Initial drill results from Equinox’s J&L project

The eight holes were drilled as fill-in holes to develop a proven reserve for purposes of a bankable feasibility study.

At last report, reserve figures for the project (as outlined by a previous operator) stood at 11,438,000 tons of 0.20 oz gold, 2.01 oz silver, 2.56% lead and 4.48% zinc. The over-all deposit contains zones of significantly higher grade in certain metals, including extensive areas with values o ver 0.25 oz gold per ton, and others with combined lead-zinc values exceeding 10% per cent. Recent drill results are: GoldSilverLeadZinc HoleFeetozoz%% 1 6.80.4453.404.0 6.0 218.70.4671.702.6 3.7 3 1.10.5193.354.9 8.8 4 6.10.7664.605.9 6.9 5 5.40.5702.453.0 4.4 618.30.3421.452.4 3.5 incl. 8.60.6472.504.5 5.8 7 2.20.4303.245.511.1 8 7.40.2142.643.6 6.4

The deposit also contains an average of five arsenic. Previous operators were reported to have shied away from problems in the extractive metallurgy of the deposit and from more expensive mine development costs. Equinox said extensive pilot scale metallurgical test work will follow the drilling program.

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