Equinox Gold Corp. · AMEX:EQX
Equinox Gold — Investor Presentation (November 2023)
32 slides from Equinox Gold's investor presentation, November 2023
Slide 1: Creating the Premier Americas Gold Producer
equinoxgold.com Creating the Premier Americas Gold Producer CORPORATE PRESENTATION November 2023
Slide 2: Cautionary Notes
Cautionary Notes Forward-looking Statements. This presentation contains certain forward-looking information and forward-looking prices for energy inputs, labour, materials, supplies and services; fluctuations in currency markets; operational risks statements within the meaning of applicable securiti
Slide 3: Equinox Gold: Creating the Premier Americas Gold Producer
Equinox Gold: Creating the Premier Americas Gold Producer In its first five years Equinox Gold has grown from a single-asset developer to a diversified gold producer with the assets in place to produce more than 1 Moz of gold annually1 2018 2019 2020 2021 2022 20232 25,601 oz 201,017 oz 477,186 oz 6
Slide 4: Diversified Producer: Mines, Countries, New Mine in H1 2024
Diversified Producer: 7 Mines, 4 Countries, 1 New Mine in H1 2024 7 1 3 Producing Mine in Expansion Mines Construction Projects Greenstone (60%) Castle Mountain / Expansion ~17 Moz ~16 Moz Mesquite P&P Gold M&I Gold Reserves Resources1 Los Filos / Expansion Aurizona / Expansion Santa Luz ~590 Koz ~$
Slide 5: Seven Operating Mines: 555,000 - 625,000 oz of Gold in 2023
Seven Operating Mines: 555,000 - 625,000 oz of Gold in 20231 Aurizona, Maranhão, Brazil Mesquite, California, USA 120,000 - 130,000 oz of gold 80,000 - 90,000 oz of gold Fazenda, Bahia, Brazil Castle Mountain, California, USA 60,000 - 65,000 oz of gold 25,000 - 30,000 oz of gold Santa Luz, Bahia, Br
Slide 6: Greenstone: On Budget and On Track for H1 2024 Production
Greenstone: On Budget and On Track for H1 2024 Production ~400,000 oz gold expected per year1,2 14+ year initial mine life 1.27 g/t gold average grade ~5.5 Moz P&P Reserves1 ~2.6 Moz M&I Resources1 1. Average annual production for the first five years, of which 60% is attributable to Equinox Gold. 2
Slide 7: Greenstone: Building one of Canada's Largest Gold Mines
Greenstone: Building one of Canada’s Largest Gold Mines ~400,000 oz gold/year for first five years1, 14+ year mine life • Developed by Equinox Gold (60%) and Orion (40%) • More than 5 Moz1 of gold expected to be produced over initial mine life • Expansion and extension potential from additional depo
Slide 8: Greenstone: On Schedule and On Budget
Greenstone: On Schedule and On Budget Progress at September 30, 2023 • Overall project 93% complete • Construction 92% complete • Procurement 90% complete • Mechanical 92% complete • Piping 88% complete • Electrical 83% complete • Structural steel and concrete substantially complete • Capital spend
Slide 9: Greenstone: Pre-Commissioning Underway
Greenstone: Pre-Commissioning Underway Process Plant Power Plant Tailings Facility Additional Infrastructure • 91% complete • Complete • 94% complete • Truck shop, warehouse, • Both ball mills • Natural gas pipeline to • South portion complete water treatment plants, mechanically complete site commi
Slide 10: Greenstone: Key Milestones to H1 2024 Gold Pour
Greenstone: Key Milestones to H1 2024 Gold Pour Q3 2023 Q4 2023 H1 2024 Highway 11 open to traffic • Mechanical, piping and • Hot commissioning with ore Power plant complete electrical installation complete and reagents in system Process plant 91% complete • Commence process plant • First gold
Slide 11: Organic Growth: Expansion Projects
Organic Growth: Expansion Projects Castle Mountain Mine, California, USA Increase mining to stack over 45,000 t/d on heap leach pads Permitting underway, application submitted in March 2022 ~218,000 oz/year expected average annual production, 14-year mine life1 Aurizona Mine, Maranhão, Brazil Mining
Slide 12: Peer-leading Growth Profile: Organic Growth from Existing Assets
Peer-leading Growth Profile: Organic Growth from Existing Assets P/NAV1 (x) 2025E Production1 (Moz Au) 2022E - 2025E Prod. Growth1 (%) Total Reserves1,2 (Moz Au) Alamos 1.22x Northern Star 1.9 Equinox Gold Equinox 60% Northern Star 20.2 Evolution 1.13x Endeavour 1.4 New Gold 57% Equinox Gold Equinox
Slide 13: Investing in Growth: Assets in Place for 1+ Moz Annual Production
Investing in Growth: Assets in Place for 1+ Moz Annual Production Potential for ~575 Koz incremental growth1 Revaluation potential with growth2 • Enhanced scale and diversity with Greenstone • Increased production, higher cash flow, lower costs • Catalyst rich investment plans • Enhanced diversifica
Slide 14: Financial Strength: Well Funded to Deliver Growth
Financial Strength: Well Funded to Deliver Growth1 (info at Sept 30, 2023) Cash 2 Debt 3 Investments 6 Resilience Unrestricted cash Drawn debt Equity investments $75 M available through ~$357 M $700 M 4 ~$110 M ATM facility pursuant to $500 M base shelf Ongoing cash flow Accordion available prospect
