Equitorial Exploration Announces Channel Sampling Results from the Li Lithium Property

Vancouver, BC, Canada / TheNewswire / September 6th, 2016 - Equitorial Exploration Corp. (the "Company") (TSX Venture Exchange: EXX, Frankfurt: EE1, US Pinksheet: EQTXF) ("Equitorial") is pleased to announce results from the 2016 exploration program on the Company's 100% owned Li lithium property which hosts the Little Nahanni pegmatite group (LNPG). The Li property lies 30 km northwest of the Cantung Mine Site in the Northwest Territories, immediately east of the Yukon Territory border (Figure 1).

Lithium-cesium-tantalum pegmatite dyke swarms on the Li 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 52.60 m wide. Each dyke swarm contains multiple dykes that range from 0.2 to 10 m in width. The dykes strike northerly and have near vertical dips. They 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 lithium-cesium-tantalum pegmatite dyke swarms that comprise the Prison Wall, Berlin Wall, Great Wall of China and Hadrian's Wall dyke swarms within cirques 3 and 4 (Figure 2). Highlights from individual dykes within and adjacent to dyke swarms include:

• -1.57 % Li2O, 250.3 g/t Ta2O5 and 0.95% SnO2 across 1.70 m;

  -2.04% Li2O, 57.8 g/t Ta2O5, 0.05% SnO2 across 4.00 m;

  -3.10% Li2O, 53.6 g/t Ta2O5, 0.03% SnO2 across 0.95 m;

  -2.33% Li2O, 59.0 g/t Ta2O5, 0.05% SnO2 across 1.20 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; and,

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

The dykes are separated by sedimentary wallrocks including quartz sandstone, limestone and shale, which do not contain significant amounts of any elements of interest. When calculating weighted average grades for the dyke swarms, the wallrocks were assigned zero values for all elements. Weighted averages reported for dyke material within the dyke swarms omitted wallrock dilution. Table I below lists the channel sample highlights.

Prison Wall - A 16.80 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, 55.0 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 1.90 m and 1.57% Li2O, 250.3 g/t Ta2O5 and 0.95% SnO2 across 1.70 m, respectively.

Berlin Wall - A 35.80 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 35.80 m, with dykes within it averaging 1.50% Li2O, 63.9 g/t Ta2O5 and 0.05% SnO2 across a total of 6.90 m. The best individual dyke within the dyke swarm returned 2.04% Li2O, 57.8 g/t Ta2O5 and 0.05% SnO2 over 4.00 m.

On the south side of Cirque 3, a portion of the Berlin Wall swarm returned 1.00% 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 - A 52.60 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 52.60 m interval, fourteen 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 19.70 m interval across a portion of the Great Wall of China on the south side of Cirque 3 averaged 0.50% Li2O, 21.3 g/t Ta2O5 and 0.01% SnO2 over 19.70 m, including four dykes totaling 7.00 m that graded 1.41% 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.

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 6.30 m.

Twenty-five metres west of the 10.35 m exposure of the Hadrian's Wall dyke swarm, two additional dykes returned 0.85% Li2O, 80.9 g/t Ta2O5 and 0.05% SnO2 over 1.05 m.

Table I - Channel Sample Highlights

*1 - Width is 98 to 90% of the true thickness due to the near vertical dip.

*2 - Individual dyke outside of dyke swarm

*3 - Dyke swarm intervals, 20 m apart, separated by overburden

The best dyke interval reported to date was 1.59% Li2O over 10 m (Wengzynowski, 2002). This dyke was not re-located in 2016. Two 2007 diamond drill holes 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 (see Figure 2). The 2007 drill core is stored at a gated compound at Finlayson Lake in southeastern Yukon.

Analytical work was done by ALS Minerals, with sample preparation and geochemical analyses in North Vancouver, British Columbia. All rock samples were analyzed for 38 elements by lithium metaborate fusion and inductively coupled plasma-mass spectroscopy (ME-MS81). All elements are reported as parts per million (ppm). The conversion factor from tantalum (Ta) to tantalum pentoxide (Ta2O5) is 1.2211, while the conversion factor from tin (Sn) to tin dioxide (SnO2) is 1.2696. Because the tin values were reported in ppm, the values had to be divided by 10,000 to give the tin value in percent.

Ore grade lithium analysis was done by sodium peroxide fusion digestion and inductively coupled plasma -atomic emission spectrometry finish (ME-ICP82b). This technique reports in percent lithium and has a lower detection limit of 0.02% and an upper detection limit of 10%. The conversion factor from lithium (Li) to lithium oxide (Li2O) is 2.153.

The 2016 field program on the Li property was managed by Archer, Cathro & Associates (1981) Limited (Archer Cathro). Technical information in this news release has been approved by Heather Burrell, P. Geo., a senior geologist with Archer Cathro and a qualified person for the purpose of National Instrument 43-101.

Equitorial also wishes to announce the appointed of Buddy Doyle as director of the Company. Buddy Doyle is a geologist who has earned the distinction of having seen two 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.

Equitorial has granted a total of 1 million incentive stock options to directors/officers and consultants under the company's stock option plan. The options are exercisable at $0.095 per share and expire September 6, 2020.

On behalf of the Board of Directors

EQUITORIAL EXPLORATION CORP.



Jack Bal, President and Director

For further information, please contact Jack Bal at 604-306-5285

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