Equinox Gold is a Canadian mining company with a multi-million-ounce gold reserve base and near-term and growing gold production from two past-producing mines. Construction is well advanced at the Company’s Aurizona Gold Mine in Brazil with the target of pouring gold by year-end 2018, and the Company is advancing its Castle Mountain Gold Mine in California with the objective of commissioning Stage 1 operations by the end of 2019. On September 19, 2018, the Company announced its intention to acquire the producing Mesquite Gold Mine in California. Further information about Equinox Gold’s current portfolio of assets and long-term growth strategy is available at www.equinoxgold.com or by email at ir@equinoxgold.com.

1. 0
Creating a Major
Gold Producer
September 20, 2018

2. 1
Forward-looking information and
reserve/resource estimatesCAUTIONARY STATEMENTS
Forward-looking Statements
This presentation includes certain statements that constitute "forward-looking statements", and "forward-
looking information" within the meaning of applicable securities laws (collectively, “forward-looking
statements"). These statements appear in a number of places in this presentation and include statements
regarding our intent, or the beliefs or current expectations of our officers and directors. Such forward-
looking statements involve known and unknown risks and uncertainties that may cause our actual results,
performance or achievements to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements. When used in this presentation
words such as “intends”, “expects”, “will be”, “underway”, “targeted”, “planned”, “objective”, “expected”,
“potential”, “continue”, “estimated”, “would”, “subject to” and similar expressions are intended to identify
these forward-looking statements. Forward-looking statements made herein include statements derived
from the prefeasibility study on the Castle Mountain Project and from the feasibility study on the Aurizona
Project, including, without limitation: estimated construction costs, operating costs, cash costs, all-in
sustaining cost ("AISC") per ounce, initial and sustaining capex and other costs, estimated net present
value ("NPV"), initial rate of return ("IRR"), expected life of mine ("LOM"), estimated reserves and
resources, expected production rates, expected timing of production, expected gold recoveries, and other
economic and operational parameters inherent to a feasibility study or prefeasibility study for a mineral
project. In addition, this presentation may include forward-looking statements relating to statements
regarding the anticipated restart of production at Aurizona and the anticipated restart of production at
Castle Mountain. This presentation also includes forward-looking statements relating to the expected
timing and completion of the acquisition of the Mesquite Gold Mine and the anticipated benefits therefrom,
including statements regarding: the timing of entering into a definitive acquisition agreement and closing;
annual production goals or forecast production; forecast all-in sustaining costs (“AISC”) and cash costs;
changes to enterprise value on a post-acquisition basis; the benefits of the acquisition of the Mesquite
Gold Mine; operating synergies, including from proximity to the Castle Mountain Project; and accretion to
financial metrics. Although Equinox Gold (the “Company”) believes that the expectations reflected in such
forward-looking statements and/or information are reasonable, undue reliance should not be placed on
forward-looking statements since the Company can give no assurance that such expectations will prove to
be correct. These statements involve known and unknown risks, uncertainties and other factors that may
cause actual results or events to differ materially from those anticipated in such forward-looking
statements, including the risks, uncertainties and other factors identified in the Company's periodic filings
with Canadian securities regulators, and assumptions made with regard to: the estimated costs associated
with construction of Aurizona; the ability to restart production at Aurizona; the timing of the anticipated
restart of production at Aurizona; the ability to achieve the gold production rates and costs outlined in the
Aurizona feasibility study; the ability to restart production at Castle Mountain; the timing of the anticipated
restart of production at Castle Mountain; the ability to achieve the gold production rates and costs outlined
in the Castle Mountain prefeasibility study; the ability to advance exploration efforts at Aurizona and Castle
Mountain; the results of exploration efforts at Aurizona and Castle Mountain; the entry into of definitive
documentation for the financings for the acquisition of the Mesquite Gold Mine and the timing and
completion of the transaction; the acquisition of the Mesquite Gold Mine is subject to customary regulatory
approvals, including approval of the TSX Venture Exchange; satisfaction of the conditions precedent set
out in definitive documentation for the acquisition and financings; receipt of the proceeds of the financings;
and the ability to realize upon operating synergies. These forward-looking statements are based largely on
current expectations and projections about future events and financial trends affecting the financial
condition of our business. These forward-looking statements were derived using numerous assumptions
regarding expected project parameters, results of operations, performance and business prospects and
opportunities that could cause actual results to differ materially from those in the forward-looking
statements. While the company considers these assumptions to be reasonable, based on information
currently available, they may prove to be incorrect. Forward-looking statements are based on information
available at the time those statements are made and/or management's and/or its qualified persons' good
faith belief as of that time with respect to future events, and are subject to information currently available,
they may prove to be incorrect. Forward-looking statements are based on information available at the time
those statements are made and/or management's and/or its qualified persons' good faith belief as of that
time with respect to future events, and are subject to known and unknown risks and uncertainties outlined
in the Company's corporate disclosure and other documents filed on www.sedar.com, that could cause
actual performance or results to differ materially from those expressed in or suggested by the forward-
looking statements. Forward-looking statements speak only as of the date those statements are made.
Except as required by applicable law, we assume no obligation to update or to publicly announce the
results of any change to any forward-looking statement contained herein to reflect actual results, future
events or developments, changes in assumptions or changes in other factors affecting the forward-
looking statements. If we update any one or more forward-looking statements, no inference should be
drawn that we will make additional updates with respect to those or other forward-looking statements. You
should not place undue importance on forward-looking statements and should not rely upon these
statements as of any other date. All forward-looking statements contained in this presentation are
expressly qualified in their entirety by this cautionary statement.
Technical Information. David Laing, BSc, MIMMM, Equinox Gold’s COO, is the Qualified Person under
NI 43-101 for Equinox Gold and has reviewed, approved and verified the technical content of this
presentation. All technical information related to Aurizona is based on the “Feasibility Study on the
Aurizona Gold Mine Project” prepared by Lycopodium Minerals Canada Ltd. with an effective date of July
10, 2017 which is available for download on SEDAR at www.sedar.com. All technical information related to
Castle Mountain is based on the “NI 43-101 Technical Report on the Preliminary Feasibility Study for the
Castle Mountain Project” prepared by Kappes, Cassiday and Associates with an effective date of July 16,
2018, which is available for download on SEDAR at www.sedar.com. All technical information related to
the Mesquite Gold Mine is based on the “Technical Report on the Mesquite Mine, Imperial County,
California, U.S.A.” prepared by Rosco Postle Associates Inc. for New Gold Inc. dated February 28, 2014,
a copy of which is available under New Gold Inc.’s profile on SEDAR; to the best of the Company’s
knowledge, information and belief, there is no new material scientific or technical information that would
make the disclosure of mineral reserves misleading.
Cautionary Note to U.S. Investors Concerning Estimates of Mineral Resources. These estimates
have been prepared in accordance with the requirements of Canadian securities laws, which differ from
the requirements of U.S. securities laws. The terms "mineral resource", "measured mineral resource",
"indicated mineral resource" and "inferred mineral resource" are defined in NI 43-101 and recognized by
Canadian securities laws but are not defined terms under the U.S. Securities and Exchange Commission
("SEC") Guide 7 ("SEC Guide 7") or recognized under U.S. securities laws. U.S. investors are cautioned
not to assume that any part or all of mineral deposits in these categories will ever be upgraded to mineral
reserves. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and great
uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an
"inferred mineral resource" will ever by upgraded to a higher category. Under Canadian securities laws,
estimates of "inferred mineral resources" may not form the basis of feasibility or pre-feasibility studies.
U.S. investors are cautioned not to assume that all or any part of an inferred mineral resource exists or is
economically or legally mineable. Accordingly, these mineral resource estimates and related information
may not be comparable to similar information made public by U.S. companies subject to the reporting and
disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder,
including SEC Guide 7.
Non-GAAP Measures. This presentation refers to expected AISC per ounce and cash costs per ounce
which are non-GAAP measures. These measurements have no standardized meaning under IFRS and
may not be comparable to similar measures presented by other companies. These measurements are
intended to provide additional information and should not be considered in isolation or as a substitute for
measures of performance prepared in accordance with IFRS. Cash costs include mine site operating
costs, but are exclusive of amortization, reclamation, capital and exploration costs and net of by-product
sales and then divided by ounces sold to arrive at cash costs per ounce. AISC per ounce starts with total
cash costs and adds net capital expenditures that are sustaining in nature, general and administrative
costs, capitalized and expensed exploration that is sustaining in nature and environmental reclamation
costs, all divided by ounces sold to arrive at AISC per ounce. Management believes these measures are
commonly used in the gold mining industry and are useful for monitoring the performance of operations
and the ability of mines to generate positive cashflow.
All dollar amounts are in USD unless otherwise noted. Numbers may not add due to rounding.

