Equitorial Closes Non-Brokered Private Placement for Gross Proceeds of $123.710.10

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Equitorial Exploration Corp. (EXX:CA) (the "Company") announces that it has closed its non-brokered private placement (the "Private Placement") for gross proceeds of $123,710.10 by the issuance of 824,734 units of the Company (each a "Unit") at a price of $0.15 per Unit. Each Unit consists of one common share of the Company and one half of one transferable share purchase warrant (each whole warrant a "Warrant"). Each Warrant shall be exercisable to acquire one additional common share of the Company for a period of two years at a price of $0.25 per common share.

In connection with closing the Private Placement, the Company paid a cash finder's fee of $6,060 and issued 40,400 broker's warrants (the "Broker's Warrants") to Palisade Capital Corp.

Each Broker's Warrant is exercisable to acquire an additional common share of the Company for a period of two years at a price of $0.25 per common share. All securities issued under the Private Placement are subject to a four-month and a day hold period from the date of issuance.

The proceeds of the Private Placement will be used for general working capital, and to fund the Company's various projects, as disclosed in the Company's recent news releases.

On behalf of the Board of Directors

EQUITORIAL EXPLORATION CORP. "Dean Pekeski" Dean Pekeski, President and Director

For further information, please contact either Dean Pekeski or Patrick Power at 604-689-1799.

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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