Equinox Minerals Limited (TSX and ASX symbol: "EQN") ("Equinox"...

Equinox Minerals Limited (TSX and ASX symbol: "EQN") ("Equinox" or the "Company") notes the recent filing on December 16, 2008 of insider trading reports by First Quantum Minerals Ltd. ("FQM") indicating an increase through 13 trades over a substantial period of time from January 24, 2008 to July 28, 2008.

The SEDI reports show an increase in shareholding in Equinox from the 97,556,700 common shares disclosed in FQM's early warning report filed on December 6, 2007 which at that time represented 17.27% of the then outstanding Equinox common shares on an undiluted basis. This position was subsequently diluted to 16.45% of Equinox's issued and outstanding common shares following the conversion of Equinox's outstanding warrants prior to their expiry on May 6, 2008.

Following these latest reported acquisitions; FQM holds 114,132,300 common shares representing 19.25% of the currently outstanding Equinox common shares on an undiluted basis.

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On Behalf of the Board of Directors of Equinox:

Craig R. Williams - President & Chief Executive Officer