Equinox Gold is a Canadian mining company with a multi-million-ounce gold resource base, near-term and growing gold production from two past-producing mines in Brazil and California, and a diverse portfolio of gold and copper assets in North and South America. Construction is underway at the Company’s Aurizona Gold Mine in Brazil with the objective of pouring gold by year-end 2018, and the Company is advancing its Castle Mountain Gold Mine in California with the objective of commissioning Phase 1 operations by the end of 2019. The Company’s plan to transfer all of its copper assets to a newly incorporated company named Solaris Copper Inc. will be voted on at the Company’s annual and special meeting of shareholders on July 26, 2018. 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. 1
Creating a Major
Gold Producer
July 17, 2018

2. 2
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, Scott Heffernan, MSc,
PGeo, Equinox Gold’s EVP Exploration, and Marc Leduc, P.Eng., Equinox Gold’s EVP US
Operations, are the Qualified Persons under NI 43-101 for Equinox Gold and have 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 Equinox Gold’s July 16, 2018 press release announcing the results of the Castle
Mountain prefeasibility study. A technical report to support the prefeasibility study results will be
filed on SEDAR by August 30, 2018.
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 and other financial measures
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.
All dollar amounts are in USD unless otherwise noted. Exchange rate assumed is 0.80
USD:CAD. Numbers may not add due to rounding.
Forward-looking information and
reserve/resource estimatesCAUTIONARY STATEMENTS
This presentation does not constitute an offering of securities and the information contained
herein is subject to the information contained in the Company's continuous disclosure
documents.
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 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. 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, and the results of exploration efforts at Aurizona and Castle Mountain. 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

3. 3
CREATING A LEADING GOLD COMPANY
Multi-asset
company with
near-term and
growing gold
production
CASTLE MOUNTAIN
GOLD MINE,
CALIFORNIA
Prefeasibility Complete
AURIZONA GOLD
MINE, BRAZIL
Construction Underway
1. See Aurizona Reserve/Resource Estimate, Castle Mountain
Reserve/Resource Estimate and Cautionary Notes.
2. Cash and marketable securities at March 31, 2018, end of Q1.
3. Based on shares outstanding and share price at July 9, 2018.
~C$65 M
CASH 2
FIRST GOLD
POUR
YEAR-END 2018
4.5 Moz GOLD
2P RESERVES 1
~C$450 M
MARKET CAP 3
~13% insider
ownership
Fully funded for 2018
production, access to
US$200 M facility
With significant
expansion potential
Potential for
400,000 oz / year
from existing assets
Institutional
21%
High Net Worth
Investors
21%
Ross Beaty
12%
Other Insiders
1%
Float
45%

4. 4
SIGNIFICANTLY ENHANCED GOLD PORTFOLIO
Completion of
Castle Mountain
prefeasibility
increased EQX
reserves by 365%,
increased annual
production by 150%
Aurizona Castle Mountain Total Equinox Gold
0
1,000
2,000
3,000
4,000
5,000
6,000
M&I Resources 2P Reserves
R&ROuncesofGold(’000s)
203 Koz
GOLD PER YEAR 1
16 YEAR
MINE LIFE
3.6 Moz
2P RESERVES
$763/oz
AISC
$406 M
NPV5%
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
Annual Production
OuncesofGoldProduction
$865 M
LOM CASH FLOW
Castle Mountain Prefeasibility Highlights
1. Average annual gold production during Phase 2 operations.

5. 5
ADVANCING TWO RARE ASSETS
0
50
100
150
200
250
300
350
400
450
AnnualProductionProfile(koz)1
Aurizona and Castle Mountain are two of just a few projects expected to
commence production in the next three years 1
1. Based on information contained in corporate presentations, technical reports and websites.
Castle Mountain
Phase 2 production
Scarcity of near-term
gold production opportunities
Now in Production 2018 2019 2020 2021

