Vancouver, British Columbia--(Newsfile Corp. - June 17, 2025) - Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) ("Equinox Gold") and Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF) ("Calibre") are pleased to announce successful completion of the previously announced business combination pursuant to which Equinox Gold has acquired all of the issued and outstanding common shares of Calibre (the "Calibre Shares") pursuant to a court-approved plan of arrangement (the "Transaction").

The Transaction has created an Americas-focused diversified gold producer with a portfolio of mines in five countries anchored by two high-quality, long-life, Canadian gold mines: the Greenstone Gold Mine ("Greenstone") in Ontario and the Valentine Gold Mine ("Valentine") in Newfoundland & Labrador. Valentine is in the final stages of construction and plant commissioning, with first gold expected by the end of Q3 2025. With Greenstone and Valentine at nameplate capacity, Equinox Gold will become the second largest gold producer in Canada.

Ross Beaty, Chair of the Equinox Gold Board of Directors, commented: "On behalf of the entire Equinox Gold team, I extend our sincere thanks to outgoing directors Gordon Campbell and Dr. Sally Eyre, Doug Reddy, outgoing Chief Operating Officer, and Scott Heffernan, outgoing Executive Vice President Exploration, for their valuable contributions to Equinox Gold over the last several years.

"I am also pleased to announce the appointments of Blayne Johnson, Doug Forster, Omaya Elguindi and Mike Vint, former directors of Calibre, to the Board of Directors of Equinox Gold, effective immediately, with Lenard Boggio, Maryse Bélanger, Trudy Curran, Marshall Koval, Greg Smith and myself remaining as directors.

"The combined company will be led by Greg Smith, Chief Executive Officer and Director, Darren Hall, President and Chief Operating Officer, and Peter Hardie, Chief Financial Officer.

"This merger represents a transformative step forward for both Equinox Gold and Calibre, bringing together two complementary companies with strong production, growth potential, and the operational expertise to generate significant long-term value for our shareholders and stakeholders."

Blayne Johnson, Chair of the Calibre Mining Board of Directors, commented: "On behalf of the entire Calibre team, I would like to extend my sincere thanks to outgoing directors Ed Farrauto, Paula Caldwell St-Onge, Sian Tasaka and Audra Walsh for their dedicated service and their important contributions to delivering meaningful value for our shareholders. I also want to acknowledge and thank all Calibre employees for their ongoing commitment and hard work. The successful completion of this merger marks a pivotal milestone, providing a robust platform for increased gold production and long-term value creation. By combining the assets and leadership of two strong Canadian companies, Equinox Gold is now better positioned to enhance its scale, resilience, and growth trajectory, backed by a leadership team with a proven track record of success for shareholders."

Equinox Gold intends to cause Calibre to (i) delist the Calibre Shares from the Toronto Stock Exchange, (ii) apply to cease to be a reporting issuer and (iii) otherwise terminate its public company reporting requirements as soon as possible.

Calibre Shares held in online trading accounts or in brokerage accounts will update automatically to reflect the receipt of Equinox Gold shares, generally within two weeks of closing. Calibre shareholders who hold physical share certificates or DRS Statements must submit a Letter of Transmittal to Equinox Gold's transfer agent, Computershare Investor Services Inc., to receive their Equinox Gold shares. Additional information regarding the process of receiving Equinox Gold shares is available on Equinox Gold's website at www.equinoxgold.com or by emailing ir@equinoxgold.com.

BMO Capital Markets and GenCap Mining Advisory acted as financial advisors to Equinox Gold for the Transaction. Blake, Cassels & Graydon LLP acted as Canadian legal advisor to Equinox Gold.

Trinity Advisors Corporation, Canaccord Genuity Corp., National Bank Financial and Scotiabank acted as financial advisors to Calibre for the Transaction. Cassels Brock & Blackwell LLP acted as Canadian legal advisor to Calibre.

About Equinox Gold Corp.

Equinox Gold (TSX: EQX) (NYSE American: EQX) is a Canadian mining company positioned for growth with a strong foundation of high-quality, long-life gold operations in Canada and across the Americas, and a pipeline of development and expansion projects. Founded and chaired by renowned mining entrepreneur Ross Beaty and guided by a seasoned leadership team with broad expertise, the Company is focused on disciplined execution, operational excellence, and long-term value creation. Equinox Gold offers investors meaningful exposure to gold with a diversified portfolio and clear path to growth. Learn more at www.equinoxgold.com or contact ir@equinoxgold.com.

For further information, please contact:

Ryan King
Senior Vice President, Capital Markets and Strategy
T: 778.998.3700
E: ir@equinoxgold.com
W: www.equinoxgold.com

Rhylin Bailie
Vice President, Investor Relations
T: 604.260.0516
E: ir@equinoxgold.com
W: www.equinoxgold.com

Cautionary Note Regarding Forward-looking Information