INTRODUCTION

Equatorial’s 100% owned Mayoko-Moussondji Iron Project (“Mayoko”) is located in the southwest region of the ROC and covers a total of 1,000km2 within an emerging global iron ore province. The project has access to an existing bulk haulage railway line running directly to the deep-water port of Pointe-Noire. Equatorial’s current exploration strategy at Mayoko-Moussondji is to identify shallow hematite iron mineralisation with the potential to host direct shipping ore (“DSO”).

Extensive drilling and exploration is underway with the aim of preparing a maiden resource estimate in mid-2012 and the subsequent rapid development of production utilising the existing transport infrastructure which is a significant competitive advantage.