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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 http://www.equinoxminerals.com/">www.equinoxminerals.com