Equinox Minerals Limited

Equinox Minerals Limited

October 17, 2005 10:25 ET

Equinox Minerals Limited: Environmental Impact Assessment Approved for Lumwana Copper Project, Zambia

TORONTO, ONTARIO--(CCNMatthews - Oct. 17, 2005) -


Equinox Minerals Limited (TSX:EQN)(ASX:EQN) is pleased to announce that the Environmental Impact Assessment ("EIA") for the development of its 100% owned Lumwana Copper Project located in the North Western Province ("Lumwana"), has been approved by the Environmental Council of the Republic of Zambia ("ECZ").

This is the final major approval required from the Government of Zambia for Lumwana Mine development and follows a period of public consultation and disclosure of the EIA in accordance with Zambian Regulations and World Bank Guidelines.

Lumwana Project development can now proceed in accordance with Equinox's financing and construction schedule, consistent with submitted Environmental and Social Management Plans.

Commenting on the EIA Approval, Craig R. Williams, President and Chief Executive Officer of Equinox said, "We are delighted to have been granted approval of our EIA for the development of Lumwana and this timing is, subject to completion of financing, in line with the proposed commencement of our construction activities at Lumwana. Importantly, I was pleased to see that throughout the entire public consultation process, Equinox received enormous support from local communities and the Zambian Government. This is a testament to the relationship the Company has developed with key community leaders which we hold in high regard and whose support we appreciate".

On Behalf of the Board of Directors of Equinox:

Craig R. Williams - President & Chief Executive Officer

Equinox is a Canadian-Australian listed resource company engaged principally in the exploration and development of mineral properties in Zambia, and exploration in Australia and Peru. Equinox has completed a Bankable Feasibility Study at its 100% owned Lumwana Project in Zambia which is scheduled to produce an average of 125,000 tpa (275 million lbs/year) of copper over an 18 year mine life, with over 140,000 tpa (310 million lbs/year) of copper being produced in the initial 5 year period. 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.

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.

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