Significant Deposits of Gold, Platinum, Palladium, Rhodium and Copper Identified TORONTO, March 1 /PRNewswire-FirstCall/ -- Equitable Mining Corporation (Pink Sheets: EQBM - News), a growing company focused on finding, acquiring and extracting gold and other mineral reserves worldwide, announced the completion of a memorandum of understanding with D.A.K., a privately owned Chinese resource corporation held by H.M.H. of Hong Kong, to acquire a precious metals mining project in Dalian, China. Once the due diligence is completed and agreements are signed Equitable Mining Corp. will own 35% of all operations and mineral rights. Significant deposits of gold, platinum, palladium, rhodium and copper have been identified in the mine and mine tailings and monthly revenues of $1.6 million and annual revenues of $19.2 million are projected. The Dalian acquisition covers the mineral rights to 220,000 square meters of land leased from the government for 25 years and includes 5.2 million tons of mine tailings plus infrastructure in place including roads, electricity, water, fencing, storm sewer, transportation and one production line. To date $7 million has been invested in the project by H.M.H. and D.A.K. Once the acquisition is complete Equitable Mining Corp. plans to increase production to three lines within the first eight months. The company will utilize D.A.K.'s environmentally friendly leaching process to extract the mineral deposits. "Signing a memorandum of understanding with D.A.K to acquire the Dalian project is a major accomplishment with highly promising prospects for our company," said Wayne Reid, a Director of Equitable Mining Corp. "Commitments for the first transaction phase have been received and we are traveling to the site later this month for further due diligence. We are very excited about this transaction." Dalian is a thriving city in Northeastern China with a population of 5.9 million. In 2002 there were 8,233 foreign-funded enterprises approved in Dalian with contractual foreign investment of $22.9 billion U.S. For more information on Dalian, visit http://www.dalian-gov.net/guide.asp. In addition to the Dalian project Equitable Mining Corp. has been acquiring mining properties in North and South America. The company recently announced the purchase of its Bonanza Property in Ontario, Canada's historically prolific Red Lake Gold Camp. More than 25 million ounces of gold have been produced in Red Lake since 1935. Equitable's Bonanza Property consists of 14 claims adjacent to Goldcorp's Red Lake Mine, which produces 550,000+ ounces annually and is one of the richest, most profitable gold mines in the world. Red Lake Mine contains the world-renown High Grade Zone with 4.4 million ounces of high grade gold reserves. Recently Goldcorp purchased 10% of neighboring Wolfden Resources for $3.60 CDN a share, a total of $18.5 million USD, in part due to its drilling activity on the Bonanza-Follansbee project which is directly adjacent to the properties owned by Equitable Mining Corp. In December Placer Dome Inc., whose 210,000 ounce-producing Campbell Mine is located nearby in Red Lake Camp, announced that exploration drilling confirmed the extension of Goldcorp's High Grade Zone into neighboring Campbell Mine. Equitable Mining owns claims adjacent to Red Lake Mine, Campbell Mine and the newly acquired Wolfden claims. Equitable Mining recently assembled an international acquisition team to target high-yield mining projects in mineral-rich areas of North America, Latin America and Australasia. With joint-venture partner Atlantis Acquisition 1, the company announced it is close to closing on its first South American precious metals project in Colombia, where striking test results indicate confirmed deposits of a rich gold-copper-silver. The company has also entered into discussions around an additional group of claims in Northern Ontario and other North American locations. About Equitable Mining Corporation (Pink Sheets: EQBM) Equitable Mining Corporation is a rapidly expanding company focused on acquiring, exploring, developing and extracting mineral rights worldwide. Projects include the Bonanza Property in Canada's high-yield Red Lake Gold Camp, an acquisition in progress in Colombia, a memorandum of understanding for a precious metals mine in China, and ongoing acquisition programs in mineral-rich areas of North America, South America and Australasia. The company is leveraging its deep industry expertise and extensive contacts to recruit mining industry veterans and expand its search for quality gold and other precious metals-bearing properties in the Americas and Australasia. For more information visit http://www.equitablelifeinvestments.com/. Safe Harbor Certain statements above constitute forward-looking statements with respect to MEM Financial Solutions and affiliated companies. Such forward- looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the companies to be materially different from any further results, performance or achievements expressed or implied by such forward-looking statements. DATASOURCE: Equitable Mining Corp. CONTACT: Equitable Mining Corporation, Jim Adams, Director, Tel (416) 410-3995, Fax (416) 784-1529, http://www.equitablelifeinvestments.com/

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