6. 6
ADVANCING AURIZONA TO PRODUCTION
Construction
fully funded and
well advanced
First gold pour
targeted for
year-end 2018
1. Based on July 2017 feasibility study using $1,250/oz gold.
CIL Tanks
CN Destruct
Leach Tanks
Thickener
SAG & Ball Mill
Primary Crusher
ROM Pad
Old SAG Mill
Gensets
69 kV Substation
$754/oz
AISC 1
136 koz
GOLD PER YEAR 1
$65 M
AVG. ANNUAL NET
CASH FLOW 1
Aurizona Mine – Existing infrastructure and planned new front end

7. 7
CONSTRUCTION PROGRESS
EXISTING PLANT EQUIPMENT
REFURBISHED
CONCRETE WORK FOR NEW
SAG MILL AND BALL MILL
MILLS DELIVERED TO SITE
INSTALLATION UNDERWAY
THICKENER
MINING ACTIVITIES UNDERWAY,
ORE STOCKPILING IN Q3
EARTHWORKS AND CONCRETE
FOR CRUSHING AREA
Mill installation underway

8. 8
NEAR-MINE EXPLORATION UPSIDE
Confirmed
extension of
mineralization up
to 350 m to west,
new discoveries
to east
Resource update
in mid-2018
incorporating
2017 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. Includes of reserves. See Aurizona Reserve/Resource Estimate and
Cautionary Notes.
Expansion potential
along strike

9. 9
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
- 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

10. 10
CASTLE MOUNTAIN: COMMISSIONING IN LATE 2019
203 Koz
GOLD PER YEAR 2
16 YEAR
MINE LIFE 1
3.6 Moz
P&P RESERVES 1
1. As announced in Equinox Gold’s press release on July 16, 2018 summarizing the results of the Castle Mountain prefeasibility study. A
technical report supporting the prefeasibility study will be filed on SEDAR by August 30, 2018.2. Phase 2 production.
$763/oz
AISC 1

11. 11
RE-START STRATEGY
Oro
Belle
Pit
Jumbo
Pit
JSLA
Pit
South
Domes
East
Ridge
Brownfields project with key permits in place
• Past producing open-pit heap leach mine
in California with more than 1.3 Moz gold produced
• Federal mining permit to mine up to 46,600 tpd of
ore + waste
Substantial gold resource, expansion potential
• 3.6 Moz P&P gold reserves
• 4.3 Moz M&I gold resources (inclusive of reserves)
• 2.2 Moz Inferred gold resources
• Significant expansion potential
Two phase re-start strategy
• Phase 1
- Run-of-mine heap leach of lower-grade
stockpiled material from previous operations
- Key permits in place
- 45 koz/year for 3 years
- Ore stacking and commissioning in late 2019
• Phase 2
- Full restart including ROM heap leach and
milling of higher-grade ore
- Data collection for permitting underway
- Expansion to 203 koz/year for 13 years
1. See Castle Mountain Reserve/Resource Estimate and Cautionary Notes.
Stacking ore and commissioning in late 2019
Commercial production by early 2020

12. 12
CASTLE MOUNTAIN SITE PLAN
Full mine-life
footprint stays
within existing
approved mining
boundary

13. 13
ROBUST ECONOMICS
AVG. GOLD PER YEAR
PHASE 2
PREFEASIBILITY HIGHLIGHTS
Gold price $1,250/oz
Grade 0.56 g/t gold
P&P Reserve 3,563,093 oz gold
Avg. annual production: Phase 1 (yrs 1-3) 44,930 oz/year
Avg. annual production: Phase 2 (yrs 4-16) 202,979 oz/year
Recoverable LOM ounces 2,798,173 oz gold
Strip ratio 3.6
Avg. recovery 78.5%
Mine Life 16 years
Initial capex Phase 1 1 $52 M
Initial capex Phase 2 1 $295 M
Sustaining capex 2 $142 M
Cash cost (incl. royalties) $712/oz
AISC $763/oz
Pre-tax NPV 0% $1,034 M
After-tax NPV 0% $865 M
After-tax NPV 5% $406 M ($534 M at $1,350/oz gold)
After-tax IRR 20.1% ($25% at $1,350/oz gold)
$406 MNPV5% AFTER-TAX
$763/oz
AISC
203 koz
3.6 Moz2P RESERVES
$865 MLOM CASH FLOW
AFTER-TAX
1. Includes working capital and contingency. 2. Includes $20.2 M of reclamation/closure costs and contingency.
Significant production and cash flow, low AISC

