Equinox Gold Corp. · AMEX:EQX
Equinox Gold — Investor Presentation (November 2021)
24 slides from Equinox Gold's investor presentation, November 2021
Slide 1: The Premier Americas Gold Producer
equinoxgold.com The Premier Americas Gold Producer CORPORATE PRESENTATION November 2021 1
Slide 2: Cautionary Notes
Cautionary Notes Forward-looking Statements. This presentation contains certain forward-looking information and forward-looking Forward-looking statements and information are designed to help readers understand management’s views as of that time statements within the meaning of applicable securities
Slide 3: Equinox Gold: The Premier Americas Gold Producer
Equinox Gold: The Premier Americas Gold Producer 7 5 Producing Growth Mines Projects Greenstone (60%) Castle Mountain / Expansion 16.4 Moz 30.3 Moz Mesquite P&P Gold M&I Gold Reserves Resources1 Mercedes ~600 Koz ~$500 M Aurizona Santa Luz Los Filos / Expansion Gold Production Total Liquidity4 in 20
Slide 4: Operating Mines: USA
Operating Mines: USA Mesquite Mine, California • 2021 guidance: On track to achieve 130,000-140,000 oz • Exploration success has increased resources, replaced reserves, extended mine life Castle Mountain, California • 2021 guidance: On track to achieve 20,000-30,000 oz • Permitting Phase 2 expansion
Slide 5: Operating Mines: Mexico
Operating Mines: Mexico Los Filos Mine, Guerrero • 2021 guidance: On track to achieve 120,000-140,000 oz • Mining new Guadalupe open-pit and Bermejal underground deposits • Advancing expansion projects to ~350,000 oz/year Mercedes Mine, Sonora • 2021 guidance: On track to achieve 30,000-35,000 oz1 •
Slide 6: Operating Mines: Brazil
Operating Mines: Brazil Aurizona Mine, Maranhão • 2021 guidance: On track to achieve 130,000-140,000 oz • Mine life extension and expansion potential from additional open-pit and underground deposits Fazenda Mine, Bahia • 2021 guidance: On track to achieve 60,000-65,000 oz • Exploration success for
Slide 7: Santa Luz Project: First Gold Pour on Track for Q1 2022
Santa Luz Project: First Gold Pour on Track for Q1 2022 Construction on budget and on schedule • Past producing mine: refurbishing existing infrastructure and retrofitting processing plant • $103 M initial capex - $51 M spent, $84 M committed to end of Q3 • Average 110,500 oz/year gold production fo
Slide 8: Greenstone Project: Ramping up to Full-scale Construction
Greenstone Project: Ramping up to Full-scale Construction Building one of the largest gold mines in Canada1 • Developed by Equinox Gold (60%) and Orion (40%) • 5.5 Moz gold reserves with significant exploration upside • Conventional open-pit mining and carbon-in-leach plant • More than 5 Moz gold pr
Slide 9: Greenstone Project: Early Works Progress
Greenstone Project: Early Works Progress Development well advanced • Project leadership team in place • Security, medical services on site • Engineering 85% complete • Phase 1 road building and tree clearing complete • Temporary workforce camp open • Temporary water effluent treatment plant operatio
Slide 10: Greenstone Project Highlights (100% basis)
Greenstone Project Highlights (100% basis)1 Substantial gold resource Average annual gold production Long-life low-cost mine 5.5 Moz P&P Reserves >400 koz first five years 5.1 Moz life-of-mine production 7.1 Moz M&I Resource (inclusive) >360 koz life of mine <$700/oz average AISC Construction costs2
Slide 11: Funded to Execute on Growth
Funded to Execute on Growth Operating Cash1 Bank Debt3 Cash Flow5 Strong balance sheet and cash Unrestricted cash Term loan4 FY 2020 operating flow funds cash flow ~$300 M ~$93 M drawn growth $256 M Corporate revolver Q1-Q3 2021 operating Available liquidity cash flow $200 M drawn ~$500 M2 $165 M $2
Slide 12: Committed to Responsible and Ethical Mining
Committed to Responsible and Ethical Mining ESG data published quarterly at www.EquinoxGold.com ENVIRONMENT COMMUNITIES SAFETY HEALTH Achieved all 2020 More than 40 All 2020 safety targets More than 18,000 COVID-19 environmental targets, no communities directly met, 25% better than tests performed,
Slide 13: Peer-leading Insider Ownership
Peer-leading Insider Ownership Insider Ownership2 Endeavour Mining 20.2% 8% 0.5% Equinox Gold Equinox 8.5% Equinox Gold Ross Beaty Northern Star 1.4% Shareholders1 13% Other Insiders B2Gold 1.3% High Net Worth Evolution 1.0% 53% Retail/Other IAMGOLD 0.8% 20% Corporate Torex 0.5% Institutional Yamana
Slide 14: Peer-leading Growth Profile
Peer-leading Growth Profile P/NAV1 (x) 2024E Production1 (Moz Au) 2021E - 2024E Prod. Growth1 (%) Total Reserves2 (Moz Au) Equinox Gold Equinox Gold Equinox Gold Equinox Gold 1. Based on analyst consensus estimates and market data as at October 31, 2021. Source: Thomson One Analytics, FactSet, BMO.
