G'day all,The pace is quickening as EQN puts another cog into...

G'day all,

The pace is quickening as EQN puts another cog into place in the development of its Lumwana project in Zambia. Todays ann. re the EPCM contract is attached and it should be all systems go as soon as the financing is completed.


February 22, 2005 Equinox Awards GRD Minproc the Definitive Engineering Contract for the Lumwana Project Equinox Minerals Limited (TSX and ASX code: “EQN”) (“Equinox”) is pleased to announce that, and in accordance with its development plans for the Lumwana Project (“Lumwana”) in Zambia, it has awarded the Front End Engineering and Development (“FEED”) contract and preferred construction contractor status to GRD Minproc Limited (“GRD Minproc”), a subsidiary of GRD Limited. The award to GRD Minproc was based on a range of criteria including industry expertise in copper concentrators and large scale milling projects. GRD Minproc has a highly skilled team with recent practical project implementation experience gained working on similar large scale throughput projects including the Kansanshi Project in Zambia and the Telfer Project in Australia. The Lumwana development is to be completed in two stages with Stage 1, the FEED contract, commencing in March 2005 and Stage 2, the construction phase, due to commence following completion of project financing. The FEED contract includes the copper concentrate processing plant as well as all site infrastructure including of accommodation, tailings dam and water management systems. Following completion of the FEED phase, the contract has been structured so that Equinox retains the option to continue with an Engineering Procurement and Construction Management (“EPCM”) contract or convert to a fixed-price construction contract for Lumwana development on the basis of the FEED definition. Equinox’s President and CEO, Craig Williams commented that, “Equinox is pleased to be working with GRD Minproc on this world class project, which is expected to be the largest single Copper mine in Africa. GRD Minproc’s recent successful implementation of projects in Zambia and its large milling experience gained in Australia is a critical combination for the successful development of Lumwana.”