All dollar figures are in US dollars, unless otherwise indicated.

Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) (“Equinox Gold” or the “Company”) is pleased to report that the Company recorded its strongest quarterly and annual gold production in the Company’s history, producing 213,960 ounces of gold in Q4 2024 and 621,870 ounces of gold for full-year 2024.

Greg Smith, President & CEO of Equinox Gold commented: “2024 was a pivotal year for Equinox Gold, defined by our success at Greenstone. We consolidated 100% ownership of the mine, achieved commercial production, and produced more than 111,700 ounces of gold in the first, partial year of operations at Greenstone. Several of our mines delivered their strongest fourth quarter in the Company’s history, contributing to consolidated 2024 production of approximately 621,870 ounces of gold, the highest annual production since Equinox Gold’s founding. As Greenstone ramps up to full capacity, we look forward to continued growth in 2025.”

Equinox Gold ended the year with approximately $240 million in cash and equivalents and $105 million available to draw on its revolving credit facility, plus another $100 million undrawn accordion feature. During the fourth quarter the Company reduced its debt by $180 million with the payment of the final $40 million due to Orion Mine Finance for the purchase of its 40% interest in Greenstone and with the conversion to equity by the holders of $140 million in convertible notes.

2024 Production Summary

2024 Results
(oz of gold) 2024 Guidance3
(oz of gold)
Greenstone 111,710 110,000 – 130,000
Mesquite 71,980 55,000 – 65,000
Castle Mountain1 20,510 15,000
Los Filos 170,370 155,000 – 175,000
Aurizona 71,620 70,000 – 80,000
Fazenda 62,380 65,000 – 70,000
Santa Luz 56,900 70,000 – 80,000
RDM 56,400 50,000 – 60,000
Total 2 621,870 590,000 – 675,000
1. Castle Mountain Phase 1 mining ceased at the end of August 2024; residual leaching and gold production will continue into 2025. 2. Totals may not sum due to rounding. 3. 2024 guidance was revised to reflect the consolidation of ownership and ramp-up progress at Greenstone, the suspension of mining at Castle Mountain Phase 1 until Phase 2 permitting is complete, slower-than-expected recoveries at Mesquite, and a production interruption in Q2 due to a geotechnical event at Aurizona.

The 2024 production and cash balance information is preliminary and subject to change. The Company expects to release its audited Q4 2024 and annual 2024 financial and operating results, along with its 2025 production and cost guidance, in late February.

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