The Purchase and Sale Agreement provided that PD Zambia would retain the right to a 1% Lumwana net smelter royalty which could be terminated by the Company at its option under certain conditions. Exercising its option with a payment of US$12.8 million to PD Zambia, LMC has met the required conditions and extinguished the 1% Lumwana net smelter royalty thereby terminating all remaining obligations and/or associations between Equinox and the former holders.

Commenting, Craig Williams, Equinox President and CEO said: "Given the development and operating phase that Lumwana mine is now at, and looking at the inherent value of these wholly owned mining assets judged today compared to their value in 2004, we believe this is a very good deal for Equinox and its stakeholders".

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    Craig R. Williams - President & Chief Executive Officer
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    For information on Equinox and technical details on the Lumwana Project
       please refer to the company website at www.equinoxminerals.com
    >>

SOURCE: Equinox Minerals Limited

Craig R. Williams (President and Chief Executive Officer), Michael Klessens (V.P.
Finance and CFO), Phone: +61 (0) 8 9322 3318, Email: equinox@equinoxminerals.com Or
Kevin van Niekerk (V.P. Investor Relations), Phone: (416) 865-3393, Email:
kevin.van.niekerk@equinoxminerals.com