Equinox Gold Shareholders Receive Positive Voting Recommendations for Business Combination with Calibre Mining

April 16, 2025

Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) (“Equinox Gold” or the “Company”) is pleased to announce that independent proxy advisory firms Institutional Shareholder Services Inc. (“ISS”) and Glass, Lewis & Co. (“Glass Lewis”) have issued positive voting recommendations to shareholders of Equinox Gold for the proposed business combination with Calibre Mining Corp. (TSX: CXB, OTCQX: CXBMF) (“Calibre”). The deadline for voting by proxy is 1:30 pm (Vancouver time) on April 22, 2025.

ISS and Glass Lewis both recommend that Equinox Gold shareholders vote FOR the resolution to issue Equinox Gold common shares (“Share Issuance Resolution”) pursuant to the business combination with Calibre, as announced on February 23, 2025 (“Arrangement”). The board of directors and management of both companies have also unanimously recommended that shareholders vote FOR the Arrangement.

Strategic Rationale for the Business Combination

Combining Equinox Gold and Calibre will create:

• A major diversified gold producer in the Americas: Potential for more than 1.2 million ounces¹ of annual gold production from a portfolio of mines in five countries in the Americas.
• The second largest gold producer in Canada: Greenstone Gold Mine and Valentine Gold Mine, two new long-life, low-cost, open-pit gold mines, are expected to produce collectively 590,000 ounces² of gold per year when at capacity.
• Exceptional growth profile: Additional production growth from the ramp-up of Valentine Gold Mine and a pipeline of development and expansion projects.
• Significant re-rate potential based on valuation of peers: Greater scale, lower risk, near-term production growth, and superior free cash flow relative to peers, providing significant revaluation potential.
• An industry-leading team: Proven track record of delivery and shareholder value creation led by Ross Beaty, and Blayne Johnson and Doug Forster of Featherstone Capital, who will all serve on the board of directors of the combined company. In total, six directors of Equinox Gold will serve on the board of directors of the combined company, including Ross Beaty and Greg Smith, and four directors of Calibre will serve on the board of directors of the combined company, including Blayne Johnson and Doug Forster. Greg Smith, the President and Chief Executive Officer of Equinox Gold, will continue as Chief Executive Officer of the combined company, and Darren Hall, the President and Chief Executive Officer of Calibre, will serve as the President and Chief Operating Officer of the combined company with full responsibility of the combined operations going forward.

The management information circular, outlining the background to and anticipated benefits of the business combination with Calibre, can be downloaded at www.equinoxgold.com/shareholder-events and from Equinox Gold’s profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar.

Shareholder Meeting

Equinox Gold’s Annual and Special Meeting of shareholders will be held at 1:30 pm (Vancouver time) on April 24, 2025. Equinox Gold shareholders of record at the close of business on March 18, 2025 can vote on the Share Issuance Resolution and other matters detailed in the management information circular and related materials for the meeting (“Meeting Materials”). Shareholders can vote their shares online, by telephone or by mail, or can attend the meeting and vote in person. Shareholders who cannot attend in person are invited to join an online webcast; however, the webcast is being provided for viewing purposes only. There will be no ability to vote via the webcast.

Attend in Person
Suite 200, 1133 Melville Street, Vancouver, BC

Attend Online
www.equinoxgold.com/shareholder-events

Shareholders who have not received the Meeting Materials, either by mail or by email from Computershare, should contact Computershare Investor Services Inc. at 1-800-564-6253 (North American toll free) or 1-514-982-7555 (International) or by email at service@computershare.com.

(1) Mid-point of Equinox Gold’s 2025 guidance plus mid-point of Calibre’s 2025 guidance, on a full-year basis, plus an additional 65,000 ounces with Greenstone at capacity and 200,000 ounces with Valentine at capacity. Does not include any production from Equinox Gold’s Los Filos Gold Mine or either company’s expansion projects.

(2) Average annual production as estimated in the most recent technical reports for each project, which are available for download on each company’s website and on SEDAR+.

Equinox Gold Contacts

Greg Smith, President & CEO
Rhylin Bailie, Vice President, Investor Relations
Tel: +1 604-558-0560
Email: ir@equinoxgold.com

NT4