Equitas Resources Corp. has arranged a non-brokered private placement of up to five million flow-through units at a price of five cents per flow-through unit and up to five million units at five cents per unit for gross proceeds of up to $500,000. Each flow-through unit will consist of one flow-through common share and one-half of one non-flow-through common share purchase warrant in the capital of the company. Each whole share purchase warrant is exercisable into one common share of the company for a period of 24 months from closing at a price of 10 cents per common share. Each unit will consist of one non-flow-through common share and one warrant. Each warrant is exercisable into one common share of the company for a period of 24 months from closing at a price of 10 cents per common share.

All the securities issuable will be subject to a four-month hold period from the date of closing. The private placement is subject to the approval of the TSX Venture Exchange. Finders' fees may be payable in connection with this private placement.

The proceeds of the private placement will be used to advance the company's exploration activities at the Garland property in Labrador, Canada, and for general working capital.

In addition, the company would like to inform shareholders it has decided not to proceed with its option on the Day property. Specific claims will be returned to the underlying prospector in accordance with the terms of the option agreement. The remainder of the property remains in the company's possession with no expenditures due until 2017.