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EQUINOX GOLD TSX : EQX NYSE - A : EQX NEWS RELEASE Equinox Gold Announces Agreement to Sell its Mercedes Gold Mine All dollar amounts are expressed in US $ December 17 , 2021 - Vancouver , BC - Equinox Gold Corp. ( TSX : EQX , NYSE American : EQX ) ( “ Equinox Gold " or the " Company " ) is pleased to announce that it has entered into a definitive agreement to sell its Mercedes Gold- Silver Mine in Mexico ( " Mercedes " ) to Bear Creek Mining Corporation ( TSXV : BCM ) ( " Bear Creek " ) ( the " Transaction " ) for aggregate consideration of : • $ 100 million in cash , payable as follows : • • $ 75 million on closing of the Transaction ; and $ 25 million payable within six months of closing of the Transaction . 24,730,000 common shares of Bear Creek valued at approximately $ 25 million based on current trading prices ; and a 2 % net smelter return payable on production from Mercedes . Christian Milau , CEO of Equinox Gold , commented : " We acquired Mercedes in April this year as part of our acquisition of Premier Gold Mines and the large - scale Greenstone Gold Project . Mercedes is non - core to Equinox Gold , representing 5 % of our 2021 production guidance and 2 % of our resources . The sale of Mercedes strengthens our balance sheet with $ 100 million as we focus on growth through expansion and development of our larger gold projects , including Greenstone . Equinox Gold will also become a significant shareholder in Bear Creek , continuing to participate in the success of Mercedes and in the future development of Bear Creek's Corani silver - lead - zinc deposit , one of the largest , fully - permitted silver deposits in the world . " The Transaction is subject to certain regulatory approvals including approval of the Mexican Comisión Federal de Competencia Económica and other customary closing conditions . The Transaction is expected to close in the first quarter of 2022 . About Equinox Gold Equinox Gold is a growth - focused Canadian mining company operating entirely in the Americas , with seven operating gold mines ( including Mercedes ) and a clear path to achieving more than one million ounces of annual gold production from a pipeline of development and expansion projects . Equinox Gold's common shares are listed on the TSX and the NYSE American under the trading symbol EQX . Further information about Equinox Gold's portfolio of assets and long - term growth strategy is available at www.equinoxgold.com or by email at ir@equinoxgold.com . Equinox Gold Contacts Christian Milau , Chief Executive Officer Rhylin Bailie , Vice President , Investor Relations Tel : +1 604-558-0560 Email : ir@equinoxgold.com Suite 1501 - 700 West Pender St. , Vancouver , BC Canada V6C 1G8 ir@equinoxgold.com +1 604.558.0560 www.equinoxgold.com