# EDGAR Filing Document

**Accession Number:** 0001756607
**File Stem:** 0001171843-26-002005
**Filing Date:** 2026-3
**Character Count:** 2044970
**Document Hash:** 9fb99832c8617cdd174cbec0f5b398e7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001171843-26-002005.hdr.sgml**: 20260330

**ACCESSION NUMBER**: 0001171843-26-002005

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 297

**CONFORMED PERIOD OF REPORT**: 20260330

**FILED AS OF DATE**: 20260330

**DATE AS OF CHANGE**: 20260330

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Equinox Gold Corp.
- **CENTRAL INDEX KEY:** 0001756607
- **STANDARD INDUSTRIAL CLASSIFICATION:** GOLD & SILVER ORES [1040]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A1
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39038
- **FILM NUMBER:** 26809862

**BUSINESS ADDRESS:**
- **STREET 1:** 700 WEST PENDER ST., SUITE 1501
- **CITY:** VANCOUVER
- **STATE:** A1
- **ZIP:** V6C 1G8
- **BUSINESS PHONE:** 604-558-0560

**MAIL ADDRESS:**
- **STREET 1:** 700 WEST PENDER ST., SUITE 1501
- **CITY:** VANCOUVER
- **STATE:** A1
- **ZIP:** V6C 1G8

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO**

**RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934**

For the month of March, 2026.

Commission File Number: 001-39038

---

| |
|:---|
| EQUINOX GOLD CORP. |
| (Translation of registrant's name into English) |
| 700 West Pender Street, Suite 1501, Vancouver, British Columbia, V6C 1G8 |
| (Address of principal executive offices) |

---

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☐ Form 40-F ☒

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit Number** | **Description** |
| [99.1](exh_991.htm) | [Technical Report Valentine Gold Mine](exh_991.htm) |
| [99.2](exh_992.htm) | [Technical Report Greenstone Gold Mine](exh_992.htm) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **EQUINOX GOLD CORP.** | **EQUINOX GOLD CORP.** |
|  | (Registrant) | (Registrant) |
| Date: March 30, 2026 | By: | */s/ Jacqlin Anthony* |
|  |  | Name: Jacqlin Anthony |
|  |  | Title: General Counsel |

---

## Exhibit 99.1

**Exhibit 99.1**

![](trcover.jpg)

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

**NI 43-101 Technical Report, Greenstone Property, Ontario, Canada**

SLR Project No.: 123.020701.00001

Prepared by

SLR Consulting (Canada) Ltd.

55 University Ave., Suite 501

Toronto, ON M5J 2H7

for

Equinox Gold Corp.

Suite 1501 – 700 West Pender St.

Vancouver, BC V6C 1G8

Canada

Effective Date - December 31, 2025

Signature Date - March 30, 2026

---

| | |
|:---|:---|
| Prepared by:<br>Alex Thompson, P.Geo.<br> Niel de Bruin, P.Geo.<br> Kelly Boychuk, P.Eng.<br> Philippe Lebleu, P.Eng.<br> Scott Davidson, P.Geo.<br> Neil Lincoln, P.Eng.<br>Peer Reviewed by:<br>Donald Cameron, P.G.<br> Linda Dufour, P.Eng.<br> Balaji Subrahmanyan, SME(RM)<br> Mark Thorpe, Ph.D.<br> Jason J. Cox, P.Eng. | Approved by:<br>Project Manager<br> Balaji Subrahmanyan, SME(RM)<br>Project Director<br> Grant A. Malensek, P.Eng.<br>|

---

![](trfootimg.jpg)

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### **Table of Contents**

---

| | |
|:---|:---|
| **1.0 Summary** | **1-14** |
| 1.1 Introduction | 1-14 |
| 1.2 Technical Summaries | 1-14 |
| 1.3 Interpretation and Conclusions | 1-26 |
| 1.4 Recommendations | 1-27 |
| **2.0 Introduction** | **2-1** |
| 2.1 Terms of Reference and Purpose | 2-1 |
| 2.2 Qualified Persons | 2-1 |
| 2.3 Sources of Information | 2-2 |
| 2.4 List of Abbreviations | 2-3 |
| **3.0 Reliance on Other Experts** | **3-1** |
| **4.0 Property Description and Location** | **4-1** |
| 4.1 Location and Access | 4-1 |
| 4.2 Property Description | 4-2 |
| 4.3 Permits | 4-10 |
| 4.4 Environmental Liabilities | 4-10 |
| 4.5 Significant Risks | 4-10 |
| **5.0 Accessibility, Climate, Local Resources, Infrastructure and Physiography** | **5-1** |
| 5.1 Accessibility | 5-1 |
| 5.2 Climate | 5-2 |
| 5.3 Local Resources | 5-3 |
| 5.4 Infrastructure | 5-3 |
| 5.5 Physiography | 5-4 |
| **6.0 History** | **6-1** |
| 6.1 Hardrock Property | 6-1 |
| 6.2 Brookbank Property | 6-8 |
| 6.3 Viper Property | 6-11 |
| **7.0 Geological Setting and Mineralization** | **7-1** |
| 7.1 Greenstone Mine Regional Geological Setting | 7-1 |
| 7.2 Property Geology | 7-4 |
| 7.3 Alteration | 7-7 |
| 7.4 Mineralization | 7-8 |
| 7.5 Other Greenstone Mine Property Deposits | 7-18 |
| **8.0 Deposit Types** | **8-1** |

---

i ![](trfootimg.jpg)

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | |
|:---|:---|
| 8.1 Hydrothermal Iron Formation-Hosted Gold Deposits | 8-1 |
| **9.0 Exploration** | **9-1** |
| **10.0 Drilling** | **10-1** |
| 10.1 Greenstone Mine | 10-1 |
| 10.2 Other Properties – Brookbank, Kailey, and Key Lake | 10-7 |
| 10.3 Conclusions | 10-17 |
| **11.0 Sample Preparation, Analyses, and Security** | **11-1** |
| 11.1 Sampling Methods | 11-1 |
| 11.2 Preparation and Analytical Laboratories | 11-5 |
| 11.3 Sample Preparation Procedures | 11-6 |
| 11.4 Analytical Testing | 11-7 |
| 11.5 Geological Database | 11-10 |
| 11.6 Sample Security and Storage | 11-10 |
| 11.7 Quality Assurance and Quality Control Programs | 11-11 |
| 11.8 Conclusions | 11-17 |
| 11.9 Recommendations | 11-17 |
| **12.0 Data Verification** | **12-1** |
| 12.1 Drill Hole and Exploration Data Verification | 12-1 |
| 12.2 Mining Engineering | 12-7 |
| 12.3 Metallurgical Testing | 12-7 |
| 12.4 Environment | 12-7 |
| 12.5 Infrastructure | 12-7 |
| **13.0 Mineral Processing and Metallurgical Testing** | **13-1** |
| 13.1 Introduction | 13-1 |
| 13.2 Feasibility Study Test Work (2014–2015) | 13-1 |
| 13.3 2019 Test Work Program | 13-20 |
| 13.4 2024 Gold Deportment Test Work | 13-26 |
| 13.5 Recommendations | 13-28 |
| 13.6 Gold Recovery | 13-28 |
| **14.0 Mineral Resource Estimates** | **14-1** |
| 14.1 Greenstone Mine Mineral Resource Estimate | 14-1 |
| 14.2 Kailey, Key Lake and Brookbank Deposits Mineral Resource Estimates | 14-32 |
| **15.0 Mineral Reserve Estimates** | **15-1** |
| 15.1 Mineral Resource Block Model | 15-1 |

---

ii ![](trfootimg.jpg)

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | |
|:---|:---|
| 15.2 Pit Optimization | 15-1 |
| 15.3 Mine Design | 15-5 |
| 15.4 Factors Affecting Mineral Reserve Estimates | 15-7 |
| 15.5 Comments on Mineral Reserve Estimates | 15-7 |
| **16.0 Mining Methods** | **16-1** |
| 16.1 Mine Designs | 16-1 |
| 16.2 Production Schedule | 16-5 |
| 16.3 Mine Operations and Equipment Selection | 16-8 |
| 16.4 Fleet Management | 16-13 |
| 16.5 Pit-Slope Monitoring and Voids Management | 16-13 |
| 16.6 Mining Equipment | 16-13 |
| **17.0 Recovery Methods** | **17-1** |
| 17.1 Overview | 17-1 |
| 17.2 Process Description | 17-2 |
| 17.3 Energy, Water and Process Material Requirements | 17-6 |
| **18.0 Project Infrastructure** | **18-1** |
| 18.1 Tailings Management | 18-1 |
| 18.2 Goldfield Creek Diversion | 18-5 |
| 18.3 Water Management | 18-6 |
| 18.4 Waste Rock Storage and Ore Stockpiles | 18-7 |
| 18.5 Power Supply and Distribution | 18-8 |
| 18.6 Other Infrastructure | 18-8 |
| **19.0 Market Studies and Contracts** | **19-1** |
| 19.1 Gold Price for Mineral Reserves and Mineral Resources | 19-1 |
| 19.2 Doré Refining and Gold Bullion Sales | 19-1 |
| 19.3 Contracts and Agreements | 19-1 |
| **20.0 Environmental Studies, Permitting, and Social or Community Impact** | **20-1** |
| 20.1 Site Environmental Conditions and Monitoring Programs | 20-1 |
| 20.2 Environmental Approvals | 20-12 |
| 20.3 Waste and Waste Management | 20-15 |
| 20.4 Social and Community Considerations | 20-15 |
| 20.5 Closure, Decommissioning, and Reclamation | 20-16 |
| 20.6 Environmental Liabilities and Issues | 20-18 |
| **21.0 Capital and Operating Costs** | **21-1** |

---

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | |
|:---|:---|
| 21.1 Capital Cost Estimates | 21-1 |
| 21.2 Operating Cost Estimates | 21-1 |
| **22.0 Economic Analysis** | **22-1** |
| **23.0 Adjacent Properties** | **23-1** |
| **24.0 Other Relevant Data and Information** | **24-1** |
| **25.0 Interpretation and Conclusions** | **25-1** |
| 25.1 Conclusions | 25-1 |
| 25.2 Risks and Opportunities | 25-4 |
| **26.0 Recommendations** | **26-1** |
| 26.1 Quality Control and Quality Assessment Recommendations | 26-1 |
| 26.2 Exploration Recommendations | 26-1 |
| 26.3 Geotechnical Recommendations for Mining and Infrastructure | 26-1 |
| 26.4 Mineral Processing and Metallurgical Testing Recommendations | 26-2 |
| 26.5 Mining Engineering Recommendations | 26-2 |
| 26.6 Environmental Recommendations | 26-2 |
| 26.7 Mineral Resources Recommendations | 26-3 |
| **27.0 References** | **27-1** |
| **28.0 Date and Signature Date** | **28-1** |
| **29.0 Certificate of Qualified Person** | **29-1** |
| 29.1 Kelly Boychuk | 29-1 |
| 29.2 Scott Davidson | 29-2 |
| 29.3 Niel de Bruin | 29-3 |
| 29.4 Philippe Lebleu, P.Eng. | 29-4 |
| 29.5 Neil Lincoln | 29-5 |
| 29.6 Alexander Thompson | 29-6 |
| **30.0 Appendix** | **30-1** |

---

#### Tables

---

| | |
|:---|:---|
| Table 1-1: Summary of 2025 Greenstone Mine Mineral Resource (Inclusive of Mineral Reserves) | 1-15 |
| Table 1-2: Summary of 2025 Greenstone Mine Mineral Resource (Exclusive of Mineral Reserves) | 1-16 |
| Table 1-3: Key Lake Mineral Resource Summary – Effective Date December 31, 2025 | 1-17 |
| Table 1-4: Kailey Mineral Resource Summary | 1-17 |

---

iv ![](trfootimg.jpg)

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | |
|:---|:---|
| Table 1-5: Brookbank Mineral Resource Summary – Effective Date December 31, 2025 | 1-18 |
| Table 1-6: Greenstone Mine Open Pit Mineral Reserve Estimate – Effective Date December 31, 2025 | 1-19 |
| Table 1-7: Process Plant Performance Summary (2024-2025) | 1-21 |
| Table 1-8: Non-Sustaining Capital Cost LOM Summary | 1-25 |
| Table 1-9: Sustaining Capital Cost LOM Summary | 1-25 |
| Table 1-10: Operating Costs Summary | 1-25 |
| Table 1-11: Combined Cost Estimate of Recommendations | 1-29 |
| Table 2-1: Summary of Qualified Persons | 2-1 |
| Table 4-1: Summary of Types of Land Tenure in Greenstone Land Package, as of December 31, 2025 | 4-3 |
| Table 6-1: Gold Production, Diamond Drilling, and Underground Development Statistics of Past-Producing Mines on Hardrock Property | 6-2 |
| Table 6-2: Summary of Post-1980 Exploration Activity on the Greenstone Gold Mine Area of the Hardrock Property | 6-3 |
| Table 6-3: Summary of Brookbank Property Exploration History | 6-9 |
| Table 6-4: Summary of Viper Property Exploration History | 6-11 |
| Table 7-1: Summary of Deformation and Gold Mineralization Events—Beardmore–Geraldton Greenstone Belt | 7-3 |
| Table 7-2: Historical and Current Nomenclature of Mineralized Areas at Greenstone Mine | 7-17 |
| Table 10-1: Greenstone Mine Drilling History Since 1987 | 10-1 |
| Table 10-2: Summary of Brookbank Property Drilling Programs | 10-10 |
| Table 10-3: Summary of the Kailey Property Drilling Programs | 10-13 |
| Table 10-4: Summary of the Key Lake Property Drilling Programs | 10-16 |
| Table 11-1: RCGC program CRM Performance, September 2022 to August 2025 | 11-15 |
| Table 13-1: Composites, PQ Core, and Dilution Sample Comminution Tests Results | 13-2 |
| Table 13-2: Comminution Test Results per Lithology | 13-2 |
| Table 13-3: Comminution Tests Results | 13-3 |
| Table 13-4: Global, Master, Variability, and Low-Grade Sample Composition | 13-3 |
| Table 13-5: Select Head Assays | 13-4 |
| Table 13-6: Gold Deportment Results | 13-5 |
| Table 13-7: Global Composite Whole-of-Ore Leach Results | 13-8 |
| Table 13-8: Global Composite Gravity Tailings Leach Results (G-1) | 13-8 |
| Table 13-9: Global Composite Gravity Tailings Leach Results (G-2) | 13-9 |
| Table 13-10: Global Composite Gravity Tailings Leach Results (G-25 and G-26) | 13-10 |

---

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | |
|:---|:---|
| Table 13-11: Gravity Tailings Leach Results | 13-12 |
| Table 13-12: Two-Stage Cyanide Destruction Discharge Solution Analysis | 13-14 |
| Table 13-13: Dynamic-Settling Test Results | 13-15 |
| Table 13-14: Underflow Rheology Test Results | 13-16 |
| Table 13-15: HPGR Test Sample Preparation Details | 13-16 |
| Table 13-16: Labwal Test Results | 13-17 |
| Table 13-17: ATWAL Tests Results | 13-18 |
| Table 13-18: Bond Ball Mill Grindability Tests Results | 13-18 |
| Table 13-19: Head Assays | 13-21 |
| Table 13-20: Whole of Ore Cyanidation Leach Summary | 13-22 |
| Table 13-21: Gravity Tailings Cyanidation Leach Summary | 13-23 |
| Table 13-22: Gold Deportment Test Results | 13-27 |
| Table 13-23: Leach Residue Grade Algorithms | 13-28 |
| Table 14-1: Summary of the Drilling Database for the Greenstone Mine for the 2025 Mineral Resource Estimate | 14-2 |
| Table 14-2: Summary Statistics for the Uncapped Raw Assays | 14-9 |
| Table 14-3: Summary Statistics for the 2.5 m Composites (Uncapped) | 14-9 |
| Table 14-4: Summary Statistics of Capped 2.5 m Composites | 14-9 |
| Table 14-5: Composite Lengths for Arsenic, Sulphur and Iron | 14-11 |
| Table 14-6: Capping of Outlier Values for Arsenic and Sulphur | 14-11 |
| Table 14-7: Back Transformed Variogram Parameters for All Domains | 14-13 |
| Table 14-8: Final Search Ellipsoid Parameters and Threshold Dimensions | 14-15 |
| Table 14-9: Bulk Density Assigned to Block Model by Lithology Domain | 14-16 |
| Table 14-10: Block Model Properties | 14-17 |
| Table 14-11: Volume Comparison Between Wireframes and Block Model | 14-20 |
| Table 14-12: Comparison of Mean Block Grades for OK, ID2, ID3, and NN Estimates for Mineralized Domains | 14-21 |
| Table 14-13: Comparison of Mean Block Grades with Declustered Composites by Mineralized Domain | 14-22 |
| Table 14-14: Comparison of Re-blocked 2025 Mineral Resource Estimate to Plant Adjusted with Mining Actuals to December 31, 2025 | 14-26 |
| Table 14-15: 2025 Greenstone Mine Pit Optimization Parameters | 14-29 |
| Table 14-16: Input Parameters Used for the Underground Cut-Off Grade and Mineable Stopes Generation | 14-30 |
| Table 14-17: Summary of Mineral Resource Estimate (Inclusive of Mineral Reserves) for the Greenstone Mine – Effective Date December 31, 2025 | 14-31 |

---

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | |
|:---|:---|
| Table 14-18: 2025 Mineral Resources (Exclusive of Mineral Reserves) for the Greenstone Mine – Effective Date December 31, 2025 | 14-32 |
| Table 14-19: Length-Weighted Assays Statistics Showing Grade Capping Levels and Metal Loss Factors | 14-36 |
| Table 14-20: Length-Weighted 2 m Composite Statistics of Capped Gold Grades by Domain | 14-37 |
| Table 14-21: Key Lake Deposit Block Model Attributes | 14-38 |
| Table 14-22: Statistical Summary of Bulk-Density Data for the Key Lake Deposit | 14-39 |
| Table 14-23: Summary of Search Parameters — Key Lake Deposit | 14-40 |
| Table 14-24: Global Statistical Comparison between Blocks and Declustered Composites for all Estimation Passes at Key Lake | 14-41 |
| Table 14-25: Economic Parameters used in the Open Pit Analysis for the Key Lake Deposit | 14-44 |
| Table 14-26: Summary of the Key Lake Mineral Resource – Effective Date December 31, 2025 | 14-45 |
| Table 14-27: Length-Weighted Assays Statistics Showing Grade Capping Levels and Metal Loss Factors | 14-48 |
| Table 14-28: Length-Weighted 2 m Composite Statistics of Capped Gold Grades by Domain | 14-49 |
| Table 14-29: Variogram Parameters for the Kailey Deposit | 14-50 |
| Table 14-30: Kailey Deposit Block Model Attributes | 14-51 |
| Table 14-31: Statistical Summary of Bulk Density Data for the Kailey Deposit | 14-52 |
| Table 14-32: Summary of Search Parameters — Kailey Deposit | 14-53 |
| Table 14-33: Economic Parameters used in the Open Pit Analysis for Kailey Deposit | 14-55 |
| Table 14-34: Summary of Kailey Open Pit Mineral Resource – Effective Date December 31, 2025 | 14-56 |
| Table 14-35: Length-Weighted Assays Statistics Showing Grade Capping Levels and Metal Loss Factors | 14-60 |
| Table 14-36: Length-Weighted Composite Statistics of Capped Gold Grades by Domain | 14-61 |
| Table 14-37: Variogram Parameters for the Brookbank Deposit | 14-62 |
| Table 14-38: Brookbank Main Deposit Block Model Attributes | 14-62 |
| Table 14-39: Statistical Summary of Bulk Density Data for the Brookbank Deposit | 14-63 |
| Table 14-40: Summary of Search Parameters—Brookbank Deposit | 14-64 |
| Table 14-41: Global Statistical Comparison between Blocks and Declustered Composites for all Estimation Passes at Brookbank | 14-67 |
| Table 14-42: Economic Parameters used in the Open Pit Analysis | 14-68 |
| Table 14-43: Economic Parameters used in the Underground Analysis | 14-69 |

---

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | |
|:---|:---|
| Table 14-44: Summary of the Brookbank Mineral Resource – Effective Date December 31, 2025 | 14-71 |
| Table 15-1: Greenstone Mine Mineral Reserve Statement – Effective Date December 31, 2025 | 15-1 |
| Table 15-2: Reconciliation Mining Model versus Plant Actuals (January – October 2025) | 15-2 |
| Table 15-3: Greenstone Pit Optimization Parameters | 15-2 |
| Table 15-4: Greenstone Mine Pit Optimization Results | 15-5 |
| Table 16-1: Pit Phase Design Summary | 16-1 |
| Table 16-2: Pit Wall Geotechnical Design Criteria | 16-2 |
| Table 16-3: Waste Rock Dump Design Criteria | 16-3 |
| Table 16-4: Waste Rock Dump and TMF Storage Requirements | 16-4 |
| Table 16-5: LOM Production Schedule | 16-7 |
| Table 16-6: Drill and Blast Parameters | 16-8 |
| Table 16-7: Pre-Split Parameters | 16-10 |
| Table 16-8: Loading Specifications | 16-10 |
| Table 16-9: Mining Equipment Usage Assumptions | 16-11 |
| Table 17-1: Process Plant Performance Summary (2024-2025) | 17-1 |
| Table 18-1: Collection Ponds - Existing | 18-7 |
| Table 20-1: Current Permits and Approvals for the Greenstone Gold Mine. | 20-12 |
| Table 21-1: Non-Sustaining Capital Cost LOM Summary | 21-1 |
| Table 21-2: Sustaining Capital Cost LOM Summary | 21-1 |
| Table 21-3: Operating Costs Summary | 21-2 |
| Table 21-4: Peak Operations Workforce | 21-2 |
| Table 25-1: Greenstone Mine LOM Values | 25-1 |
| Table 26-1: Combined Cost estimate of Recommendations | 26-3 |
| Table 30-1: List of Hardrock (Kenogamisis) Property Patents, Leases and Mining Licenses of Occupation | 30-1 |
| Table 30-3: Brookbank-Kenogamisis Bridge Cell Claims and Leases | 30-23 |
| Table 30-4: Brookbank Leases | 30-58 |
| Table 30-5: Viper Claims | 30-59 |

---

#### Figures
Figure 1-1: LOM Annual Tonnes Mined 1-20 <br> Figure 1-2: Overall Flowsheet 1-22 <br> Figure 4-1: Location of the Greenstone Gold Mine 4-2

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

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| | |
|:---|:---|
| Figure 4-2: Land Tenure Map | 4-3 |
| Figure 4-3: Hardrock Property Land Tenure and Past Producing Mines | 4-5 |
| Figure 4-4: Hardrock Property Royalties Map | 4-6 |
| Figure 4-5: Brookbank and Brookbank-Kenogamisis Bridge Properties' Land Tenure | 4-8 |
| Figure 4-6: Brookbank Property Joint Venture Map & Royalty | 4-9 |
| Figure 4-7: Viper Property Land Tenure. | 4-10 |
| Figure 5-1: Greenstone Mine Main Access Routes | 5-2 |
| Figure 5-2: Greenstone Mine Site Layout | 5-4 |
| Figure 6-1: Past-Producing Mines on the Greenstone Gold Mine Claims | 6-1 |
| Figure 7-1: Plan of Major Geological Elements—Wabigoon Subprovince | 7-2 |
| Figure 7-2: Regional Geology of the Beardmore-Geraldton Area | 7-2 |
| Figure 7-3: Geology of Historical Mines near Greenstone Mine | 7-4 |
| Figure 7-4: Arkosic Unit within Greywackes, Hardrock Deposit Area, DDH 19-21 | 7-5 |
| Figure 7-5: Contact of Hardrock Porphyry and Greywacke | 7-6 |
| Figure 7-6: Contact of Sheared Gabbro (Right) with BIF (Left), DDH 19-52 | 7-7 |
| Figure 7-7: Quartz Carbonate Veins and Sericite Carbonate Alteration at the F Zone | 7-8 |
| Figure 7-8: Block Diagram of North Zone at the Historical MacLeod–Cockshutt and Hardrock Mines (showing orebodies in black) | 7-9 |
| Figure 7-9: Plan View of Greenstone Lithostructural Model showing Mineralized Zones at 300 m (top) and -200 m (bottom) Elevations (Projection: UTM Zone 16; NAD 83) | 7-10 |
| Figure 7-10: Cross-Section of Greenstone Mine Lithostructural Model with Mineralized Zones, Looking West; Top: 4200E; Bottom: 4950E | 7-11 |
| Figure 7-11: Greenstone Mine, East Pit at West Wall (Porphyry Hill)—Historical Underground Workings Visible Along Deformed Iron Formation-Porphyry Contact | 7-13 |
| Figure 7-12: Greenstone Mine, East Pit at Southeast Corner—Folded Porphyry and Greywacke Units Crosscut by Younger Diabase Dykes | 7-14 |
| Figure 7-13: Deformed Quartz-Carbonate Stringers in BIF, Headframe Outcrop | 7-15 |
| Figure 7-14: Folded Quartz-Carbonate Veins within Altered Quartz-Porphyry, Porphyry Hill Sulphide Replacement Mineralization | 7-16 |
| Figure 7-15: Brookbank Property Geology | 7-20 |
| Figure 7-16: Exposure of the Brookbank Mineralized Corridor showing Intense Hydrothermal Alteration | 7-21 |
| Figure 7-17: Generalized Geology of the Key Lake Property | 7-22 |
| Figure 7-18: Example of Fracture-Controlled Pyrite Mineralization in Sericite-Silica Arkosic Wacke, 0.54 g/t Au | 7-23 |
| Figure 7-19: Example of Sericite-Altered Quartz-Feldspar Porphyry, 7.75 g/t Au | 7-23 |

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ix ![](trfootimg.jpg)

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

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| | |
|:---|:---|
| Figure 7-20: Kailey Deposit Geology | 7-24 |
| Figure 7-21: 3D View of the Kailey, North, South, and No. 9 Vein Mineralization with the Folded Arkosic Host Unit | 7-25 |
| Figure 7-22: Geology of the Viper Property | 7-27 |
| Figure 8-1: Setting of Greenstone-Hosted Gold Deposits | 8-3 |
| Figure 8-2: Sheeted Quartz-Carbonate Veins Hosted in Greywacke, DDH-19-54 | 8-5 |
| Figure 10-1: Plan View of RC Grade Control Collars within Phase 1A and Phase 1B Pit Design Boundaries | 10-5 |
| Figure 10-2: Plan View, 2025 Diamond Drilling within the Outer Footprint of the Final Pit Design | 10-6 |
| Figure 10-3: Vertical Section Looking West of Hole GS25-019 (view clipped +/- 20 m) | 10-7 |
| Figure 10-4: Plan View of Brookbank Deposit Area with all Surveyed and Estimated Diamond Drill Collars | 10-11 |
| Figure 10-5: Brookbank Deposit – Representative Cross-Section Looking West (view clipped +/- 10 m) | 10-12 |
| Figure 10-6: Plan View of Kailey Deposit Area with All Surveyed and Estimated Diamond Drill Collars | 10-14 |
| Figure 10-7: Kailey Deposit – Representative Cross-Section Looking Southwest (view clipped +/- 25 m) | 10-15 |
| Figure 10-8: Plan View of Key Lake Deposit area with All Surveyed and Estimated Diamond Drill Collars | 10-16 |
| Figure 10-9: Key Lake Deposit – Representative Cross-Section Looking West (View clipped +/- 20 m) | 10-17 |
| Figure 11-1: Hardab 5K6 Maxidrill RC Drill Rig with Metzke 1200 Cyclone w 3 Chute Cone Splitter (hyd) in Operation | 11-1 |
| Figure 11-2: Principal RCGC Sample (Small) and Metallurgical Sample (Large) from a 2 m RCGC Interval | 11-2 |
| Figure 11-3: Drill Core—Sawing Shack | 11-3 |
| Figure 11-4: Full Bench Sampling of a 10 m Blast Hole | 11-4 |
| Figure 11-5: Full Bench Sampling on the "Short Wall" Face of the Spoil Pile | 11-5 |
| Figure 11-6: Results of Blank Samples used for Quality Control during RCGC Drilling at Greenstone between September 2022 and August 2025 | 11-12 |
| Figure 11-7: Standard OREAS 251b results – RCGC Program | 11-13 |
| Figure 11-8: Standard OREAS 240b results – RCGC program | 11-13 |
| Figure 11-9: Standard OREAS 240 results – RCGC Program | 11-14 |
| Figure 11-10: Standard OREAS 235b results – RCGC Program | 11-14 |
| Figure 11-11: Standard OREAS 231b results – RCGC program | 11-15 |
| Figure 11-12: Field Duplicate Results – RCGC program, September 2022 to August 2025 | 11-16 |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

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| Figure 11-13: Relative Percent Difference versus Average Grade – RCGC program, September 2022 to August 2025 | 11-17 |
| Figure 13-1: Composite Gravity Recovery Results | 13-7 |
| Figure 13-2: Gold Recovery as a Function of Grind Size (Global Composite) | 13-11 |
| Figure 13-3: Pilot-Plant Test Third-Cycle Size Distribution | 13-20 |
| Figure 14-1: View of All Drilling Used for the 2025 Mineral Resource estimate, Showing the 2025 Resource Pit Shell (Red) for Reference | 14-3 |
| Figure 14-2: Inclusion of Late-stage Diabase Dykes and Iron Formation Update | 14-4 |
| Figure 14-3: Three-Dimensional View of the 2025 Mineralization | 14-6 |
| Figure 14-4: Vertical Section View of the 2025 Mineralization Domains | 14-7 |
| Figure 14-5: Underground Void Model Coloured by Void Fill | 14-8 |
| Figure 14-6: Probability Plot Au (g/t) for the SP Zone | 14-10 |
| Figure 14-7: Normal Score Variogram for the SP Zone (Domain 35) | 14-12 |
| Figure 14-8: Back Transformed Variogram Model for the SP Zone (Domain 35) | 14-13 |
| Figure 14-9: Plan View Showing Estimated Block Grades | 14-18 |
| Figure 14-10: Section 504900 mE Showing Estimated Block Grades, Drill Holes, Mineralized Domains, and 2025 Resource Pit Shell | 14-19 |
| Figure 14-11: Section 504800 mE at 25 m Width Showing Estimated Block Grades, Drill Holes, and 2025 Resource Pit Shell | 14-20 |
| Figure 14-12: Section 505300 mE at 50 m Width Showing Estimated Block Grades, Drill Holes, and 2025 Resource Pit Shell | 14-21 |
| Figure 14-13: Swath Plot for Gold for All Mineralization Domains by Easting | 14-23 |
| Figure 14-14: Swath Plots for Gold for All Mineralization Domains by Northing | 14-24 |
| Figure 14-15: Swath Plots for Gold for All Mineralization Domains by Elevation | 14-25 |
| Figure 14-16: Q:Q Plot Comparing OK, ID<sup>2</sup> and NN Estimates for Domain 31 (F Zone) | 14-26 |
| Figure 14-17: Plan View (300 m Elevation) and Longitudinal View Looking North (5,503,000 mN) Showing Categorized Mineral Resources | 14-29 |
| Figure 14-18: Modelled Domains of the Key Lake Deposit, Looking North | 14-34 |
| Figure 14-19: Typical Section at 492100 E (Looking East) Showing the Mineralization Wireframes and Overburden (OVB); Drill Hole Traces Show Gold Grades (g/t) | 14-35 |
| Figure 14-20: Example of a Probability Plot for the KL-5 Domain | 14-36 |
| Figure 14-21: Plan View of Key Lake Block Model, Wireframes, and Drill Traces | 14-38 |
| Figure 14-22: 3D View of Key Lake Gold Grade Distribution Looking North | 14-40 |
| Figure 14-23: Swath Plot Comparing Block Gold Grades (Blue) with Capped Composite Gold Grades (Red Dotted) for the 12 Domains Grouped Together, by Easting | 14-42 |
| Figure 14-24: 3D View of the Key Lake Deposit Pit Optimization ($2,300 Pit Shell) | 14-43 |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

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| Figure 14-25: 3D View of the Key Lake Deposit Mineral Resource Classification | 14-44 |
| Figure 14-26: 3D View of the Kailey Deposit Showing the Mineralization Domains (Looking Northwest) | 14-47 |
| Figure 14-27: Typical Section at 503175 E Showing Mineralization Domains (Looking East) | 14-48 |
| Figure 14-28: Example of a Probability Plot for the Main Domain | 14-49 |
| Figure 14-29: Example Variogram for the Major Axis of the Kailey Domains | 14-50 |
| Figure 14-30: Plan View of Kailey Block Model, Wireframes, and Drill Traces | 14-51 |
| Figure 14-31: Kailey Gold Grade Distribution (in g/t) in Resource Block Model, Looking North; Underground Development Shown in Grey | 14-53 |
| Figure 14-32: Section View of the Kailey Deposit Pit Optimization ($2,300 Pit Shell), Looking North | 14-54 |
| Figure 14-33: Section View of the Kailey Deposit Mineral Resource Classification, Looking North | 14-55 |
| Figure 14-34: Mineralization Domains of the Brookbank Deposits, Looking Northwest | 14-58 |
| Figure 14-35: Typical Section (Looking East, at 439775 E) Showing the Footwall, Hanging Wall, and Alteration Zone Domains | 14-59 |
| Figure 14-36: Example of a Probability Plot for the FW Vein | 14-61 |
| Figure 14-37: Plan View of Brookbank Block Model, Wireframes, and Drill Traces | 14-63 |
| Figure 14-38: Brookbank Gold-Grade Distribution (in g/t), Looking North | 14-66 |
| Figure 14-39: Swath Plot Comparing Block Gold Grades (Blue) with Capped Composite Gold Grades (Red Dotted) for the FW Domain, by Easting | 14-67 |
| Figure 14-40: Section View of the Brookbank Mineral Resource Classification, Looking North | 14-70 |
| Figure 15-1: Pit Limit Physical Boundary Constraint | 15-4 |
| Figure 15-2: 3D View Looking North of Final Open Pit (beige) with Historical Underground Voids (grey) | 15-6 |
| Figure 15-3: Ultimate Pit Design | 15-7 |
| Figure 16-1: Mining Phases | 16-1 |
| Figure 16-2: 3D View of the Conceptual Ore Stockpiles | 16-4 |
| Figure 16-3: Ex-pit material by Phase | 16-5 |
| Figure 16-4: Annual Mill Feed Tonnage | 16-6 |
| Figure 16-5: Annual LOM Ore Stockpile Inventory | 16-6 |
| Figure 16-6: Annual Recovered Gold Ounces and Diluted Head Grade | 16-7 |
| Figure 16-7: Primary Mine Equipment LOM Requirements | 16-14 |
| Figure 17-1: Overall Flowsheet | 17-2 |
| Figure 18-1: Tailings Management Facility (October 2025) | 18-3 |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Figure 20-1: Location of the Greenstone Gold Mine and Project Development Area (PDA) 20-2 <br> Figure 20-2: Greenstone Gold Mine Water Quality Monitoring Stations 20-7 <br> Figure 23-1: Adjacent Properties to Greenstone Gold Mine Claims 23-1

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

1.0 Summary

1.1 Introduction

The Greenstone Property (the Property) comprises the operating Greenstone Gold Mine (the Mine) and Mineral Resources at the Key Lake, Kailey and Brookbank deposits. The Mine formerly known as the Hardrock Project, is 100% owned by Equinox Gold Corp. (Equinox) and was officially opened on August 29, 2024, achieving commercial production on November 6, 2024.

Equinox (TSX: EQX; NYSE American: EQX) is a Canadian-based gold mining company with a diversified portfolio of long-life operations and growth projects across the Americas.

Mining is being carried out using conventional open pit techniques, at a production rate of up to 77 million tonnes (Mt) of material moved per year. Production is ramping up to an ore processing rate of 27,000 tonnes per day (t/d, 9.86 Mt per year [Mt/a]). The mine life is projected to be 14 years, with an additional five years of stockpile processing after mining is completed. Ore is processed via primary and secondary crushing and high pressure grinding roll (HPGR)-Ball mill comminution circuits, followed by a gravity circuit. Gravity tailings are treated via a leach–carbon-in-pulp (CIP) circuit and associated gold recovery and carbon handling circuits to produce gold doré.

This Technical Report supersedes the previous Technical Report titled "Technical Report on the Greenstone Gold Mine, Geraldton, Ontario, Canada" with an effective date of June 30, 2024, and a published date of October 1, 2024. This Technical Report includes updates to the Mineral Resources and Mineral Reserves, based on operational experience gained since the opening of the Mine, and was prepared in accordance with NI 43-101 *Standards of Disclosure for Mineral Projects* (NI 43-101). Qualified Persons (QPs) for this report are employees of Equinox, with report preparation and peer review provided by SLR International Corporation (SLR).

Unless otherwise stated, all the information and data contained in the Technical Report or used in its preparation have been provided by Equinox, and all currencies are expressed in US dollars ($).

1.2 Technical Summaries

1.2.1 Property Description and Land Tenure

The Property is approximately 275 km northeast of Thunder Bay, Ontario. The Property includes three blocks of claims, Hardrock, Brookbank, and Viper, which are spread over a distance of more than 100 km and are in close proximity to the Trans-Canada Highway between the towns of Beardmore and Longlac, Ontario. The Hardrock claim group includes the Hardrock, Key Lake, and Kailey deposits.

The Property, comprising a contiguous block of patented claims, mining leases, licences of occupation, and cell claims, covers 39,843 hectares (ha), of which 16,108 ha relates to Mine claims. All claims, leases, and licences of occupation are beneficially held by GGM and are subject to terms under several agreements.

1.2.2 Mineral Resource Estimates

This Technical Report presents updated Mineral Resource estimates for the Greenstone Mine and the Key Lake, Kailey, and Brookbank deposits, with an effective date of December 31, 2025. Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards for Mineral Resources and Mineral Reserves (CIM (2014) definitions), which are incorporated by reference in NI 43 101, were used for Mineral Resource classification. The Qualified Person (QP) for all Mineral Resource estimates is Niel de Bruin, P.Geo., Vice President, Mineral Resource, Equinox.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

The 2025 update incorporates significant new grade control RC drilling, an updated geological and lithostructural interpretation, refined mineralization wireframes, updated cost assumptions, and revised pit optimizations. At Greenstone, the updated Mineral Resource estimate reflects reconciliation against production since commissioning in April 2024 and improved local confidence near active mining areas. For Brookbank, Key Lake, and Kailey, no new drilling was completed; however, pit shells and underground constraints were re-optimized using consistent economic assumptions aligned with the Greenstone Mine.

Mineral Resources are reported both inclusive and exclusive of Mineral Reserves at Greenstone and exclusive of Mineral Reserves at the satellite deposits. All Mineral Resources have reasonable prospects for eventual economic extraction but do not demonstrate economic viability.

#### Greenstone Mine – Summary of 2025 Mineral Resource Estimate
The Greenstone Mine Mineral Resource estimate represents an update to the October 1, 2024, resource model. The estimate incorporates:

&nbsp;&nbsp;&nbsp;&nbsp;· An expanded drill hole database, including 1,339 additional RC grade control holes

&nbsp;&nbsp;&nbsp;&nbsp;· Updated lithological and structural interpretations

&nbsp;&nbsp;&nbsp;&nbsp;· Revised mineralization domains and grade shells

&nbsp;&nbsp;&nbsp;&nbsp;· Updated pit optimization at US$2,300/oz Au

&nbsp;&nbsp;&nbsp;&nbsp;· Inclusion of underground Mineral Resources constrained by mineable shapes

Gold mineralization is hosted in multiple structurally controlled domains including the North (N1, N2, Central), F, SP, Tenacity, and South zones. Ordinary kriging (OK) was used for gold estimation, supported by updated variography and dynamic anisotropy aligned with local geological controls.

Measured, Indicated, and Inferred Mineral Resources were classified based on drill spacing, estimation pass, distance to composites, and geological confidence, with post processing adjustments applied to mitigate over smoothing and isolated volumes.

Reconciliation against 2025 production indicates that the reblocked resource model is approximately 3% higher in grade than plant adjusted actuals, which is considered acceptable given the early stage of operations.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 1-1: Summary of 2025 Greenstone Mine Mineral Resource (Inclusive of Mineral Reserves)

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|:---|:---|:---|:---|:---|:---|:---|
| **Category** | **In-Pit >0.18 g/t Au** | **In-Pit >0.18 g/t Au** | **In-Pit >0.18 g/t Au** | **Underground >1.10 g/t Au** | **Underground >1.10 g/t Au** | **Underground >1.10 g/t Au** |
| **Category** | **Tonnage (kt)** | **Grade (g/t)** | **Contained Au (koz)** | **Tonnage (kt)** | **Grade (g/t)** | **Contained Au (koz)** |
| Measured | 7432 | 0.85 | 202 | 2 | 0.76 | 0.04 |
| Indicated | 192390 | 0.99 | 6129 | 22101 | 2.34 | 1661 |
| **M + I** | **199822** | **0.99** | **6331** | **22103** | **2.34** | **1661** |
| Inferred | 17841 | 0.86 | 491 | 16382 | 2.37 | 1247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***inclusive*** of Mineral Reserves<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***inclusive*** of Mineral Reserves<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***inclusive*** of Mineral Reserves<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***inclusive*** of Mineral Reserves<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***inclusive*** of Mineral Reserves<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***inclusive*** of Mineral Reserves<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***inclusive*** of Mineral Reserves<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding |

---

#### Table 1-2: Summary of 2025 Greenstone Mine Mineral Resource (Exclusive of Mineral Reserves)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Category** | **In-Pit >0.18 g/t Au** | **In-Pit >0.18 g/t Au** | **In-Pit >0.18 g/t Au** | **Underground >1.10 g/t Au** | **Underground >1.10 g/t Au** | **Underground >1.10 g/t Au** |
| **Category** | **Tonnage <br> (kt)** | **Grade <br> (g/t)** | **Contained Au<br> (koz)** | **Tonnage <br> (kt)** | **Grade (g/t)** | **Contained Au (koz)** |
| Measured | 21 | 0.51 | 0 | 1 | 0.63 | 0.01 |
| Indicated | 32470 | 1.28 | 1335 | 21479 | 2.36 | 1631 |
| **M + I** | **32491** | **1.28** | **1335** | **21479** | **2.36** | **1631** |
| Inferred | 14847 | 0.88 | 418 | 16335 | 2.37 | 1245 |
| Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***exclusive*** of Mineral Reserves.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding. | Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***exclusive*** of Mineral Reserves.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding. | Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***exclusive*** of Mineral Reserves.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding. | Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***exclusive*** of Mineral Reserves.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding. | Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***exclusive*** of Mineral Reserves.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding. | Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***exclusive*** of Mineral Reserves.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding. | Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***exclusive*** of Mineral Reserves.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding. |

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| | |
|:---|:---|
| 1-16 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

The QP is not aware of any environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other relevant factors that could materially affect the Mineral Resource estimate, except for uncertainty around the position, size, and geometry of voids from historical mine workings within the pit, which remains a risk to the Mineral Resource estimate.

#### Satellite Deposits – Summary
*<u>Key Lake</u>*

Key Lake is an open pit style deposit tested by 312 diamond drill holes. Gold mineralization occurs in multiple sub vertical zones controlled by lithology and structure. Due to poor variogram structure and internal dilution, ID³ interpolation was selected. No underground Mineral Resources are declared. The Mineral Resource estimate is unchanged from the prior estimate, aside from updated pit optimization parameters.

#### Table 1-3: Key Lake Mineral Resource Summary – Effective Date December 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Category** | **Tonnage (kt)** | **Grade (g/t Au)** | **Contained Au (koz)** |
| Indicated | 7738 | 0.82 | 205 |
| **M + I** | **7738** | **0.82** | **205** |
| Inferred | 4905 | 1.00 | 158 |
| Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. No Mineral Reserves have been estimated for Key Lake.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Mineral Resources are reported at an open pit minimum recovered gold cut-off grade of 0.18 g/t and is constrained within a pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimization of the pit shell is based on a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, incremental ore haulage costs of $3.47/t, refining and transportation costs of $3.29/oz of Au recovered, and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. The average metallurgical recovery is 90% and a royalty rate of 3.0% are assumed.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. No underground Mineral Resources are estimated.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Numbers may not add due to rounding. | Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. No Mineral Reserves have been estimated for Key Lake.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Mineral Resources are reported at an open pit minimum recovered gold cut-off grade of 0.18 g/t and is constrained within a pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimization of the pit shell is based on a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, incremental ore haulage costs of $3.47/t, refining and transportation costs of $3.29/oz of Au recovered, and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. The average metallurgical recovery is 90% and a royalty rate of 3.0% are assumed.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. No underground Mineral Resources are estimated.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Numbers may not add due to rounding. | Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. No Mineral Reserves have been estimated for Key Lake.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Mineral Resources are reported at an open pit minimum recovered gold cut-off grade of 0.18 g/t and is constrained within a pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimization of the pit shell is based on a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, incremental ore haulage costs of $3.47/t, refining and transportation costs of $3.29/oz of Au recovered, and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. The average metallurgical recovery is 90% and a royalty rate of 3.0% are assumed.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. No underground Mineral Resources are estimated.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Numbers may not add due to rounding. | Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. No Mineral Reserves have been estimated for Key Lake.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Mineral Resources are reported at an open pit minimum recovered gold cut-off grade of 0.18 g/t and is constrained within a pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimization of the pit shell is based on a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, incremental ore haulage costs of $3.47/t, refining and transportation costs of $3.29/oz of Au recovered, and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. The average metallurgical recovery is 90% and a royalty rate of 3.0% are assumed.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. No underground Mineral Resources are estimated.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Numbers may not add due to rounding. |

---

*<u>Kailey</u>*

The Kailey deposit (former Little Long Lac Mine) comprises three broad mineralized zones (Kailey, Main, No. 9). Ordinary Kriging was used for gold estimation within the principal domains. No Measured resources are reported due to drill spacing. Pit shells were re optimized at US$2,300/oz Au. No underground Mineral Resources are declared.

#### Table 1-4: Kailey Mineral Resource Summary

---

| | | | |
|:---|:---|:---|:---|
| **Category** | **Tonnage (kt)** | **Grade (g/t Au)** | **Contained Au (koz)** |
| Indicated | 12038 | 0.60 | 231 |
| **M + I** | **12038** | **0.60** | **231** |
| Inferred | 7758 | 0.55 | 138 |
| Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource was adjusted to December 31, 2025<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. No Mineral Reserves are published at Kailey.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Mineral Resources are quoted at a minimum recovered gold cut-off grade of 0.18 g/t and is constrained within a pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pit shell are based on a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, incremental ore haulage costs of $1.31/t, refining and transportation costs of $3.29/oz of Au recovered, and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. The average metallurgical recovery is 90% and a royalty rate of 3.0% are assumed.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. No underground Mineral Resources are quoted.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Numbers may not add due to rounding. | Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource was adjusted to December 31, 2025<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. No Mineral Reserves are published at Kailey.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Mineral Resources are quoted at a minimum recovered gold cut-off grade of 0.18 g/t and is constrained within a pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pit shell are based on a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, incremental ore haulage costs of $1.31/t, refining and transportation costs of $3.29/oz of Au recovered, and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. The average metallurgical recovery is 90% and a royalty rate of 3.0% are assumed.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. No underground Mineral Resources are quoted.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Numbers may not add due to rounding. | Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource was adjusted to December 31, 2025<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. No Mineral Reserves are published at Kailey.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Mineral Resources are quoted at a minimum recovered gold cut-off grade of 0.18 g/t and is constrained within a pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pit shell are based on a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, incremental ore haulage costs of $1.31/t, refining and transportation costs of $3.29/oz of Au recovered, and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. The average metallurgical recovery is 90% and a royalty rate of 3.0% are assumed.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. No underground Mineral Resources are quoted.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Numbers may not add due to rounding. | Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource was adjusted to December 31, 2025<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. No Mineral Reserves are published at Kailey.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Mineral Resources are quoted at a minimum recovered gold cut-off grade of 0.18 g/t and is constrained within a pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pit shell are based on a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, incremental ore haulage costs of $1.31/t, refining and transportation costs of $3.29/oz of Au recovered, and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. The average metallurgical recovery is 90% and a royalty rate of 3.0% are assumed.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. No underground Mineral Resources are quoted.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Numbers may not add due to rounding. |

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| 1-17 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

*<u>Brookbank</u>*

Brookbank is a greenfield deposit comprising the Footwall (FW) and Hanging Wall (HW) veins, plus alteration zones. Gold mineralization is structurally controlled within the Brookbank shear zone. Both open pit and underground Mineral Resources are reported, with underground resources constrained using optimized stope shapes. Brookbank represents a high grade satellite opportunity with significant underground potential.

#### Table 1-5: Brookbank Mineral Resource Summary – Effective Date December 31, 2025

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Deposit** | **Mining Method** | **Category** | **Tonnage (kt)** | **Grade (g/t Au)** | **Contained Au (koz)** |
| Brookbank | Open Pit | Indicated | 7190 | 1.88 | 434 |
|  |  | Inferred | 152 | 0.69 | 3 |
| Brookbank | Underground | Indicated | 1856 | 4.67 | 279 |
|  |  | Inferred | 1339 | 2.55 | 110 |
| Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource was adjusted to December 31, 2025<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. There are no Mineral Reserves at Brookbank.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources are reported at a minimum recovered gold cut-off grade of 0.18 g/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Open pit Mineral Resources are constrained within an optimized pit shell using a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12,20/t, incremental ore haulage costs of $13.77/t, refining and transportation costs of 3.29/oz of Au recovered, and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a cut-off grade of 1.31g/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of US$2,300/oz Au, average mining costs of $65.00/t, processing costs of $12.20/t, a cost of $13.77/t for incremental ore haulage and refining and transportation costs of $3.29/oz of Au recovered were used to determine the underground cut-off grade.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. An average metallurgical recovery of 92% for open pit mining, 96% for underground mining, and a royalty rate of 3.0% are assumed.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Numbers may not add due to rounding. | Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource was adjusted to December 31, 2025<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. There are no Mineral Reserves at Brookbank.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources are reported at a minimum recovered gold cut-off grade of 0.18 g/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Open pit Mineral Resources are constrained within an optimized pit shell using a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12,20/t, incremental ore haulage costs of $13.77/t, refining and transportation costs of 3.29/oz of Au recovered, and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a cut-off grade of 1.31g/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of US$2,300/oz Au, average mining costs of $65.00/t, processing costs of $12.20/t, a cost of $13.77/t for incremental ore haulage and refining and transportation costs of $3.29/oz of Au recovered were used to determine the underground cut-off grade.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. An average metallurgical recovery of 92% for open pit mining, 96% for underground mining, and a royalty rate of 3.0% are assumed.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Numbers may not add due to rounding. | Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource was adjusted to December 31, 2025<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. There are no Mineral Reserves at Brookbank.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources are reported at a minimum recovered gold cut-off grade of 0.18 g/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Open pit Mineral Resources are constrained within an optimized pit shell using a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12,20/t, incremental ore haulage costs of $13.77/t, refining and transportation costs of 3.29/oz of Au recovered, and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a cut-off grade of 1.31g/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of US$2,300/oz Au, average mining costs of $65.00/t, processing costs of $12.20/t, a cost of $13.77/t for incremental ore haulage and refining and transportation costs of $3.29/oz of Au recovered were used to determine the underground cut-off grade.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. An average metallurgical recovery of 92% for open pit mining, 96% for underground mining, and a royalty rate of 3.0% are assumed.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Numbers may not add due to rounding. | Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource was adjusted to December 31, 2025<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. There are no Mineral Reserves at Brookbank.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources are reported at a minimum recovered gold cut-off grade of 0.18 g/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Open pit Mineral Resources are constrained within an optimized pit shell using a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12,20/t, incremental ore haulage costs of $13.77/t, refining and transportation costs of 3.29/oz of Au recovered, and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a cut-off grade of 1.31g/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of US$2,300/oz Au, average mining costs of $65.00/t, processing costs of $12.20/t, a cost of $13.77/t for incremental ore haulage and refining and transportation costs of $3.29/oz of Au recovered were used to determine the underground cut-off grade.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. An average metallurgical recovery of 92% for open pit mining, 96% for underground mining, and a royalty rate of 3.0% are assumed.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Numbers may not add due to rounding. | Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource was adjusted to December 31, 2025<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. There are no Mineral Reserves at Brookbank.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources are reported at a minimum recovered gold cut-off grade of 0.18 g/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Open pit Mineral Resources are constrained within an optimized pit shell using a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12,20/t, incremental ore haulage costs of $13.77/t, refining and transportation costs of 3.29/oz of Au recovered, and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a cut-off grade of 1.31g/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of US$2,300/oz Au, average mining costs of $65.00/t, processing costs of $12.20/t, a cost of $13.77/t for incremental ore haulage and refining and transportation costs of $3.29/oz of Au recovered were used to determine the underground cut-off grade.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. An average metallurgical recovery of 92% for open pit mining, 96% for underground mining, and a royalty rate of 3.0% are assumed.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Numbers may not add due to rounding. | Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource was adjusted to December 31, 2025<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. There are no Mineral Reserves at Brookbank.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources are reported at a minimum recovered gold cut-off grade of 0.18 g/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Open pit Mineral Resources are constrained within an optimized pit shell using a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12,20/t, incremental ore haulage costs of $13.77/t, refining and transportation costs of 3.29/oz of Au recovered, and G&A costs of $6.81/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a cut-off grade of 1.31g/t.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of US$2,300/oz Au, average mining costs of $65.00/t, processing costs of $12.20/t, a cost of $13.77/t for incremental ore haulage and refining and transportation costs of $3.29/oz of Au recovered were used to determine the underground cut-off grade.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. An average metallurgical recovery of 92% for open pit mining, 96% for underground mining, and a royalty rate of 3.0% are assumed.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Numbers may not add due to rounding. |

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The QP is not aware of any environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other relevant factors that could materially affect the Key Lake, Kailey and Brookbank Mineral Resource estimates.

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| 1-18 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

The 2025 Mineral Resource estimate demonstrates a robust, well validated Mineral Resource base at the Greenstone Mine supported by production reconciliation and extensive grade control drilling, while the satellite deposits provide optional future feed and expansion potential. The estimates have been prepared in accordance with NI 43-101, and classified using CIM (2014) definitions, and provide a sound foundation for ongoing mine planning and future technical studies.

1.2.3 Mining and Mineral Reserves

The Mineral Reserves estimate for the Greenstone Mine's open pit is summarized in Table 1-6.

#### Table 1-6: Greenstone Mine Open Pit Mineral Reserve Estimate – Effective Date December 31, 2025

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| | | | |
|:---|:---|:---|:---|
| **Category** | **Diluted Ore Tonnage<br> (Mt)** | **Gold Grade<br> (g/t)** | **Contained Gold<br> (koz)** |
| Proven | 6.9 | 0.75 | 164 |
| Probable | 172.5 | 0.93 | 5169 |
| **Total Proven and Probable** | **179.3** | **0.93** | **5334** |
| Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Reserve estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Reserves are estimated based on a mine plan using a minimum recovered gold cut-off grade of 0.20 g/t Au.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Mineral Reserves are estimated using a long-term gold price of $2,100/oz and a USD:CAD exchange rate of 1.33, average processing costs of $12.2/t of ore, G&A of $6.2/t of ore, and mining costs of $2.74/t mined.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Mining dilution is modelled by regularization and applying a 3% factor to the grades.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Reserves include 11 Mt at 0.51 g/t Au of previously stockpiled ore.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Numbers may not add due to rounding. | Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Reserve estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Reserves are estimated based on a mine plan using a minimum recovered gold cut-off grade of 0.20 g/t Au.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Mineral Reserves are estimated using a long-term gold price of $2,100/oz and a USD:CAD exchange rate of 1.33, average processing costs of $12.2/t of ore, G&A of $6.2/t of ore, and mining costs of $2.74/t mined.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Mining dilution is modelled by regularization and applying a 3% factor to the grades.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Reserves include 11 Mt at 0.51 g/t Au of previously stockpiled ore.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Numbers may not add due to rounding. | Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Reserve estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Reserves are estimated based on a mine plan using a minimum recovered gold cut-off grade of 0.20 g/t Au.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Mineral Reserves are estimated using a long-term gold price of $2,100/oz and a USD:CAD exchange rate of 1.33, average processing costs of $12.2/t of ore, G&A of $6.2/t of ore, and mining costs of $2.74/t mined.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Mining dilution is modelled by regularization and applying a 3% factor to the grades.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Reserves include 11 Mt at 0.51 g/t Au of previously stockpiled ore.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Numbers may not add due to rounding. | Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Reserve estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Reserves are estimated based on a mine plan using a minimum recovered gold cut-off grade of 0.20 g/t Au.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Mineral Reserves are estimated using a long-term gold price of $2,100/oz and a USD:CAD exchange rate of 1.33, average processing costs of $12.2/t of ore, G&A of $6.2/t of ore, and mining costs of $2.74/t mined.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Mining dilution is modelled by regularization and applying a 3% factor to the grades.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Reserves include 11 Mt at 0.51 g/t Au of previously stockpiled ore.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Numbers may not add due to rounding. |

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The QP is not aware of any mining, metallurgical, infrastructure, permitting, or other relevant factors that could materially affect the Mineral Reserve estimate. In accordance with NI 43-101, only Measured and Indicated Mineral Resources have been converted to Mineral Reserves. Inferred Mineral Resources contained The Inferred Mineral Resources contained within the mine design are classified as waste.

Mining is being carried out using conventional open pit techniques with 10 m benches. An owner-mining operation is in place, with outsourcing to contractors for certain support activities such as explosives manufacturing and blasting.

Production drilling of the 10 m benches is performed by blasthole drill rigs with both rotary and down-the-hole (DTH) drilling capability. Loading in the open pit is carried out by five 29 m<sup>3</sup> hydraulic face shovels, one 16.5 m<sup>3</sup> hydraulic excavator, and one 27.5 m<sup>3</sup> front-end wheel loader. Haulage is performed with a combination of Caterpillar 793-08 and Caterpillar 793F mine haul trucks. The presence of historical underground stopes was considered when designing the pit, with the ramp kept away from the old voids, and additional berms placed where necessary to enhance safety.

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| 1-19 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Mining of the main pit will occur in five main phases. Waste rock will be disposed of in four ex-pit waste dumps and one in-pit waste dump. The open pit generates 739 Mt of waste material (inclusive of historical tailings and underground backfill) over the LOM for an average LOM strip ratio of 4.4:1.