3. 2
AURIZONA GOLD
MINE, BRAZIL
Construction 75% complete
MESQUITE GOLD
MINE, CALIFORNIA
Avg 135 Koz last 10 years
CASTLE MOUNTAIN
GOLD MINE,
CALIFORNIA
Production in 2020
CREATING A MAJOR GOLD PRODUCER
1. EQX existing reserves from Aurizona and Castle Mountain, plus Mesquite reserves.
2. EQX cash and marketable securities at Q2 June 30, 2018.
3. Pro forma cash and marketable securities after Mesquite Acquisition and Concurrent Financing.
4. Based on shares outstanding and share price at September 18, 2018.
5. Pro forma market cap.
Multi-asset company with
strong gold production growth CURRENT PRO FORMA
4.5 Moz GOLD
2P RESERVES
5.7 Moz GOLD 1
EXPANSION POTENTIAL
PRODUCTION
136 Koz/year
NEAR TERM
IMMEDIATE PRODUCTION
POTENTIAL >300 Koz/year
WITH ADDITIONAL GROWTH
~$65 M
CASH 2
~$97 M
FUNDED NEAR-TERM GROWTH 3
~C$475 M
MARKET CAP 4
~C$575 M 5
13% INSIDER OWNERSHIP

4. 3
MESQUITE Acquiring a Producing Gold Mine
EQUINOX GOLD HAS ENTERED INTO AN AGREEMENT TO ACQUIRE
THE MESQUITE GOLD MINE FOR $158 M

5. 4
CATALYST FOR
RE-POSITIONING
IMMEDIATE
CASH FLOW
IMMEDIATE
PRODUCTION
IMPROVED GOLD
PROFILE
TRANSFORMATIVE
ACQUISITION
FULLY FUNDED
& SUPPORTED
2018 New Gold production guidance of 140-150 Koz gold 1
Will add to 136 Koz Aurizona annual production commencing in 2019 2
Average all-in-sustaining costs of ~$870/oz over the last 10 years
Long-term stable producer
Immediate producer status with expanded reserves
Accelerated growth towards +500 Koz / year production target
25% increase to 2P Reserves, 40% increase to M&I Resources
Addition of established operating asset in low-risk jurisdiction
$158 M purchase price3 funded via $120 M debt and $75 M equity
Equity raise fully subscribed and backstopped by key shareholders and banks
Transaction accretive across all key metrics
Additional upside from operational improvements and exploration
ACCRETIVE ACQUISITION Disciplined execution on growth strategy
1. Based on New Gold 2018 guidance. 2. First gold pour targeted for year-end 2018. 3. Excludes bonding, working capital and Transaction costs. See Transaction Sources & Uses.

