SEATTLE (Scrap Monster): Equinox Gold has agreed to sell its Brazilian operations in a landmark transaction valued at $1.015 billion, marking a major strategic shift toward North America.

The sale includes the company’s:

• Aurizona Mine

• RDM Mine

• Bahia Complex

The buyer is a CMOC Group subsidiary, with Equinox Gold set to receive $900 million in upfront cash at closing and a potential additional $115 million tied to future production performance. The deal is expected to close in Q1 2026, subject to regulatory approvals, and carries no financing conditions.

Strengthening the Balance Sheet

Management highlighted that the divestment will significantly enhance the company’s balance sheet:

• Repay $500 million term loan and $300 million Sprott loan

• Reduce the revolving credit facility

• Lower interest costs, immediately improving cash flow per share

Streamlined Portfolio

Following the transaction, Equinox Gold will focus on a simplified portfolio centered in Canada, the United States, and Nicaragua, with core assets including:

• Greenstone and Valentine mines – Canada

• Mesquite mine – California, USA

• El Limón and Libertad mines – Nicaragua

The company forecasts 2026 gold production of 700,000 to 800,000 ounces as key projects ramp up.

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Strategic Benefits

The divestment is expected to:

• Simplify the portfolio for more efficient operations

• Enhance self-funded growth opportunities

• Support disciplined capital allocation

• Focus on long-life, lower-risk assets in tier-one jurisdictions