Equinox Cancels Shareholder Meeting and Withdraws Lundin Offer

TORONTO, April 25 /CNW/ --
TORONTO, April 25 /CNW/ - Equinox Minerals Limited (TSX and ASX symbol: 'EQN') ('Equinox' or the 'Company') announced
today that the Company has withdrawn its offer (the 'Lundin Offer') to
acquire the common shares of Lundin Mining Corporation ('Lundin'). The
Company has also cancelled the meeting of its shareholders to consider
the Lundin Offer previously scheduled to occur on May 6, 2011.

Based on discussions with its shareholders and the proxy vote returns
received to date since the announcement by Minmetals Resources Limited
on April 3, 2011 of its intention to make a cash offer at C$7.00 for
each of the Equinox common shares and the announcement of the Barrick
offer is expected to further accelerate shareholder voting patterns in
that regard, Equinox believes that the Lundin Offer had no meaningful
prospect of receiving Equinox shareholder approval as required by the
terms of the Lundin Offer, and that accordingly one of the key
conditions to the Lundin Offer was effectively incapable of being
satisfied.

As previously announced, Barrick has agreed, subject to the terms of the
Support Agreement, to make an offer to purchase all outstanding common
shares of Equinox by way of negotiated take-over bid at a price of
C$8.15 per share in cash (the 'Barrick Offer').  The board of directors
have agreed, pursuant to the terms of the Support Agreement, to
recommend that the shareholders of Equinox tender their common shares
to the Barrick Offer.

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 its interest in the Jabal Sayid project (70%
owned; Equinox is in the process of acquiring the remaining 30%) 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; there being no    |
|significant risks relating to the Company'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.                                         |
|_____________________________________________________________________|

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