Equinox Minerals Limited
TSX : EQN
ASX : EQN

Equinox Minerals Limited

October 19, 2006 14:23 ET

Equinox Explores Copperbelt-Drills 64m @ 2.33% Copper Including 38m @ 3.5% Copper at Ndola West

TORONTO, ONTARIO--(CCNMatthews - Oct. 19, 2006) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

Equinox Minerals Limited (TSX:EQN)(ASX:EQN) (the "Corporation") is pleased to announce drill results for its recently completed drill program at the Ndola West prospect including an intercept of 64m @ 2.33% Copper, including 38m @ 3.5% Copper. Ndola West has generated significant previous intersections (including 9.0m of 3.8% Copper) and interpretation of the geochemical and geophysical data by the Corporation suggests that copper mineralization could extend along a strike length of up to 4.5km.

In addition to the Lumwana Copper Project at which mine construction commenced in April 2006, Equinox controls 100% (subject to a 70% 'clawback option' to Anglo American) of prospective tenements covering 19,300 km2 located predominantly in the Zambian Copperbelt and North Western provinces and referred to as the Zambezi Project. The Corporation's exploration programs for 2006 have been designed to aggressively pursue high priority Copper, Cobalt and Uranium targets on these tenements.

Located 5km west of the Zambian Copperbelt mining town of Ndola, the Ndola West prospect sits within the Kafue Dome which hosts many of the current major Copperbelt mining operations (see Diagram 1). Ndola West (as well as Ngala and Mwekere prospects), is located along the Lower Roan sequence which extends for approximately 90km along the border between Zambia and the Democratic Republic of Congo ('DRC'). This Equinox ground package extends from the leases surrounding the Bwana Mkubwa Mine (First Quantum Minerals) in the southeast, to the Mufulira Mine (Mopani Copper Mines) in the northwest. This sequence also hosts a number of recent discoveries, including the Frontier (previously Lufua) and Nina prospects of First Quantum which are located within 2km on the DRC side of the border. Equinox controls most of the ground on the Zambian side of the border.

Eight 4" Reverse Circulation ("RC") holes were drilled for a total of 715m on three lines covering a strike length of 600m along the NE limb of the Ndola West synform. Table 1 below presents the drill data and intercept information. Drilling intersected significant oxide copper mineralisation with the best intersection being from hole number KIT0003 generating 64m (depth 32m to 96m) grading 2.33% copper including 38m (depth 58m to 96m) grading 3.5% copper.

The mineralisation appears to occur as a flat oxide supergene blanket and consists of dominantly malachite with trace chalcocite hosted within weathered and altered carbonate-cemented siltstones of the Lower Roan sequence - the same sequence to host the Bwana Mkubwa and Mufulira mines along strike. The geology remains open along strike to the south-east as well as at depth. The potential of the SW limb of the fold to host ore is yet to be evaluated by the Corporation.



Table 1: Ndola West Drill Results

------------------------------------------------------------------------
Hole WG84 WGS84 RL DEPTH Collar Collar From To Width Cu% Type
No. mE mN (m) Azimuth Dip (m) (m) (m)(1) (1)
(true)
------------------------------------------------------------------------
KIT-
0001 672096 8566248 1294 96 226 -60 72 82 10 0.70 Oxide
------------------------------------------------------------------------
inc
72 76 4 1.53 Oxide
------------------------------------------------------------------------
KIT- No significant
0002 672056 8566220 1295 96 226 -60 copper
------------------------------------------------------------------------
KIT-
0003 672243 8565989 1274 96 226 -60 32 96 64 2.33 Oxide
------------------------------------------------------------------------
inc
58 96 38 3.50 Oxide
------------------------------------------------------------------------
KIT-
0004 672282 8566030 1288 92 226 -60 78 84 6 0.71 Oxide
------------------------------------------------------------------------
KIT- No significant
0005 671938 8566513 1293 87 226 -60 copper
------------------------------------------------------------------------
KIT- No significant
0006 671977 8566547 1293 56 226 -60 copper
------------------------------------------------------------------------
KIT-
0007 671894 8566476 1292 96 226 -60 53 59 6 0.63 oxide
------------------------------------------------------------------------
KIT- No significant
0008 672203 8565963 1282 96 226 -60 copper
------------------------------------------------------------------------
Note: Drill method utilised to generate the samples was narrow diameter
reverse circulation, using a face sampling hammer bit. The holes
were not surveyed. Drilling intersected water in two intervals
only, from KIT003 45-48m, and KIT001, from 91-96m. Samples were
collected into plastic bags via a cyclone on 1m intervals and
split through a 75:25 Jones riffle splitter. The resultant split
of 2kg was placed in a calico bag. Duplicates, standard reference
samples and blanks were inserted in the sample sequence at a rate
of 1 in 20. Samples were despatched directly to ALS Chemex at
Malaga, Perth Western Australia by air freight. All samples were
dried, crushed and pulverised to achieve 90% passing -75 microns.
The pulp was collected from the pulveriser bowl by a ceramic
sample scoop, and the balance of the pulp stored for re-assay,
if required. Samples were assayed by four acid digest and method
ME-ICP61 up to 10000ppm Cu; above this level samples were
re-assayed by Cu OG62, a more accurate ore grade determination.
Intercepts were calculated as an arithmetic average, and
intervals represent down hole intercepts. True thickness of the
zone will be established by additional drilling.
------------------------------------------------------------------------