Slide 15: Diversified Asset Portfolio Across Four Countries
Diversified Asset Portfolio Across Four Countries Canada USA 5.5 Moz Reserves (60% attributable to EQX) ~240 Koz annual production1,2 4.6 Moz Reserves First production in 2024 ~170 Koz annual production >300 Koz with expansions1 Mexico Brazil 4.8 Moz Reserves 3.6 Moz Reserves ~220 Koz annual product
Slide 16: 2021 Catalysts: Investing for Growth
2021 Catalysts: Investing for Growth Operations & • Produce 560,000-625,000 oz of gold at $1,300-$1,375 per oz AISC Development Complete Castle Mountain expansion feasibility study Advance Los Filos expansion projects More than 600 koz Complete Aurizona expansion pre-feasibility study producti
Slide 17: Appendix
Appendix 17
Slide 18: Equinox Gold: Corporate Summary
Equinox Gold: Corporate Summary Common Shares 1 300.6 M Avg. Daily Trading Value 5 ~ C$18 M + US$13 M Unlisted Warrants @ avg. C$8.69 1,2 2.0 M Cash 6 ~ US$300 M Options @ avg. C$7.09 1,2 3.7 M Net Debt 6 ~ US$245 M Restricted Share Units 3 2.4 M Convertible Notes @ avg. US$6.52 7 US$278.9 M Fully D
Slide 19: 2021 Guidance
2021 Guidance Non- Production Cash Costs1 AISC1,2 Sustaining sustaining (ounces) ($/ounce) ($/ounce) Capital1 Capital1 Mesquite 130,000 - 140,000 $975 - 1,025 $1,375 - 1,425 $49 M $9 M Guidance updated Castle Mountain 20,000 - 30,000 $800 - 850 $1,590 - 1,640 $18 M $10 M to reflect solid Los Filos 1
Slide 20: Equinox Gold: Proven & Probable Mineral Reserves
Equinox Gold: Proven & Probable Mineral Reserves Proven Probable Proven & Probable Mine/Project Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained (kt) (g/t) gold (koz) (kt) (g/t) gold (koz) (kt) (g/t) gold (koz) Aurizona 16,581 1.39 740 15,749 1.82 920 32,330 1.60 1,660 Castle Mou
Slide 21: Equinox Gold: Measured & Indicated Mineral Resources
Equinox Gold: Measured & Indicated Mineral Resources1 Measured Indicated Measured & Indicated Mine Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained (kt) (g/t) gold (koz) (kt) (g/t) gold (koz) (kt) (g/t) gold (koz) Aurizona 19,849 1.40 892 29,994 1.86 1,797 49,844 1.67 2,689 Castl
Slide 22: Equinox Gold: Inferred Mineral Resources
Equinox Gold: Inferred Mineral Resources Contained Gold Mine Tonnes (kt) Grade (g/t) (koz) Aurizona 13,067 2.18 915 Castle Mountain 86,271 0.58 1,608 Mesquite 85,419 0.34 928 Los Filos 98,204 0.83 2,633 RDM 3,614 1.94 226 Fazenda 3,296 1.51 160 Santa Luz 7,265 2.07 483 1 Greenstone 15,300 3.78 1,857
Slide 23: Technical Disclosure
Technical Disclosure National Instrument 43-101 Scientific and technical information concerning the Los Filos Mine Complex is summarized, derived, or Scientific and technical information concerning the Mercedes Mine is summarized, derived, or extracted extracted from the “Independent Technical Repor
Slide 24: ir@equinoxgold.com www.equinoxgold.com
+1 604.558.0560 ir@equinoxgold.com www.equinoxgold.com 24 TSX: EQX | NYSE-A: EQX