Equinox Gold Reports Q3 Results; Transformational Combination Begins to Deliver

VANCOUVER, British Columbia, Nov. 09, 2026 (GLOBE NEWSWIRE) -- Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) (“Equinox Gold” or the “Company”) is pleased to announce its financial and operating results for the third quarter of 2026 (“Q3 2026”). All dollar figures are in United States dollars unless otherwise noted.

Third Quarter 2026 Summary: * Gold production and sales: Produced 237,019 ounces and sold 248,484 ounces at an average realized gold price of $4,157 per ounce, generating record revenue of $1.0 billion. Q3 2026 production and sales include two months of attributable production from Musselwhite (Canada) and Camino Rojo (Mexico) following the closing of the business combination with Orla Mining Ltd. (“Orla”) on July 31, 2026. * Costs: Cash costs were $1,654 and all-in sustaining costs (“AISC”) were $2,091 per ounce of gold sold(1), representing a decrease of 9% and 4%, respectively, compared to Q2 2026. * Guidance: The Company remains on track to meet the low end of the updated annual production guidance range of 870,000 to 920,000 ounces and the high end of the AISC guidance range of $1,900 to $2,000 per ounce of gold sold. * Record quarterly adjusted EBITDA: Adjusted EBITDA for the quarter totaled $533.0 million(1), an increase of 49% compared to Q2 2026, and included the contribution from the first two months of ownership of Musselwhite and Camino Rojo. * Net income: Net income for the quarter was $62.5 million, or $0.06 per share, and adjusted net income was $199.3 million, or $0.19 per share(1). * Cash flow: Cash flow from operations before changes in non-cash working capital of $291.7 million, and mine-site free cash flow before changes in working capital of $398.3 million. * Balance sheet strength: The Company ended the quarter with $527.9 million of unrestricted cash and cash equivalents. Net cash at quarter end, excluding the 2023 convertible notes that were redeemed subsequent to quarter end, was $164.0 million, and liquidity was $1.2 billion(1,)(2). * Leadership transition: On July 31, 2026, the Company announced that Darren Hall would retire as Chief Executive Officer and Director of Equinox Gold, effective October 31, 2026. Jason Simpson assumed the role of President and Chief Executive Officer on November 1, 2026. * Continued return of capital to shareholders: Returned $35.3 million to shareholders during Q3 2026 through $9.0 million of share repurchases and $26.3 million of cash dividends. Year-to-date, as of November 6, 2026, the Company has repurchased 2,370,200 shares for approximately $27.7 million and paid $50.0 million in dividends. The dividend was increased by 50% in August 2026 to $0.09 per share annually. Jason Simpson, President and Chief Executive Officer of Equinox Gold, commented: “This quarter’s results are only a partial reflection of the transformation of Equinox Gold into an emerging senior gold producer following the completion of our combination with Orla partway through the quarter. Valentine increased gold production by 6% this quarter, supported by a 16% increase in mill feed grade that averaged over 1.8 g/t, and achieved September mill throughput 26% above nameplate capacity. Our operating priority as a leading Canadian gold producer is to translate progress at Valentine and Greenstone combined with Musselwhite into consistent production and stronger cash generation. We are on track to exceed one million gold ounces produced on a combined twelve-month basis, securing our position among senior producers. During the quarter, we commenced construction activities at South Railroad following the receipt of the Federal Record of Decision in August. South Railroad is set to become our next new mine with first gold targeted in the first half of 2028, and production averaging 130,000 ounces per year over the first five years of an initial 10 year mine life.”