Equinox Minerals Limited

Equinox Minerals Limited

July 05, 2005 09:43 ET

Equinox Announces the Appointment of Sir Sam Jonah as Non-Executive Chairman

TORONTO, ONTARIO--(CCNMatthews - July 05, 2005) -


Equinox Minerals Limited (TSX:EQN)(ASX:EQN) is very pleased to announce that Sir Sam Jonah has been appointed to its Board of Directors effective immediately. Sir Sam has also accepted the appointment of Non-Executive Chairman and will be a member of the Audit Committee, Compensation Committee and the Corporate Governance and Nominating Committee replacing Mr Geoff Reynolds who will retire from the Board.

Equinox President and Chief Executive Officer, Mr Craig Williams said of Sir Sam's appointment, "I am thrilled that Sam has agreed to join our Board of Directors as Non-Executive Chairman. Sam's extensive experience and stature within the mining industry as one of Africa's pre-eminent mining executives will bring a wealth of expertise to the Board and to Equinox that will provide invaluable assistance and guidance as Equinox continues to move forward with the development of its principal asset, the Lumwana Copper Project in Zambia, scheduled for production in 2007."

Sir Sam Jonah is President (moving to Non-Executive President from 31 July 2005) of AngloGold Ashanti Limited, a NYSE listed company (Symbol: "AU") which is one of the world's largest gold companies with a market capitalization of more than US$9.5 billion. Prior to this, he was Chief Executive Officer of Ashanti Goldfields Company Limited in 1986 and oversaw its growth and listing as the first operating Sub-Saharan African company on the NYSE. He became President of AngloGold Ashanti in May 2004, when Ashanti was merged with AngloGold Limited. His other directorships include Anglo American Corporation of South Africa and Anglo American Platinum Corporation Ltd (Amplats) amongst others.

Sir Sam Jonah was conferred with an Honorary Knighthood by Her Majesty Queen Elizabeth II of Great Britain and has been decorated with many awards and honours, including an honorary Doctor of Science, awarded jointly by the Camborne School of Mines and the University of Exeter (UK) in 2003. He is a member of numerous advisory committees including President Thabo Mbeki's International Investment Advisory Council of South Africa and President Kufuor's Ghana Investors' Advisory Council.

In conjunction with Sir Sam's appointment the Company has offered him, subject to shareholder approval, 3 million stock options to acquire Equinox shares at an exercise price of C$0.48 on or before 4 July 2015.

Mr Craig Williams thanked Mr Geoff Reynolds for his 5 years of service with Equinox as Director and Chairman stating, "Geoff has provided an outstanding contribution to Equinox during the critical stage of Lumwana Project feasibility and financing. Although we wish him well in retirement, I hope he allows me to continue to seek his valuable counsel in the future."

Mr Williams added, "Sam's appointment is a further step in strengthening Equinox's management base and Board capacity as the Company continues to move forward with Lumwana. I look forward to working with Sam as the Company progresses through this exciting and critical phase of its development growth."

Equinox is a Canadian-Australian listed resource company engaged principally in the exploration and development of mineral properties in Zambia. Equinox has completed a bankable feasibility study at its 100% owned Lumwana Project in Zambia. With Measured and Indicated Resource of 269 million tonnes of ore grading at 0.8% Cu, Equinox plans to develop Lumwana to become a mid-tier copper mining company and to produce cash flow to sustain further exploration and growth, thereby maximizing shareholder returns through capital appreciation.

Equinox is also actively exploring in Zambia, Australia and Peru.

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

Forward Looking Statements

This press release may contain "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 Toronto and Australian securities authorities. The independent feasibility study, prepared by Aker Kvaerner, Golder Associates and Investor Resources Ltd has been disclosed in the Technical Report dated April 2004, and is compliant with the JORC Code and National Instrument 43-101. Unless otherwise indicated, technical information contained in this release is based on information compiled by a "Qualified Person" who is either a corporate member of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists or the CIM. With respect to statements relating to exploration activities, the Qualified Person is Mr Michael Richards, an employee of the Company.

Contact Information

  • Equinox Minerals Limited
    Craig R. Williams
    President and Chief Executive Officer
    +61 (0) 8 9322 3318
    Equinox Minerals Limited
    Michael Klessens
    V.P. Finance and CFO
    +61 (0) 8 9322 3318
    Equinox Minerals Limited
    Kevin van Niekerk
    V.P. Investor Relations/Corporate Development
    +1 (416) 865 3393