Equinox Minerals Limited announced that its takeover offer for Citadel Resource Group Limited closed at 5:00 PM on January 17th 2011. At the time of the offer closing, Equinox had obtained a relevant interest of 98.8% in Citadel.

As previously announced, Equinox has initiated compulsory acquisition procedures under the Australian Corporations Act and will be acquiring all remaining shares in Citadel.

Mr Craig Williams president and CEO of Equinox commented that "I would like to thank the Citadel board and management team for all their support received during the execution phase of this transaction. We congratulate Inés Scotland and her team on progressing Jabal Sayid through to the construction phase and the development of a broader exploration tenement package in Saudi Arabia, which Equinox will continue to aggressively pursue.”

He added that “Equinox wishes to welcome Citadel shareholders on to the register as Equinox enters the next phase of its growth strategy both in Zambia and Saudi Arabia."