Equinox comments on Minmetals Resources announcement

TORONTO, April 7 /CNW/ --
TORONTO, April 7 /CNW/ - Equinox Minerals Limited (TSX and ASX symbol: 'EQN') ('Equinox' or the 'Company') today
commented on the announcement on April 3, 2011 by Minmetals Resources
Limited ('MMR'), of their intention to make an all cash offer of C$7.00
per share for Equinox.

Craig Williams, President and Chief Executive Officer of Equinox, stated
that: 'MMR's announcement and its timing is clearly opportunistic and
seeks to frustrate Equinox's offer for Lundin Mining Corporation which
we believe can add significant value for shareholders. MMR's
announcement of its intention to offer C$7.00 per share represents a
nominal premium of approximately 9% to Equinox's 20-trading day volume
weighted average share price on the TSX prior to its announcement of
the Lundin offer. Such a low premium is a fraction of premiums paid in
recent acquisitions of base metal mining companies.'

'Equinox has excellent assets and the Board has every confidence in the
ability of our people to deliver superior value for our shareholders.
We consider that the lowball price announced by MMR significantly
understates our value and disregards the potential of this Company,
especially in light of the continuing strength in copper prices', added
Peter Tomsett, Chairman.

Although MMR's intention has been announced publicly, no formal offer
has been made nor offer documents received and according to public
comments by MMR, none are expected for several weeks. Furthermore, MMR
has indicated that any proposed offer will require approval by MMR
shareholders. MMR has also indicated that its major shareholder, China
Minmetals Corporation will support a transaction, but that China
Minmetals Corporation's ability to vote in favour will require National
Development and Reform Commission approval, which has not yet been
received. The MMR shareholders' meeting is not expected to occur until
sometime in June.

Equinox can only respond to a formal offer that may be made by MMR upon
receipt of such offer.

As previously announced, the Equinox shareholders' meeting called to
approve the share issuance in connection with the offer for Lundin
Mining Corporation ('Lundin'), originally scheduled to be held on
Monday, April 11, 2011, has been rescheduled for Tuesday, April 26,
2011.  Equinox has also extended the expiry time for its offer to
acquire all of the issued and outstanding common shares of Lundin to
6:00 p.m. (Toronto time) on April 29, 2011.

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

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|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 |
|14, 2011 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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