Equitorial Capital Corp. announced the signing of an assignment agreement with Arctic Star Exploration Corp. whereby Equitorial can earn up to 60% of Arctic's interest in and to the mineral concession located in Dabeiba, Antioquia Colombia, known as the El Havila copper-gold property. The agreement is intended to serve as the company's Qualifying Transaction under the policies of the Exchange. Following Exchange approval of the Qualifying Transaction, it is the company's intent to conduct ground geophysics and soil sampling over the now enlarged target area at El Havila to define the extent of the mineralization and its altered breccia host, which is predominantly obscured by vegetation and a unconformable mudstone cover sequence. It is expected that this will be the final stage of work required prior to targeting drill holes on the Property. The Agreement provides that Arctic will assign to Equitorial a 60% interest in Arctic's earned 50% interest in the El Havila Property and a 60% interest in Arctic's rights and interests under the option agreement by reimbursing Arctic for the $200,000 payment made by Arctic on February 15, 2013 and by assuming Arctic's obligations under the option agreement, including making the final $125,000 option payment to the vendor on or before February 15, 2014. Upon making the two cash payments outlined above, Equitorial will earn its interest, which equates to a 51% interest in the Property. Equitorial, Arctic and the vendor will then enter into a joint venture to further explore and develop the Property. Equitorial does not have the option to increase its interest past 60% of Arctic's initial 85% interest. The Company will be the operator of all exploration programs on the El Havila Property following closing.

The company announced Monika Sumara will resign and be replaced by Dean Pekeski as director. In addition, Troy Nikolai will join the board. The company also announced Dean Pekeski will replace Frank Hegner as President of Equitorial, Patrick Power will act as Chief Executive Officer and continue as Secretary and Troy Nikolai will replace Patrick Power as Chief Financial Officer. Mr. Pekeski has over 17 years' experience in mineral exploration. Mr. Pekeski is currently an Executive Vice President of Western Potash Corp. and is a qualified Person as defined by National Instrument 43-101. Troy Nikolai brings nine years of accounting and auditing experience to the board. Mr. Nikolai also serves as director on various other private company boards. He is currently the Chief Financial Officer and a director of Western Potash Corp.