Equinox Gold Completes Construction of Phase 1 Castle Mountain 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 Completes Construction of Phase 1 Castle Mountain Mine
September 17, 2020 – Vancouver, BC – Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) (“Equinox Gold” or
the “Company”) is pleased to report that construction of the Phase 1 mine at its Castle Mountain Gold Mine in
California is complete, irrigation of the leach pad is underway and first gold pour is expected in Q4-2020.
Equinox Gold commenced construction of the Phase 1 mine at Castle Mountain on October 30, 2019 .
Construction is complete with no lost-time incidents. Photos of the Phase 1 mine are included at the end of this
news release. Equinox Gold commenced pre -production mining in early June and has stacked more than
1.4 million tonnes of ore on the leach pad to date. Commissioning of the plant is in the final stages and irrigation
of the leach pad commenced on September 16, 2020. Loaded carbon from Castle Mountain will be processed in
the carbon stripping and smelting plant at the Company’s Mesquite Mine, 200 miles south in California, resulting
in increased operating efficiencies for both mines.
Christian Milau, CEO of Equinox Gold, commented: “Castle Mountain will be Equinox Gold’s seventh producing
gold mine in the Americas and our second operating mine in California. We expect Castle Mountain to be a long-
life flagship asset for Equinox Gold, bringing significant bene fits to our workforce, shareholders, local
communities and San Bernardino County.”
The 100%- owned Castle Mountain Phase 1 mine is a fully permitted, run-of-mine heap leach operation
processing around 12,700 ore tonnes per day. Phase 1 is expected to produce on average 45,000 ounces of gold
annually. The Company is completing a feasibility study for the potential Phase 2 expansion, which is expected
to average 200,000 ounces of gold annually. The Phase 2 feasibility study is targeted for completion in Q4-2020.
About Equinox Gold
Equinox Gold is a Canadian mining company with seven operating gold mines 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 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]
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Figure 1 - Castle Mountain Phase 1 heap leach pad (background) and processing facility (foreground)
Figure 2 - Mining ore from the open pit
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Figure 3 - Stacking ore on leach pad
Figure 4 - New carbon-in-columns plant
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Figure 5 - Barren and pregnant solution tanks and containment area
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 financi al information. Forward- looking statements and
forward-looking information in this news release relate to, among other things the potential for a Phase 2 expansion at
Castle Mountain, the strategic vision for the Company and expectations regarding the Company’s growth potential .
Forward-looking statements or information generally identified by the use of the words “will ”, “ will be ”, “ expected”,
“expect”, “targeted”, “clear path” , “potential ”, and similar expressions and phrases or statements that certain actions,
events or results “may”, “could”, “should”, “will be taken” or “be achieved”, or the negative connotation of such terms, are
intended to identify forward- looking statements and info rmation. 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 ex pectations will prove to be correct. The
Company has based these forward -looking statements and information on the Company’s current expectations and
projections about future events and these assumptions include: the Company’s ability to continue operating its mines as
expected, to resolve the blockade at Los Filos and to achieve its production and cash flow projections; prices for gold
remaining as estimated; development and expansion programs at Los Filos, Castle Mountain and Santa Luz being completed
and performed in accordance with current expectations; currency exchange rates remaining as estimated; availability of
funds for the Company’s operations, development and growth plans ; the results of exploration programs; prices for energy
inputs, labour, mat erials, supplies and services; no labour -related disruptions and no unplanned delays or interruptions in
scheduled development and production, including by blockade; all necessary permits, licenses and regulatory approvals
being received in a timely manner ; and the Company’s ability to comply with environmental, health and safety laws. The
Company’s exploration, development , operating and growth plans do not account for any possible adverse effects of the
COVID-19 pandemic to the Company’s business and results of operations. 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
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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 regul ations; legal regulations and restrictions
relating to mining and development activities including those imposed in connection with COVID -19; risks relating to
expropriation; increased competition in the mining industry; and those factors identified in the Company’s MD&A dated
February 28, 2020 for the year -ended December 31, 2019 and its Annual Information Form dated May 1 3, 2020, 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 and does not intend
to update or 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 the Company updates any one or more forward-
looking statements, no inference should be drawn that the Company will make additional updates w ith 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.