Slide 15: ESG 2022 Performance: Committed to Responsible and Ethical Mining
ESG 2022 Performance: Committed to Responsible and Ethical Mining Target to achieve 25% reduction in GHG emissions by 2030 ENVIRONMENT SOCIAL GOVERNANCE • Beat 2022 environmental • Beat 2022 health and safety • Expanded ESG disclosure incident target by 61%1 target by 36%2 and performance metrics •
Slide 16: Aligned with Investors: Peer-leading Insider Ownership
Aligned with Investors: Peer-leading Insider Ownership 8.2% 1.4% Insider Ownership2 Ross Beaty Equinox Gold Other Insiders Endeavour Mining 18.1% Shareholders1 12% High Net Worth Equinox Gold Equinox 8.6% 12% Retail/Other Evolution 1.1% 65% Corporate B2Gold 0.9% 3% Institutional Eldorado 0.8% SSR Mi
Slide 17: Equinox Gold: Creating the Premier Americas Gold Producer
Equinox Gold: Creating the Premier Americas Gold Producer USA Canada ~4.6 Moz Reserves ~3.3 Moz Reserves3 ~115 Koz annual production1 ~240 Koz annual production3 ~300 Koz with expansion2 First production in H1 20241 Mexico Brazil ~5.4 Moz Reserves ~3.6 Moz Reserves ~170 Koz annual production1 ~310 K
Slide 18: Appendix
Appendix 18
Slide 19: Equinox Gold: Corporate Summary
Equinox Gold: Corporate Summary Common Shares 1 313.0 M Avg. Daily Shares Traded 5 TSX: 1.3 M + NYSE-A: 2.2 M Options @ avg. C$5.62 1,2 1.2 M Cash (at September 30, 2023) 6 ~ US$357 M Restricted Share Units 3 6.9 M Net Debt (at September 30, 2023) 7 ~ US$730 M Potential Shares from Convertible Notes
Slide 20: 2023 Plan: Production and Cost Guidance
2023 Plan: Production and Cost Guidance Sustaining Growth Production Cash Costs1,2 AISC1,2 Expenditure Expenditure (ounces) ($/ounce) ($/ounce) 70,000 ounces more ($M)1,2 ($M)2 than normalized Mesquite 80,000-90,000 $1,345-$1,410 $1,415-$1,480 $5 $16 2022 production6 Castle Mountain 25,000-30,000 $1
Slide 21: Greenstone: Near-Mine & Belt-Scale Exploration Potential
Greenstone: Near-Mine & Belt-Scale Exploration Potential Belt-scale potential Near-mine potential 1 10km 1 Hosts the unexploited Kailey Deposit) 1. Northern Empire, Sand River and Greenstone Satellite Mineral Resource Estimate Leitch held 100% by Equinox Gold. (Exclusive of Mineral Reserves) (100% b
Slide 22: Bahia: District-scale Potential Between Fazenda – Santa Luz Mines
Bahia: District-scale Potential Between Fazenda – Santa Luz Mines 22
Slide 23: Aurizona: Advancing an Underground Expansion
Aurizona: Advancing an Underground Expansion1 Extend mine life and increase production by mining underground deposit and satellite open-pit deposits concurrently with existing open pit Permits in place for three portal locations Advancing feasibility study Starting portal development in H1 2024 1. S
Slide 24: Aurizona: Mine Life Extension Along Strike
Aurizona: Mine Life Extension Along Strike Numerous PIABA NORTH TREND deposits within Tatajuba grades similar GENIPAPO MESTRE trucking distance or higher than Piaba: CHICO of existing plant • 13.74 g/t Au/ 35 m • 2.71 g/t Au/ 56 m PIABA and surface • 2.47 g/t Au/ 69 m MICOTE infrastructure • 1.42 g/
Slide 25: Aurizona: District-scale Potential on EQX Land Package
Aurizona: District-scale Potential on EQX Land Package Numerous regional targets within ~1,100 km2 land package 25
Slide 26: Castle Mountain: Easy Site Access, Synergies with Mesquite Mine
Castle Mountain: Easy Site Access, Synergies with Mesquite Mine Phase 2 expansion will be contained Castle within existing Mountain approved mine boundary Mesquite 26
Slide 27: Non-core Assets: Bringing Value to Equinox Gold
Non-core Assets: Bringing Value to Equinox Gold Divest: Mercedes & Pilar Launch: Solaris Create: i-80 Gold Create: Sandbox Royalties Sold non-core assets Spin-out to shareholders Spinco from Premier acquisition Spin-out non-core royalties ~$175 M (Total value) $720 M (Current market cap) $520 M (Cur
Slide 28: Equinox Gold: Proven & Probable Mineral Reserves
Equinox Gold: Proven & Probable Mineral Reserves1 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) Mesquite 34 0.79 1 30,264 0.48 470 30,298 0.48 471 Castle Mountain 8
Slide 29: Equinox Gold: Measured & Indicated Mineral Resources
Equinox Gold: Measured & Indicated Mineral Resources1,2 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) Mesquite 81 0.77 2 104,910 0.41 1,382 104,991 0.41 1,384 Castle
Slide 30: Equinox Gold: Inferred Mineral Resources
Equinox Gold: Inferred Mineral Resources1 Contained Gold Mine Tonnes (kt) Grade (g/t) (koz) Mesquite 84,030 0.34 912 Castle Mountain 69,890 0.63 1,422 Los Filos 135,935 0.74 3,237 Aurizona 12,689 2.19 895 Fazenda 3,283 1.50 158 RDM 3,614 1.95 226 Santa Luz 7,254 2.09 490 2 Greenstone 14,969 3.83 1,8
Slide 31: Equinox Gold: Technical Disclosure
Equinox Gold: 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 Hasaga Property is summarized, derived, or extracted extracted from the “Updated Tec
Slide 32: ir@equinoxgold.com www.equinoxgold.com
+1 604.558.0560 ir@equinoxgold.com www.equinoxgold.com 32 TSX: EQX | NYSE-A: EQX