Equinox Challenges Heritage Ruling While Advancing Titanium and Antimony Projects

Legal Challenge at Hamersley Iron Ore Project

Equinox Resources Limited has initiated Supreme Court proceedings to contest the Western Australian Minister for Aboriginal Affairs' refusal of a Section 18 application, which blocked an infill drilling program at its 108.5 million tonne Hamersley Iron Ore Project. The refusal was based on newly identified ethnographic sites linked to Aboriginal heritage, despite prior approvals and extensive drilling under a Native Title Agreement with the Wintawari Guruma Aboriginal Corporation. The judicial review is set for listing before the end of July 2025, with Equinox asserting the decision warrants reconsideration.

Strong Progress at Mata da Corda Titanium Project

In Brazil, Equinox continues to advance the Mata da Corda Project, reporting impressive near-surface titanium dioxide intercepts such as 47 metres at 12.8% TiO₂ and 32 metres at 12.7% TiO₂. Metallurgical testwork confirms a high total heavy mineral content of 84.7% in the deslimed sand fraction, with nearly half recoverable as valuable titanium minerals including ilmenite and leucoxene. Drilling has covered less than 3% of the 972 km² project area, underscoring significant exploration upside. The company targets a maiden Mineral Resource Estimate supported by ongoing drilling, mineralogical mapping, and economic studies.

Strategic Partnerships to Unlock Alturas Antimony Potential

Equinox signed a non-binding Memorandum of Understanding with Alaska Antimony Corporation and SB51 Pte Ltd to facilitate offtake, processing, and marketing of ore from its Alturas Antimony Project in British Columbia, Canada. The project boasts exceptionally high antimony grades up to 69.98% Sb, positioning it as a critical Western-aligned supply source amid global market tightness and geopolitical risks. The MoU grants Alaska Antimony rights to negotiate a Right of First Refusal for ore supply to a proposed refinery in Alaska, while SB51 will manage global sales. Plans include bulk sampling and ore qualification to accelerate revenue generation.

Expanding Footprint with Mozy Marsh Gold-Antimony Acquisition

Post-quarter, Equinox secured a binding option to acquire 100% of the Mozy Marsh Gold-Antimony Project, also in British Columbia. Historical sampling reveals outstanding gold and silver grades, with assays up to 131 g/t Au and 353 g/t Ag from quartz-stibnite veins. Antimony mineralisation is visually confirmed, though assays are pending. The project offers significant exploration potential in a well-accessed, Tier-1 jurisdiction. An aggressive work program is underway, including sample assays, geological mapping, geophysical surveys, and planning for bulk sampling and drilling.

Ongoing Exploration and Financial Position

Equinox’s Campo Grande Rare Earth Project in Bahia, Brazil, awaits assay results from recent drilling, expected soon to guide further exploration. Financially, the company reported a cash balance of just $239,000 at quarter-end, with exploration expenditure of $1.37 million during the period. To sustain its multi-project development strategy, Equinox is in advanced talks with brokers for a capital raising planned in the current quarter. The company remains committed to progressing its portfolio while navigating regulatory and operational challenges.