6. 5
• Multi-mine producer in 2019 with production from both Aurizona and Mesquite
− Three mines in production in 2020 with Castle Mountain Phase 1 commencing production
− Castle Mountain Phase 2 adds an additional +150 Koz starting in 2023
Source: company filings
1. As per midpoint of New Gold’s 2018 production guidance range
2. Based on Castle Mountain Phase 1 (Years 1 - 3)
NEAR-TERM PRODUCTION POTENTIAL (2018 - 2022) (Koz Au)
IMMEDIATE PRODUCTION, STRONG NEAR-TERM GROWTH
136
281
326
+145
+45
Aurizona Avg. LOM
Production
Mesquite 2018F
Production
Pro Forma Potential Near-
Term Production
Castle Mountain
Phase 1
Pro Forma Potential
Near-Term Production
2018 / 2019 2020 - 2022
1 2

7. 6
• Open-pit run-of-mine (“ROM”) heap leach gold mine in California
• Operating since 1985 with 4 Moz gold produced
• Proven operating team and history with an attractive and well-understood cost structure
10-YEAR HISTORY
Average ~135 Koz /year
~$870/oz AISC
2018 GUIDANCE 1
140-150 Koz
$1,005-$1,045/oz AISC
H1-2018 ACTUALS
Produced 65 Koz
$865/oz AISC
MESQUITE GOLD MINE Asset overview
1. New Gold 2018 guidance. 2. Resources are exclusive of reserves.
RESERVES / RESOURCES 2
2P: 1.1 Moz @ 0.54 g/t Au
M&I: 1.2 Moz @ 0.46 g/t Au

8. 7
STRATEGIC LOCATION
• Stable producing asset in low-risk
Western U.S. mining jurisdiction
• 200 miles south of Castle Mountain
• Strengthens Equinox Gold’s regional presence
• Numerous potential regulatory, social, permitting,
operating and administrative synergies
EXPERIENCED WORKFORCE
• Highly experienced open-pit ROM heap leach
operations team
• Leverage extensive California operations
experience as Castle Mountain advances
OTHER BENEFITS
• Enhanced purchasing power
• Long-term opportunities for the combined
workforce
• Equipment transferability
CALIFORNIA
NEVADA
Los Angeles
Las
Vegas
San Diego
Round Mountain
(50% Kinross /
50% Barrick)
North Bullfrog
(Corvus)
Castle
Mountain
Mesquite
Operating Mine
Development Project
City
Aurizona
Corporate
Head Office
OPERATIONAL SYNERGIES

9. 8
111
150
169
158
142
107 107
135
111
169
145
$605 $628
$762 $768
$1,108
$1,266
$1,156
$979
$817
$1,025
($200)
$300
$800
$1,300
$1,800
$2,300
$2,800
(10)
10
30
50
70
90
110
130
150
170
190
2008A 2009A 2010A 2011A 2012A 2013A 2014A 2015A 2016A 2017A 2018F
• Consistent track record of profitable operations
• Well-understood, simple ROM heap leach operation
• Experienced heap leach operating team with excellent social license
HISTORICAL MESQUITE PRODUCTION AND AISC (Koz Au | $/oz)
Source; New Gold disclosure and filings. Note: 2008 AISC information not disclosed
1. As per midpoint of New Gold’s 2018 production and AISC guidance range
1
Gold Production AISC
Avg. Annual Production:
135 koz
STRONG TRACK RECORD History of steady gold production

10. 9
AURIZONA Gold pour end 2018
$65 M
AVG. ANNUAL CASH
FLOW
$754/oz
AISC
136 Koz
GOLD PER YEAR
2,250 km2
LAND PACKAGE
TO EXPLORE

11. 10
CONSTRUCTION PROGRESS
SITE PROGRESS MINING ACTIVITIES & ORE STOCKPILING
DETOX TANKS – OCT 2017
Ore stockpiling underway
January 2018
September 2018

12. 11
NEAR-MINE EXPLORATION UPSIDE
Confirmed
extension of
mineralization up to
350 m to west, new
discoveries to east
Tatajuba drilling
extended gold
zone up to 150 m
below surface
Resource update in
2018 incorporating
drilling from Piaba
West and below
western end of
Piaba Pit
PIABA OPEN PIT
TATAJUBA TARGET
PIABA WEST
PIABA NORTH
GENIPAPO MESTRE
CHICO
MICOTE
Tatajuba strike similar to Piaba,
grades similar or higher: 1
• 13.74 g/t Au/ 35 m (D169)
• 2.71 g/t Au/ 56 m (D114)
• 1.42 g/t Au/ 34 m (D251)
High-grade near-surface
discoveries east of Piaba:
• 1.18 g/t Au/ 60 m (D631)
• 1.89 g/t Au/ 13 m (D546)
• 3.28 g/t Au/ 9 m (D554)
• 84.3 g/t Au/ 21 m (D612) 2
0 1 km
5 km
TATAJUBA EXTENSION TO DRILL
971 Koz
RESERVES @ 1.52 G/T AU 3
1.4 Moz
M&I RESOURCE @ 1.6 G/T AU 3
1. All drill results have been press released and are available at www.equinoxgold.com and www.sedar.com. 2. Exploration
composites are calculated on uncapped assay values. The samples are from the saprolite zone where surficial processes can
significantly enrich gold content. Applying the 40 g/t Au cap that was used for saprolitic material in the Piaba resource estimate
would change the interval to 5.29 g/t Au over 21.0 m. 3. Resources are inclusive of reserves. See Aurizona Reserve/Resource
Estimate and Cautionary Notes.
Expansion potential
along strike
Near-mine targets within
2,250 km2 land package