The LOM plan provides 14 years of mine production, as shown in Figure 1-1. Annual mine material movement was capped at 77 Mt from 2026 until 2035. Material movement will gradually decline from 2035 until the end of the mine life in 2039. The maximum processing plant production targets 27,000 t/d (9.86 Mt/a), which will be achieved in 2027 and sustained until 2043.

#### Figure 1-1: LOM Annual Tonnes Mined
1.2.4 Mineral Processing and Metallurgical Testing

Significant metallurgical test work has been completed on ore samples from various parts of the ore deposit, and the test results were used to develop the process design criteria and flowsheet on the current process plant. Test work concluded that the ore is composed mainly of quartz and plagioclase with minor amounts of pyrite and arsenopyrite; gold occurs mainly as native gold; the ore is in the category of medium hardness to moderately hard; a portion of the gold can be recovered by gravity concentration; and is amenable to conventional cyanidation.

During 2014–2015, metallurgical test work programs were completed to support the feasibility study and subsequent design of the existing operating process plant. More recently, a metallurgical test work program was completed in 2019 and focused on whole ore cyanidation and gravity tails cyanidation testing to confirm the current flowsheet. Metallurgical test work was primarily completed at SGS Lakefield in Ontario, Canada.

No new significant metallurgical test work program has been completed since the process plant was commissioned in 2024; however, Plant Operations have completed mineralogy and gold deportment tests as part of plant optimization.

A multivariant regression model has been used to predict leach residue grade that is then used to predict plant gold recovery, which averages 86.4% over the Life of Mine. Historically, the model was based on gold, arsenic and sulphur head grades, primary grind size from metallurgical test work. The current leach residue grade algorithm is based on 2025 plant performance.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

The process plant currently treats ore via a conventional gravity-cyanidation flowsheet and has a nameplate capacity of 27 kt/d. Run-of-mine (ROM) ore is processed via primary and secondary crushing and HPGR-Ball mill comminution circuits followed by a gravity circuit. Gravity tailings are treated via a leach-carbon-in-pulp (CIP) circuit and associated gold recovery and carbon handling circuits to produce gold doré. CIP tailings are treated via a cyanide destruction process prior to storage in the tailings management facility (TMF).

Process plant performance over the last two years is summarized in Table 1-7. Ore tonnage for 2024 represents plant ramp up to achieve commercial production. During 2025, the plant continued to ramp up to name plate and achieved a peak production of 24kt/d.

#### Table 1-7: Process Plant Performance Summary (2024-2025)

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| | | | |
|:---|:---|:---|:---|
| **KPI** | **Unit** | **2024** | **2025** |
| Ore Milled | kt | 3687 | 7777 |
| Annual Average Feed Grade | g/t Au | 1.22 | 1.08 |
| Gold Recovery | % | 82.1 | 84 |
| Gold Produced | koz | 112 | 224 |

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A simplified process flowsheet of the process plant is provided in Figure 1-2. In summary, the plant consists of the following unit operations:

&nbsp;&nbsp;&nbsp;&nbsp;· Primary and secondary crushing and associated material handling equipment

&nbsp;&nbsp;&nbsp;&nbsp;· Crushed ore stockpile and associated feed and reclaim systems

&nbsp;&nbsp;&nbsp;&nbsp;· Grinding circuit consisting of a HPGR and twin ball mills, cyclone classification and associated pumping and material handling systems to produce a nominal grind size of P80 of 90µm

&nbsp;&nbsp;&nbsp;&nbsp;· Gravity circuit with intensive leach reactor

&nbsp;&nbsp;&nbsp;&nbsp;· Pre-leach thickening

&nbsp;&nbsp;&nbsp;&nbsp;· Cyanide leaching and carbon adsorption via a leach-CIP circuit respectively.

&nbsp;&nbsp;&nbsp;&nbsp;· Carbon elution via Pressure Zadra circuit

&nbsp;&nbsp;&nbsp;&nbsp;· Carbon handling and regeneration

&nbsp;&nbsp;&nbsp;&nbsp;· Electrowinning and smelting to produce doré

&nbsp;&nbsp;&nbsp;&nbsp;· Cyanide destruction of CIP tailings using SO<sub>2</sub> / O<sub>2</sub> process

&nbsp;&nbsp;&nbsp;&nbsp;· Tailings pumping to the TMF

&nbsp;&nbsp;&nbsp;&nbsp;· Reagent mix and storage circuits

&nbsp;&nbsp;&nbsp;&nbsp;· Air and oxygen circuits

&nbsp;&nbsp;&nbsp;&nbsp;· Water systems (potable water, treated water, gland seal water and process water)

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| 1-21 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 1-2: Overall Flowsheet
Source: Equinox 2025.

1.2.5 Mine Infrastructure and Services

The Mine is within a district that is host to numerous mines and processing facilities and has access to good transportation and regional mining-related infrastructure. The Mine is located along the Trans-Canada Highway 11 and TC Energy's Mainline natural gas pipeline, and nearby the town of Geraldton, which hosts a municipal airport and a 115 kV Hydro One electrical substation.

The general infrastructure to support mining and processing activities includes:

&nbsp;&nbsp;&nbsp;&nbsp;· Site access and haul roads

&nbsp;&nbsp;&nbsp;&nbsp;· Mining equipment maintenance shop

&nbsp;&nbsp;&nbsp;&nbsp;· Warehouse for spare parts and reagents

&nbsp;&nbsp;&nbsp;&nbsp;· Site mixed emulsion (SME) plant

&nbsp;&nbsp;&nbsp;&nbsp;· Sewage treatment plant

&nbsp;&nbsp;&nbsp;&nbsp;· Fuel supply storage and distribution

&nbsp;&nbsp;&nbsp;&nbsp;· Communications network

&nbsp;&nbsp;&nbsp;&nbsp;· Assay laboratory

&nbsp;&nbsp;&nbsp;&nbsp;· Administration building, including a dry facility, gatehouse, and parking area

&nbsp;&nbsp;&nbsp;&nbsp;· Potable water and sewage systems

&nbsp;&nbsp;&nbsp;&nbsp;· Fire water systems

&nbsp;&nbsp;&nbsp;&nbsp;· Site security and fencing.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

A natural gas-fired power plant with a design capacity of 48 MW provides power to the Mine. Natural gas is provided to the power plant via a connection to TC Energy's Mainline pipeline.

A new Ontario Provincial Police (OPP) station is currently being built to replace the existing station that is located within the Mine's property limits. Portions of the historical MacLeod and Hardrock tailings piles, which extend into the limits of the open pit, have been and continue to be relocated to the TMF.

1.2.6 Water Management

All collected mine water, surface runoff water, and underground workings water is directed through various runoff and seepage collection ponds to the centralized mine water Collection Pond M1, which is designed to provide buffer flows for mill make-up water, with excess water sent to the effluent water treatment plant for treatment prior to discharge to the Southwest Arm of Kenogamisis Lake. A seepage collection system was installed to manage seepage from the historical MacLeod tailings. Surface water runoff from the exterior of the TMF dams and any seepage through the dams or foundations is collected in a series of ponds and pumped back into the TMF reservoir for reuse in processing.

1.2.7 Tailings Management Facility

The TMF is a series of constructed dams with a final maximum height of 35 m and crest length of approximately 7,400 m. The TMF is currently designed to receive 143.7 million tonnes (Mt) of mill tailings at an average dry density of 1.34 t/m<sup>3</sup>. A cyanide destruction system is used to process all tailings water before it is sent to the TMF. An allowance has been made within the TMF to store the historical MacLeod tailings and contaminated soils being relocated from the open pit area. The TMF is anticipated to be filled by 2038 and there will be a shortfall of approximately 53.3 Mt of tailings storage capacity based on the updated LOM. To provide additional capacity, several concepts are currently being evaluated.

The TMF dams are and will continue to be constructed primarily using waste rock from mining operations. The dams are constructed in stages and in the downstream direction. Construction of the TMF starter dams was completed in 2023 with the first dam raises completed in 2024 and the second in 2025/26 to a crest elevation of 347 m (346 m for the Southwest Dam only), and the planned ultimate crest elevation will be 365 m. Tailings geochemistry indicates that less than 10% of the ore is considered potentially acid generating (PAG) and this amount will be reduced through oxidization during ore processing, thereby reducing the overall acid rock drainage (ARD) potential for the tailings.

Foundation improvements for the TMF have included the installation of a seepage cut-off wall via a deep soil mixing (DSM) methodology along the Southwest Dam and construction of a shear key beneath the downstream portion of the Southeast Dam. Additional shear key and DSM programs will be performed for the Southwest and West Dams, respectively, in 2026 and 2027, and these programs will complete the foundation improvements required to achieve the ultimate dam height.

Tailings are deposited in the TMF from the dam crests as a conventional slurry to produce a wide exposed beach. This beach displaces the tailings pond away from the dams towards natural ground along the western edge of the facility to enhance long-term dam stability. A barge-mounted pump system, located at the west side of the TMF, reclaims water from the TMF pond and pumps it back to the processing plant.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Closure of the TMF involves constructing a spillway and vegetating the exposed tailings beaches. Runoff from the pond, when deemed suitable for discharge to the environment, will be directed through the spillway.

1.2.8 Environmental Studies

Environmental baseline studies were conducted for the Mine between 2013 and 2021 and were used to identify environmental constraints during the development of layouts and designs for the Mine. This environmental baseline was the basis for determining incremental changes and predicting environmental effects associated with the Mine.

A final environmental impact statement/environmental assessment (EIS/EA) was completed and approved by provincial and federal regulatory agencies. Project interactions were analyzed for 13 valued components (VC) to determine potential environmental effects associated with the Mine for construction, operation, and closure phases. In addition to the VCs, the effects assessment also considered effects of the environment on the Mine, accidents and malfunction scenarios, and cumulative effects. Environmental management and monitoring plans (EMMP) were developed and implemented, including measures related to both compliance and EIS/EA monitoring for all phases of the Mine. The results of the final EIS/EA, including implementing the identified mitigation measures, supports the conclusion that the Mine will not cause significant adverse environmental effects. Since completing the final EIS/EA, GGM has completed slight modifications of Mine components, which form the basis for the final mine plan used for this Technical Report.

Environmental management and monitoring plans (EMMP) were developed and implemented, including measures related to both compliance and EIS/EA monitoring for all phases of the Mine. Annual regulatory reporting associated with the EMMPs is submitted to the appropriate federal and provincial regulators and includes an analysis of monitoring results and a comparison against EMMP specific monitoring triggers to determine if additional action is required.

GGM submitted a Closure Plan and Financial Assurance to the Ministry of Mines, which received approval on March 30, 2021. Since approval of the initial Closure Plan, GGM has filed two amendments, one in December 2023 and another in 2024 to account for detailed design, and mitigation measures to address the erosion of the Goldfield Creek diversion channel. At the end of mining operations, the main features requiring closure will include the open pit, water management and drainage systems, waste rock storage areas, TMF, site access roads and buildings, and associated infrastructure. After the closure works have been completed, a post-closure monitoring program will be carried out to verify that the closure objectives and criteria have been met and confirm that the Mine can proceed to final close out status.

GGM has established Long Term Relationship Agreements (LTRA) with five local Indigenous communities. The agreements provide greater clarity regarding GGM's ability to develop the Mine and the Indigenous communities' opportunities to benefit from future mining in the region, including the potential to extend the Mine's life.

1.2.9 Capital Cost Estimate

The non-sustaining capital cost is shown in Table 1-8 and is estimated to be $80.3 million for the LOM operating period.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 1-8: Non-Sustaining Capital Cost LOM Summary

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| | |
|:---|:---|
| **Capital Cost—Non-Sustaining** | **Total Cost<br> ($ million)** |
| Building and Infrastructure | 36.6 |
| Project Carryover | 40.4 |
| Capitalized Development | 3.4 |
| **Total Cost** | 80.3 |

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Major items included in the non-sustaining capital include the costs for the OPP station relocation, remediation work, and the HPGR rebuild facility.

The sustaining capital cost is shown in Table 1-9 and is estimated to be $1,319.4 million for the LOM operating period.

#### Table 1-9: Sustaining Capital Cost LOM Summary

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| | |
|:---|:---|
| **Capital Cost—Sustaining** | **Total Cost<br> ($ million)** |
| Buildings and Infrastructure | 140.2 |
| Hardware/Software | 1.5 |
| Machinery and Equipment | 48.3 |
| Major Capital Repairs | 378.6 |
| Tailings Management Facility | 461.7 |
| Fleet Purchase | 92.3 |
| Capitalized stripping | 196.8 |
| **Total Cost** | 1319.4 |

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Major items included in the sustaining capital include a new camp accommodation, strategic spares for the processing plant, major capital repairs for the mining fleet, TMF expansions, new mining fleet equipment purchases, and capitalized stripping.

1.2.10 Operating Cost Estimate

Operating costs are summarized in Table 1-10. The operating costs include mining, processing, and G&A. The average operating cost is $1,325/oz Au or $32.2/t milled over the LOM operating period.

#### Table 1-10: Operating Costs Summary

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| | |
|:---|:---|
| **Category** | **Total Costs ($ million)** |
| Mining | 2485 |
| Processing | 2188 |
| G&A | 1107 |
| **Total Operating Costs** | **5781** |
| Note: G&A = general and administrative. | Note: G&A = general and administrative. |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

1.3 Interpretation and Conclusions

1.3.1 Interpretations

&nbsp;&nbsp;&nbsp;&nbsp;· The Mineral Resource and Mineral Reserve estimates for the Greenstone Mine have been prepared using industry standard methods and are considered reasonable within the stated assumptions, parameters, and modifying factors applied in the life of mine plan.

&nbsp;&nbsp;&nbsp;&nbsp;· The selected mining and processing methods reflect conventional practices for large scale open pit gold operations and are supported by historical test work and operating data obtained to date.

&nbsp;&nbsp;&nbsp;&nbsp;· Metallurgical recovery is interpreted to be influenced by gold, arsenic, and sulphur content of the ore, and recovery assumptions are based on regression analysis derived from metallurgical test work and operating performance. Actual recoveries may vary as mining progresses.

&nbsp;&nbsp;&nbsp;&nbsp;· Tailings management, pit wall stability, and foundation conditions represent ongoing technical considerations due to the presence of GL Silt in certain foundation areas, requiring continued monitoring and engineered controls to maintain design criteria.

&nbsp;&nbsp;&nbsp;&nbsp;· Environmental effects mitigation measures identified in the approved EIS/EA, together with monitoring and adaptive management programs, are interpreted to be sufficient to support continued operations within the scope of current permits.

&nbsp;&nbsp;&nbsp;&nbsp;· Identified risks related to permitting, water management, tailings performance, and geotechnical stability are considered manageable based on current designs, monitoring programs, and governance structures; however, these risks remain subject to operational and regulatory uncertainty.

&nbsp;&nbsp;&nbsp;&nbsp;· Opportunities identified for potential improvements in throughput, operating efficiency, and resource expansion are conceptual in nature and would require further technical and economic evaluation before being incorporated into Mineral Reserves or production forecasts.

1.3.2 Conclusions

&nbsp;&nbsp;&nbsp;&nbsp;· The Greenstone Mine Proven and Probable Mineral Reserves are estimated at 179.3 Mt at an average grade of 0.93 g/t Au, containing approximately 5.33 Moz of gold, and support a 14 year mine life, exclusive of stockpile reclaim.

&nbsp;&nbsp;&nbsp;&nbsp;· The life of mine plan is based on a gold price of US$2,100/oz and an exchange rate of 1.33 CAD/USD, which materially influence the reported Mineral Reserves and economic outcomes.

&nbsp;&nbsp;&nbsp;&nbsp;· The processing facility is designed to treat 27,000 t/d, has achieved commercial production, and is permitted for higher throughput, subject to operational performance and future evaluations.

&nbsp;&nbsp;&nbsp;&nbsp;· Average life of mine gold recovery is estimated at 86.4%, based on operating data and metallurgical models, recognizing that recoveries may vary with ore characteristics and operating conditions.

&nbsp;&nbsp;&nbsp;&nbsp;· Supporting infrastructure, including power generation, water management systems, and the TMF, has been designed in accordance with applicable Canadian guidelines and is considered adequate for the current mine plan, subject to ongoing inspections and future expansions.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;· All major federal and provincial environmental approvals required for construction and early operations have been obtained, and permit conditions have been incorporated into mine planning and operational practices. A life of mine permitting plan has been developed to address future permitting requirements and timelines associated with the mine plan.

&nbsp;&nbsp;&nbsp;&nbsp;· Life of mine capital and operating cost estimates have been developed to a level appropriate for a technical report and support the stated Mineral Reserves; however, actual costs may differ due to market conditions, operational performance, and regulatory requirements.

&nbsp;&nbsp;&nbsp;&nbsp;· Based on the information available at the effective date of the report, the Greenstone Mine is considered technically viable, with opportunities for potential optimization, including higher plant throughput rate and inclusion of an underground mine, and resource growth that are not included in the current Mineral Reserve estimate.

1.4 Recommendations

1.4.1 Exploration Recommendations

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|:---|:---|
| 1 | Undertake further Mineral Resource definition drilling at Kailey, targeting the No. 9 Zone near the surface to convert existing Inferred to Indicated Mineral Resources and to discover new gold-bearing zones in the existing pit shell ($0.8 million). |

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| 2 | Undertake metallurgical testwork for the Kailey deposit to confirm metallurgical recoveries assumed in the Mineral Resource estimate ($0.25 million). |

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|:---|:---|
| 3 | Resample the historical drill core at Key Lake to increase the overall sample coverage and overcome the effects of previous under-sampling ($0.2 million). |

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1.4.2 Geotechnical Recommendations for Mining and Infrastructure

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|:---|:---|
| 1 | Conduct additional pit-slope geotechnical work, such as detailed review of variation in structural-fabric orientation to identify possible localized sub-domains with stronger controls on achievable bench-face angles and conduct sensitivity analyses on slope saturation and lower effective shear strength. Conduct additional laboratory testing (i.e. triaxial testing) and intact shear strength of foliation. The budget is estimated at $0.4 million. |

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| 2 | For construction of the TMF Stage 3 dam raise, perform ground improvement measures to obtain the target downstream Factors of Safety for the presumed post-liquefaction condition. The ground improvement measures will include construction of a shear key for the Southwest Dam and deep soil mixing (DSM) for the West Dam. The proposed budget for each of these construction works is estimated to be $50 million and $20 million, respectively. |

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| 3 | As part of the design for the current and future expansion of WRSA D (Phases 1 and 2) and for the future WRSA F, perform geotechnical foundation investigation programs, including drilling and test pitting, to determine the extent of the GL Silt deposit within the footprints and engineering designs will be performed to assess the need for foundation improvements, such as shear keys. The proposed budget for these investigation programs is estimated to be $4 million. The cost of construction of the recommended foundation improvements, as required, will be determined once engineering is completed. |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

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| 4 | To address the shortfall of tailings storage capacity in the current design of the TMF for the LOM, evaluate concepts such as expansion of the current TMF via additional dam raises, construction of a new TMF, and/or a cyclone tailings stockpile. A multiple accounts analysis should be conducted to determine which concept is most appropriate. The proposed budget for this analysis is estimated to be $0.5 million. Once a concept is selected, a geotechnical foundation investigation program should be planned and conducted to determine the suitability of the proposed alternative. The proposed budget for this program, along with engineering and geotechnical laboratory testing, may range between $3 million to $5 million. The cost of construction of the preferred concept will be determined once engineering is completed. |

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1.4.3 Mineral Processing and Metallurgical Testing Recommendations

1 For continued plant optimization, complete a metallurgical test work program to further understand the metallurgical response of various ore types and head grades via the existing plant flowsheet, such as:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Sample characterization: Head analyses including duplicate gold by fire assay, arsenic by XRF and total sulphur and carbon by Leco analysis

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Mineralogy: Mineralogical characterization via microscopic and submicroscopic gold deportment studies

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Cyanidation test work: Standard bottle roll tests to assess the effect of grind size, pulp density, pre- aeration (dissolved oxygen range), pH range and cyanide dosage

The proposed budget for the metallurgical test work program is $180k.

1.4.4 Mining Engineering Recommendations

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|:---|:---|
| 1 | Evaluate the potential for starting an underground mine to increase ounces production or lengthen the mine life ($300k). |

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1.4.5 Environmental Recommendations

There are a number of recommendations related to ensuring that closure cost estimates can accurately reflect the costs at the end of the mine life.

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|:---|:---|
| 1 | The Mine Closure Plan indicates that there is a potential deficit in overburden and topsoil media required for the purpose of closing the Mine. It is recommended that the Mine incorporate better soil salvage practices into the Mine Plan in order to reduce the soil deficit as these materials would be required to be imported to the site based on the current closure prescriptions. This cost cannot be estimated as the stripping volumes and stockpile locations for each source are not available. |

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| 2 | It is recommended that the Mine implement reclamation research programs to allow for optimization of the Mine Closure Plan which is considered to be conceptual at this time. The conceptual level of the Closure Plan is typical for mines at the beginning of their operational phase and is not seen as a risk to operations provided research on closure designs are advanced. The estimated cost of these programs over the life of mine is estimated to $250k. |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

1.4.6 Mineral Resources Recommendations

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|:---|:---|
| 1 | Sample previously unsampled sections of available historical core to improve lithologic and mineralization continuity understanding and improve local grade estimations. The estimated cost of the resampling is $0.3 million. |

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|:---|:---|
| 2 | Drill spacing increases at depth, reducing the confidence of the local accuracy of the model. Decrease the drill spacing at depth prior to reaching those depths with the pit development. Additional drilling would cost approximately $8 million. |

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|:---|:---|
| 3 | Assays of the elements As, S, Fe, and C are sparce throughout the deposit. Assay these elements more thoroughly throughout the deposit and include them in all Au assay analyses in the future to better understand their distribution and reduce risks with mill recoveries and/or PAG/NAG classifications. Additional assaying would cost approximately $5 million. |

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|:---|:---|
| 4 | One of the major 2 fold hinges of the north zone iron formation has had significant historical mining. The continuity of the mineralization in the area around and below the hinge shows signs of following both 2 folds and d3 axial planar features. Develop a drilling campaign to target below the significant historical voids and focus on determining the full nature and continuity of the mineralization of the area. This program would cost approximately $3 million. |

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A summary of the costs associated with each recommendation is presented in Table 1-11.

#### Table 1-11: Combined Cost Estimate of Recommendations

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| | |
|:---|:---|
| **Activity** | **Cost<br> ($ million)** |
| Expansion Drilling at Kailey | 0.80 |
| Metallurgical Testwork at Kailey | 0.25 |
| Resampling of Drill Core at Key Lake | 0.20 |
| Slope Analysis | 0.40 |
| Shear Keys | 70.00 |
| Waste Dumps Foundation Investigation | 0.40 |
| TMF Additional Storage Capacity Investigation | 3.00 to 5.00 |
| Metallurgical Test Work Program | 0.20 |
| UG Mine Potential | 0.30 |
| Mine Closure Cost Optimization | 0.25 |
| Resampling of Historical Core | 0.30 |
| Additional Drilling at Depth | 8.00 |
| Assays | 5.00 |
| North Zone Drilling | 3.00 |
| Total | 92.10 to 94.10 |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

2.0 Introduction

SLR Consulting (Canada) Ltd. (SLR) was retained by Equinox Gold Corp. (Equinox) to compile a Technical Report on the Greenstone Property (the Property), located in Ontario, Canada. The Property comprises the operating Greenstone Mine (the Mine) and Mineral Resources at the Key Lake, Kailey and Brookbank deposits. This Technical Report was prepared in accordance with NI 43-101 *Standards of Disclosure for Mineral Projects* (NI 43-101) by qualified persons (QPs) from Equinox and Lincoln Metallurgical Inc. (Lincoln).

Equinox (TSX: EQX; NYSE American: EQX) is a Canadian-based gold mining company with a diversified portfolio of long-life operations and growth projects across the Americas. This Technical Report supersedes the previous technical report titled "Technical Report on the Greenstone Gold Mine, Geraldton, Ontario, Canada" with an effective date of June 30, 2024, and a published date of October 1, 2024 (Dorval et al. 2024).

The Mine is a conventional open pit mine with processing by carbon-in-pulp (CIP). The Mine achieved commercial production on November 6, 2024, and is expected to produce approximately 4.6 million ounces (Moz) of gold per annum over its 19 year life.

2.1 Terms of Reference and Purpose

The purpose of this Technical Report is to support public disclosure of Mineral Resources and Mineral Reserves estimates as at December 31, 2025. This Technical Report includes updates to the Mineral Resources and Mineral Reserves sections based on operational experience gained since the opening of the Mine on August 29, 2024.

Unless otherwise stated, all the information and data contained in the Technical Report or used in its preparation have been provided by Equinox, and all currencies are expressed in US dollars ($).

Unless otherwise noted, the Technical Report uses the International System of Units (metric system). Lists of the main symbols, units of measure, abbreviations, acronyms, and initialisms used in this Technical Report are presented in Section 2.4.

2.2 Qualified Persons

Table 2-1 presents a detailed summary of the qualified persons (QP) responsible for each section of this Technical Report.

#### Table 2-1: Summary of Qualified Persons

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|:---|:---|:---|
| **QP** | **Company** | **Sections** |
| Alex Thompson, P.Geo | Equinox | 4 to 11, 23, 26.2 |
| Niel de Bruin, P.Geo. | Equinox | 12.1, 14, 26.1, 26.7 |
| Kelly Boychuk, P.Eng | Equinox | 12.5, 18, 26.3 |
| Philippe Lebleu, P.Eng. | Equinox | 1 to 3, 12.2, 15, 16, 19, 21, 22, 24, 25, 26.5, 27 |
| Scott Davidson, P.Geo | Equinox | 12.4, 20, 26.6 |
| Neil Lincoln, P.Eng. | Lincoln Metallurgical Inc. | 12.3, 13, 17, 26.4 |

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The QPs visited the Mine site on the following dates:

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;· Alex Thompson, November 18 to 20, 2025, to inspect logging facilities, core and sample storage, and open pit

&nbsp;&nbsp;&nbsp;&nbsp;· Niel de Bruin, September 10 to 14, 2025, to inspect the core shack and open pit

&nbsp;&nbsp;&nbsp;&nbsp;· Kelly Boychuk, October 22 and 23, 2025, to inspect the waste rock storage areas and tailings dam

&nbsp;&nbsp;&nbsp;&nbsp;· Philippe Lebleu, November 16 to 20, 2025, to inspect the open pit, waste rock dumping areas and tailings dam

&nbsp;&nbsp;&nbsp;&nbsp;· Scott Davidson, November 13 to 21, 2025, to inspect the waste rock dumping areas and tailings area

&nbsp;&nbsp;&nbsp;&nbsp;· Neil Lincoln, November 17 to 19, 2025, to inspect the processing plant

2.3 Sources of Information

The scientific and technical information in this Technical Report is based, in part, on information contained in the previously filed NI 43-101 technical report titled "Technical Report on the Greenstone Gold Mine, Geraldton, Ontario, Canada" with an effective date of June 30, 2024, and a published date of October 1, 2024 (Dorval et al. 2024). The qualified persons responsible for this Technical Report have reviewed the relevant portions of that report, confirm that such information remains current and applicable to the Property, and have incorporated and, where necessary, updated or modified that information for the purposes of this Technical Report. The qualified persons accept responsibility for the information carried forward from the previous technical report as summarized or quoted herein.

The reports and documents listed in Section 27 of this Report were used to support the preparation of the Report.

Additional information was sought from Equinox personnel where required.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

2.4 List of Abbreviations

2.4.1 Units of Measure

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| | | | |
|:---|:---|:---|:---|
| m | micron | kWh | kilowatt-hour |
| mg | microgram | L | litre |
| a | annum | lb | pound |
| A | ampere | L/s | litres per second |
| °C | degree Celsius | m | metre |
| C$ | Canadian dollars | M | mega (million); molar |
| cm | centimetre | m<sup>2</sup> | square metre |
| cm<sup>2</sup> | square centimetre | m<sup>3</sup> | cubic metre |
| d | day | masl | metres above sea level |
| dia | diameter | m<sup>3</sup>/h | cubic metres per hour |
| dmt | dry metric tonne | mi | mile |
| dwt | dead-weight ton | min | minute |
| °F | degree Fahrenheit | mm | micrometre |
| ft | feet | mm | millimetre |
| g | gram | mph | miles per hour |
| G | giga (billion) | MVA | megavolt-amperes |
| g/L | gram per litre | MW | megawatt |
| g/t | gram per tonne | MWh | megawatt-hour |
| gr/ft<sup>3</sup> | grain per cubic foot | oz | Troy ounce (31.1035 g) |
| gr/m<sup>3</sup> | grain per cubic metre | ppb | part per billion |
| ha | hectare | ppm | part per million |
| hp | horsepower | RL | relative elevation |
| hr | hour | s | second |
| Hz | hertz | st or ton | short ton (2,000 lb) |
| in<sup>2</sup> | square inch | t | metric tonne |
| J | joule | t/a | metric tonne per year |
| k | kilo (thousand) | t/d | metric tonne per day |
| kg | kilogram | US$ | United States dollar |
| km | kilometre | V | volt |
| km<sup>2</sup> | square kilometre | W | watt |
| km/h | kilometre per hour | wmt | wet metric tonne |
| kPa | kilopascal | wt% | weight percent |
| kVA | kilovolt-amperes | yd<sup>3</sup> | cubic yard |
| kW | kilowatt | yr | year |

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2.4.2 Abbreviations

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| | |
|:---|:---|
| **Abbreviation** | **Definition** |
| AA | atomic absorption |
| APV | Aquatic Protection Values |
| BIF | banded iron formations |
| BMMP | Biodiversity Management and Monitoring Plan |
| BTDZ | Bankfield–Tombill Deformation Zone |
| C<sub>g</sub> | graphitic carbon |
| CIL | carbon-in-leach |
| CIP | Carbon-in-pulp |
| CNT | total cyanide |
| CNWAD | weak acid-dissociable cyanide |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

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| | |
|:---|:---|
| **Abbreviation** | **Definition** |
| CO | carbon monoxide |
| CO<sub>2</sub> | carbon dioxide |
| CO<sub>3</sub> | carbonates |
| COPC | constituents of potential concern |
| CPT | cone penetration test |
| CQA | construction quality assurance |
| CRM | certified reference material |
| C<sub>T</sub> | total carbon |
| CWQG | Canadian Water Quality Guidelines |
| DDH | diamond drill hole |
| DFO | Department of Fisheries and Oceans Canada |
| DSM | Deep Soil Mixing |
| DSO | Deswik Stope Optimizer |
| DWT | drop-weight test |
| EAS | Environmental Sub-Committee |
| ECA | Environmental Compliance Authorization |
| EDF | Environmental Design Flood |
| EGL | effective grinding length |
| EIS/EA | Environmental Impact Statement and provincial environmental assessment |
| EM | electromagnetic |
| EMMP | Environmental Monitoring and Management Plan |
| EoR | Engineer of Record |
| ETP | Effluent Treatment Plant |
| FA-AA | fire assay with atomic absorption |
| GFC | Goldfield Creek |
| HCl | hydrochloric acid |
| HClO<sub>4</sub> | perchloric acid |
| HF | hydrofluoric |
| HNO<sub>3</sub> | nitric acid |
| HTMRP | Historical Tailings Management and Relocation Plan |
| IAAC | Impact Assessment Agency of Canada |
| IC | Implementation Committee |
| ICP | inductively coupled plasma |
| ICP-OES | inductively coupled plasma – optical emission spectroscopy |
| ID<sup>2</sup> | inverse distance squared |
| IDF | Inflow Design Flood |
| ILR | Intensive leach reactor |
| IP | induced polarization |
| ITRB | Independent Tailings Review Board |
| KNB | kriging neighbourhood analysis |
| KPI | key performance indicator |
| LEL | Lowest Effect Level |
| LOM | life of mine |
| LRIA | *Lakes and Rivers Improvement Act* |

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| 2-4 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

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| | |
|:---|:---|
| **Abbreviation** | **Definition** |
| LTRA | Long Term Relationship Agreements |
| MECP | Ministry of the Environment, Conservation, and Parks |
| MHT | MacLeod High Tailings |
| MLAS | Mining Lands Administration System |
| MMMP | Multi-Media Monitoring Plan |
| MMPMP | Mercury Monitoring Program and Management Plan |
| MNRG | Ministry of Natural Resources and Forestry |
| MRE | Mineral Resource estimate |
| NDIR | non-dispersive infrared |
| NN | nearest neighbour |
| non-PAG | non-Potentially Acid-Generating |
| NSR | net smelter return |
| ODWQS | Ontario Drinking Water Quality Standards |
| OK | ordinary kriging |
| OMS | Operation, Maintenance and Surveillance |
| PAG | Potentially Acid-Generating |
| PCB | polychlorinated biphenyl |
| PDA | Project Development Area |
| PMF | Probable Maximum Flood |
| PTP-MAL | Proficiency Testing Program for Mineral Analysis Laboratories |
| PTTW | Permit to Take Water |
| PWQO | Provincial Water Quality Objectives |
| QA/QC | quality assurance / quality control |
| QEMSCAN | quantitative evaluation of materials by scanning electron microscopy |
| QP | qualified person |
| RC | reverse circulation |
| RCGC | reverse circulation grade control |
| RCO | reverse-circulation overburden |
| RF | radio frequency |
| ROM | run-of-mine |
| RPD | Relative Percent Difference |
| RQD | rock quality designation |
| RTFE | Responsible Tailings Facility Engineer |
| S= | sulphide sulphur |
| S° | elemental sulphur |
| SAR | species at risk |
| SEL | Severe Effect Level |
| SEM-EDS | scanning electron microscopy – energy-dispersive X-ray spectroscopy |
| SIMS | secondary ion mass spectroscopy |
| SMC | SMC Testing Pty Ltd. |
| SMFA | screen metallic fire assay |
| SMU | selective mining unit |
| SO<sub>2 </sub> | sulphur dioxide |
| SO<sub>3 </sub> | sulphur trioxide |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

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| | |
|:---|:---|
| **Abbreviation** | **Definition** |
| SO<sub>4 </sub> | sulphate |
| SOCC | species of conservation concern |
| SP | superpanning |
| S<sub>T</sub> | total sulphur |
| SWH | significant wildlife habitat |
| SWP | Southwest ponds |
| TMF | tailings management facility |
| TOC | total organic carbon |
| TSP | total suspended particulates |
| TSS | total suspended solids |
| VG | visible gold |
| VLF EM | Very low frequency electromagnetic |
| WRMP | Waste Rock Management Plan |
| WRSA | waste rock storage area |

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| 2-6 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

3.0 Reliance on Other Experts

The Qualified Persons have relied on information provided by Equinox's internal legal team in November 2025, regarding the following information disclosed in Section 4 of this Technical Report: mineral tenures, title and interest in the property, royalties, and other encumbrances relevant to the property.

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| 3-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

4.0 Property Description and Location

This section has been modified and updated from Dorval et al. (2024), with additional information added to be current to the Effective Date of this Technical Report.

The Mine is located on the Greenstone Gold Property (the Greenstone Property), which comprises three blocks of mining claims, leases, and patents known as the Hardrock, Brookbank, and Viper properties. The Mine is in the southeast portion of the Hardrock property.

4.1 Location and Access

The Greenstone Property is approximately 275 km northeast of Thunder Bay, Ontario, and approximately 4 km south of the Town of Geraldton, Ontario (Figure 4-1), in Ontario's Thunder Bay Mining Division; locations of all Hardrock and Viper claims fall within National Topographic System (NTS) Sheets 42 E/10 and 42 E/11, while Brookbank fall within NTS Sheet 42 E/12. The approximate coordinates of the Mine's geographic centre are 49°40'47"N and 86°56'32"W (UTM Zone 16N coordinates: 504175.9E and 5503024N; NAD 83), and the approximate coordinates of the Brookbank resource are 49°42'58"N and 87°49'59"W (UTM Zone 16N coordinates: 439904E and 5507400N; NAD 83).

Thunder Bay has a population of approximately 110,000, and provides support services, equipment, and skilled labour for mineral exploration and the mining industry. Rail, national highway, port, and international airport services are also available in Thunder Bay. Geraldton has a population of approximately 1,800 (Statistics Canada 2023), excluding the mine camp, and provides support services such as food and lodging.

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| 4-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 4-1: Location of the Greenstone Gold Mine
Source: Equinox 2026.

4.2 Property Description

The Greenstone Property consists of a 100 km long package of cell claims, patents, leases, and licenses of occupation totalling 39,843 ha, as summarized in Table 4-1. The total Greenstone Property includes three non-contiguous mining blocks: Hardrock (also referred to as the Kenogamisis Property), Brookbank, and Viper properties. The Mine is located on the Hardrock property. Land tenure is illustrated in Figure 4-2.

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| 4-2 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 4-2: Land Tenure Map

#### Table 4-1: Summary of Types of Land Tenure in Greenstone Land Package, as of December 31, 2025

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Property** | **No. of <br> Cell Claims** | **No. of <br> Patents** | **No. of <br> Leases** | **No. of <br> MLOs** | **Area <br> (ha)** |
| Hardrock (or Kenogamisis) | 478 | 191 | 24 | 78 | 16108 |
| Brookbank | 938 | 0 | 19 | 0 | 18464 |
| Brookbank-Kenogamisis Bridge | 48 | 0 | 0 | 0 | 1003 |
| Viper | 216 | 0 | 0 | 0 | 4268 |
| **Total** | **1684** | **191** | **43** | **78** | 39843 |
| Notes:<br> MLO Mining License of Occupation | Notes:<br> MLO Mining License of Occupation | Notes:<br> MLO Mining License of Occupation | Notes:<br> MLO Mining License of Occupation | Notes:<br> MLO Mining License of Occupation | Notes:<br> MLO Mining License of Occupation |

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A detailed listing of all the claims pertaining to Greenstone as of the effective date of this Report has been compiled in Appendix A, and the QP confirms that the claims are all in good standing with rent paid up to December 31, 2025.

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| 4-3 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Mineral exploration and mining lands ownership in Ontario is regulated under the Ontario *Mining Act* and associated regulations. The Provincial Mining Recording Office, a division of the Ministry of Energy and Mines, is responsible for the administration of the *Mining Act* and land tenure. Mining recording functions are conducted through the Mining Lands Administration System (MLAS), which is an online platform. This platform allows users to register new mining claims, transfer ownership, submit permit applications, manage assessment work and distribute reserve work credits.

Having registered mining lands allows the holder the exclusive right to explore for minerals over that area. Registered mining lands include mining claims, mining leases, mining license of occupation and mining patents. The acquisition of new mining claims in Ontario is completed by online map staking on the MLAS platform. Each mining claim requires a payment of C$50 at the time of staking. The holder has two years from the acquisition date to complete eligible exploration work and submit an assessment report. Each mining claim cell requires an annual expenditure of $400 in eligible exploration expenses to be maintained in good standing. Exploration expenses that exceed the annual expenditure requirements are banked as reserve credits for future use. These credits can be distributed to contiguous claims held by the same owner.

There is an established process within the Ministry of Energy and Mines to convert mining claims to mining leases. Annual work requirements are no longer needed on leases, but annual rent payments to the Crown are required. In conjunction with other regulations and permits, the lease holder has the right to extract and sell minerals from the leased area.

4.2.1 Hardrock Property

The Hardrock property consists of 478 cell claims, 191 patents, 24 leases and 78 mining licenses of occupation (MLO) totalling 16,108 ha, of which 15,929 ha are wholly owned by the Company and 179 ha of patented claims are jointly owned by Equinox (37.5%), CS Resourced Limited (37.5%), and Alcoa Limited (25%).

Several past-producing underground gold mines are located on the Hardrock property, including Hardrock, MacLeod–Cockshutt, Mosher (all later combined as the Consolidated Mosher), Little Long Lac ("Kailey"), Bankfield, Jellicoe ("Key Lake"), and Magnet (Figure 4-3). There are also some less-significant historical occurrences of gold mineralization within the property boundary. The mineralized zone that hosts the most recently delineated Mineral Resources (the Mine Area) is within or adjacent to the former Hardrock and MacLeod–Cockshutt mines.

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| 4-4 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 4-3: Hardrock Property Land Tenure and Past Producing Mines
4.2.1.1 Hardrock Royalties and Other Agreements

The Hardrock land package is an amalgamation of multiple historical mining properties with several underlying agreements and royalties. Gignac et al. (2016) provides a detailed history of the various agreements and acquisitions. A summary of royalties currently in effect is listed below and shown in Figure 4-4:

&nbsp;&nbsp;&nbsp;&nbsp;· Essar Steel Algoma Inc. (2% net smelter return [NSR])

&nbsp;&nbsp;&nbsp;&nbsp;· Griffin Mining Limited (1% NSR)

&nbsp;&nbsp;&nbsp;&nbsp;· Franco–Nevada (3% NSR)

&nbsp;&nbsp;&nbsp;&nbsp;· Franco–Nevada (3% NSR)/Essar Steel Algoma Inc. (5% net profits interest [NPI])

&nbsp;&nbsp;&nbsp;&nbsp;· Placer Dome Inc. (Placer Dome) (2.25% NSR)/Key Lake Exploration (2% NSR)

&nbsp;&nbsp;&nbsp;&nbsp;· Unique Broadband Systems (3% NSR)

&nbsp;&nbsp;&nbsp;&nbsp;· Argonaut Gold Inc. (3% NSR).

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| 4-5 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 4-4: Hardrock Property Royalties Map
4.2.1.2 Hardrock Property Partnerships Overview

On March 9, 2015, Centerra Gold Inc. (Centerra) and Premier Gold Mines Limited (Premier) formed a 50:50 partnership, the Greenstone Gold Mines GP Inc. (GGM) for exploring, developing, and operating the Greenstone Property. Centerra made an initial cash contribution to the partnership in the amount of $85 million for its 50% limited partner interest. In accordance with the Partnership Agreement, Centerra committed to solely fund up to $185 million in capital to develop the Hardrock Project, following which all funding for the Partnership would be made pro rata.

In October 2018, a mining lease was granted over CLM 535, which covers the southern part of the Mine area. The lease, LEA-109765, is subject to renewal in 2039.

On December 15, 2020, the Orion Mine Finance Group (Orion) entered into an agreement (the "Purchase Agreement") with Centerra and Premier, pursuant to which Orion would acquire Centerra's 50% interest in the GGM Partnership. On December 16, 2020, Equinox and Premier entered into a definitive agreement (the Agreement) whereby Equinox would acquire all outstanding shares of Premier. Equinox would also retain Premier's interest in the Hardrock Project. The Hardrock Project was subsequently renamed the Greenstone Gold Mine.

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| 4-6 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

As part of the Greenstone Agreement, Equinox assumed obligations under a stream agreement with Nomad Royalty Company Ltd, dated October 28, 2021, as amended (the Stream Agreement). Under the Stream Agreement, Equinox is required to deliver an amount of refined gold equal to 2.375% of the gold produced from Greenstone, until Equinox has delivered a cumulative total of 120,333 ounces, and 1.583% of the gold production from Greenstone thereafter. In exchange for the gold deliveries, Equinox will receive consideration equal to 20% of the spot gold price at the time of delivery.

On May 13, 2024, Equinox announced that it had completed its acquisition of the remaining 40% of GGM from certain funds managed by Orion, giving Equinox Gold 100% ownership of GGM and the Greenstone Mine.

4.2.2 Brookbank Property Area

The Brookbank property area is within 1:50,000 scale NTS Sheet 42E/12 and lies 10 km northeast of Beardmore (Figure 4-2). By road, the property area is approximately 14 km east of Beardmore along the Trans-Canada Highway and 12 km north of the highway by gravel road. Beardmore is approximately 200 km northeast of Thunder Bay via the Trans-Canada Highway.

The Brookbank project includes 19 active mining leases and 938 cell claims covering 18,464 ha, and the Brookbank-Kenogamisis Bridge includes 48 cell claims covering 1,003 ha. (Figure 4-5). The project area hosts the Brookbank deposit, and the Cherbourg and Foxear targets.

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| 4-7 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 4-5: Brookbank and Brookbank-Kenogamisis Bridge Properties' Land Tenure
4.2.2.1 Brookbank Royalties and Other Agreements

Equinox owns 100% of the lease covering the Brookbank deposit, and the remaining portion of the project tenements is subject to two Joint Venture (JV) agreements with Metalore Resources Limited (Metalore). The first JV is a 74% to 26% split between Equinox and Metalore, with the second a 79% to 21% split (Figure 4-6). Metalore also retains a 1% NSR royalty on 18 of the leased claims hosting the main Brookbank deposit.

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| 4-8 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 4-6: Brookbank Property Joint Venture Map & Royalty
4.2.3 Viper Property

The Viper property area is within 1:50,000 scale NTS Sheet 42E/10 and lies 34 km east of the Hardrock property (Figure 4-2) and 10 km south of Longlac, accessible by secondary gravel road off the Trans Canada Highway. Premier staked the 216 contiguous cell claims totalling 4,268 ha between 2013 and 2015 (Figure 4-7). As of the effective date of this Report, Equinox owns 100% of the Viper claim group and no claims are subject to any royalty, net smelter returns, net profit interests, or streaming agreements.

At the effective date of this Report, all claims within the Viper property are subject to a 'Hold – Special Circumstances Apply' status with the Ministry of Mines because of ongoing consultation and engagement with a local First Nation community.

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| 4-9 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 4-7: Viper Property Land Tenure.
4.3 Permits

Permits are required to undertake drilling, overburden stripping, and trenching in areas not covered by the mine closure plan or mining patents. A complete accounting of all mining-related permits in place for the properties is detailed in Section 20.2.2 of this Report.

4.4 Environmental Liabilities

Information related to existing environmental liabilities on the Greenstone Mine property are described in Section 20.6 of this Report.

4.5 Significant Risks

At the Effective Date of this Technical Report, the QP is not aware of any other significant factors and risks that may affect access, title, or the right or ability to perform work on the properties that has not been discussed in this technical report.

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| 4-10 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

5.0 Accessibility, Climate, Local Resources, Infrastructure and Physiography

This section has been modified and updated from Dorval et al. (2024), with additional information added to be current to the effective date of this Technical Report.

5.1 Accessibility

5.1.1 Greenstone Mine

The Mine is in the Municipality of Greenstone in the Province of Ontario, near the Town of Geraldton. The area is accessible year-round via paved roads from Geraldton, or Highway 11, which crosses the Property from east to west (Figure 5-1). The closest major city is Thunder Bay, Ontario, located 275 km southwest via Ontario King's Highway 11 (Trans-Canada Highway). Public roads are maintained by various levels of government. Geraldton also hosts a municipal airport equipped to accommodate small aircraft.

A network of well-established roads covering the main infrastructure of the Mine has been built. The south portion of the Mine is accessed via Highway 11 and the remainder can be easily accessed by four-wheel-drive vehicles via numerous logging and bush roads that branch off the paved highways. Drill roads provide access to the areas GGM is currently exploring.

Those areas of the Mine not serviced by roads can be accessed by all-terrain vehicle (ATV), on foot, or by boat during the summer, and snowmobile in the winter.

5.1.2 Brookbank and Viper Properties

The Brookbank and Viper properties are also within the Municipality of Greenstone. The main part of the Brookbank property can be accessed via the Wendigokan Road, an all-weather gravel road connecting to Highway 11. The eastern part of the Brookbank property is accessible by Highway 801, a paved secondary road that also leads from Highway 11.

The Viper property can be accessed via bush trail off the Catlonite Road, an all-weather gravel road, that is part of a series of bush roads connecting Highway 11 at Longlac to Highway 17 at Terrace Bay.

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| 5-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 5-1: Greenstone Mine Main Access Routes
Source: Equinox 2026.

5.2 Climate

The Mine Area has a continental climate typical of temperate regions in the mid-latitudes influenced by both polar and tropical air masses. In this climate, seasonal temperature variations are represented by short, warm summers and long, cold winters. The Mine is in the Boreal Ecoclimatic Province of Canada.

The nearest permanent weather monitoring station is approximately 14 km north of the Mine at the Greenstone Regional Airport, which services Geraldton and the surrounding area. Weather statistics for the period between 1991 and 2020 record a mean daily temperature of 0.8°C, with maximum and minimum daily mean temperatures of 27.9°C and -39.3°C, respectively. The mean annual precipitation comprises 546.4 mm of rainfall and snowfall of 249.0 cm. On average, precipitation was recorded on 167 days a year. The annual average relative humidity in the morning is about 84.0%. The annual average wind speed for the area is about 11.4 km/h, and the prevailing winds are westerly. In summer, winds blow most frequently from the west and south, while in the fall and winter, the most frequent winds are westerly.

Weather conditions do not seriously hinder exploration and mining activities on the property, but adjustments to the type of work performed are subject to seasonal variation—for example, geological mapping in the summer and drilling on frozen lakes in the winter. Mining can continue year-round.

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| 5-2 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

5.3 Local Resources

The Mine benefits from local human resources and services available in Geraldton and surrounding areas. Geraldton has a population of approximately 1,800 people and is part of the Municipality of Greenstone, which also includes Longlac, Nakina, Beardmore, and an extensive area of unincorporated land. The Municipality's population is 4,300. Throughout all phases of the development of the Mine, GGM has undertaken extensive consultation with local Indigenous communities and Geraldton.

Although there has been no mining activity in the immediate area since 1970 (other than the Greenstone Mine), the area has a workforce to support future mining activities. Geraldton has all the services typical for a town of its size, including a hospital, emergency services, school, sports centre, food, lodging, wireless, and wireline telecommunications. For greater needs for mining projects, the City of Thunder Bay can provide goods and services.

5.4 Infrastructure

The Mine was constructed from 2022 to 2023. The mine infrastructure consists of a 27,000 tonne per day (t/d) crusher and mill, power plant, reagent storage building, effluent treatment plant, tailings management facility, truck shop, warehouse, exploration building, administration and technical services offices, and a 600-person camp.

GGM has an office for public relations in the Geraldton commercial district.

GGM owns and operates a laboratory with sample preparation and analytical capabilities in Geraldton. In times of heavy sample volumes, this facility may cooperate with external third-party facilities in Thunder Bay to ensure timely turnaround.

There are adequate surface rights for the mining-related infrastructure, including waste rock storage areas, tailings management facility, and processing and administration facilities (Figure 5-2). The arrangement of mining-related infrastructure is constrained by the surrounding lakes and watercourses.

5.4.1 Power and Energy

The 48 MW power plant at GGM is fueled by natural gas supplied via a 13-kilometre pipeline connection to a branch of TC Energy's Mainline pipeline. The mine site is also connected to the Hydro One power grid via 12.5 kV distribution lines supported by two Hydro One electrical substations in Geraldton of 3.7 MW and 2.0 MW capacity.

The Brookbank deposit area on the Brookbank property is not connected to the provincial grid and relies on generators to complete field work; however, it is within 12 km of the main 115 kV Hydro One distribution lines parallel to Highway 11.

5.4.2 Water

Geraldton has its own potable water treatment system and water distribution network. The GGM core processing facility is supplied by this system, whereas all other mine facilities are supplied by a freshwater intake from Kenogamisis Lake.

Further details of the site water management infrastructure are provided in Section 18.3 of this Report.

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| 5-3 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

The Brookbank property does not have any water treatment or distribution infrastructure.

5.4.3 Sewage

Geraldton has its own sewage treatment facility. However, the sewage-collecting network does not extend south of Kenogamisis Lake. Sewage from mine site buildings is treated in septic tanks and septic fields.

The Brookbank property does not have any sewage treatment or distribution infrastructure.

#### Figure 5-2: Greenstone Mine Site Layout
5.5 Physiography

Greenstone lies within the Canadian Boreal Shield Ecozone, where the Canadian Shield and the boreal forest overlap. Precambrian bedrock at or near the surface plays an important role in shaping the biophysical landscape. Lakes, ponds, and wetlands abound in this landscape, and drainage patterns are typically dendritic, with sporadic angular drainage influenced by bedrock outcrops.

The Mine area topography is relatively flat to gently rolling, with local relief up to 20 m, largely attributed to glacial deposits that blanket the bedrock. There are no distinct topographic features. Lower-lying areas are characterized by swamps and ponds, with overall very-poor drainage throughout the area. The surrounding land is at approximately 335 masl. The largest lake adjacent to the Mine is Kenogamisis Lake, which bounds the Mine to the south, east, and north. This lake's elevation is approximately 330 masl.

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| 5-4 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Numerous small lakes and ponds are dispersed throughout the Brookbank property and often connected by small streams and swamps. The largest lake near the Brookbank deposit is Windigokan Lake, approximately 1 km to the south.

Vegetation in the area is dominated by coniferous trees; the most common species are black spruce, tamarack, and cedar. There are local stands of birch, jack pine, and poplar in areas with better drainage, such as eskers and moraines.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

6.0 History

6.1 Hardrock Property

This section summarizes the historical work done on the Hardrock property. Information about historical work on the Hardrock, MacLeod–Cockshutt, and Mosher mines is derived from the 2021 and 2024 technical reports (Gignac et al. 2021; Dorval et al. 2024). Additional summaries for the past-producing Magnet and Bankfield mines are copied from Dorval et al. (2024), which relied on other historical sources cited in this Technical Report. The QP has reviewed historical information presented in this section and is of the opinion that it is sufficiently accurate and reasonable to be restated in this Technical Report. Refer to section 4.2.1.2 for a description of the recent ownership history and agreements.

Figure 6-1 illustrates the location of the various past-producing mines on the Hardrock property. Table 6-1 presents the statistics on gold production, diamond drilling, and underground development for all historical mines on the Hardrock property.

#### Figure 6-1: Past-Producing Mines on the Greenstone Gold Mine Claims

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 6-1: Gold Production, Diamond Drilling, and Underground Development Statistics of Past-Producing Mines on Hardrock Property

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|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Past-Producing Mines** | **Operating Period** | **Ore Milled** | **Ore Milled** | **Ore Milled** | **Ore Milled** | **Recovered Metal** | **Recovered Metal** | **Surface DDH <br> (m)** | **UG DDH <br> (m)** | **Drifting <br> (m)** | **Cross-cutting (m)** | **Raising (m)** |
| **Past-Producing Mines** | **Operating Period** | **Metric Measurements** | **Metric Measurements** | **Imperial Measurements** | **Imperial Measurements** | **Gold <br> (oz)** | **Silver <br> (oz)** | **Surface DDH <br> (m)** | **UG DDH <br> (m)** | **Drifting <br> (m)** | **Cross-cutting (m)** | **Raising (m)** |
| **Past-Producing Mines** | **Operating Period** | **Tonnes** | **(g/t Au)** | **Tons** | **(oz/st Au)** | **Gold <br> (oz)** | **Silver <br> (oz)** | **Surface DDH <br> (m)** | **UG DDH <br> (m)** | **Drifting <br> (m)** | **Cross-cutting (m)** | **Raising (m)** |
| Little Long Lac | 1934–1954, 1956 | 1615713 | 11.66 | 1780516 | 0.34 | 605499 | 52750 | 2114 | 23353 | Unknown | Unknown | Unknown |
| Hardrock | 1938–1951 | 1323389 | 6.33 | 1458375 | 0.18 | 269081 | 9009 | 14021 | 67423 | 10572 | 3608 | 10589 |
| MacLeod–Cockshutt | 1938–1968 | 9380425 | 4.98 | 10337229 | 0.14 | 1475728 | 90864 | 16933 | 224168 | 32698 | 8976 | 10589 |
| Consolidated Mosher | 1962–1966 | 2459761 | 4.18 | 2710657 | 0.12 | 330265 | 34604 | 1083 | 59591 | 7292 | 3267 | 2467 |
| MacLeod Mosher | 1967–1970 | 847626 | 4.01 | 934084 | 0.12 | 109324 | 17321 | - | 1043 | 7259 | 3369 | 4300 |
| Bankfield | 1937–1942, 1944–1947 | 209627 | 9.86 | 231009 | 0.29 | 66417 | 7590 | 2865 | 5175 | 5178 | 2629 | 768 |
| Magnet Consolidated | 1938–1943, 1946–1952 | 326599 | 14.49 | 359912 | 0.42 | 152089 | 16879 | 8741 | 13634 | 9378 | 1490 | 893 |
| Tombill | 1938–1942, 1955 | 172978 | 12.43 | 190622 | 0.36 | 69120 | 8595 | 2873 | 1343 | 1147 | 1354 | 344 |
| Jellicoe (Key Lake) | 1939–1940, 1949 | 13359 | 13.22 | 14722 | 0.39 | 5675 | 515 | 8534 | 1358 | 1974 | 204 | 248 |
| Talmora–Long Lac | 1942, 1948 | 6020 | 7.32 | 6634 | 0.21 | 1417 | 66 | 937 | 3285 | 234 | - | 12 |
| Total Past Production—All Mines | Total Past Production—All Mines | 16355497 | 5.92 | 18023760 | 0.17 | 3084565 | 238193 | 58100 | 400372 | 75731 | 24897 | 30211 |
| Note: DDH = diamond drill holes. | Note: DDH = diamond drill holes. | Note: DDH = diamond drill holes. | Note: DDH = diamond drill holes. | Note: DDH = diamond drill holes. | Note: DDH = diamond drill holes. | Note: DDH = diamond drill holes. | Note: DDH = diamond drill holes. | Note: DDH = diamond drill holes. | Note: DDH = diamond drill holes. | Note: DDH = diamond drill holes. | Note: DDH = diamond drill holes. | Note: DDH = diamond drill holes. |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

6.1.1 Mine Area

6.1.1.1 Production History for Hardrock, MacLeod-Cockshutt, and Mosher (1916 to 1970)

The first gold discovery in the area of the Mine was made between 1916 and 1918, when a gold-bearing boulder was discovered south of the Main Narrows of Kenogamisis Lake. In 1931, W.W. "Hardrock" Smith discovered gold-bearing quartz stringers near the Hardrock Number 1 shaft, and Tom Johnson and Robert Wells discovered gold on Magnet Lake, which later hosted the Bankfield Gold mine. T. A. Johnson and T. Oklend soon follow with the discovery of gold in a small quartz vein along the southern shore of Barton Bay on Kenogamisis Lake, which is now the location of the Little Long Lac Property.

In 1934, the period of mine production in the area began with the Little Long Lac mine—the first successfully producing mine. To the west of the 1931 Hardrock discovery, F. MacLeod and A. Cockshutt staked claims and continually explored the area throughout the 1930s and 1940s. By the late 1940s, the F Zone, a low-grade, large-tonnage ore body in greywacke, was identified on both the MacLeod–Cockshutt and Hardrock properties.

Production on the Mosher Long Lac mine began in 1962 (west of, and immediately down-plunge of the same mineralized zones exploited in the MacLeod–Cockshutt mine); then, in 1967, the MacLeod–Cockshutt, Mosher, and Hardrock mines amalgamated and remained in production until 1970. The consolidated Hardrock, MacLeod–Cockshutt, and Mosher mines produced 2,184,398 ounces of gold at an average grade of approximately 0.14 ounces of gold per short ton (~14 Mt at 4.9 g/t Au) in the period from 1934 to 1970.

