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High-Grade Lithium Assays From Channel Sampling

|Includes: Equitorial Exploration Corp. (EQTXF)

Channel sampling at the LNPG Property in Northwest Territories, Canada.

Yesterday, Equitorial Exploration Corp. (TSX.V: EXX) disclosed assays from 81 channel samples from 4 lithium-cesium-tantalum pegmatite dyke swarms from its 100% owned Little Nahanni Pegmatite Group (LNPG) Property in Northwest Territories (NWT). Best assays include 3.1% Li2O across 0.95 m, 2.33% Li2O across 1.2 m, 2.04% Li2O across 4 m and 1.63% Li2O across 5.15 m.

The property hosts the rare pegmatite-type LCT (Lithium-Cesium-Tantalum), which the world's largest active lithium mine, Greenbushes in Australia, is also hosting (at an average grade of 2.8% Li2O). LNPG's best historic rock samples assayed between 1.74% and 3.77% Li2O. Therefore, historic grades have been confirmed yesterday, however channel samples are a better indication of mineralization than grab or chip samples. In 2007, channel samples returned up to 1.59% Li2O across 10 m. Drilling in 2007 resulted in 2 lithium-enriched intervals including 1.2% Li2O over almost 11 m and 0.92% Li2O over 18 m.

Equitorial also announced the appointed of Buddy Doyle as new director, a geologist who has earned the distinction of having seen 2 substantial projects from discovery through the decision to mine, especially the Diavik Diamond Deposit. He brings a disciplined, scientific approach to mineral exploration honed in over 28 years' experience, 23 of them spent in various positions at Rio Tinto PLC and its subsidiaries.

Equitorial's LNPG Property is located 30 km northwest of the recently closed Cantung Tungsten Mine. A gated road extends northwest from Cantung and passes within 5 km of the LNPG Property. This road is projected to be the main access road for the Howard's Pass Project, one of the world's largest undeveloped zinc-lead deposits (Selwyn Chihong Mining Ltd. of China has spent more than $100 million in the last 10 years exploring this deposit and has recently completed a pre-feasibility study).

Lithium-cesium-tantalum ("LCT") pegmatite dyke swarms, containing the lithium-bearing mineral spodumene, on the LNPG Property have been traced over a combined length of 13 km in mountainous terrain that is deeply incised by several east- or west-facing cirques. The sampled portions of the dyke swarms are up to 53 m wide. Each dyke swarm contains multiple dykes that range from 0.2-10 m in width. The dykes strike northerly, have near vertical dips, and are well exposed on cirque walls, but most of these areas are too steep to sample. Fortunately, relatively continuous bedrock exposures are accessible at the base of cliffs on the north and south side of cirques. Cirque floors are covered by overburden.

During the 2016 field program, a total of 81 channel samples were cut across parts of the LCT pegmatite dyke swarms that comprise the Prison Wall, Berlin Wall, Great Wall of China andHadrian's Wall dyke swarms within cirques 3 and 4. The best dyke interval reported to date was 1.59% Li2O over 10 m (Wengzynowski, 2002). This dyke was not re-located in 2016. 2 diamond drill holes in 2007 returned high lithium oxide (Li2O) assays of 1.2% over 10.94 m (MAC 007) and 0.92% over 18.27 m (MAC 006). It is unclear if these intervals comprise single dykes or dykes and intervening wallrocks. The collars for MAC 007 and 006 were relocated in 2016 on the ridge north of Cirque 3. The 2007 drill core is stored at a gated compound at Finlayson Lake in southeastern Yukon.

Highlights from individual dykes within and adjacent to dyke swarms from the recent channel sampling program:

• 1.57% Li2O, 250.3 g/t Ta2O5 and 0.95% SnO2 across 1.7 m

• 2.04% Li2O, 57.8 g/t Ta2O5, 0.05% SnO2 across 4 m

• 3.1% Li2O, 53.6 g/t Ta2O5, 0.03% SnO2 across 0.95 m

• 2.33% Li2O, 59 g/t Ta2O5, 0.05% SnO2 across 1.2 m

• 1.67% Li2O, 41.4 g/t Ta2O5, 0.03% SnO2 across 3.75 m

• 1.83% Li2O, 67.3 g/t Ta2O5, 0.05% SnO2 across 1.25 m

• 1.63% Li2O, 52.9 g/t Ta2O5, 0.01% SnO2 across 5.15 m

Yesterday, Equitorial also announced the appointmend of Buddy Doyle as director of the company:

Buddy Doyle is a geologist who has earned the distinction of having seen 2 substantial projects from discovery through the decision to mine. He brings to the company a disciplined, scientific approach to mineral exploration honed in over 28 years' experience, 23 of them spent in various positions at Rio Tinto PLC and its subsidiaries (RTZ). His most recent position at RTZ was Exploration Manager/Vice President of Kennecott Canada Exploration Inc., where, leading a staff that numbered up to 100 individuals, he was responsible for diamond exploration in North America from 1992 to 2004.

At Kennecott Canada, Mr. Doyle led the team that discovered the Diavik diamond deposits in 1994-1995. Prior to transferring to Kennecott Canada, Mr. Doyle was a key member of the Kennecott Exploration Australia team that discovered the multi-million ounce Minifie gold deposits at Lihir in 1987-1988. Mr. Doyle is recognized by his peers in the exploration industry as an authority on diamond exploration and kimberlite geology. He was awarded the Hugo Dummett diamond award for excellence in Diamond exploration in 2007. He has also authored numerous scientific papers on related topics.

