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Thursday, 01/13/2022 3:58:17 PM

Thursday, January 13, 2022 3:58:17 PM

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VANCOUVER, BC, Jan. 13, 2022 /CNW/ - Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) ("Equinox Gold" or the "Company") is pleased to announce record production in Q4 2021 of 210,400 ounces ("oz") of gold. Equinox Gold achieved fiscal 2021 guidance with 602,100 oz of gold produced, a 26% increase over 2020 production. Full financial and operating results will be reported in late February.

Christian Milau, CEO of Equinox Gold commented: "Equinox Gold had a strong fourth quarter. Outstanding performance at Mesquite and Aurizona was supported by a full quarter of operations at Los Filos and consistent performance at our other mines. During the quarter we commenced construction at our Greenstone project in Ontario, Canada and made significant construction progress at Santa Luz in Brazil. These new mines will produce more than 400,000 ounces (of which 60% is attributable to Equinox Gold) and 100,000 ounces of gold annually, respectively. We drew no additional debt during 2021 and also announced the sale of our Mercedes Mine, an agreement that will further strengthen both our balance sheet and investment portfolio.

"During 2021, Equinox Gold produced its millionth ounce of gold as a company and realized over $1 billion in revenue. In addition to strong cash flow from our operating mines, Equinox Gold has more than $300 million in cash, $200 million available to draw on our revolving credit facility, expected proceeds from the Mercedes sale and an investment portfolio worth approximately $450 million at current market prices. Equinox Gold is in a strong position to deliver on our ambitious growth strategy in 2022, including commencing production at our new Santa Luz mine, advancing construction at Greenstone and conducting exploration programs across our operations."

The Company's Los Filos mine outperformed expectations and exceeded the top end of guidance following five months of consistent operations in H2 2021 and the commencement of mining the new Guadalupe and Bermejal deposits. The Mesquite and Aurizona mines had strong fourth quarters, with 66,900 and 41,300 ounces of production, respectively, underpinning total Q4 2021 production of 210,400 oz of gold.

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