- All dollar amounts are expressed in US$
April 19, 2021 – Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) (“Equinox Gold” or the “Company”) is pleased to announce that the Company has sold its Pilar Gold Mine in Brazil to Pilar Gold Inc. for aggregate consideration of:

$38 million in cash, payable as follows:
$10.5 million on closing, which has been received;
$10 million payable on or before May 31, 2021; and
$17.5 million payable on or before July 31, 2021.
A 9.9% equity interest in Pilar Gold Inc.; and a
1% net smelter returns royalty on production from the Pilar Gold Mine.
Christian Milau, CEO of Equinox Gold, commented: “Equinox Gold has grown considerably over the last two years and the sale of the Pilar Gold Mine is a step toward optimizing our portfolio to focus on our larger production and development assets. With existing production and growth potential, the Pilar Gold Mine is an excellent foundation mine for an emerging gold company. We look forward to participating in the success of Pilar Gold Inc. as a supportive shareholder as they launch a new Brazil-focused gold producer.”

Jeremy Gray, CEO of Pilar Gold Inc., commented: “We are privileged to acquire an asset of the calibre of the Pilar Gold Mine, which will be our foundation asset for the company. The operation has an outstanding production history, high quality infrastructure and a substantial gold resource that we believe will support a long mine life. We look forward to working with the Pilar Gold Mine’s existing team and investing in the operation to increase production and gold reserves.”

The Pilar Gold Mine accounts for approximately 35,000 ounces or 5% of Equinox Gold’s previously reported 2021 production guidance of 600,000 to 665,000 ounces of gold. Guidance will be updated in May, including to reflect the sale of the Pilar Gold Mine and the addition of the producing Mercedes mine in Mexico to Equinox Gold’s portfolio with the recent completion of the Company’s acquisition of Premier Gold Mines.

Pilar Gold Inc. is a private Canadian company with plans to seek a public listing later this year.1

1 Listing of Pilar Gold Inc. is subject to the approval of the applicable stock exchange. There is no guarantee that Pilar Gold Inc. will receive approval for such listing.

About Equinox Gold

Equinox Gold is a Canadian mining company operating entirely in the Americas, with seven operating gold mines and a clear path to achieving more than one million ounces of annual gold production from a pipeline of development and expansion projects. Equinox Gold’s common shares are listed on the TSX and the NYSE American under the trading symbol EQX. Further information about Equinox Gold’s portfolio of assets and long-term growth strategy is available at www.equinoxgold.com or by email at ir@equinoxgold.com