VANCOUVER, BC, March 30, 2022 /PRNewswire/ - Equinox Gold
Corp. (TSX: EQX) (NYSE: EQX) ("Equinox Gold" or the "Company")
has poured first gold from the resin and elution circuit at its new
Santa Luz Mine in Brazil.
Santa Luz construction has been completed on time and on budget,
with no lost-time injuries. Commissioning commenced in February 2022 and the mine is expected to ramp up
to commercial production over the next few months. When operating
at capacity, Santa Luz is expected to produce approximately 100,000
ounces of gold annually. During 2022, with a partial year of
production, Santa Luz is expected to produce 70,000 to 90,000
ounces of gold. The mine has expansion potential from underground
development opportunities and several exploration targets within
the greenstone belt that extends between Santa Luz and Fazenda
Mine.
Christian Milau, CEO of Equinox
Gold, commented: "Congratulations to the Santa Luz team and
contractors for achieving this significant milestone. Completing
construction safely, on time and on budget, despite the additional
challenges of the COVID-19 pandemic, is testament to the team's
hard work and dedication to the project. We are also celebrating
Santa Luz's achievement of three million work hours without a
lost-time injury.
"Santa Luz is the second project Equinox Gold has built in
Brazil and our third since
starting the company. With Santa Luz ramping up to full production,
we are focused on constructing our Greenstone project in
Ontario, Canada, with first gold
pour targeted for the first half of 2024."
Equinox Gold is also pleased to announce that plant operations
at the Company's RDM Mine resumed on March
14th, following a temporary suspension on
February 26th to reduce
water levels in the tailings storage facility in compliance with a
Brazilian legislative change declared in February 2022. Mining and stockpiling of ore
continued during the suspension of plant operations.
About Equinox Gold
Equinox Gold is a growth-focused Canadian mining company
operating entirely in the Americas, with eight operating gold mines
(including the Mercedes Mine, which is expected to be sold in
April 2022) and a clear path to
achieve more than one million ounces of annual gold production from
a pipeline of development and expansion projects. Equinox Gold's
common shares are listed on the TSX and the NYSE American under the
trading symbol EQX. Further information about Equinox Gold's
portfolio of assets and long-term growth strategy is available at
www.equinoxgold.com or by email at ir@equinoxgold.com.
Cautionary Notes and Forward-looking
Statements
This news release contains certain forward-looking
information and forward-looking statements within the meaning of
applicable securities legislation. Forward-looking statements and
forward-looking information in this news release relate to, among
other things: the strategic vision for the Company and expectations
regarding exploration potential, production capabilities and future
development of Santa Luz; the Company's ability to successfully
advance its growth and development projects, including ramping
Santa Luz up to full capacity and advancing Greenstone
construction; and completing of the sale of the Mercedes Mine.
Forward-looking statements or information generally identified by
the use of the words "expected", "potential", "clear path",
"opportunities", "targeted", "strategy" and similar expressions and
phrases or statements that certain actions, events or results
"could", "would" or "should", or the negative connotation of such
terms, are intended to identify forward-looking statements and
information. Although the Company believes that the expectations
reflected in such forward-looking statements and information are
reasonable, undue reliance should not be placed on forward-looking
statements since the Company can give no assurance that such
expectations will prove to be correct. The Company has based these
forward-looking statements and information on the Company's current
expectations and projections about future events and these
assumptions include: Equinox Gold's ability to achieve the
production, cost and development expectations for Santa Luz and its
other operations and projects; prices for gold remaining as
estimated; currency exchange rates remaining as estimated; ramp-up
at Santa Luz and construction at Greenstone being completed and
performed in accordance with current expectations; tonnage of ore
to be mined and processed; ore grades and recoveries; availability
of funds for the Company's projects and future cash requirements;
capital, decommissioning and reclamation estimates; Mineral Reserve
and Mineral Resource estimates and the assumptions on which they
are based; prices for energy inputs, labour, materials, supplies
and services; no labour-related disruptions and no unplanned delays
or interruptions in scheduled construction, development and
production, including by blockade; the Company's working history
with its workforce, unions and communities; that all necessary
permits, licenses and regulatory approvals are received in a timely
manner; the Company's ability to comply with environmental, health
and safety laws; and the consummation and timing of the Mercedes
sale. While the Company considers these assumptions to be
reasonable based on information currently available, they may prove
to be incorrect. Accordingly, readers are cautioned not to put
undue reliance on the forward-looking statements or information
contained in this news release.
The Company cautions that forward-looking statements and
information involve known and unknown risks, uncertainties and
other factors that may cause actual results and developments to
differ materially from those expressed or implied by such
forward-looking statements and information contained in this news
release and the Company has made assumptions and estimates based on
or related to many of these factors. Such factors include, without
limitation: fluctuations in gold prices; fluctuations in prices for
energy inputs, labour, materials, supplies and services;
fluctuations in currency markets; operational risks and hazards
inherent with the business of mining (including environmental
accidents and hazards, industrial accidents, equipment breakdown,
unusual or unexpected geological or structural formations,
cave-ins, flooding and severe weather); inadequate insurance, or
inability to obtain insurance to cover these risks and hazards;
employee relations; relationships with, and claims by, local
communities and Indigenous populations; the Company's ability to
obtain all necessary permits, licenses and regulatory approvals in
a timely manner or at all; changes in laws, regulations and
government practices, including environmental, export and import
laws and regulations; legal restrictions relating to mining; risks
relating to expropriation; increased competition in the mining
industry; a successful relationship between the Company and Orion
Mine Finance Group; and those factors identified in the Company's
MD&A dated March 23, 2022 for the
year ended December 31, 2021, and its
Annual Information Form dated March 24,
2022 for the year-ended December 31,
2021, both of which are available on SEDAR at www.sedar.com
and on EDGAR at www.sec.gov/edgar. Forward-looking statements and
information are designed to help readers understand management's
views as of that time with respect to future events and speak only
as of the date they are made. Except as required by applicable law,
the Company assumes no obligation to publicly announce the results
of any change to any forward-looking statement or information
contained or incorporated by reference to reflect actual results,
future events or developments, changes in assumptions or changes in
other factors affecting the forward-looking statements and
information. If the Company updates any one or more forward-looking
statements, no inference should be drawn that the Company will make
additional updates with respect to those or other forward-looking
statements. All forward-looking statements and information
contained in this news release are expressly qualified in their
entirety by this cautionary statement.
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SOURCE Equinox Gold Corp.