Equinox Minerals Limited

Equinox Minerals Limited

January 26, 2007 15:54 ET

Equinox Lumwana Project wins Project Finance International Mining Deal of the Year Award

TORONTO, ONTARIO--(CCNMatthews - Jan. 26, 2007) -


Equinox Minerals Limited (TSX:EQN)(ASX:EQN) ("Equinox" or the "Company") is pleased to report that the Company's Lumwana Project ("Lumwana") has been awarded "Mining Deal of the Year" by Project Finance International ("PFI") at the PFI Annual Awards Dinner held recently in London, England.

The prestigious PFI Awards are decided by the industry through a public on-line voting process. The awards host over 30 different citations regionally and globally and are widely recognized as the ultimate symbol of excellence and achievement in the project finance industry. The Company's award represented the winner in PFI's "European, Middle Eastern and African" category.

The "Mining Deal of the Year" award recognizes the Company's significant achievement (see announcement December 01, 2006) in securing the US$583.8 million senior and subordinated project finance debt facility for the completion of development and construction of Lumwana.

The debt facility will be provided by a syndicate of European, African and Australian based Commercial Lenders, Developmental Finance Institutions and Export Credit Agencies.

Lumwana is located in the North Western Province of the Republic of Zambia, west of the world-renowned Copperbelt. Equinox owns 100% of Lumwana. With proven and probable reserves totalling 321 million tonnes of ore grading at 0.73% Copper, Lumwana represents one of the largest fully permitted copper projects in the world currently in construction. Mine construction remains on schedule with commissioning expected during Q2 2008.

Commenting on winning the prestigious award, Craig Williams, Equinox President and CEO said, "Signing the Lumwana debt package was a milestone event for the Company. The facility underpins the Lumwana Project and as such, was a critical achievement to timely development of Africa's largest copper mine. We are delighted that our solid work, conducted over some 25 months, has been recognised at the highest level by the project finance community. We came to Zambia in 1996 and to Lumwana in 1999 and our progress is testament to the tenacity, skill and perseverance of the committed Equinox team who are bringing this exciting development to reality."

On Behalf of the Board of Directors of Equinox:

Craig R. Williams - President & Chief Executive Officer

For information on Equinox and technical details on the Lumwana Project please refer to the company website at www.equinoxminerals.com

Cautionary Language and Forward Looking Statements

This press release contains "forward-looking statements", which are subject to various risks and uncertainties that could cause actual results and future events to differ materially from those expressed or implied by such statements. Investors are cautioned that such statements are not guarantees of future performance and results. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure documents filed from time to time with the Canadian and Australian securities authorities.

ARBN 108 066 986

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