Equinox Minerals Limited
TSX : EQN
ASX : EQN

Equinox Minerals Limited

September 24, 2007 13:27 ET

Equinox Announces Private Placement of Common Shares to Lumwana EPC Contractors for Reaching Milestone

TORONTO, ONTARIO--(Marketwire - Sept. 24, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Equinox Minerals Limited (TSX:EQN)(ASX:EQN) ("Equinox") announce that, in connection with the execution of the US$407.6 million Lumwana Copper Project fixed price EPC construction contract ("EPC") as announced on October 16, 2006, Equinox has issued to Ausenco Projects Limited and Bateman International Projects BV, a subsidiary of Bateman Engineering NV, the EPC Contractors, a total of 1,108,544 common shares ("Common Shares") (50% to each party) at C$3.8951 per share (the five-day volume weighted average trading price on the Toronto Stock Exchange determined at the close of markets on September 21, 2007) to the value of C$4,317,892 (US$4,314,009) that being a portion of the second quarterly milestone payment under the terms of the EPC contract.

Remaining quarterly Common Share issuances will be made progressively over the term of the EPC contract and will total US$8,628,000.

Commenting, Craig Williams, Equinox President and CEO said: "This milestone payment signifies that the completion of Lumwana has now passed the 50% mark and continues to remain on track for a mid-2008 commissioning".

The securities referred to in this announcement have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available.

The Company gives this notice pursuant to Section 708A(5)(e) of the Australian Corporations Act. The Shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act, in reliance on Section 708A(5)(e) of the Corporations Act. The Company, as at the date of this notice, has complied with:

(a) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

(b) Section 674 of the Corporations Act.

There is no excluded information for the purposes of Sections 708A(7) and (8) of the Corporations Act.

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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