Summary

Equatorial Resources Limited advises that it has filed a Memorial of Claim at the International Centre for Settlement of Investment Disputes (ICSID) in Washington, D.C. in the Company's ongoing international arbitration proceedings against the Republic of Congo (Congo). As previously announced, Equatorial, through its Mauritian subsidiary, EEPL Holdings (EEPL), referred its investment dispute with Congo to arbitration at ICSID following unlawful measures taken by Congo against EEPL's investments in two iron ore projects: the Badondo Iron Ore Project (Badondo), located in the Sangha region of Congo, and the Mayoko-Moussoundji Iron Ore Project (Mayoko-Moussondji), located in the Niari region of Congo (together, the Projects).