Since leaving Rio Tinto, Mr. Doyle has remained active in the diamond sector, discovering a new 5 diamondifereous kimberlite province with the Dharma Kimberlite discovery, Great Bear Lake, NT, Joint Venture partner in the U2 discovery in the James Bay lowlands, Ontario, the La Pointe discovery in Ontario and director of companies involved in the Lihqabong and Lemphane Kimberlites in Lestho and the Latahoki Kimberlite in Finland. Mr. Doyle is a graduate of the Queensland University of Technology, with a B.Sc. in Applied Geology. He is a member of the Australian Institute of Mining and Metallurgy since 1992, the Society of Economic Geology, the Society of Exploration Geophysicists and the Society of Exploration Geochemists.


Picture of the Prison Wall pegmatite dyke swarm (north side of Cirque 4)

Prison Wall: A 16.8 m interval was channel sampled across an exposed portion of the Prison Wall on the north side of Cirque 4. The weighted average grade across this interval was 0.29% Li2O, 14.4 g/t Ta2O5 and 0.01% SnO2 over 16.80 m, including a total of 4.4 m of dyke material that graded 1.12% Li2O, 55 g/t Ta2O5 and 0.05% SnO2. Two individual dykes located 13 m and 27 m northeast of the dyke swarm were also sampled, and they returned 0.87% Li2O, 56.4 g/t Ta2O5 and 0.03% SnO2 across 1.9 m and 1.57% Li2O, 250.3 g/t Ta2O5 and 0.95% SnO2 across 1.70 m, respectively.

Hiking to the Prison Wall:

Picture of the Great Wall of China pegmatite dyke swarm (north side of Cirque 3):

Great Wall of China: A 52.6 m interval across the Great Wall of China on the north side of Cirque 3 returned a weighted average grade of 0.38% Li2O, 20.7 g/t Ta2O5 and 0.01% SnO2. Within the 52.6 m interval, 14 individual dykes were sampled for a total thickness of 16.65 m. The combined thickness of the dykes graded 1.21% Li2O, 65.4 g/t Ta2O5 and 0.03% SnO2. A 19.7 m interval across a portion of the Great Wall of China on the south side of Cirque 3 averaged 0.5% Li2O, 21.3 g/t Ta2O5 and 0.01% SnO2 over 19.7 m, including 4 dykes totaling 7 m that graded1.41% Li2O, 59.9 g/t Ta2O5 and 0.04% SnO2. An individual dyke located 77 m east of the Great Wall of China dyke swarm on the south side of Cirque 3 returned 1.63% Li2O, 52.9 g/t Ta2O5 and 0.01% SnO2 over 5.15 m.

Great Wall of China, north side, Cirque 3:

Picture of the (not sampled) Great Wall of China pegmatite dyke swarm (north side of Cirque 2):

Berlin Wall: A 35.8 m interval was channel sampled across part of the Berlin Wall on the north side of Cirque 4. This interval yielded 0.29% Li2O, 12.3 g/t Ta2O5 and 0.01% SnO2 across 35.8 m, with dykes within it averaging 1.5% Li2O, 63.9 g/t Ta2O5 and 0.05% SnO2 across a total of 6.9 m. The best individual dyke within the dyke swarm returned 2.04% Li2O, 57.8 g/t Ta2O5 and 0.05% SnO2 over 4 m. On the south side of Cirque 3, a portion of the Berlin Wall swarm returned 1% Li2O, 21.3 g/t Ta2O5 and 0.01% SnO2 across 4.45 m, including 1.95 m of dyke material that graded 2.29% Li2O, 48.7 g/t Ta2O5 and 0.01% SnO2.

Great Wall of China, top near MAC006 and MAC007:

Great Wall of China, south side of Cirque 4 (not sampled):

Hadrian's Wall: A 10.35 m wide portion of Hadrian's Wall was sampled on the south side of Cirque 3. This interval returned 1.13% Li2O, 71.1 g/t Ta2O5 and 0.03% SnO2 over 10.35 m. Within that interval, dyke material graded 1.86% Li2O, 116.7 g/t Ta2O5 and 0.05% SnO2 across 6.3 m. 25 m west of the 10.35 m exposure of the Hadrian's Wall dyke swarm, 2 additional dykes returned 0.85% Li2O, 80.9 g/t Ta2O5 and 0.05% SnO2 over 1.05 m.

Example of channel sample interval layout:


Company Details

Equitorial Exploration Corp.
Suite 1400 - 1111 West Georgia Street
Vancouver, BC, Canada V6E 4M3
Phone: +1 604 689 1799
Email: info@equitorial.ca
www.equitorial.ca

Shares Issued & Outstanding: 52,752,571

Canadian Symbol (TSX.V): EXX
Current Price: $0.08 CAD (September 6, 2016)
Market Capitalization: $4 million CAD

German Symbol / WKN (Frankfurt): EE1 / A14SME
Current Price: €0.049 EUR (September 6, 2016)
Market Capitalization: €3 million EUR


Previous Coverage

Research #1: "Major Lithium Acquisition for Equitorial" (July 27, 2016)


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