13. 12
SIGNIFICANT UNDERGROUND POTENTIAL
• Underground resource: 5,090 kt @ 2.99 g/t Au for 490,000 ounces Au
• Current mine plan contemplates mining to only 200 m, continuing to
intersect mineralization up to 500 m below surface
• Significant future potential for an underground mine
OPEN
OPEN
OPEN
OPEN
2 g/t shell outside $1400 Resource Pit
2 g/t shell outside Reserve Pit and
within $1400 Resource Pit
OPEN PIABA RESERVE PIT
MULTI-DECADE UNDERGROUND POTENTIAL TO STUDY

14. 13
CASTLE MOUNTAIN Construction mid-2019
203 Koz
GOLD PER YEAR 1
16 Year
MINE LIFE
3.6 Moz
P&P RESERVES
1. Phase 2 average annual production.
$763/oz
AISC

15. 14
TWO-PHASE STRATEGY
Oro
Belle
Pit
Jumbo
Pit
JSLA
Pit
South
Domes
East
Ridge
Key permits in place for Phase 1 production
Ore stacking and commissioning end of 2019
PHASE 2
(yrs 4-16)
PHASE 1
(yrs 1-3)
LARGE GOLD
RESOURCE
• 3.6 Moz P&P gold reserves
• 4.3 Moz M&I gold resource (inclusive)
• 2.2 Moz Inferred gold resource
• Significant expansion potential
• Run-of-mine heap leach of lower-grade
JSLA stockpile material
• Key permits in place
• 45,000 oz gold/year for 3 years
• Commissioning end of 2019
• Full production with run-of-mine heap
leach and milling of higher-grade ore
• Update permits for expansion
• Permit additional water supply
• 203,000 oz gold/year for 13 years

16. 15
CASTLE MOUNTAIN SITE PLAN
Full mine-life footprint stays within
existing approved mining boundary
CASTLE
MOUNTAIN

17. 16
ROBUST ECONOMICS Long-life low-cost gold mine
$406 M
NPV5% AFTER TAX
203 koz
AVG. GOLD PER
YEAR (PHASE 2)
3.6 Moz
2P RESERVES
$865 M
LOM CASH FLOW
AFTER-TAX
16 year
INITIAL MINE LIFE
2.8 Moz
LOM PRODUCTION
AISC $763/oz
LOWEST INDUSTRY QUARTILE
Mining: $1.39/t mined
Processing: $2.11/t processed
G&A: $0.80/t processed

18. 17
EQUINOX GOLD Enhanced Market Position
GROWTHCASH FLOWPRODUCTION

19. 18
SIGNIFICANTLY ENHANCED GOLD RESOURCES
M&I RESOURCES 1
(Moz)
2P RESERVES 1
(Moz)
Note: analysis excludes Elk Gold; Source: company filings, street research
1. Mineral resources are reported inclusive of mineral reserves. Mineral reserve and resource estimates for Mesquite as reported by New Gold as of December 31, 2017 and prepared in accordance with NI 43-101.
Equinox Gold is not treating these historical estimates as current and has not completed sufficient work to classify the historical estimate as current mineral reserves or mineral resources for Equinox Gold’s purposes.
1.0
3.6
1.1
Pro Forma
4.5
5.7
+ 25% Increase to
2P Reserves
1.4
4.3
2.3
Pro Forma
5.8
8.1
+ 40% Increase to
M&I Resources
Aurizona Castle Mountain Equinox Gold Mesquite Gold Mine

20. 19
SECTOR RE-POSITIONING POST ACQUISITION
Source: Bloomberg, company filings, S&P Global Market Intelligence; Note: numbers may not add due to rounding
1. Increased resources post May 2018 Brio acquisition
2. Calculated based on purchase price of $158M; EV includes $75M of existing debt, $100M of new bank debt, $20M of debt and financial / legal fees incurred as part of the Transaction.
GOLD RESERVES AND RESOURCES (Moz Au)
$580
$535
$440
$385 $370 $370 $365 $355
$260
$220 $215
Leagold
Mining
Proforma TMAC Atlantic Gold Guyana
Goldfields
Equinox Gold Dundee
Precious
Wesdome Gold
Resource
Corp
Argonaut
Gold
Premier Gold
5.6
4.5
5.7
3.0
4.0
2.7
4.5
3.6
0.5
1.6
5.2 2.4
3.7 2.3
3.1
1.2
1.3
2.2 0.2
9.7
8.1
6.7
6.3
5.8 5.8
4.9
2.7
1.8
0.4
Leagold
Mining
Corporation
Argonaut
Gold Inc.
EQX+
Mesquite
Premier Gold
Mines Limited
Guyana
Goldfields
Inc.
Dundee
Precious
Metals Inc.
Equinox Gold
Corp.
TMAC
Resources
Inc.
Wesdome
Gold Mines
Ltd.
Atlantic Gold
Corporation
Gold
Resource
Corporation
+ Mesquite
ENTERPRISE VALUE ($M)
+ Mesquite
Reserves Additional M&I Resources
18.4
1
2
2
12.8