6.1.1.2 Greenstone Mine Exploration and Development History (Since 1980)

A detailed chronological summary of the historical work carried out since 1980 in the immediate vicinity of the Mine is provided in Table 6-2.

#### Table 6-2: Summary of Post-1980 Exploration Activity on the Greenstone Gold Mine Area of the Hardrock Property

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| **Year** | **Company** | **Activity** | **Comments 1** | **Reference** |
| 1980 | Long Lac Minerals Ltd | Studies of existing underground reserves; lithological reconnaissance |  | Gray (1994) |
| 1982 | Lac Minerals Ltd<br>Mining Corporation of Canada<br>| "Ore reserves" and "ore potential" in the Hardrock and MacLeod/Mosher mines | Historical "reserves" of 1,300,000 tons at 0.140 oz/st Au (Proven and Probable ore) 1 80% of total ore below Level 13 of the 3.6 Mosher winze (No. 3 shaft) of the down-plunge of the F Zone and South Zone mineralization | Jarvi (1982) |
| 1987 | Lac Minerals Ltd | Line cutting; ground magnetometer, VLF-EM, and IP surveys; diamond drilling (37 DDH = 6,218.9 m) | DDH program targeted the open pit potential of the Hardrock D and F Zones, North and South porphyry, and Homestake–Porphyry Hill several IP anomalies were partially tested | Gray (1994); 2012 Premier's Prospectus) |
| 1988 | Lac Minerals Ltd | Diamond drilling (40 DDH = 9,052.6 m) | DDH program targeted the open pit potential of the Hardrock D and F Zones, North and South Porphyry, and Homestake–Porphyry Hill | Gray (1994); 2012 Premier's Prospectus |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

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| **Year** | **Company** | **Activity** | **Comments 1** | **Reference** |
| 1993 | Asarco Exploration of Canada Ltd<br>Lac Minerals Ltd<br>| 106 reverse circulation overburden (RCO) drill holes (1,483.2 m); diamond drilling (28 DDH = 5,125.2 m); geological resource estimate | RCO drilling program was a reconnaissance test for anomalous gold values in glacial till.<br>Diamond drilling program tested IP targets associated with iron formations and the near-surface portion of the F Zone pit resource:<br>| Gray (1994); Mason and White (1993) |
| 1994 | Asarco Exploration of Canada Ltd<br>Lac Minerals Ltd<br>| 17 RCO drill holes (395.6 m); 21 sonic drill holes (304.8 m); diamond drilling (78 DDH = 11,961.9 m) | RCO drilling program was a reconnaissance test for anomalous gold values in glacial till.<br>Sonic drilling program tested the MacLeod–Mosher tailings diamond drilling program consisted of infill drilling within a potential open pit zone (F Zone, North Porphyry Zone, South Porphyry Zone, and No. 2 Vein) and testing of the near-surface portions of the C Zone and North Zone.<br>| Gray (1994) |
| 1995 | Asarco Exploration of Canada Ltd<br>Lac Minerals Ltd<br>| Pre-feasibility study; MRE |  | Reddick et al. (2010); Mason & White (1995) |
| 1995 | Lac Minerals Ltd | Diamond drilling (7 DDH = 1,024.4 m) | Diamond drilling program to test some of the crown pillars of old stopes in the past producing mines | Murahwi et al. (2011, 2012) |
| 1996 | Lac Properties Inc.<br>Cyprus Canada Inc.<br>| Diamond drilling (24 DDH = 3,241 m); metallurgical work on the previous sonic holes; Samples from tailings; environmental assessment work | Diamond drilling program defined the previous open pit area identified by Lac Minerals and Asarco | Reddick et al. (2010) |
| 1997 | Lac Properties Inc.<br>Cyprus Canada Inc.<br>| Diamond drilling (1 DDH = 185 m)<br>Geological resource estimate<br>|  | Reddick et al. (2011) |
| 2000 | Lac Properties Inc. | Diamond drilling (1 DDH = 369.5 m) | Diamond drilling program tested the F Zone crown pillars at the past producing MacLeod–Cockshutt mine | Telesnicki and Steed (2007) |
| 2002 | Lac Properties Inc. | Diamond drilling (16 DDH = 2,116.8 m) | Diamond drilling program tested some crown pillars at the past-producing Hardrock mine | Soni and Steed (2002) |
| 2008 | Premier Gold Mines Limited | Acquisition of the Lac Claims |  |  |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

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| **Year** | **Company** | **Activity** | **Comments 1** | **Reference** |
| 2009 | Premier Gold Mines Limited | Diamond drilling (346 DDH = 91,802 m); overburden stripping with power washing, mapping and sampling | Diamond drilling program focused on the North Iron Formation area, Porphyry Hill area and East Pit Area; two areas were stripped (GP Zone and TAZ Zone) |  |
| 2010 | Premier Gold Mines Limited | Diamond drilling (279 DDH = 114,611 m); overburden stripping with power washing, mapping, and sampling; regional prospecting program | Three areas were stripped (East MacLeod, Headframe, and Portal Zones); diamond drilling focused on the same area as in 2009; main zones drilled were North, F, SP, NN, and K Discovery of the F2 and Z zones; new MRE and a supporting NI 43-101 technical report | Premier Gold: Reddick et al. (2010) |
| 2011 | Premier Gold Mines Limited | Diamond drilling (204 DDH = 107,413 m) | Diamond drilling program resulting in the expansion of the SP, F, P and K zones; discovery of the Tenacity South Zone; updated and a supporting NI 43-101 technical report | Premier Gold: Murahwi et al. (2011) |
| 2012 | Premier Gold Mines Limited | Diamond drilling (125 DDH = 68,549 m) | Diamond drilling program focused on the Fortune, HGN and P Zones; updated MRE and supporting NI 43-101 technical report | Premier Gold: Murahwi et al. (2013) |
| 2012 / 2013 | Premier Gold Mines Limited | Diamond drilling (153 DDH = 72,776.4 m) (from Oct. 31, 2012, to Aug. 9, 2013) (144 DDH = 66,606.7 m) (from Aug. 10, 2013, to Dec. 31, 2013 | Updated MRE and supporting NI 43-101 technical report | Premier Gold: Brousseau et al. (2013) |
| 2014 | Premier Gold Mines Limited | Preliminary economic assessment |  | Premier Gold: St-Laurent et al. (2014) |
| 2014<br>(Jan 1 to May 26)<br>| Premier Gold Mines Limited | Diamond drilling (38 DDH = 12,653.6 m) | Updated MRE and supporting NI 43-101 Technical Report | Brousseau et al. (2014) |
| 2014 (May 27) / 2015 | Premier Gold Mines Limited<br>Centerra Gold Inc.<br>| Diamond drilling (95 DDH = 31,443 m)<br>Formation of a 50/50 Partnership<br>| New NI 43-101 technical report | Premier Gold: Brousseau et al. (2015) |
| 2016 | Greenstone Gold Mines GP Inc. | Feasibility Study | Updated MRE and supporting NI 43-101 technical report | Gignac et al. (2016) |
| 2018 | Greenstone Gold Mines GP Inc. | RCGC Drilling (405 holes = 19,995 m), Blasthole drilling (62 holes = 535 m) | Updated MRE (not published) | Sirois (2018) |
| 2019 | Greenstone Gold Mines GP Inc. | Drilling 76 RCGC holes = 5,946 m, 54 DDH = 12,108 m | Resource update and project design work | Gignac et al. (2021) |
| 2022 | Greenstone Gold Mines GP Inc. | RCGC Drilling 67 holes = 4,189 m, <br> 56 DDH = 15,421 m | Internal Resource update (not published) |  |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

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| **Year** | **Company** | **Activity** | **Comments 1** | **Reference** |
| 2023 | Greenstone Gold Mines GP Inc. | As and S reviewed and creation of updated block models for these two attributes | Internal Block Models Updates (not published) |  |
| Sep 2022 to Jun 2024 | Greenstone Gold Mines GP Inc. | RCGC: drilling 496 holes = 28,002 m |  | GGM |
| 2024 | Greenstone Gold Mines GP Inc. | Update gold prices, optimisation parameters and resource shells | Updated MRE and NI 43-101 Technical Report | Dorval et al. (2024) |
| July 2024 to August 2025 | Equinox Gold Corp. | RCGC: drilling 1,339 holes = 79,878 m | Resource update and project design work (this study) |  |
| May to August 2025 | Equinox Gold Corp | 21 DDH = 6,054 m | Data not used for the 2025 Mineral Resource update. |  |
| Note:<br> VLF-EM: very low frequency electromagnetic<br> IP: induced polarization<br> RCGC: Reverse circulation grade control<br> MRE: Mineral Resource estimate | Note:<br> VLF-EM: very low frequency electromagnetic<br> IP: induced polarization<br> RCGC: Reverse circulation grade control<br> MRE: Mineral Resource estimate | Note:<br> VLF-EM: very low frequency electromagnetic<br> IP: induced polarization<br> RCGC: Reverse circulation grade control<br> MRE: Mineral Resource estimate | Note:<br> VLF-EM: very low frequency electromagnetic<br> IP: induced polarization<br> RCGC: Reverse circulation grade control<br> MRE: Mineral Resource estimate | Note:<br> VLF-EM: very low frequency electromagnetic<br> IP: induced polarization<br> RCGC: Reverse circulation grade control<br> MRE: Mineral Resource estimate |

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6.1.2 Key Lake

The following Key Lake description is taken directly from Dorval et al. (2024), which is taken directly from Gignac et al. (2021). The 2021 report summarized the work and findings presented in Murahwi et al. (2013).

6.1.2.1 Exploration History

Drilling completed by Placer Dome at Key Lake in the 1980s identified extensive zones of gold mineralization, but these were initially considered too low-grade to be economical (McCormack 1984). Placer Dome conducted additional drilling in 1990 before abandoning the project. Subsequently, Cyprus confirmed two shallow mineralized shoots with average grades greater than 1 g/t Au (Gasparetto and Stevenson 1996). Roxmark carried out drilling in 2010 and 2011 and identified wide mineralized intervals, such as 1.6 g/t Au (0.047 oz/st) over a drilled length of 30 m in KL-11-109 (including 11.9 g/t Au over 0.3 m). Higher grade intervals, such as 5.6 g/t Au (0.16 oz/st) over 16.1 m in KL-11-112 (including 31.6 g/t Au over 1.85 m) were also encountered. There has been no drilling below a vertical depth of approximately 250 m.

6.1.2.2 Production History

The Key Lake deposit area includes the past-producing Jellicoe mine. The Jellicoe mine produced 5,620 oz of gold from 1939 to 1941 and an additional 55 oz in 1949 (Mason and White 1986). The ore bodies comprised a series of veins, each with a maximum strike length of about 100 m and an average width of 0.6 m. The mine workings extend discontinuously for about 1,000 m along strike at depths less than 150 m.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

6.1.3 Kailey (Little Long Lac)

The following Kailey description is taken directly from Dorval et al. (2024), which is taken directly from Gignac et al. (2021). The 2021 Report summarized the work and findings presented in Murahwi et al. (2013).

6.1.3.1 Exploration History

Kailey is at the former Little Long Lac mine. In 1917, gold was discovered in the glacial drift along the shore near the Main Narrows on Little Long Lake. In 1932, various individuals staked claims. Sudbury Diamond Drilling Co. drilled the area of the gold discovery and outlined a commercial ore shoot. Little Longlac Gold Mines Ltd. was formed in 1933 to develop the mine. A three-compartment shaft was sunk to 137.16 m. An electric powerline reached the mine in 1934, and a 150 t/d mill was built. Between 1935 and 1940; underground development continued in the form of shaft sinking, drifting, winze sinking, cross-cutting, and so forth. Diamond drilling was extensive. In 1941, the discovery of scheelite in the ore resulted in handpicking of the tungsten-rich material. In 1942, the underground development continued. A small mill was built to treat the tungsten. Between 1943 and 1952, the underground development continued, and diamond drilling was extensive. In 1953, the mining operations continued until the end of the year. Salvage of equipment and mill clean-up followed. Between 1954 and 1956, limited production resulted from cleanup. In 1967, a new entity, also called Little Longlac Gold Mines Ltd., drilled 1,524 m to test the iron formation.

6.1.3.2 Production History

The Kailey property area includes the past-producing Little Long Lac mine. From 1934 to 1956, the Little Long Lac mine produced 1,615,713 tonnes at a grade of 11.7 g/t Au, for a total of 605,499 oz of gold. This accounts for about 20% of all the gold produced by the 10 mines in the Geraldton gold camp between 1934 and 1970, from approximately 10% of the tons milled.

6.1.4 Magnet Consolidated Mine

This description was taken from Dorval et al. (2024), which was a summary of an Ontario Division of Mines Report Gold Deposits of Ontario: Part 1 Districts of Algoma, Cochrane, Kenora, Rainy River, and Thunder Bay (Ferguson et al.1971) and has not been verified by the QP.

"The past-producing Magnet Consolidated Mine is located in the southwest part of Errington Township, about 8 km southwest of Geraldton (Figure 6-1).

The discovery of native gold on a small island in the southern part of Magnet Lake in 1931 initiated an intensive search for gold in the area. Between 1934 and 1936, trenching was performed by Magnet Lake Gold Mines, and 24,641 ft (7,512.5 m) of diamond drilling were carried out by Wells Mines Ltd. Drilling uncovered three mineralized zones, two of which—now known as the Magnet and Wells vein zones—showed considerable promise. To explore these zones jointly underground, the two companies amalgamated in 1936 to form Magnet Consolidated Mines Limited (Mason and White 1986).

Between 1936 and 1940, a shaft was sunk to a depth of 1,115 ft (339.9 m), with multiple levels from 203 ft (61.9 m) to 1,080 ft (329.3 m) from which 11,181 ft (3,408.8 m) of drifting and 1,943 ft (592.4 m) of crosscutting was done. A total of 13 underground DDHs totalling 1,665 ft (507.6 m) was completed. A 100-short ton amalgamation–flotation mill was built.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Between 1940 and 1952, the shaft was continued to a depth of 1,772 ft (540.2 m), with additional levels from 1,230 ft (375.0 m) to 1,730 ft (527.4 m). An inclined winze 228 ft long (69.5 m) was constructed between levels 9, 10, and 11. A winze was sunk 931 ft (284 m) from the 1,730 ft level to a total depth of 2,640 ft (804.5 m), with levels from 1,884 ft (574.3 m) to 2,610 ft (795.7 m). Drifting totalled 19,585 ft (5,971.0 m) and crosscutting 2,944 ft (897.6 m). The company drilled seven surface DDHs for a total of 4,029 ft (1,228 m), and 265 underground holes for a total of 113,123 m (43,054 m).

From 1938 to 1943 and from 1946 to 1952, 152,089 oz of gold and 16,879 oz of silver were produced from 359,912 tonnes of hoisted material. Average gold recovered grade was 0.42 oz/t (13.1 g/t)."

6.1.5 Bankfield Mine

The following description was taken from Dorval et al. (2024), which was a summary of Ferguson et al. (1971) and has not been verified by the QP.

"The past-producing Bankfield Mine is located near the southwest part of Magnet Lake in the west-central part of the Errington Township and extends into Lindsley Township. This historical mine is situated about 10 km west-southwest of Geraldton (Figure 6-1).

The property was originally staked in October 1931 by T. A. Johnson and Robert Wells when they discovered gold-bearing quartz occupying a shear zone cutting a small reef in the southern part of Magnet Lake. Subsequent to this discovery, a mineralized zone was found by surface exploration about 1,000 ft (304.8 m) southwest of the lake. Surface trenching and diamond drilling indicated sufficient material to merit development by underground methods.

Between 1934 and 1936, a shaft was sunk to a depth of 552 ft (168 m), with multiple levels from 150 ft (45.7 m) to 525 ft (160 m). Drifting totalled 2,468 ft (752.2 m) and crosscutting 781 ft (241 m). Underground diamond drilling totalled 1,416 ft (431.6 m), and drilling from surface totalled 2,237 ft (431.6 m) during this period. Work was performed by Bankfield Gold Mines Ltd.

Between 1935 and 1942, a winze (located in Lindsley Township) was sunk from the 525 ft level to a depth of 1,297 ft (395.3 m) from the surface, with multiple levels from 779 ft (237 m) to 1,275 ft (388.6 m). Sublevels were established at 275, 400, 1,025, and 1,150 ft. Drifting totalled 14,516 ft (4,424.5 m), and crosscutting 7,832 ft (2,387 m). Diamond drilling included 132 underground holes totalling 21,628 ft (6,592.2 m), six surface holes totalling 2,328 ft (709.6 m), and 10,145 ft (3,092.2 m) of unspecified drilling. A 100-short ton cyanide mill was constructed. The work was performed by Bankfield Consolidated Mines Ltd.

From 1937 to 1942 and from 1944 to 1947, a total of 66,417 oz of gold and 7,590 oz of silver were produced from 231,009 t of hoisted material. The average gold recovered grade was 0.29 oz/t (9.0 g/t)."

6.2 Brookbank Property

A summary of all available historical exploration information sourced from assessment files, company reports, and other publicly disclosed technical documents is compiled in Table 6-3. The author has compiled this information for completeness but has not independently verified the accuracy, quality, or reliability of the underlying data.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 6-3: Summary of Brookbank Property Exploration History

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| **Year** | **Company** | **Activity** | **Comments 1** | **Reference** |
| 1934–1935 | Connell Mining & Exploration Co. Ltd. | Surface trenching, test pits, limited diamond drilling | 17 trenches and numerous pits exposed a shear zone; gold values low and erratic; drilling results unknown; work suspended in 1935 |  |
| 1944 | Noranda Exploration Co. Ltd. | Mapping, trenching, 1,860 m diamond drilling (40 holes) | Testing the Brookbank Zone; no record of subsequent work by successor (Brookbank-Sturgeon) |  |
| 1974–1975 | Lynx-Canada Explorations Ltd. | Geological mapping, ground magnetics, 376 m diamond drilling (6 holes) | Magnetometer survey; testing thin siliceous band along volcanic-sedimentary contact | Watson, M.I. (1975) |
| 1981 | Metalore Resources | Line cutting, EM and VLF-EM surveys; 3,567 m diamond drilling (30 holes) | Property optioned from Brookbank-Sturgeon |  |
| 1982–1983 | Metalore Resources | 330 m diamond drilling (3 holes) on Brookbank West; 453 m (1 hole) on Foxear | Focus on volcano-sedimentary contact |  |
| 1983–1984 | Metalore Resources | 6,946 m diamond drilling (62 holes), including wedges; additional airborne magnetometer, gamma-ray spectrometer and VLF survey |  | Lassila, P. (1983)<br>Winter, L.D.S. (1983)<br>|
| 1984–1985 | Metalore Resources | 2,783 m diamond drilling (7 holes) on Brookbank Contact Zone; 960 m diamond drilling (14 holes) on Foxear target; additional ground magnetic and VLF-EM surveys a | Multi-zone drilling; additional geophysical coverage near Corrigan Lake | Kowalski, B. (1985a; 1985b; 1985c) |
| 1986 | Metalore Resources | 4,680 m diamond drilling total on Brookbank Contact (4 holes), Foxear (11 holes), Know-Patter Lakes (19 holes) and Cherbourg (6 holes) | Agreement entered with Hudson Bay Mining & Smelting | Kowalski (1986)<br>Kowalski (1987a)<br>Barrie, C.Q. (1987)<br>|
| 1987 | Hudson Bay Mining & Smelting | 11,203 m diamond drilling (44 holes) at Brookbank; 2,777 m (10 holes) at Foxear; ground magnetic and VLF-EM survey; mineralogical studies and preliminary metallurgical testing completed on one mineralized sample | Multi-zone drilling; geophysics near Knox Lake | Kowalski (1987b; 1987c); |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

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| **Year** | **Company** | **Activity** | **Comments 1** | **Reference** |
| 1988 |  | Termination of Hudson Agreement | Due to ownership dispute between Metalore and Ontex |  |
| 1989 | Placer Dome, Metalore | 650 m by 15 m stripping, 1"=10' mapping, 215 channel samples (244 linear m); 7,010 m diamond drilling (18 holes) at Brookbank Contact; additional drilling at Cherbourg (1,437 m; 5 holes) and Foxear (984 m; 2 holes) | Optioned property; Ontex was not a party; drilling tested to 670 m vertical depth<br>|  |
| 1990–1993 | Ontex, Metalore | Ontex awarded controlling rights to property and Metalore disputes in court | Litigation halted exploration programs; Placer Dome option fails due to unresolved controlling ownership | Ontex Resources Ltd. v. Metalore Resources Ltd. (1990), 75 O.R. (2d) 513 (Gen. Div.) |
| 1993–1994 | Metalore | Regains property by appeal; 533 m diamond drilling (4 holes) on Brookbank, 2,107 m (15 holes) at Cherbourg and 3,323 m (7 holes, including wedge) at Foxear. |  | Appeal (1993) 13 O.R. (3d) 229, 103 D.L.R. (4th) 158, 12 B.L.R. (2d) 226 (C.A.) |
| 1998 | Fortune Minerals, Ontex Resources, Metalore Resources, Faymar Gold | Option agreement between 4 parties | Settlement reached; Ontex acquires release of Metalore's right to earn an interest in the Brookbank leases and Ontex took over as operator of Brookbank and all Metalore property in area |  |
| 1999–2009 | Ontex Resources | 1,807 line km airborne geophysics and 80,227 m diamond drilling (201 holes, including wedges) at Brookbank (55,252 m; 138 holes), Cherbourg (14,358 m; 35 holes), and Foxear (10,617 m; 22 holes) |  | Rudd, J. (1999)<br>Chilian, A. (2001)<br>Webster, B. (2001)<br>Chilian, A. (2007)<br>Siemieniuk & Clark (2010)<br>|
| 2009 | Ontex Resources | Scott Wilson Mining files NI 43-101 Technical Report |  | (Blakely & Moreton, 2009) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

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| **Year** | **Company** | **Activity** | **Comments 1** | **Reference** |
| 2011 | Premier Gold Mines | Goldstone Resources acquired by Premier Gold Mines Ltd. |  |  |
| 2012 | Premier Gold Mines | 1,359 m diamond drilling (2 holes) at Brookbank Contact Zone |  |  |

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6.3 Viper Property

A summary of all available historical exploration information sourced from assessment files, company reports, and other publicly disclosed technical documents is compiled in Table 6-4. The QP has compiled this information for completeness but has not independently verified the accuracy, quality, or reliability of the underlying data.

#### Table 6-4: Summary of Viper Property Exploration History

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| **Year** | **Company** | **Activity** | **Comments** | **Reference** |
| 1934 | Moses Fisher (prospector) | Gold discovered |  | Mason and White (1986) |
| 1935 | Afton Gold Mines | Property acquired, surface stripping |  | Mason and White (1986) |
| 1936 | Afton Gold Mines | Diamond drilling conducted; two surface bulk samples prepared; 2-compartment inclined shaft commenced |  | Mason and White (1986) |
| 1937 | Afton Gold Mines | Underground development; shaft sunk to 66.1 m; surface diamond drilling 2,398 m | Option agreement was dropped | Mason and White (1986) |
| 1938 | Theresa Gold Mines | Company incorporated; installed mill facility |  | Mason and White (1986) |
| 1939 | Theresa Gold Mines | 2-compartment vertical shaft sunk; no development on previous workings; operations suspended after outbreak of WWII |  | Mason and White (1986) |
| 1947 | Theresa Gold Mines | Underground development resumed; 61 m underground diamond drilling (2 holes) |  | Mason and White (1986) |
| 1948-1949 | Theresa Gold Mines | Underground diamond drilling 10,881 m (115 holes) |  | Mason and White (1986) |
| 1950 | Theresa Gold Mines | 100 t/d mill completed; 757 m (10 holes) drilled from surface, 8,310 m (103 holes) drilled from underground; | Operations commenced at average throughput of 71 t/d | Mason and White (1986) |
| 1951 | Theresa Gold Mines | Underground development continued; shaft deepened to 300 m; 1,314 m (10 holes) surface diamond drilling and 2,502 m (35 holes) underground. | Average mill rate 108 t/d | Mason and White (1986) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

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|:---|:---|:---|:---|:---|
| **Year** | **Company** | **Activity** | **Comments** | **Reference** |
| 1952-1953 | Theresa Gold Mines | Underground development continued; 4,393 m (60 holes) diamond drilled from underground |  | Mason and White (1986) |
| 1954 | Theresa Gold Mines | Operations suspended February 1954 | Theresa produced 4,785 oz Au from 31,750 t ore (4.68 g/t recovered grade) | Mason and White (1986) |
| 1960 | Prospectors | Claims re-staked |  | Mason and White (1986) |
| 1961 | Caravelle Mines, Newrich Explorations | Limited work completed | 12 claims optioned to Caravelle, dropped later in year to Newrich Explorations Ltd. | Mason and White (1986) |
| 1962-1964 | Newrich Explorations | Mine dewatered and 1,039 m (17 holes) diamond drilled from underground | Option dropped at end of 1964 program | Mason and White (1986) |
| 1966 |  | The 12 claims comprising the Theresa property were cancelled |  |  |
| 1972 | D.E. Christianson, L.G. Phelan, R. Laird, Proto Explorations and Holdings | Line cut grid, performed geological mapping magnetic survey and limited trenching | Property restaked as part of a 40 claim block by a group of prospectors; optioned to Proto Explorations and Holdings Ltd. | Mason and White (1986) |
| 1973 | Proto Explorations and Holdings | Surface diamond drilling 1,742 m (18 holes) | Option was dropped at end of year due to no economic results. | Mason and White (1986) |
| 1980\* | Shell Resources Canada | Surface diamond drilling 1,250 m (14 holes); airborne geophysical survey | . | Cleland (2015) |
| 1980\* | Cal Hogg (private) | 270 m (2 holes) surface drilling |  | Cleland (2015) |
| 1982 | Cotton Valley Resources | Property optioned |  | Mason and White (1986) |
| 1983 | Cotton Valley Resources, Mid North Exploration Services | Portion of property optioned to Mid North Exploration Services; claims leased for 21 years |  | Mason and White (1986) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

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|:---|:---|:---|:---|:---|
| **Year** | **Company** | **Activity** | **Comments** | **Reference** |
| 1985 | Conscot Resources | Cotton Valley Resource renamed to Conscot Resources; property dropped |  | Mason and White (1986) |
| 1987\* | Discovery West, Roxmark Mines | Airborne EM and ground magnetic, EM surveys; prospecting; 180 m (2 holes) surface drilling |  | Cleland (2015) |
| 1987-1988 | Duration Mines | Geological sampling, mapping, VLF-EM and magnetic surveys; dewatering and rehabilitation, mapping and sampling of underground workings; surface diamond drilling 5,818 m (35 holes) and 7,392 m (65 holes) underground. | Acquired by Duration Mines Ltd. | Ellingham (1988) |
| 1997\* | Cyprus Canada | 1,800 m (11 hole) surface diamond drilling; outcrop mapping | Au-bearing quartz vein in mafic tuff intersected in 3 holes (7.3 m of 1.98 g/t, 5.4 m of 0.58 g/t, 6.5 m of 1.87 g/t) | Cleland (2015) |
| 2003-2009 | R. Laird | Geological mapping and prospecting |  | Jensen (2009) |
| 2006\* | A. Tims | "B" horizon soil and MMI sampling program |  | Cleland (2015) |
| 2007\* | H. Buck, F. Blair | "B" horizon soil sampling, prospecting and mapping |  | Cleland (2015) |
| 2008\* | Kodiak Exploration | Ground magnetic survey |  | Cleland (2015) |
| 2009\* | A. Tims | Magnetometer and VLF-EM survey on north end of McBean Lake |  | Cleland (2015) |
| 2010\* | Kodiak Exploration | Two limited prospecting programs completed |  | Cleland (2015) |
| 2014-2016\* | Premier Gold Mines | Soil sampling, prospecting; high-resolution ground magnetic survey; re-log and sample 1,851 m of Cyprus drill holes |  | Cleland (2015; 2016) |
| Notes:<br> VLF EM: very low frequency electromagnetic<br> \*Activity on claims separately held but contiguous to the original Theresa Gold Mines property | Notes:<br> VLF EM: very low frequency electromagnetic<br> \*Activity on claims separately held but contiguous to the original Theresa Gold Mines property | Notes:<br> VLF EM: very low frequency electromagnetic<br> \*Activity on claims separately held but contiguous to the original Theresa Gold Mines property | Notes:<br> VLF EM: very low frequency electromagnetic<br> \*Activity on claims separately held but contiguous to the original Theresa Gold Mines property | Notes:<br> VLF EM: very low frequency electromagnetic<br> \*Activity on claims separately held but contiguous to the original Theresa Gold Mines property |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

7.0 Geological Setting and Mineralization

This section has been excerpted with slight modifications from Dorval et al. (2024). The portions of this section excerpted from previous NI 43-101 Technical Reports, as noted, are reasonable and represent current knowledge of the geologic setting and mineralization.

7.1 Greenstone Mine Regional Geological Setting

The Greenstone Mine (formerly the Hardrock Project) lies within the granite–greenstone Wabigoon Subprovince of the Archean Superior Craton, in eastern Canada (Figure 7-1). The Wabigoon Subprovince, averaging 100 km wide, is exposed for some 900 km eastward from Manitoba and Minnesota, beneath the Mesoproterozoic cover of the Nipigon Embayment, to the Phanerozoic cover of the James Bay Lowlands (Card and Poulsen 1998). The Wabigoon Subprovince is bounded on the south by the metasedimentary Quetico Subprovince, on the northwest by the plutonic Winnipeg River Subprovince, and on the northeast by the metasedimentary English River Subprovince. The Wabigoon–Quetico Subprovince boundary is a structurally complex, largely faulted interface.

The Wabigoon Subprovince can be subdivided into western greenstone-rich domains in the Lake of the Woods–Savant Lake and Rainy Lake Areas, a central dominantly plutonic domain, and an eastern greenstone-rich domain in the Beardmore–Geraldton Area (Blackburn et al. 1991). Deformation and syn- to post-tectonic plutonism occurred between 2,711 to 2,685 Ma. Based on limited geochronological data, the diverse arc-type volcanic sequences in the eastern Wabigoon Subprovince are thought to be mainly Neoarchean, some as old as 2,769 Ma (Anglin et al. 1988).

Figure 7-2 illustrates the regional geology of the Beardmore–Geraldton area. The following has been drawn from Reddick et al. (2010).

The Mine is located within the Beardmore–Geraldton Greenstone Belt that contains several narrow, east–west striking sequences of volcanic and sedimentary rocks of Archean age. The southern edges of these sequences are spatially related to the through-going, major structural discontinuities thought to be thrust faults that have imbricated the sedimentary sequences. A comprehensive description of the regional geology can be found in Smyk et al. (2005). In the Geraldton area, most of the gold mines and a number of gold showings occur within or proximal to the Bankfield–Tombill Deformation Zone (also known as the Barton Bay Deformation Zone), a zone of folding and shearing up to 1 km wide. The southern limit of the Bankfield–Tombill Deformation Zone (BTDZ) is marked by the Bankfield–Tombill Fault, a zone of intense shearing up to 12 m wide.

In the immediate Geraldton area, the dominant rock types are clastic sediments (greywacke and arenite), oxide facies banded iron formations (BIF) and minor mafic metavolcanics. There are a number of younger intrusives, including an albite-rich porphyry unit (Hardrock Porphyry) that is spatially associated with much of the gold mineralization on the Hardrock, MacLeod–Cockshutt and Mosher mines. Significant gold mineralization is also often spatially associated with BIF. In the case of the Little Long Lac mine, gold mineralization is primarily hosted by an arkosic unit.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 7-1: Plan of Major Geological Elements—Wabigoon Subprovince
Source: Toth et al. 2022.

#### Figure 7-2: Regional Geology of the Beardmore-Geraldton Area
In addition to the belt scale and local faulting, there has been locally intense ductile deformation of the rocks in the Geraldton area, which is manifested as tight to almost isoclinal, generally upright, polyharmonic folding of major lithologic units, penetrative deformation, folding and boudinage of veins, lithographic units and local transposition of primary contacts. The degree of deformation is apparent in deformed rocks that are dependent on both primary lithology and proximity to the Bankfield–Tombill Fault.

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| 7-2 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Gold mineralization in the Hardrock, MacLeod–Cockshutt, Mosher, and the Little Long Lac mines generally occur subparallel to the host rock unit contacts and in association with subvertical structures associated with quartz veins or stringers, minor to semi-massive sulphides (associated with replacement zones in BIF), and weak to moderate carbonate and weak to strong sericite alteration. The ore zones rake shallowly towards the west in the vicinity of the Hardrock, MacLeod–Cockshutt and Mosher mines (15° to 30° W) and slightly more steeply towards the west at the Little Long Lac mines (50° to 60° W), consistent with the fold geometry in each area and parallel to fold hinges.

Gold mineralization occurs in a variety of host rocks, and the style of mineralization is partly a function of the host rock. While the location and overall orientation of the orebodies appear to have been largely structurally controlled, the deformation of the orebodies has not been as intense as that of the host rocks (Table 7-1). Nevertheless, there are areas where local folding and boudinage of mineralized veins is apparent. Additionally, there are strong secondary controls that influence the extent and intensity of gold mineralization, such as the competency contrast between host rocks (e.g., the Hardrock Porphyry and its contacts with either wacke or BIF) and the chemical character of the host rocks (e.g., oxide facies BIF being replaced by sulphides).

#### Table 7-1: Summary of Deformation and Gold Mineralization Events—Beardmore–Geraldton Greenstone Belt

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|:---|:---|:---|
| **Regional Deformation Style** | **Description of Structures** | **Description of Structures** |
| **Regional Deformation Style** | **Folding** | **Foliation** |
| D1 Thrusting | Gold Mineralization | Gold Mineralization |
| D1 Thrusting | Isoclinal, recumbent F1 folds;<br> Up to 1 m in amplitude | Strong; appears in some mafic dykes and QFP;<br> bedding parallel in sedimentary rocks |
| D2 Sinistral Transpression | Tight upright regional F2A folds; <br> Plunge: 20°W–70°W;<br> Amplitude up to several km | E-trending, steeply dipping S2A;<br> Axial-planar to F2A folds;<br> Parallel to slightly CW/ACW of bedding |
| D2 Sinistral Transpression | Gold Mineralization (or Remobilization) | Gold Mineralization (or Remobilization) |
| D2 Sinistral Transpression | Tight to open S-shaped F2B folds;<br> Amplitude up to tens of centimetres | E-trending, steeply dipping S2B;<br> Axial-planar to F2B |
| D3 Dextral Transpression | Gold Mineralization (or Remobilization) | Gold Mineralization (or Remobilization) |
| D3 Dextral Transpression | Z-Shaped F3A folds;<br> Plunge: 20°W–60°W;<br> Amplitude up to several km | ENE-trending, steeply dipping S3A;<br> Axial-planar to F3A.<br>Oriented ACW to bedding<br>|
| D3 Dextral Transpression | Dextral E-trending shear zones localized along S2 and lithological contracts | Dextral E-trending shear zones localized along S2 and lithological contracts |
| D3 Dextral Transpression | Z-shaped F3A drag folds overprinting foliation in shear zones | Sinistral slip S3B crenulation cleavage; <br> Axial-planar to F3B |
| Source : Lafrance et al. (2004) ; Tóth et al. (2013, 2014a, 2014b, 2024). | Source : Lafrance et al. (2004) ; Tóth et al. (2013, 2014a, 2014b, 2024). | Source : Lafrance et al. (2004) ; Tóth et al. (2013, 2014a, 2014b, 2024). |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

7.2 Property Geology

This subsection has been modified from Reddick et al. (2010).

The southern limit of the Hardrock property is largely coincident with the Bankfield–Tombill Fault. The fault is described as a variably deformed, largely ductile, high-strain zone characterized by strong heterogeneous penetrative strain, narrow shear zones, and breccias zones cutting a variety of protoliths. Where it is most highly deformed it is described as a "crush zone" by Smyk et al. (2005) that "has been intensely silicified (Pye 1952), carbonatized (Anglin and Franklin, 1985) and contains minor amounts of gold (Pye 1952)." Horwood and Pye (1951) describe this fault as a "strongly sheared and brecciated zone, which in Ashmore Township attains a width of 40 ft, strikes N. 77° W. and dips at 70° S."

Figure 7-3 illustrates the property geology.

#### Figure 7-3: Geology of Historical Mines near Greenstone Mine
South of the Bankfield–Tombill Fault, the rocks are primarily sediments. To the north of the Bankfield–Tombill Fault, the Hardrock property is dominated by a series of sedimentary units that have an approximate east–west and subvertical orientation. The majority of these units are greywacke/argillite, arenite, or oxide facies iron formation. Minor conglomerate units are also found. In the Hardrock area, some of the argillite units also contain 1% to 5% magnetite, making the distinction between argillite and lean iron formation difficult in places. Individual millimetre to centimetre-scale bedding is commonly observed in turbidite-type sequences within the well-bedded units. Massive wacke and arenaceous units are also found. BIF can vary from centimetres to decimetres thick, with millimetre-to-centimetre beds common. Although the BIF units are locally tightly folded, attenuated, or boundinaged, individual units can, in some cases, be traced for hundreds to thousands of metres along strike. The greywacke in the vicinity of the Hardrock and MacLeod–Cockshutt mines can contain up to 5% millimetre to centimetre-scale magnetite beds and has been historically referred to as "Lean Iron Formation" in the mining terminology (Figure 7-4).

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Intrusive rocks include the Hardrock Porphyry, diorite, gabbro, and diabase dykes. It is of interest that the Hardrock Porphyry seems to be sill-like in nature, even though it is tightly folded, and the contacts between it and the sedimentary units are often highly deformed. The general scale and folding pattern of the porphyry very closely match the geometry of the conglomerate unit that occurs in the vicinity of the Hardrock and MacLeod–Cockshutt mines (Figure 7-5 and Figure 7-6).

#### Figure 7-4: Arkosic Unit within Greywackes, Hardrock Deposit Area, DDH 19-21
Source: Equinox 2026.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 7-5: Contact of Hardrock Porphyry and Greywacke
Source: Equinox 2026.

Note: The folded contact and minor drag folds. Pen points north.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 7-6: Contact of Sheared Gabbro (Right) with BIF (Left), DDH 19-52
Source: Equinox 2026.

7.3 Alteration

The Mine is underlain by a lithologically heterogeneous package of rocks with anomalous volumes of mafic and felsic intrusions and BIF. Conglomerate occurs along the BTDZ, where most of the gold mines are located. All these rocks are highly strained and have attained lower greenschist facies metamorphism. Despite lithological constraints, it can be demonstrated that chemical alteration near the gold mines often consists of enrichment in gold, silicon, potassium, barium, and carbon dioxide, and depletion in magnesium and calcium (Lavigne 2009). This is manifested as silicification and quartz veining enveloped by sericite–carbonate alteration, accompanied by disseminated pyrite, arsenopyrite, and pyrrhotite (Figure 7-7).

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| 7-7 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 7-7: Quartz Carbonate Veins and Sericite Carbonate Alteration at the F Zone
Source: Equinox 2026.

7.4 Mineralization

The following discussion on mineralization was excerpted from Smyk et al. (2005).

"Gold mineralization in the Beardmore-Geraldton Belt has resulted from the introduction of hydrothermal fluids in zones of high crustal permeability. Permeability was generated by prolonged, multiple periods of deformation, which focused not only on fluids but also on magmatic activity and intrusions. In the Hardrock Deposit area, a major zone of deformation in which the gold mines are located has been alternatively termed the Bankfield–Tombill Fault Zone (Pye 1952; Horwood and Pye 1951) or the BTDZ (Lafrance et al. 2004, and herein).

Most mineralized occurrences in the Hardrock deposit area lie in a zone of deformation to the immediate north of, and genetically linked to, the BTDZ. This zone of deformation varies from 600 m to 100 m in total width (Figure 7-8), while the crush zone of the Bankfield–Tombill Fault proper ranges from metres to hundreds of metres in width."

Previously, gold mineralization was interpreted to be associated with D3 brittle shear zones and folds overprinting regional F2 folds (Lafrance et al. 2004); however, more recent studies (e.g., Tóth et al. 2024) suggest that gold mineralization was emplaced relatively early during the structural history of the belt, with multiple stages during the earlier D1 thrusting and D2 sinistral transpression events. The mineralization and earlier structures were then rotated and overprinted during the D3 event. On a subprovince scale, regional folds cut by D3 dextral shear zones reflect long-lived structural events and are promising targets for discovering the next generation of large gold deposits.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 7-8: Block Diagram of North Zone at the Historical MacLeod–Cockshutt and Hardrock Mines (showing orebodies in black)
![](fig7_8.jpg)

Source: Lafrance et al. 2004

The diagram in Figure 7-8 was drawn using level mine plans published in Horwood and Pye (1952) and shows the overprinting of an F2 S-fold by an F3 Z-fold on the north limb of the Hardrock Anticline. Ore pods are shown in black, concentrated in the fold hinge of an earlier fold. Deformed quartz and quartz-carbonate veins, and sulphidized replacement zones occur in BIF host and are spatially related to gold mineralization. Veins are commonly boudinaged or folded, while the wall rock is foliated, silicified, and sericitized with disseminated pyrite, pyrrhotite, and arsenopyrite.

7.4.1 Interpretation of Gold Mineralization

The interpretation of the mineralized zones is based directly on a lithostructural model developed by InnovExplo, with some local updates completed internally for this update. As compared to the 2024 block model, where some mineralized zones were projected beyond the fold-constrained lithological boundary, the updated interpretation has constrained mineralized zones to reflect the fold geometry and host geologic units. Observed field relationships indicate the bulk of mineralization has undergone the same deformation as these units. In the updated model, lithological domains and mineralized zones are located inside three areas (Figure 7-9 and Figure 7-10).

The North Domain consists of a refolded (F3 overprinting F2) sequence of BIF and greywacke, with minor porphyry and gabbros. This essentially consists of the large folded "knot" of iron formation and intercalated wackes, which plunge to the west at 20° to 35°. Three BIF units are present, denoted by "IF" in the unit names, interlayered with the Mineralized Central Wacke and the undifferentiated greywackes. The North Gabbro is located between the two northernmost BIF units. From top to bottom, the units are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;· North IF 3

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;· North Gabbro

&nbsp;&nbsp;&nbsp;&nbsp;· North IF 2

&nbsp;&nbsp;&nbsp;&nbsp;· North IF 1

**Figure 7-9: Plan View of Greenstone Lithostructural Model showing Mineralized Zones at 300 m (top) and -200 m (bottom) Elevations (Projection: UTM Zone 16; NAD 83)**

Source: Equinox 2026.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 7-10: Cross-Section of Greenstone Mine Lithostructural Model with Mineralized Zones, Looking West; Top: 4200E; Bottom: 4950E
Source: Equinox 2026.

![](fig7_10b.jpg)

Source: Equinox 2026.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

In the North Domain, mineralization appears to be preferentially spatially associated with the complex refolded area affecting the BIFs and the North Gabbro. Gold mineralization occurs within all rock types but shows a preferential association with the BIFs and gabbro. The mineralization and historical underground workings are centred on the older fold hinge but also extend along the limbs away from the nose. Both the fold hinge and the mineralization are then refolded by the younger event. Previously, these zones were outlined as listed:

&nbsp;&nbsp;&nbsp;&nbsp;· North 1 Zone

&nbsp;&nbsp;&nbsp;&nbsp;· North 2 Zone

&nbsp;&nbsp;&nbsp;&nbsp;· North 3 Zone

A Central Domain consists mainly of an undifferentiated greywacke sequence and a mineralized portion of this greywacke, defined as the Mineralized Central Wacke, which are both likely sheared and folded. Previously, three mineralized zones were defined within the Central Domain to constrain zones of higher-grade gold mineralization inside the Mineralized Central Wacke.

From south to north, the three mineralized zones are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;· F Zone

&nbsp;&nbsp;&nbsp;&nbsp;· F2 Zone

&nbsp;&nbsp;&nbsp;&nbsp;· Central Zone

A South Domain is characterized by a tightly folded (F2) stratigraphic sequence, consisting of the following units from top to bottom:

&nbsp;&nbsp;&nbsp;&nbsp;· Upper Greywacke

&nbsp;&nbsp;&nbsp;&nbsp;· Mid BIF

&nbsp;&nbsp;&nbsp;&nbsp;· Upper BIF

&nbsp;&nbsp;&nbsp;&nbsp;· Porphyry

&nbsp;&nbsp;&nbsp;&nbsp;· Lower BIF

&nbsp;&nbsp;&nbsp;&nbsp;· Mid Conglomerate

&nbsp;&nbsp;&nbsp;&nbsp;· Mid Ultramafic

&nbsp;&nbsp;&nbsp;&nbsp;· Mid Greywacke

&nbsp;&nbsp;&nbsp;&nbsp;· Lower Conglomerate

&nbsp;&nbsp;&nbsp;&nbsp;· Lower Greywacke

Gold mineralization within the South Domain is primarily associated with the "main" anticline (Hardrock Anticline) and preferentially within both BIFs and along the contact/within the porphyry unit. Five mineralized zones were outlined as follows (from south to north):

&nbsp;&nbsp;&nbsp;&nbsp;· Tenacity Zone

&nbsp;&nbsp;&nbsp;&nbsp;· SP2 Zone

&nbsp;&nbsp;&nbsp;&nbsp;· SP Zone

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;· Lower Zone

&nbsp;&nbsp;&nbsp;&nbsp;· A Zone

There are also a number of mineralized intersections within the wackes and near the contacts of the south porphyry.

The South Gabbro unit marks the southern limit of the deposit and is interpreted to be spatially associated with the Bankfield-Tombill Deformation Zone, but it shows no evidence of mineralization.

Figure 7-11 and Figure 7-12 were photographs taken of the pit walls in August 2024 and show the various relationships between rock types and the structural deformations.

#### Figure 7-11: Greenstone Mine, East Pit at West Wall (Porphyry Hill)—Historical Underground Workings Visible Along Deformed Iron Formation-Porphyry Contact
Source: Dorval et al. 2024

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 7-12: Greenstone Mine, East Pit at Southeast Corner—Folded Porphyry and Greywacke Units Crosscut by Younger Diabase Dykes
Source: Dorval et al. 2024

7.4.2 Style of Gold Mineralization

The following discussion on the style of gold mineralization was modified after Davie (1995).

7.4.2.1 Quartz-Carbonate Stringer Mineralization

Zones which are categorized as quartz-carbonate stringer mineralization include F Zone, F2 Zone, A Zone, SP Zone, Central Zone, parts of the N1 Zone and Tenacity Zone. Mineralization within these zones generally consists of a series of narrow, tightly asymmetrically folded gold-bearing quartz-carbonate stringers, which are usually attenuated, transposed, and dislocated in hook-like segments. The stringers are accompanied by a gold-bearing quartz-sericite-pyrite (±arsenopyrite) alteration halo about the stringers. It is the accumulation of a number of stringers and associated alteration halos that constitute the zones. Individual stringers and their associated alteration haloes within the mineralized zones are often high-grade with minute flecks and clusters of visible gold. Assay results of up to, and often greater than, 30 g/t Au are attainable from some stringers. Overall, zones having average grades of 4 g/t Au, as individual stringers are too narrow and discontinuous to consider mining as separate higher-grade zones.

The quartz-carbonate stringers and veins display parallel to crosscutting relationships in varying lithologies; however, not unlike the sulphide replacement-type mineralization, they appear to show an affinity towards rocks with higher iron content (Figure 7-13). When in the sediments, the mineralized zones often occur within or proximal to lean iron formations, and variable amounts of pyrite, arsenopyrite, and pyrrhotite appear to replace the iron oxides in the quartz-sericite alteration halos about the stringers. When the mineralization occurs in porphyry, the porphyry displays a similar alteration assemblage, with the sulphide having replaced the 0.5% to 1% disseminated hematite content noted in the less altered, hematite-stained porphyry.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 7-13: Deformed Quartz-Carbonate Stringers in BIF, Headframe Outcrop
Source: Dorval et al. 2024

All evidence indicates that the mineralized zones have undergone identical deformation to that displayed by the lithologies and individual veins. As a result, the mineralized zones appear to be the preserved portions of isoclinally and asymmetrically folded mineralized zones occurring at or near the hinge lines of major and minor fold axes (Figure 7-14). An understanding of this deformation is critical in determining which drill-hole extrapolations have the best probability of intersecting mineralization.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 7-14: Folded Quartz-Carbonate Veins within Altered Quartz-Porphyry, Porphyry Hill Sulphide Replacement Mineralization
Source: Dorval et al. 2024

7.4.2.2 Sulphide Replacement Mineralization

Zones that are categorized as sulphide replacement mineralization include the North 1, North 2, and North 3 zones (later grouped into N1 and N2 domains). The nature of the mineralization within these zones is best understood from the historical work completed on the North 1 Zone. Mineralization within these zones occurs as variable pyrite, arsenopyrite, and pyrrhotite replacement of iron oxide at the margins of quartz veins, within the hinge zones of folded BIFs. The auriferous sulphide replacement appears to have migrated outwards along the iron oxide bands from gold-bearing quartz-carbonate stringers occupying brittle axial planar tension fractures. This replacement mineralization yields grades of 7 g/t Au or greater.

7.4.3 Mineralization by Domain (2025-Present)

Following the initial discovery of gold at the Hardrock Mine in 1934, and during subsequent exploration and mining over the next 80 years, many different naming systems have been used for the mineralized zones. Table 7-2 summarizes the evolution of the nomenclature.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 7-2: Historical and Current Nomenclature of Mineralized Areas at Greenstone Mine

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| **Domain Group** | **Mineral Domain (2025-present)** | **Zone (2024)** | **Former Names** | **Historical Name** | **Description** |
| North | N1 | North 1 | High-Grade North Zone | North Zone | Iron formation sulphide replacement |
| North | N1 | North 1 | North Zone | North Zone | Iron formation sulphide replacement |
| North | N2 | North 2 | North Zone | n/a | Iron formation sulphide replacement |
| North | N2 | North 3 | North Wall Zone | n/a | Iron formation sulphide replacement |
| Central | F | F | F Zone | F Zone | Quartz-carbonate stringers in greywacke |
| Central | F | F2 | Fortune (F2) Zone | n/a | Quartz-carbonate stringers in greywacke |
| Central | Central | Central | n/a | n/a | Quartz-carbonate stringers in greywacke |
| South | Tenacity | Tenacity | Tenacity Zone | B Zone | Quartz-carbonate stringers in greywacke and conglomerate |
| South | SP | SP2 | SP Zone | n/a | Quartz-carbonate stringers in greywacke and minor Iron formation sulphide replacement |
| South | SP | SP | SP Zone | South Zone/Trench Zone | Quartz-carbonate stringers in porphyry and greywacke and minor Iron formation sulphide replacement |
| South | SP | Lower | P Zone | P Zone | Quartz-carbonate stringers |
| South | SP | A | A Zone | A Zone | Quartz-carbonate stringers in greywacke and lesser porphyry |
| South | South | n/a | n/a | n/a | Quartz-carbonate stringers in porphyry and greywacke |
| \*As the 2025 resource wireframe was constructed as one continuous mineralized model throughout the deposit, a domain model was created to compare historical nomenclature to the update and statistically analyze the different mineralization types. | \*As the 2025 resource wireframe was constructed as one continuous mineralized model throughout the deposit, a domain model was created to compare historical nomenclature to the update and statistically analyze the different mineralization types. | \*As the 2025 resource wireframe was constructed as one continuous mineralized model throughout the deposit, a domain model was created to compare historical nomenclature to the update and statistically analyze the different mineralization types. | \*As the 2025 resource wireframe was constructed as one continuous mineralized model throughout the deposit, a domain model was created to compare historical nomenclature to the update and statistically analyze the different mineralization types. | \*As the 2025 resource wireframe was constructed as one continuous mineralized model throughout the deposit, a domain model was created to compare historical nomenclature to the update and statistically analyze the different mineralization types. | \*As the 2025 resource wireframe was constructed as one continuous mineralized model throughout the deposit, a domain model was created to compare historical nomenclature to the update and statistically analyze the different mineralization types. |

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7.4.3.1 N1 and N2 Domains

The N1 and N2 domains both represent two main types of mineralization – fracture filling and replacement. They are characterized by the presence of massive sulphides, but the fracture filling type contains greater amounts of quartz and carbonate.

The N1 domain is an amalgamation of mineralized areas of the historical North Zone located at the Z fold hinge of the main iron formation, and the High-Grade North Zone located further west.

The N2 domain is located along the northern synclinal limb of the historical North Zone and encompasses most of its mined resources. Mineralization is present along the iron formation and at the contact between the upper iron formation and the northern gabbro and enveloping greywacke. Gold mineralization is focused in areas with intercalated bands (1 to 50 cm wide) composed of all three lithologies, indicating tight isoclinal folding. Mineralization is accompanied by moderate chlorite and sericite alteration in the gabbro and greywacke, and weak to moderate fuchsite alteration in the gabbro. Mineralization is associated with arsenopyrite and pyrite sulphides in all three lithologies.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

7.4.3.2 F Domain

Mineralization in the F domain lies proximal to the northern contact between the quartz-feldspar porphyry and greywacke (F Zone) and the horizon directly north composed of multiple, en-echelon, narrow vein zones located (F2 Zone). Gold mineralization is associated with trace to 5% pyrite and lesser arsenopyrite and pyrrhotite.

7.4.3.3 Central Domain

The Central domain is a lens within the greywacke envelope adjacent to the N1 domain and subparallel to the south limb of the North IF-1 unit. Similar to the F domain, the Central is characterized by quartz carbonate stringers with trace to 2% pyrite and lesser arsenopyrite, hosted in greywacke with moderate to minor sericite, chlorite and carbonate alteration.

7.4.3.4 Tenacity Domain

The Tenacity domain is marked by moderately to intensely silicified and veined greywacke host rocks, adjacent to folded altered ultramafic and conglomerate units, with the strongest mineralization localized under the ultramafic in antiform hinge. Gold mineralization is associated with traces to 5% pyrite and lesser pyrrhotite and arsenopyrite, accompanied by sericite and chlorite alterations in sediments or talc and serpentine alterations in the ultramafic unit.

7.4.3.5 SP Domain

The SP domain encompasses mineralization centred around the main anticline of the deposit that was previously captured as four separate zones: the SP, SP2, A, and Lower Zones. The SP domain mineralization is now grouped into three litho-structural settings:

&nbsp;&nbsp;&nbsp;&nbsp;1. Within the porphyry and at the contact with the lean iron formation/greywacke unit along the southern limb of the main porphyry anticline, proximal to the hinge of a parasitic asymmetrical Z-fold (previously SP/SP-2 Zone)

&nbsp;&nbsp;&nbsp;&nbsp;2. In the hinge of the Lower BIF with intercalated greywacke (previously Lower Zone)

&nbsp;&nbsp;&nbsp;&nbsp;3. Irregularly folded within the folded and fractured greywacke and conglomerate below the northern limb of the porphyry (previously A Zone)

Gold mineralization is primarily present as quartz-carbonate stringers associated with trace to 5% pyrite and lesser arsenopyrite, as well as occurring as free gold in the quartz-carbonate stringers, accompanied by carbonate and sericite alteration. Sulphide replacement consisting of 2% to 10% blebby pyrite is also localized at the contact margins between porphyry and iron formation.

7.5 Other Greenstone Mine Property Deposits

7.5.1 Regional Geological Setting

The regional geological setting described in Section 7.1 for the Greenstone Mine, and summarized in Table 7-1, is applicable to the Greenstone Gold Property as a whole. The following sections 7.5.2 to 7.5.7 have been excerpted from Dorval et al. (2024), which in turn was excerpted from Gignac et al. 2021. The QP has reviewed the following descriptions and can attest to their reasonableness within the current understanding of regional geological setting.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

7.5.2 Brookbank Property

7.5.2.1 Local Geology

The Brookbank property is underlain by metavolcanic and metasedimentary rocks that trend predominantly east–west and dip steeply to vertically to the south. Metavolcanic rocks consist of massive and pillowed, locally amygdaloidal, flows of basaltic composition along with related tuffaceous rocks. Pillowed flows exhibit tops to the north. They are locally intercalated with coarser-grained rocks of similar composition that have been interpreted as either intrusions or coarse-grained volcanic phases at the center of thicker basaltic flows. The metavolcanic rocks are locally intruded by quartz-feldspar porphyritic dykes. Figure 7-15 presents a geological map of the prospect.

Mafic metavolcanic rocks are fault-bounded against domains of metasedimentary rocks. The northern domain consists of a polymictic conglomerate with pebble- to boulder-sized, rounded to subrounded clasts in a feldspar-quartz-sericite matrix. Clasts consist of volcanic and intrusive rock types of various compositions, quartz pebbles, and jasper, the latter suggesting an affinity with Timiskaming Formation conglomerates in the Timmins (Porcupine) Mining District.

Metasedimentary domains south of Windigokan Lake also contain polymictic conglomerate, feldspathic and quartzose sandstone, wacke, siltstone, minor argillite, and hematitic iron formation.

Felsic to intermediate pyroclastic rocks and flows occur in the north part of the property and are fault-bounded, with mafic metavolcanic rocks across the Paint Lake Fault. They consist of tuff breccia, pyroclastic breccia and tuff, and massive to porphyritic rhyolite flows.

Intermediate to mafic intrusions cut the metavolcanic and metasedimentary rocks in the central part of the Brookbank property. They consist of quartz diorite, diorite, and gabbro. North-trending, flat-lying, locally porphyritic, diabase dykes of Keweenawan age cut the metavolcanic and metasedimentary rocks along the western boundary of the property in Sandra Township and along the western boundary of Irwin Township.

The Brookbank property is transected by an east–west trending zone of extensive heterogeneous brittle and ductile deformation and hydrothermal alteration, which is referred to as the "Brookbank shear zone" (Figure 7-16). The deformation is locally in excess of one kilometre wide and consists of anastomosing bands of intense fissile shearing, quartz veining, and fracturing, with associated ductile deformation around domains of less deformed metavolcanic and metasedimentary rocks. The deformation can be traced for a minimum of 10 km along strike through Irwin Township and remains open in either direction.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 7-15: Brookbank Property Geology
7.5.2.2 Mineralization

The 6.5 km-long Brookbank shear zone hosts the Brookbank deposit and numerous other targets including Cherbourg and Foxear (Figure 7-16). The deposits occur along lithological contacts between mafic volcanics and metasediments.

