Equinox Gold Completes Sale of Brazil Operations for Total Cash Consideration of US$1.015 Billion; Pays Down More than US$800 Million of Debt With Net Debt Reduced to US$150 Million

GlobeNewswire

(All financial figures are in US dollars)

VANCOUVER, British Columbia, Jan. 23, 2026 (GLOBE NEWSWIRE) -- Equinox Gold Corp. , NYSE American:EQX (“Equinox Gold” or the “Company”) completed the previously announced sale of its Aurizona Mine, RDM Mine and Bahia Complex located in Brazil (the “Brazil Operations”) to a subsidiary of the CMOC Group for total consideration of up to $1.015 billion (the “Transaction”). Equinox Gold received cash proceeds of $900 million, before closing adjustments, and will receive a production linked contingent cash payment of up to $115 million on January 23, 2027.

The Company will immediately fully repay its $500 million Term Loan, pay $300 million to extinguish the Sprott Loan and related obligations, and make a payment on its revolving credit facility. This will reduce the Company’s senior debt to approximately $580 million (net debt1 to approximately $150 million) and significantly lower its interest expense.

Darren Hall, Chief Executive Officer of Equinox Gold, stated: “Monetizing the Brazil Operations has streamlined our portfolio and transformed our balance sheet. Equinox Gold is now well established as a leading North America focused gold producer, with greater financial flexibility to self-fund high return, near term organic growth opportunities and consider capital return initiatives. Our development pipeline has the potential to add 450,000 to 550,000 ounces of incremental annual gold production in the coming years. With a strengthened balance sheet and 2026 consolidated gold production guidance of 700,000 to 800,000 ounces providing robust cash flow generation, we are well positioned to deliver stronger per-share value for our shareholders.”

The Transaction was completed through the sale of the issued and outstanding shares of certain non-Brazilian wholly owned subsidiaries of the Company that indirectly owned the Brazil Operations.

ABOUT EQUINOX GOLD

Equinox Gold , NYSE-A:EQX 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 meaningful exposure to gold with a diversified portfolio and clear path to growth. Learn more at www.equinoxgold.com or contact ir@equinoxgold.com.

EQUINOX GOLD CONTACT

Ryan King

EVP Capital Markets T:778.998.3700

E: ryan.king@equinoxgold.com

E: ir@equinoxgold.com

Note:

1 Cash as at December 31, 2025 of $430 million; excludes in-the-money convertible notes.

Cautionary Notes & Forward-Looking StatementsThis news release includes forward-looking information and forward-looking statements within the meaning of applicable securities laws and may include future-oriented financial information or financial outlook information (collectively “Forward-looking Information”). Actual results of operations and the ensuing financial results may vary materially from the amounts set out in any Forward-looking Information Forward-looking Information in this news release includes: the Company’s strategic vision and expectations for exploration potential, production capabilities, growth potential, expansion projects and future financial or operating performance, including shareholder returns; realization of the contingent cash consideration; expectations for Greenstone and Valentine operations, including achieving design capacity, anticipated production and cost guidance; potential future mining opportunities around Valentine; receipt of required approvals and permits and effectiveness of the FAST-41 designation for Castle Mountain Phase 2; and the Company’s ability to improve cash flow and continue to reduce debt. Forward-looking Information is typically identified by words such as “believe”, “will”, “achieve”, “grow”, “plan”, “expect”, “estimate”, “anticipate”, “deliver”, “execute” and similar terms, including variations like “may”, “could”, or “should”, or the negative connotation of such terms. While the Company believes these expectations are reasonable, they are not guarantees and undue reliance should not be placed on them. Forward-looking Information is based on the Company’s current expectations and assumptions, including: achievement of exploration, production, cost and development goals; completion and ramp up at Valentine; achieving design capacity at Greenstone and Valentine operations; timely receipt of Castle Mountain permits and completion of Castle Mountain Phase 2; stable gold prices and input costs; availability of funding, accuracy of Mineral Reserve and Mineral Resource estimates; successful long-term agreements with Los Filos communities and management of suspended operations; adherence to mine plans and schedules; expected ore grades and recoveries; absence of labour disruptions or unplanned delays; productive relationships with workers, unions and communities; maintenance and timely receipt of permits and regulatory approvals; compliance with environmental and safety regulations; and constructive engagement with Indigenous and community partners. While the Company considers these assumptions reasonable, they may prove incorrect. Forward-looking Information involves numerous risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such Forward-looking Information. Such factors include changes in laws, regulations and government practices; and other risks and uncertainties described in the section “Risk Factors” in the Company’s MD&A dated March 13, 2025 for the year ended December 31, 2024, and in the section titled “Risks Related to the Business” in Equinox Gold’s most recently filed Annual Information Form which is available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar and in the section “Risk Factors” in Calibre Mining’s MD&A dated February 19, 2025 for the year ended December 31, 2024 and the section titled “Risk Factors” in Calibre Mining’s most recently filed Annual Information Form which is available on SEDAR+ at www.sedarplus.ca. Forward-looking Information reflects management’s current expectations for future events and is subject to change. Except as required by applicable law, the Company assumes no obligation to update or to publicly announce the results of any change to any Forward-looking Information contained or incorporated by reference to reflect actual results, future events or developments, changes in assumptions or other factors affecting Forward-looking Information. If the Company updates any Forward-looking Information, no inference should be drawn that the Company will make additional updates with respect to those or other Forward-looking Information. All Forward-looking Information contained in this news release is expressly qualified by this cautionary statement.

