VANCOUVER, BC, April 21,
2022 /PRNewswire/ - Equinox Gold Corp.
(TSX: EQX) (NYSE: EQX) ("Equinox Gold" or the "Company") has
completed the sale of its Mercedes Mine in Mexico to Bear Creek Mining Corporation (TSXV:
BCM), as announced on December 17,
2021, for US$75 million, a
deferred cash payment of US$25
million due within six months of the date hereof, a 2% net
smelter return on Mercedes production and 24.73 million shares of
Bear Creek Mining.
Christian Milau, CEO of Equinox
Gold, commented: "I would like to thank the Mercedes team for their
dedication to the mine. As a significant shareholder of Bear Creek
Mining, we look forward to participating in the success of Mercedes
and future development of Bear Creek Mining's Corani
silver-lead-zinc deposit, one of the largest, fully-permitted
silver deposits in the world."
About Equinox Gold
Equinox Gold is a Canadian mining company operating entirely in
the Americas, with seven operating gold mines and a clear path to
achieving 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 anticipated receipt of future cash payments
related to the Mercedes Mine sale and from the net smelter return
on Mercedes production; the Company's equity ownership in Bear
Creek Mining; the future development of Bear Creek Mining's Corani
silver-lead-zinc deposit; and the Company's ability to achieve its
growth and production targets. Forward-looking statements or
information generally identified by the use of the words "clear
path", "success", "future development" 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 its
operations and projects; tonnage of ore to be mined and processed;
ore grades and recoveries; Mineral Reserve and Mineral Resource
estimates and the assumptions on which they are based; and the
ability of Bear Creek Mining to effectively operate the Mercedes
Mine and to advance its Corani project. 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; 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.