Equinox Gold Corp. provided an update on construction progress at its Greenstone Project in Ontario, Canada. The Greenstone Project is being developed as a 60/40 partnership, respectively, by Equinox Gold and Orion Mine Finance Group and will be one of the gold mines in Canada, producing more than 400,000 ounces of gold annually for the first five years and more than five million ounces of gold over its initial 14-year mine life.

On schedudule -- The Greenstone Project is over 66% completend on schedule to pour gold in the firstst half of 2024. -- On budget -- The Greenstone Project remains on budget. At December 31, 2022, 71% of total capital costs had been contracted and $680 million (55%) of the $1.23 billion construction budget had been spent (100% basis).

Inflationary pressures have been mitigated through offsetting savings opportunities or absorbed through the $177 million contingency included in the construction budget. -- Facilities completed -- The construction team has completed the Ministry of Transportation (MTO) Patrol Yard, the Goldfield Creek diversion and the permanent effluent water treatment plant. The first four bays of the truck shop are complete and in use.

The 14-km natural gas pipeline is complete and ready for commissioning in Second Quarter 2023. -- Equipment delivery continues to support the construction schedule, with key equipment on site or enroute. -- Pre-production mining commenced ahead of schedule -- The first four mining haul trucks and the first shovel were commissioned during Third Quarter 2022 and mine pre-production activities got underway in September, ahead of schedule, with more than 2.5 million tonnes of material (ore, waste and overburden) mined to year-end 2022.