Reserves and Resources

Mineral Reserves & Resources

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PROVEN & PROBABLE MINERAL RESERVES

  Proven Probable Proven and Probable
Mine/Project Tonnes (kt) Grade (g/t) Contained gold (koz) Tonnes (kt) Grade (g/t) Contained gold (koz) Tonnes (kt) Grade (g/t) Contained gold (koz)
Aurizona 12,399 1.51 600 7,379 1.51 358 19,778 1.51 958
Castle Mountain 84,910 0.55 1,498 172,990 0.48 2,670 257,900 0.51 4,168
Mesquite 115 1.05 4 37,700 0.54 654 37,815 0.54 658
Los Filos 26,168 0.91 768 78,052 1.44 3,626 104,220 1.31 4,395
Leach pad inventory           114     114
RDM 5,647 0.73 133 19,079 1.08 656 24,726 0.99 789
Fazenda 2,632 1.77 150 2,756 1.91 169 5,387 1.84 319
Santa Luz 21,578 1.39 966 3,361 1.01 109 24,939 1.34 1,075
Greenstone1 3,374 1.28 139 77,820 1.27 3,184 81,193 1.27 3,323
Mercedes 381 5.50 67 2,224 3.60 258 2,605 3.90 325
Total Proven & Probable     4,325     11,798     16,124
  1. Shown on a 60% basis, reflecting Equinox Gold’s ownership in the project.

MEASURED & INDICATED MINERAL RESOURCES (inclusive of reserves)1

Mine Measured Indicated Measured and Indicated
Tonnes (kt) Grade (g/t) Contained gold (koz) Tonnes (kt) Grade (g/t) Contained gold (koz) Tonnes (kt) Grade (g/t) Contained gold (koz)
Aurizona 14,264 1.52 697 20,066 1.70 1,097 34,330 1.62 1,793
Castle Mountain 88,026 0.57 1,604 256,074 0.52 4,315 344,099 0.54 5,919
Mesquite 165 0.85 5 110,644 0.44 1,567 110,809 0.44 1,571
Los Filos 114,631 0.77 2,851 211,678 1.02 6,922 326,309 0.93 9,773
RDM 3,195 0.77 79 36,107 1.02 1,181 39,303 1.00 1,259
Fazenda 4,870 2.17 339 2,670 2.55 219 7,540 2.3 558
Santa Luz 31,063 1.36 1,362 9,696 1.96 610 40,760 1.54 1,971
Greenstone2 3,420 1.30 142 85,080 1.51 4,121 88,500 1.50 4,263
Brookbank       2,057 5.45 360 2,057 5.45 360
Kailey       6,766 0.96 209 6,766 0.96 209
Key Lake       2,257 1.16 85 2,257 1.16 85
Mercedes 858 4.48 124 3,627 4.10 478 4,485 4.17 602
Hasaga       42,294 0.83 1,124 42,294 0.83 1,124
Total Measured & Indicated     7,203     22,288     29,487
  1. Resources are inclusive of Reserves.
  2. Shown on a 60% basis, reflecting Equinox Gold’s ownership in the project.

INFERRED RESOURCES

Mine Tonnes (kt) Grade (g/t) Contained Gold (koz)
Aurizona 17,267 1.98 1,100
Castle Mountain 86,271 0.58 1,608
Mesquite 73,980 0.32 752
Los Filos 98,204 0.83 2,633
RDM 8,305 1.50 401
Fazenda 6,040 2.45 476
Santa Luz 7,265 2.07 483
Greenstone1 15,300 3.78 1,857
Brookbank 451 3.30 48
Kailey 2,915 0.87 82
Key Lake 1,103 1.39 49
Mercedes 1,548 4.74 236
Hasaga 25,143 0.78 631
Total Inferred     10,356
  1. Shown on a 60% basis, reflecting Equinox Gold’s ownership in the project.

