Bahia Complex: Fazenda Gold Mine

Mining and Processing

The majority of mill feed (~75%) is from underground mining, with the remainder coming from a series of small open pits. Underground mining is owner-operated via five declines along an estimated 6 km strike of the mineralized trend. The underground mining rate is up to 3,800 tonnes per day which provides for approximately five years of underground production based on existing Mineral Reserves. The Company expects to extend the underground mine life with recent exploration activities and has successfully replaced the Mineral Reserves for the past five years.

Open pit mining is performed by a mining contractor with conventional truck and shovel operations. The average mining rate is approximately 4.6 million tonnes per year with a strip ratio averaging 9:1 (waste:ore). Existing Mineral Reserves support a five-year open pit mine life, with the potential for mine life extension by mining the crown pillar in a number of ore bodies.

Ore is delivered to a 3,780 tonnes-per-day crushing and grinding circuit and processed with gravity concentration and a standard carbon-in-leach plant. Gold recovery averages more than 90%.

Fazenda is part of the Bahia Complex. Bahia Complex production guidance for 2025 is 125,000 to 145,000 ounces of gold, with cash costs of $1,360 to $1,460 per oz and AISC of $1,845 to $1,945 per oz.

Tailings and Waste Management

Two core elements of our responsible mining strategy are to protect the health and safety of our workforce and local communities, and to minimize and mitigate our impact on the environment. That includes ensuring mine waste, such as waste rock and tailings, is safely managed, and that all of our waste rock and tailings storage facilities (TSFs) are properly designed, physically and chemically stable for long-term storage, and routinely inspected and audited.

Brazilian Law 12,334/2010 establishes the National Dam Safety Policy. As outlined in Article 12, paragraph 1 (amended by Law 14,066/2020), companies responsible for dams are required to make their Emergency Action Plan publicly available on their websites. This regulation ensures that local communities, regulatory agencies, and other stakeholders have access to essential information about emergency response actions. In compliance with this legal requirement, the Emergency Action Plans for Tailings Dams for Equinox Gold’s Fazenda Brasileiro Desenvolvimento Mineral (Fazenda Mine) is posted below for public review. The Emergency Action Plans are posted in Portuguese, the language of the local communities for whom the Emergency Action Plans are relevant.

A legislação brasileira nº 12.334/2010, que define a Política Nacional de Segurança de Barragens, determina (artigo 12, parágrafo 1º – alterado pela Lei nº 14.066/2020), que o Plano de Ação de Emergência (PAE) deve estar disponível no website da empresa responsável pela barragem, acessível ao público. Essa normativa visa garantir que as comunidades locais, órgãos fiscalizadores e demais partes interessadas tenham acesso direto e compreensível às informações relacionadas às ações de resposta em situações de emergência.

Em atendimento a essa exigência, os Planos de Ação de Emergência para Barragem de Mineração – PAEBM’s das barragens da Fazenda Brasileiro Desenvolvimento Mineral (Fazenda) estão disponíveis em língua portuguesa para consulta dos interessados. Os Planos de Ação de Emergência são publicados em português, o idioma das comunidades locais para as quais os Planos de Ação de Emergência são relevantes.

Exploration and Geology

Fazenda is located within the Rio Itapicurú Greenstone Belt, a 100 km long and 60 km wide north-south trending volcanic-sedimentary belt situated within the São Francisco Craton. Fazenda is an epigenetic, structurally controlled, and hydrothermally altered Precambrian quartz vein hosted lode gold deposit that has been subjected to greenschist facies metamorphism. The main mineralization is in the form of sulphide-bearing quartz veining, and these multiple vein systems vary in true width from 1.5 to 40 metres.

Drilling has successfully converted Mineral Resources to Mineral Reserves for the past five years. Underground exploration opportunities exist in large gaps in historical drilling, and gold mineralization remains open along strike to the east and west. In 2021, Equinox Gold delineated Mineral Reserves in the Canto 2 open pit deposit that will be incorporated into the Fazenda mine plan in 2023. In January 2025, Equinox Gold updated the Mineral Reserve and Mineral Resource estimate for Fazenda, extending the mine life to 2033 and highlighting a 142% increase in Mineral Reserves compared to the previous estimate.

In addition, ongoing exploration in the Bahia District along the 70 km long greenstone belt that hosts Equinox Gold’s Fazenda and Santa Luz mines, has identified the potential to establish a mining district with the opportunity to truck mineralization to either Fazenda or Santa Luz for processing, based on the ore’s metallurgical characteristics.