Average Annual Canadian Production Estimated at Over 500,000 Ounces per Year 2026-2036

Equinox Gold (TSX: EQX) (NYSE: EQX) is pleased to announce its Q1 2026 financial and operating results. The Company’s unaudited condensed consolidated interim financial statements and related management’s discussion and analysis are available for download on the Company’s profile on SEDAR+ at www.sedarplus.ca, on EDGAR at www.sec.gov/edgar and on the Company’s website at www.equinoxgold.com. All financial figures are in US dollars, unless otherwise indicated.

Darren Hall, CEO of Equinox Gold, commented: “Equinox Gold delivered a solid start to the year, producing 197,628 ounces of gold with cash costs and all-in sustaining costs of $1,633 and $1,950 per oz, respectively. Importantly, our two Canadian operations are ramping up well, with 87,402 oz produced from Canada during the quarter. Based on performance year-to-date and expected improvements through the balance of the year, the Company remains on track to achieve our full-year consolidated production and cost guidance.

“At Greenstone, winter mining rates averaged 180,248 tonnes per day and mill throughput averaged 24,544 tpd during the quarter, with more than half of operating days exceeding nameplate capacity, demonstrating quarter on quarter improving performance. While mining productivities improved through Q1, volumes tracked slightly below plan due to severe winter condi tions which affected mine sequencing, resulting in lower grades processed and production of 60,338 ounces of gold. As we move out of winter and mining productivity continues to advance, we expect to realign with the mine plan and see grades improve through the year.

“At Valentine, the team delivered a solid first full quarter of operations despite a severe winter in Newfoundland. The region experienced unusually challenging winter conditions during the quarter, which impacted mining rates and the timing of access to planned ore zones, resulting in production of 27,064 ounces of gold. Despite these conditions, the process plant performed well, averaging 6,192 tonnes per day, or 90% of nameplate capacity, for the quarter and exceeding nameplate capacity in both February and March, a testament to the team and quality of the plant.

“We are following up on new mineralization discovered at Valentine during our 2025 drill program while ad vancing plans for the Phase 2 expansion, which together are expected to drive higher production and extend the mine life.

“We advanced our pipeline of growth projects during the quarter, outlining plans for the Valentine Phase 2 expansion, advancing engineering and environmental studies for Castle Mountain, and continuing exploration, engineering and community dialogue at Los Filos. Collectively, these projects could add up to 500,000 ounces of annual production, delivering significant shareholder value.

“With strong cash flow from our operating mines and completion of the sale of our Brazil assets in January, we were able to repay $990 million of debt during the quarter, initiate a share buyback program and pay our inaugural quarterly dividend of $0.015 per share on March 26. Subsequent to quarter-end, following meaningful deleveraging and improved financial strength, we refinanced our revolving credit facility on improved terms, enhancing liquidity, flexibility, and our overall cost of capital. The Board also approved a second quarterly dividend of $0.015 per share, payable on June 5, 2026 to shareholders of record on May 21, 2026. Our focus is clear: delivering long-term shareholder value through operational excellence, disciplined capital allocation and successful delivery of our organic growth pipeline. We look forward to providing additional updates as the year unfolds.”

Q1 2026 Highlights

• Produced 197,628 ounces of gold, including 60,338 oz from Greenstone, 27,064 oz from Valentine, 13,174 oz from Mesquite and 81,280 oz from Nicaragua, all of which were included in the Company’s 2026 guidance of 700,000 to 800,000 ounces, as well as 2,299 oz from Castle Mountain (collectively, “Continuing Operations”); produced 13,473 oz from the Brazil Operations, which were sold on January 23, 2026, and are presented as “Discontinued Operations” in the Company’s quarterly filings
• Sold 199,217 ounces of gold from All Operations¹ at an average realized gold price of $4,604 per oz
• Cash costs of $1,633 per oz and all-in sustaining costs (“AISC”) of $1,950 per oz for All Operations²
• Cash flow from All Operations before changes in non-cash working capital of $341.0 million
• Mine-site free cash flow from All Operations before changes in non-cash working capital of $408.9 million²
• Revenue from Continuing Operations of $861.6 million
• Adjusted EBITDA from All Operations of $527.2 million²
• Income from mine operations from Continuing Operations of $438.8 million
• Net incom e from All Operations of $310.1 million or $0.39 per share (basic)
• Adjusted net income from All Operations of $234.0 million or $0.30 per share²
• Completed the sale of the Aurizona, RDM and Bahia Complex mines in Brazil for up to $1.015 billion
• Extinguished and repaid $988.6 million of debt
• Paid dividends to shareholders of $11.8 million ($0.015 per share) on March 26, 2026
• Cash and equivalents (unrestricted) of $363.0 million at March 31, 2026
• Net debt of $77 million (excluding convertible debentures)^2,3 and available liquidity of $923 million³ at April 30, 2026
• Canadian production estimated at 543,000 ounces per year from 2026-2036 (see March 30, 2026 news release)
  • Greenstone: Average 320,000 ounces per year from 2026-2036; opportunities for mine life extension and production growth from underground mineral resources, near-mine and regional deposits and mill throughput increase
  • Valentine: Average 223,000 ounces per year from 2026-2036 with successful completion of Phase 2 expansion; opportunities for mine life extension from Frank Zone and future exploration success
• Advanced pipeline of growth projects, which collectively could deliver up to 500,000 ounces of additional annual production
  • Valentine Phase 2 expansion increases throughput from 2.5 Mtpa to 5 Mtpa ; $414 million estimated initial capital cost for mill, infrastructure and fleet expansion, including 20% contingency, to be self funded through cash flow; construction targeted for H2 2026 following Board of Directors approval, with anticipated 24-month construction timeline
  • Castle Mountain update studies ongoing; expect Federal Record of Decision during Q4 2026
  • Los Filos exploration, engineering and continued dialogue with all stakeholders ongoing to evaluate restart and expansion opportunities
• Reported year-end 2025 Mineral Reserve and Mineral Resource estimates: 19.0 million ounces of Proven & Probable Reserves, 19.1 million ounces of Measured & Indicated Resources (exclusive of Reserves) and 11.1 million ounces of Inferred Resources (see March 30, 2026 Annual Information Form for more details)
• Resource expansion and discovery drilling continues across the portfolio
  • Announced new high-grade Minotaur gold discovery at Valentine, 8 km north of the mill, and continued to identify consistent gold mineralization in the Frank Zone, along trend from existing Mineral Reserves