Notes to Mineral Reserves & Resources

CIM (2014) Definition Standards were followed for Mineral Reserves. Mineral Resources are inclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Tonnage and grade measurements are in metric units. Contained gold is reported as troy ounces. Mineral resources do not include factors such as mining dilution or mining recovery. There is no certainty that the mine plans and economic models contained in any of the reports will be realized. Numbers may not add due to rounding. See Cautionary Notes on this website.
 
Details of cut-off grades, bulk densities, mining widths, dilution, mining factors and process recovery assumptions applied to Mineral Reserves and Mineral Resources are provided in the Technical Reports for each mine/project.
 
The June 30, 2020 Mesquite Mineral Reserves and Mineral Resources update was based on technical information regarding the Mesquite property originally reported in the “Technical Report on the Mesquite Gold Mine, California, U.S.A.” (the “Mesquite Technical Report”) dated March 18, 2020 with an effective date of December 31, 2019, prepared by AGP Mining Consultants Inc. that also incorporates newly acquired data. The Qualified Persons as defined by National Instrument 43-101 who prepared or supervised the preparation of the information contained in the report are Bruce Davis, FAusIMM (BD Resource Consulting, Inc.), Nathan Robison, PE (Robison Engineering Company Inc.), Ali Shahkar P.Eng. (Lions Gate Geological Consulting Inc.), Robert Sim, P.Geo. (SIM Geological Inc.), Jefferey Woods, SME MMAS (Woods Process Services, LLC) and Gordon Zurowski, P.Eng (AGP).  Mineral Resources were restricted between the June 30, 2020 Reserve pit designs and the ultimate resource limiting pit shell based on a gold price of $1,500/oz, mining cost of $1.60/t mined and a processing cost of $2.26/t ore and G&A was $0.77/t ore placed. Gold recoveries had an assumed recovery of 75% for oxide and 35% for non-oxide materials. The cut-off grade varied by material type from 0.09 g/t for oxide and oxide-transition and 0.18 g/t for non-oxide transition and non-oxide materials. Waste dump material has an assumed recovery of 75% and cut-off grade of 0.14 g/t. Ali Shahkar P.Eng. of Lions Gate Geological Consulting Inc. is the Qualified Person under NI 43-101 responsible for the in-situ mineral resource estimation. Robert Sim, P.Geo. of SIM Geological Inc. is the Qualified Person under NI 43-101 responsible for the waste dump mineral resource estimation. Numbers may not total due to rounding. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. The Mineral Reserve estimate has an effective date of June 30, 2020 and is based on the Mineral Resource estimate dated June 30, 2020 prepared by Lions Gate Geological Consulting Inc. The Mineral Reserve calculation was completed under the supervision of Gordon Zurowski, P.Eng. of AGP, who is a Qualified Person as defined under NI 43-101. Mineral Reserves are stated within the final design pit based on a $1,350/oz gold price. The cut-off grade varied by material type from 0.14 g/t for oxide and 0.31 g/t for non-oxide materials. The mining cost averaged $1.60/t mined, processing costs are $2.26/t ore and G&A was $0.77/t ore placed. The ore recoveries were 75% for oxide and 35% for non-oxide materials. The June 30, 2020 Mesquite Mineral Reserves and Mineral Resources update was based on technical information regarding the Mesquite property originally reported in the “Technical Report on the Mesquite Gold Mine, California, U.S.A.” (the “Mesquite Technical Report”) dated March 18, 2020 with an effective date of December 31, 2019, prepared by AGP Mining Consultants Inc. The Qualified Persons as defined by National Instrument 43-101 who prepared or supervised the preparation of the information contained in the report are Bruce Davis, FAusIMM (BD Resource Consulting, Inc.), Nathan Robison, PE (Robison Engineering Company Inc.), Ali Shahkar P.Eng. (Lions Gate Geological Consulting Inc.), Robert Sim, P.Geo. (SIM Geological Inc.), Jefferey Woods, SME MMAS (Woods Process Services, LLC) and Gordon Zurowski, P.Eng (AGP). Numbers may not sum due to rounding. Drill composites were calculated using cut-off values of 0.14 g/t and contain no more than 5 metres of internal waste. Drill intersections are calculated using uncut assays and reported as drilled thickness. All samples were submitted to American Assay Lab in Reno, NV for sample preparation and analysis. All samples were crushed and pulverized from which a 1 kg sample pulp was taken for the following analyses: a 50-gram fire assay for gold; a 48 multi-element geochemical suite by 5-acid digestion and Inductively-Coupled Mass Spectrometry (ICP-MS); and a total sulphur and sulphide sulphur analysis. Samples with fire assay gold values over 10.0 g/t gold are re-assayed bye Screen Metallics fire assay. Control samples (accredited standards, blanks, and duplicate samples at the field and preparation stages) were inserted on a regular basis and results were monitored upon receipt of assays.
 
