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EQUINOX GOLD TSX : EQX NYSE - A : EQX NEWS RELEASE Equinox Gold Reports 128,555 Ounces of Gold Sold in First Quarter 2021 On Track for Significant Production Growth from Development and Expansion Projects all dollar figures are in US dollars , unless otherwise indicated - May 5 , 2021 - Vancouver , BC Equinox Gold Corp. ( TSX : EQX , NYSE American : EQX ) ( " Equinox Gold " or the " Company " ) is pleased to announce its first quarter 2021 summary financial and operating results . The Company's unaudited condensed consolidated interim financial statements and related management's discussion and analysis for the three months ended March 31 , 2021 will be available for download shortly on SEDAR , on EDGAR and on the Company's website . The Company will host a conference call and webcast today commencing at 2:00 pm Vancouver time to discuss the Company's business strategy and objectives , first quarter results and activities underway at the Company's projects . Further details are provided at the end of this news release . Christian Milau , CEO of Equinox Gold , commented : " It's certainly been a busy start to the year with closing of the Premier Gold acquisition , subsequent integration of the Mercedes Mine and Greenstone Project into our portfolio , and increasing our interest in Greenstone to 60 % . We also commenced early works construction at Greenstone , Santa Luz construction is 30 % complete and on track for first gold early next year , the Los Filos expansion is underway and we are making good progress opening up the higher - grade Brownie deposit at Mesquite . " As guided , these key investments result in lower production and higher costs in the first half of the year , but we will see the benefits of this work in the third and fourth quarters as we access higher grade ore and will deliver significant growth in 2022 and future years as these new projects achieve production . We also strengthened our balance sheet with a C $ 75 million private placement and the sales of our small Pilar mine and a portion of our investment in Solaris Resources . " HIGHLIGHTS FOR THE THREE MONTHS ENDED MARCH 31 , 2021 Operational and financial • Completed more than four million work hours with three lost - time injuries across all sites Produced 129,233 ounces ( " oz " ) of gold • • Sold 128,555 oz of gold at an average realized gold price of $ 1,786 per oz • Total mine cash costs of $ 1,141 per oz and mine AISC of $ 1,482 per oz , which includes $ 70 and $ 22 per oz related to a write - down of inventory during higher - cost ramp up after resuming operations at Los Filos and a write - down of inventory at Pilar , respectively ( 1 ) • Earnings from mine operations of $ 44.2 million • Net income of $ 50.3 million or $ 0.21 per share • Adjusted net loss of $ 3.6 million or $ ( 0.02 ) per share , after adjusting for non - cash expenses ( 1,2 ) • Cash flow from operations before changes in non - cash working capital of $ 62.0 million ( $ 79.4 million after changes in non - cash working capital ) • Adjusted EBITDA of $ 60.5 million ( 1,2 ) • Expenditures of $ 41.3 million in sustaining capital and $ 38.8 million in non - sustaining capital ( 1 ) Net debt of $ 229.8 million at March 31 , 2021 ( including $ 278.9 million of in - the - money convertible notes ) ( 1 ) • Cash and cash equivalents ( unrestricted ) of $ 317.5 million at March 31 , 2021 Suite 1501 - 700 West Pender St. , Vancouver , BC Canada V6C 1G8 ir@equinoxgold.com +1 604.558.0560 www.equinoxgold.com