¹ _{All Operations includes both Continuing Operations and Discontinued Operations.}
² _{Cash costs per oz sold, AISC per oz sold, mine-site free cash flow, adjusted net income, adjusted earnings per share, adjusted EBITDA, sustaining expenditures, and net debt are non-IFRS measures. See Non-IFRS Measures and Cautionary Notes.}
³ _{Net debt calculated using cash of $363 million at March 31, 2026 and drawn debt of $440 million at April 30, 2026, excluding in-the-money convertible debentures and equipment loans. Available liquidity calculated as $363 million of cash at March 31, 2026 plus $560 million of undrawn debt on the Revolving Credit Facility at April 30, 2026.}

Consolidated Operational and Financial Highlights – Operating Data

⁽¹⁾  _{Brazil Operations, Los Filos and Castle Mountain are excluded from the 2026 Guidance. Valentine, Los Filos and Castle Mountain were excluded from the 2025 production and cost guidance issued in June 2025 (“2025 Guidance”). References to 2025 Guidance and 2026 Guidance for the respective periods are interchangeably referred to as “Guidance”.}
⁽²⁾  _{Cash costs per oz sold and AISC per oz sold are non-IFRS measures. See Non-IFRS Measures and Cautionary Notes.}
⁽³⁾  _{Consolidated cash costs per oz sold and AISC per oz sold exclude Castle Mountain’s results after August 2024 when residual leaching commenced (see Development Projects) and Los Filos’ results after March 2025 when operations were indefinitely suspended on April 1, 2025 (see Development Projects). Consolidated cash costs per oz sold and AISC per oz sold include Valentine commencing December 2025 after the mine achieved commercial production. Consolidated AISC per oz sold excludes corporate general and administration expenses.}
⁽⁴⁾  _{Consolidated cash costs per oz sold and AISC per oz sold for Q1 2025 have been adjusted to exclude the results from Los Filos which were excluded from the 2025 Guidance.}
⁽⁵⁾  _{Numbers in tables throughout this news release may not sum due to rounding.}

Consolidated Operational and Financial Highlights – Financial Data

⁽¹⁾  _{Adjusted EBITDA, adjusted net income, adjusted EPS and net debt are non-IFRS measures. See Non-IFRS Measures and Cautionary Notes.}
⁽²⁾  _{Numbers in tables thro ughout this news release may not sum due to rounding.}
⁽³⁾  _{Net debt in the MD&A and financial statements includes convertible debentures as per IFRS, whereas convertible debentures have been excluded from the highlight bullets earlier in this news release since they are in-the-money and expected to convert to equity.}

Additional information regarding the Company’s financial and operating results can be found in the Company’s Q1 2026 Financial Statements and accompanying MD&A for the three months ended March 31, 2026. These documents are available for download on the Company’s website at www.equinoxgold.com, on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar.

About Equinox Gold

Equinox Gold is a Canadian mining company positioned for growth with a strong foundation of high-quality, long-life gold operations in Canada and across the Americas, and a pipeline of development and expansion projects. Founded and chaired by renowned mining entrepreneur Ross Beaty and guided by a seasoned leadership team with broad expertise, the Company is focused on disciplined execution, operational excellence and long-term value creation. Equinox Gold offers investors me aningful exposure to gold with a diversified portfolio and clear path to growth.