Mr. Etienne Morin reports

EQUINOX GOLD RECEIVES POSITIVE RECORD OF DECISION FOR SOUTH RAILROAD; SIGNIFICANT PERMITTING MILESTONE UNLOCKS NEXT NORTH AMERICAN GROWTH PROJECT

The U.S. Bureau of Land Management (BLM) has issued a positive record of decision (ROD) for Equinox Gold Corp.'s South Railroad project in Nevada, United States, 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-million to $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.

Construction milestones for remainder of 2026

Several key construction milestones targeted for completion this year include:

• Work force ramp-up: As part of operational readiness, hiring and onboarding of site operations team are advancing through the second half of this year.
• Detailed engineering: Engineering is 55.2 per cent complete.
• Ordering and procurement: Major contracts for power generation, process plant equipment, concrete and structural steel have been awarded.
• Construction acceleration: Early works commenced earlier this summer on the north access road outside of the BLM plan of operations in co-ordination with Elko County, Nevada. Earthworks and major civil construction activities have commenced following the receipt of the ROD.
• Equipment: Mining equipment will begin arriving on site at year-end, with initial mining activities scheduled to start in the spring of 2027.

About Equinox Gold Corp.

Equinox Gold is a Canadian mining company positioned as the new North American senior gold producer with a strong foundation of high-quality, long-life gold operations in Canada and across the Americas and a pipeline of development and expansion projects. Guided by a seasoned leadership team with broad expertise, the company is focused on disciplined execution, operational excellence and long-term value creation. Equinox Gold offers investors meaningful exposure to gold with a diversified portfolio and clear path to growth.

Qualified person and technical information

The scientific and technical information contained in this news release was approved by Andrew Cormier, chief operating officer for Equinox Gold and a qualified person under National Instrument 43-101.

For additional information regarding the South Railroad project, please refer to the technical report titled "South Railroad Project NI 43-101 Feasibility Study Update, Elko County, Nevada," dated Feb. 27, 2026, with an effective date of Sept. 30, 2025, which is available on the company's website.

We seek Safe Harbor.