14. 14
HIGH-MARGIN GOLD MINE
LOM ALL-IN SUSTAINING COSTS: $763/oz
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
0 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Cost Percentile
FORECAST 2018 AISC $/oz 1
Castle Mountain: $763/oz
1. Forecast 2018 all-in-sustaining costs provided by National Bank Financial.
G&A
$0.80/t PROCESSED
PROCESSING
$2.11/t PROCESSED
MINING
$1.39/t MINED
AISC in lowest quartile of industry average

15. 15
NEXT STEPS: PERMITTING, WATER & FEASIBILITY
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, commercial 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

16. 16
EXCEPTIONAL EXPLORATION UPSIDE
Strong organic growth potential
demonstrated by 2017 drilling 1
• JSLA backfill material economic at
current prices
- 0.83 g/t Au/ 37 m (CM214)
- 0.41 g/t Au/ 70 m (CM195)
• New high-grade material in JSLA pit
- 1.01 g/t Au/ 180 m (CM161)
- incl 1.62 g/t Au/ 76 m
- incl 5.49 g/t Au/ 20 m
- 31.19 g/t Au/ 29 m (CM195)
• New discovery in JSLA pit footwall
- 2.26 g/t Au/ 127 m (CM195)
• Significant new discovery outside
the resource pit at East Ridge
- 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)
1. All drill results have been press released and are available at www.sedar.com.
Mine life extension
Increase annual production

17. 17
0
0.2
0.4
0.6
0.8
1
1.2
Equinox Gold Developers Smaller Producers Multi-Asset Mid-
Tier Producers
PricetoNetAssetValue1
> 400,000 oz
Aurizona +
Castle Mountain
Annual Gold Production 200,000 oz +
VALUE CREATION WITH PRODUCTION GROWTH
Increasing
production profile
should lead to
substantial value
creation
1. Analyst consensus multiples as per National Bank Financial.
136,000 oz
Aurizona

18. 18
NON-CORE GOLD AND COPPER ASSETS
On June 21, 2018, Equinox
Gold announced plans to
transfer its copper assets into
a new company called
Solaris Copper Inc.
• 60% of Solaris Copper
shares will be distributed to
EQX shareholders with each
shareholder getting 1/10th of
a Solaris Copper share for
every EQX share held
• 40% of Solaris Copper
shares will be held by EQX
• Shareholders will vote on
the Arrangement on
July 26, 2018
Spin-out copper assets
Sell Koricancha

19. 19
EQUINOX GOLD VALUE CONSIDERATIONS Valuation upside
from exploration
NPV excludes the value of
significant exploration and
production upside at both
Aurizona and Castle Mountain
Aurizona NPV at
$1,250/oz is $200 M
Castle Mountain NPV
at $1,250/oz is $406 M
1. NPV (5% discount) at $1,250/oz gold price.
2. Enterprise value calculated as market cap - cash + drawn debt + convertible note.
After-Tax NPV5% of Equinox Gold Projects
vs Total Enterprise Value
Current EQX
Enterprise Value is
only 60% of
combined NPVs1
Aurizona: Piaba West Tatajuba Genipapo Underground
Castle Mountain: East Ridge NW Rim Egg Hill JSLA Pit
Other: Solaris Copper Elk Gold Koricancha Mill
$0
$100
$200
$300
$400
$500
$600
$700
$800
$900
$1,250/oz Gold Price $1,350/oz Gold Price
EQX Current
Enterprise Value
$350 M 2

20. 20
Aurizona
 Construction progress: more than 60% complete
• Resource update in Q3-2018 demonstrating potential mine life extension
• Exploration focused on resource growth, new discoveries and underground potential
• First gold pour in late 2018: producer re-rating with average 136,000 ounces of gold per year
Castle Mountain
 Positive prefeasibility study
• Advance permitting, Phase 1 engineering and Phase 2 feasibility study
• Exploration focused on feasibility study and new high-grade discoveries
Solaris Copper Inc.
• Spin-out of copper assets into separate company: August 2018
Long-term growth
• Evaluate opportunities to expand production profile
• Acquisitions supported by US$200 million debt facility
MILESTONES IN 2018
CONSTRUCTION
MILESTONES
GOLD POUR
YEAR-END 2018
CASTLE MOUNTAIN
FEASIBILITY
EXPLORATION
BOTH PROJECTS
20
Catalyst heavy year

