CASTLE MOUNTAIN GUIDANCE 2022 25-35K OZ 2022-01-25

Castle Mountain Gold Mine, USA Castle Mountain production for 2022 is estimated at 25,000 to 35,000 ounces of gold with cash costs of $1,150 to $1,200 per ounce and AISC of $1,475 to $1,525 per ounce sold. Costs at Castle Mountain will increase primarily as the result of the decision to crush and agglomerate ore to increase ore permeability and gold production. AISC for 2022 includes $11 million of sustaining capital, with $3 million allocated for plant modifications and $7 million for the current leach pad expansion that will accommodate the entirety of Phase 1 operations. In 2021 Equinox Gold completed a feasibility study for a proposed Phase 2 expansion of Castle Mountain that is expected to increase average production to more than 200,000 ounces of gold annually. Non-sustaining growth capital of $9 million at Castle Mountain in 2022 includes $7 million for Phase 2 permitting, optimization studies and metallurgical test work, and nearly $2 million for exploration. The Company expects to submit Phase 2 permit applications in Q1 2022.