Equinox Gold : May 1, 2025 – AGM & Corporate Update from Ross Beaty
EQX
Published on 05/02/2025 at 16:06
Creating the Premier Americas Gold Producer
CORPORATE UPDATE
MAY 1, 2025
2018 2019 2020 2021 2022 2023 2024 20251
25,601 oz
201,017 oz
477,186 oz
602,110 oz
532,319 oz
564,458 oz
621,893 oz
~700,000 oz
CONSOLIDATED
Mesquite Mine Leagold Mining Premier Gold Mines Calibre Mining2
CREATED
Solaris Resources Versamet Royalties i-80 Gold
BUILT
Aurizona Mine
Castle Mountain Phase 1 Mine Santa Luz Mine Greenstone Mine
1. Mid-point of Equinox Gold's 2025 guidance, which excludes any production from the Los Filos Mine. 2. The business combination with Calibre Mining is subject to a number of closing conditions as outlined
in Equinox Gold's press released dated February 23, 2025 and in its Management Information Circular dated March 21, 2025. 16
Equinox Producing Mine Calibre Producing Mine
Equinox Expansion / Development Project Calibre Development Project
7
PRODUCING MINES
1
IN CONSTRUCTION
5
EXPANSION / DEVELOPMENT PROJECTS
GOLDEN EAGLE
GREENSTONE
VALENTINE
~23
~22
PAN
GOLD ROCK
IN CONSTRUCTION
Moz
Moz
MESQUITE CASTLE MOUNTAIN EXPANSION
P&P GOLD RESERVES1 M&I GOLD RESOURCES1,2
2025 GUIDANCE3: 950 koz
NICARAGUA
200,000 - 250,000
PAN MINE
30,000 - 40,000
Path to achieve
LOS FILOS
LIMON / LIBERTAD
AURIZONA / EXPANSION
BAHIA
GREENSTONE
300,000 - 350,000
AURIZONA
70,000 - 90,000
BAHIA COMPLEX
125,000 - 145,000 +
MESQUITE + RDM
140,000 - 165,000
WITH GREENSTONE & VALENTINE RAMPED UP
RDM
COMPLEX
1. See Appendix slides, Cautionary Notes and Technical Disclosure. 2. M&I Resources are exclusive of Reserves. See Appendix slides,
Cautionary Notes andTechnical Disclosure. 3. Mid-point of Equinox Gold 2025 guidance plus mid-point of Calibre 2025 guidance.
4. Mid-point of Equinox Gold and Calibre 2025 guidance plus 65 koz with Greenstone at capacity and 200 koz with Valentine at
capacity. Does not include any production from Equinox Gold's Los Filos mine or either company's expansion projects. 17
2024 TARGETS ACCOMPLISHMENTS
Achieve Greenstone production
Greenstone poured first gold on schedule on May 22 Declared commercial production effective October 31
Consolidate Greenstone ownership
Acquired the remaining 40% of Greenstone on May 13
Achieve guidance1 Produced 621,893 oz of gold, sold 623,579 oz for record revenue of $1.5 B Cash costs of $1,598/oz, AISC of $1,870/oz of gold sold
Maintain strong balance sheet, begin deleveraging
Extended convertible notes, sold equity investments, executed gold and FX contracts Ended 2024 with ~$240 M in cash after paying $40 M to Orion in late December
Reduced debt by $180 M with conversion of convertible notes and final payment to Orion2
1. Guidance was updated to reflect the consolidation of the Company's ownership of Greenstone and progress with the Greenstone ramp-up, the suspension of Phase 1 mining at Castle Mountain until Phase 2 permitting is complete, slower-than-expected recoveries at Mesquite, and the geotechnical event at Aurizona. 2.Equinox Gold has a $700 M revolving credit facility, of which $105 M was undrawn at December 31, 2024. The Company also has an undrawn $100 M accordion feature that is subject to lender approval prior to
being available for draw, and a $500 M term loan that was fully drawn at December 31, 2024. Issued 26.7 M shares on conversion of $140 M convertible note at $5.25 per share in October 2024; Paid $40M to Orion in December 2024 as final payment related to 18
Greenstone ownership consolidation that closed in May 2024. See Cautionary Notes.
2024 TARGETS ACCOMPLISHMENTS
Replace reserves, grow resources
Replaced reserves and identified new mineralization for mine life extension
Extended Fazenda mine life from two to nine years with exploration and new mine plan
Advance expansion projects
50%
40%
Aurizona: Advanced technical studies and plans for underground portal development Castle Mountain: Advanced Phase 2 permitting and front-end engineering design
Los Filos: Implemented operational improvements, advanced community dialogue1
2024 Market Performance
Gold EQX GDX
Market Performance
30%
20%
10%
0%
-10%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
-20%
1. In January 2025, following negotiations that began in November 2023 with the three communities that host Los Filos, the Company reached consensus on terms for new agreements with all three communities. Two communities signed new long-term agreements. 19
One community did not sign the long-term agreement and the agreement with that community expired on March 31, 2025. Accordingly, the Company announced on April 1, 2025 that operations at Los Filos will be suspended indefinitely.
Disclaimer
Equinox Gold Corp. published this content on May 01, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 02, 2025 at 20:03 UTC.