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Canada stocks higher at close of trade; S&P/TSX Composite up 0.72%

Investing.com

Investing.com – Canada stocks were higher after the close on Friday, as gains in the Energy, Materials and Real Estate sectors led shares higher.

At the close in Toronto, the S&P/TSX Composite added 0.72% to hit a new all time high.

The best performers of the session on the S&P/TSX Composite were Endeavour Silver Corp. (TSX:EDR), which rose 9.39% or 1.27 points to trade at 14.80 at the close. Meanwhile, West Fraser Timber Co Ltd (TSX:WFG) added 6.96% or 6.01 points to end at 92.36 and TerraVest Industries Inc (TSX:TVK) was up 6.73% or 10.56 points to 167.52 in late trade.

The worst performers of the session were Bausch Health Companies Inc (TSX:BHC), which fell 4.35% or 0.47 points to trade at 10.33 at the close. Equinox Gold Corp (TSX:EQX) declined 3.34% or 0.68 points to end at 19.66 and Bitfarms Ltd (TSX:BITF) was down 2.74% or 0.11 points to 3.90.

Rising stocks outnumbered declining ones on the Toronto Stock Exchange by 669 to 284 and 86 ended unchanged.

Shares in Endeavour Silver Corp. (TSX:EDR) rose to all time highs; gaining 9.39% or 1.27 to 14.80.

The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was down 0.25% to 12.11.

Gold Futures for February delivery was up 1.29% or 57.51 to $4,518.21 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February rose 1.89% or 1.09 to hit $58.85 a barrel, while the March Brent oil contract rose 1.74% or 1.08 to trade at $63.07 a barrel.

CAD/USD was unchanged 0.30% to 0.72, while CAD/EUR unchanged 0.11% to 0.62.

The US Dollar Index Futures was up 0.20% at 98.89.

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Mining Stocks Building Momentum in the Walker Lane Trend

Newsfile Corp.

How West Point Gold's 15,000m Drill Program, Advanced Exploration Projects and Funding Set the Stage for 2026 and Beyond

Vancouver, Kelowna, and Delta, British Columbia--(Newsfile Corp. - December 18, 2025) - Investorideas.com, a global news source and expert investing resource covering mining stocks, issues a snapshot looking at gold miners in the Walker Lane Trend, considered one of the hottest mining plays in the US, featuring West Point Gold Corp. (OTCQB: WPGCF).

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/6292/278458_185f7d39442bfbbb_001full.jpg

West Point Gold Corp. is focused on gold discovery and development at four prolific Walker Lane Trend projects covering Nevada and Arizona, USA. The Company is advancing a maiden resource at its Gold Chain project in Arizona, while JV partner Kinross Gold Corporation is progressing the Jefferson Canyon project in Nevada.

The Walker Lane trend is a major geological fault zone spanning Nevada, Arizona and California, currently seeing a significant resurgence in exploration for gold, silver, and copper deposits. This area has emerged as a prime exploration target owing to its high-grade mineralization, relatively lower exploration and processing costs compared to other major Nevada trends (such as the Carlin trend), and rising demand for domestic U.S. mineral resources.

