Equinox Gold Commences Stockpiling of Ore at Aurizona Gold Mine
TSX-V: EQX
OTC: EQXGF
Suite 730 – 800 West Pender St., Vancouver, BC Canada V6C 2V6
[email protected] +1 604.558.0560 www.equinoxgold.com
NEWS RELEASE
Equinox Gold Commences Stockpiling of Ore at Aurizona Gold Mine
July 24, 2018 – Vancouver, BC – Equinox Gold Corp. (TSX-V: EQX, OTC: EQXGF) (“Equinox Gold” or the “Company”)
is pleased to provide an update on construction progress at its Aurizona Gold Mine in Brazil (“Aurizona”). All dollar
amounts are in US dollars. Construction remains on budget and on schedule to pour gold by late 2018 with the
expectation of producing on average 136,000 ounces of gold per year.
Construction and Mining Progress
• Stockpiling of ore commenced on July 18
• New SAG and ball mills have been delivered to site and installation is underway
• Overall project is 60% complete
- Concrete work is 82% complete
- Plant construction is 51% complete
- EPCM (engineering, procurement and construction management) activities are 75% complete
- Engineering is complete
Construction progress at Aurizona is documented in a photo gallery on Equinox Gold’s website at
www.equinoxgold.com and a number of photos are included at the end of this news release.
The SAG and ball mills have been delivered to site and installation is underway. Concrete work continues in the
surge bin, reagent and thickening areas and is 92% complete in the crusher area, 93% complete in the grinding area
and finished in the leaching area. Structural steel erection in the grinding area is well advanced and the thickener
tank platework is complete.
Pre-production mining activities commenced in mid-April and are progressing on schedule. The mining contractor
has removed more than 986 ,000 tonnes of waste to date and roadwork is well advanced . Stockpiling of ore to
prepare for commissioning of the plant commenced on July 18, 2018.
The $146 million project budget remains fully funded. As at June 30, 2018, the C ompany had spent $64 million of
the project budget. The remaining $82 million of project spend will be funded by a combination of: (i) cash on hand
at June 30, 2018 of $65 million; (ii) $30 million of project debt draws (the Company drew $40 million of project debt
from the $85 million facility during Q2-2018 and $15 million in Q4 -2017); and (iii) receivables as at June 30, 2018
totalling over $12 million.
On Behalf of the Board of Equinox Gold Corp.
“Christian Milau”
CEO & Director
Equinox Gold Contacts
Christian Milau, CEO & Director
Rhylin Bailie, Vice President Investor Relations
Tel: +1 604-558-0560
Email: [email protected]
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Aerial view of Aurizona Plant (foreground) and tailings facility (background)
Mining waste on upper levels of Piaba Pit
CIP Tanks
Mill Site
Thickener
Leach Tanks
Tailings Facility
CN Destruct
Crusher
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SAG and ball mill installation underway
Foundations and framework for crusher
- 4 -
Refurbishment of leach tanks
Thickener
- 5 -
About Equinox Gold
Equinox Gold is a Canadian mining company with a multi-million-ounce gold resource base, near-term and growing
gold production from two past-producing mines in Brazil and California, and a diverse portfolio of gold and copper
assets in North and South America. Construction is underway at the Company’s Aurizona Gold Mine in Brazil with
the objective of pouring gold by year -end 2018, and the Company is advancing its Castle Mountain Gold Mine in
California with the objective of commissioning Phase 1 operations by the end of 2019 . The Company’s plan to
transfer all of its copper assets to a newly incorporated company named Solaris Copper Inc. will be voted on at the
Company’s annual and special meeting of shareholders on July 26, 2018. Further information about Equinox Gold’s
current portfolio of assets and long -term growth strategy is available at www.equinoxgol d.com or by email at
Cautionary Notes and Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This document contains certain forward- looking information and forward- looking statements within the meaning
of applicable securities legislation (collectively “forward-looking statements”). The use of the words “will”, “will have
been”, “to be”, “expected”, “objective”, “expectation”, “underway” and similar expressions are intended to identify
forward-looking statements. Forward-looking statements contained in this news release include, but are not limited
to, statements regarding construction activities underway at Aurizona, anticipated production from the Aurizona
Gold Mine and Castle Mountain Gold Mine, the potential for other assets of the Company, and the growth potential
of the Company. Although the Company believes that the expectations reflected in such forward-looking statements
and/or 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. These statements involve known
and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from
those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified
in the Company’s periodic filings with Canadian securities regulators, and as sumptions made with regard to the
Company’s ability to complete construction at Aurizona on time and on budget or at all; the timing to achieve
production; the Company’s ability to extend the Aurizona mine life, develop the underground potential of the deposit
or identify new mineralization in the Aurizona district; the Company’s ability to commence commissioning and
achieve production at Castle Mountain; and the Company’s ability to achieve its expected growth and production
potential. Furthermore, the forward-looking statements contained in this news release are made as at the date of
this news release and the Company does not undertake any obligations to publicly update and/or revise any of the
included forward-looking statements, whether as a result of additional information, future events and/or otherwise,
except as may be required by applicable securities laws.