Other areas of gold mineralization are present in one or more of the localized deformation bands within the hanging wall mafic volcanics, which are generally parallel to the Brookbank main zone within the Brookbank shear-zone structure.

The zones of mineralization at Brookbank, Cherbourg, and Foxear occur within one of several bands of intense deformation and hydrothermal alteration at or near the contact between domains of mafic flows and polymictic conglomerates. Hydrothermal alteration accompanying the mineralization consists of silicification, carbonatization, sericitization, chloritization, hematization, and sulphidation. This alteration is commonly marginal to the mineralized quartz-carbonate veins, fractures, and stockworks, and may exceed 50 m wide locally.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 7-16: Exposure of the Brookbank Mineralized Corridor showing Intense Hydrothermal Alteration
Source: Murahwi et al. 2013.

Mineralogical studies indicate that the precious metal mineralization consists of gold-silver particles with an approximate gold-to-silver ratio of 80:20. The gold occurs primarily as late fracture-controlled mineralization. The mineralization forms elongated lenticular particles associated with grain boundaries and possibly crystallographic planes. The gold generally consists of fine-grained free-gold particles, although there is very little visible gold (VS) even in areas of plus 30 g/t Au assays. Gold values are highest in the quartz–carbonate veinlets/stringers.

Sulphide mineralization (pyrite and minor chalcopyrite) is also present within the sheared host rock and quartz veinlets.

7.5.3 Key Lake Deposit

7.5.3.1 Local Geology

The Key Lake deposit is located within the Beardmore–Geraldton Greenstone Belt of the Wabigoon Subprovince. The project area is within the southern metasedimentary sub-belt on the southern limb of a west-plunging syncline. The mineralized zone at Key Lake is 550 m to 800 m northeast of the Bankfield–Tombill Fault and diverges from it toward the west. It is approximately 2.5 km south of the contact with the central metavolcanic sub-belt.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Metagreywacke is the predominant rock type in the area and occurs in a series of turbidites. A thick section of fine- to coarse-grained, altered wacke hosts most of the gold mineralization. A bed with granule- to pebble-sized clasts may be a matrix-supported metaconglomerate or a vitric lapilli tuff. Magnetite-rich argillite occurs to the north and south of the mineralized zone. BIFs occur further north.

The metasedimentary rocks have been intruded by one or more thin (0.5 m to 3 m) porphyritic aphanitic felsic dykes, which are spatially related to gold mineralization and are a useful marker horizon. Gabbro and diorite dykes occur in some areas, and Proterozoic diabase dykes crosscut all other rock units.

Figure 7-17 illustrates the interpreted geology taken from Placer Dome Exploration maps and is based on magnetics survey data and drill cores from approximately 18,300 m drilling (Burk 2019a)."

#### Figure 7-17: Generalized Geology of the Key Lake Property
![](fig7_17.jpg)

Source: Burk 2019b

7.5.3.2 Mineralization

Gold occurs in altered metagreywacke (arkose), felsic dykes, and thin veins cutting these rocks. Gold-bearing altered rocks typically have more than trace amounts of pyrite or arsenopyrite. Mason and White (1986) reported sphalerite and silver. Accessory chalcopyrite has been identified in some holes. A variety of veins are present, including quartz with angular bits of white carbonate typically along vein margins, white and grey massive quartz, and dark-grey veinlets usually less than 3 mm thick composed of quartz or very fine-grained arsenopyrite. Visible gold occurs in veins in both metagreywacke and felsic dykes, but is not common and rarely occurs in wall rock.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Alteration occurs within and extends beyond the zone of gold mineralization. Widespread dolomite and ankerite alteration was detected by staining (Gasparetto and Stevenson 1996).

Zones of greenish, brownish, and rarely yellowish sericitization are more limited and envelop all but a small fraction of the gold mineralization. Silicification is more limited still and is a very good indicator of gold mineralization. However, a significant proportion of the gold mineralization does not occur in silicified rocks.

Two examples of mineralization observed on the Key Lake Deposit are shown in Figure 7-18 and Figure 7-19."

#### Figure 7-18: Example of Fracture-Controlled Pyrite Mineralization in Sericite-Silica Arkosic Wacke, 0.54 g/t Au
![](fig7_18.jpg)

Source: Equinox 2026.

#### Figure 7-19: Example of Sericite-Altered Quartz-Feldspar Porphyry, 7.75 g/t Au
Source: Equinox 2026.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

7.5.4 Kailey Deposit

7.5.4.1 Local Geology

The Kailey deposit is located at the former Little Long Lac gold mine, about 1.7 km north of the Hardrock Mineralized Corridor. The local geological setting described in Section 7.2 for the Geraldton area is applicable to the Kailey property. It lies within a broad synclinal belt of greywacke, slates, conglomerates, and iron formations that extend westwards to Lake Nipigon. The sediments overlie a thick series of lavas, and both are intruded by igneous rocks of various ages and types. At Little Long Lac gold mine, the sediments follow a westerly pitching drag fold on the northern limb of the syncline (Figure 7-20). Subsequent to the folding, east–west zones of shearing developed and formed channel ways for gold-bearing solutions.

#### Figure 7-20: Kailey Deposit Geology
Source: Dorval et al. 2024

Deposit-forming quartz veining is localized along an N70E-striking, sub-vertical axial planar shear structure within a west-plunging antiformal fold that is part of a Z-shaped drag fold developed on the northern limb of the west-plunging Barton Bay Syncline. The closure of this antiformal fold is obscured by the waters of Barton Bay and Lake Kenogamisis (Little Long Lac). The No. 9 vein is also controlled by an axial planar fracture that parallels the main lode. The uniform, massive nature of the arkose unit favoured the development of through-going fractures (Burk 2019b).

A three-dimensional view of the various mineralization and host units is shown in Figure 7-21."

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 7-21: 3D View of the Kailey, North, South, and No. 9 Vein Mineralization with the Folded Arkosic Host Unit
Source: Dorval et al. 2024

7.5.4.2 Mineralization

The main zone of mineralization typically consists of two parallel quartz veins, 2 cm to 20 cm thick, with sheared arkose at their margins and separated by 100 cm to 150 cm of fractured arkose containing multiple quartz stringers; the larger veins pinch and swell but are remarkably continuous along strike and down plunge.

The Kailey Zone is a shallow and low-grade mineralized domain north of the historical Main Vein. The south limb of the zone appears to represent the upper extension of the North orebody (Main Vein). Mineralization is characterized by a network of narrow quartz-carbonate veins and stringers hosted in an altered arkose (sericite + lesser carbonate) containing a lower-grade halo.

The No. 9 Zone is located approximately 150 m south of the Main Vein. It is commonly about 0.5 m to 2 m wide and contains a relatively high-grade shear zone within a lower-grade halo (up to 30 m wide). The lower-grade halo is characterized by strongly altered and moderately sheared arkose.

Mineralization is accompanied by predominantly pyrite, arsenopyrite, and minor base metal sulphides. Scheelite is also present in varying degrees."

7.5.5 Magnet Mine

7.5.5.1 Geology

The geology of the mine consists of metasediment, mostly greywacke with interbeds of iron formation and conglomerate, striking N290° and dipping 75° to 80°. Intrusive rocks consist of dykes and sill-like masses of diorite and porphyry, and younger diabase dykes cutting across the formations (Pye 1952). The two deposits, striking N300° to N315°, consist of lenticular quartz veins and accompanying veinlets predominantly in sheared greywacke. The Magnet vein zone, with an average strike of N285° and a near-vertical dip, was developed over a maximum length of about 1,300 ft (396.2 m). The leaner North zone, 50 ft to 100 ft (15.2 m to 30.5 m) to the north, strikes N280° and dips vertically.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

7.5.5.2 Mineralization

The deposits at the Magnet mine consist chiefly of quartz with small amounts of carbonate and subordinate sulphides. The metallic constituents, which seldom constitute more than 5% of the mineralization, are arsenopyrite, pyrite, pyrrhotite, chalcopyrite, sphalerite, galena, and gold (Mason and White 1986)."

7.5.6 Bankfield Mine

7.5.6.1 Geology

The geology of the Bankfield mine consists of greywacke with bands of conglomerate, slate, and iron formation striking N290° to 300° and dipping 75° to 80° (Pye 1952). The rocks have been intruded by diorite and quartz porphyry, and ultimately by a 200 ft (61.0 m)-wide diabase dyke that runs parallel to a strike fault near the mine workings. The main mineralized horizon has a N275° to N288° strike and dips 70° to 78° to the north, with a length of approximately 2,000 ft (610 m) and average width of 7 ft (2.1 m) that extends into the adjacent Tombill Property. The mineralization is associated with a sheared, brecciated, and highly silicified zone near a contact between the sediments and a porphyry–diorite intrusion."

7.5.6.2 Mineralization

The deposits at the Bankfield Mine consist mainly of sheared and silicified greywacke and porphyry, mineralized with sulphides and small amounts of gold, and are cut by numerous "opalescent" grey quartz veins. The reported metallic minerals are arsenopyrite, pyrite, pyrrhotite, sphalerite, chalcopyrite, galena, and ilmenite.

7.5.7 Viper Property Geology

The Viper Property is located within the Beardmore–Geraldton Greenstone Belt at the junction of the Central Meta Volcanic Unit and the Southern Meta Sedimentary Unit, an area characterized by intense deformation. The two units have been folded together in a manner that is comparable to the complex refolding documented at the Hardrock Property.

The Central Meta Volcanic Unit is dominated by massive and pillowed basaltic to andesitic flows that show geochemical features typical of mid ocean ridge basalts. These volcanic rocks are interlayered with narrow bands of sedimentary and tuffaceous material. Relative to the southern volcanic assemblage, this unit contains thicker accumulations of pyroclastic deposits and abundant large amygdules, pointing to volcanic activity in shallow water or subaerial settings (Kresz and Zayachivsky 1991). The volcanic package is mainly composed of calc alkaline andesites and dacites, with trace element and rare earth element (REE) signatures that indicate formation within an emergent arc setting above a subduction zone (Tomlinson et al. 1996). Crosscutting these rocks is a suite of younger, north–south oriented diabase dykes.

The Southern Meta Sedimentary Unit comprises both clastic and chemical sedimentary rocks. Thin (<5 m) horizons of polymictic conglomerate appear within a thick succession of feldspathic sandstone, which is interbedded with siltstone and argillite. Banded iron formation, although limited in extent, occurs as magnetite rich laminae and jasper hematite layers forming 3 m to 30 m thick intervals interlayered with green argillite, siltstone, and sandstone. Near the core of the folded sedimentary sequence lies a sizeable felsic porphyry intrusion. The porphyry body exhibits the same folding as its host rocks and is interpreted to be only marginally younger than the surrounding metasediments.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Figure 7-22 presents the Viper property geology.

#### Figure 7-22: Geology of the Viper Property
![](fig7_22.jpg)

Source: Cleland 2015

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

8.0 Deposit Types

This section is excerpted from Dorval et al. (2024), which is excerpted from previous Technical Reports (Gignac et al. 2016; 2021) and updated, where noted, with additional context to reflect observations from recent academic research and ongoing exploration activities.

8.1 Hydrothermal Iron Formation-Hosted Gold Deposits

The gold ore bodies at the MacLeod–Cockshutt mine are examples of BIF-hosted gold deposits. Other well-known Canadian examples include the Central Patricia mine, Ontario, and the Lupin mine, Northwest Territories. In these types of deposits, ductility contrasts between the iron formation units and enclosing sedimentary units create structural traps that encourage the flow of hydrothermal fluids. The iron formation also acts as a chemical trap, precipitating sulphur, arsenic, and attendant precious metals from the hydrothermal fluids. In Archean terranes, this usually occurs in a brittle-ductile structural regime, depositing mesothermal mineralization. Quartz-carbonate veins and sulphide replacement zones are common. However, it should be noted that the bulk of the iron formation-hosted mineralization at Hardrock occurs within the interbedded wacke and argillite. This suggests that during deformation, the iron formation deformed ductilely, while the wacke units were more brittle. Alteration includes the addition of silica, potassium, carbon dioxide, sulphur, ± arsenic, and the depletion of calcium and magnesium. This is manifested in the rock as quartz-carbonate veining, silicification, or semi-massive to massive sulphides (pyrite, pyrrhotite ± arsenopyrite) surrounded by a halo of sericite–carbonate–pyrite alteration.

The following subtype descriptions are excerpted and slightly modified from Gignac et al. (2016), which quotes from Kerswill (1993).

8.1.1 Non-Stratiform Type

In non-stratiform deposits, gold is restricted to late structures (quartz veins or shear zones) or sheared sulphide BIF immediately adjacent to such structures. Mineralization is confined to discrete, commonly small shoots separated by barren (gold- and sulphide-poor) oxide BIF. Mineralized rocks are generally less deformed than associated rocks. Iron-sulphide minerals are, in many cases, relatively undeformed and unmetamorphosed. Pyrite or sheared pyrrhotite have clearly replaced other pre-existing iron-rich minerals, notably magnetite. Arsenic-bearing minerals are common, but not always present. When present, a strong positive correlation generally exists between gold and arsenic. Alteration is typical of that associated with mesothermal vein gold deposits. Mineralization is relatively silver-poor, and gold grains generally have gold to silver ratios of >8.0. Non-stratiform deposits are relatively common, typically small, and difficult to evaluate and mine compared with stratiform deposits.

Non-stratiform deposits contain sulphide-rich alteration zones immediately adjacent to late structures and are similar to mesothermal vein-type gold deposits. Late quartz veins or shear zones are present in most known BIF-hosted gold deposits. The distributions of gold-bearing veins and sulphide-rich zones are commonly controlled by fold structures. Major faults (breaks) of regional scale have been recognized near many non-stratiform deposits.

Irregular, massive lenses of sulphides and quartz occur in a folded series of greywacke and iron formations in the Hardrock and MacLeod–Cockshutt mines (Horwood and Pye 1951). These massive replacement lenses (up to 65% sulphides) cut the z-folded iron formation and are related to quartz-carbonate veins up to 0.6 m wide. Veins are usually barren of gold mineralization except where they contain sulphides, consisting primarily of pyrite, arsenopyrite, and pyrrhotite. Mineralization is preferentially concentrated in the wall rocks outward from the quartz veins, and ore is locally banded due to the selective sulphide replacement of the less-competent wacke laminae in the iron formation.

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| 8-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

At the Greenstone Mine, examples of this type of deposit are the North Zones, as well as parts of the F, F2, and Central Zones (Gignac et al. 2021)."

8.1.2 Orogenic Quartz-Carbonate Vein Deposits

Orogenic "quartz-carbonate vein deposits occur as quartz and quartz-carbonate veins, with valuable amounts of gold and silver in faults and shear zones within deformed terranes of ancient to recent greenstone belts commonly metamorphosed at greenschist facies (Dubé and Gosselin 2007). Greenstone-hosted quartz-carbonate vein deposits are a subtype of orogenic gold deposits (Poulsen et al. 2000) (Figure 8-1). They are also known as mesothermal or orogenic gold deposits. They consist of simple to complex networks of gold-bearing, laminated, quartz-carbonate fault-fill veins in moderately to steeply dipping, compressional brittle-ductile shear zones and faults, with locally associated extensional veins and hydrothermal breccias. They can coexist regionally with iron formation-hosted vein and disseminated deposits, as well as with turbidite-hosted quartz-carbonate vein deposits (Figure 8-2). They are typically distributed along reverse-oblique crustal-scale major fault zones, commonly marking the convergent margins between major lithological boundaries such as volcano-plutonic and sedimentary domains. These major structures are characterized by different increments of strain and consequently, several generations of steeply dipping foliations and folds resulting in a complex geological collisional setting.

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| 8-2 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 8-1: Setting of Greenstone-Hosted Gold Deposits
![](fig8_1.jpg)

Source: Modified from Robert et al. 2007.

The crustal-scale faults are thought to represent the main hydrothermal pathways toward higher crustal levels; however, the deposits are spatially and genetically associated with higher-order compressional reverse-oblique to oblique brittle-ductile high-angle shear zones commonly less than 5 km away and best developed in the hanging wall of the major fault (Robert 1990). Brittle faults may also be the main host to mineralization, as illustrated by the Kirkland Lake Main Break, a brittle structure hosting the 25 Moz Au Kirkland Lake deposit.

Stockworks and hydrothermal breccias may represent the main host to the mineralization when developed in competent units such as granophyric facies of gabbroic sills. Due to the complexity of the geological and structural setting and the influence of strength anisotropy and competency contrasts, the geometry of the vein network varies from simple (such as the Silidor deposit, Canada) to more commonly complex with multiple orientations of anastomosing or conjugate sets of veins, breccias, stockworks and associated structures (Dubé et al. 1989; Hodgson 1989; Robert et al. 1994; Robert and Poulsen 2001).

Economic grade mineralization also occurs as disseminated sulphides in altered (carbonatized) rocks along vein selvages. Deposit shoots are commonly controlled by (i) the intersections between different veins or host structures, or between auriferous structures and an especially reactive or competent rock type such as iron-rich gabbro (geometric ore shoot); or (ii) the slip vector of the controlling structures (e.g., kinematic ore shoot). For laminated fault-fill veins, the kinematic ore shoot will be oriented at a high angle to the slip vector (Robert et al. 1994; Robert and Poulsen 2001).

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| 8-3 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

At the district scale, the greenstone-hosted quartz-carbonate-vein deposits are associated with large-scale carbonate alteration commonly distributed along major fault zones and associated subsidiary structures (Dubé and Gosselin 2007). At the deposit scale, the nature, distribution and intensity of the wall-rock alteration are largely controlled by the composition and competence of the host rocks and their metamorphic grade. Typically, the alteration haloes are zoned and characterized at greenschist facies by iron carbonatization and sericitization with sulphidation of the immediate vein selvages (mainly pyrite and less commonly arsenopyrite).

The main gangue minerals are quartz and carbonate, with variable amounts of white micas, chlorite, scheelite, and tourmaline. The sulphide minerals typically constitute less than 10% of the mineralization. The main ore minerals are native gold with pyrite, pyrrhotite, and chalcopyrite without significant vertical zoning (Dubé and Gosselin, 2007).

The structurally controlled, high-grade veins spatially related to the Hardrock Porphyry in the Hardrock and MacLeod–Cockshutt mines (now Greenstone Mine) are like quartz–carbonate–sericite veins that host gold within many gold camps in Ontario (e.g., Porcupine, Kirkland Lake, and Red Lake). The veins related to the Hardrock Porphyry do not host significant tonnages of ore from past production despite their locally high grades. Numerous thin, gold-bearing quartz stringers occur along shear fractures in zones of faulting, folding, and shearing at the contact with wacke and Hardrock Porphyry. When stringers merge, elongate replacement or blow-out lenses up to 1 m long are formed. Normally, they occur as thin, highly contorted veinlets that follow both shear and tension fractures and locally have a gash-like character. Carbonate (ankeritic dolomite), sulphides (pyrite, pyrrhotite, arsenopyrite, and chalcopyrite) and tourmaline are found to be associated with the quartz. Zones A through H were of this type (Horwood & Pye, 1951).

The greywacke (turbidite)-associated mineralization is typically characterized by narrow, often sheeted, millimetre- to centimetre-scale veins with attendant, but highly variable degrees of alteration. This style of mineralization forms wide, low-grade zones in the former Hardrock, MacLeod–Cockshutt and Mosher mines. The F Zone was the most spectacular zone, accounting for an ore body of some 10,000,000 tonnes at 0.15 oz/st Au (Macdonald 1983). The F Zone produced the bulk of the tonnage that came from these mines from the 1950s to 1970.

Several DDHs from the 2021 drilling program intersected significant widths of the F Zone-style mineralization. Figure 8 2 is an example of sheeted quartz-carbonate veinlets within weakly to moderately sericitized and carbonatized greywacke containing 1% to 5% fine-grained arsenopyrite.

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| 8-4 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 8-2: Sheeted Quartz-Carbonate Veins Hosted in Greywacke, DDH-19-54
Source: Equinox 2026.

Other examples of Greenstone-hosted quartz-carbonate vein deposits on the belt include the Key Lake deposit and Kailey deposit (former Little Long Lac gold mine).

Key Lake consists of an altered and mineralized felsic dyke in contact with sericitized and mineralized arkose. Higher grades appear to plunge to the west, following the plunge of folds in the area. This is a good example of orogenic stockwork quartz-carbonate with disseminated gold-style mineralization.

Kailey (the Little Long Lac deposit) occurs in the large Z-shaped minor fold on the north limb of the Barton syncline. The fold plunges 45° to 55° to the west. Numerous smaller flexures are superimposed, some of which are believed to have been formed during a later period of deformation. The deposit consists of mainly parallel quartz veins and stringers within fracture zones in massive arkose. For the most part, the sulphides are confined to narrow selvages and books of altered wall rock along and within the individual veins, although small amounts are commonly enclosed by the vein quartz itself. The quartz veins have narrow selvages and occur at centimetre-scale. The veins are highly sheared and sericitized arkose with small amounts of disseminated sulphides, consisting mainly of pyrite and arsenopyrite.

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| 8-5 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

In 1935, Bruce proposed three types of gold deposits for the Little Long Lac gold mine area:

&nbsp;&nbsp;&nbsp;&nbsp;· Shear zones in sedimentary rocks, along which narrow, but closely spaced quartz veins occurring in parallel planes

&nbsp;&nbsp;&nbsp;&nbsp;· Irregular veins of quartz accompanied by pyrite, filling fractures in iron formation

&nbsp;&nbsp;&nbsp;&nbsp;· Zones of pyritization and silicification in both in sedimentary and intrusive rocks.

The most favourable sediments for deposits of the first type are the belt of Timiskaming-style sediments of massive and thickly bedded greywacke or arkose that lies between the two northern bands of iron formation. The veins of the Little Long Lac mine are within this belt and are almost exclusively hosted within the Arkose unit (Gignac et al., 2021).

The Key Lake and Kailey deposits fit largely within the modern geological understanding of the region (Toth et al, 2013, 2014a, 2014b), the Key Lake and Kailey deposits.

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| 8-6 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

9.0 Exploration

Since exploration began on the various projects contained on the Hardrock, Brookbank, and Viper Properties, approximately 90% of the exploration expenditures have been on diamond drilling. The details of the drilling are described in Section 10.0 Drilling.

The remaining exploration consisted of ground and airborne geophysics, line cutting, overburden stripping and trenching, and surface prospecting, the details of which have been fully discussed in the previous Technical Reports released by Premier Gold Mines and previous operators and are summarized in Section 6.0 History of this Technical Report. No additional exploration work other than drilling has been carried out on the Hardrock Property since publication of the 2024 Technical Report (Dorval et al. 2024).

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| 9-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

10.0 Drilling

The QP has reviewed the previous work completed by GMS in preparing the 2024 Technical Report (Dorval et al. 2024) and confirms the accounting of drilling activities at Hardrock, Key Lake, and Kailey deposits up to June 2024 is reliable and accurate. The following sections contain updated statistics and descriptions of drilling activities completed between July 2024 and August 2025; portions of the discussion are taken directly from previous Technical Reports and referenced accordingly.

10.1 Greenstone Mine

Historical exploration and production drill testing in the vicinity of Greenstone mine was primarily by wireline rigs using diamond-faced bits in a variety of coring diameters. Reverse-circulation overburden (RCO) and sonic drill testing of basal till were also undertaken during early reconnaissance exploration, while more recent RCGC has delineated and tested mineral domains during later pre-production and production phases. A summary of all drilling activity since 1987 is provided in Table 10-1.

#### Table 10-1: Greenstone Mine Drilling History Since 1987

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| **Year Drilled** | **No. Drill Holes** | **Metres** | **Core Size** | **Operator** |
| 1987 | 37 | 6219 | BQ | Lac Minerals Ltd and Asarco Exploration of Canada Ltd. |
| 1988 | 40 | 9053 | BQ | Lac Minerals Ltd and Asarco Exploration of Canada Ltd. |
| 1993 | 28 | 5125 | BQ | Lac Minerals Ltd and Asarco Exploration of Canada Ltd. |
| 1993 | 106 | 1483 | RCO | Lac Minerals Ltd and Asarco Exploration of Canada Ltd. |
| 1994 | 21 | 305 | Sonic | Lac Minerals Ltd and Asarco Exploration of Canada Ltd. |
| 1994 | 17 | 396 | RCO | Lac Minerals Ltd and Asarco Exploration of Canada Ltd. |
| 1994 | 78 | 11962 | BQ | Lac Minerals Ltd and Asarco Exploration of Canada Ltd. |
| 1995 | 7 | 1024 | BQ | Lac Minerals Ltd and Asarco Exploration of Canada Ltd. |
| 1996 | 24 | 3241 | Unknown | Lac Properties Inc and Cyprus Canada Inc. |
| 1997 | 1 | 185 | BQ | Lac Properties Inc and Cyprus Canada Inc. |
| 2000 | 1 | 370 | BQ | Lac Properties Inc. |
| 2002 | 16 | 2117 | BQ | Lac Properties Inc. |
| 2009 | 346 | 91802 | NQ | Premier Gold Mines Limited |
| 2010 | 279 | 114611 | NQ | Premier Gold Mines Limited |
| 2011 | 204 | 107413 | NQ | Premier Gold Mines Limited |
| 2012 | 125 | 68549 | NQ | Premier Gold Mines Limited |
| 2013 | 297 | 139383 | NQ | Premier Gold Mines Limited |
| 2014-2015 | 133 | 44097 | NQ | Premier Gold Mines Limited |
| 2018 | 405 | 19995 | RCGC | Premier Gold Mines Limited |
| 2019 | 76 | 5946 | RCGC | Premier Gold Mines Limited |
| 2019 | 54 | 12108 | NQ | Premier Gold Mines Limited |
| Jan 2022-Sep 2022 | 67 | 4189 | RCGC | Greenstone Gold Mines GP Inc<br>Joint Venture Equinox-Orion |
| Jan 2022-Sep 2022 | 56 | 15421 | NQ | Greenstone Gold Mines GP Inc<br>Joint Venture Equinox-Orion |
| Sep 2022-Jun 2024 | 496 | 28002 | RCGC | Greenstone Gold Mines GP Inc<br>Joint Venture Equinox-Orion |
| Jul 2024-Aug 2025 | 1339 | 79878 | RCGC | Equinox Gold Corp. |
| 2025 | 21 | 6054 | NQ | Equinox Gold Corp. |
| **Total** | **4273** | **780685** |  | Equinox Gold Corp. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Diamond drill holes completed in 2025 are not included in the current Mineral Resource estimate due to incomplete or pending analytical results at the data cut-off date of August 12, 2025<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. RC grade control drilling statistics from January 2024 to present is separated by effective dates of the 2024 Technical Report (Dorval et al. 2024) and this Report; drilling until June 2024 was included in the 2024 Technical Report<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Programs completed before 2021 were conducted by previous operators; programs completed between 2021 and June 2024 were conducted by Greenstone Gold Mines on behalf of the Equinox-Orion Joint Venture; and programs completed since July 2024 were conducted under Equinox. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Diamond drill holes completed in 2025 are not included in the current Mineral Resource estimate due to incomplete or pending analytical results at the data cut-off date of August 12, 2025<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. RC grade control drilling statistics from January 2024 to present is separated by effective dates of the 2024 Technical Report (Dorval et al. 2024) and this Report; drilling until June 2024 was included in the 2024 Technical Report<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Programs completed before 2021 were conducted by previous operators; programs completed between 2021 and June 2024 were conducted by Greenstone Gold Mines on behalf of the Equinox-Orion Joint Venture; and programs completed since July 2024 were conducted under Equinox. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Diamond drill holes completed in 2025 are not included in the current Mineral Resource estimate due to incomplete or pending analytical results at the data cut-off date of August 12, 2025<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. RC grade control drilling statistics from January 2024 to present is separated by effective dates of the 2024 Technical Report (Dorval et al. 2024) and this Report; drilling until June 2024 was included in the 2024 Technical Report<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Programs completed before 2021 were conducted by previous operators; programs completed between 2021 and June 2024 were conducted by Greenstone Gold Mines on behalf of the Equinox-Orion Joint Venture; and programs completed since July 2024 were conducted under Equinox. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Diamond drill holes completed in 2025 are not included in the current Mineral Resource estimate due to incomplete or pending analytical results at the data cut-off date of August 12, 2025<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. RC grade control drilling statistics from January 2024 to present is separated by effective dates of the 2024 Technical Report (Dorval et al. 2024) and this Report; drilling until June 2024 was included in the 2024 Technical Report<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Programs completed before 2021 were conducted by previous operators; programs completed between 2021 and June 2024 were conducted by Greenstone Gold Mines on behalf of the Equinox-Orion Joint Venture; and programs completed since July 2024 were conducted under Equinox. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Diamond drill holes completed in 2025 are not included in the current Mineral Resource estimate due to incomplete or pending analytical results at the data cut-off date of August 12, 2025<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. RC grade control drilling statistics from January 2024 to present is separated by effective dates of the 2024 Technical Report (Dorval et al. 2024) and this Report; drilling until June 2024 was included in the 2024 Technical Report<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Programs completed before 2021 were conducted by previous operators; programs completed between 2021 and June 2024 were conducted by Greenstone Gold Mines on behalf of the Equinox-Orion Joint Venture; and programs completed since July 2024 were conducted under Equinox. |

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| 10-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

10.1.1 Core Drilling

Conventional wireline core drilling has been undertaken by several drilling contractors:

&nbsp;&nbsp;&nbsp;&nbsp;· Chibougamau Diamond Drilling Ltd. (2007–2013)

&nbsp;&nbsp;&nbsp;&nbsp;· Major Drilling Group Internation Inc. (2013–19)

&nbsp;&nbsp;&nbsp;&nbsp;· Forage M3 Drilling Services Inc. (2020)

&nbsp;&nbsp;&nbsp;&nbsp;· FTE Drilling Inc. (2025)

Core drilling prior to 2002 produced BQ-diameter (36.5 mm) core, while all drilling since has been NQ-diameter (47.6 mm).

The first time the core is handled is at the drill rig by the driller helper who takes the core from the core tube and places it in core boxes. A wooden block is placed in the core box at the end of every core tube interval, or run, typically 3 m in length. Once a core box is full, the helper wraps the box with tape or wire depending on the preference of the drilling company. At the end of each shift, the core is delivered to the core shack. GGM personnel remove the wire or tape and bring the boxes into the logging facility.

Collar locations for 55% of drill holes completed prior to 2013 were located via hand-held Global Positioning System (GPS) in UTM coordinates (Zone 16N; NAD 83). In all, 55% of the holes drilled prior to 2013 have been surveyed using a hand-held GPS receiver.

Since 2018, the site surveyor or geologists have spotted the RCGC, blastholes, and diamond drill holes using a Trimble RTK system using the coordinates planned by GMS or GGM. In the event of unstable or poor ground access, the hole is moved to accommodate a safer drilling position. The drill is aligned to the proper azimuth and dip using a Reflex Astronomic Position System (APS) or a Devico DeviAligner. Once holes are drilled, casings are typically left in the ground and the precise drill hole collar, azimuth, and UTM coordinates are confirmed by placing an APS or DeviAligner unit on the drill casing. A steel cap is placed on the casing and the hole collar is subsequently surveyed using a Trimble RTK.

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| 10-2 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Between 2013–2024, downhole surveys were taken by the drilling contractor every 30 m using a gyroscope unit (REFLEX EZ-Gyro) to record the easting, northing, and elevation of the drill collars.

The 2025 diamond drilling program collected 3 m spaced surveys using a Devico DeviGyro instrument that logged and transferred the data to the secure cloud-based platform DeviCloud.

10.1.2 Core Marking and Logging

After core has been placed on the logging table, technicians rotate the core so that all the pieces slant in one direction and form as complete a representation of the original core as possible. The core in each box is measured and marked every metre, then the core box is labelled using a metal tag denoting hole ID and the core interval. In programs with oriented core, core is aligned using an angle iron to assess the quality of orientation marks from the drillers. An orientation line would be drawn to represent the bottom of the core, which is aligned in the box so as to have the orientation line visible in the bottom portion of the box. If there are no orientation line, the technician would employ their best effort to rotate the core so a consistent face is showing.

The length of core retrieved from each core tube is compared relative to the metres drilled by the length of the tube. A core recovery percentage is logged for each core tube interval, where the length of core retrieved is divided by the length of the tube. Technicians also check that distances are correctly indicated on the wooden blocks placed every 3 m. If there is a mistake on any of the blocks, the Project Manager is informed, and the drill foreman is brought in to rectify the issue.

Rock quality designation (RQD) calculations are performed either by geologists or the geological technicians, where any natural breakage under 10 cm is recorded.

Logging of diamond drill core was performed on site by GGM staff exploration geologists and geologists contracted to GGM. Logging before 2025 was typically recorded by hand onto paper or a notebook and transcribed later into LogChief software, while the 2025 program was logged directly in Seequent's MX Deposit software. Geologists note intervals of varying lithology, accessory minerals, the type and style of any veins (e.g., quartz-carbonate veins), the type and habit of sulphide mineralization (pyrite, arsenopyrite, pyrrhotite), or whether the unit appears folded, and relevant structural measurements (e.g., bedding, foliation, fracture or vein orientation, fold axes). Visible gold is also noted, if present.

In holes with orientation lines, alpha and beta measurements of geological features, such as lithological and bedding contacts, veins and foliations, are collected using a goniometer tool to produce a corresponding strike and dip of the feature.

Since 2025, magnetic susceptibility was collected using the MPP susceptibility meter from GDD Instruments (Quebec City) in "Continuous Mode". These readings can be completed before or after logging, prior to cutting.

Core intervals deemed appropriate for sampling are demarcated by the geologist using a wax marker on the surface of the core and have a sample tag placed in the core tray at the beginning of the interval. The sample tag ID and interval is subsequently recorded in the logging software. The geologist will also extend samples beyond the intervals believed to contain mineralization ("shoulder" samples) to ensure the complete encapsulation of the potential mineralized zone.

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| 10-3 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

The final step of the core process is to take photos of the core after all geotechnical, logging and sampling identification is completed before the core is cut. This serves as a record of the full core, where all information written on the core and core blocks are visible in the photo. Core photographs are uploaded to and archived by Seequent's Imago platform, allowing geologists to query core photographs imagery within 3D modelling programs such as Leapfrog Geo.

10.1.3 Reverse Circulation Drilling

RC drilling is conducted by mobile rigs equipped with conventional, air-assisted, down-the-hole (DTH) hammer mechanisms and a Metzke 1200 cyclone with a three chute cone splitter. The contractors who have undertaken this work most recently are:

&nbsp;&nbsp;&nbsp;&nbsp;· NPLH Drilling (2018-19, 2024-present)

&nbsp;&nbsp;&nbsp;&nbsp;· FTE Drilling (2021, 2023)

&nbsp;&nbsp;&nbsp;&nbsp;· FORACO Canada Ltd. (2022)

A member of the geology team will load all designed collar coordinates into a Trimble GPS tool and provide copies of this information to the drilling supervisor. Wooden stakes labeled with the hole ID, azimuth, dip and length are prepared. Once located in the field with the GPS unit, the precise collar location is spray painted on the ground, followed by placement of a spray-painted rock and the labeled stake.

The drill operator uses a DeviAligner tool to position the rig in accordance with the planned azimuth and dip. Upon completion of the hole, a DeviGyro tool surveys the length of it, obtaining a reading every 5 m.

10.1.4 Reverse Circulation Chip Logging

Logging of RC grade control chips at Greenstone is completed on an ad hoc basis, where documenting and confirming the lithology, mineralization and alteration of the subsurface is deemed necessary by the Senior Mine Geologist, or when metallurgical samples are required. A set of two chip trays are prepared for each hole to contain representative dry and wet samples of each interval, where the dry chips are stored in a designated location and the wet chips are logged.

The source material for RC grade control samples is from the primary sample bag collected in the field, while RC metallurgical samples are sourced from the third 500 g sample bag collected specifically for chip tray logging.

The RC chip bags are securely loaded in pickup trucks and transported along project and regional roads to the logging facility.

Once RC samples arrive at the logging facility, a technician ensures that samples are in sequential order on the dispatch bench. Using a printed copy of the hole's corresponding assay table, the technician prepares chip trays by writing in permanent marker on the exterior surface of the lid the RC hole ID, the 'dry' or 'wet' designation, and corresponding "from" and "to" intervals over each compartment.

A clean spoon is used to scoop rock chips from each sample bag into the corresponding compartment of the dry chip tray, filling it. All dry sample chip trays are taken before wet sample trays.

To prepare wet sample trays, a clean spoon is used to scoop rock chips from each sample bag into a rock sieve, where the finer material is sieved into a waste bucket. The remaining sample in the sieve is partially submerged into a bucket of clean tap water and given a light shake until only rock chips remain in the sieve. The wet rock chips are then spooned into the corresponding wet tray compartment and sent to the Mine Geologist for logging.

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| 10-4 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Using a SciOptics fibre optic microscope, the Mine Geologist records lithology, mineralization and alteration information from the chip samples into MX Deposit software.

Magnetic susceptibility of RC samples is collected using a GDD MMP-EM2S+ multi-parameter probe (MPP) set to "Punctual" data collection mode.

10.1.5 July 2024–August 2025 RC Grade Control Program

Between July 2024 to August 2025, a total of 1,339 RC drill holes comprising 79,878 m were drilled to continue delineation of economic mineralization within Phase 1A and Phase 1B pit boundaries. Figure 10-1 illustrates the RC hole collar locations and traces within the pit phases.

#### Figure 10-1: Plan View of RC Grade Control Collars within Phase 1A and Phase 1B Pit Design Boundaries
10.1.6 2025 Diamond Drilling Program

A diamond drilling campaign commenced in May 2025 targeting geologic and structural features throughout the planned Greenstone pit, with emphasis on the near-term (5 year) mining. As of the effective date of this report, 21 diamond drill holes, including two recollared holes, totalling 6,054 m were drilled; the located are presented in Figure 10-2, and Figure 10-3 shows a typical cross-section illustrating lithostructural features encountered. The results of the 2025 drilling were generally consistent with the predicted geological model for Greenstone.

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| 10-5 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

GGM geologists used lithological and structural information collected through this program to complete updates to the geologic model and domain wireframes for the 2025 Mineral Resource estimate. Gold assay results from this program were not available at the time of the August 2025 data cut-off for the Mineral Resource estimate.

#### Figure 10-2: Plan View, 2025 Diamond Drilling within the Outer Footprint of the Final Pit Design
![](fig10_2.jpg)

Note: Section line corresponds to Figure 10-3.

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| 10-6 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 10-3: Vertical Section Looking West of Hole GS25-019 (view clipped +/- 20 m)
![](fig10_3.jpg)

Source: Equinox 2026.

10.2 Other Properties – Brookbank, Kailey, and Key Lake

10.2.1 Drilling Procedures

Diamond drilling was completed from surface using NQ wire-line-stabilized hexagonal core barrels with an 18 in long shell. For deep holes hexagonal core barrels are first used. Wedge cuts were occasionally completed on parent holes in locations where ground conditions were favourable. Hole collars were well marked, with casings generally left in the hole. Core diameter prior to 2000 was BQ and has been NQ on all subsequent programs.

Diamond drilling that informs the Mineral Resource Estimate at Brookbank was completed by the following contractors:

&nbsp;&nbsp;&nbsp;&nbsp;· Major Drilling International Inc. (1999-2006)

&nbsp;&nbsp;&nbsp;&nbsp;· Bradley Bros. Ltd. (2009)

&nbsp;&nbsp;&nbsp;&nbsp;· Northstar Drilling (2012-2013)

&nbsp;&nbsp;&nbsp;&nbsp;· Forage G4 Drilling (2016)

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| 10-7 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Diamond drilling that informs the Mineral Resource Estimates for Key Lake and Kailey was completed by contractors:

&nbsp;&nbsp;&nbsp;&nbsp;· Chibougamau Diamond Drilling Ltd. (2008)

&nbsp;&nbsp;&nbsp;&nbsp;· Bradley Bros. Ltd. (2010)

&nbsp;&nbsp;&nbsp;&nbsp;· Major Drilling International Inc. (2013-2014)

&nbsp;&nbsp;&nbsp;&nbsp;· Forage M3 Drilling Services Inc. (2020)

The drill rigs were mounted on skids and dragged into position using a skidder or bulldozer.

The core was placed in three-row wooden core boxes provided by the contractor. The boxes and depths were labelled by the drill crews. Upon receipt at the Premier core shack, the boxes were labelled with permanent metal tags according to drill-hole number, box number, and metres downhole.

10.2.2 Collar Locations, Orientations, and Downhole Surveys

Collars were located using a cut grid or by using a hand-held GPS receiver. Subsequent to completion, most collars were located using a Trimble GPS survey instrument. Some hole locations are only recorded to the nearest metre, even though more accurate measurements were possible.

In 2007, a Reflex Instruments downhole survey tool provided by the drill contractor was used with surveys typically taken every 50 m. A REFLEX MAXIBORE tool was also used for downhole surveys starting in November 2007. This survey tool was operated by Premier employees and has been used for approximately 95% of the holes since it became available. In May–June 2010, Premier changed to an Icefields Gyro survey tool to achieve more efficient and more accurate survey data. In late 2009 and again in October 2010, a survey determined drill-hole orientations using a gyroscope at surface on casings for 79 historical holes and 310 holes drilled by Premier.

10.2.3 Core Logging and Sampling

The geologist prepared a detailed geological log including lithology, veining, alteration, mineralization, structures (oriented core), surveying, assays (gold and trace elements), recovery and magnetic susceptibility. Magnetic susceptibility was collected every metre downhole using the MPP susceptibility meter from GDD Instruments.

Core was then oriented by technicians and geologists at the logging site using the orientation marks on the drill core to obtain alpha and beta measurements and, ultimately, strike and dip of geological structures.

The geologist then identified and marked the beginning and the end of the sampling intervals. Upon completion of the logging and demarcating the sample intervals, technicians sawed the core longitudinally in half with a diamond saw, except for material which was highly fractured and contained clay minerals, which was divided manually with hammer and chisel. One half of the core was bagged, tagged with a sample number, then sealed; the other half was put back in the core boxes and kept as a reference and check sample in the event that duplicate assays are required. Generally, samples of 1 m length were taken in longer sections of similarly mineralized rocks; however, sample size was reduced to as low as 0.4 m in areas of particular interest, or where lithology and mineralization were distinct.

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| 10-8 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

After the core was logged and sampled, it was permanently stored in core racks at the Magnet mine site or at a site constructed in 2009 on Old Arena Road in Geraldton.

10.2.4 Brookbank

#### Summary of Drilling Campaigns
Since the mid-1940s, numerous drill programs have been carried out on the Brookbank, Cherbourg, and Foxear areas. A summary of all historical drilling programs performed before Equinox are located in Section 6.2 of the current Report and Table 10-2 .

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| 10-9 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 10-2: Summary of Brookbank Property Drilling Programs

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| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Year(s)** | **Company** | **Zone** | **Zone** | **Zone** | **Zone** | **Zone** | **Zone** | **Zone** | **Zone** | **Total** | **Total** | **Total** | **Total** |
| **Year(s)** | **Company** | **Brookbank** | **Brookbank** | **Cherbourg** | **Cherbourg** | **Foxear** | **Foxear** | **Other** | **Other** | **Total** | **Total** | **Total** | **Total** |
| **Year(s)** | **Company** | **No. of Holes** | **Metres** | **No. of Holes** | **Metres** | **No. of Holes** | **Metres** | **No. of Holes** | **Metres** | **No. of Holes** | **Metres** | **No. of Samples** | **Metres Assayed** |
| 1944 | Noranda Exploration | 40 | 1860 | - | - | - | - | - | - | 40 | 1860 | 470 | 575 |
| 1975 | Lynx Canada Exploration | 6 | 376 | - | - | - | - | - | - | 6 | 376 | 87 | 45 |
| 1981 | Metalore Resources Ltd. | 30 | 3569 | - | - | - | - | - | - | 30 | 3569 | 1765 | 2174 |
| 1982 | Metalore Resources Ltd. | 1 | 106 | - | - | 4 | 453 | - | - | 5 | 559 | 116 | 133 |
| 1983 | Metalore Resources Ltd. | 40 | 3785 | 7 | 597 |  |  | - | - | 47 | 4382 | 1646 | 1734 |
| 1984 | Metalore Resources Ltd. | 31 | 9795 | - | - | 14 | 963 | - | - | 45 | 10758 | 1018 | 1063 |
| 1985 | Metalore Resources Ltd. | - | - | - | - | 12 | 1242 | - | - | 12 | 1242 | 65 | 42 |
| 1986 | Metalore Resources Ltd. | 8 | 3499 | 49 | 5101 | - | - | - | - | 57 | 8600 | 586 | 397 |
| 1987 | Hudson Bay Mining | 42 | 19359 | - | - | - | - | - | - | 63 | 25193 | 2723 | 2303 |
| 1987 | Metalore Resources Ltd. | 2 | 560 | 9 | 2487 | 10 | 2787 | - | - | 63 | 25193 | 290 | 183 |
| 1989 | Placer Dome Inc. | 19 | 8354 | 5 | 1538 | 2 | 984 | 3 | 934 | 29 | 11810 | 1197 | 1460 |
| 1993 | Metalore/Ontex | - | - | 6 | 1546 | - | - | - | - | 6 | 1546 | 38 | 29 |
| 1994 | Metalore Resources Ltd. | - | - | 9 | 1109 | 4 | 1376 | - | - | 15 | 2810 | 81 | 65 |
| 1994 | Metalore/Ontex | - | - | - | - | 2 | 325 | - | - | 15 | 2810 | 13 | 7 |
| 1995 | Metalore Resources Ltd. | - | - | - | - | 5 | 2774 | - | - | 5 | 2774 | 44 | 39 |
| 1999 | Ontex Resources Ltd. | 16 | 4738 | 13 | 6706 | 3 | 1295 | - | - | 32 | 12738 | 2082 | 2077 |
| 2000 | Ontex Resources Ltd. | 34 | 17120 | 5 | 1564 | 13 | 4792 | - | - | 52 | 23476 | 2148 | 2185 |
| 2001 | Ontex Resources Ltd. |  |  | 9 | 2523 | 12 | 4530 | - | - | 21 | 7053 | 392 | 324 |
| 2006 | Ontex Resources Ltd. | 14 | 3000 | - | - | - | - | - | - | 14 | 3000 | 870 | 900 |
| 2007 | Ontex Resources Ltd. | 7 | 1208 | - | - | - | - | - | - | 7 | 1208 | 384 | 417 |
| 2008 | Ontex Resources Ltd. | 16 | 5638 | 9 | 3823 | - | - | - | - | 25 | 9461 | 928 | 833 |
| 2009 | Ontex Resources Ltd. | 50 | 23291 | - | - | - | - | - | - | 50 | 23291 | 2575 | 3098 |
| 2011 | Premier | 2 | 1962 | - | - | - | - | - | - | 2 | 1962 | 79 | 88 |
| 2012 | Premier | 3 | 1937 | - | - | - | - | - | - | 3 | 1937 | 431 | 629 |
| 2013 | Premier | 2 | 1393 | - | - | - | - | - | - | 2 | 1393 | 244 | 305 |
| 2016 | GGM | 14 | 6377 | - | - | - | - | - | - | 14 | 6377 | 5152 | 4956 |
| **Total** |  | **377** | **117928** | **121** | **26993** | **81** | **21521** | **3** | **934** | **582** | **167376** | **25424** | **26061** |

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| 10-10 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

A map of all drilling collars in the vicinity of the Brookbank deposit regional targets at Foxear and Cherbourg are shown in Figure 10-4.

#### Figure 10-4: Plan View of Brookbank Deposit Area with all Surveyed and Estimated Diamond Drill Collars
![](fig10_4.jpg)

Note: Section line corresponds to Figure 10-5.

A representative example of surface diamond drilling on the Brookbank property is illustrated by the vertical section in Figure 10-5. Drill holes are oriented as close to orthogonal to the sheared contact between the metaconglomerate and metavolcanic that is the primary host of mineralization at Brookbank.

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| 10-11 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 10-5: Brookbank Deposit – Representative Cross-Section Looking West (view clipped +/- 10 m)
Note: Mineralization is found along the contact between a package of mafic metavolcanics to the south and polymictic conglomerates to the north, resulting in a vertical to steeply south-dipping zone.

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| 10-12 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

10.2.5 Kailey (Little Long Lac)

The description of drilling method, surveying, and core logging procedures described in the previous sections are also applicable to the Kailey deposit. A significant amount of historical information was available and digitized from hard-copy records by GGM in 2019 and 2020. Only the more-recent drilling undertaken by Premier, since 2007, is considered as verifiable and used in the Mineral Resource estimate described below.

#### Drilling Campaigns
In late 2007, Premier focused their drilling program in the area around the historical Little Long Lac mine. Eight holes were drilled approximately 200 m southeast of the old mine headframe. All the holes were oriented N334, and they had as target the undeveloped Vein No. 9. While the mine was in production, this mineralized structure was mined out on Levels 2, 4, and 16. The vein is sub-vertical for about 50 m along strike and steeply dips to the west-southwest at around 60°. Six of the eight drilled holes intercepted the structure, returning anomalous gold values. The initial program also able to discover three additional parallel zones to south of the structure Vein No. 9, which were called Veins No. 10, No. 11, and No. 12.

Premier continued the drilling programs on the Little Long Lac Property area during 2008. The exploration was on two zones, the first target aimed to define mineralization on Veins No. 9, 10, and 11; the second was focused on the newly discovered Kailey Zone. Drilling successfully extended gold mineralization in Veins No. 9 and 10 down plunge.

The Kailey Zone is a low-grade bulk tonnage target proximal and parallel to the historical Little Long Lac gold mine workings. Drilling in the Kailey Zone has identified an area of mineralization characterized by a network of randomly oriented quartz-carbonate veins and stringers with traces of disseminated pyrite and arsenopyrite and visible gold, hosted in an altered arkose (sericite + lesser carbonate). The Kailey Zone has two parallel horizons (K1-North and K2-South) which converge in the central and eastern sections.

In 2011 exploration had a focus on in-fill and step-out drilling proximal to the historical, high-grade resource areas previously mined. The latest drilling programs has demonstrated that the Kailey mineralized zone is a shallow and low-grade potential open pit Mineral Resource. Various drilling programs are summarized in Table 10-3 and illustrated in Figure 10-6 and Figure 10-7.

#### Table 10-3: Summary of the Kailey Property Drilling Programs

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|:---|:---|:---|:---|:---|:---|:---|
| **Year** | **Company** | **Drill-Hole Type** | **Zone—Kailey** | **Zone—Kailey** | **Zone—Kailey** | **Zone—Kailey** |
| **Year** | **Company** | **Drill-Hole Type** | **No. of Holes** | **Metres** | **No. of Samples** | **Metres Assayed** |
| 2007 | Premier | Surface DDH | 8 | 2625.80 | 2525 | 2350.10 |
| 2008 | Premier | Surface DDH | 68 | 25452.40 | 23840 | 23579.90 |
| 2011 | Premier | Surface DDH | 6 | 6520.40 | 1153 | 1613.70 |
| **Total Resource Drill Holes** | **Total Resource Drill Holes** | **Total Resource Drill Holes** | **82** | **34598.60** | **27518** | **27543.70** |

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| 10-13 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 10-6: Plan View of Kailey Deposit Area with All Surveyed and Estimated Diamond Drill Collars
Note: Section line corresponds to Figure 10-7.

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| 10-14 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 10-7: Kailey Deposit – Representative Cross-Section Looking Southwest (view clipped +/- 25 m)
Note: Mineralization is concentrated within the arkose sandstone unit and focused around the antiform fold nose, forming vertical to steeply south-dipping zones.

10.2.6 Key Lake

The description of drilling method, surveying, and core logging procedures described in Sections 10.2.1 to 10.2.3 are also applicable to the Key Lake deposit.

#### Drilling Campaigns
The exploration program by Premier in 2011 was designed to expand the footprint of the Key Lake deposit trend along strike and aimed to test the down-plunge potential of some of the higher-grade gold values within the deposit. Premier drilled eight holes totalling 3,190 m of which 1,189 m were assayed.

Table 10-4 summarizes the drilling metres for the 1974 to 2011 drilling programs on the Key Lake Property. Figure 10-8 and Figure 10-9 illustrate drilling collar locations and typical geological cross-section with drilling pattern, respectively.

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| 10-15 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 10-4: Summary of the Key Lake Property Drilling Programs

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|:---|:---|:---|:---|:---|:---|
| **Year(s)** | **Company** | **Zone—Key Lake** | **Zone—Key Lake** | **Zone—Key Lake** | **Zone—Key Lake** |
| **Year(s)** | **Company** | **No. of Holes** | **Metres** | **No. of Samples** | **Metres Assayed** |
| 1974 | Jelex Mines Ltd. | 2 | 251.2 | - | - |
| Mid-1980–1990 | Dome Exploration | 116 | 19891.30 | 4324 | 4171.10 |
| 1995 | Cyprus Canada | 13 | 2270.00 | 1300 | 1566.80 |
| 2010 | Goldstone Resources | 59 | 12422.00 | 5433 | 5369.90 |
| 2011 | Goldstone Resources | 114 | 25894.60 | 9750 | 10791.10 |
| 2011 | Premier | 8 | 3190.00 | 896 | 1188.80 |
| **Total** | **Total** | **312** | **63919.10** | **21703** | **23087.70** |

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#### Figure 10-8: Plan View of Key Lake Deposit area with All Surveyed and Estimated Diamond Drill Collars
![](fig10_8.jpg)

Note: Section line corresponds to Figure 10-9.

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| 10-16 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 10-9: Key Lake Deposit – Representative Cross-Section Looking West (View clipped +/- 20 m)
![](fig10_9.jpg)

Note: Mineralization is concentrated within the folded arkose sandstone, forming subvertical zones parallel to the axial planes of the fold, both in association with the quartz-feldspar porphyry, which is also subparallel, and within the arkose sandstone away from the porphyry.

10.3 Conclusions

The Qualified Person responsible for this section of the Technical Report considers the drilling, logging and recording procedures to be consistent with industry best practices. The Qualified Person is not aware of any drilling, sampling, or recovery factors that could materially affect the accuracy or reliability of the reported results.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

11.0 Sample Preparation, Analyses, and Security

11.1 Sampling Methods

Sampling across Greenstone Mine, Brookbank, Kailey, and Key Lake deposits has included RCGC chips and diamond drill core, with program-appropriate quality assurance / quality control (QA/QC) protocols designed to monitor accuracy and precision. Blast hole samples are used only for short term grade control and routine sampling for potentially acid generating (PAG) and deleterious materials, and not for the Mineral Resource estimate.

11.1.1 Reverse Circulation Sampling

RCGC programs utilized rigs with on-board cone splitters to obtain representative primary samples weighing up to 5 kg for grade control for metallurgical analysis (Figure 11-1). Standard grade control sampling intervals are 2 m, and standard metallurgical sampling intervals are 1 m.

#### Figure 11-1: Hardab 5K6 Maxidrill RC Drill Rig with Metzke 1200 Cyclone w 3 Chute Cone Splitter (hyd) in Operation
![](fig11_1.jpg)

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| 11-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Pre-labeled bags are affixed to the splitter for collection. Following collection, samples are sealed with coloured zip ties and depths recorded in tag booklets.

#### Figure 11-2: Principal RCGC Sample (Small) and Metallurgical Sample (Large) from a 2 m RCGC Interval
For logged RC holes, approximately 50 g of material is placed into wet and dry chip trays and logged by geologists (Section 10.1.4). The samples are then stored and recorded into a Microsoft Excel data file using a QR scanner in the sample dispatch area.

Quality control certified reference material (CRM), blind blank, and field duplicate samples are inserted into the sampling stream at an alternating rate of approximately one in every 10 samples. Samples are placed into large rice bags that are subsequently labeled with the drill pattern ID, rock samples, quality control sample ID, and rice bag number using a permanent marker before laboratory dispatch.

11.1.2 Core Sampling

Core is typically sampled continuously along the entire hole, with interval lengths selected based on geological boundaries and mineralization style, generally 0.5 m to 1.5 m. At the core facility, trained geologists logged lithology, alteration, structure, veining, mineralization, and recovery (Section 10.2.3). Intervals with VG are clearly flagged in the core boxes and on sample tickets; enhanced contamination controls are applied, including thorough core-saw cleaning between cuts, and the insertion of additional blanks immediately after high-grade or VG-bearing intervals.

Following logging and sample mark-up, core is cut lengthwise using a diamond-blade saw (Figure 11-3). The same half of the core is consistently retained for reference, while the other half is designated for analysis. Saw blades, trays, and the working surface are cleaned between samples—using water and brush/vacuum as applicable, and with additional rinses after VG or high-sulphide intervals—to minimize potential carry-over.

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| 11-2 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 11-3: Drill Core—Sawing Shack
The sampled half-core is placed into labeled plastic sample bags together with the corresponding sample tag. Bags are sealed with zip ties and grouped in rice bags (typically 5-10 samples per bag) for transport. Each rice bag carried a durable, unique dispatch label including project, hole ID(s), sample number range, and the destination laboratory.

Chain-of-custody documentation accompanies each shipment and is cross-checked against laboratory receiving lists (LIMS).

11.1.3 Blast Hole Sampling Summary

Blast hole sample assays are utilized at the Mine for short-term grade control modelling and not used for calculation of the Mineral Resource estimate; the procedure described below is included for completeness. In preparation for blast hole sampling, sample labels with two tags containing QR codes and analytical instruction (i.e., gold, arsenic, sulphur, carbon and total sulphur, or field duplicate) are printed by the geology technician. One tag is stapled inside the sample bag, the second tag placed loose in the bag for redundancy.

Sampling methods will vary based on the location and type of blast hole being sampled.

&nbsp;&nbsp;&nbsp;&nbsp;· Flitch sampling of a 10 m blast hole requires three samples representing equal intervals, excluding the sub-drilled portion of the hole.

&nbsp;&nbsp;&nbsp;&nbsp;· Full bench sampling of a 10 m blast hole requires three sub-samples, constituting approximately 5 kg of total sampled material.

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| 11-3 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

A flitch sample is prepared at the beginning of each interval of in situ rock, where the sampler places a specially designed sampling pan next to drill rods using a telescopic pole with hoe attachment.

A portion of the fine cuttings fills the pan as the interval is drilled. The drill is stopped after completing each interval, the sample is retrieved and placed into the tagged sample bag, and the pan is cleaned to prevent contamination.

