EQT

NOT FOR DISSEMINATION IN THE UNITED STATES  OR FOR RELEASE TO U.S. NEWSWIRE
SERVICES 


Further to its press release dated September 6, 2011, Equitas Resources Corp.
(TSX VENTURE:EQT) (FRANKFURT:T6U1) (the "Company") is pleased to announce that
it has closed the second tranche of its private placement previously announced
on July 7, 2011. The Company has raised $758,750 through the issuance of
5,058,333 Units (the "Units") at a price of $0.15 per Unit. This second tranche
closes the entire private placement for an aggregate of 15,058,333 Units of the
Company at a price of $0.15 per Unit for gross proceeds of $2.26 million. The
private placement includes a $1.35 million strategic investment by Yield Gold
Group Limited ("Yield Gold"), a wholly-owned subsidiary of Zijin Mining Group
Co., Ltd. ("Zijin"). Zijin is a large international mining group listed on the
Hong Kong and Shanghai Stock Exchanges that is primarily focused on the
exploration and development of gold and base metal projects. 


Each Unit consists of one common share (a "Share") and one half of one share
purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the
holder to purchase one additional Share of the Company for a period of 24 months
from the closing date at a price of $0.20 per Share. The Shares and any shares
issued upon exercise of the Warrants in this second tranche are subject to a
hold period expiring January 22, 2012. 


Under the investment agreement between the Company and Yield Gold (the
"Agreement"), 9,000,000 Units of the Company were issued to Yield Gold at a
price of $0.15 per Unit for gross proceeds of $1.35 million. Upon closing, Yield
Gold will own approximately 19.9% of the Company on a fully-diluted basis. 


Under the terms of the Agreement, Yield Gold is entitled to a board seat and
will have a right of first refusal on the development of properties as proposed
by the Company. This right is exercisable for a period of 60 days following the
decision by the Company to put any part of its properties into production. Yield
Gold also has a right of first refusal on any potential sale of any of its
properties which right is exercisable for a period of 60 days from the date an
offer is received to purchase such property. Subject to shareholder approval,
Yield Gold has also been granted an option to acquire up to an additional number
of shares such that its aggregate holdings would be 31% of the issued and
outstanding common shares of the Company on a fully diluted basis. The price at
which such option can be exercised is equal to the average closing price of the
common shares of the Company for the 20 trading days prior to the exercise of
such option. The option is exercisable any time up to the earlier of the date on
which Yield Gold holds 31% of the Company's shares and 12 months from the date
shareholder approval for the option is obtained. 


In connection with the closing of the second tranche of the private placement
finder's fees totalling $12,000 were paid in accordance with the policies of the
TSX Venture Exchange. The proceeds from the private placement will be used for
general working capital and mineral exploration on the Company's properties.


About Zijin Mining Group 

Zijin is a large international mining group that is primarily focused on the
exploration and development of gold and base metal projects. Zijin has
subsidiaries in over 20 provinces in China and in seven other foreign countries.
It is a public company listed on the Hong Kong Stock Exchange (HKSE: stock code:
2899.HK) and the Shanghai Stock Exchange (SHA: 601899.SS) with a multi-billion
dollar market capitalization. 


About Equitas Resources Corp. 

Equitas is a junior exploration and development company focused on creating
shareholder value through discovery. The Company is at the early stage of the
value creation process focused primarily on copper gold porphyry targets,
including the Day Copper-Gold Porphyry Project located in the Toodoggone region
of north central British Columbia. For more information please visit the
Company's website at http://www.equitasresources.com or email
info@equitasresources.com. 


The securities being offered have not been, nor will they be, registered under
the United States Securities Act of 1933, as amended, and may not be offered or
sold in the United States or to, or for the account or benefit of, U.S. persons
absent registration or an applicable exemption from registration requirements.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy nor shall there be any sale of the securities in any state in
which such offer, solicitation or sale would be unlawful. 


On Behalf of the Board

Jay Roberge, President and Director 

Statements in this press release which are not purely historical are
forward-looking statements, including any statements regarding beliefs, plans,
expectations or intentions regarding the future. Forward-looking statements in
this news release include that the proceeds of the private placement will be for
advancing the Company's exploration plans and for general working capital and
that a finder's fee may be payable in accordance with the policies of the TSX
Venture Exchange. 


It is important to note that actual outcomes and the Company's actual results
could differ materially from those in such forward-looking statements. Risks and
uncertainties include, but are not limited to, economic, competitive,
governmental, environmental and technological factors that may affect the
Company's operations, markets, products and prices. Readers should refer to the
risk disclosures outlined in the Company's Management Discussion and Analysis of
its audited financial statements filed with the British Columbia Securities
Commission.

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