21. 20
• Re-positioned within the sector as a multi-mine, multi-jurisdictional producer of ~300 koz / year
− Potential multiple growth as Equinox Gold transitions to multi-mine producer status
Source: company filings
Note: Peer group P/NAV multiples based on Scotiabank gold comparables
SECTOR RE-POSITIONING: VALUE-MULTIPLE GROWTH
ANALYST P/NAV MULTIPLES (ratio)
0.5x
0.7x
0.9x
+1.1x
Junior Producers Intermediate Producers Leading Intermediate Producers

22. 21
EXECUTING ON CORPORATE STRATEGY
EXPLORATION
TOWARDS
PRODUCTION
CORE GOLD
ASSETS
NON-CORE
ASSETS
FINANCIAL
DISCIPLINE
INSIDERS FULLY
INVESTED
• Aurizona  JDL Gold / Luna Gold form Trek Mining
• Castle Mountain  Trek Mining / NewCastle Gold / Anfield Gold form Equinox Gold
• Mesquite  Immediate production and cash flow
• Aurizona  Feasibility study, full funding, gold pour end of 2018
• Castle Mountain  Prefeasibility study, commissioning end of 2019
• Mesquite  135 Koz/year average over last 10 years
• Aurizona  Extended mineralization along strike, new high-grade mineralization
to NE, resource update Q3, studying underground potential, drilling at Tatajuba
• Castle Mountain  New higher-grade mineralization outside of reserve pit
• Sold Koricancha for C$16.3 M
• Transferred copper assets into Solaris Copper
• Ross Beaty holds 12%, over $30 M invested since October 2017
• Continued investment by insiders to hold 1%
• Ross Beaty and other strategic shareholders backstopping Mesquite equity raise
• G&A less than $50/ounce of production
• Lean executive team, executive pay in lowest quartile of industry
• Limited equity dilution for Mesquite acquisition

23. 22
APPENDIX
22

24. 23
EQUINOX GOLD PRO FORMA CORPORATE SUMMARY
CAPITAL STRUCTURE EQX Δ PF
Shares – Basic M 447 104 551
Listed Warrants (Ex. C$3.00) M 81 - 81
Unlisted Warrants (Avg. Ex. C$1.22) M 41 - 41
Options/RSUs M 23 - 23
Shares – FD M 592 104 696
Market Cap. – Basic C$M $465 $109 $575
CASH AND DEBT 1 EQX Δ PF
Cash – Basic $M $65 $32 $97
Cash – Fully Diluted (ITM) $M $81 $32 $113
Drawn Debt $M $55 $120 $175
Convertible Debt $M $19 - $19
1. Calculated using Q2-2018 (June 30) cash plus Acquisition
Strong support from
existing investors and insiders
Analyst coverage:
BMO Capital Markets, CIBC World
Markets, Cormark Securities, Haywood
Securities, Macquarie Financial, National
Bank, Raymond James, TD Securities

25. 24
TRANSACTION SUMMARY Key acquisition terms
1. Excludes bonding, working capital and Transaction costs. See Transaction Sources & Uses. 2. See Transaction Sources & Uses for further details.
ACQUISITION
FINANCING 2
ACQUISITION
MECHANICS
TRANSACTION
CLOSING
TIMELINE
CLOSING
CONDITIONS
• Acquisition of the Mesquite Gold Mine for cash consideration of $158 M 1
• Equinox Gold to acquire all outstanding shares of New Gold’s subsidiary,
Western Mesquite Mines, Inc.
• $120 M in debt plus $75 M in equity, fully subscribed by Ross Beaty,
new and existing shareholders, and a bank syndicate
• Q4-2018
• Completion of acquisition funding
• Receipt of certain regulatory and other approvals; no shareholder votes

26. 25
MESQUITE TRANSACTION SOURCES & USES
SOURCE OF FUNDS $M
Scotia Credit Facility $100
Sprott Credit Facility $20
Equity Financing $75
Total Sources of Funds $195
USE OF FUNDS $M
Purchase Price $158
Bonding / Working Capital ~$32
Transaction Costs ~$5
Total Uses of Funds $195
FINANCING DETAILS
Debt
• Debt for the acquisition to be comprised of two distinct tranches:
1) $100 M credit facility: provided by Scotiabank (lender to New Gold on its $400 M revolving credit facility)
– Interest rate of LIBOR + 3.75% 1, 4-year term, 6-month payment holiday post closing, repaid in equal
quarterly installments thereafter
2) $20 M credit facility: provided by Sprott (credit provider for the Aurizona construction finance)
– Interest rate of LIBOR + 6.50% 2, repayment beginning December 2020 with 9 equal quarterly payments
– Sprott to be issued 1.75 M common shares in connection with the facility
• Scotiabank and Sprott have agreed on intercreditor terms

Non-
Brokered
Equity
• Non-brokered equity financing for $50 M
– Fully subscribed by Ross Beaty, certain existing shareholders and new institutional shareholders
– Long-term supportive shareholders
• Offering price of C$0.95 per share (same terms as brokered equity component)

Brokered
Equity
• Brokered equity financing for $25 M
• Fully underwritten as a bought deal private placement
• Offering price of C$0.95 per share (same terms as non-brokered equity component)

1. Interest rate shown is for the first six months, with the rate to fluctuate thereafter based on a leverage ratio.
2. Interest rate based on the greater of US 3-month LIBOR or 1.50%, plus 6.50% (annual rate).

