Equity Metals proposes $4.6M flow-through private placement

Equity Metals Corporation (TSXV: EQTY) announced a proposed non-brokered flow-through private placement to raise $4.6 million in gross proceeds. The company plans to issue 20 million charity/premium flow-through units at $0.23 per unit.

Each unit consists of one flow-through common share and one-half of one non-flow-through share purchase warrant. The warrants allow holders to purchase one non-flow-through common share at $0.40 for three years from the issuance date.

The Vancouver-based mining company stated it will use proceeds for continued exploration and resource expansion at its Silver Queen gold-silver-zinc vein project and for surface work and drilling at the Arlington gold-silver property.

The company completed its summer 2025 drilling program at Silver Queen, drilling 21 core holes totaling 8,059 meters on the No. 3 North target. The program extended the No. 3 Vein up to 650 meters laterally northwest from the 2022 mineral resource model. Since the 2022 resource estimate, Equity has drilled 87 additional holes for 34,494 meters, which will be incorporated into a mineral resource update scheduled for early first quarter 2026.

All securities issued under the offering will be subject to a four-month-and-one-day hold period from issuance. The completion of the placement requires regulatory approvals, including approval from the TSX Venture Exchange.

The Silver Queen Project consists of 45 mineral claims and 17 crown grants totaling 18,852 hectares in British Columbia's Omineca Mining Division. The property contains more than 20 identified veins forming an epithermal vein network.

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