The drill program was designed to test for shallow open pittable oxide mineralisation in an area previously (2000-2001) explored by the Equinox - Anglo American ("EAJV") joint venture using IP and deeper diamond drilling. The EAJV intersected disseminated oxide and sulphide Copperbelt style copper mineralisation in 2 deeper diamond holes drilled within the area of the current Equinox drilling. 7 out of 20 holes intersected copper mineralisation. A summary of the significant EAJV intercepts is shown in Table 2.



Table 2: EAJV Drill Intercepts, Ndola West

------------------------------------------------------------------------
Mineral-
Collar Col- iza-
Hole WGS84 WGS84 RL DEPTH Azimuth lar From To Width Cu% tion
No. mE mN (m) (true) Dip (m) (m) (m) (2) Type
------------------------------------------------------------------------
KIT00- sulphide
DD04 672136 8566277 1288 300 230 126 141 13.5 2.51 and
transition
------------------------------------------------------------------------
KIT00- sulphide
DD04W1(1) As above 230 -45 126.5 138 11.5 1.24 and
transition
------------------------------------------------------------------------
KIT00- 230 sulphide
DD04W2(1) As above 126.5 138 11 2.06 and
transition
------------------------------------------------------------------------
KIT00D- sulphide
D02A 671985 8566551 1294 200.4 233 -45 115.0 122.8 7.8 0.53
------------------------------------------------------------------------
KIT00- sulphide
DD02AW1(1) As above 233 -45 115.5 119.8 4.3 0.62
------------------------------------------------------------------------
KIT00- sulphide
DD02AW2(1) As above 233 -45 115.0 119.8 4.8 0.57
------------------------------------------------------------------------
Notes

1 Diamond core hole wedges
2 Anglo noted that core recoveries were variable but sometimes poor
within the mineralized intervals
3 Assays were complete by Anglo American Johannesburg laboratory
4 Whilst core is available for some of these holes, collar positions
are only imprecisely known.
------------------------------------------------------------------------


To view Figure 1: Ndola West (within the Zambezi Project) please click on the following link: http://www.ccnmatthews.com/docs/eqnmap.pdf

The Corporation anticipates undertaking additional drilling at the property during the fourth quarter of 2006. Elsewhere, drilling continues at the Kanga IP Target, along strike from the Malundwe deposit at the Lumwana Copper Project in the North Western province, Zambia.

Commenting on the new drill results, Craig Williams, Equinox President and CEO said "the Zambian Copperbelt remains one of the world's great copper provinces. With limited copper exploration since the 1970's, our tenements there host outstanding exploration opportunities. The Ndola West discovery demonstrates the Equinox business model in building a mid-tier copper company with Lumwana whilst offering new mine potential by way of aggressive exploration"

As required by the National Instrument 43-101, Equinox's designated qualified person required for the supervision of exploration of the projects are Mike Richards and John Cooke, employees of the Corporation.

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. Technical information in this release is summarized or extracted from the ''Amended Technical Report on the Lumwana Copper Project, North West Province, Republic of Zambia'' dated August 2006 (the ''Technical Report''), prepared by Matt Langridge, General Manager, Projects and Construction, Ausenco Ltd. (''Ausenco''), Ross Bertinshaw, Principal of Golder Associates Pty Ltd. (''Golder''), Tim Miller, Director, of Investor Resources Finance Pty Ltd (''IRF''), and Robert Hanbury, Associate Director, of Knight Piesold Pty Ltd. (''Knight Piesold''), each of whom is a ''Quali?ed Person'' in accordance with National Instrument 43-101 -Standards of Disclosure for Mineral Projects.

The economic analysis of Lumwana in the Amended Technical Report is based on a model which includes Inferred Resources that are considered not to be defined in sufficient detail to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that the economic performance proposed in the economic analysis following depletion of the Mineral Reserves will be achieved. Exemptive relief has been granted by the applicable Canadian securities regulators for this analysis. See the Amended Technical Report for further details.

Readers are cautioned not to rely solely on the summary of such information contained in this release, but should read the Amended Technical Report which is posted on Equinox's website (www.equinoxminerals.com) and filed on SEDAR (www.sedar.com) and any future amendments to such report. Readers are also directed to the cautionary notices and disclaimers contained herein. All currency in this release is U.S. dollars unless otherwise stated.

ARBN 108 066 986

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