Equinox declares Offer for Lundin open to residents of Sweden

TORONTO, March 15 /CNW/ --
TORONTO, March 15 /CNW/ - Equinox Minerals Limited (TSX and ASX symbol: 'EQN') ('Equinox' or the 'Company') today announced that its take-over bid
(the 'Offer') to acquire all of the issued and outstanding shares of
Lundin Mining Corporation ('Lundin') is now open to residents of
Sweden. The Offer had previously been closed to residents of Sweden
(other than 'qualified investors' within the meaning of the Swedish
Financial Instruments Trading Act). An information supplement will be
mailed to the holders of Lundin common shares which are represented by
Swedish Depository Receipts ('SDRs') describing the procedures
available to holders of those securities to accept the Offer.

Equinox has also updated the unaudited pro forma consolidated financial
statements which assume and give effect to the successful completion of
the Offer as if the transaction had occurred as at December 31, 2010
for the purposes of the unaudited pro forma consolidated balance sheet
information and as at January 1, 2010 for the purposes of the unaudited
pro forma consolidated statement of operations for the twelve months
ended December 31, 2010.  The updated pro forma financial statements
are set forth in a Notice of Change in Information which amends and
supplements the offer to purchase and take-over bid circular dated
March 7, 2011 (the 'Offer to Purchase'). The Offer to Purchase and the
Notice of Change have been mailed to the registered shareholders of
Lundin today. 

Commenting on the offer, Equinox President and CEO Craig Williams said,
'We are pleased to announce the Offer by Equinox for Lundin, which is
clearly superior to the alternative nil premium offer proposed by
Inmet, is now open to residents of Sweden.'     

Equinox is proposing to acquire Lundin to combine the copper assets of
Lundin and Equinox, including notably Lumwana and Tenke Fungurume in
Central Africa and Neves Corvo and Jabal Sayid in Europe/Middle East,
creating a company with a position of relative strength built around
four expandable copper operations. Equinox believes that its Offer
provides the flexibility for all Lundin shareholders to choose between
cash or ongoing exposure to what it believes will be one of the world's
most attractive copper growth profiles.

Full details of the Offer are included in the Offer to Purchase and the
Notice of Change in Information, which are available on SEDAR at www.sedar.com and on Equinox's website at www.equinoxminerals.com. 

About Equinox


Equinox Minerals Limited is an international mining company dual-listed
on the Canadian (Toronto) and Australian stock exchanges.

The Company is currently focused on operating its 100% owned large scale
Lumwana Copper Mine in Zambia and construction of the Jabal Sayid
Copper-Gold project in the Kingdom of Saudi Arabia.

Equinox acquired the Lumwana project in 1999 and following nearly 10
years of feasibility, financing and construction, commissioned the
mine, plant and infrastructure in December 2008. Situated 220
kilometres northwest of the Zambian Copperbelt, Lumwana is now a major
copper mine which has established Equinox as one of the world's top 20
copper producing companies.

Equinox recently acquired the Jabal Sayid project as the project entered
the construction phase with first production scheduled for 2012. Jabal
Sayid is located within the Arabian Shield minerals province, 350
kilometres north-east of the Red Sea port city of Jeddah, the
commercial capital of Saudi Arabia, and 120 kilometres south-east of
Medina.

For information on Equinox and technical details on the Lumwana and
Jabal Sayid projects please refer to the company website at www.equinoxminerals.com

 