21. 21
APPENDIX
21

22. 22
EQUINOX GOLD CORPORATE SUMMARY
Shares Outstanding 1 446.4 million Listed Warrants @ C$3.00 8 80.5 million
Share Price (July 16) ~C$1.00 Unlisted Warrants @ avg C$1.39 8 36.1 million
Daily Trading Volume 2 ~1 million shares Options @ avg C$1.37 8 15.5 million
Cash and Equivalents 3 ~C$65 million Restricted Share Units 9 4.9 million
Drawn Debt 4 US$15 million Fully Diluted Shares Outstanding 10 583.3 million
Equity Settled Note 5 C$23.6 million Cash from ITM Warrants and Options 11 ~C$20 million
Market Cap (basic) 6 ~C$450 million Analyst coverage: BMO Capital Markets,
Cormark Securities, Haywood Securities,
Macquarie Financial, National Bank Financial,
Raymond James, TD Securities
Enterprise Value 7 ~C$430 million
Insiders personally invested to hold ~13%
1. Basic basis as at May 2, 2018.
2. Average daily volume during H1-2018.
3. Cash and marketable securities as at March 31, 2018, end of Q1.
4. In December 2017 Equinox Gold drew the first US$15 million from the US$85 million secured project credit facility with Sprott Private Resource Lending that will be used
for the development, construction and working capital requirements of the Aurizona Gold Mine.
5. Equity settled note is held by Sandstorm Gold and is convertible to shares at 20-day VWAP at Company option, subject to restrictions.
6. Calculated using the July 16, 2018 share price for EQX.
7. Enterprise value calculated as market cap - cash + drawn debt + convertible note.
8. Warrant and option exercise prices are weighted averages. Warrant numbers are shown as the number of common shares that would be issued upon exercise of
warrants. Unlisted warrants are primarily held by Pacific Road and Sandstorm Gold.
9. Restricted Share Units are shares committed to management and issued subject to time-based and performance-based vesting terms, as part of equity-based
compensation.
10.Fully diluted shares outstanding and enterprise value do not include effect of the equity settled note.
11.Cash to Equinox Gold should in-the-money warrants and options be exercised.

23. 23
ADDITIONAL
GROWTH
CAPITAL
ACCELERATE
GROWTH
CLEAR GROWTH STRATEGY
GOLD POUR
YEAR-END
2018
FOCUSED
EXPLORATION
Strategic acquisitions to grow the company
• Increase near-term production with acquisition of producing gold asset
• Objective to produce 500,000 to 1 million ounces of gold annually by mid-2020s
Leverage value from non-core assets
• Fund exploration with sale of non-core gold assets
• Spin out copper assets into new investment vehicle
Potential for more than 400,000 ounces of production from current asset base 1
• Production in 2018 from Aurizona
• Production growth from Castle Mountain with two-phase ramp-up
Building mines that will operate for decades
• Aurizona – demonstrated resource expansion along strike and at depth
• Castle Mountain – new discoveries below and outside of resource pit
1 Equinox Gold is not yet in production. First gold pour from Aurizona is expected by year-end 2018. Castle Mountain prefeasibility study
contemplates Phase 1 commissioning by year-end 2019. Equinox Gold’s production potential is based on Aurizona production targets from
the July 2017 feasibility study and Castle Mountain production targets as announced on July 16, 2018. See Cautionary Notes.
To become a
multi-asset gold
producer

