VANCOUVER, July 2, 2019 /CNW/ - Equinox Gold
Corp. (TSX-V: EQX, OTC: EQXFF) ("Equinox Gold" or the
"Company") is pleased to announce that commercial production has
been achieved at the Company's Aurizona Gold Mine in Brazil effective July
1, 2019.
During the month of June, the Aurizona processing plant operated
at an average throughput of approximately 90% of its name-plate
capacity of 8,200 tonnes per day, exceeded 90% average recovery and
produced more than 7,000 ounces of gold. Gold production is
expected to continue to increase through the third and fourth
quarters of 2019, with average life-of-mine production estimated at
136,000 ounces per year.
Christian Milau, Equinox Gold's
CEO, stated, "Achieving commercial production at Aurizona is a
significant milestone, making Equinox Gold a multi-mine producer
and bringing us one step closer to our near-term target of having
three mines in production in 2020. We are pleased that Aurizona is
ramping up quickly and thank our team, contractors and stakeholders
in Brazil for their hard work and
support."
With commercial production at Aurizona achieved, the final
condition pursuant to the previously announced corporate revolving
credit facility has been completed and the remaining US$30 million of the total US$130 million
has been made available to the Company.
On Behalf of the Board of Equinox Gold Corp.
"Christian Milau"
CEO & Director
About Equinox Gold
Equinox Gold is a Canadian mining company with a
multi-million-ounce gold reserve base and growth potential from
three wholly-owned gold mines. The Company is producing gold from
its Mesquite Gold Mine in California and its Aurizona Gold Mine in
Brazil, and is advancing its
Castle Mountain Gold Mine in California. 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
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as such term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-looking Statements
This news release contains certain forward-looking
information and forward-looking statements within the meaning of
applicable securities legislation. All statements, other than
statements of historical fact, are forward-looking
statements. Forward-looking statements or information in this news
release relate to, among other things: the ability of the Company
to successfully operate Aurizona; the ability of the Company to
successfully operate Mesquite; development and timing of
anticipated production at Castle Mountain; and the growth potential
of the Company. Forward-looking statements or information generally
identified by the use of the words "will", "advancing",
"potential", "target", "near-term" and similar expressions
and phrases or statements that certain actions, events or
results "may", "should", or "be achieved", 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:
tonnage of ore to be mined and processed; ore grades and
recoveries; prices for gold remaining as estimated; the
construction and planned production at Castle Mountain being
completed and performed in accordance with current expectations;
currency exchange rates remaining as estimated; availability of
funds for the Company's projects and future cash requirements;
capital, decommissioning and reclamation estimates; the Company's
mineral reserve and 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 development and
production; all necessary permits, licenses and regulatory
approvals are received in a timely manner; and the Company's
ability to comply with environmental, health and safety laws. While
the Company considers these assumptions to be reasonable based on
information currently available, they may prove to be incorrect.
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 or 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,
usual 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; 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; and
those factors identified in the Company's management information
circular dated June 20, 2018 and in
its MD&A dated December 31, 2018,
which are available on SEDAR at www.sedar.com. 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 and does not
intend to update or 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.