Uranium Mining and Exploration

[Arctec]

Equinox Minerals (EQN : TSX : $2.29), Net Change: 0.12, % Change: 5.53%, Volume: 7,626,086
In Australia, it’s the Olympic Dam. In Montreal, it’s the other way around. With financing complete and construction
underway for Equinox’s Lumwana copper project in Zambia, Equinox has now set its sights on developing the uranium
resource at Lumwana, deciding to proceed with a bankable feasibility study. Uranium-enriched zones on the property, which
have been estimated to contain an inferred resource of 21.4 million pounds of U3O8, would be mined separately from the
copper zones and would not impact the construction of the copper mine, which is on track for commissioning in Q2F08. This
would not be the only mine in the world whereby uranium is mined in conjunction with other base metals. BHP Billiton’s
(BHP) Olympic Dam mine in Australia is said to be the largest uranium deposit and the fourth-largest copper deposit in the
world, with gold and silver also mined there.