CASTLE MOUNTAIN PHASE 1

Castle Mountain is in production!

Castle Mountain construction was completed on budget with no lost-time incidents, first gold was poured on October 15, 2020 and commercial production was announced on November 23, 2020. Loaded carbon from Castle Mountain is 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.

PREFEASIBILITY RESULTS

On July 16, 2018, Equinox Gold released the results of a prefeasibility study for the Castle Mountain Gold Mine in California, USA. The prefeasibility contemplates developing the project in a phased ramp-up scenario. Phase 1 would be developed as an open-pit run-of-mine (“ROM”) heap leach mine leaching stockpile material from previous operations. Phase 2 would include milling of a limited stream of higher-grade material and ROM leaching of the balance. With 3.6 million oz of gold reserves, Castle Mountain would be a robust, low-cost gold mine producing 2.8 million ounces of gold over a 16-year mine life.

Download the Prefeasibility Study Technical Report, or download the slide deck discussing the results.

2018 PREFEASIBILITY STUDY HIGHLIGHTS (US$)

CONSTRUCTION IS COMPLETE!

And Castle Mountain is in production! Equinox Gold announced on September 17, 2020 that construction of the Phase 1 mine at its Castle Mountain Gold Mine in California was complete and irrigation of the leach pad was underway. First gold was poured on October 15, 2020 and commercial production was announced on November 23, 2020.

Castle Mountain is a past-producing heap leach gold mine with a history of successful operations and excellent social and environmental performance. Equinox Gold acquired the mine in late 2017 through the acquisition of NewCastle Gold. Equinox Gold completed a prefeasibility study for the project in July 2018, outlining the economics of recommencing production in a two-phase strategy, starting at approximately 40,000 oz per year in Phase 1 and ramping up to more than 200,000 oz per year in Phase 2.

Construction was completed with no lost-time incidents. Equinox Gold commenced pre-production mining in early June and had stacked more than 1.4 million tonnes of ore on the leach pad at September 17, 2020. Loaded carbon from Castle Mountain is 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

KEY FACTS *