Equinox Minerals Limited
TSX : EQN
ASX : EQN

Equinox Minerals Limited

November 14, 2007 12:00 ET

Equinox Minerals Limited: Uranium Feasibility Infill Drilling Confirms High Grade Uranium Mineralization at Lumwana

TORONTO, ONTARIO--(Marketwire - Nov. 14, 2007) -

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) ("Equinox" or the "Company") is pleased to report that the Company's Uranium Feasibility Study ("UFS") infill drilling program at its Lumwana Project in the Northwestern Province of Zambia has further defined and confirmed discrete zones of high grade uranium mineralization within the larger Malundwe copper ore body currently being mined as part of the Lumwana Copper Project development. Intercepts of note include 17 meters of 0.56% U3O8 (hole MLW0062), 11 meters of 0.75% U3O8 (hole MLW0159), 6 meters of 1.41% U3O8 (hole MLW0192) and 2 metres of 2.56%U3O8 (hole MLW0115).

The Malundwe deposit hosts significant uranium mineralization along the central portion of the copper ore body's western flank, primarily within two discrete uranium mineralized bodies. The purpose of the UFS drilling program is to upgrade the previously defined Malundwe "Indicated and Inferred" uranium resources (see press release dated May 02, 2005 available on the Company's website) to an "Indicated and Measured" status. Equinox has completed an intensive infill drill program comprising a total of 158 reverse circulation (RC) percussion drill holes and 12 PQ diamond holes spread along the 2km strike length of mineralization (Figure 1). With the inclusion of the pre-existing drill holes, most of the uranium resource within Malundwe is now defined by 50m x 50m spacing, with the exception of some areas of higher grade uranium mineralization which have been drilled on a 25m x 25m spacing. Of the 170 holes drilled, 135 intersected uranium mineralisation of greater than 200ppm U3O8.

Logging has been undertaken by geology, scintillometer and gamma probe to ensure all uranium intercepts were identified. Uranium occurs almost exclusively as uraninite, varying from coarse aggregates of up to 3cm long to finer grained disseminations. Quantification of the uranium content has been achieved by chemical assay of 14,183, one meter samples, with sample collection commencing four meters above the first detected uranium (by scintillometer) in any given hole, to the end of the hole. Table 1 below presents significant intercepts (greater than 3,000ppm U3O8) encountered in the second phase of the resource program (the first phase was reported in the press release dated July 24, 2007 available on the Company's website). A complete table of all uranium intercepts to date within the Malundwe ore body that exceed 200ppm U3O8 can be found on the Company's web site filed with this press release.

The uranium mineralization preferentially lies associated with the hangingwall and footwall contacts of the Malundwe copper sulphide ore body, and significantly, also extends into the footwall suite of rocks that are barren of copper. The remainder of the Malundwe copper sulphide orebody does not contain any significant uranium mineralization and typically has a low uranium background of less than 10ppm U3O8.