Cautionary Notes

Forward-Looking Statements

Certain information contained or incorporated by reference in this
press release include forward-looking statements, which may include,
but is not limited to, statements with respect to the future financial
or operating performances of Equinox, its subsidiaries and their
respective projects, the timing and amount of estimated future
production, estimated costs of future production, capital, operating
and exploration expenditures, costs and timing of the expansion of the
Lumwana copper mine in Zambia and development of the Jabal Sayid
copper-gold project in the Kingdom of Saudi Arabia, the future price
copper and uranium, the estimation of mineral reserves and mineral
resources, the realization of mineral reserve estimates, the costs of
Equinox's hedging policy, costs and timing of future exploration,
requirements for additional capital, government regulation of
exploration, development and mining operations, environmental risks,
reclamation and rehabilitation expenses, title disputes or claims, and
limitations of insurance coverage. All statements, other than
statements of historical fact, are forward-looking statements.
Forward-looking statements can often, but not always, be identified by
the use of words such as 'plans', 'expects', 'budget', 'scheduled',
'estimates', 'forecasts', 'intends', 'anticipates', 'predicts',
'potential', 'continue' or 'believes', or variations (including
negative variations) of such words; or statements that certain actions,
events or results 'may', 'could', 'would', 'should', 'might',
'potential to', or 'will' be taken, occur or be achieved or other
similar expressions concerning matters that are not historical facts.
The purpose of forward-looking statements is to provide the reader with
information about management's expectations and plans.  Readers are
cautioned that forward-looking statements are not guarantees of future
performance.

Forward-looking statements are necessarily based on a number of
factors, estimates and assumptions that, while considered reasonable by
Equinox as of the date of such statements, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies. Such factors, estimates and assumptions of the Company
contained in this news release include, but are not limited to,
anticipated financial or operating performances of Equinox, its
subsidiaries and their respective projects; future prices of copper and
uranium; the estimation of mineral reserves and resources; the
realization of mineral reserve estimates; the timing and amount of
estimated future production; estimated costs of future production; the
grade, quality and content of the concentrate produced; the sale of
production and the performance of offtakers; capital, operating and
exploration expenditures; costs and timing of development and expansion
of Lumwana and Jabal Sayid; the costs of Equinox's hedging policy; the
costs and timing of future exploration; requirements for additional
capital; government regulation of exploration, development and mining
operations; environmental risks; reclamation and rehabilitation
expenses; title disputes or claims; that Equinox will acquire 100%
interest in Lundin through the Offer; management's assessment of the
successful integration of the combined companies upon completion of the
Offer; management's expectations of growth and production upon
completion of the Offer; the viability of Lundin's assets and projects
on a basis consistent with the management's current expectations; there
being no significant risks relating to the Company's or Lundin's mining
operations, including political risks and instability and risks related
to international operations; and limitations of insurance coverage.
While the Company considers these assumptions to be reasonable based on
information currently available to it, they may prove to be incorrect.

Readers are cautioned that forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of Equinox and/or its
subsidiaries to differ materially from those expressed or implied in
the forward-looking statements, including the risk that the Offer will
not be completed for any reason. Certain of these risks and
uncertainties are described in more detail in the section entitled
'Risks Factors' in the Company's Annual Information Form dated March
15, 2010 and in the Company's most recently filed Management's
Discussion and Analysis, to which readers are referred and which are
incorporated by reference in this news release. The Company's Annual
Information Form and its most recently filed Management's Discussion
and Analysis are available on SEDAR at
www.sedar.com and on the Company's
website at
www.equinoxminerals.com.

Although Equinox has attempted to identify statements containing
important factors that could cause actual actions, events or results to
differ materially from those described in forward-looking information,
there may be other factors that cause actions, events or results to
differ from those anticipated, estimated or intended. Forward-looking
information contained herein are made as of the date of this document
based on the opinions and estimates of management on the date
statements containing such forward looking information are made, and
Equinox disclaims any obligation to update any forward-looking
information, whether as a result of new information, estimates or
opinions, future events or results or otherwise, except as required by
law. There can be no assurance that forward-looking information will
prove to be accurate, as actual results and future events could differ
materially from those anticipated in such information. Accordingly,
readers should not place undue reliance on forward looking information.

The information in this announcement concerning Lundin and Lundin's
assets and projects is based on publicly available information and has
not been independently verified by Equinox.

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