VANCOUVER, BC, Nov. 23, 2020 /PRNewswire/ - Equinox Gold
Corp. (TSX: EQX) (NYSE American: EQX) is pleased to announce
that commercial production has been achieved at its Castle Mountain
Gold Mine in California, USA.
Equinox Gold expects to produce between 5,000 to 10,000 ounces
of gold at Castle Mountain in 2020, with average annual production
of approximately 40,000 ounces of gold during the Phase 1 mine
life. Equinox Gold is reviewing the potential for a Phase 2
expansion that is expected to increase average production to
200,000 ounces of gold annually. The Phase 2 feasibility study is
targeted for completion in Q1 2021.
Christian Milau, Equinox Gold's
CEO, stated, "Achieving commercial production at Castle Mountain is
an important step for what will ultimately be a long-life 200,000
ounce per year gold mine, bringing significant benefits to local
communities, the State of
California and Equinox Gold's shareholders."
About Equinox Gold
Equinox Gold is a Canadian mining company with seven operating
gold mines and construction underway at an eighth site, a
multi-million-ounce gold reserve base and a clear path to achieve
one million ounces of annual gold production from a pipeline of
development and expansion projects. Equinox Gold operates entirely
in the Americas, with two properties in the United States, one in Mexico and five in Brazil. 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: Equinox Gold's ability to successfully advance the
Castle Mountain expansion, Equinox Gold's strategic vision and
Equinox Gold's ability to successfully advance its growth and
development projects. Forward-looking statements or information
generally identified by the use of the words "will",
"reviewing", "expected", "expects", "potential", "targeted",
"underway" and similar expressions and phrases or statements that
certain actions, events or results "could", "would" or
"should" occur, or the negative connotation of such terms, are
intended to identify forward-looking statements and information.
Although Equinox Gold 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 Equinox Gold can give no assurance that such expectations
will prove to be correct. Equinox Gold 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 Equinox Gold has
made assumptions and estimates based on or related to many of these
factors. While Equinox Gold 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. Such factors include, without
limitation: prices for gold remaining as estimated; Equinox Gold's
ability to obtain all necessary permits, licenses and regulatory
approvals in a timely manner or at all; development at Castle
Mountain being completed and performed in accordance with current
expectations; currency exchange rates remaining as estimated;
availability of funds for the Phase 2 expansion and future cash
requirements; prices for energy inputs, labour, materials, supplies
and services; no labor-related disruptions and no unplanned delays
or interruptions in scheduled development and production, including
by blockade; 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; relationships with, and claims by,
local communities and indigenous populations; changes in laws,
regulations and government practices, including environmental,
export and import laws and regulations; legal restrictions relating
to mining including those imposed in connection with COVID-19;
risks relating to expropriation; increased competition in the
mining industry; and those factors identified in Equinox Gold's
MD&A dated February 28, 2020 and
its Annual Information Form dated May 13,
2020, both for the year-ended December 31, 2019, and in Equinox Gold's MD&A
dated November 5, 2020 for the
quarter ended September 30, 2020, all
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, Equinox Gold 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 Equinox Gold updates
any one or more forward-looking statements, no inference should be
drawn that Equinox Gold 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.