24. 24
LOW CAPITAL INTENSITY
Advancing two low-capital past-producing products
with AISC in lowest industry quartile
Lundin Gold
Sabina
Dalradian
Victoria
Lydian
Belo Sun
Continental
Almaden
Corvus
$750
$1,000
$1,250
$1,500
$1,750
$2,000
$2,250
10% 15% 20% 25% 30% 35% 40% 45%
LOWERCAPITALINTENSITY
HIGHER IRR
After Tax IRR (%) 2
CapitalIntensity($Capex/ozAnnualProduction)1
Bubble size represents
relative market capitalization
WITH MINE LIFE
EXTENSION
Aurizona
1. Castle Mountain Phase 2 operations. 2. Based on information contained in corporate presentations, technical reports and websites.
Market cap based on share prices at July 9, 2018.
Castle
Mountain 1
WITH MINE LIFE
EXTENSION

25. 25
CASTLE MOUNTAIN: PRODUCTION PROFILE
Processing
• Throughput Phase 1: 12,700 tpd
• Throughput Phase 2: 41,000 tpd
• Average recovery: 79%
• ROM recovery: 72%
• Mill recovery: 94%
• Average grade: 0.56 g/t gold
• Average mill grade: 3.23 g/t
• Average ROM grade: 0.42 g/t
Production profile
• Phase 1: Avg. 45,000 oz / yr
• Phase 2: Avg. 203,000 oz / yr
• Total: 197.6 Mt for 2.8 Moz
• Initial 16-year mine life
Mine life extension
• Exploration potential north, east
and west of the known resource
0
50,000
100,000
150,000
200,000
250,000
300,000
0
4,000
8,000
12,000
16,000
RecoverableGold(ounces)
OreProcessed(kTonnes)
Gold Production Profile
ROM Tonnes Mill Tonnes Recoverable Gold
2.8 Moz 0.56 g/t
TOTAL LOM PRODUCTION AVG. GOLD GRADE

26. 26
CASTLE MOUNTAIN: CAPITAL COSTS
1. Includes laboratory, power, water, miscellaneous facilities, spares.
2. Includes working capital and initial fills.
3. Sustaining capital excludes recapture of $18M of working capital at end of mine life.
4. Total initial capex (Ph1 + Ph2) = $346.6M.
Cost Area
Phase 1 Capital
(M$)
Phase 2 Capital
(M$)
Sustaining Capital
(M$)
Mine Equipment 1.4 111.5 51.7
Pre Strip - 46.8 -
Leach Pad 14.7 12.4 49.8
ADR Plant 11.0 6.6 -
Mill CIL - 42.3 -
Facilities, Support and Infrastructure 1 7.8 24.1 -
Plant Mobile Equipment 1.1 4.6 7.0
EPCM 0.6 11.2 2.0
Owners Costs 5.3 2.5 -
Construction Indirects 1.6 2.6 2.0
Working Capital 2,3 3.8 13.9 -
Contingency 4.3 16.5 9.4
Closure - - 20.2
Total 4 $51.7 $295.0 $142.0

27. 27
CASTLE MOUNTAIN: HEAP LEACH + MILLING

28. 28
AURIZONA: STRIKE EXTENSION & REGIONAL TARGETS
• Historical drilling at Tatajuba has encountered gold mineralization
similar to and higher-grade than Piaba mineralization
- Potential 5-km extension along strike
- Additional drilling planned for 2018
• Touro and Atlas are promising regional targets that warrant follow-
up exploration
- Potential to be developed as standalone deposits
TATAJUBA TARGET

29. 29
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
• Target exploration drilling in 2018
• 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.

30. 30
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

31. 31
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.

32. 32
ELK GOLD PROJECT: HIGH-GRADE GOLD IN CANADA
Past-producing high-grade gold
mine in British Columbia, Canada
• Produced 51,500 ounces of
gold from 1992-1995
• 6,597-tonne bulk sample in 2014
produced 3,531 ounces
@ 16.65 g/t gold
• More than 125,000 metres of
drilling to date
• 2016 resource estimate:
M&I 211.9 koz @ 6.32 g/t gold
and Inf 209.6 koz @ 5.94 g/t gold 1
1. See Elk Gold Resource Estimate and Cautionary Notes.

33. 33
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

34. 34
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.

35. 35
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.

36. 36
+1 604.558.0560
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www.equinoxgold.com
TSX-V: EQX | OTC: EQXGFAurizona Mine Site
May 10, 2018