Equinox Gold Announces Filing of Santa Luz Technical Report all dollar figures are in US dollars
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 Announces Filing of Santa Luz Technical Report
all dollar figures are in US dollars, unless otherwise indicated
November 30, 2020 – Vancouver, BC – Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) (“Equinox Gold” or
the “Company”) has filed a National Instrument 43 -101 Technical Report regarding the feasibility study and
mineral reserve estimate for its 100% owned Santa Luz Gold Mine located in Bahia State, Brazil, the results of
which were announced on November 9, 2020. The technical report is available for download on SEDAR at
www.sedar.com, on EDGAR at www.sec.gov/edgar and on Equinox Gold’s website at www.equinoxgold.com.
On November 9, 2020, Equinox Gold announced Board of Directors approval to commence full construction of
the Santa Luz Gold Mine with an approved construction budget of $103 million . Using the base case $1,500/oz
gold price, Santa Luz is expected to produce 903,000 ounces of gold over an initial 9.5 -year mine life , with
additional upside from underground mineral resources. At $1,500/oz gold, the project has an after- tax net
present value discounted at 5% of $305 million with an internal rate of return of 58%. Construction is underway,
with first gold pour targeted for Q1 2022.
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 Go ld’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 [email protected].
Equinox Gold Contacts
Christian Milau, Chief Executive Officer
Rhylin Bailie, Vice President, Investor Relations
Tel: +1 604-558-0560
Email: [email protected]
Technical Information
Doug Reddy, Msc, P.Geo., Equinox Gold’s COO, is a Qualified Person under National Instrument 43-101 for Equinox Gold and
has approved the technical content of this document.
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 and may include future- oriented financial information. Forward- looking statements and
forward-looking info rmation in this news release relate to, among other things: the Company’s ability to successfully
- 2 -
advance and achieve production at Santa Luz, the Company’s ability to exploit the Mineral Resources below the existing C1
open pit at Santa Luz, the strategic vision for the Company and expectations regarding production capabilities and future
financial or operating performance, and the Company’s ability to successfully advance its growth and development projects.
Forward-looking statements or information gener ally identified by the use of the words “will”, “targeted”, “ clear path”,
“underway”, “expected” and similar expressions and phrases or statements that certain actions, events or results “could”,
“would” or “should”, or the negative connotation of such terms, are intended to identify forward- looking statements and
information. Although the Company 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 the Company can give
no assurance that such expectations will prove to be correct. The Company has based these forward-looking statements and
information on the Company’s current expect ations and projections about future events and these assumptions include:
prices for gold remaining as estimated; currency exchange rates remaining as estimated; construction and development at
Santa Luz being completed and performed in accordance with cur rent expectations; tonnage of ore to be mined and
processed; ore grades and recoveries; the timely delivery and commissioning of equipment required for the restart of Santa
Luz; availability of funds for the Company’s projects and future cash requirements; capital, decommissioning and
reclamation estimates; Santa Luz Mineral Reserve and Mineral Resource estimates and the assumptions on which they are
based; prices for energy inputs, labour, materials, supplies and services; no labour -related disruptions and no unplanned
delays or interruptions in scheduled construction, development and production, including by blockade; all necessary permits,
licenses and regulatory approvals are received in a timely manner; and the Company’s ability to comply with environmental,
health and safety laws. While the Company 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.
The Company 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 from those expressed or implied by
such forward-looking statements and information contained in this news release and the Company has made assumptions
and estimates based on or related to many of these factors. Such factors include, without limitation: fluctuations in gold
prices; fluctuations in prices for energy inputs, labour, materials, supplies and services; fluctuations in currency markets;
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 risks and hazards; employee
relations; relationships with, and claims by, local communities and indigenous populations; the Company’s ability to obtain
all necessary permits, licenses and regulatory approvals in a timely manner or at all; 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 identi fied in the Company’s MD&A dated February 28, 2020 and its Annual Information Form
dated May 13, 2020, both of which relate to the year -ended December 31, 2019 , and in the Company’s MD&A dated
November 5, 2020 for the three and nine months 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, the Company assumes no obligation to publicly announce the results of any
change to any forward- looking statement or inf ormation 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 the Company updates any one or more fo rward-looking statements, no inference should be drawn that
the Company 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 qual ified in their entirety by this cautionary
statement.