Equinox ups gold production 12% in third quarter, says on track to achieve annual guidance

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(Kitco News) - Equinox Gold (TSX: EQX, NYSEAmerican: EQX) reported today that the company produced 139,758 ounces of gold inQ3 2021, an increase of 12% over 124,867 ounces produce in Q3 2020.

The company said itrecognized revenue of $245.1 million on sales of 137,144 ounces of gold comparedto revenue of $244.5 million on sales of 128,437 ounces of gold in Q3 2020.

Equinox added that theincrease in ounces sold from Q3 2020 to Q3 2021 is mainly due to increasedproduction at Aurizona as the change to dry season conditions allowed forincreased material movement and access to higher grade material deeper in thepit, and increased production at Los Filos as full operations resumed in lateJuly following the resolution of two blockades.

The company also reported a netloss of $5.2 million or $0.02 per share in Q3 2021, compared to a net income of$3.2 million in Q3 2020. However, Equinox posted adjusted net income of $6.7million or $0.02 per share in Q3 2021, after adjusting for certain non-cashexpense items.

Looking ahead, Equinox saidit is on track to achieve its 2021 guidance and expects to realize significantproduction growth in 2022 as the company continues to access higher-grade oreat Los Filos and commence production at Santa Luz, which will be Equinox'seighth operating mine.

CEO Christian Milau commented,"Production continues to increase as we see the benefits of investment at themine sites during the first half of the year. While increased production fromLos Filos and the Brazil mines anchored a strong third quarter for EquinoxGold, approximately one-third of 2021 production will come in the fourthquarter, with more than 65,000 ounces of gold already produced during the monthof October."

"We remain focused on ourgrowth strategy to produce more than one million ounces of gold per year andbecome the industry's premier Americas gold producer," he added.

Equinox Gold is a Canadianmining company operating entirely in the Americas, with seven operating goldmines and a plan to achieve more than one million ounces of annual goldproduction from a pipeline of development and expansion projects.

By Vladimir Basov

For Kitco News

Follow kitconewsnow vbasov@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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