Mr. Christian Milau reports

EQUINOX GOLD REPORTS FIRST QUARTER 2019 FINANCIAL RESULTS

Equinox Gold Corp. has released its first quarter 2019 summary financial and operating results. The company will release its unaudited condensed consolidated interim financial statements and related management's discussion and analysis for the three months ended March 31, 2019, later today. All dollar figures are in United States dollars, unless otherwise indicated.

Highlights for the three months ended March 31, 2019

Corporate highlights:

• No lost-time injuries at any of the company's sites;
• Increased mineral resources at both Mesquite and Aurizona;
• Cash and cash equivalents (unrestricted) at March 31, 2019, of $24-million.

Operational highlights:

• Produced 25,310 ounces of gold at Mesquite;
• Cash cost of $766 per oz sold and all-in sustaining costs (AISC) of $873 per oz sold;
• Sold 27,238 oz of gold generating revenue of $35.4-million;
• Earnings from mine operations of $9.9-million.

Development highlights:

• As at May 1, Aurizona construction complete and plant commissioning continuing;
• First ore processed through Aurizona SAG mill in late April with first gold pour expected in early May;
• Castle Mountain phase 1 detailed engineering substantially complete and ready to commence construction in the third quarter of 2019.

Recent developments:

• Closed the strategic investment by Mubadala Investment company of $130-million in convertible notes with a five-year term and a fixed interest rate of 5 per cent, convertible at $1.05 per share;
• Converted the $100-million Mesquite acquisition facility into a new $130-million corporate revolving credit facility;
• Repaid the $85-million Aurizona construction facility and the $20-million Mesquite acquisition facility.

Aurizona update

At the date of this press release, Aurizona construction is complete and plant commissioning is continuing. The Aurizona team has completed more than 1.8 million hours of construction with no lost-time injuries. Substation upgrades to support the increased power demand were completed and approved by the state utility in March, allowing for full energization of the plant. The crushing and conveyor systems are fully commissioned. SAG mill commissioning is well advanced, leach and CIP circuits are operating with slurry, and various other plant systems such as water, air and reagents are being brought up to full operational capacity. Many of the key plant systems have been handed over from the commissioning team to the operations team. First ore was processed through the SAG mill in late April and the first gold pour at Aurizona is expected in early May.

       MESQUITE OPERATING RESULTS FOR THE THREE MONTHS ENDED MARCH 31, 2019 
  
Operating data                               Unit    Three months ended March 31, 2019

Ore mined                                      Kt                                5,644
Waste mined                                    Kt                                7,299
Ratio of waste to ore                                                             1.29
Average gold grade stacked to leach pad       g/t                                 0.37
Gold produced                                  oz                               25,310
Gold sold                                      oz                               27,238
Unit cost analysis
Realized gold price                          $/oz                                1,299
Cash cost per ounce sold                     $/oz                                  766
All-in sustaining cost per ounce sold        $/oz                                  873

                 SELECTED CONSOLIDATED FINANCIAL RESULTS FOR THE 
                        THREE MONTHS ENDED MARCH 31, 2019
                    ($ in millions, except per-share amounts)
                   
                                                              Three months ended March 31,
                                                                        2019         2018
Revenue                                                                $35.4           $-
Operating costs                                                        (25.5)           -
Earnings from mine operations                                            9.9            -
Exploration                                                             (2.9)        (3.0)
General and administration                                              (3.1)        (3.4)
Income (loss) from operations                                            3.8         (6.4)
Other income (expenses)                                                 (7.3)         2.7
Net (loss) before taxes                                                 (3.5)        (3.7)
Tax expense                                                             (2.3)           -
Net (loss) from continuing operations                                   (5.8)        (3.7)
Net (loss) and comprehensive (loss)                                     (5.8)        (4.4)
Net (loss) per share from continuing operations attributable
to Equinox Gold shareholders, basic and diluted                       $(0.01)      $(0.01)

Additional information regarding the company's financial results, activities under way at Mesquite, Aurizona and Castle Mountain, and the company's long-term business strategy will be available in the company's Q1 financial statements and accompanying Q1 management's discussion and analysis, which will be available for download later today on the company's website and on SEDAR.

About Equinox Gold Corp.

Equinox Gold is a Canadian mining company with a multimillion-ounce gold reserve base, gold production from its Mesquite gold mine in California, and near-term production from two past-producing mines in Brazil and California. Commissioning is under way at the company's Aurizona gold mine in Brazil and the company is advancing its Castle Mountain gold mine in California with the objective of ramping up phase 1 operations in early 2020.

Qualified person

James (Jim) Currie, PEng, Equinox Gold's chief operating officer, and Scott Heffernan, MSc, PGeo, Equinox Gold's executive vice-president, exploration, are the qualified persons under National Instrument 43-101 for Equinox Gold, and have reviewed, approved and verified the technical content of this news release.

We seek Safe Harbor.