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Equinox Gold Produces 564,500 Ounces of Gold in 2023, Reports 155,000 Ounces of Gold Produced in Fourth Quarter

Press Release

January 11, 2024

All dollar figures are in US 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.

Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) (“Equinox Gold” or the “Company”) is pleased to report that the Company recorded its strongest production quarter for the year with 155,000 ounces of gold produced in Q4 2023 and achieved consolidated production guidance with total production of 564,500 ounces of gold during 2023. The Company ended the year with approximately $192 million in cash and equivalents.

The 2023 production and cash balance information is preliminary and subject to change. The Company will release its Q4 2023 and audited annual 2023 financial and operating results, along with its 2024 production and cost guidance, in late February.

Greg Smith, President & CEO of Equinox Gold commented: “Strong fourth quarter results capped off a good year for Equinox Gold. With 564,500 ounces of gold produced, we achieved our full-year production guidance. We also continued to advance Greenstone on budget and on schedule. Installation activities were effectively complete at December 31 and commissioning is underway to pour gold in the first half of 2024.

“We ended the year with approximately $192 million in cash and equivalents, $165 million available to draw on our revolving credit facility plus another $100 million undrawn accordion feature, and equity investments with a market value of approximately $123 million.”

2023 Production Summary

Production increased during Q4 2023 to 155,000 ounces of gold, the strongest production quarter for the year. Full-year production of 564,500 ounces of gold was within production guidance of 555,000 to 625,000 ounces of gold. Equinox Gold will provide additional discussion and analysis regarding its full year and Q4 2023 production results when the Company reports its audited Q4 2023 and annual 2023 financial and operating results in late February.

2023 Results 1
(oz of gold)
2023 Guidance
(oz of gold)
Mesquite 87,800 80,000 – 90,000
Castle Mountain 20,800 25,000 – 35,000
Los Filos 159,100 160,000 – 180,000
Aurizona 120,600 120,000 – 130,000
Fazenda 66,400 60,000 – 65,000
Santa Luz 57,200 60,000 – 70,000
RDM 52,600 50,000 – 60,000
Total 2 564,500 555,000 – 625,000

1. Production results are preliminary and subject to change. 2. Totals may not sum due to rounding.

About Equinox Gold

Equinox Gold is a growth-focused Canadian mining company operating entirely in the Americas. The Company has seven operating gold mines in the USA, Mexico and Brazil, is commissioning a new mine in Canada that is on track to pour first gold in H1 2024, and has a path to achieve more than one million ounces of annual gold production by advancing a pipeline of 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.

Equinox Gold Contacts

Greg Smith, President & Chief Executive Officer
Rhylin Bailie, Vice President Investor Relations
Tel: +1 604-558-0560
Email: ir@equinoxgold.com

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