27. 26
• Future gold production supported by 1.1 Moz 2P Reserves with an additional 1.2 Moz M&I Resources
(excluding reserves)
• Represents 25% increase to current EQX 2P Reserves, 40% increase to current M&I Resources
(inclusive of reserves)
MESQUITE RESERVES & RESOURCES 1
Tonnes
(Kt)
Grade
(g/t Au)
Contained Gold
(Koz)
Proven
Probable
5,627
59,491
0.49
0.54
89
1,040
Total Proven & Probable 65,119 0.54 1,129
Measured
Indicated
4,297
75,859
0.43
0.46
59
1,122
Total Measured & Indicated (exclusive) 80,156 0.46 1,181
Inferred 8,871 0.38 107
1. As per New Gold’s year-end 2017 reserve and resource update. See Cautionary Notes.
MESQUITE: RESERVE & RESOURCE ESTIMATES

28. 27
AURIZONA: RESERVE & RESOURCE ESTIMATE
This Mineral Reserve estimate has an effective date of May 29, 2017 and is based on the Mineral Resource estimate dated January 5, 2017 and prepared by SRK
Consulting (Canada) Ltd. The Mineral Reserve calculation was completed under the supervision of Gordon Zurowski, P.Eng of AGP Mining Consultants Inc., who is a
Qualified Person as defined under NI 43-101. Mineral Reserves are stated within the final design pit based on a $1,056 per ounce gold price pit shell with a $1,200 per ounce
gold price for revenue. The cutoff grade was 0.60 g/t Au for the Piaba pit area and 0.41 g/t Au for the Boa Esperança area. The mining cost averaged $2.32/tonne mined,
processing averages $11.30/tonne milled and G&A was $2.84/tonne milled. The process recovery averaged 90.3%. The exchange rate assumption applied was R$3.30
equal to US$1.00. This Mineral Resource estimate has an effective date of January 5, 2017 and was prepared by Mr. Marek Nowak, M.A.Sc., P.Eng. of SRK, who is a
qualified person under NI 43-101. Open pit mineral resources are reported at 0.6 g/t gold cut-off and underground resources are reported at 2.0 g/t gold cut-off. Tonnes are
rounded to the nearest 10,000; ounces are rounded to the nearest 1,000. Small tonnage and grade differences may be found due to rounding. Mineral Resources are
inclusive of Mineral Reserves. The Mineral Reserve and Mineral Resource estimate were reported in the “Feasibility Study on the Aurizona Gold Mine Project” prepared by
Lycopodium Minerals Canada Ltd. with an effective date of July 10, 2017, which is available for download on the Company’s website and on SEDAR at www.sedar.com.
AURIZONA MINERAL RESOURCES
Category Measured Indicated Total M&I Inferred
Deposit
Tonnes
kt
Grade
g/t Au
Contained
Gold koz
Tonnes
kt
Grade
g/t Au
Contained
Gold koz
Tonnes
kt
Grade
g/t Au
Contained
Gold koz
Tonnes
kt
Grade
g/t Au
Contained
Gold koz
Open Pit
Piaba 8,860 1.46 415 19,030 1.64 1,002 27,890 1.58 1,417 740 1.56 37
Boa Esperança 370 1.14 14 370 1.14 14 140 1.88 8
Total 8,860 1.46 415 19,400 1.63 1,016 28,260 1.57 1,431 880 1.61 45
Underground
Piaba 5,090 2.99 490
AURIZONA MINERAL RESERVES
Category Proven Probable Total P&P
Ore Type
Tonnes
kt
Grade
g/t Au
Contained
Gold koz
Tonnes
kt
Grade
g/t Au
Contained
Gold koz
Tonnes
kt
Grade
g/t Au
Contained
Gold koz
Laterite 122 1.94 8 539 0.98 17 661 1.16 25
Saprolite 1,684 1.52 82 1,310 1.38 58 2,994 1.46 140
Transition 2,553 1.34 110 1,363 1.18 52 3,916 1.29 162
Fresh Rock 4,079 1.46 192 8,186 1.72 452 12,265 1.63 644
Total 8,438 1.44 392 11,398 1.58 579 19,836 1.52 971

29. 28
AURIZONA: STRIKE EXTENSION & REGIONAL TARGETS
• Drilling at Tatajuba has encountered gold mineralization similar to and higher-grade than Piaba
mineralization
- Potential 5-km extension along strike
- Recent positive results, additional drilling planned
• Touro and Atlas are promising regional targets that warrant follow-up exploration
- Potential to be developed as standalone deposits
TATAJUBA TARGET

30. 29
AURIZONA: CONSTRUCTION PROGRESS
DECEMBER 2017
PREPARING FOUNDATIONS
JANUARY 2018
POURING CONCRETE
MARCH 2018
GRINDING BUILDING
MAY 2018
PEDESTALS IN PLACE
SEPTEMBER 2018
INSTALLATION WELL ADVANCED
JULY 2018
MILL COMPONENTS ON SITE
Mill installation

31. 30
AURIZONA: CONSTRUCTION PROGRESS
CRUSHING AREA SURGE BIN THICKENER
MET LABORATORY ELECTRICAL SUBSTATIONREAGENTS
Auxiliary facilities

