June 26 (Reuters) - Equus Mining Ltd EQE.AX :
* EXECUTED A NON-BINDING HEADS OF AGREEMENT WITH MANDALAY RESOURCES CORPORATION
* EQUUS MINING - AGREEMENT FOR A 3 YEAR OPTION TO BUY ALL MINING PROPERTIES, RESOURCES AND MINE INFRASTRUCTURE AT MANDALAY'S CERRO BAYO PROJECT IN CHILE
* CONSIDERATION FOR ACQUISITION INCLUDES ISSUANCE OF 19% OF EQUUS'S SHARE CAPITAL AT TIME OF EXERCISE TO MANDALAY