Production Guidance Of 625,000 To 710,000 Ounces Of Gold Reported By Equinox

VANCOUVER - Equinox Gold Corp. reported 2022 production guidance of 625,000 to 710,000 ounces of gold, increasing from 2021 production of 602,100 ounces of gold. Guidance does not include production from the Mercedes Mine as the previously announced sale is expected to close around the end of the first quarter of 2022.

Christian Milau, CEO, said, "Our 2022 guidance represents the fourth consecutive year of production growth at Equinox Gold and includes production that will come from our new Santa Luz mine in Brazil, which has commenced commissioning. Production is forecast to increase quarter over quarter, with 60% of gold production and more than 85% of operating cash flow anticipated in the second half of the year. We continue to advance toward becoming a million-ounce producer by investing in our producing assets and bringing new mines to production. Our 2022 cost estimates reflect $195 million of sustaining capital investment in our mines as well as inflationary pressures occurring industry-wide, including significant increases to fuel and other consumables. Our key focus for 2022 is construction at our Greenstone project in Ontario, with a budget of $326 million for construction capital."

The Company is undertaking several growth projects during 2022 including completing construction and commissioning of the Santa Luz mine, advancing construction of the Greenstone project, and conducting exploration focused on mine life extension at Mesquite, Aurizona, Fazenda, Santa Luz and RDM. Non-sustaining capital also includes underground development at Los Filos in part carried over from 2021, a pit expansion at RDM and permitting for the Castle Mountain expansion.