Greenstone Gold Mine Expecting Stronger H2, Valentine Gold Mine on Track
Canadian Cornerstone Assets Mark Inflection in Production Scale and Future Cash Flow
Vancouver, British Columbia--(Newsfile Corp. - July 8, 2025) - Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) ("Equinox Gold" or the "Company") is pleased to announce production results for the three months ("Q2") ended June 30, 2025, along with an update on construction and commissioning progress at its Valentine Gold Mine ("Valentine") in Newfoundland & Labrador, Canada, and ramp-up at its Greenstone Gold Mine ("Greenstone") in Ontario, Canada. All financial figures are in US dollars, unless otherwise indicated.
Greg Smith, CEO of Equinox Gold, commented: "Equinox Gold is at an important inflection point following the successful completion of the business merger with Calibre Mining and the updating of 2025 guidance. The transaction with Calibre Mining added a second high-quality, long-life Canadian gold mine to our portfolio and strengthened the leadership team, with Darren Hall bringing his operational expertise as President and COO. Additionally, new senior executives add extensive operating, technical and capital markets knowledge to the Equinox Gold team, and four new directors bring decades of experience to our Board.
"With Greenstone continuing to ramp up we expect a strong second half of the year and with Valentine on track that positive momentum will continue into 2026. With $406 million in cash and growing production from two new long-life Canadian gold mines, the Company is well positioned to unlock significant long-term value."
Darren Hall, President & COO of Equinox Gold, commented: "Our updated 2025 consolidated guidance of 785,000 to 915,000 ounces provides a solid foundation to build market momentum as we focus on operational excellence and deliver into expectations. The integration of assets and personnel is well underway, ensuring clarity in roles, responsibilities and accountabilities across all functions.
"Total consolidated Q2 production delivered 219,122 ounces including 51,274 ounces from Greenstone and 72,823 ounces from the Calibre Mining assets, consistent with expectations. We are implementing a comprehensive Greenstone improvement plan, commencing with the deployment of additional human capital. We are expecting continued improvements through the second half of the year.
"Valentine is progressing well, and we anticipate first ore through the mill during late August, with first gold approximately a month later. Given the seasoned construction and operating team who have significant commissioning experience, we anticipate an effective ramp up through year end and into Q1 2026."
Highlights
Completed the business combination with Calibre Mining, creating a major Americas-focused diversified gold producer anchored by two high-quality, long-life Canadian gold mines
Consolidated year to date gold production of 401,211 ounces, excluding Los Filos and Castle Mountain
Q1: 182,089 ounces, including 44,449 ounces from Greenstone and 71,539 ounces from the Calibre assets
Q2: 219,122 ounces, including 51,274 ounces from Greenstone and 72,823 ounces from the Calibre assets
Cash and equivalents of $406 million at June 30, 2025
Valentine on schedule and forecast for first ore through the mill during late August
Exploring across the portfolio with 250,000 metres of discovery and resource expansion drilling underway
Discovery drilling at the Valentine Gold Mine: drilling at the Frank Zone has been traced over 1 kilometre along strike and 500 metres deep; results include: 2.43 grams per tonne ("g/t") gold over 172.8 metres estimated true width ("ETW"), including 3.84 g/t gold over 90.1 metres ETW, 2.12 g/t gold over 95.4 metres ETW, 2.26 g/t gold over 78.3 metres ETW, 3.08 g/t gold over 48.2 metres ETW and 1.94 g/t gold over 36.4 metres ETW (see Calibre Mining news release dated February 11, 2025)
Valentine Update
Final plant commissioning well underway
First ore through the plant by the end of August
All operations leadership positions fully staffed
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Valentine Primary Conveyor and Stockpile Building (June 2025)
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Valentine Mining Activity (June 2025)
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Valentine SAG and Ball Mill (June 2025)
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Valentine Process Plant (June 2025)
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Q2 2025 Conference Call Details
Equinox Gold will release its unaudited financial and operating results for the three and six months ended June 30, 2025, on Wednesday, August 13, 2025, after market close. The Company will host a conference call and webcast to discuss the results the following morning on Thursday, August 14, 2025, commencing at 7:30am PT (10:30am ET). The webcast will be available for replay on Equinox Gold's website until February 14, 2026.
Conference call
Toll-free in U.S. and Canada: 1-833-752-3366
International callers: +1 647-846-2813
Webcast login
Equinox Gold | Financials
Qualified Person
The scientific and technical information contained in this news release was approved by David Schonfeldt, P. Geo., VP Mine Geology for Equinox Gold and a "Qualified Person" under National Instrument 43-101.
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