Equinox Minerals Limited is pleased to announce that, in connection with the takeover offer for Citadel Resource Group as of January 4, 2011, Equinox has issued to former Citadel shareholders an aggregate of 131,843,656 Equinox common shares, and paid an aggregate of approximately A$197.9 million. As at January 4, 2011 Equinox holds an interest in Citadel of 89.82%.