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VANCOUVER, April 2, 2020 /PRNewswire/ - Equinox Gold
Corp. (TSX: EQX, NYSE American: EQX) ("Equinox Gold" or the
"Company") today provides an update related to the COVID-19
pandemic.
Operations
Equinox Gold will temporarily suspend mining activities at its
Los Filos Mine in Guerrero State, Mexico in compliance with a recent order by
the Federal Government of Mexico
requiring the temporary suspension of all non-essential businesses
until April 30, 2020. The Company
will continue processing solution from the heap leach pads and
expects that gold production will continue at a reduced level
through the temporary suspension.
The Company has also temporarily suspended operations at its
Pilar Mine in Goiás State, Brazil
in compliance with State Government restrictions. To maintain
appropriate safety, security and environmental systems, the mine
will continue to be staffed by a reduced workforce.
The Company's RDM Mine in Minas Gerais State, Brazil is recommencing full operations after a
previously announced short-term suspension of mining activities in
compliance with a municipal restriction.
The Company's other producing mines continue to operate normally
with COVID-19 safety and preventive measures in place. The Company
is currently unable to determine the potential effects of the
COVID-19 pandemic on fiscal 2020 guidance and will provide updates
as practical.
Equinox Gold continues to enforce stringent operational and
safety procedures across the Company to help protect the safety of
its workforce and communities in accordance with guidelines
outlined by the World Health Organization and the local, state and
federal governments at each of its operations. Equinox Gold has
developed contingency plans to support business continuity and help
protect the economic wellbeing of its workforce, suppliers and
local communities. The Company is monitoring the rapidly changing
COVID-19 situation and will adjust its response as necessary.
Financial
The Company drew down the remaining $180
million from its $400 million
revolving credit facility in March as a proactive measure given the
uncertainty of the potential effects of the COVID-19 pandemic on
the Company's operations. There are no current plans to deploy
these funds and Equinox Gold remains in a strong financial position
with approximately $300 million in
cash and cash equivalents (unrestricted) at March 31,
2020.
About Equinox Gold
Equinox Gold is a Canadian mining company with six producing
gold mines, a multi-million-ounce gold reserve base and a strong
growth profile from two development projects and two expansion
projects. Equinox Gold operates entirely in the Americas, with two
properties in the United States,
one in Mexico and five in
Brazil. Equinox Gold's common
shares are listed on the TSX and the NYSE American under the
trading symbol EQX. Further information about Equinox Gold's
portfolio of assets and long-term growth strategy is available at
www.equinoxgold.com or by email at ir@equinoxgold.com.
Cautionary Notes and Forward-looking
Statements
This news release includes certain statements that constitute
"forward-looking statements", and "forward-looking information"
within the meaning of applicable securities laws collectively
"forward-looking statements". These include statements regarding
the growth potential of the Company. When used in this news
release, words such as "will", "monitoring", "review", "adjust",
"continue", "contingency plan", "expect", "growth", and similar
expressions are intended to identify these forward-looking
statements as well as phrases or statements that certain actions,
events or results "may", "could", "would", "should", "occur" or "be
achieved" or the negative connotation of such terms. As well,
forward-looking statements may relate to future outlook and
anticipated events, such as the Company's ability to achieve the
2020 production and cost estimates at its properties, the funding
available to the Company, the timing and likelihood of project
development, construction and expansion, the timing and amount of
expected future production, the costs of future production,
construction and expenditures, the Company's plans and protocols
with regard to managing potential impacts related to the COVID-19
pandemic, the Company's strategy to help keep its workforce and
local communities safe, the Company's contingency plans, business
continuity protocols and the potential impact on operations related
to COVID-19, the Company's ability to maintain activities and
productivity at its operating mines, the Company's ability to
successfully resume operations at mines at which operations have
been restricted or temporarily suspended, and the Company's ability
to advance its development and expansion projects and achieve its
growth objectives.
These forward-looking statements involve assumptions,
numerous risks and uncertainties, certain of which are beyond the
Company's control including risks associated with or related to the
volatility of metal prices and the Company's shares, there being no
significant disruptions affecting the Company's operations or
projects, risks related to the COVID-19 pandemic including
government and health authority responses and increased regulations
and restrictions regarding the flow of labour, materials and impact
on the Company's business, projects and operations, as well as the
risk factors identified in Equinox Gold's year-end MD&A
dated February 28, 2020, which is
available on SEDAR at www.sedar.com and EDGAR at
www.sec.gov. Forward-looking statements are based on
information available at the time those statements are made and/or
management's good faith belief as of that time with respect to
future events and are subject to risks and uncertainties 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. The COVID-19 situation is changing rapidly and
Equinox Gold will continue to review and adapt its response
protocols as the situation unfolds, applying guidelines outlined by
the World Health Organization and governments of countries within
which the Company operates. The extent to which COVID-19 (or
any other disease, epidemic or pandemic) impacts business activity,
operations or financial results, and the duration of any such
impact, will depend on future developments that are highly
uncertain and cannot be predicted, including new information that
may emerge concerning COVID-19 and the actions required to contain
or treat its impact, among others. Except as required by
applicable law, Equinox Gold assumes no obligation to update or to
publicly announce the results of any change to any forward-looking
statement contained or incorporated by reference herein to reflect
actual results, future events or developments, changes in
assumptions or changes in other factors affecting the
forward-looking statements. If Equinox Gold updates any one or more
forward-looking statements, no inference should be drawn that the
Company will make additional updates with respect to those or other
forward-looking statements. All forward-looking statements
contained in this news release are expressly qualified in their
entirety by this cautionary statement.
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SOURCE Equinox Gold Corp.