closes second tranche

Equinox Closes Second Tranche of US$30 million
Private Placement to ZCCM Investments Holdings
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
Equinox Minerals Limited (TSX and ASX: EQN) ("Equinox" or the "Company") is pleased to announce that it
has successfully closed the second and concluding tranche of its non-brokered US$30 million private
placement of Equinox common shares (“Shares”) to ZCCM Investments Holdings Plc (LSE: ZCC) ("ZCCMIH"),
the mining investment arm of the Government of the Republic of Zambia ("GRZ"), as announced on March
22, 2006.
Equinox raised gross proceeds of C$16,738,500 (US$15,000,000) from this final placement of 10,833,980
Shares issued to ZCCM on June 30, 2006, (the “Second Subscription Date”).
The subscription price was C$1.545 per Share which equals 1.15 times the volume-weighted average trading
price ("VWAP") of Shares on the Toronto Stock Exchange ("TSX") calculated over the five business day period
immediately preceding the Second Subscription Date.
Commenting on the completion of the US$30 million private placement, Craig R. Williams - President & Chief
Executive Officer said, “ZCCM-IH holds many project level investments in Zambia. We are greatly honored that
for the very first time, ZCCM-IH is making a unique investment into a mining project at the public company level,
shoulder to shoulder with all other equity investors and stakeholders. This investment highlights the fact that
Lumwana is a true public/private sector partnership with the GRZ and validates their support for this important
development and their recognition of our commitment to support the development of the nation.”
The net proceeds of the offering will be used to fund, in part, the development of Equinox's Lumwana copper
project in Zambia, for its expanded Zambian exploration program and for general working capital.
The securities referred to in this announcement have not been registered under the U.S. Securities Act of 1933,
as amended, and may not be offered or sold in the United States unless registered under the Act or unless an
exemption from registration is available.
On Behalf of the Board of Directors of Equinox.
Craig R. Williams - President & Chief Executive Officer
For further information please contact:
Craig R. Williams (President and Chief Executive Officer), Michael Klessens (V.P. Finance and CFO)
Phone: +61 (0) 8 9322 3318 Email: [email protected]
or
Kevin van Niekerk (V.P. Investor Relations/Corporate Development)
Phone: +1 (416) 865 3393 Email: [email protected]
For information on Equinox and technical details on the Lumwana Project please refer to the company website at
www.equinoxminerals.com
Cautionary Language and Forward Looking Statements
This press release contains “forward-looking statements”, which are subject to various risks and uncertainties that could cause actual results and future
events to differ materially from those expressed or implied by such statements. Investors are cautioned that such statements are not guarantees of future
performance and results. Risks and uncertainties about the Company's business are more fully discussed in the Company’s disclosure documents filed from
time to time with the Canadian and Australian securities authorities. The independent definitive feasibility study prepared by GRD Minproc Ltd, Golder
Associates Pty Ltd, Investor Resources Ltd. and Knight Piesold Pty Ltd has been disclosed in the Amended Technical Report dated October 2005, and is
compliant with the JORC Code and National Instrument 43-101. Unless otherwise indicated, technical information contained in this release which updates
such information contained within the Amended Technical Report is based on information compiled by Ross Bertinshaw and John Battista (Golder) each of
whom is a “Qualified Person” who is either a corporate member of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists or
the CIM.
The economic analysis of Lumwana in the Amended Technical Report is based on a model which includes Inferred Resources that are considered not to be
defined in sufficient detail to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no
certainty that the economic performance proposed in the economic analysis following depletion of the Mineral Reserves will be achieved. Exemptive relief
has been granted by the applicable Canadian securities regulators for this analysis. See the Amended Technical Report for further details. A further
Amended Technical Report will be released within 45 days of this press release.
Readers are cautioned not to rely solely on the summary of such information contained in this release, but should read the Amended Technical Report which
is posted on Equinox’s website (www.equinoxminerals.com) and filed on SEDAR (www.sedar.com) and any future amendments to such report. Readers are
also directed to the cautionary notices and disclaimers contained herein. All currency in this release is U.S. dollars unless otherwise stated.