The Aurizona Mineral Reserves and Mineral Resources were reported in the “Technical Report on the Aurizona Gold Mine” (the “Aurizona Technical Report”) dated April 27, 2020 with an effective date of January 24, 2020, prepared by AGP Mining Consultants Inc. The Qualified Persons as defined by National Instrument 43-101 who prepared or supervised the preparation of the information contained in the report are Eleanor Black, P.Geo. and Trevor Rabb, P.Geo, of Equity Exploration Consultants Ltd. and Neil Lincoln and Gordon Zurowski of AGP Mining Consultants Inc. Mineral Resources are reported exclusive of Mineral Reserves. The Mineral Resource statement was prepared by Trevor Rabb, P.Geo. of Equity Exploration Consultants Ltd. who is a Qualified Person as defined by National Instrument 43-101. Mineral Resources from the Piaba Open-Pit, Piaba Underground and Boa Esperança have an effective date of December 31, 2019. Mineral Resources from Tatajuba have an effective date of January 24, 2020. Mineral Resources are reported using a gold price of $1,500/oz. Open-pit Mineral Resources are reported using a cut-off grade of 0.6 g/t gold and are constrained using an optimized pit generated using Lerchs-Grossman pit optimisation algorithm using $1,500/oz gold price, costs of $2.32/t mining, up to $12.13/t processing, $2.84/t G&A and gold recovery up to 92.6%. Underground Mineral Resources are reported using a cut-off grade of 1.0 g/t gold and constrained by using a 1.0 g/t gold confining solid. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. The Mineral Reserve estimate has an effective date of December 31, 2019 and is based on the Mineral Resource estimate dated December 31, 2019 for Aurizona completed by Equity Exploration. The Mineral Reserve calculation was completed under the supervision of Gordon Zurowski, P.Eng. of AGP Mining Consultants, who is a Qualified Person as defined under NI 43-101. Mineral Reserves are stated within the final design pits based on a $1,350/oz gold price. The cut-off grade used was 0.6 g/t gold for Piaba and Piaba East and 0.41 g/t gold for Boa Esperança. The mining cost averaged $2.32/t mined, processing costs are $9.98/t for laterite/saprolite, $10.28/t for transition and $12.13/t for fresh rock. G&A was $2.84/t ore processed. The ore recoveries were 92.6% for laterite/saprolite, 92.1% for transition and 89.2% for fresh rock. Numbers may not sum due to rounding. See Cautionary Notes. Section 24 of the Aurizona Technical Report includes reference to a preliminary economic assessment (“PEA”) of the potential to development an underground mine at Aurizona. The PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the results contemplated in the PEA will be realized.
 
The Castle Mountain Mineral Reserve and Mineral Resource Estimates were disclosed in the "Technical Report on the Castle Mountain Project Feasibility Study” prepared by M3 Engineering & Technology Corp. with an effective date of February 26, 2021. The Castle Mountain technical report has been filed with Canadian securities regulatory authorities and is available for review on Equinox Gold’s website, on SEDAR and on EDGAR.
 
