it's on. minmetals bids for equinox, page-4

08:15 04Apr11 PRN-Minmetals Resources Limited ("MMR") Announces Intention to Make an All Cash Takeover Offer for Equinox Minerals Limited ("Equinox")
http://pdf.reuters.com/pdfnews/pdfnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20110403:nPnCL76319

Equinox Shareholders Urged to Reject Lundin Acquisition
HONG KONG, April 3, 2011 /PRNewswire-Asia/ -- Minmetals Resources Limited (HKSE: 1208) announced today that it
intends to make an all cash offer to acquire Equinox Minerals Limited for approximately C$6.3 billion (the
"Offer").

Under the terms of the proposed Offer, MMR will acquire all of the outstanding common shares in Equinox (the
"Equinox Shares") not already owned by it for C$7.00 in cash per Equinox share. The C$7.00 per share offer
represents a substantial premium of:

* 33% to the 20 trading day VWAP of Equinox Shares on the TSX to April 1, 2011; and
* 23% to the closing price of Equinox Shares on the TSX of C$5.71 on April 1, 2011, the last day prior to
announcement.

MMR's Chief Executive Officer, Andrew Michelmore, said: "Our Offer for Equinox aligns with MMR's strategy for
growth, enhancing our global production portfolio. For Equinox Shareholders, the offer is compelling in that it
not only provides a substantial premium and certainty of value, but it also provides a superior alternative to
the proposed acquisition by Equinox of Lundin.

"In order to take advantage of MMR's forthcoming offer, Equinox shareholders should reject the Lundin acquisition
at the shareholders' meeting on April 11 and tender their shares into MMR's offer."

For MMR shareholders, the acquisition significantly expands and extends MMR's production profile of its
operations to beyond 2030, and more than doubles MMR's exposure to the attractive fundamentals of the copper
market.

The acquisition of Equinox marks MMR's first investment into the African copper belt and the Middle East.
Investment into both regions is consistent with MMR's long term strategic growth plans.

Equinox's Lumwana mine in Zambia is a substantial copper producing asset, with current production of 145,000
tonnes per annum and a stated mine life of 37 years. Equinox has indicated the potential ability to expand
Lumwana to 260,000 tonnes per annum of copper within the next five years. In addition, Equinox's Jabal Sayid
project in Saudi Arabia, with a forecast average copper production of 60,000 tonnes per annum, is expected to
commence production in 2012. MMR is confident that through the application of its own management and technical
expertise that it can deliver and enhance Equinox's current operations and stated expansion plans.

Funding

MMR's consideration for the Offer is expected to be financed through a combination of existing cash reserves,
long term credit facilities from Chinese banks and equity including financial investments in MMR by Chinese
institutions. The proposed offer is supported by MMR's ultimate controlling shareholder, China Minmetals
Corporation. Funding details will be set out in the offer and circular in respect of the Offer.

The President of China Minmetals Corporation, Mr. Zhou Zhongshu, commented: "As MMR's largest shareholder, we
are delighted to extend our support for the acquisition. We regard this transaction as an important next step in
MMR's transformation into a leading upstream base metals company."

The Offer

Full details of the Offer will be set out in the offer and circular to be mailed to Equinox shareholders. MMR
expects to formally commence the Offer and mail the offer and circular to Equinox shareholders within 3 weeks.

It is currently anticipated that all shareholders, including holders of Australian CHESS Depository Instruments,
will be able to elect to receive the C$7.00 per share offer price in Australian dollars based on the exchange
rate at or about the time of payment.

The Offer will be subject to certain conditions including, without limitation:

* termination of the existing Equinox bid for Lundin without any Lundin shares being taken up;
* simple majority approval of MMR shareholders as required under the Rules Governing the Listing of Securities on
The Stock Exchange of Hong Kong Limited. MMR's majority shareholder, China Minmetals Corporation, has indicated
that it fully supports the acquisition and controls sufficient votes to pass the required resolution once NDRC
approval to cast its votes is obtained;
* shares having been deposited (and not withdrawn) representing, together with the Equinox shares already owned
by MMR, more than two-thirds of the outstanding Equinox shares on a fully-diluted basis. MMR has an existing 4.2%
shareholding in Equinox;
* receipt of applicable regulatory approvals (including approval under the Australian Foreign Acquisitions and
Takeovers Act) and other customary conditions for an offer of this nature; and
* Equinox's shareholder rights plan being terminated, waived or determined to be ineffective.

MMR expects the Offer to be completed by mid 2011.

MMR will host an analyst and investor conference call on Monday, April 4, 2011 at 10:00am Canadian / US
Eastern Standard Time / 15:00pm London Time.

Investors and analysts: Minmetals Resources Limited, Martin McFarlane, Head of Investor Relations,