With a portfolio of advanced exploration projects in the Walker Lane Trend, West Point Gold Corp. (OTCQB: WPGCF) reported in late November, the results from the initial two holes of the Tyro Northeast (NE) drilling campaign, part of the currently ongoing 10,000 metre (m) drill program at its flagship Gold Chain Project in Arizona. The Company is reporting assay results for two drill holes (457 m), GC25-80 and GC25-81.

From the news:

Highlights:

Hole GC25-81 returned 36.6 m of 7.35 g/t gold (Au) from 161.5 to 198.1 m, including 25.9 m of 9.95 g/t Au from 167.6 m to 193.5 m, 80 m below hole GC25-47, which returned 50.3 m of 3.76 g/t Au from 79.3 m, including 33.5 m of 5.46 g/t Au from 82.3 m.

Hole GC25-81 extends the higher-grade zone down dip, with the deepest reported intersection in that zone now approximately 175 m below the surface.

Hole GC25-80 intersected 44.2 m of 1.11 g/t Au from 157.0 m to 201.2 m, including 16.8 m of 2.43 g/t Au from 184.4 m to 201.2 m, below hole GC21-15, which returned 21.3 m of 2.00 g/t Au from 10.7 m.

On December 16th West Point Gold updated shareholders announcing recent warrant exercises and announced the expansion of its drill program to 15,000 metres (m) by adding a second drill rig.

Highlights of this Release:

Since September 30, 2025, a total of 6,271,071 warrants have been exercised for proceeds of C$3.0 million.

As at December 15, 2025, the Company's cash balance is C$7.2 million, up from C$6.4 million at September 30, 2025.

3,229 m have been drilled since drilling resumed in September 2025, results are pending for 1,594 m.

The Company has decided to expand the ongoing drill program to 15,000 m (was 10,000 m).

Second drill rig expected at site in early January 2026.

"The combination of our ongoing drilling success and better-than-expected balance sheet at this point in the program has us well-positioned to drill more aggressively in 2026. Our plan is to test Tyro South, a 1.2 km extension of the 1 km Tyro Main Zone, expand the Tyro Main Zone to depth, and test many of the other high-potential targets at Gold Chain," stated Derek Macpherson, President & CEO. "We would like to thank our many supportive shareholders who have exercised warrants over the last few months, putting us in this strong financial position."

Most recently, on December 17th West Point Gold announced the results for three holes from the high-grade zone at Northeast (NE) Tyro, part of the ongoing 15,000 metre (m) drill program at its flagship Gold Chain Project in Arizona. The Company is reporting assay results for three drill holes (658m), GC25-82 through GC25-84.

Highlights:

Hole GC25-84 returned 24.4 m of 5.92 g/t Au at 120.4 to 144.8 m, including 12.2 m of 10.51 g/t Au at 132.6 m to 144.8 m, 90 m below hole GC25-78 which returned 22.9 m of 1.63 g/t Au.

Hole GC25-83 returned 16.8 m of 8.30 g/t Au at 158.5 to 175.3 m, including 6.1 m of 17.61 g/t Au at 167.6 to 173.7 m about 45 m below GC25-49 (62.5 m of 4.73 g/t Au).

Drilling continues to explore the deeper portions of the high-grade zone at NE Tyro with four holes (936 m) completed with assays pending.

"Drilling at NE Tyro continues to return better than expected grades. Importantly, grades appear to be improving at depth as the veining coalesces, typical of low-sulphidation epithermal gold systems. These results continue to demonstrate continuity of high grades, expanding the high-grade zone to depth and along strike to the northeast. We expect these results to positively impact the grade profile and the overall scale of our upcoming maiden resource. Drilling continues at NE Tyro," stated Derek Macpherson, West Point Gold Corp.'s President and CEO.

Full news - https://ca.finance.yahoo.com/news/west-point-gold-expands-northeast-120000723.html

In a recent Exploring Mining Podcast Interview, Derek told host Cali Van Zant, "We have had a really good year, we are up 300% but we are just at the beginning of the cycle. We are working at putting out a maiden resource in 2026. While the Tyro Main Zone is an impressive target, you get more credit with a maiden resource."

"Beyond that we need to keep testing some of these other targets. We believe there is bigger potential at this project. There is lots of exploration upside. But for that to benefit our shareholders, we need to go out and prove that."

