Equitorial Exploration Announces the Cancellation of Certain Stock Options

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Vancouver, BC, Canada / TheNewswire / May 8, 2018 – Equitorial Exploration Corp. (TSX-V:EXX, Frankfurt: EE1, OTCQB: EQTXF) (“Equitorial” or “Company”) announces that effective April 1, 2018 and May 1, 2018, the Company cancelled a total of 1,675,000 incentive stock options (“Options”) granted under the Company’s stock option plan (the “Option Plan”) to certain Consultants of the Company (a total of 675,000 Options cancelled effective April 1, 2018 and a total of 1,000,000 Options cancelled effective May 1, 2018). The April 1, 2018 cancelled Options were voluntarily surrendered by the holders thereof for no consideration.  The May 1, 2018 cancelled Options were negotiated with the Consultants at a lower number of Options. The cancelled Options were granted from May 24, 2013 to November 13, 2017,  and were exercisable at prices ranging from $0.10 to $0.275 for a period of five years from the date of grant.  

The Option Plan allows the board of directors to issue the equivalent of up to 10% of the issued and outstanding share capital of the Company on a rolling basis.

About Equitorial Exploration Corp

Equitorial is aggressively developing four 100%-owned, high-potential, lithium projects in North America. The Little Nahanni Pegmatite Group (LNPG) is a 43-101 compliant, hard rock, lithium property in the NWT. The Cat Lake Lithium Property in Manitoba, Canada is directly adjacent to the Cat Lake Mineral Project, a highly prospective Lithium property. The Tule and Gerlach Lithium Brine Projects are located in lithium-rich Utah and Nevada within easy reach of the Tesla Gigafactory #1. All four projects have demonstrated highly encouraging grades.

For more information please visit:  http://equitorialexploration.com/

On behalf of the Board of Directors


Jack Bal, CEO and Director

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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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