Equinox Gold Corp. · AMEX:EQX
Equinox Gold — Investor Presentation (September 2021)
26 slides from Equinox Gold's investor presentation, Sep 20, 2021
Slide 1: The Premier Americas Gold Producer
equinoxgold.com The Premier Americas Gold Producer CORPORATE PRESENTATION September 20, 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 4 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 Aurizona Los Filos / Expansion Santa Luz ~600 Koz ~$530 M Gold Production Total Liquidity4 in 20
Slide 4: Operating Mines: USA
Operating Mines: USA Mesquite Mine, California • 2021 guidance: 130,000-140,000 oz • Exploration focused on mine life extension Castle Mountain, California • 2021 guidance: 20,000-30,000 oz for Phase 1 operations • Permitting Phase 2 expansion to +200,000 oz/year 4
Slide 5: Operating Mines: Mexico
Operating Mines: Mexico Los Filos Mine, Guerrero • 2021 guidance: 120,000-140,000 oz • Mining new Guadalupe open-pit and Bermejal underground deposits Mercedes Mine, Sonora • 2021 guidance: 30,000-35,000 oz1 • Potential to increase throughput and production 1. Production attributable to Equinox Gold
Slide 6: Operating Mines: Brazil
Operating Mines: Brazil Aurizona Mine, Maranhão • 2021 guidance: 130,000-140,000 oz • Mine life extension and expansion potential from additional open-pit and underground deposits Fazenda Mine, Bahia • 2021 guidance: 60,000-65,000 oz • Exploration for mine life extension and resource growth, regiona
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 • $21 M sustaining capex • Average 110,500 oz/year gold production for first five years
Slide 8: Greenstone Project: Early Works Activities Underway
Greenstone Project: Early Works Activities Underway Greenstone is one of the most attractive development assets in Canada1 • 5.5 Moz in reserves with significant exploration upside1 • Average 414,000 oz/year gold production for first five years • Average 358,000 oz/year over initial 14-year mine lif
Slide 9: Expansion Projects: Additional ~300,000 oz/year
Expansion Projects: Additional ~300,000 oz/year Los Filos, Mexico • Mining new open-pit and underground mines • Finalizing study for new carbon-in-leach plant for high-grade ore • Potential to increase production to ~350,000 oz per year1 Castle Mountain, California, USA • Average 218,000 oz gold/yea
Slide 10: 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 11: 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 4.7 Moz Reserves 2.9 Moz Reserves ~220 Koz annual product
Slide 12: 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 August 31, 2021. Source: Thomson One Analytics, FactSet, BMO. 2
Slide 13: Funded to Execute on Growth
Funded to Execute on Growth Operating Cash1 Bank Debt3 Cash Flow4 Strong balance sheet and cash Unrestricted cash Term loan FY 2020 operating flow funds cash flow ~$330 M $100 M drawn growth $217 M Corporate revolver H1 2021 operating Available liquidity cash flow $200 M drawn ~$530 M2 $120 M $200 M
Slide 14: Peer-leading Insider Ownership
Peer-leading Insider Ownership Insider Ownership2 Endeavour Mining 20.2% 8% 0.5% EquinoxEquinox Gold 8.5% Equinox Gold Ross Beaty Northern Star 1.4% Shareholders1 13% Other Insiders B2Gold 1.3% High Net Worth 50% Evolution 1.0% Retail/Other IAMGOLD 0.8% 23% Corporate Torex 0.5% Institutional Yamana
Slide 15: 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 Santa Luz construction production growth • Commen
Slide 16: Appendix
Appendix 16
Slide 17: Equinox Gold: Corporate Summary
Equinox Gold: Corporate Summary Common Shares 1 300.4 M Fully Diluted Shares 4 368.8 M Listed Warrants @ C$15.00 2 16.0 M Avg. Daily Trading Value 5 ~ C$20 M + US$14 M Unlisted Warrants @ avg C$9.28 1,2 1.7 M Cash / Net Debt 6 ~ $334 M / $215 M Options @ avg C$7.65 1,2 4.0 M Convertible Notes @ avg.
Slide 18: Q2 2021 Results & Recent Developments
Q2 2021 Results & Recent Developments 3 LTI’s Santa Luz on track for Q1 2022 gold pour $46 M ACROSS ALL SITES IN Q21 MINE OPERATING EARNINGS Greenstone preparing for 122,656 oz full-scale construction $334 M GOLD PRODUCED CASH AND EQUIVALENTS4 Exploration for reserve growth and mine life extension $
Slide 19: Updated 2021 Guidance
Updated 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
Slide 20: Potential for Revaluation as Production Increases
Potential for Revaluation as Production Increases The market rewards scale and diversification Peer-leading growth profile1 • Less risk and broader investment appetite • Enhanced scale and diversity with Premier 1.1x acquisition • Overhead costs lower on a per ounce basis • Year-on-year production g
Slide 21: Exploration to Support Operating Mines, Develop New Districts
Exploration to Support Operating Mines, Develop New Districts Mesquite, California, USA • Exploration in 2020 increased Reserves by 28%, M&I Resources by 94% • Exploration focused on reserve and resource growth in Brownie, Vista East and Rainbow deposits Aurizona, Maranhão, Brazil • Exploration in 2
Slide 22: 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 23: 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 24: 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 25: Technical Disclosure
Technical Disclosure National Instrument 43-101 Scientific and technical information concerning the Los Filos Mine Complex is summarized, derived, or summarized, derived, or extracted from the “NI 43-101 Technical Report Mercedes Gold-Silver Mine, extracted from the “Independent Technical Report for
Slide 26: ir@equinoxgold.com www.equinoxgold.com
+1 604.558.0560 ir@equinoxgold.com www.equinoxgold.com 26 TSX: EQX | NYSE-A: EQX
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