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EQUATORIAL RESOURCES LIMITED Capital/Financing Update 2006

Feb 12, 2006

64870_rns_2006-02-12_f791348e-1e56-4887-931e-1c45bc038cb2.pdf

Capital/Financing Update

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ASX / Media Release

EQiTX Placement

13 February 2006, Melbourne: The Board of Directors of EQITX Limited (ASX:EOX) announced today that EOiTX has completed a placement of 2.4 million shares at \$0.20 per share. The capital raising was completed by Capital Investment Partners to sophisticated investors.

The placement raises AUD\$480,000 to provide additional working capital for EQITX and its projects. This brings the total capital raising in February 2006 to AUD\$1.18 million.

Inquiries

Sue MacLeman Chief Executive Officer EQITX Limited 0437 211 200

Rudi Michelson Monsoon Communications 0411 402 737

About EQITX (www.EQITX.com)

EQITX Limited (ASX:EQX) is a publicly listed Australian biotechnology company with interests in the areas of chronic diseases and age-related conditions. EQITX is developing a portfolio of technologies to a stage where they will be of commercial interest to multinational pharmaceutical and biotechnology companies. The company's two main programs are the ZingoTX project to develop pharmacologically active compounds for pain management, and the VacTX project to develop and commercialise novel synthetic immunotherapeutics against a range of human conditions, including infectious diseases, cancer, allergies and autoimmune diseases.

EQiTX Limited