VANCOUVER, British Columbia, Aug. 5, 2026 (GLOBE NEWSWIRE) -- Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) (“Equinox Gold” or the “Company”) reported its financial and operating results for the second quarter of 2026 (“Q2 2026”). The Company’s unaudited condensed consolidated interim financial statements for the three and six months ended June 30, 2026, along with the related management’s discussion and analysis (“MD&A”), are available on the Company’s profile on SEDAR+ at www.sedarplus.ca, on EDGAR at www.sec.gov/edgar and on the Company’s website at www.equinoxgold.com. All financial figures are in U.S. dollars unless otherwise indicated.

Darren Hall, CEO of Equinox Gold, said: “With completion of the business combination with Orla Mining on July 31, we enter the second half of 2026 as North America’s new senior gold producer, with meaningfully greater production and cash flow, and one of the industry’s strongest organic growth profiles. The financial benefits of the combination will begin to be reflected in our third quarter results, with our focus on disciplined integration, operational execution and delivering the long-term value this transformational combination has created.”

Hall added that the second quarter showed continued improvement across the Company’s Canadian operations, with higher production at Greenstone and Valentine. At Valentine, high-grade reconciliation improved significantly versus the first quarter as operational initiatives gained traction, a trend that continued into July. He said the process plant continued to perform exceptionally well, consistently exceeding nameplate capacity, while improvements in mining performance supported higher-grade mill feed. Combined with Greenstone’s continued ramp-up and the addition of Musselwhite, the Company expects its Canadian portfolio to deliver higher production at lower unit costs through the second half of 2026.

He said Equinox Gold’s consolidated 2026 production guidance of 870,000 to 920,000 ounces of gold reflects 12 months of production from the Company’s existing portfolio and five months, from August through December, from assets acquired with Orla Mining. On a pro-forma basis, assuming a full 12 months of production from both companies, annual production is expected to be approximately 1.1 million ounces of gold in 2026.

The Board of Directors also approved construction of the Phase 2 expansion at Valentine, which the Company said reflects confidence in the operation and its approach to high-return organic growth. The expansion is expected to increase processing capacity to approximately 13,700 tonnes per day, or 5.0 Mtpa, and average annual gold production to approximately 223,000 ounces. Construction is expected to be completed in late 2028.

With the merger complete, the Board approved a 50% increase in the quarterly dividend, which the Company said reflects the strength of its balance sheet, its growing free cash flow generation and its commitment to shareholder returns while continuing to invest in organic growth opportunities.

Hall said the Company’s focus is to achieve operational excellence, allocate capital with discipline and execute its organic growth pipeline as North America’s new senior gold producer.

Q2 2026 Highlights

• Produced 176,836 ounces of gold, including 64,656 oz from Greenstone, 32,617 oz from Valentine, 18,572 oz from Mesquite, 59,476 oz from Nicaragua and 1,515 oz from Castle Mountain.
• Sold 177,959 ounces of gold from All Operations at an average realized gold price of $4,256 per oz.
• Reported cash costs of $1,816 per oz and all-in sustaining costs (“AISC”) of $2,175 per oz for All Operations.
• Generated cash flow before changes in non-cash working capital of $272.0 million.
• Reported mine-site free cash flow from All Operations before changes in non-cash working capital of $223.7 million.
• Recorded revenue of $769.8 million.
• Reported adjusted EBITDA from All Operations of $358.3 million.
• Recorded income from mine operations of $301.7 million.
• Reported net income of $230.6 million, or $0.29 per share on a basic basis.
• Reported adjusted net income from All Operations of $123.3 million, or $0.16 per share.
• Paid dividends of $11.8 million, or $0.015 per share, on June 5, 2026.
• Entered into an arrangement agreement to combine with Orla Mining to create a new North American senior gold producer with the capacity to produce approximately 1.1 million ounces of gold annually and a clear path to more than 1.9 million ounces of annual production from the combined portfolio of North American growth projects.
• Announced 20-year land access agreements with all three communities hosting the Los Filos Mine, enabling the gradual restart of heap leach operations while technical studies continue to assess potential expansion opportunities.

Subsequent Events

On July 7, 2026, the Company sold 8.7 million common shares in Versamet Royalties Corporation for gross proceeds of C$130 million ($92 million).

On July 31, 2026, Equinox Gold completed the business combination with Orla Mining and issued 378,115,579 common shares and paid $0.0001 per share in cash to former Orla Mining shareholders.

Darren Hall will retire from Equinox Gold effective October 31, 2026. Jason Simpson, former President and CEO of Orla Mining, joined Equinox Gold as President and will assume the role of CEO upon Hall’s retirement.

The Company said it enters its next chapter with a leadership team that includes Peter Hardie, Chief Financial Officer; Etienne Morin, Chief Capital Markets Officer; Andrew Cormier, Chief Operating Officer; Daniella Dimitrov, Chief Corporate Development, Sustainability and Risk Officer; Sylvain Guerard, Executive Vice President, Exploration; and Matthew MacPhail, Executive Vice President, Technical Services.

The Board of Directors consists of Chuck Jeannes (Chair), Lenard Boggio (Lead Director), Tamara Brown, Omaya Elguindi, Douglas Forster, Darren Hall, Blayne Johnson, Rob Krcmarov, Jason Simpson, David Stephens and Mike Vint. Ross Beaty will remain closely involved as Chair Emeritus and a Special Advisor.

On August 5, 2026, the Board approved construction of the Valentine Phase 2 expansion project with an initial capital budget of $436 million, including $54 million of contingency. Updated 2026 guidance includes $50 million to $60 million of growth capital related to the project, which was not included in the Company’s original 2026 guidance. Construction is expected to be completed in late 2028.