A full bench sample is comprised of three combined sub-samples taken from the spoil pile after the 10 m blast hole has been completely drilled. Using a handheld scooping tool, a vertical channel is dug in the spoil pile at the prescribed sampling location (Figure 11-4), exposing a vertical face, or the "short wall", that reaches to peak of the pile. The material dug from the channel is discarded. The scoop is placed at the base of the short wall, and scraped upward, removing sample material from the short wall (Figure 11-5), which is then placed into the sample bag.

#### Figure 11-4: Full Bench Sampling of a 10 m Blast Hole
![](fig11_42.jpg)<br>![](fig11_43.jpg)<br>

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| 11-4 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 11-5: Full Bench Sampling on the "Short Wall" Face of the Spoil Pile
Sample bags are tied shut with flagging tape, loaded into the box of a pickup truck, and transported to the same receiving, logging, and dispatch facility used for core and RCGC drilling programs.

11.2 Preparation and Analytical Laboratories

11.2.1 1999 to 2009 (Brookbank)

Preparation and analysis for Brookbank core samples drilled by Roxmark between 1999 to 2009 were principally conducted by Swastika Laboratories (Swaslabs) based in Swastika, Ontario. Swaslabs is an ISO 9001:2000 accredited facility that participates in the Proficiency Testing Program for Mineral Analysis Laboratories (PTP-MAL) round-robin laboratory program provided by Natural Resources Canada for analyses of gold, platinum, palladium, silver, copper, lead, nickel, and cobalt. PTP-MAL uses criteria for laboratory proficiency established by the Task Accreditation Sub-Committee Working Group for Mineral Analysis Laboratories of the Standards Council of Canada.

Replicate and umpire analysis work during this time was completed by Accurassay Laboratories Inc. (Accurassay), an ISO/IEC 17025 accredited facility based in Thunder Bay that ceased operations in 2018. These laboratories performed drying, crushing, splitting, pulverizing, and gold fire assay with atomic absorption (AA) or gravimetric finish; internal laboratory quality control comprised blanks, CRMs, and ≥10% re-assays.

11.2.2 2007 to 2024 (Greenstone, Brookbank, Key Lake, Kailey)

Activation Laboratories Ltd.'s (Actlabs) Geraldton facility was an independently ISO 9001:2008 accredited (Kiwa International Cert GmbH) laboratory that served as the primary preparation and analytical site for core, channel, RCGC and blast hole samples from Greenstone (Hardrock), Key Lake, and Kailey properties between 2007 and March 2024. During periods of high sample volume, overflow was sent to Actlabs Thunder Bay, an independent, ISO 17025 certified laboratory located in Thunder Bay, Ontario. Actlabs performed drying, crushing, splitting, pulverizing, gold fire assay with AA or gravimetric finish, gold screen fire assay, LECO (combustion/IR) for carbon and sulphur analysis, and inductively coupled plasma – optical emission spectroscopy (ICP-OES) for multi-element analysis.

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| 11-5 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

From the acquisition of the Brookbank property by Premier in 2009 to the most recent drill program in 2019, all Brookbank samples were similarly sent to Actlabs Geraldton or Actlabs Thunder Bay.

Approximately 10% of core and RCGC samples analyzed for gold during this time were sent for umpire analysis to Australian Laboratory Services Geochemistry laboratory in Thunder Bay (ALS Thunder Bay), after which they are air transported to the ALS Geochemistry Laboratory in Vancouver, British Columbia (ALS Vancouver). ALS Laboratory is an ISO 9001 certified part of the ALS Global Group, and holds additional CAN-P-4E ISO/IEC 17025 and CAN-P-1579 accreditation through the Standards Council of Canada. ALS is an independent commercial laboratory.

11.2.3 2024 to Present (All Properties)

In March 2024, the GGM completed the purchase of Actlabs' Geraldton facility, which has continued to prepare and analyze the majority of the Greenstone Mine blast hole samples for gold fire assay, carbon and sulphur (combustion-IR), and arsenic (ICP-OES) analysis. Actlabs Thunder Bay has continued to serve as the primary independent laboratory for RCGC gold and multi-element analysis.

Umpire analysis of RCGC samples since 2024 are pending collection and submission.

11.3 Sample Preparation Procedures

This section describes preparation protocols from sample receipt through pulverizing, with notes on specifications for each laboratory where applicable. Procedures for Actlabs Geraldton facility since its acquisition by GGM in 2024 remain unchanged and are identical to Actlabs Thunder Bay.

1 Receiving and registration:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) samples received, sorted, and bar-coded

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) sample and containing bag condition is assessed; anomalies documented with photographs when applicable

2 Weighing and drying:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) samples weighed and dried at ~60°C (Actlabs, ALS, Accurassay) to 80°C (Swaslabs)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) moisture and condition noted

3 Primary crushing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) jaw or rotary crush to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· P<sub>80</sub> 10 mesh (1.7 mm to 2.0 mm) (Accurassay)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· P<sub>90</sub> 10 mesh (2.0 mm) (Actlabs, ALS)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· P<sub>80</sub>-P<sub>90</sub> 10 mesh (Swaslabs)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) daily crusher sieve checks

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) visible gold-bearing samples identified by GGM geologists on sample submission forms may have blank silica sand samples inserted into the sample stream to 'wash' the equipment of potentially high-grade sample residue and reduce likelihood of contamination

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| 11-6 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

4 Splitting and sub-sampling:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Jones riffle or rotary split to obtain a nominal ~250 g to 500 g sub-sample

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) coarse rejects retained (all laboratories)

5 Pulverizing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Pulverize to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· P<sub>95</sub> 150 mesh (88 µm to 105 µm) (Actlabs, ALS)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· P<sub>90</sub>-P<sub>95</sub> 100 mesh (150 µm) to P<sub>85</sub> 200 mesh (74 µm) (Swaslabs)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· P<sub>90</sub> 150 mesh (Accurassay)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) pulp sieve checks are performed on the 1st and 50th sample per work order; failures are re-milled

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) bowls are cleaned with blank silica sand between samples and routinely weighed (all laboratories)

6 Metallic-screen preparation (gold-only):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) representative sample up to ~2,000 g is split and screened at 100 mesh (Actlabs, ALS, Swaslabs) or 150 mesh (Accurassay)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) +100 mesh (coarse) and -100 mesh (fine) fractions are weighed to determine their respective mass proportions

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) fine fraction is split into two 50 g (Actlabs, ALS, Swaslabs) or 30 g aliquots (Accurassay)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) cleaner sand is used between samples

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) balances are checked bi-weekly to monthly

11.4 Analytical Testing

11.4.1 Fire Assay Atomic Absorption and Gravimetric Finish (Gold)

Primary gold analyses were conducted by fire assay with atomic absorption (FA-AA) finish (Actlabs: 1A2-50; ALS: Au-AA26; Accurassay: AL4AU3; Swaslabs: FA-AAS).

The procedure utilizes either a 30 g (Swaslabs) or 50 g (Actlabs, ALS, Accurassay) pulp aliquot that is mixed with a lead-based flux designed to ensure total precious metal collection. The pulp-flux mixture is subsequently fused in a high temperature (1,000°C to 1,100°C) furnace for approximately 60 minutes to produce a molten slag and lead button.

The slag is discarded, and the lead button cupelled at approximately 920°C to 950°C to oxidize and remove lead, leaving a doré bead containing gold (and silver, if present). The doré bead is dissolved in aqua regia, and the resulting solution is analyzed for gold by flame AA spectrometry. Calibration standards and instrument blanks are routinely analyzed to establish and verify spectrometer accuracy.

Samples returning results above the upper calibration limit of the AA method (10 g/t Au) requires analysis of another aliquot by fire assay with gravimetric finish (Actlabs: 1A3-50 FA/GRAV; ALS: Au-GRA22; Swaslabs: FA-Grav). In this procedure, following cupellation, the gold flake is annealed using a torch into a doré bead that is weighed directly on a microbalance.

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| 11-7 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

The lower detection limits for FA-AA at all laboratories is 0.005 g/t Au.

Maximum batch sizes, including quality control samples, vary based on laboratory: 24 (Swaslabs), 42 (Actlabs) and 84 (ALS). Information regarding maximum sample batch sizes for Accurassay is unavailable.

11.4.2 Screen Metallic Fire Assay (Gold)

Gold analysis for samples containing or suspected to contain VG were completed using a screen metallic fire assay (SMFA) procedure (Actlabs: 1A4 and 1A4-1000; ALS: Au_SCR24B; Swastika: unavailable). The methodology between all laboratories is the same.

The +100 mesh (coarse) fraction is assayed in its entirety by FA-AA as described above, typically in one or more charges depending on sample mass. Gravimetric finish may also be applied when coarse gold content warrants direct measurement to improve analytical precision.

The -100 mesh (fine) fraction is separated into 50 g aliquots and analyzed using traditional FA-AA method. Duplicate analysis of this fraction provides an assessment of precision and helps quantify residual nugget effects in the fine material.

Gold concentrations from the coarse and fine fractions are then combined on a weighted-average basis according to their respective mass proportions to calculate the total gold grade for the sample.

11.4.3 Aqua Regia Digestion ICP-OES (Arsenic)

This section describes the procedures for analysis of samples ICP-OES after partial digestion at Actlabs' facilities in Geraldton and Thunder Bay. Procedures at the Geraldton facility since its acquisition by the GGM in 2024 remain unchanged.

Partial digestion with ICP-OES (Actlabs: 1E3) is applied to target elements primarily associated with sulphide mineralization and hydrothermal alteration for ore and waste rock characterization. Since aqua regia digestion is considered a partial extraction technique, as the more resistant silicate phases remain intact, the reported concentrations represent the leachable fraction rather than total elemental content.

The 2020 Hardrock Waste Rock Management Plan targets arsenic (As) as the primary sulphide-associated leachable element for environmental monitoring and planning purposes, where blast hole samples are partially digested and analyzed via ICP-OES at a prescribed rate of one every 12,500 t of rock moved, including ore and waste.

The procedure is as follows:

1 A 0.5 g pulp sample is weighed and added to a clean, unused sample tube.

2 1 mL nitric acid (HNO<sub>3</sub>) and 1.5 mL hydrochloric acid (HCl) are added to the tube.

3 Sample digests on a temperature-controlled surface set to 95 °C for between 40 and 90 minutes.

4 Sample tube is removed from heat source and after 5 minutes 7.5 mL de-ionized water is added to the sample tube, which is then stoppered with rubber plugs.

5 The sample tube is inverted 20 times to mix thoroughly, then placed in a centrifuge for a 4-minute cycle at 1,900 rpm.

6 After instrumental calibration, the solution is nebulized into an argon plasma and analyzed.

7 Samples returning concentrations above the upper calibration limit for a given element are re-analyzed after further dilution with deionized water.

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| 11-8 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

11.4.4 4-Acid Digestion ICP-OES (Multi-Element)

The method of 4-acid digestion followed by ICP-OES is an industry standard technique to determine whole rock or soil concentrations of major and trace elements relevant to the style of mineralization, alteration, and litho-geochemical characterization. In addition to nitric and hydrochloric acids, hydrofluoric (HF) and perchloric acid (HClO<sub>4</sub>) acids are added to the sample, ensuring a "near-total" digestion (certain refractory minerals may not completely dissolve). Following digestion, instrumental analysis of the sample is the same as described in Steps 4 to 7 in Section 11.4.3.

This technique has seen limited historical use at Greenstone and Brookbank, with analyses being performed at Actlabs Thunder Bay (Actlabs: 1F2).

11.4.5 Combustion Infrared Analysis (Carbon, Sulphur)

The Combustion Infrared (LECO) method is designed to quantitatively determine carbon (C) and total sulphur (S<sub>T</sub>) content of geological materials for mineral exploration and metallurgical characterization including assessment of acid drainage potential.

The 2020 Hardrock Waste Rock Management Plan prescribes one blast hole sample per 12,500 t rock moved for C and S<sub>T</sub> analysis by LECO method to screen for PAG ore and waste rock. The internal laboratory in Geraldton continues to perform these analyses using the same analytical procedure since it was acquired by Actlabs.

1 A pulp sample weighing between 0.1 g to 0.15 g is combusted in a stream of pure oxygen using radio frequency (RF) induction to heat the sample.

2 Carbon and sulphur present in the sample are oxidized to carbon dioxide (CO<sub>2</sub>) and sulphur dioxide (SO<sub>2</sub>)

3 The gas mixture is swept by the oxygen carrier through a drying reagent into a non-dispersive infrared (NDIR) cell.

4 Sulphur is detected as SO<sub>2</sub>.

5 The gas mixture continues to flow past a heated catalyst where carbon monoxide (CO) is converted to CO<sub>2</sub>, and SO<sub>2</sub> is converted to sulphur trioxide (SO<sub>3</sub>).

6 SO<sub>3</sub> is subsequently removed by a filter and carbon is detected as CO<sub>2</sub> by a second NDIR cell.

7 A pressure controller maintains constant pressure in the cells to eliminate interference from atmospheric variations, while an electronic flow sensor monitors carrier flow for diagnostic consistency.

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| 8 | Results are reported as weight percent (%) total carbon and total sulphur; detection limits for both are 0.01%. |

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NDIR cells operate on the principle that CO<sub>2</sub> and SO<sub>2</sub> absorb infrared energy at unique wavelengths. The concentration of unknown samples is determined relative to calibration standards. To control analytical instrument drift, reference measurements of pure carrier gas are performed prior to every analysis.

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| 11-9 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

11.4.6 Bulk Density

Bulk density measurements were completed at GGM's facilities on full core at approximately one sample per 10 core boxes.

Density was calculated using the formula SG = Wd / (Wd-Ww), where Wd is the weight of the dry sample, and Ww is the weight of the sample while submerged in water.

The dry core sample was weighed, then fully submersed in water, and weighed again using a calibrated precision laboratory scale set up with a hook for weighing in water.

Results from the analysis of bulk density are discussed in Section 14.1.6 of the Report.

11.5 Geological Database

All drilling, sampling, and QA/QC logs and records were entered directly and managed in Datashed through 2024 and transitioned to MX Deposit in 2025.

Sample and assay data are uploaded digitally. Downhole and collar survey data are imported or uploaded directly from the respective survey instruments.

The database manager or designated personnel verify the data during import, and filters in MX Deposit™ screen out invalid or erroneous measurements. Data are regularly backed up on secure servers where access is limited to reduce the potential for compromising data. Only designated personnel may access or make changes to the databases.

11.6 Sample Security and Storage

The facility where core, RC chip, and blast hole samples are logged and prepared is located within a secure and monitored area outside the gated mine property on land owned by GGM. Drill core boxes and chip samples are transported from the rigs in the field to the facility by drilling contractor crew members or other GGM-designated personnel.

Upon receipt of core boxes, chip and blast hole samples, designated personnel are responsible for offloading and organizing them onto steel storage racks and sturdy benches, respectively.

Following logging, sample cutting, and/or preparation and prior to dispatching samples, chain-of-custody sample submission sheets are printed and accompany each shipment in a waterproof envelope within a dedicated shipping box to the designated laboratory. These documents itemize sample identification numbers and requested analytical methods to ensure that all submitted samples are received and processed as intended by the laboratory.

Sample bags are zip-tied shut and are attended at all times or stored in a secure location within the building while awaiting dispatch.

Once a batch of samples is complete and in advance of the shipment, GGM personnel will issue a dispatch email to the respective laboratory containing the list of sample IDs and analysis required.

Sample batches dispatched to the internal Geraldton laboratory are picked up and delivered by GGM personnel, while batches of exploration samples dispatched to Thunder Bay (ALS, Actlabs) are picked up and transported by Manitoulin Transport. Samples prepared at ALS Thunder Bay are subsequently shipped via regularly scheduled Purolator® air courier service to ALS Vancouver.

Following analysis, assay pulps and coarse reject material are packaged, labeled and returned from the respective laboratories to Greenstone for storage either inside the facility, inside storage buildings at the Magnet Mine site 8 km west of Greenstone, or outside either facility under protective tarps. The Magnet Mine is accessible from the Trans-Canada Highway via a gate-locked access road.

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| 11-10 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Upon completion of logging, sampling and analysis, core boxes slated for long-term storage are stored outdoors in covered steel racks or in pallets under protective tarps either at core farms including those across the road from the Greenstone facility, within the Magnet Mine site, or Brookbank core facility. Core boxes are organized sequentially by drill hole number and depth. The location of stored core boxes, either approximate or via handheld GPS, is recorded and maintained in an Excel spreadsheet and site map.

11.7 Quality Assurance and Quality Control Programs

11.7.1 1999 to 2022

Diamond drilling programs at Key Lake, Kailey, and Brookbank prior to 2009 employed routine insertion of blank material that ranged from barren limestone, gabbro, granite, and certified blanks; CRMs; and duplicates (quarter-core and pulp) at batch-level frequencies. Validated certificates demonstrated blanks within control limits, CRMs within ±3 standard deviations, and acceptable duplicate precision for the sampling media involved..

Following consolidation of the respective project areas by Premier beginning in 2009, QA/QC programs for all core and later RCGC drilling programs were standardized. Quality control samples were inserted at an effective frequency ranging from 1 in 10 to 1 in 20 samples. These samples include field duplicates, blanks, and CRMs. The blank material used has varied from barren samples of sandstone or diabase, though since 2021 the material utilized has been crushed white marble.

Check assaying was systematically undertaken, where between 5% and 10% of all core and RCGC samples submitted to the primary laboratory were submitted to a separate independent laboratory.

11.7.2 2022 to Present

The following section discusses QA/QC results for RCGC drilling programs between 2022 to 2025.

11.7.2.1 Blank Samples

To prepare a blank sample, approximately 1 kg of coarse blank marble is added to the pre-made RC sample bag and inserted in sequence with the rest of the RC samples on the dispatch bench. The GGM blank failure threshold was three times the detection limit, or 0.015 g/t Au.

The QP notes that marble is less suitable for blank material than rock with a more siliceous matrix due to the effect of high carbonate content on the flux balance and slag viscosity in the fire assay process.

For this RCGC drilling program, 10 of the 1,432 blank results exceeded the recommended failure threshold, representing 0.7% of the total blank population (Figure 11-6). When blanks failed, the associated batch of RCGC samples were re-prepared and re-analyzed in accordance with the blank failure threshold. No instances of failure were reported after subsequent re-preparation and re-analysis.

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| 11-11 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 11-6: Results of Blank Samples used for Quality Control during RCGC Drilling at Greenstone between September 2022 and August 2025
Notes: Detection Limit = 0.005 g/t Au for AA Finish

11.7.2.2 Certified Reference Material

CRMs used by GGM are individually wrapped in 60 g sealed envelopes prepared by OREAS®, an ISO 17034 accredited material producer. CRMs inserted into the RCGC quality control sample stream by GGM personnel have certified gold grades ranging from 0.505 g/t to 5.65 g/t Au for FA-AA (Figure 11-7 through Figure 11-11):

&nbsp;&nbsp;&nbsp;&nbsp;· OREAS 251b with a certified value of 0.505 ± 0.017 g/t Au

&nbsp;&nbsp;&nbsp;&nbsp;· OREAS 240b with a certified value of 5.65 ± 0.143 g/t Au

&nbsp;&nbsp;&nbsp;&nbsp;· OREAS 240 with a certified value of 5.51 ± 0.139 g/t Au

&nbsp;&nbsp;&nbsp;&nbsp;· OREAS 235b with a certified value of 1.63 ± 0.053 g/t Au

&nbsp;&nbsp;&nbsp;&nbsp;· OREAS 231b with a certified value of 0.556 ± 0.017 g/t Au

A fire assayed CRM returning a value that is outside ±3 standard deviations of the certified values constitutes a failure under GGM QA/QC protocols and will typically require re-analysis of the sample batch, or 10 samples before and after the CRM. A batch may be accepted with failure at the discretion of the designated geologist overseeing importation of results, provided there are no samples within it that returned values below economic threshold of approximately 0.3 g/t.

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| 11-12 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 11-7: Standard OREAS 251b results – RCGC Program

#### Figure 11-8: Standard OREAS 240b results – RCGC program

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| 11-13 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 11-9: Standard OREAS 240 results – RCGC Program

#### Figure 11-10: Standard OREAS 235b results – RCGC Program

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| 11-14 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 11-11: Standard OREAS 231b results – RCGC program
Table 11-1 summarizes CRM performance for the GGM RCGC program from September 2022 to August 2025. Laboratory performance was acceptable overall, with failure rates within acceptable tolerances.

#### Table 11-1: RCGC program CRM Performance, September 2022 to August 2025

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| **CRM** | **Total<br> (n)** | **Mea<br> (g/t)** | **3SD+<br> (g/t)** | **3SD -<br> (g/t)** | **Failure<br> (n)** | **Failure Rate<br> (%)** |
| OREAS 251b | 425 | 0.505 | 0.556 | 0.454 | 14 | 3.3% |
| OREAS 240b | 683 | 5.65 | 6.079 | 5.221 | 5 | 0.7% |
| OREAS 240 | 250 | 5.51 | 5.927 | 5.093 | 4 | 1.6% |
| OREAS 235b | 956 | 1.63 | 1.789 | 1.471 | 16 | 1.7% |
| OREAS 231b | 704 | 0.556 | 0.607 | 0.505 | 0 | 0.0% |

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11.7.2.3 RC Field Duplicates

RC field duplicates were collected at the drill rig using the onboard cyclone splitter. A third sample bag is attached to the splitter, and the duplicate is collected at the same time as the principal sample and/or metallurgical sample.

A total of 1,596 field-duplicate pair samples were identified in the database corresponding to the period between September 2022 and August 2025. A regression slope of 0.984 and a correlation coefficient of 99.18% is observed (Figure 11-12).

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| 11-15 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 11-12: Field Duplicate Results – RCGC program, September 2022 to August 2025
![](fig11_12.jpg)

Relative Percent Difference (RPD) versus Average Grade was evaluated by the QP to assess the precision of duplicate assays and the reproducibility of the fire assay method across the range of gold concentration (Figure 11-13). This statistical method is not routinely utilized as part of the GGM QA/QC protocols.

The data show two distinct behaviours, where at low grades (<0.45 g/t Au), RPD increases sharply with decreasing grade, reflecting the combined effects of analytical precision limits and natural variability from coarse gold. At high grades (>0.45 g/t Au), RPD values are consistently below 20%, indicating good reproducibility. A total of 13 (0.8%) duplicate pairs with an average grade above 0.45 g/t exceed the 20% RPD threshold, which may be the result of gold heterogeneity caused by settling following sample preparation.

Overall, these results confirm that the assay method is precise and reliable.

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| 11-16 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 11-13: Relative Percent Difference versus Average Grade – RCGC program, September 2022 to August 2025
11.7.2.4 Check Assays

While RCGC pulps were submitted for check assaying prior to 2024, umpire analysis for RCGC samples collected since 2024 has not been finalized in time for this Technical Report.

11.8 Conclusions

Current logging and sampling methods, sample preparation, analytical methods and procedures, database management, QA/QC program, and sample and data security are consistent with accepted industry practices, with appropriate levels of checks and review.

In the opinion of the QP, the sampling, sample preparation, analytical methods, and QA/QC programs currently in use are reasonable and adequate for Mineral Resource and Mineral Reserve estimation and mine planning purposes.

The sample preparation facilities and analytical laboratories used for Mineral Resource and Mineral Reserve estimation and mine planning purposes are independent of GGM.

11.9 Recommendations

&nbsp;&nbsp;&nbsp;&nbsp;· Discontinue the use of marble as a source for quality control blank material and instead utilize a more siliceous material.

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| 11-17 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;· Maintain a routine, statistically robust check assay program with an ISO 17025-accredited laboratory and summarize results in future reports.

&nbsp;&nbsp;&nbsp;&nbsp;· Include RPD versus. Average Grade control charts for analysis of all duplicate pairs, though note it is not recommended to fail sample batches based on duplicates, as these values can represent the inherent grade variability of the deposit.

&nbsp;&nbsp;&nbsp;&nbsp;· Report results of GGM QA/QC programs on a routine basis (e.g., quarterly) for all sample sources informing the Mineral Resource estimate.

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| 11-18 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

12.0 Data Verification

12.1 Drill Hole and Exploration Data Verification

12.1.1 Greenstone Mine

12.1.1.1 Overview of the Databases

Several drilling campaigns in the Greenstone database have been validated by Equinox personnel and the independent consultant, GMS, at various points during the generation of the 2016, 2019, and 2024 updates of the Mineral Resource estimates for the Greenstone Mine. A summary of the database validation completed for previous Mineral Resource estimates is provided below.

#### Database Validation – 2016 Mineral Resource Estimate
Data verification for the 2016 Mineral Resource estimate was completed by Réjean Sirois, a GMS employee and QP, and addressed all data before the 2016 update, with a focus on drilling and stripping programs in 2014 and 2015. He visited the Greenstone site between August 1 and 4, 2016, to review and verify the data. His key conclusions are summarized:

&nbsp;&nbsp;&nbsp;&nbsp;· Seven drill collars were checked using a handheld GPS, with differences generally less than 5 m. As the 2015 collars were surveyed with RTK, which provided millimetre scale precision, and downhole surveys (REFLEX) were checked for 5% of drill holes, with minor errors corrected in the database.

&nbsp;&nbsp;&nbsp;&nbsp;· Validation of the logging, sampling, and assaying indicated that core boxes are well labelled and stored with sample tags intact. Greenstone Mine demonstrated a full chain of custody from drill to laboratory, and the protocols are adequate. Assays were verified for 2% of the drill holes from these programs.

&nbsp;&nbsp;&nbsp;&nbsp;· An independent resampling program conducted showed expected variability due to the nugget effect; some samples increased by 77% and 102%, while others decreased by up to 100%. GMS deemed these results acceptable given the mineralization style.

The GMS QP deemed the database to be reliable and appropriate for the estimation of Mineral Resources.

#### Database Validation – 2019 Mineral Resource Estimate
The data validation for the 2019 Mineral Resource estimate update performed by GMS included the review of drilling activities completed in 2018 and 2019 in the Greenstone Mine deposit resource area, with the database close-out date being May 14, 2019. The QP was Réjean Sirois of GMS, and he conducted several site visits during this period.

&nbsp;&nbsp;&nbsp;&nbsp;· The assay verification by GMS was completed on 7% of 2018 RCGC assays and 25% of 2019 RCGC and DDH assays. No significant errors were identified during the review.

&nbsp;&nbsp;&nbsp;&nbsp;· After the completion of the 2019 Mineral Resource estimate, GMS became aware that GGM staff had renamed the 2018 RCGC drill holes with new hole IDs and resurveyed several drill collars. As these events occurred after the completion of the 2019 Mineral Resource estimate, GMS retained the originally provided drill hole IDs and collar surveys for the 2018 RCGC drilling.

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| 12-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;· The collar coordinates of 52 holes were checked, with 6 holes deviating by more than 5 m; however, this was deemed not material to the 2019 Mineral Resources estimate.

No significant errors or issues were identified with the resource database. In the GMS QP's opinion, the database was of good quality and suitable for the estimation of Mineral Resources.

#### Database Validation – 2022 and 2024 Mineral Resource Estimates
The independent consultants GMS were responsible for validating the 2022 and 2024 Mineral Resource estimate updates and reviewing the drilling, which was mostly completed during the 2021–2022 drilling season. Mr. Réjean Sirois of GMS visited the Greenstone Mine from July 23 to 25, 2024.

QA/QC results for the winter 2021–2022 drilling campaign were reviewed with GGM geologists on site; no material issues were found. Any QA/QC failures led to the reanalysis of the batch in accordance with Greenstone Mine's internal QA/QC protocols.

The 2022 and 2024 data verification processes demonstrated the validity of the data and protocols for the Greenstone Mine deposit. GMS considered the resource database to be valid and of sufficient quality to be used for Mineral Resource estimation.

#### Greenstone Mine Historical Drill Hole Validation
After the 2024 Mineral Resources estimate, drill holes from historical drilling campaigns in the 1980s and 1990s were identified. The assay values from these drill holes match those publicly reported in the Assessment File Research Image (AFRI) database and in historical drill logs; the original assay certificates were not available for validation. Several statistical and visual comparisons with recently completed validated drill holes within a 25 m radius of these drill holes were completed. Historical drill holes with reasonably comparable assay values were incorporated into the 2025 Mineral Resource estimate. Previously incorporated historical drill holes that have not been confirmed due to a lack of new data or poor comparison were excluded from the Mineral Resource database.

The Qualified Person reviewed the validation procedures completed by previous QPs, as well as the adjustments made to the historical drilling dataset. Based on this review, the QP is of the opinion that the methodology used to evaluate and selectively include historical drill holes is appropriate. Mr. Niel de Bruin, QP, concludes that the adjusted database is acceptable for use in Mineral Resource estimation.

#### Database Verification – 2025 Mineral Resource Estimate Update
Drill hole data added to resource database for the 2025 Mineral Resource estimate comprises only the RCGC drill hole in the open pit area, and the review and validation focused on these drill holes. The close-out date for the 2025 resource database is August 12, 2025.

*<u>Database Migration from Datashed to MX Deposit</u>*

The Greenstone Mine database was migrated from the Datashed database to the MX Deposit database in December 2024. Several validation processes were conducted to ensure the migrated data retained integrity and accuracy, and that it is reliably in MX Deposit.

&nbsp;&nbsp;&nbsp;&nbsp;· All gold assay results, including sample numbers, were compared between the legacy Datashed database and the new MX Deposit database, with no discrepancies identified. Other results, notably As and S, were spot-checked to ensure that data were accurately transferred to the MX deposit between the databases.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;· Collar coordinates were cross-checked between the two databases and visually inspected for outliers; no significant issues were observed.

&nbsp;&nbsp;&nbsp;&nbsp;· Record counts across all tables were compared between the old and new databases, confirming that the counts matched and the data were complete.

&nbsp;&nbsp;&nbsp;&nbsp;· Minor coding errors were found, such as drill hole types being incorrectly classified. These errors were corrected to ensure accurate classification, thereby reinforcing confidence in the database's integrity.

The migration to the MX Deposit database was verified as accurate and is consistent with the original Datashed database. Additionally, historical data not captured in the Datashed database was included in the MX deposit in 2025:

&nbsp;&nbsp;&nbsp;&nbsp;· Previously existing bulk density data values not previously hosted in the Datashed databases were added to the MX Deposit database. Multiple rounds of visual and graphical checks and reviews of the original data were conducted. Minor errors were identified and corrected, ensuring the consistency and accuracy of the density values.

&nbsp;&nbsp;&nbsp;&nbsp;· Several drilling campaigns did not analyze for arsenic in all samples. To improve arsenic data coverage, the Company collected selective sample pulps across the deposit and combined them to create "composite" samples ranging in length from 2 m to 8 m. These samples were reanalyzed for their composite arsenic values. In some instances, these composite values overlap with samples previously analyzed for arsenic. For the overlapping original and composite samples, both the original and composite arsenic assay values were reviewed individually. Decisions were made on which assay values should take precedence, prioritizing those that provided the best grade breakdown and coverage.

&nbsp;&nbsp;&nbsp;&nbsp;· All drill holes were reviewed for completeness and accuracy, and the resource-ready field, along with associated comments, was updated to reflect acceptable estimation data.

*<u>Verifying the RCGC Drill Hole Data</u>*

The 2025 resource database, including the additional RCGC drill holes, was validated by Daniel Downton, P.Geo., and reviewed by Niel de Bruin, P.Geo., both employees of Equinox. Mr. Downton visited the Greenstone Mine on five separate occasions between May 7, 2025, and September 12, 2025. Niel de Bruin visited the Greenstone Mine on two occasions, with his last visit from September 10, 2025, to September 15, 2025. Visits to the sampling preparation facilities for the RCGC drill hole samples, as well as to the mining pit and outcrop, were completed during the site visits. Validation processes included:

&nbsp;&nbsp;&nbsp;&nbsp;· Review of the RCGC sample preparation facility and process for preparing samples for the laboratory identified no issues.

&nbsp;&nbsp;&nbsp;&nbsp;· The sampling preparation processes are well established for transporting the samples from Greenstone Mine to the laboratory.

Review of the QA/QC data identified minor issues with CRMs in a subset of data from 2022 to 2025, with CRM values outside the third deviation boundary. These RCGC drill holes were included in the resource database, as the QP considers their inclusion to be immaterial to the Mineral Resource estimate, as the bulk of these drill holes are located within mined-out areas and do not affect any blocks in the Mineral Resources.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Additionally, the imported drill hole database from the MX deposit, earmarked for use in the 2025 Mineral Resource estimate, was also validated in the geological software, and minor issues because of the importing were corrected.

#### Conclusion
The QP is of the opinion that the data verification process confirmed the validity of the data and protocols for the Greenstone Mine. The identification and correction of minor errors during data migration, the exclusion of non-validated historical drill holes, and the determination of the immaterial impact of CRM-related sample issues have established confidence in the integrity of the 2025 resource database. The QP considers the Greenstone Mine database adequate for the estimation of Mineral Resources.

12.1.1.2 Void Management

#### Void Management 2014–2024
Previous validation work completed between 2014 and 2024 on the historical underground workings at the Greenstone Mine deposit is briefly summarized:

&nbsp;&nbsp;&nbsp;&nbsp;· Since 2014, archival research and advanced drilling techniques provided additional plan views, cross-sections, and longitudinal data, enabling corrections and the inclusion of previously missing stopes and drifts.

&nbsp;&nbsp;&nbsp;&nbsp;· The voids from the 2014 model were upgraded to medium precision, with classifications based on the data types used. Medium-precision voids were based on longitudinal views and drilling data, while high-precision voids included plan views or cross-sections with accurate positional information. Additionally, backfill information was updated, categorizing stopes as open (water-filled), waste (waste and clinker), or sand (wet sand and gravel), with specific gravities provided by GGM. The 2016 model accounted for 89% of historical milled tonnes at an average density of 2.84 g/cm³, and GMS deemed the triangulation to be reliable.

&nbsp;&nbsp;&nbsp;&nbsp;· In a subsequent study conducted in 2019, voids encountered during the 2018–2019 drilling campaigns were compared against the 2016 wireframes. The results revealed that 43% of drill holes intersected new voids that had not been modelled previously, while 57% confirmed or expanded existing structures. The discrepancies were attributed to structural failures, inaccuracies in historical mapping, or unrecorded post-closure mining. Near-surface RC drilling uncovered most of the new voids, whereas deeper diamond drilling confirmed the reliability of the existing model, with expected voids intersected within ±5 meters.

&nbsp;&nbsp;&nbsp;&nbsp;· Although adjustments could be made to refine interpretations, these were not significant enough to affect the overall void volumes. The new voids identified through RC drilling were incorporated into the 2019 Mineral Resource estimate as 10 m cuboids to ensure accurate volume representation, while the existing wireframes remained unchanged.

Despite significant prior work, the model still showed inconsistencies, with voids encountered during mining that were either missing, mislocated, or poorly shaped. These discrepancies in the work completed for previous Mineral Resource estimates remain operational, geotechnical, and resource-estimation risks.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Void Model Update June 2024 to 2025
Since completion of the 2024 Mineral Resource estimate, additional information on historical underground voids became available. Greenstone Mine engaged an external consultant to compile this information and undertake a comprehensive review of the entire void model. This work resulted in several significant enhancements to the 2025 void model, including the addition of numerous raises, sublevels, and stopes that had not been previously represented. Several existing voids were repositioned or reshaped to better reflect realistic mineable geometries.

Data quality varied across the historical mines. Information from the Hardrock mine exhibited the lowest level of detail, whereas high-resolution plans from the MacLeod and Mosher mines supported more accurate and detailed modelling. The updated void model demonstrates improved alignment with Cavity Monitoring Survey (CMS) data, drill hole breakthroughs, and historical control points compared with earlier versions used during mining.

The 2025 void model update enhances the reliability of Greenstone Mine's subsurface interpretation by improving structural continuity and eliminating floating voids, unrealistic geometries, and misaligned levels present in the prior model. Although uncertainties associated with historical voids remain an inherent risk, the improvements incorporated into the 2025 model materially reduce this risk and strengthen operational confidence. The updated void model is considered acceptable for use in Mineral Resource estimation, mine planning, and geotechnical assessments, supported by a complete and organized dataset and a CMS-validation standard operating procedure (SOP).

Ongoing efforts will focus on further review and validation of the void model to support risk mitigation and improve the accuracy of mineral resource estimates. The work will involve:

&nbsp;&nbsp;&nbsp;&nbsp;· Continuing to search for historical data, as unexpected voids may still be discovered, and reviewing archived paper records that might reveal additional missing information.

&nbsp;&nbsp;&nbsp;&nbsp;· Maintaining regular CMS integration by validating and incorporating new scans to preserve model accuracy.

&nbsp;&nbsp;&nbsp;&nbsp;· Implementing confidence-based risk management by adding adequate buffers to lower-confidence voids or introducing alternative treatments in planning workflows.

&nbsp;&nbsp;&nbsp;&nbsp;· Establishing periodic model governance, including annual or milestone-based reviews, to ensure the model aligns with operational learnings and incorporates new data.

&nbsp;&nbsp;&nbsp;&nbsp;· Continue to record all breakthroughs encountered in drilling (RC and DDH) and review relative to the void models; incorporate this information in future void model updates as required.

The QP is of the opinion that significant progress has been made in defining the historical underground workings and verifies that, based on the available data, the void model is reasonable; however, the accuracy of underground historical workings remains a risk due to poor-quality or unavailable data.

12.1.2 Brookbank, Kailey, and Key Lake Drill Hole and Exploration Data Verification

A summary of the validation work completed for the 2024 Mineral Resource estimate is included for completeness.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Since 2012, significant efforts have been made to enhance confidence in the Kailey and Key Lake drilling databases. The MX Deposit database comprehensively tracks drilling activities and includes validated collar information, surveys, and assay certificates. Additionally, several site visits by GMS employees have been conducted during this period.

For the 2020 update of the Kailey and Key Lake Mineral Resource estimates, James Purchase, P.Geo., of GMS, conducted a site visit from July 27 to 30, 2020. Validation activities during this visit identified invalid data to exclude but confirmed that the database is suitable for Mineral Resource estimate purposes. In addition, Réjean Sirois, P.Eng., of GMS, conducted a site visit from July 23 to 25, 2024, as part of the 2024 update. Data verification activities were completed during this visit to validate the database.

Equinox has made substantial efforts to increase confidence in the database for these properties. Historical collars have been resurveyed, and assay certificates have been checked, organized, and incorporated into the database. Numerous errors related to erroneous surveys, missing sampling intervals, and minor discrepancies between assay certificates and database values have been corrected. An extensive resampling campaign took place in 2016 and 2017, involving 6,923 samples, to complete previously unsampled intervals and confirm existing values in the database.

The Key Lake deposit, and to a certain extent the Brookbank deposit, suffers from selective, incomplete sampling of drill core, likely leaving low-grade mineralization intervals unsampled. In such zones, GMS assigned a detection limit assay value of 0.001 g/t Au. This approach, while likely leading to an underestimation of ounces, is considered an industry standard for under-sampled drill core. Furthermore, GMS disregarded drilling intervals that intersected underground workings (marked as "breakthroughs" in the lithology logging), rather than applying a 0.001 g/t grade in these instances. In addition, certain drill holes at Key Lake completed by Dome Exploration had issues regarding drill hole collar locations and accuracy of assay values. In this instance. GMS used the drill hole to create the mineralization wireframes but exclude the drill holes during the estimation. These issues will not have a material impact on the mineral resource estimate.

The QP, Niel de Bruin, has reviewed GMS's data verification for the Brookbank, Kailey, and Key Lake resource databases, as well as the verification work completed by Micon International in 2013 (Murahwi 2013) and is of the opinion that the Brookbank, Kailey and Key Lake databases are suitable for use in the estimation of Mineral Resources. No additional data has been added to the resource databases for these deposits for the 2025 update.

In December 2024, the Kailey and Key Lake databases were successfully migrated into the MX Deposit database. Similar to the Greenstone database, Equinox conducted thorough validation procedures to ensure the integrity, accuracy, and reliability of the migrated data. These validation processes, which were carried out while the data was still hosted on Datashed, were verified by the QP. Additionally, Equinox completed further checks by comparing the original assay certificates against the data in the MX Deposit with the migration process verified as accurate. The QP considers the data verification process completed during the data migration to be adequate and support the integrity of the resource database.

In the QP's opinion, the databases for the Brookbank, Kailey, and Key Lake deposits are acceptable for the estimation of Mineral Resource estimates.

12.1.2.1 Underground Void Models

Recently, historical plans and sections of underground workings for the Kailey and Key Lake deposits have been digitized, resulting in a 3-D void model that was integrated into the Mineral Resource estimate update. For Key Lake, the Jellicoe shaft collar was surveyed, and all associated plans and sections were digitized and pinned to the collar coordinates. At Kailey, underground drifts were digitized from level plans, and the mined vein was modelled based on a long section, assuming a constant width of one metre. Unfortunately, no stope information was available for inclusion in the block model; however, GMS did subtract the mined vein from the Mineral Resource estimate (Dorval et al. 2024). The QP is of the opinion subtracting the mined vein for the Mineral Resources reporting is adequate.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

12.2 Mining Engineering

The Mineral Reserve QP has verified the following key data:

&nbsp;&nbsp;&nbsp;&nbsp;· Resource block model: The resource block model was reviewed with the Mineral Resource QP to ensure its suitability to generate a Mineral Reserve estimate.

&nbsp;&nbsp;&nbsp;&nbsp;· Mining dilution: The reconciliation of the Mineral Reserve block model tonnes and grades was checked against historical plant production information and stockpile inventory balances from January to October 2025 to ensure that a representative amount of mining dilution is included.

&nbsp;&nbsp;&nbsp;&nbsp;· Productive capacity: Major mining equipment capacity estimates and truck haulage speed assumptions were checked against those reported by the Fleet Management System (FMS)

&nbsp;&nbsp;&nbsp;&nbsp;· Costs: Costs have been reviewed and are aligned with actuals and projections to represent a mature operation

The QP has reviewed the modifying factors that impact Reserve estimation and is of the opinion that they comply with industry standards and are adequate for the purposes of Mineral Reserve estimation.

12.3 Metallurgical Testing

The QP has visited the process plant and reviewed current operating results to verify plant performance.

The QP has verified the method of predicting residue grades from actual operating data to determine gold recoveries and confirms this as acceptable industry practice.

12.4 Environment

The QP visited the site on numerous occasions in 2025 and met with key personnel involved in environmental and sustainability management of the site. The information contained in this report has been prepared based on a review of available reporting, monitoring data, and personnel interviews. The QP confirms that the environmental and sustainability management practices meet acceptable industry practice.

12.5 Infrastructure

The QP has visited the tailings management facility (TMF) site and has reviewed the available design reports, including technical discussions with WSP's Engineer of Record and the Independent Tailings Review Board (ITRB), to verify the construction status and operation of the TMF. The QP confirms that the design, construction methodology, and operational procedures follow acceptable industry practice.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

13.0 Mineral Processing and Metallurgical Testing

13.1 Introduction

Significant metallurgical test work has been completed on ore samples from various parts of the Greenstone deposit. Detailed summaries of historical metallurgical test work programs can be found in previous technical reports, including Dorval et al. (2024).

During 2014–2015, metallurgical test work programs were completed to support the feasibility study and subsequent design of the existing operating process plant. A metallurgical test work program was completed in 2019 and focused on whole ore cyanidation and gravity tails cyanidation testing. The metallurgical test work was primarily completed at SGS Lakefield in Ontario, Canada (an independent metallurgical laboratory that is accredited to the requirements of ISO/IEC 17025). Relevant test work from those programs is summarized in this section.

No new significant metallurgical test work program has been completed since the process plant was commissioned in 2024; however, Plant Operations has completed mineralogy and gold deportment tests as part of plant optimization.

13.2 Feasibility Study Test Work (2014–2015)

Relevant metallurgical test work completed during 2014–2015 is summarized below and based on the following reports:

&nbsp;&nbsp;&nbsp;&nbsp;· An Investigation into the Grindability Characteristics of Samples from the Hardrock Deposit, Report 1 (Grindability)-14117-001, August 26, 2014 (SGS Canada Inc. 2014a)

&nbsp;&nbsp;&nbsp;&nbsp;· An Investigation into The Hardrock Deposit, Final Report 14117-001, October 8, 2014 (SGS Canada Inc. 2014b)

&nbsp;&nbsp;&nbsp;&nbsp;· The HPGR Amenability of Samples from The Hardrock Deposit, Report 2–Rev 1-14117 001, March 6, 2015 (SGS Canada Inc. 2015)

&nbsp;&nbsp;&nbsp;&nbsp;· Revised SMC Test Report, April 2014 (JKTech Pty Ltd. 2014)

13.2.1 Grindability Test Work

Five dilution samples, three PQ core samples, and 53 core interval samples were submitted for comminution testing at SGS Lakefield. In addition, nine variability composites and one global composite sample were prepared using the core samples. The global composite at the time was considered most representative of the run-of-mine (ROM) during the Mine's life. The samples were submitted for JK drop-weight tests (DWT), SMC tests, Bond low-energy impact tests, Bond rod mill and ball mill grindability tests, ModBond tests, and Bond abrasion tests.

The grindability test results for the composite samples, the PQ core samples. and the dilution samples are summarized in Table 13-1.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 13-1: Composites, PQ Core, and Dilution Sample Comminution Tests Results

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|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Name** | **Interval<br> Number** | **CWI<br> (kWh/t)** | **Relative<br> Density** | **JK Parameters** | **JK Parameters** | **JK Parameters** | **Ball Mill Work <br> Index<br> (kWh/t)** | **Modified Bond Ball Mill Work Index<br> (kWh/t)** | **Abrasion <br> Index<br> (g)** |
| **Type** | **Name** | **Interval<br> Number** | **CWI<br> (kWh/t)** | **Relative<br> Density** | A | b | Axb | **Ball Mill Work <br> Index<br> (kWh/t)** | **Modified Bond Ball Mill Work Index<br> (kWh/t)** | **Abrasion <br> Index<br> (g)** |
| **Composites** | Global | - | - | - | - | - | - | 15.2 | - | - |
| **Composites** | A | - | - | - | - | - | - | 15.9 | - | - |
| **Composites** | B | - | - | - | - | - | - | 15.3 | - | - |
| **Composites** | C | - | - | - | - | - | - | 15.9 | - | - |
| **Composites** | D | - | - | - | - | - | - | 15.8 | - | - |
| **Composites** | E | - | - | - | - | - | - | 15.1 | - | - |
| **Composites** | F | - | - | - | - | - | - | 14.5 | - | - |
| **Composites** | G | - | - | - | - | - | - | 16.4 | - | - |
| **Composites** | H | - | - | - | - | - | - | 14.3 | - | - |
| **Composites** | I | - | - | - | - | - | - | 15.0 | - | - |
| **PQ Core** | PQ Iron Formation (DWT) | - | 12.0 | 3.26 | 75.1 | 0.43 | 32.3 | - | - | - |
| **PQ Core** | PQ Iron Formation (SMC) | - | 12.0 | 3.24 | 84.1 | 0.40 | 33.6 | - | - | - |
| **PQ Core** | PQ Greywacke (DWT) | - | 10.2 | 3.26 | 59.6 | 0.76 | 45.3 | - | - | - |
| **PQ Core** | PQ Greywacke (SMC) | - | 10.2 | 3.11 | 75.7 | 0.54 | 40.9 | - | - | - |
| **PQ Core** | PQ Porphyry with Minor | - | - | - | - | - | - | - | - | - |
| **PQ Core** | Greywacke (DWT) | - | 14.6 | 2.93 | 75.1 | 0.32 | 24.0 | - | - | - |
| **PQ Core** | PQ Porphyry with Minor | - | 14.6 | - | - | - | - | - | - | - |
| **PQ Core** | Greywacke (SMC) | - | - | 2.76 | 76.3 | 0.34 | 25.9 | - | - | - |
| **Dilution Samples** | Greywacke | - | - | 2.77 | 94.6 | 0.24 | 22.7 | 15.5 | 16.0 | 0.154 |
| **Dilution Samples** | Iron Formation | - | - | 2.95 | 81.2 | 0.35 | 28.4 | 10.5 | 11.1 | 0.091 |
| **Dilution Samples** | Gabbro | - | - | 2.78 | 65.7 | 0.48 | 31.5 | 14.5 | 14.8 | 0.102 |
| **Dilution Samples** | Porphyry | - | - | 2.68 | 92.0 | 0.27 | 24.8 | 16.0 | 16.5 | 0.194 |
| **Dilution Samples** | Ultramafic | - | - | 2.96 | 66.7 | 0.89 | 59.4 | 10.2 | 10.2 | 0.069 |
| Notes: DWT = Drop-Weight Test; SMC = SMC Testing Pty Ltd.<br>Source: SGS 2014. | Notes: DWT = Drop-Weight Test; SMC = SMC Testing Pty Ltd.<br>Source: SGS 2014. | Notes: DWT = Drop-Weight Test; SMC = SMC Testing Pty Ltd.<br>Source: SGS 2014. | Notes: DWT = Drop-Weight Test; SMC = SMC Testing Pty Ltd.<br>Source: SGS 2014. | Notes: DWT = Drop-Weight Test; SMC = SMC Testing Pty Ltd.<br>Source: SGS 2014. | Notes: DWT = Drop-Weight Test; SMC = SMC Testing Pty Ltd.<br>Source: SGS 2014. | Notes: DWT = Drop-Weight Test; SMC = SMC Testing Pty Ltd.<br>Source: SGS 2014. | Notes: DWT = Drop-Weight Test; SMC = SMC Testing Pty Ltd.<br>Source: SGS 2014. | Notes: DWT = Drop-Weight Test; SMC = SMC Testing Pty Ltd.<br>Source: SGS 2014. | Notes: DWT = Drop-Weight Test; SMC = SMC Testing Pty Ltd.<br>Source: SGS 2014. | Notes: DWT = Drop-Weight Test; SMC = SMC Testing Pty Ltd.<br>Source: SGS 2014. |

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Key comminution results per lithology are summarized in Table 13 2.

#### Table 13-2: Comminution Test Results per Lithology

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|:---|:---|:---|
| **Lithology Names and Codes** | **Modified Bond Ball Mill Work Index 90th Percentile<br> (kWh/t)** | **Drop Weight Index <br> 90th percentile** |
| Greywacke (S3E) & Gabbro (I1A) | 15.5 | 11.7 |
| Iron formation (C2A) | 15.5 | 12.3 |
| Porphyry (I3P) | 16.4 | 10.7 |
| Overall | 15.6 | 11.7 |
| Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Fifty-three core interval samples were submitted for comminution testing, using material from various lithologies representing the entire deposit and are summarized in Table 13-3

#### Table 13-3: Comminution Tests Results

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|:---|:---|:---|:---|:---|:---|
| **Description** | **JK Parameter** | **JK Parameter** | **Bond Rock <br> Work Index<br> (kWh/t)** | **Ball Mill Work <br> Index<br> (kWh/t)** | **Modified Bond Ball Mill Work Index<br> (kWh/t)** |
| **Description** | **Relative Density** | **Axb** | **Bond Rock <br> Work Index<br> (kWh/t)** | **Ball Mill Work <br> Index<br> (kWh/t)** | **Modified Bond Ball Mill Work Index<br> (kWh/t)** |
| Average | 2.98 | 29.2 | 16.5 | 14.9 | 14.4 |
| Standard Deviation | 0.21 | 3.4 | 0.2 | 1 | 1.2 |
| Minimum | 2.71 | 41 | 16.3 | 13.2 | 11.3 |
| Median | 2.92 | 28.8 | 16.4 | 15.4 | 14.6 |
| Maximum | 3.35 | 24.1 | 16.8 | 16 | 16.5 |
| Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. |

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In terms of resistance to impact breakage (Axb), the samples were found to be hard to very hard. The Bond low-energy indices characterize the samples as medium to moderately hard.

The Bond rock work indices (RWIs) were all similar and considered moderately hard. The ball mill work indices ranged from soft to moderately hard. Abrasion indices denoted a mild to medium abrasive ore.

13.2.2 Characterization and Recovery Test Work

The samples used for the grindability tests were submitted to head-grade determination, mineralogy, magnetic separation, flotation, gravity separation, cyanidation with cyanide destruction, carbon modelling, solid–liquid separation, and environmental testing. Test work summaries related to the current flowsheet are provided below.

The dilution samples were only assayed for direct head grade and were not submitted to any metallurgical test work. In addition, six low-grade composites and a master composite representing the lithological ratios for the first three years of operation were prepared and tested. The proportion of each lithology in the prepared samples is provided in Table 13-4.

#### Table 13-4: Global, Master, Variability, and Low-Grade Sample Composition

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|:---|:---|:---|:---|:---|:---|
| **Composite** | **Lithology Constitution (%)** | **Lithology Constitution (%)** | **Lithology Constitution (%)** | **Lithology Constitution (%)** | **Lithology Constitution (%)** |
| **Composite** | **Wacke to Greywacke <br> S3E** | **Iron Formation <br> C2A** | **Gabbro <br> I1A** | **Porphyry <br> I3P** | **Quartz–Feldspar–Porphyry <br> I3R** |
| Global | 46.2 | 33.5 | 5.3 | 15.1 | - |
| Master | 43.8 | 35.1 | 3.6 | - | 17.5 |
| A | 100 | - | - | - | - |
| B | - | 55.8 | 11.4 | 32.8 | - |
| C | 96.3 | 3.7 | - | - | - |
| D | - | 72.0 | 28.0 | - | - |
| E | 78.3 | - | 21.7 | - | - |
| F | - | 100 | - | - | - |
| G | - | - | - | 100 | - |
| H | - | 100 | - | - | - |
| I | 100 | - | - | - | - |
| S3E-0.5-WCE | 100 | - | - | - | - |
| S3E-0.7-WCE | 100 | - | - | - | - |
| I3P-0.5-WCE | - | - | - | 100 | - |
| I3P-0.7-WCE | - | - | - | 100 | - |
| C2A-0.5-WCE | - | 100 | - | - | - |
| C2A-0.7-WCE | - | 100 | - | - | - |
| Source: SGS 2014.  | Source: SGS 2014.  | Source: SGS 2014.  | Source: SGS 2014.  | Source: SGS 2014.  | Source: SGS 2014.  |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

13.2.2.1 Head Grade Determination

Composite gold head grades were determined by metallic sieve analyses, and a weighted average was calculated from the test work. The direct and calculated gold head grades all correlated well, except for Composites C and F.

Samples were submitted for inductively coupled plasma (ICP) analysis. The concentration of copper, zinc, and nickel does vary significantly between the composites. The sulphide grade ranged from 0.68% to 3.56% and arsenic grade range from 0.029% to 0.280%. The mercury assays for all composites were close to or less than the detection limit of <0.3 g/t. The silver assays were also at the detection limit of <0.5 g/t Ag for the composites, except for Variability Composite A which was 0.8 g/t Ag. In addition, the Global and Variability Composites were also submitted for cyanide soluble copper assay; the majority of samples were reported at the detection limit of <0.002%.

Select assay results are provided in Table 13-5.

#### Table 13-5: Select Head Assays

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|:---|:---|:---|:---|:---|
| **Sample Name** | **Au g/t** | **Au g/t (calculated)** | **As (%)** | **S= (%)** |
| **Composites** | **Composites** | **Composites** | **Composites** | **Composites** |
| Global | 1.74 | 1.92 | 0.100 | 1.70 |
| Master | 1.94 | 2.08 | 0.200 | - |
| A | 2.56 | 2.62 | 0.190 | 1.56 |
| B | 2.04 | 2.19 | 0.150 | 0.85 |
| C | 1.71 | 2.04 | 0.070 | 1.37 |
| D | 1.68 | 1.58 | 0.120 | 3.56 |
| E | 1.18 | 1.39 | 0.110 | 0.99 |
| F | 1.36 | 2.01 | 0.029 | 1.78 |
| G | 1.59 | 1.59 | 0.062 | 0.68 |
| H | 2.65 | 2.59 | 0.074 | 2.92 |
| I | 2.29 | 2.07 | 0.280 | 1.48 |
| **Dilution Samples** | **Dilution Samples** | **Dilution Samples** | **Dilution Samples** | **Dilution Samples** |
| Greywacke | 0.06 | - | 0.016 | 0.40 |
| Iron Formation | <0.01 | - | <0.001 | 0.12 |
| Gabbro | 0.08 | - | 0.025 | 0.18 |
| Porphyry | 0.06 | - | <0.001 | 0.26 |
| Ultramafic | 0.04 | - | 0.064 | 0.08 |
| **Low-Grade Composites** | **Low-Grade Composites** | **Low-Grade Composites** | **Low-Grade Composites** | **Low-Grade Composites** |
| S3E-0.5-WCE | 0.55 | 0.50 | 0.04 | - |
| S3E-0.7-WCE | 0.67 | 0.72 | 0.027 | - |
| I3P-0.5-WCE | 0.46 | 0.49 | 0.002 | - |
| I3P-0.7-WCE | 0.75 | 0.67 | 0.029 | - |
| C2A-0.5-WCE | 0.34 | 0.38 | 0.027 | - |
| C2A-0.7-WCE | 0.85 | 0.82 | 0.014 | - |
| Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

13.2.2.2 Mineralogy

The global and variability composites were submitted for microscopic (>0.5 µm) and submicroscopic (<0.5 µm) gold deportment studies The gold-mineral association and distribution are summarized in Table 13-6.

