intercepts indicate that the No. 3 Vein set remains open along strike and at depth, which could lead to an expansion of the current mineral resources identified in the four known deposits on the property. This expansion could increase the overall value of the project and potentially extend its mine life.
2. Economic Viability: High-grade intercepts can significantly improve the project's economics by increasing the overall grade of the resource, which can lead to higher revenue and lower operating costs per unit of production. This can make the project more attractive to investors and potential mining partners.
3. Reduced Development Costs: The new intercepts are immediately adjacent to, and down dip from, existing historic underground workings. This proximity can potentially reduce development costs in an underground mining scenario by utilizing existing infrastructure and minimizing the need for new development.
4. Accelerated Development Timeline: The discovery of high-grade mineralization in a new target area can accelerate the development timeline by providing additional near-term production opportunities. This can help Equity Metals generate revenue and cash flow more quickly, which can be reinvested in further exploration and development activities.

In conclusion, Equity Metals' successful extension of the No. 3 Vein on the Silver Queen property demonstrates the project's significant potential for resource expansion and enhanced economics. The high-grade intercepts on the No. 3 North target have the potential to enhance the project's economics, expand its resource base, and accelerate its development timeline. These positive implications can contribute to Equity Metals' goal of creating near to mid-term shareholder value through aggressive advancement and expansion of the current NI 43-101 Mineral Resource Estimate.