He also shared that the company will be drilling into the end of April, so drill results news will be coming out through now until May.

Watch the video:

Cannot view this video? Visit:

https://www.youtube.com/watch?v=I1yWlJLlZw4

Looking at some of the major producers in the Walker Lane Trend, Kinross Gold operates the large, past-producing Round Mountain mine, one of the most productive in the US, located within the trend.

According to their site, Kinross began operating the mine in 2003, and it has since become a continuous improvement leader in the Company's portfolio. Round Mountain poured its 15 millionth ounce in 2018.

Exploration and Development:

Decline development at Round Mountain Phase X is advancing well, with over 5,200 metres developed to date.

Extensive infill drilling has been completed, and engineering work and technical studies are also advancing well to support a production decision at Phase X. Kinross plans to provide the initial resource estimate, a project update, and an economics update for Phase X in Q1 2026.

Another junior in the area, Scorpio Gold Corporation (OTCQB: SRCRF) recently announced results from seven holes from its 2025 drilling program at the Manhattan District Project located in Nevada, USA, namely: (i) the final three holes from the Phase One program (25MN-020, 25MN-021 and 25MN-022) and (ii) the initial four holes from the Phase Two program (25MN-023, 25MN-024, 25MN-025 and 25MN-026). The results from holes 25MN-020 through 25MN-026 are tabulated in Table 1 and discussed below. Scorpio Gold has reported assays on 16 drillholes totalling 5,341 m in 2025.

Manhattan, located in the Walker Lane Trend of Nevada, USA, is road accessible and lies approximately 20 kilometers south of the Kinross Gold operating Round Mountain Gold Mine.

From the news:

"The results from this latest set of drill holes continue to reinforce what our team has believed from the outset: Manhattan is a district-scale opportunity with multi-million ounce potential, that already stands apart from its peers based on grade-something the market has yet to fully appreciate. Encountering new zones of mineralization both near surface and at depth speaks to the true scale of the system, as well as the continuity we are rapidly defining across multiple target areas.

"Several of these holes step out meaningfully from the existing resource model, and with multiple intercepts ending in mineralization, our confidence in a significantly expanded resource envelope continues to grow. Intervals such as 18.14 metres grading 1.52 g/t gold in hole 25MN-021, and 3.23 metres grading 9.95 g/t gold in hole 25MN-022, represent a previously unrecognized splay off the main Reliance Trend-one that may 'blow out' into thicker zones where it intersects favourable host horizons like the limestones and sandstones that dominate the caldera margin. This is a strong demonstration of near-resource prospectivity and the potential to materially expand the mineralized footprint at Mustang Hill and beyond."

Equinox Gold (NYSE American: EQX) owns the Mesquite and Castle mines, also located within the Walker Lane trend.

In August, Equinox Gold Corp. (NYSE American: EQX) announced that its Castle Mountain Mine Phase Two Project in California has been accepted into the United States Federal Permitting Improvement Steering Council's FAST-41 program. FAST-41 is a federal permitting framework designed to streamline environmental reviews, improve interagency coordination, and increase transparency. Acceptance into the program is expected to enhance regulatory certainty through a defined permitting schedule that may reflect reduced permitting timelines. Based on the permitting timeline posted to the FAST-41 project dashboard on August 8, 2025, the federal permitting process should be completed in December 2026.

From the news:

Darren Hall, CEO of Equinox Gold, stated, "Castle Mountain is a high-quality growth opportunity for Equinox Gold in a tier-one jurisdiction. Based on the March 2021 Feasibility Study, the project is expected to produce approximately 200,000 ounces of gold annually over a 14-year mine life, totaling 3.2 million ounces. With FAST-41 permitting status in place we've initiated study updates and project optimization to align with the permitting timeline and position the project for a timely construction decision. Once in production Castle Mountain will be a cornerstone asset, reinforcing our strategy of building a portfolio of long-life, low-cost mines in top-tier jurisdictions."

Castle Mountain is located in San Bernardino County, California, approximately 200 miles north of Equinox Gold's Mesquite Mine. Equinox Gold acquired Castle Mountain in December 2017 and operated a small open-pit heap leach gold mine from Q4 2020 to Q3 2024. The mine is currently performing re-leaching procedures while the Company advances permitting, engineering and optimization work. While the project is expected to operate within the existing approved mine boundary, the changes to previously analyzed effects, such as increased land disturbance within the mine boundary and increased water use, require modification to the Company's approved Mine and Reclamation Plan and an updated Environmental Impact Statement / Environmental Impact Report.

