All dollar amounts shown in United States dollars, unless otherwise indicated.

This is a "designated news release" for the purposes of the Company's prospectus supplement dated
November 21, 2022, to its short form base shelf prospectus dated November 21, 2022.

Vancouver, British Columbia--(Newsfile Corp. - September 18, 2023) - Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) ("Equinox Gold" or the "Company") announces that it has entered into an agreement with BMO Capital Markets, on behalf of itself and the other initial purchasers (collectively, the "Initial Purchasers"), pursuant to which the Initial Purchasers have agreed to buy, on a bought deal basis, 4.75% unsecured convertible senior notes due 2028 (the "Notes") in an aggregate principal amount of $150 million (the "Offering"). The Company has granted the Initial Purchasers an option for a period of 30 days to purchase up to an additional $22.5 million aggregate principal amount of Notes. The Notes will be issued at par value.

The Company intends to use net proceeds of the Offering for repayment of debt and for general corporate purposes.

The Notes will bear cash interest semi-annually at a rate of 4.75% per annum. The initial conversion rate for the Notes will be 158.7302 common shares of Equinox Gold ("Shares") per $1,000 principal amount of Notes, equivalent to an initial conversion price of approximately $6.30 per Share (in C$ 8,46 USA/C$ 1,3431). The initial conversion rate represents a premium of approximately 20% relative to today's closing sale price of Shares and is subject to adjustment in certain events.

Equinox Gold will have the right to redeem the Notes in certain circumstances and holders will have the right to require Equinox Gold to repurchase their Notes upon the occurrence of certain events.

The Offering is expected to close, subject to customary closing conditions, on or about September 21, 2023.

The Notes and the Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or qualified by a prospectus in Canada. The Notes and the Shares may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from registration under the Securities Act. The Notes will be offered only to "qualified institutional buyers" (as defined in Rule 144A under the Securities Act) and outside the United States to non-U.S. persons in compliance with Regulation S under the Securities Act. Offers and sales in Canada will be made only pursuant to exemptions from the prospectus requirements of applicable Canadian provincial securities laws.

This news release is neither an offer to sell nor the solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer to sell or solicitation of an offer to buy, or a sale of, the Notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.

Equinox Gold Contacts

Greg Smith, President & Chief Executive Officer
Rhylin Bailie, Vice President Investor Relations