32. 31
CASTLE MOUNTAIN: RESERVE & RESOURCE ESTIMATES
Proven Probable Proven & Probable
Resource Area
Tonnes
(M)
Grade
(g/t)
Contained
Gold
(Moz)
Tonnes
(M)
Grade
(g/t)
Contained
Gold
(Moz)
Tonnes
(M)
Grade
(g/t)
Contained
Gold
(Moz)
JSLA - Rock 56.7 0.52 0.95 1.7 0.92 0.05 58.5 0.54 1.01
JSLA - Pit fill 16.3 0.35 0.18 16.3 0.35 0.18
Jumbo 8.9 0.77 0.22 2.6 0.39 0.03 11.5 0.68 0.25
Oro Belle 38.7 0.57 0.71 6.2 0.48 0.10 45.0 0.56 0.80
East Ridge 5.1 0.80 0.13 6.4 0.42 0.09 11.6 0.59 0.22
South Domes 27.1 0.63 0.55 27.7 0.62 0.56 54.8 0.63 1.10
Total 136.6 0.58 2.56 61.0 0.51 1.00 197.6 0.56 3.56
Measured Indicated Measured & Indicated
Resource Area
Tonnes
(M)
Grade
(g/t)
Contained
Gold
(Moz)
Tonnes
(M)
Grade
(g/t)
Contained
Gold
(Moz)
Tonnes
(M)
Grade
(g/t)
Contained
Gold
(Moz)
JSLA - Rock 60.8 0.51 1.00 6.1 0.53 0.10 66.9 0.51 1.10
JSLA - Pit fill 16.3 0.35 0.18 16.3 0.35 0.18
Jumbo 16.0 0.69 0.36 7.1 0.57 0.13 23.1 0.66 0.49
Oro Belle 50.0 0.58 0.94 19.3 0.45 0.28 69.3 0.55 1.22
South Domes 33.8 0.65 0.70 32.5 0.61 0.64 66.4 0.63 1.34
Total 160.6 0.58 2.99 81.4 0.51 1.34 242.0 0.56 4.33
Resource Area Inferred
JSLA - Rock 36.0 0.40 0.46
JSLA - Pit fill 19.7 0.28 0.18
Jumbo 23.0 0.44 0.33
Oro Belle 53.5 0.38 0.65
South Domes 39.2 0.47 0.59
Total 171.4 0.40 2.20
The Mineral Reserve estimate with an effective date of June 29, 2018 is based on the Mineral
Resource estimate with an effective date of March 29, 2018 that was prepared by Don Tschabrun,
SME RM of Mine Technical Services. The Mineral Reserve was estimated by Global Resource
Engineering, LLC with supervision by Terre Lane, MMSA, SME RM. Mineral Reserves are estimated
within the final designed pit which is based on the $850/oz pit shell with a gold price of $1,250/oz. The
minimum cut-off grade was 0.14 g/t gold and 0.17 g/t gold for Phases 1 and 2, respectively. Average
life of mine costs are $1.39/tonne mining, $2.11/tonne processing, and $0.80/tonne processed G&A.
The average process recovery was 72.4% for ROM and 94% for Mill/CIL. Tonnes and gold ounces are
both reported in millions. Small differences in total tonnage and grade may occur due to rounding.
The Mineral Resource estimate is inclusive of Mineral Reserves. Mineral Resources that are not
Mineral Reserves do not have demonstrated economic viability. Numbers in the table have been
rounded to reflect the accuracy of the estimate and may not sum due to rounding. The Mineral
Resource is based on a gold cut-off grade of 0.17 g/t. The Mineral Resource is contained within an LG
shell limit using a $1,400 gold price as well as cost and recovery parameters presented in the PFS
Technical Report.

33. 32
CASTLE MOUNTAIN: NEXT STEPS
Phase 1 – ROM heap leach
 Federal Record of Decision to mine up to
46,600 tpd of ore + waste
 San Bernardino County Conditional Use Permit
 Sufficient water available
• Ancillary ministerial permits
• Advance engineering to support 2019
construction, production early 2020
Phase 2 – ROM heap leach + mill
• Stay within the existing mining boundary, while
substantially expanding the project
- Increased throughput to 41,000 tpd of ore
- Increased area of disturbance
- Increased water extraction
• Modify existing EIS/EIR to accommodate the
expansion
- Flora and fauna studies are well advanced
- No material changes to the mine area
compared to previous operations
• Permit and drill additional water sources
• Advance feasibility and permitting to support
Phase 2 construction and production

34. 33
CASTLE MOUNTAIN: EXPLORATION UPSIDE
2017 drilling
demonstrated
strong organic
growth potential with
discoveries at depth
in JSLA footwall and
new discoveries
outside the existing
reserve pits
JSLA stockpile
material economic
at current prices
Significant new discovery
• 0.65 g/t Au/ 35 m (CM282)
• 1.10 g/t Au/ 32 m (CM276)
• 1.27 g/t Au/ 62 m (CM284)
• 1.60 g/t Au/ 32 m (CM261)
Higher-grade material in JSLA
• 1.01 g/t Au/ 180 m (CM161)
• 31.19 g/t Au/ 29 m (CM195)
• 2.26 g/t Au/ 127 m (CM195)
JSLA Pit
4.3 Moz
M&I RESOURCES 1
2.2 Moz
INF RESOURCES
1. Inclusive of reserves.