Table 1: Significant Uranium Drill Intercepts at Malundwe
(intercepts greater than 3,000ppm U3O8)
---------------------------------------------------------------------------
HOLE EAST NORTH RL FROM TO Width U3O8 U3O8 Au Cu Depth
(m) (m) (m) (%)(kg/t)(g/t) (%) below
Surface
---------------------------------------------------------------------------
MLW0009 370966 8646650 1274.9 93 95 2 0.75 7.55 0.73 2.87 93
---------------------------------------------------------------------------
MLW0011 370913 8646650 1273.4 85 88 3 0.54 5.39 0.48 1.36 85
---------------------------------------------------------------------------
MLW0016 370989 8646753 1280.8 77 86 9 0.34 3.44 0.34 1.4 77
---------------------------------------------------------------------------
MLW0020 370893 8646751 1277.4 66 67 1 1.29 12.85 0.25 0.45 66
---------------------------------------------------------------------------
And 72 80 8 0.78 7.78 0.38 1.05 72
---------------------------------------------------------------------------
MLW0040 371111 8646950 1295.0 75 76 1 1.41 14.09 0.12 1.99 75
---------------------------------------------------------------------------
MLW0062 370843 8647050 1288.7 10 27 17 0.56 5.57 0.58 1.31 10
---------------------------------------------------------------------------
MLW0063 370809 8647050 1290.7 11 13 2 0.38 3.82 0.47 0.71 11
---------------------------------------------------------------------------
MLW0068 370805 8647101 1294.0 16 18 2 0.32 3.19 0.49 2.38 16
---------------------------------------------------------------------------
And 23 24 1 0.71 7.05 0.21 0.68 23
---------------------------------------------------------------------------
MLW0075 370842 8647149 1295.6 21 22 1 1.44 14.44 0.23 1.62 21
---------------------------------------------------------------------------
MLW0080 370801 8647201 1300.9 42 44 2 0.72 7.20 0.16 0.72 42
---------------------------------------------------------------------------
MLW0084 370813 8647249 1302.9 50 56 6 0.36 3.61 0.37 0.91 50
---------------------------------------------------------------------------
MLW0088 370795 8647300 1307.5 66 75 9 0.51 5.06 0.35 0.34 66
---------------------------------------------------------------------------
MLW0094 371062 8647398 1320.6 75 76 1 0.47 4.69 0.15 1.42 75
---------------------------------------------------------------------------
MLW0111 370949 8647551 1323.5 92 94 2 0.40 4.00 n/a 0.03 92
---------------------------------------------------------------------------
MLW0115 370952 8647602 1326.9 81 83 2 2.56 25.61 0.08 1.01 81
---------------------------------------------------------------------------
MLW0119 371011 8647651 1331.6 79 82 3 2.11 21.12 n/a 0.02 79
---------------------------------------------------------------------------
MLW0159 370957 8648221 1335.4 67 78 11 0.75 7.54 0.17 1.18 67
---------------------------------------------------------------------------
MLW0191 370930 8648257 1334.5 72 77 5 1.20 11.97 0.22 1.82 72
---------------------------------------------------------------------------
MLW0192 370861 8647001 1287.1 24 30 6 1.41 14.07 1.75 2 24
---------------------------------------------------------------------------
MLW0194 370943 8648194 1335.0 63 65 2 0.88 8.78 0.26 0.64 63
---------------------------------------------------------------------------
MLW0200 370890 8646703 1275.6 81 82 1 0.40 3.99 0.41 2.22 81
---------------------------------------------------------------------------
MLW0201 370851 8646752 1276.1 61 63 2 1.66 16.62 0.69 1.3 61
---------------------------------------------------------------------------
MLW0204 370871 8646856 1281.0 47 49 2 0.40 4.04 0.29 0.75 47
---------------------------------------------------------------------------
MLW0210 370866 8647298 1303.8 50 51 1 0.45 4.49 0.38 1.8 50
---------------------------------------------------------------------------
NOTE: All holes were drilled -80 degrees/090 degrees except MLW0159 and
MLW0201 which were drilled -80 degrees/270 degrees;
Intercept thickness approximates true thickness (except for MLW0159
and MLW0201);
Cut off grade of 200ppm U3O8 applied, but only intercepts greater
than 3,000ppm U3O8 shown on this table; and
Refer to the Company website for a full table of results applying a
200ppm U3O8 cut-off.


SRK Consulting is currently undertaking the uranium resource estimate of Malundwe and Golder Associates Pty Ltd. will apply economic and mining factors to identify the mining reserve for the UFS, which is expected to be completed by the end of Q1-2008.

Commenting on the UFS drill results, Craig Williams, Equinox President and CEO said "the UFS infill drill program has provided the confidence required to fully evaluate and define the discrete, high grade uranium zones associated with the Malundwe copper orebody. We are encouraged that the ongoing UFS will support a viable development plan to extract a uranium by-product as part of Lumwana copper mine that is now at an advanced stage of construction".

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.

Competent Person and Sampling Protocols

As required by the National Instrument 43-101, Equinox's designated qualified persons required for the supervision of exploration projects are John Cooke and Mike Richards, both of whom are employees of the Corporation. Drill methods utilised to generate the samples were 41/2" diameter RC percussion and PQ diamond drill core. Collar positions were located using a differential GPS. Both RC and diamond holes were surveyed downhole. RC samples were collected into plastic bags via a cyclone on 1m intervals and split through a 75:25 Jones riffle splitter. The resultant sample 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 prepared at AH Knight's facility in Kitwe, where all samples were dried, crushed and pulverised to achieve 90% passing -75microns. The pulp was collected from the pulveriser bowl by a ceramic sample scoop, and the balance of the pulp returned to Lumwana for storage for re-assay, if required. Pulps were despatched directly to ALS Chemex at Malaga, Perth Western Australia by air freight. Samples were assayed by four acid digest and method ME-ICP61 up to 1,000ppmU and 10,000ppmCu; above this level samples were re-assayed by fused disc XRF12 for U and OG62 for Cu, both methods being more accurate ore grade determinations. Intercepts were calculated as an arithmetic average, and intervals represent down hole intercepts, although at Malundwe this approximates true thickness. Lower cut off grade for U presented in the table within this document was 3,000ppmU, with up to 4m permissible as internal waste. Only U intercepts have been considered in this document.

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 October 2006 (the "Technical Report"), prepared by Michael Davis, Process Manager, 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 "Qualified Person" in accordance with National Instrument 43-101 -Standards of Disclosure for Mineral Projects.

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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