EQX · Equinox Gold Corp.

Equinox Gold released updated technical reports for its Greenstone Gold Mine in Ontario and Valentine Gold Mine in Newfoundland & Labrador, both in Canada, alongside year-end 2025 Mineral Reserves and Resources statements. These updates position the Canadian operations as a key growth driver, with combined average annual gold production of 543,000 ounces over the next decade (2026-2036) based solely on Proven and Probable Reserves totaling 8.1 million ounces. Greenstone is ramping up to nameplate 27,000 tpd throughput, delivering 320,000 oz annually at 87.5% recovery and 1.16 g/t feed grade, supported by 5.3 Moz open pit Reserves. Opportunities include mill expansion to 30,000 tpd, underground resources (1.6 Moz M&I, 1.2 Moz Inferred not in mine plan), and regional targets like Kailey, Key Lake, and Brookbank adding 1.1 Moz Indicated Resources. Valentine targets Phase 2 completion in H2 2028, doubling throughput to 5.0 Mtpa for 223,000 oz annual production over 10 years, with 2.7 Moz Reserves, $414 million capex (including 20% contingency), and strong economics of $3.1 billion after-tax NPV5 at $4,500/oz gold and $4.3 billion LOM net cash flow. Frank Zone drilling (25,000m planned) could add a fourth pit. Company-wide, Reserves stand at 19 Moz, with significant exploration upside backed by $70-80 million 2026 budget. Reports available on SEDAR+, EDGAR, and company website.