35. 34
Next steps
• Launched Solaris Copper on August 3
• EQX shareholders get 1/10th of a Solaris Copper share
for every EQX share held
• EQX warrants and options become exercisable into
one EQX share and 1/10th Solaris Copper share
• Consider a public listing when the projects are more advanced
Warintza
• With only 6,500 metres of previous drilling established 2.2 Blb inferred resource grading 0.61% CuEq
• Focused on community relations to finalize go-forward strategy
• Excellent progress in 2018 – full-time project manager
• Hope to commence exploration in 2019
Ricardo
• Expect to solidify exploration agreement with a copper major to advance the property
La Verde
• Considering options to advance the property
• Large copper resource: 3.7 Blb M&I and 2.7 Blb Inferred grading 0.4% Cu

36. 35
WARINTZA PROJECT: COPPER-MOLYBDENUM IN ECUADOR
Only a small portion of the property has been tested with
~6,500 metres of drilling
• 22,676 hectare property in a mineralized corridor that
hosts numerous porphyry deposits
• 40km north of Mirador Cu-Au development project and
near contiguous to San Carlos Panantza exploration-
stage deposit
• Exploration drilling targeted for 2019
• 2013 resource estimate: Inf 1.808 Blbs Cu @ 0.42%
and 132.3 Mlbs Mo @ 0.031% (0.61% CuEq) 1
1. See Warintza Resource Estimate and Cautionary Notes.

37. 36
RICARDO PROJECT: COPPER-MOLYBDENUM IN CHILE
West Fissure fault hosts numerous large porphyry
copper deposits, including Escondida and Chuquicamata
• "Right address" for copper and molybdenum
mineralization in Chile
• 16,000 hectares strategically located along West
Fissure fault
• Only two focused drill holes to date, but have
encountered rock types similar to those seen at
Chuquicamata

38. 37
LA VERDE PROJECT: COPPER-SILVER-GOLD IN MEXICO
Explored sporadically since 1906 with ~115,000 m
drilled to date
• 60% ownership with a subsidiary of
Teck Resources holding 40%
• Paved road access to site with water, power
and rail infrastructure nearby
• 2012 resource estimate:
- Measured: 57.5 Mt grading 0.45% Cu
- Indicated: 350.4 Mt grading 0.40% Cu
- Inferred: 337.5 Mt grading 0.37% Cu
1. See La Verde Resource Estimate and Cautionary Notes.

39. 38
WARINTZA, LA VERDE & ELK GOLD RESOURCE ESTIMATES
WARINTZA MINERAL RESOURCES
Resource Tonnes CuEq% Cu% Copper
(tonnes)
Copper
(M lbs)
Mo% Mo (tonnes) Mo
(M lbs)
CuEq
(M lbs)
Inferred 194,994,000 0.61 0.42 820,000 1,807 0.031 60,000 132 2,072
The Warintza Mineral Resource estimate has an effective date of December 21, 2012 as reported in the “Technical Report, Warintza Project, Ecuador" completed by Peter
Ronning, P.Eng. and Steven Ristorcelli, C.P.G. with an effective date of December 21, 2012. The Mineral Resource calculation was completed under the supervision of Peter
Ronning, P.Eng. and Steven Ristorcelli, C.P.G., who are Qualified Persons as defined under NI 43-101. The reported resource is at a cut-off of 0.3 CuEq. The copper
equivalent grade for copper plus molybdenum was calculated as CuEq(%) = Cu(%) + (6*Mo(ppm)/10000). Copper-equivalent calculations reflect gross metal content and have
not been adjusted for metallurgical recoveries or relative processing and smelting costs. The copper equivalent grades were used only for establishing cut-off grades for
reporting.
The La Verde Mineral Resource estimate was reported in the “La Verde Copper Project, Michoacán State, Mexico, Technical Report” prepared by AMC Mining Consultants
(Canada) Ltd. with an effective date of September 30, 2012. The resource is reported using a base-case cut-off grade of 0.2% copper. The cut-off grade of 0.2% copper is
based on experience for similar open-pit projects and a mining conceptual study which used a metal price of $2.50/lb copper and copper metal recovery of 92%. This Resource
estimate is not constrained by a pit shell.
LA VERDE MINERAL RESOURCES
Resource Tonnes Cu
(%)
Ag
(g/t)
Au
(g/t)
Copper
(M lbs)
Measured 57,527,000 0.45 2.94 0.05 571
Indicated 350,442,000 0.40 2.33 0.03 3,098
Total M&I 407,969,000 0.41 2.42 0.03 3,669
Inferred 337,838,000 0.37 1.94 0.02 2,748
ELK GOLD MINERAL RESOURCES
Category
Tonnes
kt
Au Grade
g/t
Contained
Gold koz
Measured 340 7.07 77.3
Indicated 703 5.96 134.6
Total M&I 1,043 6.32 211.9
Inferred 1,097 5.94 209.6
The Elk Gold Mineral Resource estimate has an effective date of August 22, 2016 as reported
in the "Technical Report on Resources of the Elk Gold Project" completed by Robert Wilson,
P.Geo., Gary Giroux, P.Eng. and Antonio Loschiavo, P.Eng. with an effective date of August
22, 2016. The Mineral Resource calculation was completed under the supervision of Gary
Giroux, P.Eng., who is a Qualified Person as defined under NI 43-101. The constrained
resource was calculated using a gold price of $1232/oz. Open-pit resources are reported at a
1.0 g/t gold cut-off grade and potential underground resources are reported at a 5.0 g/t cut-off
grade. The grade reported is the average grade of the resource both in and underground.

40. 39
+1 604.558.0560
ir@equinoxgold.com
www.equinoxgold.com
TSX-V: EQX | OTC: EQXFFAurizona Mine Site
September 1, 2018