#### Table 13-6: Gold Deportment Results

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Composite** | **Gold Distribution (%)** | **Gold Distribution (%)** | **Gold Associated Minerals (%—Normalized to 100%)** | **Gold Associated Minerals (%—Normalized to 100%)** | **Gold Associated Minerals (%—Normalized to 100%)** | **Gold Associated Minerals (%—Normalized to 100%)** | **Gold Associated Minerals (%—Normalized to 100%)** | **Gold Associated Minerals (%—Normalized to 100%)** | **Gold Associated Minerals (%—Normalized to 100%)** | **Gold Associated Minerals (%—Normalized to 100%)** |
| **Composite** | **Submicroscopic Gold** | **Microscopic Gold** | **Py** | **Apy** | **Py-Sul** | **FeOx** | **Py-Silc** | **Silc** | **Carb** | **Other** |
| Global | 8.6 | 91.4 | 75.8 | 7.75 | 8.94 | 2.97 | 4.16 | - | - | 0.33 |
| A | 4.8 | 95.2 | 58.6 | 14.3 | 5.69 | 3.14 | 14.9 | - | 1.38 | 1.96 |
| B | 5.7 | 94.4 | 58.4 | 4.66 | 1.33 | 8.24 | 20.8 | 1.85 | 1.38 | 3.43 |
| C | 17.4 | 82.6 | 83.4 | 1.43 | 0.64 | 3.81 | 7.52 | - | 2.85 | 0.36 |
| D | 19.7 | 81.0 | 78.7 | 4.58 | - | 13.6 | - | 0.58 | 2.27 | 0.28 |
| E | 8.3 | 92.7 | 34.3 | - | - | 17.2 | 23.8 | 22.4 | - | 2.25 |
| F | 3.2 | 96.9 | 74.9 | 3.42 | - | 10.6 | 4.62 | 3.53 | - | 2.93 |
| G | 5.7 | 94.3 | 90.3 | 5.38 | 0.99 | 1.18 | 0.59 | - | 1.42 | 0.19 |
| H | 7.8 | 92.2 | 87.9 | 2.54 | - | 0.92 | 0.72 | 7.93 | - | - |
| I | 13.2 | 86.8 | 5.45 | 12.61 | - | - | 0.23 | 80.79 | 0.43 | 0.51 |
| Source: SGS 2014.<br>Notes:<br>Py = pyrite (including greigite); Apy = arsenopyrite and with other sulphides; Py-Sul = pyrite with other sulphides; FeOx = iron oxides; Py-Silc = pyrite with silicates; Silc = silicates; Carb = carbonate minerals and mixture. | Source: SGS 2014.<br>Notes:<br>Py = pyrite (including greigite); Apy = arsenopyrite and with other sulphides; Py-Sul = pyrite with other sulphides; FeOx = iron oxides; Py-Silc = pyrite with silicates; Silc = silicates; Carb = carbonate minerals and mixture. | Source: SGS 2014.<br>Notes:<br>Py = pyrite (including greigite); Apy = arsenopyrite and with other sulphides; Py-Sul = pyrite with other sulphides; FeOx = iron oxides; Py-Silc = pyrite with silicates; Silc = silicates; Carb = carbonate minerals and mixture. | Source: SGS 2014.<br>Notes:<br>Py = pyrite (including greigite); Apy = arsenopyrite and with other sulphides; Py-Sul = pyrite with other sulphides; FeOx = iron oxides; Py-Silc = pyrite with silicates; Silc = silicates; Carb = carbonate minerals and mixture. | Source: SGS 2014.<br>Notes:<br>Py = pyrite (including greigite); Apy = arsenopyrite and with other sulphides; Py-Sul = pyrite with other sulphides; FeOx = iron oxides; Py-Silc = pyrite with silicates; Silc = silicates; Carb = carbonate minerals and mixture. | Source: SGS 2014.<br>Notes:<br>Py = pyrite (including greigite); Apy = arsenopyrite and with other sulphides; Py-Sul = pyrite with other sulphides; FeOx = iron oxides; Py-Silc = pyrite with silicates; Silc = silicates; Carb = carbonate minerals and mixture. | Source: SGS 2014.<br>Notes:<br>Py = pyrite (including greigite); Apy = arsenopyrite and with other sulphides; Py-Sul = pyrite with other sulphides; FeOx = iron oxides; Py-Silc = pyrite with silicates; Silc = silicates; Carb = carbonate minerals and mixture. | Source: SGS 2014.<br>Notes:<br>Py = pyrite (including greigite); Apy = arsenopyrite and with other sulphides; Py-Sul = pyrite with other sulphides; FeOx = iron oxides; Py-Silc = pyrite with silicates; Silc = silicates; Carb = carbonate minerals and mixture. | Source: SGS 2014.<br>Notes:<br>Py = pyrite (including greigite); Apy = arsenopyrite and with other sulphides; Py-Sul = pyrite with other sulphides; FeOx = iron oxides; Py-Silc = pyrite with silicates; Silc = silicates; Carb = carbonate minerals and mixture. | Source: SGS 2014.<br>Notes:<br>Py = pyrite (including greigite); Apy = arsenopyrite and with other sulphides; Py-Sul = pyrite with other sulphides; FeOx = iron oxides; Py-Silc = pyrite with silicates; Silc = silicates; Carb = carbonate minerals and mixture. | Source: SGS 2014.<br>Notes:<br>Py = pyrite (including greigite); Apy = arsenopyrite and with other sulphides; Py-Sul = pyrite with other sulphides; FeOx = iron oxides; Py-Silc = pyrite with silicates; Silc = silicates; Carb = carbonate minerals and mixture. |

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| 13-5 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

13.2.2.3 Gravity Recovery

All composites were subjected to gravity separation testing using a Knelson concentrator and a Mozley table. Based on a series of gravity recovery tests completed with 80% passing various grind sizes, the global composite recovery varied from 15% at 129 µm to 42% at 61 µm; the master composite recovery from 18% at 105 µm to 30% at 61 µm; and the low-grade composite recovery from 5% to 39% at 110 µm.

The variability composites were submitted for a single gravity-separation test at a target grind size of 80% passing (P<sub>80</sub>) 80 µm. The gold recovery varied from 13% to 44% (Figure 13-1).

An Extended-Gravity Recoverable Gold (E-GRG) test was carried out, following the standard protocol provided by Knelson Concentrators, on the global composite to assess the amount of gravity recoverable gold in the sample. The value for the global composite was 47.2%.

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| 13-6 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 13-1: Composite Gravity Recovery Results
![](fig13_1.jpg)

Source: SGS 2014.

13.2.2.4 Cyanidation Testing – Global Composite

The global composite was submitted for a series of leach tests to investigate the effect of grind size, pre-aeration protocol, pulp density, as well as cyanide concentration on gold extraction, and reagent consumption. The program consisted of testing whole of ore and gravity tailings leaching.

Whole of ore leaching test results are summarized in Table 13-7. The final gold extractions of the whole ore leaches ranged from 85% to 93%, and in general, an increase in leach kinetics and final gold extraction was achieved with a finer grind size.

The leach tests that received oxygen sparging had higher gold extractions after 6 hours at grinds of 89 μm and 56 μm than the air sparged tests at comparable grind sizes. This indicates that the oxygen sparging may improve leach kinetics. The test which received no sparging (CN-1) displayed similar leach kinetics to the air sparged test at the same grind size (CN-2) of 132 μm. The air sparged leach tests displayed greater cyanide consumptions than the tests which received no sparging or oxygen sparging. This may be due to volatization of the cyanide as a consequence of the volume of airflow in the air sparged tests (0.8 L/min) increasing the likelihood of the cyanide reporting to the vapour phase. Conversely, the oxygen sparged tests were conducted with a flowrate of 60 mL/min.

The increase in pulp density from 33% to 50% did not result in a significant difference in leach kinetics nor final gold extraction; however, the tests at 50% were at a finer grind size.

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| 13-7 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 13-7: Global Composite Whole-of-Ore Leach Results

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **CN Test No.** | **Sparging** | **Pulp Density %** | **Feed Size (P<sub>80</sub>, µm)** | **NaCN (kg/t)** | **Lime**<br>**(kg/t)** | **% Au Extraction** | **% Au Extraction** | **Residue Au (g/t)** | **Calc Head Au (g/t)** |
| **CN Test No.** | **Sparging** | **Pulp Density %** | **Feed Size (P<sub>80</sub>, µm)** | **NaCN (kg/t)** | **Lime**<br>**(kg/t)** | **6h** | **48h** | **Residue Au (g/t)** | **Calc Head Au (g/t)** |
| CN-1 |  | 33 | 132 | 0.13 | 0.72 | 57.6 | 85.1 | 0.31 | 2.05 |
| CN-2 | air | 33 | 132 | 0.41 | 0.95 | 60.3 | 84.6 | 0.30 | 1.92 |
| CN-7 | air | 50 | 89 | 0.32 | 0.91 | 68.0 | 89.8 | 0.20 | 1.95 |
| CN-11 | air | 50 | 56 | 0.33 | 1.10 | 66.6 | 91.9 | 0.17 | 2.05 |
| CN-3 | oxygen | 33 | 132 | 0.11 | 0.67 | 64.4 | 88.3 | 0.27 | 2.30 |
| CN-8 | oxygen | 50 | 89 | 0.09 | 1.40 | 86.5 | 90.5 | 0.18 | 1.89 |
| CN-12 | oxygen | 50 | 56 | 0.10 | 0.89 | 86.7 | 92.7 | 0.20 | 2.73 |
| CN-12R | oxygen | 50 | 56 | 0.13 | 0.81 | 70.8 | 91.6 | 0.16 | 1.90 |
| Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. |

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Gravity tailings (G-1) leaching test results are summarized in Table 13-8. The gravity tailing (G-1) leach tests had gold extractions that ranged from 81% to 90%, and the overall gold recovery ranged from 84% to 91%. The leaches that received regrinding displayed higher final and overall gold extraction, as well as improved leached kinetics. Similar to the whole ore leaches, the increase in pulp density from 33% to 50% did not result in a significant difference in leach kinetics or final gold extraction but were undertaken at different grind sizes.

Gravity tailings (G-2) leaching test results are summarized in Table 13-9. The gravity tailings (G-2) were subjected to different cyanide concentration and pre-aeration retention times (using oxygen). The leach tests did not display a significant difference in terms of gold extraction with respect to both variables, as the final extractions of all the G-2 leaches ranged from 81% to 84% and the overall gold recovery ranged from 89% to 91%. The reduction in cyanide concentration from 0.5 g/L to 0.3 g/L did not significantly impact the leach kinetics or the final gold extraction.

The pre-aeration applied to the leach pulp oxidizes iron and sulphide minerals, which potentially consume cyanide. The leach tests CN-15 to CN-18 were performed with varying pre-aeration durations ranging from 3.5 to 24 hours. The consumption of cyanide displayed only a very marginal benefit from increasing the pre-aeration over 3.5 hours, as the cyanide consumptions ranged from 0.08 kg/t to 0.10 kg/t. The Carbon-In-Leach (CIL) tests (CN-23, CN-64, CN-69, and CN-70) displayed higher cyanide consumptions compared to the standard leaches at comparable grind sizes and pre-aeration protocol.

#### Table 13-8: Global Composite Gravity Tailings Leach Results (G-1)

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **CN Test No.** | **Sparging** | **Pulp Density %** | **Feed Size (P<sub>80</sub>, µm)** | **NaCN (kg/t)** | **Lime (kg/t)** | **% Au Extraction** | **% Au Extraction** | **% Au Extraction** | **Residue Au (g/t)** | **Calc Head Au (g/t)** |
| **CN Test No.** | **Sparging** | **Pulp Density %** | **Feed Size (P<sub>80</sub>, µm)** | **NaCN (kg/t)** | **Lime (kg/t)** | **6h** | **48h** | **CN+Grav** | **Residue Au (g/t)** | **Calc Head Au (g/t)** |
| CN-4 |  | 33 | 129 | 0.07 | 0.62 | 60.5 | 80.9 | 83.8 | 0.31 | 1.63 |
| CN-5 | air | 33 | 129 | 0.12 | 0.78 | 63.0 | 81.3 | 84.0 | 0.28 | 1.49 |
| CN-9 | air | 50 | 79 | 0.33 | 0.89 | 68.6 | 86.3 | 88.8 | 0.20 | 1.48 |
| CN-13 | air | 50 | 53 | 0.34 | 0.99 | 84.7 | 88.1 | 89.8 | 0.18 | 1.47 |
| CN-6 | oxygen | 33 | 129 | 0.13 | 0.57 | 72.8 | 81.7 | 84.4 | 0.29 | 1.56 |
| CN-70<br>CIL Test<br>| oxygen | 50 | 94 | 0.20 | 0.65 | - | 87.2 | 89.1 | 0.22 | 1.67 |
| CN-10 | oxygen | 50 | 79 | 0.11 | 0.75 | 80.4 | 89.7 | 88.7 | 0.19 | 1.43 |
| CN-14 | oxygen | 50 | 53 | 0.10 | 0.88 | 86.0 | 89.5 | 91.1 | 0.16 | 1.48 |
| Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. |

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| 13-8 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 13-9: Global Composite Gravity Tailings Leach Results (G-2)

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **CN Test No.** | **NaCN (g/L)** | **Sparging (h)** | **Feed Size (P<sub>80</sub>, µm)** | **NaCN (kg/t)** | **Lime (kg/t)** | **% Au Extraction** | **% Au Extraction** | **% Au Extraction** | **Residue Au (g/t)** | **Calc Head Au (g/t)** |
| **CN Test No.** | **NaCN (g/L)** | **Sparging (h)** | **Feed Size (P<sub>80</sub>, µm)** | **NaCN (kg/t)** | **Lime (kg/t)** | **6h** | **48h** | **CN+Grav** | **Residue Au (g/t)** | **Calc Head Au (g/t)** |
| CN-18 | 0.5 | 24 | 67 | 0.08 | 1.14 | 72.7 | 82.6 | 89.2 | 0.20 | 1.15 |
| CN-17 | 0.5 | 12 | 67 | 0.08 | 1.05 | - | 83.1 | 89.5 | 0.20 | 1.18 |
| CN-16 | 0.5 | 8 | 67 | 0.07 | 0.75 | - | 82.7 | 89.3 | 0.21 | 1.19 |
| CN-15 | 0.5 | 3.5 | 67 | 0.10 | 0.67 | 73.9 | 83.4 | 89.7 | 0.20 | 1.18 |
| CN-20 | 0.2 | 3.5 | 67 | 0.03 | 0.73 | 67.6 | 83.5 | 89.7 | 0.20 | 1.21 |
| CN-21 | 0.3 | 3.5 | 67 | 0.07 | 0.72 | 73.8 | 83.1 | 89.5 | 0.20 | 1.18 |
| CN-22 | 0.5 | 3.5 | 67 | 0.07 | 0.62 | 73.8 | 84.3 | 90.2 | 0.19 | 1.21 |
| CN-23<br>CIL Test<br>| 0.5 | 3.5 | 67 | 0.21 | 0.76 | - | 81.9 | 88.8 | 0.21 | 1.16 |
| CN-64<br>CIL Test<br>| 0.5 | 3.5 | 56 | 0.18 | 0.85 | - | 84.6 | 90.5 | 0.18 | 1.17 |
| CN-69<br>CIL Test<br>| 0.5 | 3.5 | 55 | 0.26 | 0.79 | - | 84.4 | 90.3 | 0.18 | 1.12 |
| Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. |

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The effect of grind size on gold recovery was further investigated by performing cyanidation on gravity tailings (Table 13-11). For test G-25, the feed to gravity had a P<sub>80</sub> grind size of 100 μm, the gravity tailing was pulp split into 1 kg charges, two charges were leached as-is, and further portions were reground to P<sub>80</sub> grind sizes of 87 μm and 70 μm. Duplicate leach tests were conducted at each target grind size. Test G-26 was treated the same way but at coarser grind sizes.

The gold extraction ranged from 79% to 84% and the overall gold recovery ranged from 84% to 90%. The combined gravity and cyanidation gold recovery for the G-25 leaches did not vary significantly and ranged from 88% to 89%, the G-26 ranged from 83% to 88%. The leaches at a grind size P<sub>80</sub> of 147 μm display notably higher residue grades and lower overall gold recovery in comparison with the finer leach tests.

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| 13-9 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 13-10: Global Composite Gravity Tailings Leach Results (G-25 and G-26)

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **CN Test No.** | **NaCN (g/L)** | **Sparging (h)** | **Feed Size (P<sub>80</sub>, µm)** | **NaCN (kg/t)** | **Lime (kg/t)** | **% Au Extraction** | **% Au Extraction** | **% Au Extraction** | **Residue Au (g/t)** | **Calc Head Au (g/t)** |
| **CN Test No.** | **NaCN (g/L)** | **Sparging (h)** | **Feed Size (P<sub>80</sub>, µm)** | **NaCN (kg/t)** | **Lime (kg/t)** | **6h** | **48h** | **CN+Grav** | **Residue Au (g/t)** | **Calc Head Au (g/t)** |
| CN-18 | 0.5 | 24 | 67 | 0.08 | 1.14 | 72.7 | 82.6 | 89.2 | 0.20 | 1.15 |
| CN-17 | 0.5 | 12 | 67 | 0.08 | 1.05 | - | 83.1 | 89.5 | 0.20 | 1.18 |
| CN-16 | 0.5 | 8 | 67 | 0.07 | 0.75 | - | 82.7 | 89.3 | 0.21 | 1.19 |
| CN-15 | 0.5 | 3.5 | 67 | 0.10 | 0.67 | 73.9 | 83.4 | 89.7 | 0.20 | 1.18 |
| CN-20 | 0.2 | 3.5 | 67 | 0.03 | 0.73 | 67.6 | 83.5 | 89.7 | 0.20 | 1.21 |
| CN-21 | 0.3 | 3.5 | 67 | 0.07 | 0.72 | 73.8 | 83.1 | 89.5 | 0.20 | 1.18 |
| CN-22 | 0.5 | 3.5 | 67 | 0.07 | 0.62 | 73.8 | 84.3 | 90.2 | 0.19 | 1.21 |
| CN-23<br>CIL Test<br>| 0.5 | 3.5 | 67 | 0.21 | 0.76 | - | 81.9 | 88.8 | 0.21 | 1.16 |
| CN-64<br>CIL Test<br>| 0.5 | 3.5 | 56 | 0.18 | 0.85 | - | 84.6 | 90.5 | 0.18 | 1.17 |
| CN-69<br>CIL Test<br>| 0.5 | 3.5 | 55 | 0.26 | 0.79 | - | 84.4 | 90.3 | 0.18 | 1.12 |
| Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. |

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The leach tests from the G-25 and G-26 were compared to other leach tests in terms of overall gold recovery as a function of grind size. Figure 13-2 contains all Global Composite leach tests that had a 48-hour retention time and indicates a finer grind will lead to improved gold recovery.

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| 13-10 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 13-2: Gold Recovery as a Function of Grind Size (Global Composite)
Source: SGS 2014.

Gravity tailings of the global composite and the variability composites underwent cyanidation testing at P<sub>80 </sub>grind sizes of 80 µm and P<sub>80</sub> of 60 µm. The finer grind resulted in improved gold extractions for all the samples (86% to 95% recovery versus 78% to 90%).

The master composite was submitted for leach optimization testing. The effects of grind size, residence time, lead nitrate addition, pH, and carbon concentration were examined. The grind size had the most impact on gold extraction, while a 2% gold recovery increase was observed when increasing the retention time from 32 to 72 hours. The gold recovery was between 85% and 89%.

The low-grade composites were also submitted to cyanidation testing. Gold recovery and leach kinetics improved at finer grind sizes, ranging from 80% to 95%.

13.2.2.5 Cyanidation Testing – Global and Variability Composites

The global and variability composites were submitted for leach tests at P<sub>80 </sub>grind sizes of 80 μm and 60 μm.

The pre-aeration was conducted with oxygen for a period of 4 hours, and for the 60 μm leach series the oxygen line was left in during the leach, at a reduced flowrate. The results are summarized in Table 13-11. The final gold extractions ranged from 78% to 90% for the 80 μm leach series. The final gold extractions of the 60 μm leach series ranged from 83% to 94%. The finer grind resulted in an increase in gold extraction for each of the composites.

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| 13-11 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

The combined gold recovery of the 80 μm leach series ranged from 83% to 93%, and for the 60 μm leach series ranged from 86% to 95%. For both leach series, the variability composite D reported the lowest combined recovery and variability composite F reported the highest recovery. The 24-hour subsample of the global and variability composites E and G from the 80 μm leach series indicated that a significant amount of gold was extracted in the last 8 hours of the test.

#### Table 13-11: Gravity Tailings Leach Results

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|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **CN Test No.** | **Gravity #** | **Comp** | **Feed Size (P<sub>80</sub>, µm)** | **NaCN (kg/t)** | **Lime (kg/t)** | **% Au Extraction** | **% Au Extraction** | **% Au Extraction** | **Residue Au (g/t)** | **Calc Head Au (g/t)** |
| **CN Test No.** | **Gravity #** | **Comp** | **Feed Size (P<sub>80</sub>, µm)** | **NaCN (kg/t)** | **Lime (kg/t)** | **32h** | **Grav** | **CN+Grav** | **Residue Au (g/t)** | **Calc Head Au (g/t)** |
| CN-33 | G-12 | Global | 78 | 0.04 | 0.66 | 82.4 | 32.5 | 88.2 | 0.24 | 1.89 |
| CN-34 | G-12 | Global | 48 | 0.06 | 0.81 | 86.2 | 32.5 | 90.7 | 0.17 | 1.89 |
| CN-24 | G-3 | A | 74 | 0.04 | 0.62 | 83.4 | 43.7 | 90.7 | 0.24 | 2.62 |
| CN-35 | G-3 | A | 33 | 0.08 | 0.82 | 87.9 | 43.7 | 93.2 | 0.17 | 2.62 |
| CN-25 | G-4 | B | 72 | 0.05 | 0.60 | 82.5 | 37.8 | 89.1 | 0.24 | 2.19 |
| CN-36 | G-4 | B | 44 | 0.04 | 0.81 | 85.8 | 37.8 | 91.2 | 0.19 | 2.19 |
| CN-26 | G-5 | C | 77 | 0.01 | 0.64 | 79.8 | 42.4 | 88.4 | 0.25 | 2.04 |
| CN-37 | G-5 | C | 30 | 0.08 | 0.82 | 84.8 | 42.4 | 91.2 | 0.19 | 2.04 |
| CN-27 | G-6 | D | 84 | 0.09 | 0.89 | 80.4 | 13.2 | 82.9 | 0.27 | 1.58 |
| CN-38 | G-6 | D | 47 | 0.16 | 1.18 | 83.3 | 13.2 | 85.5 | 0.23 | 1.58 |
| CN-28 | G-7 | E | 75 | 0.09 | 0.59 | 78.3 | 27.3 | 84.3 | 0.23 | 1.39 |
| CN-39 | G-7 | E | 43 | 0.05 | 0.81 | 83.1 | 27.3 | 87.7 | 0.17 | 1.39 |
| CN-29 | G-8 | F | 76 | 0.04 | 0.72 | 90.7 | 20.2 | 92.6 | 0.15 | 2.01 |
| CN-40 | G-8 | F | 46 | 0.03 | 0.97 | 94.3 | 20.2 | 95.4 | 0.10 | 2.01 |
| CN-30 | G-9 | G | 86 | 0.02 | 0.45 | 83.2 | 40.0 | 89.9 | 0.14 | 1.59 |
| CN-41 | G-9 | G | 40 | 0.05 | 0.82 | 89.6 | 40.0 | 93.7 | 0.09 | 1.59 |
| CN-32 | G-10 | H | 70 | 0.05 | 0.79 | 86.5 | 25.1 | 89.9 | 0.28 | 2.59 |
| CN-42 | G-10 | H | 46 | 0.10 | 0.99 | 89.6 | 25.1 | 92.2 | 0.22 | 2.59 |
| CN-33 | G-11 | I | 71 | 0.05 | 0.60 | 80.2 | 29.8 | 86.1 | 0.30 | 2.07 |
| CN-43 | G-11 | I | 39 | 0.09 | 1.07 | 84 | 29.8 | 88.8 | 0.23 | 2.07 |
| Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. |

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13.2.2.6 Cyanidation Testing – Low Grade Composites

Low-grade composites were submitted for cyanidation testing using 1 kg gravity tailing samples to investigate the extraction of gold under standard cyanidation conditions. The effect of grind size on gold extraction, leach kinetics, and reagent consumption was also examined by applying a regrind to samples of gravity tailings prior to cyanidation.

The pre-aeration was conducted with oxygen for a period of 4 hours; for the leach tests the oxygen line was left in during the leach, at a reduced flowrate.

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| 13-12 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

For each of the composites, the initial leach test was performed at a grind size of approximately 110 μm, and the 60 μm leach tests were reground in a rod mill prior to cyanidation.

The final gold extraction of the Greywacke leach tests ranged from 72% to 92%. The 0.5 g/t Au feed showed an increase in gold extraction and leach kinetics at the finer grind. The 0.7 g/t Au feed composite did not follow this trend. This may be due to the variation in calculated head grade, which is significant between the 105 μm and 59 μm leach tests for pulp splitting. The overall gold recovery (combined gravity and cyanidation) ranged from 80% to 95% and was not heavily influenced by grind size for the 0.7 g/t Au feed composite.

The final gold extractions of the Porphyry with minor Greywacke leach tests ranged from 73% to 93%. The 0.5 g/t feed showed an increase in gold extraction and leach kinetics at the finer grind. The 0.7 g/t feed composite displayed the same extent of gold extraction at both grind targets. The overall gold recovery ranged from 82% to 95% and was not heavily influenced by grind size for the 0.7 g/t feed composite, similar to the Greywacke lithology tests.

The final gold extractions of the Iron Formation leach tests ranged from 89% to 92%. For both feed grades, the effect of a finer grind resulted in only a slight increase extraction. The previous gravity separation of both composites contributed very little to the overall gold recovery but did display a slight increase with a fine grind.

The calculated head and direct head grades did not display a consistent correlation with the designed head grades. This can be attributed to difficulties in obtaining representative assay samples and therefore consistent head grades from core that contains coarse gold. The gravity recovery of the Greywacke and Porphyry with minor Greywacke composites strongly indicates that coarse gold is present.

The consumption of cyanide increased with a finer grind for the majority of composites tested. The consumption of lime increased with the finer grind for each of the composites tested.

13.2.2.7 Cyanide Destruction

The bulk leach product of the global and variability composites was subjected to a single-stage cyanide-destruction test to determine the samples' amenability to detoxification using the conventional SO<sub>2</sub>/Air process. The objective of the test was to achieve weak acid-dissociable cyanide (CNWAD) levels below 1 mg/L.

The global and variability composites A, B, G, and I were the most difficult to treat. A retention time of 120 minutes, 30 to 45 mg/L of copper sulphate, and more than 7.0 g of sulphur dioxide per gram of CNWAD were required to meet the target. Variability composites D, E, and F also required 120 minutes of retention time, but reagents addition was lower, i.e., 20 mg/L to 30 mg/L of copper sulphate and 5.7 g to 6.1 g of sulphur dioxide per gram of CNWAD. Finally, variability composites C and H required only 60 to 90 minutes of retention and 5.5 g of sulphur dioxide per gram of CNWAD. It was also found that there is a strong relationship between the residual iron and the total cyanide (CNT). The residence time and copper sulphate addition can be increased to reduce total cyanide levels further.

A two-stage cyanide destruction test was carried out on the global composite. The CNWAD and CNT were reduced to the targeted 1 mg/L in 90 minutes by adding 45 mg/L of copper sulphate and 7.32 g of sulphur dioxide per gram of CNWAD. A shorter retention time of 60 minutes during test CND12-4 led to an increased concentration of CNT in the cyanide-destruction discharge solution (Table 13-12). This indicates that the International Cyanide Management Institute (ICMI) limit of 50 mg/L could be achieved within a 60-minute retention period, probably with lower reagent consumption; however, no test work has been done to quantify the retention reduction.

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| 13-13 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 13-12: Two-Stage Cyanide Destruction Discharge Solution Analysis

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Test No.** | **Solution** | **Analysis (mg/L)** | **Analysis (mg/L)** | **Analysis (mg/L)** | **Analysis (mg/L)** | **Analysis (mg/L)** | **Analysis (mg/L)** | **Analysis (mg/L)** | **Analysis (mg/L)** | **Analysis (mg/L)** |
| **Test No.** | **Solution** | **Fe** | **Cu** | **CNT** | **CNWAD** | **CNS** | **CNO** | **NH3** | **NO<sub>2</sub>** | **NO<sub>3</sub>** |
| CN-94 | Final Barren | 1.76 | 6.87 | 258 | 204 | 40 | 39 | 1.00 | - | - |
| CND12-2 | Final Destruction (R2) | 0.26 | 0.11 | 0.63 | 0.08 | 46 | 120 | 12.2 | <0.3 | <0.6 |
| CND12-4 | Final Destruction (R2) | 2.22 | 0.11 | 6.07 | 0.04 | 55 | 190 | 5.3 | <0.3 | <0.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Source: SGS 2014<br>Notes:<br>CND12 was a two-stage cyanide destruction; the final solution is the discharge from the second reaction vessel.<br>CNT total cyanide<br>CNWAD weak acid-dissociable cyanide, CNS critical solids density<br>CNO cyanate<br>NH<sub>3</sub> ammonia, NO<sub>2</sub> nitrogen dioxide, NO<sub>3</sub> nitrate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Source: SGS 2014<br>Notes:<br>CND12 was a two-stage cyanide destruction; the final solution is the discharge from the second reaction vessel.<br>CNT total cyanide<br>CNWAD weak acid-dissociable cyanide, CNS critical solids density<br>CNO cyanate<br>NH<sub>3</sub> ammonia, NO<sub>2</sub> nitrogen dioxide, NO<sub>3</sub> nitrate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Source: SGS 2014<br>Notes:<br>CND12 was a two-stage cyanide destruction; the final solution is the discharge from the second reaction vessel.<br>CNT total cyanide<br>CNWAD weak acid-dissociable cyanide, CNS critical solids density<br>CNO cyanate<br>NH<sub>3</sub> ammonia, NO<sub>2</sub> nitrogen dioxide, NO<sub>3</sub> nitrate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Source: SGS 2014<br>Notes:<br>CND12 was a two-stage cyanide destruction; the final solution is the discharge from the second reaction vessel.<br>CNT total cyanide<br>CNWAD weak acid-dissociable cyanide, CNS critical solids density<br>CNO cyanate<br>NH<sub>3</sub> ammonia, NO<sub>2</sub> nitrogen dioxide, NO<sub>3</sub> nitrate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Source: SGS 2014<br>Notes:<br>CND12 was a two-stage cyanide destruction; the final solution is the discharge from the second reaction vessel.<br>CNT total cyanide<br>CNWAD weak acid-dissociable cyanide, CNS critical solids density<br>CNO cyanate<br>NH<sub>3</sub> ammonia, NO<sub>2</sub> nitrogen dioxide, NO<sub>3</sub> nitrate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Source: SGS 2014<br>Notes:<br>CND12 was a two-stage cyanide destruction; the final solution is the discharge from the second reaction vessel.<br>CNT total cyanide<br>CNWAD weak acid-dissociable cyanide, CNS critical solids density<br>CNO cyanate<br>NH<sub>3</sub> ammonia, NO<sub>2</sub> nitrogen dioxide, NO<sub>3</sub> nitrate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Source: SGS 2014<br>Notes:<br>CND12 was a two-stage cyanide destruction; the final solution is the discharge from the second reaction vessel.<br>CNT total cyanide<br>CNWAD weak acid-dissociable cyanide, CNS critical solids density<br>CNO cyanate<br>NH<sub>3</sub> ammonia, NO<sub>2</sub> nitrogen dioxide, NO<sub>3</sub> nitrate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Source: SGS 2014<br>Notes:<br>CND12 was a two-stage cyanide destruction; the final solution is the discharge from the second reaction vessel.<br>CNT total cyanide<br>CNWAD weak acid-dissociable cyanide, CNS critical solids density<br>CNO cyanate<br>NH<sub>3</sub> ammonia, NO<sub>2</sub> nitrogen dioxide, NO<sub>3</sub> nitrate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Source: SGS 2014<br>Notes:<br>CND12 was a two-stage cyanide destruction; the final solution is the discharge from the second reaction vessel.<br>CNT total cyanide<br>CNWAD weak acid-dissociable cyanide, CNS critical solids density<br>CNO cyanate<br>NH<sub>3</sub> ammonia, NO<sub>2</sub> nitrogen dioxide, NO<sub>3</sub> nitrate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Source: SGS 2014<br>Notes:<br>CND12 was a two-stage cyanide destruction; the final solution is the discharge from the second reaction vessel.<br>CNT total cyanide<br>CNWAD weak acid-dissociable cyanide, CNS critical solids density<br>CNO cyanate<br>NH<sub>3</sub> ammonia, NO<sub>2</sub> nitrogen dioxide, NO<sub>3</sub> nitrate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Source: SGS 2014<br>Notes:<br>CND12 was a two-stage cyanide destruction; the final solution is the discharge from the second reaction vessel.<br>CNT total cyanide<br>CNWAD weak acid-dissociable cyanide, CNS critical solids density<br>CNO cyanate<br>NH<sub>3</sub> ammonia, NO<sub>2</sub> nitrogen dioxide, NO<sub>3</sub> nitrate |

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13.2.2.8 Solid–Liquid Separation and Rheology

The global composite and variability composites C, F, and G cyanide-destruction discharge samples were subjected to flocculant selection, static settling, dynamic settling, and underflow rheology tests and are summarized in Table 13-13.

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| 13-14 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 13-13: Dynamic-Settling Test Results

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| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sample ID** | **Flocculant <br> (BASF)** | **Dosage <br> (g/t dry)** | **Dry Solids <br> SG** | **U/F<sup>1</sup> <br> (% wt)** | **U/F <br> Extended <br> (% wt)** | **TUFUA<sup>2</sup> <br> (m<sup>2</sup>/t/d)** | **THUA<sup>3</sup> <br> (m<sup>2</sup>/t/d)** | **Net Rise <br> Rate <br> (m<sup>3</sup>/m<sup>2</sup>/d)** | **Solids <br> Loading <br> (t/m<sup>2</sup>/d)** | **Net Hydraulic <br> Loading <br> (m<sup>3</sup>/m<sup>2</sup>/d)** | **Residence <br> Time <br> (h)** | **Overflow <br> (Visual)** | **TSS<sup>4</sup> <br> (mg/L)** |
| CND-1 Global Composite | Magnafloc 10 | 15 | 2.88 | 64.5 | 63.9 | 0.090 | 0.042 | 61.1 | 0.462 | 2.54 | 1.12 | Clear | 27 |
| CND-2 Variability Composite C | Magnafloc 10 | 17 | 2.82 | 63.5 | 63.7 | 0.080 | 0.019 | 68.6 | 0.519 | 2.86 | 0.95 | Clear | 10 |
| CND-3 Variability Composite F | Magnafloc 10 | 15 | 3.19 | 70 | 71.5 | 0.080 | 0.026 | 68.8 | 0.520 | 2.87 | 1.04 | Clear | 12 |
| CND-4 Variability Composite G | Magnafloc 10 | 18 | 2.74 | 64.2 | 67.1 | 0.100 | 0.030 | 54.6 | 0.415 | 2.28 | 1.19 | Clear | 43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Source: SGS 2014.<br>Notes:<br>All values were calculated without a safety factor. Key underflow rheology data were included in the rheology section.<br>Common test conditions: Autodiluted thickener feed % solids = 15% w/w solids.<br>Solution SG –1.000.<br><sup>1</sup> Ultimate underflow density.<br><sup>2</sup> Thickener underflow unit area.<br><sup>3</sup> Thickener hydraulic unit area.<br><sup>4</sup> Total suspended solids of the overflow. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Source: SGS 2014.<br>Notes:<br>All values were calculated without a safety factor. Key underflow rheology data were included in the rheology section.<br>Common test conditions: Autodiluted thickener feed % solids = 15% w/w solids.<br>Solution SG –1.000.<br><sup>1</sup> Ultimate underflow density.<br><sup>2</sup> Thickener underflow unit area.<br><sup>3</sup> Thickener hydraulic unit area.<br><sup>4</sup> Total suspended solids of the overflow. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Source: SGS 2014.<br>Notes:<br>All values were calculated without a safety factor. Key underflow rheology data were included in the rheology section.<br>Common test conditions: Autodiluted thickener feed % solids = 15% w/w solids.<br>Solution SG –1.000.<br><sup>1</sup> Ultimate underflow density.<br><sup>2</sup> Thickener underflow unit area.<br><sup>3</sup> Thickener hydraulic unit area.<br><sup>4</sup> Total suspended solids of the overflow. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Source: SGS 2014.<br>Notes:<br>All values were calculated without a safety factor. Key underflow rheology data were included in the rheology section.<br>Common test conditions: Autodiluted thickener feed % solids = 15% w/w solids.<br>Solution SG –1.000.<br><sup>1</sup> Ultimate underflow density.<br><sup>2</sup> Thickener underflow unit area.<br><sup>3</sup> Thickener hydraulic unit area.<br><sup>4</sup> Total suspended solids of the overflow. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Source: SGS 2014.<br>Notes:<br>All values were calculated without a safety factor. Key underflow rheology data were included in the rheology section.<br>Common test conditions: Autodiluted thickener feed % solids = 15% w/w solids.<br>Solution SG –1.000.<br><sup>1</sup> Ultimate underflow density.<br><sup>2</sup> Thickener underflow unit area.<br><sup>3</sup> Thickener hydraulic unit area.<br><sup>4</sup> Total suspended solids of the overflow. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Source: SGS 2014.<br>Notes:<br>All values were calculated without a safety factor. Key underflow rheology data were included in the rheology section.<br>Common test conditions: Autodiluted thickener feed % solids = 15% w/w solids.<br>Solution SG –1.000.<br><sup>1</sup> Ultimate underflow density.<br><sup>2</sup> Thickener underflow unit area.<br><sup>3</sup> Thickener hydraulic unit area.<br><sup>4</sup> Total suspended solids of the overflow. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Source: SGS 2014.<br>Notes:<br>All values were calculated without a safety factor. Key underflow rheology data were included in the rheology section.<br>Common test conditions: Autodiluted thickener feed % solids = 15% w/w solids.<br>Solution SG –1.000.<br><sup>1</sup> Ultimate underflow density.<br><sup>2</sup> Thickener underflow unit area.<br><sup>3</sup> Thickener hydraulic unit area.<br><sup>4</sup> Total suspended solids of the overflow. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Source: SGS 2014.<br>Notes:<br>All values were calculated without a safety factor. Key underflow rheology data were included in the rheology section.<br>Common test conditions: Autodiluted thickener feed % solids = 15% w/w solids.<br>Solution SG –1.000.<br><sup>1</sup> Ultimate underflow density.<br><sup>2</sup> Thickener underflow unit area.<br><sup>3</sup> Thickener hydraulic unit area.<br><sup>4</sup> Total suspended solids of the overflow. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Source: SGS 2014.<br>Notes:<br>All values were calculated without a safety factor. Key underflow rheology data were included in the rheology section.<br>Common test conditions: Autodiluted thickener feed % solids = 15% w/w solids.<br>Solution SG –1.000.<br><sup>1</sup> Ultimate underflow density.<br><sup>2</sup> Thickener underflow unit area.<br><sup>3</sup> Thickener hydraulic unit area.<br><sup>4</sup> Total suspended solids of the overflow. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Source: SGS 2014.<br>Notes:<br>All values were calculated without a safety factor. Key underflow rheology data were included in the rheology section.<br>Common test conditions: Autodiluted thickener feed % solids = 15% w/w solids.<br>Solution SG –1.000.<br><sup>1</sup> Ultimate underflow density.<br><sup>2</sup> Thickener underflow unit area.<br><sup>3</sup> Thickener hydraulic unit area.<br><sup>4</sup> Total suspended solids of the overflow. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Source: SGS 2014.<br>Notes:<br>All values were calculated without a safety factor. Key underflow rheology data were included in the rheology section.<br>Common test conditions: Autodiluted thickener feed % solids = 15% w/w solids.<br>Solution SG –1.000.<br><sup>1</sup> Ultimate underflow density.<br><sup>2</sup> Thickener underflow unit area.<br><sup>3</sup> Thickener hydraulic unit area.<br><sup>4</sup> Total suspended solids of the overflow. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Source: SGS 2014.<br>Notes:<br>All values were calculated without a safety factor. Key underflow rheology data were included in the rheology section.<br>Common test conditions: Autodiluted thickener feed % solids = 15% w/w solids.<br>Solution SG –1.000.<br><sup>1</sup> Ultimate underflow density.<br><sup>2</sup> Thickener underflow unit area.<br><sup>3</sup> Thickener hydraulic unit area.<br><sup>4</sup> Total suspended solids of the overflow. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Source: SGS 2014.<br>Notes:<br>All values were calculated without a safety factor. Key underflow rheology data were included in the rheology section.<br>Common test conditions: Autodiluted thickener feed % solids = 15% w/w solids.<br>Solution SG –1.000.<br><sup>1</sup> Ultimate underflow density.<br><sup>2</sup> Thickener underflow unit area.<br><sup>3</sup> Thickener hydraulic unit area.<br><sup>4</sup> Total suspended solids of the overflow. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Source: SGS 2014.<br>Notes:<br>All values were calculated without a safety factor. Key underflow rheology data were included in the rheology section.<br>Common test conditions: Autodiluted thickener feed % solids = 15% w/w solids.<br>Solution SG –1.000.<br><sup>1</sup> Ultimate underflow density.<br><sup>2</sup> Thickener underflow unit area.<br><sup>3</sup> Thickener hydraulic unit area.<br><sup>4</sup> Total suspended solids of the overflow. |

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| 13-15 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

The rheology tests were performed on the underflow samples generated under optimized settling conditions. The critical solids density (CSD) for each sample is presented in Table 13-14. The CSD is the solids density at which a small increase in density causes a significant decrease in flowability. It also predicts the maximum solids density that is achievable in an industrial thickener and is practical for pumping.

All the underflow samples displayed Bingham plastic behaviour, and the CSD for all four samples varied between 65% and 69% solids.

#### Table 13-14: Underflow Rheology Test Results

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| | | | | |
|:---|:---|:---|:---|:---|
| **Sample ID** | **CSD<br> (wt % solids)** | **Yield Stress (Pa)** | **Yield Stress (Pa)** | **Flow Behaviour & Range <br> (wt % solids)<br> Thixotropy** |
| **Sample ID** | **CSD<br> (wt % solids)** | **Unsheared** | **Sheared** | **Flow Behaviour & Range <br> (wt % solids)<br> Thixotropy** |
| CND-1 Global Composite | 66 | 33 | 14 | 60.5–68.9 |
| CND-2 Variability Composite C | 65 | 31 | 15 | 60.0–68.0 |
| CND-3 Variability Composite F | 69 | 35 | 10 | 63.1–73.4 |
| CND-4 Variability Composite G | 67 | 40 | 14 | 61.4–70.4 |
| Source: SGS 2014.<br>Note: CSD = Rheology-determined critical solids density. | Source: SGS 2014.<br>Note: CSD = Rheology-determined critical solids density. | Source: SGS 2014.<br>Note: CSD = Rheology-determined critical solids density. | Source: SGS 2014.<br>Note: CSD = Rheology-determined critical solids density. | Source: SGS 2014.<br>Note: CSD = Rheology-determined critical solids density. |

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13.2.3 HPGR Test Work

The high pressure grinding rolls (HPGR) testing program objectives were threefold. First, laboratory-scale tests (batch and locked-cycle) were performed to determine the amenability of the ore to HPGR milling and yield data to allow a preliminary sizing to be done. Then, abrasion tests were completed to provide the data necessary to predict the service life of the rolls. Finally, a large-scale pilot-plant test was completed to size the equipment adequately. Bond grindability testing was included in the scope of work to evaluate the BWI reduction of the HPGR product compared to the feed.

ThyssenKrupp is affiliated with SGS Minerals for the HPGR laboratory scale tests (Labwal). The abrasion tests (ATWAL) and the pilot-plant test were performed at ThyssenKrupp's Resource Technologies Research Center.

Samples from each major lithology (greywacke, iron formation, and porphyry) were prepared and sent to the ThyssenKrupp laboratory for the Labwal tests. A representative composite sample was made from the samples. The pilot-plant composite sample was prepared at the same time to ensure the samples used for the laboratory-scale tests and future pilot-scale tests would have the same characteristics. Table 13-15 summarizes the sample preparation details.

#### Table 13-15: HPGR Test Sample Preparation Details

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Samples** | **Material Weight Distribution (kg)** | **Material Weight Distribution (kg)** | **Material Weight Distribution (kg)** | **Material Weight Distribution (kg)** | **Material Weight Distribution (kg)** | **Material Weight Distribution (kg)** | **Compositing Ratio <br> (%)** |
| **Samples** | **Received** | **Stored<sup>1</sup>** | **HPGR Testing** | **ATWAL** | **Compositing** | **Left Over** | **Compositing Ratio <br> (%)** |
| Greywacke | 969 | 594 | 165 | 210 | 594 | 0 | 50.5 |
| Iron Formation | 791 | 416 | 165 | 210 | 343 | 73 | 29.1 |
| Porphyry | 710 | 335 | 165 | 210 | 240 | 95 | 20.4 |
| HPGR Comp | 0 | - | 1178 | 0 | 1178 | 0 | 100.0 |
| Total | 2471 | - | 1673 | 630 | - | 168 | - |
| Source: SGS 2014.<br>Notes:<br><sup>1</sup> Material set aside for the composite.<br>HPGR = high-pressure grinding roll. | Source: SGS 2014.<br>Notes:<br><sup>1</sup> Material set aside for the composite.<br>HPGR = high-pressure grinding roll. | Source: SGS 2014.<br>Notes:<br><sup>1</sup> Material set aside for the composite.<br>HPGR = high-pressure grinding roll. | Source: SGS 2014.<br>Notes:<br><sup>1</sup> Material set aside for the composite.<br>HPGR = high-pressure grinding roll. | Source: SGS 2014.<br>Notes:<br><sup>1</sup> Material set aside for the composite.<br>HPGR = high-pressure grinding roll. | Source: SGS 2014.<br>Notes:<br><sup>1</sup> Material set aside for the composite.<br>HPGR = high-pressure grinding roll. | Source: SGS 2014.<br>Notes:<br><sup>1</sup> Material set aside for the composite.<br>HPGR = high-pressure grinding roll. | Source: SGS 2014.<br>Notes:<br><sup>1</sup> Material set aside for the composite.<br>HPGR = high-pressure grinding roll. |

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| 13-16 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

13.2.3.1 Labwal Test Results

The results of the Labwal tests are summarized in Table 13-16. The locked-cycle tests were performed using the optimal-batch test conditions. One of the parameters used to determine the optimal conditions was the HPGR product fineness as a function of applied pressure. The test results were used in SGS's comminution circuit simulations to size the HPGR.

#### Table 13-16: Labwal Test Results

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| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sample Name** | **HPGR Batch Test** | **HPGR Batch Test** | **HPGR Batch Test** | **HPGR Batch Test** | **HPGR Batch Test** | **HPGR Batch Test** | **HPGR Locked-Cycle Test** | **HPGR Locked-Cycle Test** | **HPGR Locked-Cycle Test** | **HPGR Locked-Cycle Test** | **HPGR Locked-Cycle Test** | **HPGR Locked-Cycle Test** |
| **Sample Name** | **Operating Press.<br> (bar)** | **(t/h)** | **Net<br> (kWh/t)** | **N/m2** | **mf** | **P80<br> (mm)** | **(t/h)** | **Net<br> (kWh/t)** | **N/mm2** | **mf** | **CL<br> (%)** | **P80** |
| Greywacke | 35 | 2.9 | 1.04 | 1.75 | 255 | 5.259 | - | - | - | - | - | - |
| Greywacke | 60 | 2.7 | 1.66 | 2.99 | 239 | 4.321 | - | - | - | - | - | - |
| Greywacke | 72 | 2.7 | 2.02 | 3.59 | 236 | 3.904 | 1.8 | 2.60 | 3.25 | 230 | 46 | 2.218 |
| Iron Formation | 36 | 3.1 | 0.97 | 1.79 | 273 | 4.731 | - | - | - | - | - | - |
| Iron Formation | 60 | 3 | 1.55 | 3.00 | 263 | 4.074 | 1.9 | 2.06 | 2.76 | 260 | 52 | 2.226 |
| Iron Formation | 72 | 2.9 | 1.80 | 3.57 | 255 | 4.024 | - | - | - | - | - | - |
| Porphyry | 34 | 2.6 | 1.01 | 1.70 | 233 | 5.243 | - | - | - | - | - | - |
| Porphyry | 58 | 2.5 | 1.69 | 2.87 | 221 | 4.184 | 1.7 | 2.31 | 2.74 | 224 | 52 | 2.067 |
| Porphyry | 70 | 2.4 | 1.96 | 3.48 | 216 | 4.060 | - | - | - | - | - | - |
| HPGR Comp. | - | - | - | - | - | - | 1.8 | 2.59 | 3.22 | 240 | 48 | 2112 |
| Source: SGS 2014.<br>Notes:<br>CL = circulating load; HPGR = high-pressure grinding roll; mf = specific throughput. | Source: SGS 2014.<br>Notes:<br>CL = circulating load; HPGR = high-pressure grinding roll; mf = specific throughput. | Source: SGS 2014.<br>Notes:<br>CL = circulating load; HPGR = high-pressure grinding roll; mf = specific throughput. | Source: SGS 2014.<br>Notes:<br>CL = circulating load; HPGR = high-pressure grinding roll; mf = specific throughput. | Source: SGS 2014.<br>Notes:<br>CL = circulating load; HPGR = high-pressure grinding roll; mf = specific throughput. | Source: SGS 2014.<br>Notes:<br>CL = circulating load; HPGR = high-pressure grinding roll; mf = specific throughput. | Source: SGS 2014.<br>Notes:<br>CL = circulating load; HPGR = high-pressure grinding roll; mf = specific throughput. | Source: SGS 2014.<br>Notes:<br>CL = circulating load; HPGR = high-pressure grinding roll; mf = specific throughput. | Source: SGS 2014.<br>Notes:<br>CL = circulating load; HPGR = high-pressure grinding roll; mf = specific throughput. | Source: SGS 2014.<br>Notes:<br>CL = circulating load; HPGR = high-pressure grinding roll; mf = specific throughput. | Source: SGS 2014.<br>Notes:<br>CL = circulating load; HPGR = high-pressure grinding roll; mf = specific throughput. | Source: SGS 2014.<br>Notes:<br>CL = circulating load; HPGR = high-pressure grinding roll; mf = specific throughput. | Source: SGS 2014.<br>Notes:<br>CL = circulating load; HPGR = high-pressure grinding roll; mf = specific throughput. |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

13.2.3.2 ATWAL Tests Results

The results of the ATWAL tests are summarized in Table 13-17. The greywacke sample was the most abrasive, followed by the porphyry and the iron formation, which showed similar wear rates. According to these results, all the samples were classified as low to medium abrasiveness when dry (1% moisture) or wet (3% moisture).

#### Table 13-17: ATWAL Tests Results

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|:---|:---|:---|:---|:---|
| **Ore** | **Test No.** | **Moisture <br> (%)** | **Grinding Force <br> (N/mm2)** | **Wear Rate <br> (g/t)** |
| Greywacke | A1 | 1 | 4 | 17.7 |
| Greywacke | A2 | 3 | 4 | 20.5 |
| Iron Formation | A1 | 1 | 4 | 15.6 |
| Iron Formation | A2 | 3 | 4 | 17.3 |
| Porphyry | A1 | 1 | 4 | 16.6 |
| Porphyry | A2 | 3 | 4 | 17 |
| Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. | Source: SGS 2014. |

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13.2.3.3 Bond Ball Mill Grindability Tests Results

Bond grindability tests were performed at 106 µm on the four HPGR feed samples and the four corresponding HPGR locked-cycle test products. Three additional tests were performed on the HPGR products using the particle-size distribution of the HPGR feed samples (HPGR adjusted product samples).

The HPGR feed samples varied in terms of hardness from medium (iron formation) to moderately hard (greywacke and composite) to hard (porphyry). When comparing the BWI values, the HPGR products were considerably softer, and all fell into the medium hardness category, except for the porphyry sample that varied from hard to moderately hard. Results are summarized in Table 13-18.

#### Table 13-18: Bond Ball Mill Grindability Tests Results

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sample Name** | **Grind<br> Mesh** | **F<sub>80</sub> <br> (µm)** | **P<sub>80</sub> <br> (µm)** | **Grams per <br> Revolution** | **BWI <br> (kWh/t)** | **% <br> Reduction** | **Hardness <br> Percentile** | **Feed Passing <br> (%)** |
| Greywacke | 150 | 2477 | 79 | 1.16 | 16.1 | - | 70 | 10.5 |
| Greywacke HPGR Product | 150 | 2166 | 80 | 1.43 | 13.8 | 14 | 44 | 14.8 |
| Greywacke—HPGR Adjusted Product1 | 150 | 2520 | 79 | 1.31 | 14.6 | 10 | 52 | 10.3 |
| Iron Formation | 150 | 2417 | 78 | 1.27 | 14.9 | - | 56 | 10.3 |
| Iron Formation HPGR Product | 150 | 2256 | 77 | 1.44 | 13.4 | 10 | 40 | 15.8 |
| Iron Formation—HPGR Adjusted Product<sup>1</sup> | 150 | 2440 | 80 | 1.36 | 14.3 | 4 | 49 | 10.3 |
| Porphyry | 150 | 2392 | 80 | 1.09 | 17.1 | - | 77 | 7.3 |
| Porphyry HPGR Product | 150 | 2173 | 82 | 1.22 | 15.9 | 7 | 68 | 13.6 |
| Porphyry—HPGR Adjusted Product1 | 150 | 2426 | 81 | 1.19 | 16.1 | 5 | 70 | 6.9 |
| HPGR Comp. | 150 | 2368 | 79 | 1.19 | 15.8 | - | 66 | 9.8 |
| (HPGR Comp.) HPGR Product | 150 | 2162 | 76 | 1.39 | 13.8 | 13 | 43 | 15.4 |
| Source: SGS 2014.<br>Note:<br><sup>1</sup> Represents a different sample preparation approach explained above. | Source: SGS 2014.<br>Note:<br><sup>1</sup> Represents a different sample preparation approach explained above. | Source: SGS 2014.<br>Note:<br><sup>1</sup> Represents a different sample preparation approach explained above. | Source: SGS 2014.<br>Note:<br><sup>1</sup> Represents a different sample preparation approach explained above. | Source: SGS 2014.<br>Note:<br><sup>1</sup> Represents a different sample preparation approach explained above. | Source: SGS 2014.<br>Note:<br><sup>1</sup> Represents a different sample preparation approach explained above. | Source: SGS 2014.<br>Note:<br><sup>1</sup> Represents a different sample preparation approach explained above. | Source: SGS 2014.<br>Note:<br><sup>1</sup> Represents a different sample preparation approach explained above. | Source: SGS 2014.<br>Note:<br><sup>1</sup> Represents a different sample preparation approach explained above. |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

SGS developed a method that accounts for the effect of the increased quantity of fines in the HPGR product to estimate better the power reduction needed to grind from P100 of 6 mesh to P100 of 150 mesh. Based on their method, the HPGR product would require 17% to 23% less power compared to a standard feed.

A different method was suggested to SGS by an external comminution specialist at SimSAGe. The BWI test samples were prepared to reproduce the size distribution of the Bond ball mill grindability tests performed on the HPGR feed. Based on this modified procedure, the HPGR products required 7% to 12% less power compared to a standard feed to grind from P100 of 6 mesh to P100 of 150 mesh.

13.2.4 Pilot-Plant Tests Results

Pilot-plant tests were carried out on about 950 kg of gold ore sampled from the deposit. The sample material consisted of 50.5% greywacke, 29.1% iron formation, and 20.4% porphyry. The ore sample was provided as drill cores that had been pre-crushed to match the feed-size requirements of the units.

Pilot-plant tests were conducted using a semi-industrial HPGR with 0.35 m-wide, 0.95 m-diameter rolls. Process data obtained from test work allow the sizing of industrial-scale machines. The objectives in sizing HPGRs are to meet the throughput requirements and to achieve a certain product fineness. Therefore, the key parameters are the specific throughput rate and the specific energy consumption required to obtain the desired comminution result. The specific throughput rate varied between 306 and 320 t s/m<sup>3</sup> h; it was slightly dependent on the specific press force. The specific energy consumption varied between 1.4 and 2.6 kWh/t depending on the applied specific press force.

Bond tests were conducted on a conventionally crushed, fresh-feed sample from the provided sample, as well as on the HPGR cycle products. The Bond test was conducted using a closing mesh size of 90 µm. The BWI was 10% lower after HPGR treatment: 14.73 kWh/t on crushed material compared to 13.28 kWh/t on HPGR product.

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| 13-19 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

The pilot tests allowed the prediction of the expected industrial-size distribution of the HPGR discharge and of the screen undersize product for a closed-circuit operation. Locked-cycle tests were conducted to simulate a continuous operation. The circulation factor was consistent in the first three cycles, indicating that the circuit was stabilized. The pilot-plant test third-cycle size distribution is presented in Figure 13-3.

#### Figure 13-3: Pilot-Plant Test Third-Cycle Size Distribution
Source: ThyssenKrupp 2005.

13.3 2019 Test Work Program

A metallurgical test work program was completed in 2019 and focused on whole of ore cyanidation and gravity tails cyanidation testing. Relevant test results are summarized below and based on the following report:

&nbsp;&nbsp;&nbsp;&nbsp;· An Investigation into Gold Recovery of Hardrock Deposit-17074-001, March 5, 2019 (SGS Canada Inc. 2019)

For the testing program, two composite samples were prepared for solid/liquid separation and rheology testing, and seventeen composite samples were prepared for metallurgical evaluation to determine the amenability of the samples to conventional gold processing.

Testing on these samples included head characterization, metallurgical testing, solid/liquid separation, and rheology testing. Head characterization included a gold screened metallics protocol, carbon speciation, sulphur speciation, arsenic individual elemental analysis, and a semi-quantitative ICP scan analysis.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Metallurgical processing included whole ore cyanidation, gravity separation, and gravity tailing cyanidation, as well a single oxygen uptake (consumption) test. Solid/liquid separation and rheology evaluations included sample characterization, flocculant scoping, both static and dynamic settling, as well as thickener underflow rheological measuring. Only cyanidation test results are summarized in this section below.

13.3.1 Sample Characterization

The gold head grade for the seventeen composites was determined by a screened metallics protocol. Gold head grades ranged from a low of 0.40 g/t for Composite 10 to a high of 19.1 g/t for Composite 12. Most of the gold present in the composites was found in the higher mass (~97%), minus 150 mesh fractions, with thirteen of the seventeen composites containing at least 91% of the gold in this fraction. The only composites reporting more than 10% gold in the plus 150 mesh fraction were Composite 2 at 12.4%, Composite 9 at 13.1%, Composite 15 at 19.1%, and Composite 12 at 35.2%. The duplicate assays performed on the minus 150 mesh fraction for each composite showed very good correlation in most cases, although some variation (>0.20 g/t) was observed in composites 8, 9, 12, 13, 14, and 17.

A representative 75 μm pulverized sample of each of the composites was submitted for carbon speciation analysis including total carbon (C<sub>T</sub>), graphitic carbon (C<sub>g</sub>), total organic carbon (TOC), and carbonates (CO<sub>3</sub>). The analysis determined that the total carbon present in the composites ranged from 0.92% to 2.08%. The graphitic carbon levels were reported less than the detection level of 0.05% for all the composites, except Composite 15, which reported a value of 0.14%. The total organic carbon levels were reported less than the detection level of 0.05% for composites 1, 8, 10, 12, 15, and 17, while the remaining composites ranged from 0.05% to 0.33%. Most of the carbon present in the samples was shown to be present as carbonate, as evident by the assays for CO3 ranging from 4.05% to 9.59%.

