VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 12, 2012) - Equinox Exploration Corp. (TSX VENTURE:EQX) (Equinox), is pleased to announce the company is in receipt of a NI 43-101 compliant technical report entitled "43-101 Technical Report Binghampton Copper Queen Property" dated May 15, 2012 and authored by R. Tim Henneberry, P.Geo., an independent qualified person for the purpose of NI 43-101. The Technical Report highlights that Binghampton Copper Queen is a property of merit and makes recommendations for a multi-thrust exploration program which includes property mapping and prospecting, rock sampling and airborne geophysics.
The Binghampton Copper Queen property is situated in Yavapai County, Arizona, located in what is known as the Arizona Copper Belt which is home to historically significant mines including the Bagdad, Crown King, and Jerome mines.
According to the report, the property contains two known zones of massive sulfide mineralization: one at the Binghampton mine and one at the Copper Queen Mine. According to data from the Arizona Geological Survey as reported in DeWitt (1995) production for the Binghampton mine was 157,247 short tons at an average grade of 3.10 percent copper and 0.256 ounces per ton silver (8.8 grams per tonne) and the production for the Copper Queen mine was 1,413 short tons at an average grade of 9.95 percent copper, 0.25 percent zinc, 1.582 ounces per ton silver (54.2 grams per tonne) and 0.097 ounces per ton gold (3.3 grams per tonne).
The report recommends performing prospecting and geological mapping to obtain an understanding on the geology and to locate both exhalite (chert) and pyritic horizons that may indicate proximal sulfide horizons.
In addition, the report also recommends an Airborne Time Domain Electromagnetic (EM) survey to assist in unraveling the geology of the volcanic pile and test the volcanic package for potential massive sulfide targets. This recommendation includes a diamond drilling program once the targets have been identified.
Equinox is earning a 100% interest in the Binghampton property by making cash payments of $1,250,000 and issuing 5,000,000 shares over the next four years, subject to a 3% Net Smelter Return Royalty. Equinox has the right to purchase the royalty at a price of US$1,000,000 per 1%. In addition, Equinox is obligated to pay $250,000 and issue a further 1,000,000 million shares on the filing of a NI43-101 resource estimate for the property.
A completed version of the, 43-101 Technical Report Binghampton Copper Queen can be found on Equinox Exploration's web page and accessed by clicking on the following link www.EquinoxExploration.com or on www.sedar.com.
About Equinox Exploration Corp.
Equinox Exploration Corp. is a publicly traded corporation listed on the TSX-Venture Exchange (TSX VENTURE:EQX) and is engaged in mineral exploration and development. The major focus is on copper exploration properties in the Southwest United States where management has extensive experience and a proven track record of discovery. To find out more about Equinox visit its website at www.EquinoxExploration.com.
Stephen B. Butrenchuk, P.Geol., P Geo., Director of Equinox, is the Qualified Person as defined in National Instrument 43-101 who has reviewed and approved the technical content of this news release.
On behalf of the Board of Directors of Equinox Exploration Corp.
Victor Nielsen, President & COO
On behalf of the Board of Directors,
Roy Fuller, Director
This news release includes certain statements that may be deemed "forward-looking statements". Forward-looking information includes, but is not limited to: statements with respect to the effect and estimated timeline of the drilling and assay results on the Company; the estimation of mineral reserves and mineral resources; the timing and amount of estimated future exploration; costs of exploration; capital expenditures; success of exploration activities; permitting time lines and permitting ; government regulation of mining operations; environmental risks; unanticipated reclamation expenses; and title disputes or claims. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include: unsuccessful exploration results; changes in metals prices; changes in the availability of funding for mineral exploration; unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filings that are available at www.sedar.com.
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