Equity Metals Corporation reported high-grade gold intercepts from two verification drill holes that tested the existing block model for the No. 3 Vein on the Silver Queen property, British Columbia. Intercepts include: a 0.7 metre down-hole interval (0.6m est. True Thickness) averaging 23.8g/t Au, 8g/t Ag and 0.5% Zn (24.2g/t AuEq or 1,814g/t AgEq) within a broader 5.1 metre interval (4.7m est. TT) averaging 4.4g/t Au, 54g/t Ag and 2.5% Zn (6.5g/t AuEq or 485g/t AgEq) from drill hole SQ20-005; a 0.6m down-hole interval (0.6m est TT) grading 13.3g/t Au, 800g/t Ag, 4% Pb and 11.4% Zn (9.6g/t AuEq or 719g/t AgEq) within a broader 2.8m down-hole interval (2.6m est TT) averaging 3.3g/t Au, 177g/t Ag, 0.9% Pb and 2.7% Zn (7.4g/t AuEq or 556g/t AgEq) from drill hole SQ20-006 that occurs in the hangingwall of the No. 3 Vein; and a 0.6 metre down-hole interval (0.5m est TT) grading 12.9g/t Au, 352g/t Ag and 2.4% Zn (19.2g/t AuEq or 1439g/t AgEq) within a broader 3.9 metre interval (3.6m est TT) averaging 2.8g/t Au, 121g/t Ag and 3.4% Zn (6.8g/t AuEq or 514g/t AgEq) from drill hole SQ20-006. Drill holes SQ20-005 and SQ20-006 are verification holes designed to test both the continuity and grade of mineralization within the existing block model that was used to establish the NI43-101 Mineral Resource Estimate on the Property. The higher- grade intercept in drill hole SQ20-005 is consistent with the expected thickness and grade predicted by the block model and forms part of a broader 14.8 metre alteration zone of anomalous gold-silver-zinc averaging 2.5g/t AuEq. The mineralization in drill hole SQ20-006 is higher grade than that predicted by the block model, confirms continuity of the current resource, and verifies a higher-grade hangingwall zone than was predicted by the model. The lower zone terminates in a fault and anomalous gold-silver values were identified in the footwall. Assay results from a third hole, SQ20-004, which tested the No. 3 Vein 150 metres down-dip of the known mineral resource and on the same section as drill hole SQ20-005, intersected a 0.5m interval grading 2.3g/t Au, 46g/t Ag, and 1.1% Zn (3.6g/t AuEq or 267g/t AgEq) within a broader 42m interval of anomalous gold-silver-zinc. The intercept confirms the downdip projection of the No. 3 Vein, opening an entirely new section of the Number 3 vein to be tested beneath the current mineral resource and above drill hole SQ20-004. These are the results of the first three of five holes that tested the No. 3 Vein during the Company's 2020 Phase I drill program on the Silver Queen Property. Assay results are still pending from drill holes SQ20-007 and SQ20-008, which tested the No 3 Vein target. Equity also reports that additional assay results have been received from the Camp Vein, including two mineralized intervals from drill hole SQ20-003, which returned: a 1.2 metre down-hole interval averaging 972g/t Ag, 0.1g/t Au, 0.4% Pb and 0.6% Zn (13.6g/t AuEq or 1,021g/t AgEq), which extended mineralization of a previously reported mineralized interval to 11.1 metres averaging 356g/t Ag, 0.4g/t Au, 1% Pb and 2.3% Zn (7.0g/t AuEq or 522g/t AgEq); and a 1.7 metre down-hole interval averaging 439g/t Ag, 0.1g/t Au, 0.4% Pb and 1.5% Zn (6.9g/t AuEq or 518g/t AgEq). Additional assay results from drill hole SQ20-009, which tested the Camp Vein target are pending and will be released upon receipt. Phase II drilling on the property was concluded in late December. The program consisted of eight drill holes totaling 1,948 metres and tested the immediate area around bonanza-grade mineralization identified in drill hole SQ20-010 (4.4m averaging 4,632g/t Ag and 0.2g/t Au, 0.4% Pb and 1.2% Zn) on the northwestern end of the vein system, deeper testing in the central part of the vein system, and shallow tests of the No 5 Vein. Drilling tested up to 150 metres below surface on the Camp Vein, which has seen, to date, minimal drilling. The Company also plans a Phase III, 4,000 metre drill program, which will step out from high-grade gold-enriched mineralization in the No. 3 and NG-3 veins, with drilling anticipated to start in late January 2021.