A representative 75 μm pulverized sample of each of the composites was submitted for sulphur speciation assays, including total sulphur (S<sub>T</sub>), sulphide sulphur (S=), elemental sulphur (S°), and sulphate (SO<sub>4</sub>). The analysis determined that the total sulphur and the sulphide sulphur ranged from 0.23% to 1.57%, and 0.23% to 1.50%, respectively. For sulphate and elemental sulphur, all the samples returned values below the detection limits of 0.1% and 0.05%, respectively.

A representative sample of each of the composites was pulverized to 75 μm and submitted for individual elemental analysis for arsenic (As). The results, summarized in Table 13-19, showed that the composites returned low arsenic grades ranging from less than the detection limit of 0.001% for Composite 11, to 0.072% for Composite 5.

#### Table 13-19: Head Assays

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|:---|:---|:---|:---|:---|:---|
| **Composite** | **Au (g/t)** | **C (%)** | **S<sub>T</sub> (%)** | **S=(%)** | **As (%)** |
| 1 | 0.55 | 1.26 | 1.57 | 1.50 | 0.060 |
| 2 | 0.57 | 1.71 | 0.23 | 0.23 | 0.002 |
| 3 | 1.66 | 1.17 | 1.50 | 1.46 | 0.038 |
| 4 | 0.73 | 1.62 | 0.66 | 0.57 | 0.011 |
| 5 | 0.51 | 1.68 | 1.04 | 1.03 | 0.072 |
| 6 | 0.50 | 1.11 | 0.44 | 0.44 | 0.006 |
| 7 | 1.06 | 1.18 | 0.95 | 0.95 | 0.059 |
| 8 | 1.55 | 1.22 | 0.43 | 0.44 | 0.008 |
| 9 | 1.35 | 1.10 | 0.45 | 0.54 | 0.017 |
| 10 | 0.40 | 1.53 | 1.15 | 0.66 | 0.052 |
| 11 | 0.44 | 1.23 | 0.30 | 0.30 | <0.001 |
| 12 | 19.1 | 1.45 | 1.08 | 0.96 | 0.035 |
| 13 | 1.02 | 1.47 | 0.35 | 0.35 | 0.002 |
| 14 | 0.99 | 0.92 | 0.63 | 0.62 | 0.008 |
| 15 | 0.73 | 1.64 | 0.48 | 0.43 | 0.007 |
| 16 | 1.09 | 2.08 | 0.88 | 0.88 | 0.038 |
| 17 | 1.15 | 1.25 | 0.64 | 0.58 | 0.023 |
| Source: SGS 2019. | Source: SGS 2019. | Source: SGS 2019. | Source: SGS 2019. | Source: SGS 2019. | Source: SGS 2019. |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

13.3.2 Metallurgical Testing

The metallurgical gold recovery test program included whole ore cyanidation, as well as gravity separation followed by gravity tailing cyanide leaching. A single oxygen uptake test was also performed to provide some baseline information on oxygen consumption.

13.3.2.1 Whole of Ore Cyanidation Testing

A single whole ore cyanidation test was completed for ten of the seventeen composites. The test conditions applied for each cyanide leach included 50% solids, pulp pH of 10.5-11.0 maintained with lime, a 4-hour pre-aeration with oxygen to maintain a solution dissolved oxygen level of 15 mg/L or higher, 0.5 g/L NaCN maintained, and a retention time of 48 hours.

The results from the whole ore cyanidation tests showed final gold extractions ranging from a low of 85% for Composite 5, to a high of 99% for Composite 12. Eight of the ten tests complete returned a final gold extraction greater than 90%. The final tailing residue gold grades for nine of the ten tests were low, ranging from 0.03 g/t for Composite 11 to 0.08 g/t for Composite 15. Only the test performed on Composite 12 showed a final tailing gold grade greater than 0.1 g/t, reported at 0.23 g/t. However, it should be noted that with a calculated head of 22.4 g/t, the gold extraction was the highest at 99% and the tailing grade of 0.23 g/t should still be considered very low. Reagent consumptions for sodium cyanide and lime ranged from 0.12 kg/t to 0.19 kg/t, and 0.48 kg/t to 0.77 kg/t, respectively for all the tests conducted, both considered low. There was good correlation observed between the calculated gold head grades and the direct gold head grades for al the tests. A summary of the results from the whole ore cyanidation testing is provided in Table 13-20.

#### Table 13-20: Whole of Ore Cyanidation Leach Summary

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **CN Test No.** | **Comp** | **Feed Size (P<sub>80</sub>, µm)** | **NaCN (kg/t)** | **Lime (kg/t)** | **% Au Extraction** | **% Au Extraction** | **% Au Extraction** | **Residue Au (g/t)** | **Calc Head Au (g/t)** |
| **CN Test No.** | **Comp** | **Feed Size (P<sub>80</sub>, µm)** | **NaCN (kg/t)** | **Lime (kg/t)** | **24h** | **28h** | **48h** | **Residue Au (g/t)** | **Calc Head Au (g/t)** |
| CN-1 | 1 | 85 | 0.19 | 0.77 | 94 | 94 | 92 | 0.04 | 0.46 |
| CN-2 | 2 | 90 | 0.15 | 0.53 | 91 | 90 | 92 | 0.04 | 0.52 |
| CN-8 | 4 | 92 | 0.17 | 0.58 | 94 | 93 | 93 | 0.06 | 0.82 |
| CN-9 | 5 | 92 | 0.17 | 0.64 | 86 | 86 | 85 | 0.07 | 0.46 |
| CN-10 | 6 | 85 | 0.17 | 0.55 | 96 | 96 | 95 | 0.04 | 0.77 |
| CN-19 | 9 | 95 | 0.14 | 0.51 | 95 | 95 | 95 | 0.07 | 1.32 |
| CN-20 | 10 | 86 | 0.14 | 0.65 | 87 | 86 | 88 | 0.06 | 0.50 |
| CN-21 | 11 | 86 | 0.13 | 0.48 | 91 | 88 | 91 | 0.03 | 0.34 |
| CN-25 | 12 | 68 | 0.18 | 0.69 | 95 | 97 | 99 | 0.23 | 22.4 |
| CN-30 | 15 | 87 | 0.12 | 0.55 | 92 | 93 | 91 | 0.08 | 0.80 |
| Source: SGS 2019. | Source: SGS 2019. | Source: SGS 2019. | Source: SGS 2019. | Source: SGS 2019. | Source: SGS 2019. | Source: SGS 2019. | Source: SGS 2019. | Source: SGS 2019. | Source: SGS 2019. |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

13.3.2.2 Gravity Tailings Cyanidation Testing

Various gravity tailing cyanidation tests were performed on the eleven composites subjected to gravity separation. The results are tabulated in Table 13-21.

#### Table 13-21: Gravity Tailings Cyanidation Leach Summary

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| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **CN Test No.** | **Comp** | **Feed Size (P<sub>80</sub>, µm)** | **NaCN (kg/t)** | **Lime (kg/t)** | **% Au Extraction** | **% Au Extraction** | **% Au Extraction** | **Residue Au (g/t)** | **Calc Head Au<br> (g/t)** | **Gravity Rec (%)** | **Grav+CN Rec (%)** |
| **CN Test No.** | **Comp** | **Feed Size (P<sub>80</sub>, µm)** | **NaCN (kg/t)** | **Lime (kg/t)** | **24h** | **28h** | **48h** | **Residue Au (g/t)** | **Calc Head Au<br> (g/t)** | **Gravity Rec (%)** | **Grav+CN Rec (%)** |
| CN-3 | 3 | 91 | 0.19 | 0.71 | 96 | 94 | 94 | 0.09 | 1.53 | 13.5 | 95 |
| CN-4 | 3 | 73 | 0.19 | 0.77 | 96 | 95 | 96 | 0.06 | 1.48 | 13.5 | 97 |
| CN-5 | 3 | 73 | 0.21 | 0.79 | 94 | 94 | 95 | 0.08 | 1.44 | 13.5 | 95 |
| CN-6 | 4 | 87 | 0.16 | 0.59 | 93 | 95 | 94 | 0.05 | 0.72 | 14.5 | 95 |
| CN-17 | 4 | 87 | 0.16 | 0.56 | 96 | 97 | 96 | 0.04 | 0.79 | 14.5 | 96 |
| CN-38 | 4 | 88 | 0.01 | 0.74 | 91 | 92 | 92 | 0.06 | 0.74 | 14.5 | 93 |
| CN-39 | 4 | 90 | 0.04 | 0.74 | 92 | 92 | 93 | 0.06 | 0.79 | 14.5 | 94 |
| CN-40 | 4 | 89 | 0.10 | 0.76 | 92 | 90 | 92 | 0.06 | 0.72 | 14.5 | 93 |
| CN-41 | 4 | 87 | 0.11 | 0.59 | 92 | 92 | 93 | 0.05 | 0.73 | 14.5 | 94 |
| CN-45 | 4 | 93 | 0.07 | 0.44 | 89 | 89 | 92 | 0.07 | 0.82 | 14.5 | 93 |
| CN-46 | 4 | 93 | 0.07 | 0.45 | 86 | 88 | 90 | 0.08 | 0.80 | 14.5 | 91 |
| CN-11 | 7 | 96 | 0.16 | 0.62 | 85 | 85 | 84 | 0.14 | 0.86 | 25.7 | 88 |
| CN-13 | 7 | 96 | 0.21 | 0.63 | 84 | 82 | 84 | 0.15 | 0.82 | 25.7 | 88 |
| CN-12 | 7 | 69 | 0.21 | 0.69 | 89 | 89 | 86 | 0.12 | 0.85 | 25.7 | 90 |
| CN-14 | 8 | 89 | 0.17 | 0.59 | 96 | 96 | 94 | 0.17 | 1.11 | 22.8 | 95 |
| CN-15 | 9 | 107 | 0.16 | 0.53 | 95 | 93 | 94 | 0.06 | 0.90 | 32.6 | 96 |
| CN-17 | 9 | 91 | 0.20 | 0.53 | 98 | 99 | 93 | 0.07 | 0.96 | 32.6 | 95 |
| CN-18 | 9 | 91 | 0.19 | 0.53 | 100 | 97 | 93 | 0.06 | 0.91 | 32.6 | 96 |
| CN-16 | 9 | 74 | 0.20 | 0.59 | 100 | 97 | 95 | 0.05 | 0.88 | 32.6 | 97 |
| CN-35 | 9 | 94 | 0.18 | 0.59 | - | - | 92 | 0.08 | 1.02 | 32.6 | 94 |
| CN-36 | 9 | 94 | 0.04 | 0.59 | 93 | 93 | 93 | 0.07 | 1.01 | 32.6 | 95 |
| CN-37 | 9 | 95 | 0.07 | 0.60 | 91 | 92 | 92 | 0.07 | 0.92 | 32.6 | 95 |
| CN-22 | 12 | 98 | 0.18 | 0.56 | 102 | 101 | 95 | 0.39 | 8.25 | 48.9 | 98 |
| CN-23 | 12 | 72 | 0.17 | 0.67 | 103 | 102 | 97 | 0.22 | 8.03 | 48.9 | 99 |
| CN-24 | 12 | 72 | 0.19 | 0.68 | 102 | 103 | 97 | 0.23 | 8.10 | 48.9 | 99 |
| CN-26 | 13 | 71 | 0.16 | 0.59 | 99 | 98 | 94 | 0.05 | 0.84 | 26.5 | 96 |
| CN-47 | 13 | 95 | 0.05 | 0.40 | 82 | 84 | 85 | 0.15 | 0.94 | 26.5 | 89 |
| CN-27 | 14 | 92 | 0.16 | 0.55 | 93 | 92 | 89 | 0.08 | 0.74 | 33.9 | 93 |
| CN-28 | 15 | 84 | 0.12 | 0.57 | 90 | 91 | 91 | 0.05 | 0.58 | 29.2 | 94 |
| CN-29 | 15 | 84 | 0.13 | 0.59 | 91 | 89 | 91 | 0.05 | 0.58 | 29.2 | 94 |
| CN-42 | 15 | 84 | 0.10 | 0.51 | 87 | 88 | 89 | 0.06 | 0.57 | 29.2 | 92 |
| CN-43 | 15 | 86 | - | 0.67 | 90 | 88 | 89 | 0.07 | 0.57 | 29.2 | 92 |
| CN-44 | 15 | 85 | 0.08 | 0.54 | 90 | 90 | 90 | 0.06 | 0.59 | 29.2 | 93 |
| CN-31 | 16 | 85 | 0.15 | 0.63 | 89 | 88 | 90 | 0.08 | 0.79 | 21.9 | 92 |
| CN-32 | 16 | 85 | 0.15 | 0.66 | 88 | 87 | 89 | 0.09 | 0.77 | 21.9 | 91 |
| CN-33 | 17 | 91 | 0.15 | 0.53 | 91 | 90 | 94 | 0.05 | 0.77 | 23.2 | 95 |
| CN-34 | 17 | 90 | 0.14 | 0.51 | 93 | 91 | 94 | 0.06 | 0.80 | 23.2 | 94 |
| Source: SGS 2019. | Source: SGS 2019. | Source: SGS 2019. | Source: SGS 2019. | Source: SGS 2019. | Source: SGS 2019. | Source: SGS 2019. | Source: SGS 2019. | Source: SGS 2019. | Source: SGS 2019. | Source: SGS 2019. | Source: SGS 2019. |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Composite 3: Three tests were performed to examine the effect of grind size and had common test conditions of a pulp pH of 10.5-11.0 maintained with lime, a 0.5 g/L NaCN concentration maintained, and pulp aeration achieved by oxygen sparging to a dissolved oxygen level greater than ~20 mg/L. Two target P80 grind sizes of 90 μm and 72 μm were selected for the testing, with a duplicate test conducted at the P80 grind size of 72 μm. The overall gold recovery ranged from 95% to 97%.

Composite 4: The eight tests were performed to examine the effect of sodium cyanide concentration, pH and dissolved oxygen content and had common test conditions of a target P80 grind size of 90 μm. The sodium cyanide concentration in the tests ranged from 0.25 g/L to 0.10 g/L, while the pH value varied from a range of 10.5-11.0 to a range of 9.8-10.3 and the dissolved oxygen content ranged from 10 mg/L to greater than 20 mg/L. The overall gold recovery ranged from 91% to 96%.

Composite 7: Three tests were performed to examine the effect of grind size. The three tests had the common test conditions of a pulp pH of 10.5 to 11.0 maintained with lime, a 0.5 g/L NaCN concentration maintained, and a dissolved oxygen level greater than approximately 20 mg/L. Two target P<sub>80</sub> grind sizes of 90 μm and 72 μm were selected for the testing, with a duplicate test conducted at the P<sub>80</sub> grind size of 90 μm. The cyanidation gold extractions for the three tests were lower than the extractions seen in most of the other composites, ranging from 84% to 86%. Based on the leach extraction data, it appeared that the leach extraction for each test was essentially complete after 24 hours. When taking into account the gravity concentrate gold recovery value of 25.7%, the overall gold recovery of the gravity separation plus gravity tailing cyanidation process ranged from 88% to 90%.

Composite 8: A single gravity tailing cyanidation test was performed using the common test conditions as well as a target P80 grind size of 90 μm, a pulp pH of 10.5 to 11.0 maintained with lime, a 0.5 g/L NaCN concentration maintained, and a dissolved oxygen level greater than ~20 mg/L. The cyanidation gold extraction for the test was high, reported at 94%.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Composite 9: Seven tests were performed to examine the effect of grind size, sodium cyanide concentration, dissolved oxygen content, and carbon addition. The seven tests had the common test condition of a pH range of 10.5 to 11.0. The target P80 grind size in the tests ranged from 72 μm to 110 μm. The sodium cyanide concentration in the tests ranged from 0.35 g/L to 0.50 g/L, while the dissolved oxygen content varied from a target of ~10 mg/L to greater than ~20 mg/L. Despite the varied test conditions, the cyanidation gold extractions for the seven tests were all similarly high, ranging from 92% to 95%. The two tests performed with a higher sodium cyanide concentration of 0.50 g/L and a finer grind size of a P<sub>80</sub> of 74 μm (CN-16), reported a 1% to 3% increase in gold extraction as compared to the other tests.

Composite 12: Three tests were performed to examine the effect of grind size and had the common test conditions of a pulp pH of 10.5 to 11.0 maintained with lime, a 0.5 g/L NaCN concentration maintained, and a dissolved oxygen level greater than ~20 mg/L. Two target P<sub>80</sub> grind sizes of 90 μm and 72 μm were selected for the testing, with a duplicate test conducted at the P<sub>80</sub> grind size of 72 μm. The cyanidation gold extractions for the three tests were very high, ranging from 95% to 97%. The duplicate tests performed at the finer P<sub>80</sub> grind size, reported at 72 μm (CN-23 and CN-24), showed a 2% increase in gold extraction over the coarser test. It is noted that these samples had high gravity recoverable gold and nugget effect may have resulted in assay bias.

Composite 13: Two tests were performed. The CN-26 test was performed using the common test conditions as well as a target P80 grind size of 72 μm, a pulp pH of 10.5 to 11.0 maintained with lime, a 0.5 g/L NaCN concentration maintained, and a dissolved oxygen level greater than ~20 mg/L. Test CN-47 was performed using the common test conditions as well as a target P<sub>80</sub> grind size of 90 μm, a pulp pH of 9.8 to 10.3 maintained with lime, a 0.1 g/L NaCN concentration maintained, and a dissolved oxygen level greater than ~10 mg/L to 15 mg/L. The cyanidation gold extraction for test CN-26 was high, reported at 94%. The cyanidation gold extraction for test CN-47 was significantly, reported at 85%.

Composite 14: A single was performed using the common test conditions, target P80 grind size of 90 μm, a pulp pH of 10.5-11.0 maintained with lime, a 0.5 g/L NaCN concentration maintained and a dissolved oxygen level greater than ~20 mg/L. The cyanidation gold extraction for the test was reported at 89%.

Composite 15: Five tests were performed to examine the effect of sodium cyanide concentration, pH and dissolved oxygen content. The six tests had the common test condition of a target P80 grind size of 90 μm. The sodium cyanide concentration in the tests ranged from 0.25 g/L to 0.50 g/L, while the pH value varied from a range of 10.5 to 11.0 to a range of 9.8 to 10.3, and the dissolved oxygen content ranged from 10 mg/L to greater than 20 mg/L. The cyanidation gold extractions for the five tests ranged from 89% to 91%. The two tests performed with a higher sodium cyanide concentration of 0.50 g/L and dissolved oxygen levels greater than 20 mg/L, (CN-28 and CN-29), reported a 1% to 2% increase in gold extraction as compared to the tests conducted at lower NaCN concentrations and lower dissolved oxygen levels.

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| 13-25 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Composite 16: Duplicate tests were performed and using the common test conditions as well as a target P<sub>80</sub> grind size of 90 μm, a pulp pH of 10.5 to 11.0 maintained with lime, a 0.5 g/L NaCN concentration maintained and a dissolved oxygen level greater than ~20 mg/L. The cyanidation gold extraction for CN-31 and CN-32 were reported at 90% and 89%, respectively.

Composite 17: Duplicate tests were performed and using the common test conditions as well as a target P<sub>80</sub> grind size of 90 μm, a pulp pH of 10.5 to 11.0 maintained with lime, a 0.5 g/L NaCN concentration maintained and a dissolved oxygen level greater than ~20 mg/L. The cyanidation gold extraction for CN-33 and CN-34 were reported at 94% and 92%, respectively.

Key test work conclusions are listed:

&nbsp;&nbsp;&nbsp;&nbsp;· The gold concentration in seventeen composites ranged from 0.40 g/t to 19.1 g/t gold. Total sulphur grades ranged from 0.23% to 1.57% and almost all the sulphur was present as sulphide, indicating some of the samples could be slightly refractory in nature. Carbon speciation testing showed graphitic carbon and total organic carbon levels were near or below the detection level of 0.05%, making it very unlikely that the composites contain any preg-robbing characteristics.

&nbsp;&nbsp;&nbsp;&nbsp;· The gold in the ten of the seventeen composite samples tested via whole of ore cyanidation process were found to be highly amenable to gold extraction. Conventionally milled whole ore material (P<sub>80</sub> of 75 to 90 μm) yielded excellent gold extractions of greater than 90% for eight of the ten composites tested. The only two composites which returned gold extractions less than 90% were Composite 10 at 88% and Composite 5 at 85%, values which are still deemed to be quite amenable to the process.

&nbsp;&nbsp;&nbsp;&nbsp;· Gravity separation testing was performed on eleven of the seventeen composites and showed that all eleven samples returned gold recoveries higher than 13%, while nine of the eleven returned gold recoveries more than 21%, ranging from 22% to 49%. The results support the use of the current gravity circuit.

&nbsp;&nbsp;&nbsp;&nbsp;· Gold extraction by direct cyanidation from the gravity tails showed the samples were very amenable to the testing under all test conditions applied. For nine of the eleven composites tested, gold extractions were reported at greater than 90%. For the two composites that fell below 90%. They still provided positive results, ranging from 84% to 89% gold extraction.

&nbsp;&nbsp;&nbsp;&nbsp;· Cyanide and lime consumptions were generally low to very low during all the cyanide leach testing including whole ore cyanidation and gravity tailing cyanidation.

13.4 2024 Gold Deportment Test Work

In December 2024, three plant samples (leach feed and two leach tail samples) were submitted for general mineralogical examination of different phases, including sulphides, Fe-Oxides, VG grains and QEMSCAN modal/liberation analysis. Gold deportment studies were also carried out for these three feed and tail samples at a grind of P<sub>80</sub>=75μm. The objectives of the investigation were to determine the distribution of gold among different phases, and to identify and evaluate any mineralogical factors that may affect gold recoveries.

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| 13-26 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

A comprehensive mineralogical and analytical approach including fire assay, whole rock analysis (WRA), superpanning (SP), ore microscopy, SEM-EDS (scanning electron microscopy – energy-dispersive X-ray spectroscopy), and QEMSCAN (quantitative evaluation of materials by scanning electron microscopy) analysis were used in the current study. For gold deportment studies, secondary ion mass spectroscopy (SIMS) analysis was used in the current study; Dynamic SIMS for quantification of invisible gold in sulphides, Fe-Oxides and other phases.

A similar suite of minerals was noted in these three samples. Silicates (quartz, feldspar, mica and chlorite) were main phases accounting >70% in these samples. Moderate amounts of Fe-Oxides (10% to 11%) and carbonates (10% to 11%) were present in these three samples. Magnetite and hematite were the major Fe-Oxides while ankerite was the major carbonate phase. Minor amounts (2.2% to 2.6%) of sulphides (pyrite, pyrrhotite, arsenopyrite and chalcopyrite) were noted from these samples. Pyrite was the main sulphide (1.8% to 2.2%) while other sulphides occurred as trace amounts.

A number of gold grains were measured with optical microscope and SEM-EDS from these three samples. In general, majority of the observed gold grains in Leach Feed sample was liberated (54%) while gold grains from Leach Tail and Tail BA6 samples were dominantly (>90%) locked with in sulphides phases (pyrite and arsenopyrite). All the gold grains from these three samples were native gold in composition (76.3% - 100% Au), fine to medium grained (1μm to 36μm) with the average grain size of 2μm to 9μm. SEM-EDS gold scan analysis indicated all the observed gold grains from these three samples were native gold (>75% Au). Key results are summarized in Table 13 21.

#### Table 13-22: Gold Deportment Test Results

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|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sample Name** | **Au (ppm)** | **As (ppm)** | **S (%)** | **Pyrite (%)** | **Arsenopyrite (%)** | **Fe-Oxides (%)** | **Visible Gold** | **Locked & Attached (% of visible Gold)** |
| Leach Feed | 0.97 | 635 | 1.07 | 2.2 | 1.8 | 6.9 | 89<br>(1-36 µm grain size)<br>| 41 |
| Leach Tail | 0.16 | 826 | 1.23 | 15.5 | 15 | 47 | 22.5<br>(1-6 µm grain size)<br>| 21.8 |
| Tail BA6 | 0.216 | 641 | 1.22 | 12.4 | 9 | 34 | 44.3<br>(1-18 µm grain size)<br>| 41.2 |

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Source: SGS (2024)

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| 13-27 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

13.5 Recommendations

For continued plant optimization, the QP recommends that GGM complete a metallurgical test work program to further understand the metallurgical response of various ore types and head grades via the existing plant flowsheet. This test work program would specifically address the following:

&nbsp;&nbsp;&nbsp;&nbsp;· Sample characterization: Head analyses including duplicate gold by fire assay, arsenic by XRF and total sulphur and carbon by Leco analysis

&nbsp;&nbsp;&nbsp;&nbsp;· Mineralogy: Mineralogical characterization via microscopic and submicroscopic gold deportment studies

&nbsp;&nbsp;&nbsp;&nbsp;· Cyanidation test work: Standard bottle roll tests to assess the effect of grind size, pulp density, pre- aeration (dissolved oxygen range), pH range and cyanide dosage.

13.6 Gold Recovery

A multivariant regression model has been used to predict leach residue grade that is then used to predict plant gold recovery. Historically, the model was based on gold, arsenic, and sulphur head grades and primary grind size from metallurgical test work. Based on 2025 plant performance, the model has been simplified, and the resulting algorithms are provided in Table 13-23. The algorithms are applied based on arsenic content in the ore and include solution losses of 0.015 ppm Au. Limited operating data exists to accurately predict residue grade with arsenic grades greater than 850 ppm, and plant trials are recommended to evaluate the metallurgical response of ore with higher arsenic grades.

#### Table 13-23: Leach Residue Grade Algorithms

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| **Constraint** | **Algorithm** |
| As% <550ppm | Residue Au grade (g/t)=0.030 + 0.0258 x Head Au (g/t) + 1.155 x Head (As%) + 0.0473 x Head (S%) |
| As% >550ppm, <850ppm | Residue Au grade (g/t)=0.0889 + 0.0199 x Head Au (g/t) + 0.560 x Head (As%) + 0.015 x Head (S%) |
| Source: Equinox 2025. | Source: Equinox 2025. |

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| 13-28 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

14.0 Mineral Resource Estimates

This section presents the updated Mineral Resource estimates for the Greenstone Mine, Key Lake, Kailey, and Brookbank deposits. The costs, cut-off grades, and pit shells for the Mineral Resource estimates for the Key Lake, Kailey, and Brookbank deposits are updated, while the models remain unchanged and have been reviewed and verified by the QP, Niel de Bruin. At the Greenstone Mine and Brookbank deposits, the underground Mineral Resources are reported within mineable shapes.

14.1 Greenstone Mine Mineral Resource Estimate

This Mineral Resource estimate is an update to the previous estimate dated October 1, 2024, prepared by GMS (Dorval et al. 2024).

Completion of the current Mineral Resource estimate update is based on an updated drill hole database, which includes data from an additional 1,339 RCGC drill holes completed since the last Mineral Resource estimate, and an updated block model for mine planning purposes.

Equinox arranged for the preparation of an updated Mineral Resource estimate and was completed by Dan Downton, P.Geo., Principal Resource Geologist, Equinox, with an effective date of December 31, 2025. The QP reviewed and endorsed the current estimates.

Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards for Mineral Resources and Mineral Reserves (CIM (2014) definitions) were used for Mineral Resource classification. The QP opines that the Mineral Resource estimate reported herein is a reasonable representation of the global Mineral Resources found at the Greenstone Mine at the current level and spacing of sampling.

The Mineral Resource estimate includes Inferred Mineral Resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves. The QP is of the opinion that the majority of the Inferred Mineral Resources could be upgraded to the Indicated Mineral Resources with continued exploration.

Mineral Resource estimation methodologies, results, and validations are presented in this section of the Technical Report.

14.1.1 Drill Hole Database

The Mineral Resource estimate used DDH, RCGC drill holes, and blastholes to estimate the gold content, sulphur, carbon, and iron. All drill holes were reviewed and validated, and those that did not meet the quality assurance/quality control (QA/QC) criteria were excluded from the Mineral Resource estimate update. Channel samples were not considered. Additionally, historical underground drilling was not included in the Mineral Resource estimate, consistent with the 2019 and 2024 Mineral Resource estimates.

A summary of the updated database is presented in Table 14-1. The database included drill hole collar information (UTM Zone 16; NAD 83), surveys, assays, lithological, alteration, structural, and geotechnical data. The database was exported from MX Deposit with a close-out date of August 12, 2025.

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| 14-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 14-1: Summary of the Drilling Database for the Greenstone Mine for the 2025 Mineral Resource Estimate

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|:---|:---|:---|:---|
| **Drilling Type** | **No. of Drill Holes** | **Total Length <br> (m)** | **No. of Assayed Samples** |
| Borehole Blast Holes | 84573 | 951764 | 67976 |
| Diamond Drill Core Holes | 1724 | 711702 | 331384 |
| Reverse Circulation Grade Control | 2180 | 119229 | 57181 |
| All | 88477 | 1782695 | 456541 |

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A total of 1,724 diamond drill core holes used in the resource estimate, amounting to 711,702.17 m. This includes 331,384 samples (453,772.31 m) that contain gold values, 12,039 samples with sulphur (S) values, 17,097 samples with arsenic (As) values, and 12,278 samples with iron (Fe) values.

In addition, there were 2,180 RCGC holes used in the resource estimate over a total of 119,229 m. This comprised 57,181 samples (109,468 m) with gold values, 26,651 samples with sulphur values, 26,969 samples with arsenic values, and 26,651 samples with iron values.

There was a total of 84,573 blastholes in the database, with the blastholes only used in estimating carbon values due to limited availability of data in the diamond and RCGC drill holes.

Selective sampling was undertaken in specific drilling campaign`s, rather than continuously sampling entire drill holes. Intervals that appeared unmineralized to the logging geologist were generally not sampled. A grade of zero was assigned to missing sample intervals during compositing. Intervals that were logged as breakthrough, overburden, missing core, or missing gold values within a 5 m buffer of the underground voids were treated as omitted, rather than assigning a zero grade.

Drilling covers a 5.7 km strike length of the deposit, with an irregular spacing of approximately 50 m (X) by 25 m (Y) within the limits of the proposed open pit (Figure 14-1). Infill drilling at 25 m (X) spacing was conducted in mineralized domains, with spacing tightening to 20 m (X) by 10 m (Y) in near-surface mineralized zones targeted by the 2018, 2019, and 2021 RCGC campaigns. Since June 2024, extensive grade control RC drilling has been completed on a 20 m by 15 m grid, and these data have been incorporated into the updated Mineral Resource Estimate model.

In the deeper, underground portions of the deposit, drilling is more widely spaced, typically on 100 m (X) traverses, with localized infill drilling at 50 m (X) by 50 m (Y) in areas of stronger mineralization. Around the proposed open pit, the drill spacing is considered sufficient to support a robust geological model of mineralization distribution, and to quantify volume and continuity with a reasonable level of confidence.

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| 14-2 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-1: View of All Drilling Used for the 2025 Mineral Resource estimate, Showing the 2025 Resource Pit Shell (Red) for Reference
14.1.2 Wireframing—Lithology

A lithological model was created in Leapfrog Geo and informed the building of the grade shells. Using the latest drilling information, reinterpretations were made to the lithology model in conjunction with geochemical results from the RCGC drilling. Included in this update is the inclusion of the late-stage, cross-cutting post-mineralization diabase dykes as seen in the pit and evident in the geophysics, DDH logs, and geochemistry, as well as a minor modification of one of the iron formation units in the north area of the deposit near surface; both are presented in Figure 14-2.

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| 14-3 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-2: Inclusion of Late-stage Diabase Dykes and Iron Formation Update
Source: Equinox 2026.

#### Gold Mineralization Domains
The methodology used to update the gold mineralization domains for this Mineral Resource estimate update comprises:

&nbsp;&nbsp;&nbsp;&nbsp;· Equinox considered the drilling campaign completed in the second half of 2025 in updating the lithostructural model for the Greenstone Mine property.

&nbsp;&nbsp;&nbsp;&nbsp;· In the 2025 update, six domains based on mineralization and lithological controls, including North Domain, the F-Domain, the SP-Domain, Tenacity Domain, South Domain and external diluted zone, were used. The North Domain was separated into three sub-domains: the N1, N2, and Central domains.

&nbsp;&nbsp;&nbsp;&nbsp;· No internal sub-domains were applied in the 2025 update, after statistical analysis revealed grade smearing could be controlled with the updated mineralization wireframes and appropriately selected estimation parameters.

&nbsp;&nbsp;&nbsp;&nbsp;· Mineralization grade shells were modelled using Leapfrog Geo's Indicator RBF Interpolant using raw assay values from the resource-ready dataset. An indicator cut-off value of 0.15 ppm Au was statistically confirmed for the mineralization threshold. The numerical modelling was guided by a structural trend derived from the updated lithostructural model, with additional manual control points added as needed to control the interpolant and ensure representative continuity and alignment with the geology (e.g., by adhering to fold hinges interpreted from magnetic susceptibility trends or identified during historical mining). The resulting grade shells are an improved representation of the mineralization controlled by the lithostructural characteristics of the deposit.

&nbsp;&nbsp;&nbsp;&nbsp;· A spheroidal interpolant with a constant drift and an isosurfacing probability value of 0.4 was used to create the shapes. Several iterations of the isosurfacing value were tested to optimize continuity and reasonable reconciliation of mine production.

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| 14-4 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Mineralization within the Greenstone Mine deposit comprises several discrete zones hosted along lithological contacts and/or associated with several geologic structures. Although mineralization is mostly continuous across zone boundaries, it is often separated by geologic structures, and grade shell modelling considers fold axial planes, lithostratigraphic contacts, and other less discrete structural and geochemical changes. Figure 14-3 presents the domains in 3D perspective, and Figure 14-4 presents a vertical section of the domains.

The northern area of the deposit is referred to as the North Domain and comprises the N1, N2, and Central domains, which are primarily associated with the BIFs. Although the N1 and N2 domains have similar grade distributions, and the Central domain is geographically identical to the N1 domain and has similar high-grade outliers, they are separated from each other around the central fold axial plane. These geological zones plunge at 25° downwards and towards the west, with the plunge orientation changing to 10° in the far west in the Central domain.

The F, SP, and Tenacity domains make up a central corridor of the deposit and are associated with lithostratigraphic units, including a major folded porphyry unit. F, SP, and Tenacity are geographically similar and share 15° down-west plunges, but their grade distributions differ, and the mineralization is hosted in different rock types.

The South domain encompasses all mineralization on the southern portion of the deposit and is separated from the F, SP, and Tenacity domains by a major fold axial plane and an ultramafic unit contact. The South domain is relatively unique within the deposit. The grade distribution shows on average lower grades than other domains; however, there are some similarities to the SP and Tenacity domains on a local scale.

Although the statistics and orientations differ slightly, statistical contact analysis suggests that the transition of the grade across domain boundaries is gradational between the different geological zones and estimation domains.

The 2025 mineralization model, developed using a numerical modelling tool, provides a clearer representation of the deposit's mineralization by focusing on the following aspects:

&nbsp;&nbsp;&nbsp;&nbsp;· Ensuring realistic continuity across lithostructural mineralization controls.

&nbsp;&nbsp;&nbsp;&nbsp;· Minimizing internal waste while creating economic composites for the numerical modelling.

&nbsp;&nbsp;&nbsp;&nbsp;· Implementing local geological and structural controls to better manage the orientation and extent of the mineralization domains.

&nbsp;&nbsp;&nbsp;&nbsp;· Considering the orientation and presence of historic underground voids to guide the modelling of mineralization domains.

&nbsp;&nbsp;&nbsp;&nbsp;· Reasonable representation of geology and mineralization in the various geological zones and domains.

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| 14-5 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-3: Three-Dimensional View of the 2025 Mineralization
Source: Equinox 2026.

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| 14-6 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-4: Vertical Section View of the 2025 Mineralization Domains
Source: Equinox 2026.

#### Arsenic, Sulphur, Carbon, and Iron
The Mineral Resource estimate update includes arsenic, sulphur, carbon, and iron to provide guidance on gold recovery and assist with planning for these elements in waste and tailing deposition. Representative grade shells for these elements could not be constructed due to limited availability of data, and the gold grade shells were used to guide the estimation during interpolation of arsenic and sulphur into the block model as these metals are interpreted to be genetically related to gold mineralization events on the deposit scale. The lithological wireframes were used to guide the estimation of the iron and the assignment of the carbon values into the block model as these are interpreted to be related to the host lithology.

#### Topographic and Bedrock Surfaces
The original topographic surface was generated from drone-collected LiDAR data and subsequent drone survey scans utilizing photogrammetry are used to update the surface to represent mining to the end of 31 December 2025.

#### Void Model
Significant work on the void model was conducted in 2025 by Orix Geoscience after several additional sections and plans for the voids were discovered. Additional work on the model included cleaning up the digital shapes for inclusion into several software programs. The 2025 block model was depleted with the updated void model and a conservative bulk density of 1.96 g/cm<sup>3</sup> was applied to these blocks, to represent potentially unmineralized backfill. Historical documentation provides limited information on the types of backfill to be expected, and 2024 model bulk densities were applied to the different types of anticipated void fill (sand = 2.02 g/cm<sup>3</sup>, waste = 2.08 g/cm<sup>3</sup>). Figure 14-5 shows the 2025 void model, coloured by material type.

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| 14-7 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-5: Underground Void Model Coloured by Void Fill
Source: Equinox 2026.

14.1.3 Compositing

14.1.3.1 Gold Assays

To minimize bias introduced by variable sample lengths, the gold assays for the drill hole data were composited. The typical original sample lengths for diamond and RC drilling are 1.5 m and 2.0 m, respectively. Summary statistics for the raw assays are summarized in Table 14-2. Equinox chose a composite length of 2.5 m based on statistical analysis, which is considered appropriate for the deposit after completion of test work evaluating the sensitivity of the contained metal of different composite lengths.

Composites (downhole) were generated for all mineralized domains and were truncated to the boundaries of the mineralization domains. No external dilution is added to the composites at the mineralization boundaries, but internal dilution is incorporated within the domains.

The total number of composites used in the 2025 update is 290,952, which is significantly fewer than the 2024 Mineral Resource estimate due to longer composite lengths and the exclusion of lower-grade samples from the new mineralization domains. Table 14-3 summarizes the basic statistics of the gold composites used for the 2025 Mineral Resource estimates.

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| 14-8 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 14-2: Summary Statistics for the Uncapped Raw Assays

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|:---|:---|:---|:---|:---|:---|:---|:---|
| **Domain** | **Domain No.** | **No. of Raw Assays** | **Minimum<br> (g/t Au)** | **Maximum<br> (g/t Au)** | **Mean <br> (g/t Au)** | **Standard Deviation<br> (SD)** | **Coefficient of Variance<br> (CV)** |
| F Zone | 31 | 14862 | 0 | 2366.1 | 1.75 | 22.30 | 12.71 |
| North Zone | 32 | 40771 | 0 | 3880 | 1.56 | 26.09 | 16.76 |
| SP Zone | 35 | 32610 | 0 | 559 | 1.04 | 5.63 | 5.43 |
| Tenacity Zone | 40 | 2258 | 0 | 1560 | 2.26 | 36.01 | 15.92 |
| South Zone | 41 | 3461 | 0 | 121 | 0.83 | 3.45 | 4.13 |
| External | 500 | 348274 | 0 | 438 | 0.10 | 1.96 | 19.59 |

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#### Table 14-3: Summary Statistics for the 2.5 m Composites (Uncapped)

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| **Domain** | **Domain No.** | **No. of Composites** | **Minimum<br> (g/t Au)** | **Maximum<br> (g/t Au)** | **Mean <br> (g/t Au)** | **Standard Deviation<br> (SD)** | **Coefficient of Variance<br> (CV)** |
| F Zone | 31 | 8986 | 0 | 280.06 | 1.40 | 5.72 | 4.09 |
| North Zone | 32 | 23906 | 0 | 829.89 | 1.27 | 8.80 | 6.93 |
| SP Zone | 35 | 19097 | 0 | 126.23 | 0.89 | 2.70 | 3.03 |
| Tenacity Zone | 40 | 1171 | 0 | 188.12 | 1.33 | 7.80 | 5.86 |
| South Zone | 41 | 1897 | 0 | 82.78 | 0.71 | 2.37 | 3.33 |
| External | 500 | 235895 | 0 | 305.95 | 0.07 | 1.07 | 14.35 |

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#### Outlier Capping
Outlier gold data were capped post-compositing for each mineralized domain based on statistical criteria, and the data were visually reviewed as well. These outlier values were distributed spatially throughout the deposit. The composites were analyzed using Datamine's Supervisor software, specifically employing the Global Topcut analysis tool, which offers histograms, probability plots, mean and variance calculations, and cumulative metal plots.

Outlier composite values were capped based on the established limits, resulting in a metal loss factor of 10.9%. Table 14-4 provides a summary of the statistical analysis for each domain of the gold composites. Figure 14-6 illustrates a probability plot for the SP Zone domain.

#### Table 14-4: Summary Statistics of Capped 2.5 m Composites

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|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Domain** | **Domain No.** | **No. of Composites** | **Capping Levels<br> (g/t Au)** | **No Capped** | **Average <br> (g/t Au)** | **SD** | **CV** | **Metal Loss %** |
| F Zone | 31 | 8986 | 40.00 | 13 | 1.28 | 2.76 | 2.15 | 8 |
| North Zone | 32 | 23906 | 45.00 | 26 | 1.14 | 2.91 | 2.55 | 10 |
| SP Zone | 35 | 19097 | 40.00 | 14 | 0.87 | 2.12 | 2.44 | 2.4 |
| Tenacity Zone | 40 | 1171 | 15.00 | 3 | 1.02 | 1.54 | 1.51 | 23.1 |
| South Zone | 41 | 1897 | 15.00 | 3 | 0.67 | 1.32 | 1.98 | 6.5 |
| External | 500 | 235895 | 5.00 | 270 | 0.06 | 0.28 | 4.44 | 15.5 |

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| 14-9 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-6: Probability Plot Au (g/t) for the SP Zone
14.1.3.2 Arsenic, Sulphur, Iron and Carbon Assays

Composites were generated for arsenic, sulphur, iron and carbon following a similar approach to the gold composites; the selected composite lengths for these elements are shown in Table 14-5.

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| 14-10 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 14-5: Composite Lengths for Arsenic, Sulphur and Iron

---

| | |
|:---|:---|
| **Commodity** | **Composite Length (m)** |
| Sulphur (S) | 2.5 |
| Iron (Fe) | 2.5 |
| Arsenic (As) | 6.0 |
| Carbon (C) | Length Weighted Average |

---

#### Outlier Capping
Statistical evaluation of arsenic and sulphur concentrations has revealed the need to cap outlier values, to ensure an unbiased estimate of these elements within the Mineral Resource framework. The determination of appropriate capping levels, as detailed in Table 14-6, plays a vital role in refining the resource estimate by mitigating the influence of anomalously high values that could skew results.

#### Table 14-6: Capping of Outlier Values for Arsenic and Sulphur

---

| | | |
|:---|:---|:---|
| **Domain** | **Arsenic (As) <br> (ppm)** | **S Primary Cap <br> (%)** |
| North (32) | 10000 | 9.0 |
| F (31) | 10000 | 9.0 |
| SP (35) | 10000 | 9.0 |
| Tenacity (40) | \*10,000 | \*9.0 |
| South (41) | 10000 | 9.0 |
| External / Dilution (500) | 6500 | 9.0 |
| Notes: \*Limited sample count available for reasonable statistical analysis. Average results of all mineralization applied. | Notes: \*Limited sample count available for reasonable statistical analysis. Average results of all mineralization applied. | Notes: \*Limited sample count available for reasonable statistical analysis. Average results of all mineralization applied. |

---

14.1.4 Variography

Variograms were updated for the 2025 Mineral Resource estimate to assess the continuity of mineralization, and ordinary kriging (OK) was used for the grade interpolations. The following variogram analysis process was implemented to determine the search distances and orientation.

&nbsp;&nbsp;&nbsp;&nbsp;· The composite data for each mineralized domain was transformed to a Normal Score population and analyzed on directional continuity fans to determine the orientation of continuity; Figure 14-7 shows an example of a Normal Score variogram for the SP Zone.

&nbsp;&nbsp;&nbsp;&nbsp;· Variograms were then modelled along the preferred orientation.

&nbsp;&nbsp;&nbsp;&nbsp;· The nugget was determined from the downhole variogram at a lag distance of approximately the composite length.

&nbsp;&nbsp;&nbsp;&nbsp;· Most of the variograms were then modelled using two spherical structures and reviewed at multiple lag distances.

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| 14-11 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;· The variogram models were back-transformed using the Hermite polynomial method, with the number of polynomials determined from cumulative probability plots. An example of the back-transformed variogram for the SP zone is illustrated in Figure 14-8.

&nbsp;&nbsp;&nbsp;&nbsp;· This process was carried out for gold, sulphur, and arsenic values within each mineralized domain.

&nbsp;&nbsp;&nbsp;&nbsp;· Limited arsenic and sulphur data were available for the Tenacity and South domains, and therefore, the variogram models for all combined gold mineralized domains were applied to these domains.

#### Figure 14-7: Normal Score Variogram for the SP Zone (Domain 35)
![](fig14_7.jpg)

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| 14-12 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-8: Back Transformed Variogram Model for the SP Zone (Domain 35)
![](fig14_8.jpg)

The selected variogram model parameters are tabulated in Table 14-7.

#### Table 14-7: Back Transformed Variogram Parameters for All Domains

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Domain** | **Domain No.** | **Axis** | **Nugget** | **Sill 1** | **Range 1<br> (m)** | **Sill 2** | **Range 2<br> (m)** |
| F Zone | 31 | X | 0.471 | 0.363 | 10 | 0.166 | 169 |
| F Zone | 31 | Y | 0.471 | 0.363 | 6 | 0.166 | 29 |
| F Zone | 31 | Z | 0.471 | 0.363 | 4 | 0.166 | 30 |
| North | 32 | X | 0.420 | 0.464 | 9 | 0.116 | 100 |
| North | 32 | Y | 0.420 | 0.464 | 7 | 0.116 | 70 |
| North | 32 | Z | 0.420 | 0.464 | 7 | 0.116 | 68 |
| SP Zone | 35 | X | 0.429 | 0.470 | 12 | 0.101 | 142 |
| SP Zone | 35 | Y | 0.429 | 0.470 | 8 | 0.101 | 40 |
| SP Zone | 35 | Z | 0.429 | 0.470 | 6 | 0.101 | 60 |
| Tenacity Zone | 40 | X | 0.264 | 0.492 | 17 | 0.243 | 110 |
| Tenacity Zone | 40 | Y | 0.264 | 0.492 | 9 | 0.243 | 102 |
| Tenacity Zone | 40 | Z | 0.264 | 0.492 | 36 | 0.243 | 56 |
| South Zone | 41 | X | 0.401 | 0.298 | 26 | 0.301 | 117 |
| South Zone | 41 | Y | 0.401 | 0.298 | 7 | 0.301 | 9 |
| South Zone | 41 | Z | 0.401 | 0.298 | 44 | 0.301 | 67 |

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| 14-13 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.1.5 Search Ellipsoids and Anisotropic Searches for Estimation

It has been postulated that the mineralization at the Greenstone Mine was deposited prior to, during, and after regional deformation events. Mineralization is hosted along highly deformed folded zones and structures. Orientation of the mineralization was extrapolated from the lithology model and structural measurements, which informed the model of local dip and dip direction. The plunge of the mineralization was determined from the dip-plane continuity fan analysis during the variogram modelling for each geologic zone. Variogram directions were based on the defined orientations, and search-ellipse dimensions were defined based on observed variogram ranges as described below:

&nbsp;&nbsp;&nbsp;&nbsp;· The first pass represents a quarter of the average variogram range.

&nbsp;&nbsp;&nbsp;&nbsp;· The second pass represents twice the first pass.

&nbsp;&nbsp;&nbsp;&nbsp;· The third pass represents 75% to 80% of the average variogram range.

&nbsp;&nbsp;&nbsp;&nbsp;· The fourth pass is six times the size of the first pass to estimate as much of the domain volume as reasonably possible.

&nbsp;&nbsp;&nbsp;&nbsp;· The third direction in each pass is narrowed to represent the nature and widths of mineralization better.

The same search ellipsoid parameters applied to the gold interpolation were also applied to arsenic, sulphur, and iron. Table 14-8 summarizes the parameters of the final ellipsoids and threshold dimensions used for grade interpolations for gold, arsenic, sulphur, and iron.

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| 14-14 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 14-8: Final Search Ellipsoid Parameters and Threshold Dimensions

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Commodity** | **Composite Length (m)** | **Search Pass** | **Min Samp** | **Max Samp** | **Min DDH** | **Azimuth (Z)** | **Dip (X)** | **Plunge (Z)** | **X (m)** | **Y (m)** | Z (m) |
| Au | 2.5 | 1 | 3 | 8 | 2 | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | 35 | 20 | 10 |
| Au | 2.5 | 2 | 3 | 12 | 2 | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | 70 | 40 | 20 |
| Au | 2.5 | 3 | 3 | 14 | 2 | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | 105 | 60 | 30 |
| Au | 2.5 | 4 | 2 | 14 | 1 | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | 210 | 120 | 60 |
| S | 2.5 | 1 | 3 | 8 | 2 | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | 35 | 20 | 10 |
| S | 2.5 | 2 | 3 | 12 | 2 | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | 70 | 40 | 20 |
| S | 2.5 | 3 | 3 | 14 | 2 | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | 105 | 60 | 30 |
| S | 2.5 | 4 | 2 | 14 | 1 | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | 210 | 120 | 60 |
| FE\* | 2.5 | 1 | 3 | 8 | 2 | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | 35 | 20 | 10 |
| FE\* | 2.5 | 2 | 3 | 12 | 2 | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | 70 | 40 | 20 |
| FE\* | 2.5 | 3 | 3 | 14 | 2 | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | 105 | 60 | 30 |
| FE\* | 2.5 | 4 | 2 | 14 | 1 | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | 210 | 120 | 60 |
| AS | 6 | 1 | 3 | 6 | 2 | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | 35 | 20 | 10 |
| AS | 6 | 2 | 3 | 8 | 2 | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | 70 | 40 | 20 |
| AS | 6 | 3 | 3 | 10 | 2 | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | 105 | 60 | 30 |
| AS | 6 | 4 | 2 | 10 | 1 | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | VARIOUS / ANISOTROPIC | 210 | 120 | 60 |

---

\* The iron interpolation in the diabase dykes did not use local anisotropy. The Z X Z anisotropic rotation angles for the diabase iron estimate are 90°, 80° and 170°, respectively.

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| 14-15 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.1.6 Bulk Density Data

A total of 7,415 measurements were used in the bulk density analysis. The bulk density for each lithological unit was assessed, and outlier values were removed prior to determining the mean. Contact analysis between mineralized and unmineralized material within lithological units showed no significant difference in bulk density. The mean density for each lithological unit was coded into the block model.

Lithological units with absent values were assigned a weighted mean bulk density value based on similar rock types within the lithological units. A bulk density of 2.00 g/cm<sup>3</sup> was assigned to the overburden. For the voids, a density of 1.96 g/cm<sup>3</sup> was used.

Table 14-9 presents the bulk density values assigned to the block model.

#### Table 14-9: Bulk Density Assigned to Block Model by Lithology Domain

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Lithology** | **Total No. of Bulk Density Samples** | **No. of Outliers Removed** | **No. of Samples (Outliers Removed)** | **Mean Bulk Density** | **Median Bulk Density Values** |
| Overburden (1000) | - | - | - | 2.00 | - |
| Conglomerate 1 (9100) | 263 | 4 | 259 | 2.77 | 2.77 |
| Conglomerate South 1 (10100) | 13 | - | 13 | 2.82 | 2.80 |
| Conglomerate South 2 (10200) | 9 | - | 9 | 2.74 | 2.69 |
| Conglomerate South 3 (10300) | 9 | - | 9 | 2.76 | 2.76 |
| Conglomerate South 4 (10400) | 9 | 1 | 8 | 2.68 | 2.67 |
| Gabbro 1 (16000) | 240 | 1 | 239 | 2.78 | 2.75 |
| Gabbro South 1 (17100) | 41 | - | 41 | 2.80 | 2.75 |
| Gabbro South 2 (17200) | 188 | - | 188 | 2.78 | 2.77 |
| Gabbro South 3 (17300) | 130 | - | 130 | 2.76 | 2.75 |
| Gabbro South 4 (17400) | 17 | - | 17 | 2.85 | 2.83 |
| Gabbro North 2 (16100) | - | - | - | 2.78 | - |
| Gabbro North 3 (16200) | - | - | - | 2.78 | - |
| Gabbro North 4 (16300) | - | - | - | 2.78 | - |
| Gabbro North 5 (16400) | 6 | 1 | 5 | 2.82 | 2.68 |
| Greywacke (18000) | 4460 | 29 | 4431 | 2.75 | 2.75 |
| Lower Iron Formation (12000) | 184 | 1 | 183 | 2.88 | 2.79 |
| Middle Iron Formation (13100) | 13 | 1 | 12 | 3.09 | 3.00 |
| Upper Iron Formation (14100) | 151 | 1 | 150 | 2.80 | 2.75 |
| Iron Formation North 1 (11100) | 332 |  | 332 | 3.05 | 3.12 |
| Iron Formation North 2 (11200) | 238 | 1 | 237 | 2.87 | 2.76 |
| Iron Formation North 3 (11300) | 41 |  | 41 | 2.89 | 2.80 |
| Porphyry (8100) | 724 | 8 | 716 | 2.74 | 2.73 |
| Ultramafic (15000) | 92 | 2 | 90 | 2.89 | 2.91 |
| Diabase (19000) | 63 | 3 | 60 | 2.77 | 2.76 |

---

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| 14-16 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.1.7 Block Model

The block model dimensions for the 2025 Mineral Resource estimate are described in Table 14-10. A regular block size of 5 m (X) by 5 m (Y) by 5 m (Z) with 1 m subcells in all directions was used, and volume cross-checks were undertaken to ensure alignment with grade solids. A kriging neighbourhood analysis (KNA) was performed to assess estimation search parameters applicable for the mining fleet equipment, grade control drill hole spacing, and 10 m bench heights. The potential for future flitch mining was also factored in to determine the nominal block size.

#### Table 14-10: Block Model Properties

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **No. of<br> Blocks** | **Block Size<br> (m)** | **Subcell (m)** | **Dimension <br> (m)** | **Dimension <br> (m)** | **Rotation** | **Origin <br> (UTM NAD83, Zone 16)** | **Origin <br> (UTM NAD83, Zone 16)** |
| Subcell Model | 1026 | 5 | 1 | X | 5130 | 0 | East | 501205 |
| Subcell Model | 362 | 5 | 1 | Y | 1810 | 0 | North | 5502225 |
| Subcell Model | 265 | 5 | 1 | Z | 1325 | 0 | Elevation | -950 |

---

14.1.8 Grade Estimation

Ordinary kriging (OK) was used as the primary interpolator for gold, and the inverse distance squared (ID²) method for arsenic, sulphur, and iron. To validate the OK and ID² models, inverse distance cubed (ID<sup>3</sup>) and nearest-neighbour (NN) variables were also estimated. Local dynamic anisotropic rotation angles were used to orient the search ellipse along the local anisotropy of the lithostructural controls in all domains, except for the iron estimate in the diabase dykes where the search ellipse volume is based on a fixed dip, azimuth, and bearing parameters. The estimation parameters for each pass are summarized below for the different commodities:

&nbsp;&nbsp;&nbsp;&nbsp;· Pass 1

o Minimum of 3 and maximum of 8 composites used in interpolation for gold, sulphur and iron, and minimum of 3 and a maximum of 6 for arsenic.

o Maximum of two composites from any one drill hole.

o Minimum of two drill holes required for interpolation of the given block.

&nbsp;&nbsp;&nbsp;&nbsp;· Pass 2

o Minimum of 3 and maximum of 12 composites in the search ellipse for interpolation of gold, sulphur, and iron, and a maximum of 8 composites for arsenic.

o Maximum of two composites from any one drill hole.

o Minimum of two drill holes required for interpolation of the given block.

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| 14-17 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;· Pass 3

o Minimum of 3 and maximum of 14 composites in the search ellipse for interpolation of gold, sulphur, and iron, and a maximum of 10 for arsenic.

o Maximum of two composites from any one drill hole.

o Minimum of two drill holes required for interpolation of the given block.

&nbsp;&nbsp;&nbsp;&nbsp;· Pass 4

o Minimum of 2 and maximum of 14 composites in the search ellipse for interpolation of gold, sulphur, and iron, and a maximum of 10 for arsenic.

o Maximum of two composites from any one drill hole.

o Minimum of one drill hole required for interpolation of the given block.

The estimation of block grades is illustrated in plan view and cross-section (Figure 14-9 and Figure 14-10, respectively).

#### Figure 14-9: Plan View Showing Estimated Block Grades
Source: Equinox 2026.

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| 14-18 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-10: Section 504900 mE Showing Estimated Block Grades, Drill Holes, Mineralized Domains, and 2025 Resource Pit Shell
Source: Equinox 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.1.9 Block Model Validation

Various validation steps were taken to ensure the block model is a robust representation of the composites and mineralization trends. The following validations were undertaken:

&nbsp;&nbsp;&nbsp;&nbsp;· Ensure block model volumes across the various domains were representative of the input wireframes.

&nbsp;&nbsp;&nbsp;&nbsp;· Ensure that sufficient blocks are estimated in the various estimation passes.

&nbsp;&nbsp;&nbsp;&nbsp;· Visual checks on vertical sections comparing composite gold grades against block gold grades.

&nbsp;&nbsp;&nbsp;&nbsp;· Visual assessment of influence of high-grade samples on block grades.

&nbsp;&nbsp;&nbsp;&nbsp;· Global statistical checks comparing the block model gold grades with the declustered composite data.

14.1.9.1 Volume Validation

Volume comparisons of the input wireframes and sub-blocks in the model for the mineralized domains reconcile with a 0.1% absolute difference for the domains, which include the:

&nbsp;&nbsp;&nbsp;&nbsp;· North Domain

&nbsp;&nbsp;&nbsp;&nbsp;· F-Domain

&nbsp;&nbsp;&nbsp;&nbsp;· SP- Domain

&nbsp;&nbsp;&nbsp;&nbsp;· Tenacity Domain

&nbsp;&nbsp;&nbsp;&nbsp;· South Domain

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| 14-19 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Variances within domain 1000 (external diluted domain), which encompasses the overburden, are higher at 12.1%; the higher variance is due to the block model not covering the entire extent of the lithological model. Table 14-11 summarizes the volume validation.

