Valentine Gold Mine

Atlantic Canada’s next major gold mine

Valentine poured first gold on September 14, 2025, announced commercial production on November 18th, and is on track to ramp up to design capacity by Q2 2026.

Snapshot

Ownership

100%

Location

Newfoundland and Labrador, Canada

Commercial Production

November 18, 2025

Estimated Production1

150,000-200,000 in 2026

Reserves

2.7 Moz @ 1.62 g/t gold

M&I Resources2

1.33 Moz @ 1.45 g/t gold

Mining and processing

Open-pit / CIL plant

Estimated mine life

~14 years

1. For the mine’s first partial year of production. Once ramped up to capacity, Valentine is expected to production 175,000-200,000 oz of gold annually for the first 12 years of its 14-year reserve life, based on the November 2022 technical report.
2. M&I Mineral Resources are exclusive of Mineral Reserves. See Operations / Reserves & Resources and Cautionary Notes.

Overview

The Valentine Gold Mine is located in central Newfoundland and Labrador, one of the world’s top mining jurisdictions. When operating at capacity, Valentine will be the largest gold mine in Atlantic Canada and a significant economic driver for the province.

The project spans a 32-km mineralized trend with multiple deposits and strong exploration upside. A December 2022 Feasibility Study outlined an open-pit mining and conventional milling operation with an initial 14-year mine life and average annual gold production of 175.,000 to 200,000 ounces for the first 12 years.

Commissioning Highlights

Construction is complete and commissioning is underway. The plant started processing ore in late August and commissioning of the Valentine process plant is progressing extremely well, with mill throughput averaging 47% of nameplate for the first 15 days of operation, resulting in first gold being poured earlier than expected, on September 14, 2025. For the first 60 days of production (Sept 18 to Nov 18) the Valentine process plant averaged 5,451 tpd, representing 80% of nameplate capacity of 6,850 tpd, with gold recovery averaging over 93% on lower-grade commissioning feed of 1.2 grams per tonne gold

Valentine is expected to deliver into the higher end of the estimated Q4 production range of 15,000 to 30,000 ounces of gold, to reach nameplate capacity by Q2 2026, and produce 150,000 to 200,000 ounces of gold in 2026.  

First Ore Processed at the Valentine Gold Mine

Operating Mines

An Americas-focused gold producer

Equinox Gold has operating mines in Canada, the USA, Nicaragua and Brazil.

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