Equinox Exploration Corp.

Equinox Exploration Corp.

April 12, 2012 08:30 ET

Equinox Exploration Finalizes the Definitive Agreement to Acquire the Aura Mining Lease in Chile

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 12, 2012) - Equinox Exploration Corp. (TSX VENTURE:EQX) ("Equinox") is pleased to announce that, further to its Letter of Intent (LOI) news release issued February 22, 2012, it has entered into a definitive agreement with Mineral Pro LLC to acquire 100% of their Chilean subsidiary, Mineral Pro Chile, SPA.

Equinox will acquire 100% of Mineral Pro Chile, SPA which holds the Aura Mining Lease. The Aura Mining Lease encompasses 1,100 acres in the Atacama region of Chile and produced some copper in 2011.

Under the terms of the agreement, Equinox will gain a 100% interest in the Aura Mining Lease by making total cash payments to Mineral Pro LLC of $250,000 over five years, with $50,000 being due upon signing of the definitive agreement and $50,000 due per year for the next four years.

In addition, Mineral Pro LLC will receive 3,500,000 shares of Equinox payable over 4 years and a two percent royalty on net smelter returns. Equinox has the right to purchase all or any part of the royalty for $250,000 per each one percent.

The final closing of the acquisition is subject to a pending due diligence review and to TSX-Venture Exchange approval.

Roy Fuller, Director for Equinox Exploration, states: "The acquisition of the Aura Mining Lease adds a special and exciting dimension to the Equinox portfolio, moving us closer to our goal of being a copper producer. I am excited that the Equinox management team will be in Chile again next week moving our project forward."

About Equinox Exploration Corp.

Equinox Exploration Corp. is a publicly traded corporation listed on the TSX-Venture Exchange (TSX VENTURE:EQX) and is engaged in mineral exploration and development. The major focus is on copper exploration properties in the Southwest United States where management has extensive experience and a proven track record of discovery. To find out more about Equinox visit its website at www.EquinoxExploration.com.

Stephen B. Butrenchuk, P.Geol., P.Geo., Director of Equinox, is the Qualified Person as defined in National Instrument 43-101 who has reviewed and approved the technical content of this news release.

On behalf of the Board of Directors of Equinox Exploration Corp.

Joshua Bleak, President

Forward-Looking Statement

This news release includes certain statements that may be deemed "forward-looking statements". Forward-looking information includes, but is not limited to: statements with respect to the effect and estimated timeline of the drilling and assay results on the Company; the estimation of mineral reserves and mineral resources; the timing and amount of estimated future exploration; costs of exploration; capital expenditures; success of exploration activities; permitting time lines and permitting; government regulation of mining operations; potential future expansion of the PFNP; environmental risks; unanticipated reclamation expenses; and title disputes or claims. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include: unsuccessful exploration results; changes in metals prices; changes in the availability of funding for mineral exploration; unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filings that are available at www.sedar.com.


Contact Information