With momentum building as gold, silver and commodity prices reach record highs and US mining under Donald Trump becomes a major priority, plays like the Walker Lane Trend are getting a lot of buzz, especially with the juniors.

More info on West Point Gold Corp. (OTCQB: WPGCF)

https://www.investorideas.com/CO/WPG/

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Equinox Gold Corp Cut to Neutral From Outperform by CIBC World Markets

Dow Jones Newswires

Equinox Gold

-10.68%

Ratings actions from Baystreet: http://www.baystreet.ca

(17:05 GMT) Equinox Gold Corp Price Target Cut to C$21.50/Share From C$23.00 by CIBC World Markets

Ratings actions from Baystreet: http://www.baystreet.ca

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Equinox Gold Corp Price Target Cut to C$21.00/Share From C$22.50 by Cormark Securities

Dow Jones Newswires

Equinox Gold

-10.68%

Ratings actions from Baystreet: http://www.baystreet.ca

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Canada stocks lower at close of trade; S&P/TSX Composite down 0.14%

Investing.com

Investing.com – Canada stocks were lower after the close on Monday, as losses in the Energy, IT and Materials sectors led shares lower.

At the close in Toronto, the S&P/TSX Composite lost 0.14%.

The best performers of the session on the S&P/TSX Composite were Discovery Silver Corp (TSX:DSV), which rose 4.67% or 0.39 points to trade at 8.74 at the close. Meanwhile, Empire Company Ltd (TSX:EMPa) added 3.15% or 1.45 points to end at 47.50 and South Bow Corp (TSX:SOBO) was up 2.82% or 1.06 points to 38.62 in late trade.

The worst performers of the session were Perpetua Resources Corp (TSX:PPTA), which fell 6.85% or 2.72 points to trade at 36.96 at the close. Equinox Gold Corp (TSX:EQX) declined 4.99% or 1.01 points to end at 19.22 and Seabridge Gold Inc . (TSX:SEA) was down 4.52% or 1.86 points to 39.26.

Falling stocks outnumbered advancing ones on the Toronto Stock Exchange by 455 to 452 and 75 ended unchanged.

Shares in Discovery Silver Corp (TSX:DSV) rose to 5-year highs; up 4.67% or 0.39 to 8.74.

The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was down 1.70% to 11.55 a new 1-month low.

Gold Futures for February delivery was up 0.10% or 4.35 to $4,332.65 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February fell 1.38% or 0.79 to hit $56.45 a barrel, while the February Brent oil contract fell 1.28% or 0.78 to trade at $60.34 a barrel.

CAD/USD was unchanged 0.04% to 0.73, while CAD/EUR unchanged 0.05% to 0.62.

The US Dollar Index Futures was down 0.09% at 97.94.

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CMOC Shares Rise After Plan to Buy Brazilian Gold Mines for $1 Billion

Dow Jones Newswires

By Jason Chau

Shares of CMOC Group rose after the Chinese mining giant said it is purchasing several Brazilian gold mines from Canada's Equinox Gold in a deal worth over US$1 billion.

Under the agreement, CMOC Group will purchase all interests in Equinox's Aurizona mine, RDM mine and two Bahia mines, the Chinese company said Monday.

The deal includes an upfront payment of US$900 million, plus a contingency payment of up to US$115 million based on the mines' sales volume in the first year after the transaction, which is expected to close in the first quarter of 2026.

CMOC's Shanghai-listed shares rose more than 4% in the morning session on Monday before closing 2% higher, while its Hong Kong-listed shares rose over 3% before ending the day 0.6% higher.

CMOC's shares have rallied this year, with its A-shares more than doubling year to date, while the H-shares have more than tripled, reflecting strong market enthusiasm for the Shanghai-based miner.

CMOC Chairman Liu Jianfeng said the deal "showcases our conviction in gold and delivers on our strategy of pillaring the portfolio on copper and gold." The transaction will also grow CMOC's presence in South America, he said.

"We expect the acquisition of gold mines in operation will enrich CMOC's current mining asset portfolio and further increase exposure in gold," Citi analysts said in a note.

Write to Jason Chau at jason.chau@wsj.com

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