CHEYENNE, WY, Nov. 21 /PRNewswire-FirstCall/ -- Equitable Mining Corp. (EQUITABLE), a resource company trading as EQBM on PinkSheets.com and E5W on the Frankfurt Exchange, has received its NOBO report (Non-Objecting Beneficial Owners) and has compared it to the DTC and transfer agent shareholders lists. After extensive comparisons of the NOBO list with known share counts, management has determined that there is an identified Shorted Share count of over 100 millions shares. The tradable float is approximately 100 million shares when all restricted shares are accounted for. Currently the NOBO report shows over 200 millions shares being owned which clearly identifies a potential short position of approximately 100 million shares. Additionally, an OBO report is being ordered immediately to account for other potential shares. This could further increase the shorted position. In addition to this known verified short position, management has verified at least three other individually known shareholder cases where share counts were not reported back properly on the NOBO list. The discrepancy in these three cases lessens the NOBO totals by up to an additional 18 million shares and potentially increasing the shorted share count. Management feels there could be others who have requested to be on the NOBO list whose shares are not showing up properly which makes the potential of shorted share amounts to be significantly larger than reported here. The company also would like to state that the current shares outstanding are 454,000,000 fully diluted. The company plans to retire a minimum of 50 million shares in the near future. The company has no current plans of financing or any dilution of its share capital except for a possible acquisition or a major joint venture. "Short selling, especially 'naked' short selling is a drain on the investment community and takes millions of dollars from investors. It also significantly reduces the ability of small cap companies to raise capital for their operations. By identifying that there is a short position, we hope to address the issue and see a more accurate share price," stated Larry Skolnik, President of Equitable Mining Corporation. Equitable management is taking steps to build shareholder value, and to start to force the large position of shorts to cover. The company has announced a Dividend and Warrant Offering that management believes will build extensive shareholder value. Full details of this offering will follow shortly. About EQUITABLE 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, Larry Skolnik, President, Tel (416) 410-3995, Fax (416) 784-1529,

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