Equinox Gold Achieves Commercial Production at the Castle Mountain Gold Mine
TSX: EQX
NYSE-A: EQX
Suite 1501 - 700 West Pender St., Vancouver, BC Canada V6C 1G8
[email protected] +1 604.558.0560 www.equinoxgold.com
NEWS RELEASE
Equinox Gold Achieves Commercial Production at the Castle Mountain Gold Mine
November 23, 2020 – Vancouver, BC – Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) is pleased to announce
that commercial production has been achieved at its Castle Mountain Gold Mine in California, USA.
Equinox Gold expects to produce between 5,000 to 10,000 ounces of gold at Castle Mountain in 2020, with average
annual production of approximately 40,000 ounces of gold during the Phase 1 mine life. Equinox Gold is reviewing
the potential for a Phase 2 expansion that is expected to increase average production to 200,000 ounces of gold
annually. The Phase 2 feasibility study is targeted for completion in Q1 2021.
Christian Milau, Equinox Gold’s CEO, stated, “Achieving commercial production at Castle Mountain is an important
step for what will ultimately be a long -life 200,000 ounce per year gold mine , bringing significant benefits to local
communities, the State of California and Equinox Gold’s shareholders.”
About Equinox Gold
Equinox Gold is a Canadian mining company with seven operating gold mines and construction underway at an
eighth site, a multi-million-ounce gold reserve base and a clear path to achieve one million ounces of annual gold
production from a pipeline of development and expansion projects. Equinox Gold operates entirely in the Americas,
with two properties in the United States, one in Mexico and five in Brazil. 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 b y email at
Equinox Gold Contacts
Christian Milau, Chief Executive Officer
Rhylin Bailie, Vice President, Investor Relations
Tel: +1 604-558-0560
Email: [email protected]
Cautionary Notes and Forward-looking Statements
This news release contains certain forward -looking information and forward- looking statements within the meaning of
applicable securities legislation. Forward- looking statements and forward -looking information in this news release relate to,
among other things: Equinox Gold’s ability to successfully advance the Castle Mountain expansion, Equinox Gold’s strategic
vision and Equinox Gold’s ability to successfully advance its growth and development projects. Forward -looking statements or
information generally identified by the use of the words “will”, “reviewing ”, “expected ”, “expects”, “potential”, “targeted”,
“underway” and similar expressions and phrases or statements that certain actions, events or results “could”, “would” or
“should” occur, or the negative connotation of such terms, are intended to identify forward-looking statements and information.
Although Equinox Gold believes that the expectations reflected in such forward- looking statements and information are
reasonable, undue reliance should not be placed on forward-looking statements since Equinox Gold can give no assurance that
such expectations will prove to be correct. Equinox Gold cautions that forward- looking statements and information involve
known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially
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from those expressed or implied by such forward- looking statements and information contained in this news release and
Equinox Gold has made assumptions and estimates based on or related to many of these factors. While Equinox Gold considers
these assumptions to be reasonable based on information currently available, they may prove to be incorrect. Accordingly,
readers are cautioned not to put undue reliance on the forward -looking statements or information contained in this news
release. Such factors include, without limitation: prices for gold remaining as estimated; Equinox Gold’s ability to obtain all
necessary permits, licenses and regulatory approvals in a timely manner or at all ; development at Castle Mountain being
completed and performed in accordance with current expectations; currency exchange rates remaining as estimated;
availability of funds for the Phase 2 expansion and future cash requirements; prices for energy inputs, labour, materials, supplies
and services; no labor-related disruptions and no unplanned delays or interruptions in scheduled development and production,
including by blockade ; operational risks and hazards inherent with the business of mining (including environmental accidents
and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave- ins,
flooding and severe weather); inadequate insurance, or inability to obtain insurance to cover these ri sks and hazards ;
relationships with, and claims by, local communities and indigenous populations; changes in laws, regulations and government
practices, including environmental, export and import laws and regulations; legal restrictions relating to mining including those
imposed in connection with COVID -19; risks relating to expropriation; increased competition in the mining industry; and those
factors identified in Equinox Gold’s MD&A dated February 28, 2020 and its Annual Information Form dated May 13, 2020, both
for the year-ended December 31, 2019, and in Equinox Gold’s MD&A dated November 5, 2020 for the quarter ended September
30, 2020, all of which are available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov /edgar. Forward -looking
statements and information are designed to help readers understand management's views as of that time with respect to future
events and speak only as of the date they are made. Except as required by applicable law, Equinox Gold assumes no obligation
to publicly announce the results of any change to any forward- looking statement or information contained or incorporated by
reference to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting
the forward -looking statements and information. If Equinox Gold updates any one or more forward- looking statements, no
inference should be drawn that Equinox Gold will make additional updates with respect to those or other forward- looking
statements. All forward- looking statements and information contained in this news release are expressly qualified in their
entirety by this cautionary statement.