The Los Filos Mineral Reserve and Mineral Resource Estimates were disclosed in the "Independent Technical Report for the Los Filos Mine Complex, Mexico" by SRK Consulting (Canada) Inc., and dated March 11, 2019 with an effective date of October 31, 2018. Dr. G. Arseneau, P.Geo., E. Olin, RM-SME, T. Olson, FAusIMM, N. Winkelmann, FAusIMM, N. Lincoln, P.Eng., M. Rykaart, P.Eng., D. Nicholas, P.E. are the Qualified Persons that prepared or supervised preparation of the information contained in the Technical Report.
 
The RDM Mineral Reserve and Mineral Resource Estimates were disclosed in the “Technical Report on the Riacho dos Machados Gold Mine, Minas Gerais, Brazil” by Roscoe Postle Associates Inc., and dated March 27, 2020 with an effective date of May 31, 2018. H.M. Miranda, MBA, ChMc (RM), M.B. Mathisen, C.P.G. and K.A. Altman, Ph.D., P.E., are the Qualified Persons that prepared or supervised preparation of the information contained in the Technical Report.
 
The Fazenda Mineral Reserve and Mineral Resource Estimates were disclosed in the “Technical Report on the Fazenda Brasileiro Mine, Bahia State, Brazil” by Roscoe Postle Associates Inc., and dated March 26, 2020 with an effective date of May 31, 2018. Mark B. Mathisen, C.P.G., H.M. Miranda, MBA, ChMC (RM), R.L. Michaud, P.Eng. and A.P. Hampton, P.Eng. are the Qualified Persons that prepared or supervised preparation of the information in the Technical Report.
 
The Santa Luz Mineral Reserve and Mineral Resource Estimates were disclosed in an Equinox Gold press release dated November 9, 2020. The scientific and technical information concerning the Santa Luz Project is summarized, derived, or extracted from the “NI 43-101 Technical Report on the Santa Luz Project, Bahia State, Brazil” prepared by Roscoe Postle Associates Inc. (“RPA”), now part of SLR Consulting Ltd (“SLR”), Ausenco Engineering Canada Inc. (“Ausenco”) and the Equinox Gold Technical Services group. Qualified Persons (“QPs”) are Mark Mathisen, C.P.G. and Robert Michaud, P.Eng., both of SLR; Hugo Ribeiro, MAusIMM(CP), Mine Planning and Geology Manager, Santa Luz Mine, for Equinox Gold; and Stephen La Brooy, FAusIMM, and Robert Raponi, P.Eng., both of Ausenco.  Mineral Resources were prepared by Mark Mathisen based on the geological model prepared by Equinox Gold geologists, which SLR reviewed and agreed when preparing the block model. Mineral Reserves, mine plan and mining sections of the study were prepared by or under the supervision of Hugo Ribeiro. The metallurgical testwork, process design and process plant information were prepared by or under the supervision of Stephen La Brooy and Robert Raponi. 
 
Scientific and technical information concerning the Greenstone Project is summarized, derived, or extracted from the “NI 43-101 Technical Report, Hardrock Project, Ontario, Canada” prepared by G. Mining Services Inc. for Premier Gold with an effective date of December 16, 2020. The Greenstone technical report is available on Equinox Gold’s website and on SEDAR under Premier Gold’s profile.

Scientific and technical information concerning the Mercedes Mine is summarized, derived, or extracted from the “NI 43-101 Technical Report Mercedes Gold-Silver Mine, Sonora State, Mexico” prepared by BBA Inc. for Equinox Gold with an effective date of December 31, 2020. The Mercedes technical report is available on Equinox Gold’s website, on SEDAR and on EDGAR.
 
Scientific and technical information concerning the Hasaga Property is summarized, derived, or extracted from the “National Instrument 43-101 Technical Report: Hasaga Project Red Lake Mining District, Ontario, Canada NTS MAP Sheets 52K/13 AND 52N/04” prepared by MRB & Associates for Premier Gold with an effective date of December 30, 2016. The Hasaga technical report is available on Equinox Gold’s website and on SEDAR under Premier Gold’s profile.

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