Equinox files Notice of Extension and Change and provides additional and clarifying disclosure

TORONTO, April 8 /CNW/ --
TORONTO, April 8 /CNW/ - Equinox Minerals Limited (TSX and ASX symbol: 'EQN') ('Equinox' or the 'Company') today filed a
Notice of Extension and Change in Information (the 'Notice of
Extension') in connection with its take-over bid (the 'Offer') to
acquire all of the issued and outstanding shares of Lundin Mining
Corporation ('Lundin'). Equinox today also filed a supplement (the
'Meeting Circular Supplement') to Equinox's management information
circular dated March 14, 2011 sent to shareholders of Equinox in
connection with the special meeting in respect of the Offer (the
'Meeting').  The Notice of Extension and Meeting Circular Supplement
confirm the previously announced postponement of the Meeting to
Tuesday, April 26, 2011 at 10 a.m., and the extension of the Offer to 6
p.m. (Toronto time) on Friday, April 29, 2011.

Supplemental financial information and revised pro forma financial
statements

The Notice of Extension and Meeting Circular Supplement contain in
particular additional information in connection with the Offer and
Equinox's liquidity position and debt service capacity following
completion of the Offer, providing further detail regarding Equinox's
belief that the available capital resources and cash flow of a combined
Lundin/Equinox entity will be capable of comfortably servicing the
anticipated debt service charges associated with the Offer.

The Notice of Extension and Meeting Circular Supplement also includes
revised unaudited pro forma consolidated financial statements that,
among other changes, provides more detail regarding the interest
charges that would have been payable in connection with Equinox's
Bridge Facility had the transaction closed on January 1, 2010 and
remained outstanding for the twelve months that followed.  Equinox is
expecting to refinance the Bridge Facility using a combination of
medium and long term debt instruments, which are likely to include a
term loan and revolving facility from commercial banks, convertible
bonds and high yield bonds. Assuming favourable market conditions, it
is likely that it will seek to do as soon as practicable following a
drawdown under the Bridge Facility and a take up of Common Shares under
the Offer.  It is not possible to forecast the actual specific
commercial terms of the various debt instruments likely to be included
in a refinancing of the Bridge Facility, though based on current market
conditions, Equinox expects the various instruments involved in the
anticipated refinancing to result in an aggregate longer-term annual
interest cost that is lower than that provided under the Bridge
Facility and indicated in the accompanying pro forma financial
statements.

Retraction of Life of Mine Disclosure

Equinox wishes to clarify and retract certain publicly disclosed
technical information previously disseminated. On February 2, 2011,
Equinox issued a press release providing an update on the expansion
strategy for the Lumwana copper mine in Zambia, which included a
conceptual estimate of copper ore for the Chimiwungo deposit based on
recent drilling results at Chimiwungo. The press release included a
statement regarding an estimated mine life of the Lumwana project being
in the range of 27 to 37 years at a 45 million tonne per annum
processing rate using the conceptual estimate assumption.  While
National Instrument 43-101 - Standards of Disclosure for Mineral
Projects permits the disclosure of a conceptual estimate of this
nature, it does not allow it to be used for purposes of an economic
analysis such as life of mine estimates. Similar disclosure was
included in the take-over bid circular dated March 7, 2011 prepared in
connection with Equinox's offer for Lundin, the annual information form
for the year ended December 31, 2010 and in an investor presentation
regarding the offer for Lundin posted to the Equinox website. Equinox
wishes to withdraw the life of mine statement and advises readers not
to rely on it. The described documents are in the process of being
amended accordingly.

Full details of the Offer are included in the Offer to Purchase and
Circular and the Notice of Extension 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 |
|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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