Equinox Minerals Limited
TSX : EQN
ASX : EQN

Equinox Minerals Limited

December 08, 2006 10:02 ET

Equinox Announces Private Placement of Common Shares to European Investment Bank

TORONTO, ONTARIO--(CCNMatthews - Dec. 8, 2006) -

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$583.8 million bank debt facility as announced on December 1, 2006, it has issued to the European Investment Bank ("EIB"), in its capacity as subordinated lender and in accordance with the EIB subordinated loan, 2,713,341 million common shares ("Common Shares") at C$2.1175 per share to the value of C$5,745,500 (US$5,000,000) as part of providing the EIB loan facilities. The Common Shares and the issue price was determined by dividing US$5,000,000 by the five-day volume weighted average trading price on the Toronto Stock Exchange of the Corporation's Common Shares as of the close of markets on December 7, 2006.

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.

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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