Also on August 5, 2026, the Board approved a 50% increase in the quarterly dividend to $0.0225 per common share, equal to an annualized dividend of $0.09 per common share. The dividend is payable on September 2, 2026 to shareholders of record at the close of business on August 19, 2026.

As of July 31, 2026, Equinox Gold had a pro forma net cash position of $214 million, excluding convertible debentures, and available liquidity of $1,214 million.

Updated 2026 Guidance Reflects Combined Company

Following completion of the business combination with Orla Mining on July 31, 2026, Equinox Gold said it is providing updated consolidated guidance for 2026 that reflects five months, from August through December 2026, of contribution from Musselwhite and Camino Rojo.

For comparative purposes, on a full-year pro forma basis assuming the Equinox Gold and Orla Mining business combination had been completed on January 1, 2026, consolidated 2026 production guidance would have been approximately 1.1 million ounces of gold.

The Company said updated 2026 guidance reflects year-to-date performance and expected production for the remainder of the year. It expects stronger production from its Canadian operations — Greenstone, Musselwhite and Valentine — in the second half of 2026, supporting improved consolidated AISC for the rest of the year.

Equinox Gold said it maintains strong margins, with updated consolidated cash cost guidance of $1,600 to $1,700 per ounce and AISC guidance of $1,900 to $2,000 per ounce. Cash cost and AISC guidance ranges by asset have been revised to reflect year-to-date results and the impact of higher fuel prices.

The Company will continue to advance its organic growth projects, with $105 million to $120 million of growth capital allocated to studies, engineering, procurement and construction. This includes $70 million to $80 million at South Railroad in the United States, where the Company anticipates receiving a Federal Record of Decision, a key permitting milestone, in August 2026, and $35 million to $40 million at Los Filos in Mexico. Updated guidance also includes $50 million to $60 million of growth capital for the Valentine Phase 2 expansion, which was not included in the Company’s original 2026 guidance. As a result, consolidated 2026 growth capital guidance is $600 million to $650 million.

Additional Information

Additional information about Equinox Gold’s financial and operating results is available in the Company’s Q2 2026 Financial Statements and accompanying MD&A, which are available on the Company’s website at www.equinoxgold.com, on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar.

The Company will host a conference call and webcast to discuss the results on Thursday, August 6, 2026, at 7:00 a.m. PT (10:00 a.m. ET). The webcast will be available for replay on Equinox Gold’s website until February 6, 2027.

Conference call: Toll-free in U.S. and Canada: 1-833-752-3366; International callers: +1 647-846-2813

Webcast login: Equinox Gold | Financials

About Equinox Gold

Equinox Gold (TSX: EQX, NYSE-A: EQX) is a Canadian mining company positioned as the new North American senior gold producer with a 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, the Company said it is focused on disciplined execution, operational excellence and long-term value creation. Equinox Gold said it offers investors exposure to gold through a diversified portfolio and a clear path to growth. Learn more at www.equinoxgold.com or contact ir@equinoxgold.com.

Equinox Gold Contact

Etienne Morin, Chief Capital Markets Officer
E: etienne.morin@equinoxgold.com
T: +1 604.260.0516

Ingrid Rico, SVP Capital Markets
E: ingrid.rico@equinoxgold.com
T: +1 604.260.0516

Non-IFRS Measures

In this news release, cash costs, cash costs per oz sold, AISC, AISC per oz sold, adjusted net income, adjusted EPS, mine-site free cash flow, adjusted EBITDA, net debt and sustaining capital expenditures are non-IFRS measures and may not be comparable with similarly labeled measures used by other companies. These measures are intended to provide additional information and should not be considered in isolation or as a substitute for IFRS measures.

Forward-Looking Statements

This news release includes forward-looking information and forward-looking statements within the meaning of applicable securities laws, including future-oriented financial information and financial outlook information. Actual results may differ materially from those discussed in the forward-looking information.

Forward-looking information in this news release includes, among other things, the expected benefits of the combination with Orla Mining; updated 2026 guidance; Valentine Phase 2 expansion plans; the timing of the Federal Record of Decision for South Railroad; the restart and expansion opportunities at Los Filos; management transitions; advancement of South Railroad, Los Filos, Castle Mountain and Camino Rojo; and the Company’s goal of creating long-term shareholder value.

Forward-looking information is based on a number of assumptions, including the achievement of expected transaction benefits, exploration, production, cost and development goals; achievement of design capacity at Greenstone and Valentine; successful implementation of the Valentine Phase 2 expansion; the restart of Los Filos; timely receipt of South Railroad permitting; stable gold prices and input costs; availability of funding; accuracy of Mineral Reserve and Mineral Resource estimates; dividend-related assumptions; adherence to mine plans and schedules; expected ore grades and recoveries; absence of labour disruptions or unplanned delays; constructive relationships with workers, unions and communities; timely receipt of permits and regulatory approvals; geopolitical stability; compliance with environmental and safety regulations; and constructive engagement with Indigenous and community partners.

Forward-looking information is subject to numerous risks and uncertainties that may cause actual results to differ materially from those expressed or implied. These risks include those described in the Company’s Management Information Circular dated June 19, 2026, the MD&A dated February 20, 2026 for the year ended December 31, 2025, and the “Risks Related to the Business” section in Equinox Gold’s most recently filed Annual Information Form, each available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar.

Except as required by applicable law, the Company undertakes no obligation to update forward-looking information. All forward-looking information in this news release is expressly qualified by this cautionary statement.

Technical Information

The scientific and technical information in this news release was approved by Matthew MacPhail, P.Eng., Executive Vice President, Technical Services for Equinox Gold, who is a Qualified Person under National Instrument 43-101.