.

Equinox Gold Corp. (TSX: EQX, NYSE American: EQX)(“Equinox Gold” or the “Company”) is pleased to announce that the United States Bureau of Land Management (“BLM”) has issued a positive Record of Decision (“ROD”) for the South Railroad project in Nevada, USA (“South Railroad” or the “Project”), marking completion of federal permitting under the National Environmental Policy Act (NEPA) process.

With the ROD now issued, early works construction at South Railroad has begun. Applications for key state permits and water rights have also been submitted.

Jason Simpson, President of Equinox Gold, commented:

“Receiving the Record of Decision is a major milestone for the South Railroad project and advances our next phase of growth.

 

“The incremental production from South Railroad will be the first meaningful contributor towards our objective of adding 800,000 ounces of annual gold production from our organic development pipeline.

 

“Our Board of Directors had previously approved the start of construction, and with the Record of Decision now in hand, South Railroad is positioned for first gold production in 2028.

 

“We thank the Bureau of Land Management, Secretary of the Interior Burgum, the U.S. Administration, and the Permitting Council for their support of the Project, including its designation as a FAST-41 covered project, and for their commitment to responsible domestic mineral development.”

South Railroad will be an open-pit heap leach mine.

Based on the 2026 feasibility study, the Project is expected to produce an average 130,000 ounces of gold annually over the first five years of operation, and more than 100,000 ounces annually over the initial 10-year mine life.

Initial capital costs are estimated at $395 million, including $70-$80 million reflected in Equinox Gold’s updated 2026 Guidance.

The Project is situated within a larger 25,000-hectare land package along Nevada’s prolific Carlin Trend, which provides opportunities for resource growth and new discoveries.