Equitas Resources Corp. Announces Commencement of Initial Exploration Program on the Garland Project and Management Additions


February 3rd, 2015

VANCOUVER, Feb. 3rd, 2015 /CNW/ – Equitas Resources Corp. (TSXv: EQT) (FSE: T6UN) (“Equitas” or the “Company”) is pleased to announce that it has commenced its nickel exploration program on the Garland Property in Labrador, Canada which is located less than 30kms south-east of the Voisey’s Bay Mine. The work will encompass a VTEM survey with a follow-up field program.

Equitas has signed an agreement with Geotech Ltd. to provide a VTEM Max survey over the entire 25,050 hectare property. The survey results will be integrated with existing airborne gravity and magnetic data, which will allow for the rapid identification of geophysical targets similar to those for other magmatic nickel-copper sulfide occurrences (ie. Voisey’s Bay). Targets will be ground tested with applicable ground geophysics and geological mapping/sampling to identify high priority targets that may warrant drilling.

Historic Exploration at the Garland Property

The Garland Property was explored by 10 separate companies, primarily between the years 1995 to 1999. At the time, individual claim blocks were relatively small with multiple owners, which was not conducive to a regional exploration strategy that allowed for the systematic exploration of the area. Exploration methods focused on out-dated frequency-domain airborne Electromagnetic (“EM”) surveys over isolated areas, and which have very shallow depth penetration capabilities (estimated at 75 metres). Further, reconnaissance rock sampling and mapping covered only a fraction of the Property.


Recently, in-between 2000 to 2007, parts of the property and areas to the west were explored by Vale Canada Limited (and its predecessors). Exploration methods included a regional Airborne Gravity Gradiometer (“AGG”) survey, with follow-up Induced Polarity (“IP”) ground-EM surveys, and ground reconnaissance sampling. This exploration resulted in the identification of several localized targets, but only one drill-hole is reported for the Property. Despite the absence of significant Ni-Cu-Co mineralization, the drill hole verified the suitability of the region to host a Voisey’s Bay-style deposit. The drill hole encountered “a sequence of variably textured gabbro-norites with trace very fine-grained disseminated sulphides locally”.

NI 43-101 Disclosure

Neil McCallum, P.Geol., Dahrouge Geological Consulting Ltd., a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.

Tim Fernback Added to the Board of Directors

Equitas would also like to welcome Tim Fernback to the team as a Director. Tim brings to Equitas over twenty years of experience in financing and managing public and private junior companies. Previously he oversaw a prominent British Columbia venture capital firm specializing in financing and consulting, and later ran the Investment Banking/Corporate Finance Division for the Western Canadian based brokerage firm, Wolverton Securities Ltd.

Everett Makela Becomes Equitas’ VP of Exploration

The Company is also pleased to announce Everett Makela joining the team as VP of Exploration to help advance Equitas’ pursuit of nickel discoveries. Everett has over 30 years of multi-national experience in the mineral exploration industry, with a commodities focus in magmatic nickel-copper-PGE, porphyry copper, gold, uranium and base metals. He was a key member of the Inco Limited exploration team for over twenty years, where he held positions of increasing responsibility in roles ranging from grassroots exploration to resource definition. His contributions to advancements in exploration methodologies and understanding of ore-forming processes were a solid part of Inco’s discovery and resource definition successes, most notably in the Sudbury Basin.

In 2006 Inco shareholders accepted a takeover deal in which the Company was acquired by Brazilian mining company Vale SA. Responding to a renewed corporate agenda, Everett played a critical role in re-inventing the Vale North American portfolio, resulting in substantial growth to Vale’s exploration budget for discovery across Canada, USA and Mexico. He has designed and managed programs with multi-million dollar budgets, and specializes in target generation and joint ventures/alliances. Everett retired from Vale as Principal Geologist, North America in 2012. He is Director of the private exploration consulting firm EFMX Consulting Ltd.

For more information, please visit the corporate website at http://equitasresources.com and contact Sean Kingsley, Corporate Communications at 604.681.1568 or email info@equitasresources.com.

On Behalf of the Board of Directors
EQUITAS RESOURCES CORP.

“Kyler Hardy”

Kyler Hardy
President

Tel: 604.681.1568

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

Forward-Looking Statements

This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this press release include but are not limited to modern exploration techniques will lead to discovery of nickel, copper, cobalt and platinum group element mineralization; advances in geophysical exploration will provide greater magnetic and structural interpretation; plans for a comprehensive exploration program and that targets will be tested on the ground.

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and Equitas undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

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