Equinox Purchases the Remaining 60% Interest in Copper Queen Property Jul 30 2012
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/30/12 -- Equinox Exploration Corp. (TSX VENTURE:EQX) -
As provided under the terms of the agreement announced May2, 2012, for consideration of $275,000, Equinox has purchased the remaining 60% interest in the Copper Queen property, a 353.7 acre tract of 26 Federal patented mining claims on private land immediately adjacent to the Binghampton Property.
The Binghampton Property consists of a 100% interest in a tract of land that includes state permits, unpatented mining claims on federal land, and private land totaling 4331.8 acres. The Binghampton Property also included a 40% interest in an additional 353.7 acre tract of land immediately adjacent, with an agreement in place to acquire the remaining 60% interest within 90 days of the original transaction. Under the terms of the agreement, Equinox has purchased the remaining 60% interest for a $275,000 additional consideration.
Equinox also announces that Mr. James Bunyan has resigned from the Board of Directors and would like to thank him for his service in that capacity.
In addition, the Board of Directors has granted stock options to 929,000 incentive stock options to directors, officers and employees at a price of $0.14 with a 5 year term, expiring on July 29, 2017.
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 in the United States and Chile. 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.
R. Tim Henneberry, P.Geo., on the Advisory Board 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.
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; potential future expansion of the PFNP; 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.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Equinox Exploration Corp.
Victor L. Nielsen
Equinox Exploration Corp.