#### Table 14-11: Volume Comparison Between Wireframes and Block Model

---

| | | | |
|:---|:---|:---|:---|
| **Domains** | **Wireframes** | **Block Model Volume** | **% Difference** |
| Mineralized | 128423828.1 | 128304496.0 | -0.09% |
| Ext. Diluted | 58831909.4 | 51657742.0 | -12.19% |

---

14.1.9.2 Visual Validation — Composite Grades vs. Block Grades

Visual comparisons of block grades and composites in cross-section and plan view generally show a good correlation between block grades and drillhole composite grades (Figure 14-11 and Figure 14-12). No excessive over-extrapolation of grade was observed, and the block grades were found to be an accurate representation of the composite grades.

#### Figure 14-11: Section 504800 mE at 25 m Width Showing Estimated Block Grades, Drill Holes, and 2025 Resource Pit Shell
![](fig14_11.jpg)

Source: Equinox 2026.

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| 14-20 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-12: Section 505300 mE at 50 m Width Showing Estimated Block Grades, Drill Holes, and 2025 Resource Pit Shell
Source: Equinox 2026.

14.1.9.3 Statistical Validation of Interpolation Methods

Mean block grades from the OK, ID<sup>2</sup>, ID<sup>3</sup>, and declustered NN estimates are summarized in Table 14-12 by mineralized domain and search neighbourhood. For the principal mineralization domains, the declustered NN, OK, ID<sup>2</sup>, and ID<sup>3</sup> gold grades are very similar and indicate that the selected primary interpolant, OK, does not overly smooth gold grades.

#### Table 14-12: Comparison of Mean Block Grades for OK, ID<sup>2</sup>, ID<sup>3</sup>, and NN Estimates for Mineralized Domains

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Search Neighbourhood** | **Domain** | **Tonnes<br> (Mt)** | **NN** | **OK** | **ID2** | **ID3** | **OK vs NN** | **ID2 vs NN** | **ID3 vs NN** |
| Pass 1 | F - Domain | 14 | 1.26 | 1.28 | 1.28 | 1.28 | 1.6% | 2.1% | 2.2% |
| Pass 1 | NORTH | 44 | 1.29 | 1.28 | 1.30 | 1.31 | -0.8% | 0.5% | 0.9% |
| Pass 1 | SP | 35 | 0.87 | 0.87 | 0.88 | 0.88 | 0.3% | 1.0% | 1.1% |
| Pass 1 | TENACITY | 3 | 1.10 | 1.13 | 1.14 | 1.14 | 2.4% | 3.2% | 3.1% |
| Pass 1 | SOUTH | 3 | 0.63 | 0.65 | 0.65 | 0.65 | 3.1% | 3.0% | 3.0% |
| Pass 1 | Domain 500 | 525 | 0.07 | 0.07 | 0.07 | 0.07 | 1.0% | 0.4% | 0.2% |
| Pass 2 | F-Domain | 25 | 1.44 | 1.49 | 1.53 | 1.54 | 3.4% | 6.2% | 6.8% |
| Pass 2 | NORTH | 71 | 1.29 | 1.32 | 1.32 | 1.33 | 1.9% | 2.4% | 2.6% |
| Pass 2 | SP | 50 | 0.80 | 0.84 | 0.85 | 0.84 | 4.4% | 5.3% | 5.2% |
| Pass 2 | TENACITY | 7 | 1.01 | 1.03 | 1.04 | 1.04 | 1.9% | 2.6% | 2.7% |
| Pass 2 | SOUTH | 6 | 0.77 | 0.77 | 0.76 | 0.77 | 0.2% | -0.8% | -0.6% |
| Pass 2 | Domain 500 | 1533 | 0.05 | 0.06 | 0.05 | 0.05 | 1.0% | 0.4% | 0.1% |
| Pass 3 | F-Domain | 15 | 1.97 | 1.85 | 1.94 | 1.97 | -6.3% | -1.6% | -0.2% |
| Pass 3 | NORTH | 23 | 0.90 | 1.05 | 0.99 | 0.98 | 16.4% | 10.5% | 8.3% |
| Pass 3 | SP | 18 | 0.60 | 0.68 | 0.65 | 0.64 | 12.5% | 7.7% | 6.1% |
| Pass 3 | TENACITY | 2 | 0.93 | 1.21 | 1.06 | 1.02 | 30.3% | 14.6% | 9.8% |
| Pass 3 | SOUTH | 3 | 0.88 | 0.89 | 0.82 | 0.82 | 0.4% | -7.2% | -7.0% |
| Pass 3 | Domain 500 | 1448 | 0.04 | 0.04 | 0.04 | 0.04 | 3.5% | 2.6% | 2.2% |
| Total | All Mineralization | 318 | 1.11 | 1.14 | 1.15 | 1.15 | 2.4% | 2.9% | 3.0% |

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| 14-21 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

A summary of the comparison of the 2.5 m declustered composite grades versus the block grades is summarized in Table 14-13.

#### Table 14-13: Comparison of Mean Block Grades with Declustered Composites by Mineralized Domain

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| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Domain<br> No.** | **2.5 m Declustered Composites** | **2.5 m Declustered Composites** | **2.5 m Declustered Composites** | **2.5 m Declustered Composites** | **2.5 m Declustered Composites** | **2.5 m Declustered Composites** | **2.5 m Declustered Composites** | **Block Model Grades** | **Block Model Grades** | **Block Model Grades** | **Block Model Grades** | **Block Model Grades** |
| **Domain<br> No.** | **No. of Comps** | **Min<br> (Au g/t)<sup>1</sup>** | **Max<br> (Au g/t)<sup>1</sup>** | **Mean <br> (Au g/t)<sup>2</sup>** | **CoV<sup>2</sup>** | **Mean (Au g/t)<sup>1</sup>** | **CoV<sup>1</sup>** | **No. Blocks** | **Min <br> (Au g/t)** | **Max <br> (Au g/t)** | **Mean (Au g/t)** | **CoV** |
| 31 | 8986 | 0.00 | 40.00 | 1.28 | 2.15 | 1.78 | 2.39 | 2808242 | 0.00 | 25.21 | 1.17 | 1.39 |
| 32 | 23906 | 0.00 | 45.00 | 1.14 | 2.55 | 1.12 | 2.60 | 6248861 | 0.00 | 34.81 | 1.13 | 1.32 |
| 35 | 19097 | 0.00 | 40.00 | 0.87 | 2.44 | 0.78 | 2.69 | 4107168 | 0.00 | 22.34 | 0.82 | 1.29 |
| 40 | 1171 | 0.00 | 15.00 | 1.02 | 1.51 | 0.85 | 1.55 | 474221 | 0.00 | 8.63 | 1.05 | 0.83 |
| 41 | 1897 | 0.00 | 15.00 | 0.67 | 1.98 | 0.67 | 1.92 | 786038 | 0.00 | 11.89 | 0.80 | 1.07 |
| 500 | 235895 | 0.00 | 5.00 | 0.06 | 4.44 | 0.04 | 5.33 | 86481076 | 0.00 | 5.00 | 0.05 | 2.39 |
| <sup>1</sup>Declustered composites<br><sup>2</sup>Non-declustered composites | <sup>1</sup>Declustered composites<br><sup>2</sup>Non-declustered composites | <sup>1</sup>Declustered composites<br><sup>2</sup>Non-declustered composites | <sup>1</sup>Declustered composites<br><sup>2</sup>Non-declustered composites | <sup>1</sup>Declustered composites<br><sup>2</sup>Non-declustered composites | <sup>1</sup>Declustered composites<br><sup>2</sup>Non-declustered composites | <sup>1</sup>Declustered composites<br><sup>2</sup>Non-declustered composites | <sup>1</sup>Declustered composites<br><sup>2</sup>Non-declustered composites | <sup>1</sup>Declustered composites<br><sup>2</sup>Non-declustered composites | <sup>1</sup>Declustered composites<br><sup>2</sup>Non-declustered composites | <sup>1</sup>Declustered composites<br><sup>2</sup>Non-declustered composites | <sup>1</sup>Declustered composites<br><sup>2</sup>Non-declustered composites | <sup>1</sup>Declustered composites<br><sup>2</sup>Non-declustered composites |

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The block model validations indicate that the estimation of the gold grades is reasonable. Reconciliation shows minor variations in the grade control production data compared to the Mineral Resource estimate model, although within acceptable tolerances.

14.1.9.4 Statistical Validation — Swath Plots

Swath plots were produced for estimated blocks and declustered composites of all mineralized domains at increments of 30 m (Northing and Vertical) and 100 m (Easting) for gold grades and for blocks estimated within Pass 1 and Pass 2. Peaks and lows in estimated grades should generally follow those in composite grades in well-informed areas of the block model. In contrast, less well-informed areas can occasionally exhibit discrepancies in grades.

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| 14-22 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Swath plots of gold grades for the mineralized domains are shown in Figure 14-13 by Easting, in Figure 14-14 by Northing, and in Figure 14-15 by elevation. Peaks and lows in gold content generally match those in composite frequency; no bias was found in the Mineral Resource estimate in this regard.

#### Figure 14-13: Swath Plot for Gold for All Mineralization Domains by Easting

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| 14-23 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-14: Swath Plots for Gold for All Mineralization Domains by Northing
![](fig14_14.jpg)

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| 14-24 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-15: Swath Plots for Gold for All Mineralization Domains by Elevation
14.1.9.5 Grade Smoothing and Conditional Bias Validations

To determine the impact of the interpolator during grade estimation, Q:Q plots were constructed comparing the 2.5 m composite grades with the NN, ID<sup>2</sup>, and OK estimate grades. As expected, the NN estimate shows an almost identical distribution to the composite distribution. Higher levels of grade smoothing are observed when using the OK interpolant. Figure 14-16 shows an example of a Q:Q plot for domain 31 (F zone).

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| 14-25 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-16: Q:Q Plot Comparing OK, ID<sup>2</sup> and NN Estimates for Domain 31 (F Zone)
14.1.9.6 Reconciliation of Production Data versus Mineral Resource estimate model

The Greenstone Mine was commissioned in April 2024; since start-up, both throughput and recovered metal have been on an upward trend. Short-term and grade-control models are currently being used to support mining and mill feed scheduling. A comparison between a re-blocked resource model (adjusted to 5×5×10 m blocks in the X, Y, and Z directions) and plant-adjusted mining actuals indicates that the re-blocked model is approximately 3% higher in grade than the 2025 production year(Table 14-14).

#### Table 14-14: Comparison of Re-blocked 2025 Mineral Resource Estimate to Plant Adjusted with Mining Actuals to December 31, 2025

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| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Re-blocked 2025 MRE** | **Re-blocked 2025 MRE** | **Re-blocked 2025 MRE** | **Re-blocked 2025 MRE** | **Plant Adjusted w Mining Actuals** | **Plant Adjusted w Mining Actuals** | **Plant Adjusted w Mining Actuals** | **Plant Adjusted w Mining Actuals** | **Variance to Plant Actuals** | **Variance to Plant Actuals** | **Variance to Plant Actuals** | **Variance to Plant Actuals** |
| **Month** | **Tonnes<br> (Mt)** | **Grade (g/t)** | **Metal <br> (oz)** | **As (ppm)** | **Tonnes (Mt)** | **Grade (g/t)** | **Metal <br> (oz)** | **As<br> (ppm)** | **Tonnes (%)** | **Grade (%)** | **Metal (%)** | **As (%)** |
| January | 0.81 | 0.87 | 22729 | 548 | 0.95 | 0.69 | 21050 | 441 | -14% | 26% | 8% | 24% |
| February | 0.51 | 0.86 | 14145 | 511 | 0.50 | 0.93 | 14964 | 452 | 2% | -8% | -5% | 13% |
| March | 0.89 | 0.74 | 21130 | 353 | 0.79 | 0.83 | 20918 | 479 | 13% | -11% | 1% | -26% |
| April | 0.93 | 0.89 | 26350 | 417 | 0.80 | 0.76 | 19477 | 442 | 16% | 17% | 35% | -5% |
| May | 1.35 | 0.87 | 37812 | 454 | 1.32 | 0.72 | 30474 | 505 | 2% | 22% | 24% | -10% |
| June | 0.77 | 1.02 | 25035 | 478 | 0.80 | 0.87 | 22287 | 460 | -4% | 17% | 12% | 4% |
| July | 1.18 | 0.79 | 29829 | 407 | 1.25 | 0.70 | 28056 | 477 | -6% | 13% | 6% | -15% |
| August | 1.54 | 0.83 | 41109 | 411 | 1.32 | 0.85 | 35988 | 489 | 17% | -2% | 14% | -16% |
| September | 1.38 | 0.98 | 43412 | 650 | 1.14 | 1.15 | 42241 | 852 | 22% | -15% | 3% | -24% |
| October | 1.88 | 0.94 | 56910 | 483 | 1.90 | 0.97 | 59536 | 552 | -1% | -3% | -4% | -13% |
| November | 1.49 | 0.89 | 42290 | 566 | 1.90 | 0.97 | 59536 | 552 | -22% | -9% | -29% | 2% |
| December | 1.65 | 0.92 | 48712 | 564 | 1.48 | 0.88 | 42055 | 475 | 11% | 4% | 16% | 19% |
| **Total** | **14.36** | **0.89** | **409462** | **492** | **13.70** | **0.86** | **377505** | **526** | **5%** | **3%** | **8%** | **-6%** |
| Notes:<br>MRE Mineral Resource estimate | Notes:<br>MRE Mineral Resource estimate | Notes:<br>MRE Mineral Resource estimate | Notes:<br>MRE Mineral Resource estimate | Notes:<br>MRE Mineral Resource estimate | Notes:<br>MRE Mineral Resource estimate | Notes:<br>MRE Mineral Resource estimate | Notes:<br>MRE Mineral Resource estimate | Notes:<br>MRE Mineral Resource estimate | Notes:<br>MRE Mineral Resource estimate | Notes:<br>MRE Mineral Resource estimate | Notes:<br>MRE Mineral Resource estimate | Notes:<br>MRE Mineral Resource estimate |

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| 14-26 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

On a global basis, the modelled ounces are approximately 8% higher than the plant actuals to date. This variance is considered acceptable at this stage, as the Mine has only recently commenced operations and a significant proportion of the mined ore has not yet been processed (currently in stockpile).

14.1.9.7 Discussion on Block Model Validation

A comparison of the model volumes with the mineralization wireframes shows a variance of less than 1%. The block model accurately represents composite gold grades, with global statistical validation indicating no significant overestimation or underestimation. Local statistical validations demonstrate a strong correlation between the interpolated blocks and the composites. The QP considers the model to be overall a reliable representation of the deposit's mineralization.

14.1.10 Mineral Resource Classification

14.1.10.1 Mineral Resource Classification Definition

The Mineral Resource was classified using the CIM (2014) definitions, which are incorporated by reference in NI 43-101. The CIM (2014) Definition Standards for Mineral Resources and Mineral Reserves provide definitions and guidance for the Mineral Resource and Mineral Reserve confidence categories. The category to which a Mineral Resource or Reserve estimate is assigned depends on the level of confidence in the geological information available on the mineral deposit, the quality and quantity of data available, the level of detail of the technical and economic information which has been generated about the deposit, and the confidence in the interpretation of those data and information.

Due to the uncertainty that may be attached to Inferred Mineral Resources, it cannot be assumed that all of an Inferred Mineral Resource could be upgraded to an Indicated or Measured Mineral Resource as a result of continued exploration. Inferred Mineral Resources must be excluded from estimates forming the basis of pre-feasibility, feasibility studies, or life of mine plans in developed mines.

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| 14-27 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

14.1.10.2 Resource Classification for the Greenstone Mine

Mineral Resource classification has been carried out to categorize resources as Measured, Indicated, or Inferred based on the following criteria:

&nbsp;&nbsp;&nbsp;&nbsp;· Measured Mineral Resources are defined as blocks within 15 m of the RCGC drilling

&nbsp;&nbsp;&nbsp;&nbsp;· Indicated Mineral Resources are defined as blocks estimated in passes 1, 2, or 3, provided that the distance to the closest composite is less than 35 m.

&nbsp;&nbsp;&nbsp;&nbsp;· Inferred Mineral Resources are defined as blocks estimated in all passes where the distance to the closest composite is greater than 35 m but less than 115 m and was estimated using composites from at least two drill holes.

Wireframe solids based on the Measured, Indicated, and Inferred criteria using RCGC and DDH holes, and applying a minimum of 3 holes, were created and used to code the classification into the block model. These solids were smoothed by removing small internal isolated volumes to reduce the "spotted dog" phenomenon in the primary numerical categorization.

&nbsp;&nbsp;&nbsp;&nbsp;· Post-processing steps were implemented on the preliminary classifications to ensure that the resource categories align with mine planning requirements. The following adjustments were made:

&nbsp;&nbsp;&nbsp;&nbsp;· Blocks classified as Inferred and located within 15 m of previously mined areas and a drill hole spacing of less than 70 m were upgraded to the Indicated category.

&nbsp;&nbsp;&nbsp;&nbsp;· All blocks within grade shells that contained only one drill hole and that were outside of the Life of Mine (LOM) pit and classified as Measured or Indicated were downgraded to the Inferred category.

&nbsp;&nbsp;&nbsp;&nbsp;· Measured and Indicated blocks within grade shells containing two or more drill holes that visually exhibited potential local over-smoothing of high grades were downgraded to the Inferred category.

&nbsp;&nbsp;&nbsp;&nbsp;· Instances where numerical grade shells were created in Leapfrog but did not contain any drill holes, along with blocks estimated in the fourth search pass that had only one drill hole, were downgraded and considered not-in-resource (unclassified).

Figure 14-17 shows the Mineral Resource classification, along with the 2025 optimized resource shell that delineates the in-pit and underground Mineral Resources.

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| 14-28 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-17: Plan View (300 m Elevation) and Longitudinal View Looking North (5,503,000 mN) Showing Categorized Mineral Resources
![](fig14_17.jpg)

Source: Equinox 2026.

To assess the in-pit Mineral Resources, pit optimizations were conducted at various gold prices using the 2025 Mineral Resource block model, which includes Measured, Indicated, and Inferred blocks. The parameters for input and cut-off grades used to define the 2025 in-pit Mineral Resource are detailed in Table 14-15.

An optimized pit shell based on a gold price of $2,300/oz Au was selected. Applicable costs were used in the creation of the shell in addition to constraining it to the surrounding lakes, mine infrastructure, and waste rock disposal. Additionally, the optimization was extended deeper in the eastern section to ensure that the Mineral Reserves are a subset of the Mineral Resources in the 2025 Mineral Resource pit optimization.

#### Table 14-15: 2025 Greenstone Mine Pit Optimization Parameters

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| | | |
|:---|:---|:---|
| **Parameter** | **Unit** | **Value** |
| Gold Price | $/oz | 2300 |
| Exchange Rate | USD/CAD | 1.00:1.33 |
| Royalty Rate | % | 3 |
| Mining Cost | $/t | 3.41 |
| Incremental Bench Cost | $/10m Bench | 0.03 |
| Processing Cost | $/t | 12.20 |
| G&A Cost | $/t | 6.81 |
| Refining and Transportation Cost | $/oz <sub>rec.</sub> | 3.29 |
| Total Ore Based Cost | $/t | 25.86 |
| Cut-Off Grade | g/t Au | 0.18 |
| Average Metallurgical Recovery | % | 86.4 |
| Mining Recovery | % | 98.8 |
| Mining Dilution | % | 0 |
| Slope Angle | Degrees | 50° to 58° rock, 20° overburden |
| Maximum Mining Rate | Mt/a | 72 |
| Processing Rate | Mt/a | 9.86 |
| Discount Rate | % | 5 |

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| 14-29 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

14.1.10.3 Underground Mineral Resources

The 2025 underground Mineral Resource was constrained by Deswik Stope Optimizer (DSO) shapes, optimized using the cut-off grade determined using the parameters presented in Table 14-16.

#### Table 14-16: Input Parameters Used for the Underground Cut-Off Grade and Mineable Stopes Generation

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| | | |
|:---|:---|:---|
| **Input Parameter** | **Unit** | **Value** |
| Gold Price | $/oz | 2300 |
| Exchange Rate | USD/CAD | 1.00:1.33 |
| Royalty Rate | % | 3 |
| Mining Costs | $/t | 65 |
| Refining and Transportation Cost | &nbsp;&nbsp;$/oz <sub>rec.</sub> | 3.29 |
| Processing Costs | $/t | 12.20 |
| Process Sustaining Capital Cost | $/t | 1.2 |
| G&A Cost | $/t | Not Applicable |
| Cut-Off Grade | g/t Au | 1.1 |
| Average Metallurgical Recovery | % | 91 |
| Minimum Stope Size | m | (LxHxW): 5 x 9 x 2 |
| Maximum Stope Size | m | (LxHxW) 10 x 22.5 x 95) |

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| 14-30 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

The 2025 underground constrained Mineral Resource estimate presented herein uses a rounded lower cut-off grade of 1.10 g/t Au. It includes Mineral Resources located outside the 2025 pit optimization shell.

14.1.10.4 Summary of the 2025 Greenstone Mine Mineral Resource

The 2025 Mineral Resource estimate update, inclusive of Mineral Reserves, is presented in Table 14-17. The Mineral Resources were constrained within an optimized pit shell and underground mineable shapes. Assumptions and key factors that impacted on the Mineral Resource estimate are listed:

&nbsp;&nbsp;&nbsp;&nbsp;· Modelling of the grade shells focused on improved alignment with the litho-structural controls and overall geological understanding of the deposit. Multiple sensitivity analyses were completed to reconcile the global grade-shell geometry with current mining performance and the updated geological criteria.

&nbsp;&nbsp;&nbsp;&nbsp;· Domains were based on geological and structurally boundaries and higher-grade estimation was not restricted using internal domains using soft boundaries.

&nbsp;&nbsp;&nbsp;&nbsp;· New capping thresholds were established based on statistical analysis, resulting in a lower global grade cap for all domains.

&nbsp;&nbsp;&nbsp;&nbsp;· The inclusion of new drill hole data, particularly from the reverse circulation grade control drilling completed since the 2024 Mineral Resource estimate, has enabled improved local estimates near current mining activities. Additionally, the data from these grade-control drill holes have provided valuable insights into the parameters to be used for the overall estimation.

#### Table 14-17: Summary of Mineral Resource Estimate (Inclusive of Mineral Reserves) for the Greenstone Mine – Effective Date December 31, 2025

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Category** | **In-Pit >0.18 g/t Au** | **In-Pit >0.18 g/t Au** | **In-Pit >0.18 g/t Au** | **Underground >1.10 g/t Au** | **Underground >1.10 g/t Au** | **Underground >1.10 g/t Au** |
| **Category** | **Tonnage (kt)** | **Gold Grade (g/t)** | **Contained Gold (koz)** | **Tonnage (kt)** | **Gold Grade (g/t)** | **Contained Gold (koz)** |
| Measured | 7432 | 0.85 | 202 | 2 | 0.76 | 0.04 |
| Indicated | 192390 | 0.99 | 6129 | 22101 | 2.34 | 1661 |
| **M+I** | **199822** | **0.99** | **6331** | **22103** | **2.34** | **1661** |
| Inferred | 17841 | 0.86 | 491 | 16382 | 2.37 | 1247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***inclusive*** of Mineral Reserves<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***inclusive*** of Mineral Reserves<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***inclusive*** of Mineral Reserves<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***inclusive*** of Mineral Reserves<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***inclusive*** of Mineral Reserves<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***inclusive*** of Mineral Reserves<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***inclusive*** of Mineral Reserves<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding. |

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| 14-31 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Table 14-18 presents the 2025 in-pit Mineral Resources exclusive of Mineral Reserves and the underground Mineral Resources constrained by mineable shapes.

#### Table 14-18: 2025 Mineral Resources (Exclusive of Mineral Reserves) for the Greenstone Mine – Effective Date December 31, 2025

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Category** | **In-Pit >0.18 g/t Au** | **In-Pit >0.18 g/t Au** | **In-Pit >0.18 g/t Au** | **Underground >1.10 g/t Au** | **Underground >1.10 g/t Au** | **Underground >1.10 g/t Au** |
| **Category** | **Tonnage (kt)** | **Gold Grade (g/t)** | **Contained Gold (koz)** | **Tonnage (kt)** | **Gold Grade (g/t)** | **Contained Gold (koz)** |
| Measured | 21 | 0.51 | 0 | 1 | 0.63 | 0.01 |
| Indicated | 32470 | 1.28 | 1335 | 21479 | 2.36 | 1631 |
| **M+I** | **32491** | **1.28** | **1335** | **21479** | **2.36** | **1631** |
| Inferred | 14847 | 0.88 | 418 | 16335 | 2.37 | 1245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***exclusive*** of Mineral Reserves.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***exclusive*** of Mineral Reserves.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***exclusive*** of Mineral Reserves.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***exclusive*** of Mineral Reserves.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***exclusive*** of Mineral Reserves.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***exclusive*** of Mineral Reserves.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table ***exclusive*** of Mineral Reserves.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources is reported at a minimum recovered gold cut-off grade of 0.18g/t and is constrained within a pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pseudo flow pit shell use a long-term gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of AU recovered and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a minimum recovered gold cut-off grade of 1.10g/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A gold price of $2,300/oz was used to determine the underground cut-off grade, average mining costs of $65.00/t, processing costs of $12.20/t, refining and transportation costs of $3.29/oz of Au recovered, and process sustaining capital costs of $1.20/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Average metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade. The averages value for the open pit is 86.4% and underground value is 91%.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A royalty rate of 3.0% was assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Numbers may not add due to rounding. |

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The QP is not aware of any environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other relevant factors that could materially affect the Greenstone Mine Mineral Resource estimate, except for uncertainty around the position, size, and geometry of voids from historical mine workings within the pit, which remains a risk to the Mineral Resource estimate.

14.2 Kailey, Key Lake and Brookbank Deposits Mineral Resource Estimates

The Mineral Resource estimates for the Kailey, Key Lake and Brookbank deposits are updates of the Mineral Resources estimates prepared by GMS in 2020, with an effective date of September 2020 (Dorval et al. 2024). There have been no updates to the resource models; the current Mineral Resource estimates use updated costs and pricing to determine the cut-off grades and define the constraining mining shapes. The QP has reviewed the modelling, selected optimization parameters, and estimation processes for the Kailey, Key Lake and Brookbank deposits and considers them acceptable for Mineral Resource estimation.

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| 14-32 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

All location data relating to these Mineral Resource estimates are in UTM Zone 16N and the NAD 83 datum.

No Mineral Reserves have been estimated at the Kailey, Key Lake, and Brookbank deposits. Mineral Resources reported in this section are considered to be exclusive of Mineral Reserves. Open pit Mineral Resources are constrained within optimized pit shells based on 2025 cost assumptions, and underground Mineral Resources are constrained within mineable shapes. The effective date of the Mineral Resource estimates is December 31, 2025.

14.2.1 Key Lake Deposit

14.2.1.1 Drill Hole Database

The Key Lake deposit has been tested by diamond drilling over a strike length of 2,300 m and down to a vertical depth of 300 m. The Key Lake drill hole database includes 312 drill holes totalling 63,919 m, of which 23,112 m were assayed.

The drill holes are generally spaced at 50 m in the central and eastern portions of the deposit, with some areas infilled to 25 m. The western portion of the deposit is drilled at 100 m spacing. The main components of the database are the collar, survey, assay, and lithology tables. A re-sampling program of the historical drill core at Key Lake will assist with the overall sample coverage and overcome the effects of previous under-sampling.

14.2.1.2 Topography

Topography is in the form of a wireframe with a spatial resolution of 10 m. The topography matched well with the drillhole collars, with no major discrepancies identified.

14.2.1.3 Geological Modelling Approach

The Key Lake gold deposit is hosted with a package of sediments (greywacke and arkose), iron formations, and narrow porphyry dykes. Mineralization generally follows the regional foliation, aligned with the porphyry dyke that acts as a marker horizon. The deposit shows both structural and lithological controls, with mineralization hosted predominantly in the arkosic units and felsic dykes. Only a small amount of mineralization is found in the iron formations. Gold mineralization occurs within multiple quartz–carbonate stringers and fine sulphide disseminations that results in subvertical, erratic zones that are difficult to interpret.

The Key Lake deposit has been modelled as twelve discrete, continuous zones named KL-1 to KL-12 (Figure 14-18). The zones are generally wide; therefore, no minimum mining thickness was considered during modelling (Figure 14-19). An overburden surface was also modelled from the lithology logging and varies between 10 m and 20 m thick above the deposit.

The drilling completed by Dome Exploration was used in the interpretation but excluded from the resource estimation as the assays and drill hole locations could not be verified.

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| 14-33 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-18: Modelled Domains of the Key Lake Deposit, Looking North
![](fig14_18.jpg)

Source: Equinox 2026.

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| 14-34 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-19: Typical Section at 492100 E (Looking East) Showing the Mineralization Wireframes and Overburden (OVB); Drill Hole Traces Show Gold Grades (g/t)
![](fig14_19.jpg)

Source: Equinox 2026.

14.2.1.4 Assay Capping and Compositing

Grade capping levels were determined using probability plots of the various domains and applied to the assay intervals. Overall, roughly 12% of the metal was removed by capping. Length-weighted assay statistics and capping levels are shown in Table 14-19. An example of the probability plot for the KL-5 domain is shown in Figure 14-20.

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| 14-35 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 14-19: Length-Weighted Assays Statistics Showing Grade Capping Levels and Metal Loss Factors

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Domain** | **No. of <br> Assays** | **Max.<br> (g/t Au)** | **Uncut Mean<br> (g/t Au)** | **High-Grade Capping <br> (g/t Au)** | **Cut Mean <br> (g/t Au)** | **No. <br> Samples Cut** | **% Samples <br> Capped** | **% Loss Metal <br> Factor** |
| KL-1 | 157 | 252 | 2.36 | 25 | 1.64 | 3 | 1.9 | -30 |
| KL-2 | 49 | 38.3 | 1.44 | 20 | 1.26 | 2 | 4.1 | -13 |
| KL-3 | 87 | 46.8 | 1.67 | 15 | 1.26 | 2 | 2.3 | -25 |
| KL-4 | 819 | 229 | 1.53 | 15 | 1.27 | 5 | 0.6 | -17 |
| KL-5 | 1046 | 420 | 1.24 | 20 | 1.10 | 2 | 0.2 | -12 |
| KL-6 | 895 | 121 | 1.10 | 20 | 0.98 | 1 | 0.1 | -10 |
| KL-7 | 168 | 12.4 | 1.35 |  | 1.35 | 0 | 0 | 0 |
| KL-8 | 113 | 38.6 | 1.12 | 15 | 1.05 | 1 | 0.9 | -6 |
| KL-9 | 44 | 20.65 | 1.51 |  | 1.51 | 0 | 0 | 0 |
| KL-10 | 59 | 8.82 | 2.26 |  | 2.26 | 0 | 0 | 0 |
| KL-11 | 54 | 7.83 | 1.18 |  | 1.18 | 0 | 0 | 0 |
| KL-12 | 506 | 7.62 | 0.89 |  | 0.89 | 0 | 0 | 0 |
| **Total** | **3997** |  |  |  |  |  |  | **-12** |

---

**Note:** % metal loss factors calculated from length multiplied by grade and does not consider the spatial location of the outliers.

#### Figure 14-20: Example of a Probability Plot for the KL-5 Domain
Core sampling was undertaken at 1.0 m and 1.5 m intervals, and samples were broken down on visual lithological and alteration contacts. Considering the scale of the deposit and its suitability for open-pit mining, a 2 m compositing run-length split by domain was applied, with any residuals less than 0.5 m added to the last composite. A minimum coverage of 50% was required to create a composite. Missing intervals were replaced with a grade of 0.001 g/t Au.

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| 14-36 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Length-weighted composite statistics of drilling used in the estimation are shown in Table 14-20. The coefficients of variation are generally low for this deposit style (less than 2.0).

#### Table 14-20: Length-Weighted 2 m Composite Statistics of Capped Gold Grades by Domain

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Domain** | **No. of <br> 2 m Composites** | **Min.<br> (g/t Au)** | **Max. <br> (g/t Au)** | **Mean <br> (g/t Au)** | **Median <br> (g/t Au)** | **SD** | **Variance** | **CV** |
| KL-1 | 88 | 0.010 | 12.51 | 1.64 | 0.82 | 2.55 | 6.51 | 1.55 |
| KL-2 | 28 | 0.047 | 8.49 | 1.24 | 0.63 | 1.81 | 3.28 | 1.46 |
| KL-3 | 53 | 0.015 | 7.59 | 1.23 | 0.70 | 1.49 | 2.23 | 1.22 |
| KL-4 | 407 | 0.001 | 10.00 | 1.32 | 0.96 | 1.43 | 2.05 | 1.09 |
| KL-5 | 612 | 0.001 | 19.10 | 1.02 | 0.53 | 1.48 | 2.18 | 1.45 |
| KL-6 | 471 | 0.001 | 10.17 | 0.97 | 0.73 | 1.07 | 1.13 | 1.10 |
| KL-7 | 90 | 0.001 | 7.57 | 1.27 | 0.79 | 1.29 | 1.66 | 1.01 |
| KL-8 | 60 | 0.001 | 5.28 | 1.01 | 0.71 | 1.10 | 1.21 | 1.09 |
| KL-9 | 18 | 0.001 | 12.64 | 2.10 | 0.33 | 3.43 | 11.78 | 1.63 |
| KL-10 | 39 | 0.001 | 7.45 | 1.96 | 1.79 | 1.82 | 3.32 | 0.93 |
| KL-11 | 38 | 0.001 | 5.72 | 0.90 | 0.48 | 1.31 | 1.71 | 1.45 |
| KL-12 | 259 | 0.001 | 5.12 | 0.92 | 0.67 | 0.87 | 0.76 | 0.95 |
| **Notes:** CV = coefficient of variation; SD = standard deviation. | **Notes:** CV = coefficient of variation; SD = standard deviation. | **Notes:** CV = coefficient of variation; SD = standard deviation. | **Notes:** CV = coefficient of variation; SD = standard deviation. | **Notes:** CV = coefficient of variation; SD = standard deviation. | **Notes:** CV = coefficient of variation; SD = standard deviation. | **Notes:** CV = coefficient of variation; SD = standard deviation. | **Notes:** CV = coefficient of variation; SD = standard deviation. | **Notes:** CV = coefficient of variation; SD = standard deviation. |

---

14.2.1.5 Variography

Experimental variograms were constructed for the better-populated domains (KL-5, KL-6, and KL-12) using the capped gold composite intervals. Nugget sills were estimated from downhole variograms at a 2 m lag spacing. Various experimental variogram types were used, and the normal-score transformed variograms showed the most coherent structure.

Nugget variances were moderate to high and were interpreted at 30% to 50% of the total sill. The major axis was interpreted to be aligned along strike dipping shallowly to the WNW (dip = 20°, dip direction = 290° azimuth), with the semi-major axis dipping steeply to the ESE (dip = 70°, dip direction = 110°). The major axis showed maximum ranges on the order of 60 m to 70 m, with semi-major ranges slightly less, on the order of 50 m to 60 m, although the variograms were difficult to interpret due to high variability in grades and lack of continuity.

Due to the amount of internal waste present inside the wireframes, and the difficulties obtaining interpretable variograms, ID<sup>3</sup> was selected as an interpolator, and the results of the variography were used to guide the dimensions of the search ellipses.

14.2.1.6 Block Modelling

The block model definition is presented in Table 14-21. The upper limit was defined by the surface topography. The parent block size was based primarily on drill hole spacing, envisaged selective mining unit (SMU), and geometry of the deposit. The block model was sub-blocked using the domain wireframes. A volume check of the block model versus the mineralization envelope revealed a good representation of the volume of the solid. Figure 14-21 shows a plan view of the Key Lake block model location.

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| 14-37 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 14-21: Key Lake Deposit Block Model Attributes

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| | | | |
|:---|:---|:---|:---|
| **Item** | **X** | **Y** | **Z** |
| Origin Coordinates (m) | 490150.00 | 5506500.00 | 600 |
| Block Extents (m) | 2800 | 915 | 800 |
| Number of Parent Blocks | 280 | 183 | 160 |
| Parent Block Size (m) | 10 | 5 | 5 |
| Sub-Block Size (m) | 2.5 | 1.25 | 1.25 |
| Rotation | Rotation | 17° clockwise | 17° clockwise |

---

#### Figure 14-21: Plan View of Key Lake Block Model, Wireframes, and Drill Traces
Source: Equinox 2026.

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| 14-38 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

14.2.1.7 Bulk Density Data

Bulk density data is stored in an Excel spreadsheet that contains bulk density readings by lithology and deposit. Greenstone Mine provided bulk density data to GMS for the estimation. In total, 66 measurements were taken using the Archimedes method of measuring the weight of the core sampling in water and in air. Table 14-22 presents the bulk-density data available for the Key Lake deposit.

#### Table 14-22: Statistical Summary of Bulk-Density Data for the Key Lake Deposit

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Deposit** | **Lithology** | **No. of<br> Measurements** | **Mean Density<br> (g/cm<sup>3</sup>)** | **SD Density<br> (g/cm<sup>3</sup>)** |
| Key Lake | Arkose | 11 | 2.77 | 0.09 |
| Key Lake | Greywacke | 50 | 2.74 | 0.09 |
| Key Lake | Iron Formation | 2 | 3.19 | 0.12 |
| Key Lake | Porphyry | 3 | 2.78 | 0.05 |

---

**Note:** SD = standard deviation.

The bulk density values were coded into the block model using the lithology model developed in Leapfrog GEO by GGM. Overburden was assumed to be 2.0 g/cm<sup>3</sup>.

14.2.1.8 Search Ellipsoids

Due to the undulating nature of the veins, dynamic anisotropy to locally adjust the search-ellipse orientations according to the local dip and dip direction of the vein wireframe was applied. A surface built using the midpoints of the vein was used as an input to determine the rotation angles of the search ellipse.

The search-ellipse configurations were defined using variography and drill spacing as a guide, combined with the geometry of the deposit. A three-pass estimation procedure was used for the interpolation. For all passes, the maximum number of samples per drill hole was set to control the number of drill holes in the interpolation.

&nbsp;&nbsp;&nbsp;&nbsp;· For Pass 1, between 7 and 16 samples, and a maximum of 3 samples per drill hole was applied. This ensured that a minimum of three drill holes was required to estimate blocks in the first pass.

&nbsp;&nbsp;&nbsp;&nbsp;· For Pass 2, between 4 and 16 samples, and a maximum of 3 samples per drill hole was applied. This ensured that a minimum of two drill holes was required to estimate blocks in the second pass.

&nbsp;&nbsp;&nbsp;&nbsp;· For Pass 3, between 1 and 16 samples, and a maximum of 3 samples per drill hole was applied. This ensured that a minimum of one drill hole was required to estimate blocks in the third pass.

In regard to sequencing, Pass 1 took precedence over Pass 2, and Pass 2 took precedence over Pass 3.

High-grade restraining for the blocks outside of the 12 modelled domains was applied, and only for the third estimation pass. Thresholds were chosen from probability plots. The search parameters adopted for grade interpolation are summarized in Table 14-23.

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| 14-39 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 14-23: Summary of Search Parameters — Key Lake Deposit

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| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Domain** | **Pass** | **X <br> (m)** | **Y <br> (m)** | **Z <br> (m)** | **Min. <br> Samples** | **Max. <br> Samples** | **Max. <br> Samples/DH** | **High-Grade Restraining** | **High-Grade Restraining** | **High-Grade Restraining** | **High-Grade Restraining** |
| **Domain** | **Pass** | **X <br> (m)** | **Y <br> (m)** | **Z <br> (m)** | **Min. <br> Samples** | **Max. <br> Samples** | **Max. <br> Samples/DH** | **X <br> (m)** | **Y <br> (m)** | **Z <br> (m)** | **Threshold <br> (g/t)** |
| KL-1 to KL-12 | 1 | 45 | 45 | 15 | 7 | 16 | 3 | None Applied | None Applied | None Applied | None Applied |
| KL-1 to KL-12 | 2 | 60 | 60 | 25 | 4 | 16 | 3 | None Applied | None Applied | None Applied | None Applied |
| KL-1 to KL-12 | 3 | 100 | 100 | 35 | 1 | 16 | 3 | None Applied | None Applied | None Applied | None Applied |
| Outside | 1 | 45 | 45 | 15 | 7 | 16 | 3 | None Applied | None Applied | None Applied | None Applied |
| Outside | 2 | 60 | 60 | 25 | 4 | 16 | 3 | None Applied | None Applied | None Applied | None Applied |
| Outside | 3 | 100 | 100 | 35 | 1 | 16 | 3 | 25 | 25 | 10 | 5 |

---

**Notes:** DH = drill hole.

14.2.1.9 Grade Interpolation

ID<sup>3</sup> was the preferred estimation method for the Key Lake deposit. Variograms showed poor structure and were difficult to interpret. In addition, the inclusion of significant internal dilution in the wireframes was unavoidable during modelling; therefore, there was a requirement to minimized grade smearing. Block grades are shown in Figure 14-22.

#### Figure 14-22: 3D View of Key Lake Gold Grade Distribution Looking North
![](fig14_22.jpg)

Source: Equinox 2026.

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| 14-40 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

14.2.1.10 Block Model Validation

The block model was validated by visual inspection in plan and section to ensure that block grade estimates reflect the grades seen in intersecting drill holes. In addition, global statistical comparisons were made comparing declustered composites and block grades (Table 14-24), and local validations such as swath plots were used to ensure grade smearing was minimized (Figure 14-23).

The comparison between the mean grades of declustered composites and blocks vary domain-by-domain, as expected, and mostly fall within the ±10% margin of error; the QP considers these results to be acceptable. The swath plots show good local accuracy of the gold estimate for the twelve domains.

#### Table 14-24: Global Statistical Comparison between Blocks and Declustered Composites for all Estimation Passes at Key Lake

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Domain** | **Composites** | **Composites** | **Composites** | **Blocks** | **Blocks** | **Difference Mean <br> (%)** |
| **Domain** | **No. of Comps.** | **Mean <br> (g/t)** | **Declustered Mean <br> (g/t)** | **No. Blocks** | **Mean <br> (g/t)** | **Difference Mean <br> (%)** |
| KL-1 | 85 | 1.58 | 1.71 | 202856 | 1.49 | -13 |
| KL-2 | 29 | 1.12 | 0.95 | 53984 | 0.93 | -2 |
| KL-3 | 46 | 1.14 | 1.45 | 12456 | 1.19 | -18 |
| KL-4 | 380 | 1.24 | 1.24 | 310443 | 1.17 | -6 |
| KL-5 | 594 | 1.00 | 1.02 | 210295 | 1.02 | 0 |
| KL-6 | 454 | 0.94 | 0.91 | 207606 | 0.90 | -2 |
| KL-7 | 90 | 1.24 | 1.33 | 40375 | 1.26 | -5 |
| KL-8 | 57 | 0.92 | 0.84 | 48224 | 0.96 | 14 |
| KL-9 | 17 | 2.02 | 2.51 | 4008 | 2.04 | -19 |
| KL-10 | 32 | 2.02 | 2.37 | 23870 | 2.27 | -4 |
| KL-11 | 36 | 0.84 | 0.74 | 22028 | 1.01 | 37 |
| KL-12 | 240 | 0.87 | 0.91 | 123825 | 0.91 | 0 |
| **All 12 Domains** | **2060** | **1.08** | **1.10** | **1259970** | **1.11** | **1** |

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| 14-41 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-23: Swath Plot Comparing Block Gold Grades (Blue) with Capped Composite Gold Grades (Red Dotted) for the 12 Domains Grouped Together, by Easting
![](fig14_23.jpg)

14.2.1.11 Determination of Mineral Resources

The resource block model was examined for open pit economic potential at various cut-off grades. To do this, the block model was analyzed using the pseudoflow algorithm within Deswik software to define a series of potentially economic open pit shells. All Indicated and Inferred blocks were considered during pit optimization. The parameters used during the pit optimization process are shown in Table 14-21, and the selected pit is shown in Figure 14-24. No underground Mineral Resources are declared for the Key Lake deposit.

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| 14-42 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-24: 3D View of the Key Lake Deposit Pit Optimization ($2,300 Pit Shell)
Source: Equinox 2026.

14.2.1.12 Underground Voids

There has been limited past production at the Key Lake deposit, which was formerly known as the Jellicoe Mine. An underground void model for the shaft and underground drifts was incorporated into the block model and assigned a density of zero. No stopes were modelled; production at the Jellicoe mine was very limited with production records indicating 14,722 tonnes were mined for 5,675 ounces of gold produced.

14.2.1.13 Resource Categorization

The Key Lake block model was classified based largely upon estimation pass and distance to nearest composites. The resource categories are shown in Figure 14-25. At this stage, there are no Measured Mineral Resources for the Key Lake deposit.

The Indicated Mineral Resource category was assigned to coherent portions of the deposit estimated in Pass 1 and Pass 2, with a distance to closest composite less than 35 m.

The Inferred Mineral Resource category was assigned to blocks estimated in Pass 1 and Pass 2, with a distance to closest composite greater than 35 m, and blocks estimated in Pass 3. In addition, all blocks in domains KL-1 and KL-2 were downgraded to Inferred due to a wider drill spacing, and all blocks outside of the 12 modelled domains and below 0 RL elevation were assigned to the Inferred category.

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| 14-43 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-25: 3D View of the Key Lake Deposit Mineral Resource Classification
![](fig14_25.jpg)

Source: Equinox 2026.

14.2.1.14 Mineral Resource Statement

The Mineral Resources are summarized in Table 14-26 at a lower cut-off grade of 0.18 g/t Au for the open pit category and within.an optimized pit shell based on a gold price of $2,300/oz Au that was generated based on applicable costs. The cut-off grades adopted offer the deposit reasonable prospects for eventual economic extraction using the cost assumptions summarized in Table 14-25.

#### Table 14-25: Economic Parameters used in the Open Pit Analysis for the Key Lake Deposit

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| | | |
|:---|:---|:---|
| **Parameter** | **Unit** | **Value** |
| Gold Price | $/oz | 2300 |
| Exchange Rate | USD/CAD | 1.00:1.33 |
| Royalty Rate | % | 3 |
| Mining Cost | $/t | 3.41 |
| Incremental Bench Cost | $/10m Bench | 0.03 |
| Processing Cost | $/t | 12.20 |
| Process Sustaining Capital Cost | $/t | 1.2 |
| Incremental Ore Haulage Cost | $/t | 3.47 |
| G&A Cost | $/t | 6.81 |
| Refining and Transportation Cost | $/oz <sub>rec.</sub> | 3.29 |
| Total Ore Based Cost | $/t | 29.33 |
| Cut-Off Grade | g/t Au | 0.18 |
| Average Metallurgical Recovery | % | 90 |
| Mining Dilution & Loss | % | 20 |

---

**Note:** G&A = general and administrative.

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| 14-44 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 14-26: Summary of the Key Lake Mineral Resource – Effective Date December 31, 2025

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Deposit** | **Cut-Off Category** | **Mineral Resource <br> Category** | **Tonnage<br> (kt)** | **Gold Grade <br> (g/t)** | **Contained Gold <br> (koz)** |
| Key Lake | Open Pit | Measured (M) | - | - | - |
| Key Lake | Open Pit | Indicated (I) | 7738 | 0.82 | 205 |
| Key Lake | Open Pit | **Subtotal M + I** | **7738** | **0.82** | **205** |
| Key Lake | Open Pit | Inferred | 4905 | 1.00 | 158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. No Mineral Reserves have been estimated for Key Lake.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Mineral Resources are reported at an open pit minimum recovered gold cut-off grade of 0.18 g/t and is constrained within a pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimization of the pit shell is based on a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, incremental ore haulage costs of $3.47/t, refining and transportation costs of $3.29/oz of Au recovered, and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. The average metallurgical recovery is 90% and a royalty rate of 3.0% are assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. No underground Mineral Resources are estimated.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Numbers may not add due to rounding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. No Mineral Reserves have been estimated for Key Lake.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Mineral Resources are reported at an open pit minimum recovered gold cut-off grade of 0.18 g/t and is constrained within a pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimization of the pit shell is based on a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, incremental ore haulage costs of $3.47/t, refining and transportation costs of $3.29/oz of Au recovered, and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. The average metallurgical recovery is 90% and a royalty rate of 3.0% are assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. No underground Mineral Resources are estimated.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Numbers may not add due to rounding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. No Mineral Reserves have been estimated for Key Lake.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Mineral Resources are reported at an open pit minimum recovered gold cut-off grade of 0.18 g/t and is constrained within a pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimization of the pit shell is based on a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, incremental ore haulage costs of $3.47/t, refining and transportation costs of $3.29/oz of Au recovered, and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. The average metallurgical recovery is 90% and a royalty rate of 3.0% are assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. No underground Mineral Resources are estimated.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Numbers may not add due to rounding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. No Mineral Reserves have been estimated for Key Lake.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Mineral Resources are reported at an open pit minimum recovered gold cut-off grade of 0.18 g/t and is constrained within a pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimization of the pit shell is based on a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, incremental ore haulage costs of $3.47/t, refining and transportation costs of $3.29/oz of Au recovered, and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. The average metallurgical recovery is 90% and a royalty rate of 3.0% are assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. No underground Mineral Resources are estimated.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Numbers may not add due to rounding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. No Mineral Reserves have been estimated for Key Lake.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Mineral Resources are reported at an open pit minimum recovered gold cut-off grade of 0.18 g/t and is constrained within a pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimization of the pit shell is based on a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, incremental ore haulage costs of $3.47/t, refining and transportation costs of $3.29/oz of Au recovered, and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. The average metallurgical recovery is 90% and a royalty rate of 3.0% are assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. No underground Mineral Resources are estimated.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Numbers may not add due to rounding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. No Mineral Reserves have been estimated for Key Lake.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Mineral Resources are reported at an open pit minimum recovered gold cut-off grade of 0.18 g/t and is constrained within a pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimization of the pit shell is based on a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, incremental ore haulage costs of $3.47/t, refining and transportation costs of $3.29/oz of Au recovered, and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. The average metallurgical recovery is 90% and a royalty rate of 3.0% are assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. No underground Mineral Resources are estimated.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Numbers may not add due to rounding |

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Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The QP is not aware of any known environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other relevant factors that could materially affect the Key Lake Mineral Resource estimates.

14.2.1.15 Qualified Person's Commentary

The Mineral Resource estimate for the Key Lake deposit is based on the same resource model as the 2020 Mineral Resource estimate, (Equinox, 2020) with no new drilling completed and geological and mineralization interpretations unchanged. Pit shells were rerun at a gold price of $2,300/oz to be consistent with optimization parameters used for the updated Greenstone Mine Mineral Resource estimate. The QP has reviewed and accepted the data, estimation methodologies, and parameters used for the 2020 Mineral Resource estimate as the basis for the current Mineral Resource estimate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.2.2 Kailey Deposit

The Kailey deposit is located 3 km northwest of the Greenstone Mine and was originally an underground mine named the Little Long Lac Mine.

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| 14-45 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

14.2.2.1 Drill Hole Database

The Kailey deposit has been tested by diamond drilling over a strike length of 800 m and down to a vertical depth of 500 m. The Kailey drill hole database includes 82 drill holes totalling 34,599 m, for which 27,892 m were assayed.

The drill holes are on an irregular grid spacing of around 50 m to 70 m, and at depth the spacing becomes 80 m to 100 m. Historical drilling data exists from digitized hard copies; however, no significant assays are available, and all the historical data are unverifiable.

14.2.2.2 Topography

As no detailed topography was available a topography using the drill collars was constructed and used to inform the block model. The area around the historical Little Long Lac Mine is generally flat.

14.2.2.3 Geological Modelling Approach

The Kailey deposit is hosted with a sedimentary sequence of greywacke and massive arkose units. Mineralization is constrained to steeply dipping, ENE-striking axial planes of an antiformal–synformal feature with fold noses steeply plunging to the WSW. The deposit shows both structural and lithological controls, with mineralization hosted predominantly within a massive arkosic unit. Only minor amounts of mineralization are found in the greywacke. High-grade gold mineralization occurs within three discrete, narrow, high-grade veins that were the target of past production activities. Wide, lower-grade Fe-carbonate and sericite alteration haloes centralized on the axial planes of the folds are also present. Mineralization is associated with fine sulphide disseminations that are difficult to observe in drill core.

The Kailey deposit has been modelled as three, wide (20 m to 30 m), continuous zones named Kailey, Main, and No. 9 (Figure 14-26). The zones are generally wide; therefore, no mining thickness was considered during modelling (Figure 14-27). An overburden surface was modelled from the lithology logging and varies between 5 m and 20 m thick above the deposit.

Only drilling completed by Premier was used during the interpretation and estimation. In addition, drill hole PLL08013 was excluded due to uncertainties surrounding the downhole surveys.

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| 14-46 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-26: 3D View of the Kailey Deposit Showing the Mineralization Domains (Looking Northwest)
Source: Equinox 2026.

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| 14-47 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-27: Typical Section at 503175 E Showing Mineralization Domains (Looking East)
![](fig14_27.jpg)

Source: Equinox 2026.

14.2.2.4 Assay Capping and Compositing

Grade capping levels were determined using probability plots of the various gold domains and applied to the assay intervals. Overall, roughly 5% of the metal was removed by capping. Length-weighted assay statistics and capping levels are shown in Table 14-27. An example of the probability plot for the KL-5 domain is shown in Figure 14-28.

#### Table 14-27: Length-Weighted Assays Statistics Showing Grade Capping Levels and Metal Loss Factors

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Domain** | **No. of <br> Assays** | **Max.<br> (g/t Au)** | **Uncut Mean<br> (g/t Au)** | **High-Grade <br> Capping <br> (g/t Au)** | **Cut Mean <br> (g/t Au)** | **No. Samples <br> Cut** | **% Samples <br> Capped** | **% <br> Loss Metal <br> Factor** |
| Kailey | 1080 | 72.5 | 1.03 | 10 | 0.97 | 2 | 0.2% | 5.8 |
| Main | 1275 | 143.2 | 0.98 | 15 | 0.89 | 3 | 0.2% | 9 |
| No. 9 | 1219 | 20.9 | 0.76 | 15 | 0.76 | 5 | 0.4% | 0.8 |
| Outside | 23929 | 211.4 | 0.13 | 15 | 0.12 | 9 | 0.0% | 4.8 |
| **Total** | **27503** |  |  |  |  |  |  | **5.2** |
| **Note:** % metal loss factors calculated from length multiplied by grade and does not consider the spatial location of the outliers. | **Note:** % metal loss factors calculated from length multiplied by grade and does not consider the spatial location of the outliers. | **Note:** % metal loss factors calculated from length multiplied by grade and does not consider the spatial location of the outliers. | **Note:** % metal loss factors calculated from length multiplied by grade and does not consider the spatial location of the outliers. | **Note:** % metal loss factors calculated from length multiplied by grade and does not consider the spatial location of the outliers. | **Note:** % metal loss factors calculated from length multiplied by grade and does not consider the spatial location of the outliers. | **Note:** % metal loss factors calculated from length multiplied by grade and does not consider the spatial location of the outliers. | **Note:** % metal loss factors calculated from length multiplied by grade and does not consider the spatial location of the outliers. | **Note:** % metal loss factors calculated from length multiplied by grade and does not consider the spatial location of the outliers. |

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| 14-48 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-28: Example of a Probability Plot for the Main Domain
![](fig14_28.jpg)

Core sampling was undertaken at 1.0 m and 1.5 m intervals and were broken down on visual lithological and alteration contacts. Considering the scale of the deposit and its suitability for open-pit mining, a 2 m compositing run-length split by domain was generated, with any residuals less than 0.5 m added to the last composite. A minimum coverage of 50% was required to create a composite. Missing intervals were replaced with a grade of 0.001 g/t Au. Breakthroughs into underground voids were omitted from the compositing.

Length-weighted composite statistics of drilling used in the estimation are shown in Table 14-28. The coefficients of variation are generally low for this deposit style.

#### Table 14-28: Length-Weighted 2 m Composite Statistics of Capped Gold Grades by Domain

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Domain** | **No. of 2 m <br> Comps.** | **Min.<br> (g/t Au)** | **Max. <br> (g/t Au)** | **Mean <br> (g/t Au)** | **Median <br> (g/t Au)** | **SD** | **Variance** | **CV** |
| Kailey | 541 | 0.001 | 6.18 | 0.96 | 0.79 | 0.85 | 0.72 | 0.88 |
| Main | 638 | 0.003 | 8.94 | 0.90 | 0.56 | 1.15 | 1.33 | 1.29 |
| No. 9 Vein | 540 | 0.003 | 9.78 | 0.76 | 0.51 | 1.00 | 0.99 | 1.30 |
| Outside | 9702 | 0.001 | 7.78 | 0.12 | 0.02 | 0.35 | 0.12 | 2.82 |
| **Notes:** CV = coefficient or variation; SD = standard deviation. | **Notes:** CV = coefficient or variation; SD = standard deviation. | **Notes:** CV = coefficient or variation; SD = standard deviation. | **Notes:** CV = coefficient or variation; SD = standard deviation. | **Notes:** CV = coefficient or variation; SD = standard deviation. | **Notes:** CV = coefficient or variation; SD = standard deviation. | **Notes:** CV = coefficient or variation; SD = standard deviation. | **Notes:** CV = coefficient or variation; SD = standard deviation. | **Notes:** CV = coefficient or variation; SD = standard deviation. |

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14.2.2.5 Variography

Experimental variograms were constructed for the Kailey, Main, and No. 9 domains using the capped gold composite intervals. Nugget sills were estimated from downhole variograms at a 2 m lag spacing. Pairwise variograms were interpreted as they showed the most coherent structure.

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| 14-49 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Variograms for all three domains were modelled and appear reasonable. Variograms for the composites outside of the three domains (the Outside domain) showed poor structure. Variogram parameters are shown in Table 14-29, and an example is shown in Figure 14-29.

#### Table 14-29: Variogram Parameters for the Kailey Deposit

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Zone** | **Axis** | **Nugget<br> (C0)** | **Sill 1<br> (C1)** | **Range 1<br> (R1) (m)** | **Sill 2<br> (C2)** | **Range 2<br> (R2) (m)** | **Dip** | **Dip<br> Azimuth** | **Pitch** |
| Kailey | Major | 0.15 | 0.25 | 20 | 0.2 | 80 | 85 | 170 | 90 |
| Kailey | Semi-major | 0.15 | 0.25 | 20 | 0.2 | 80 | 85 | 170 | 90 |
| Kailey | Minor | 0.15 | 0.25 | 5 | 0.2 | 10 | 85 | 170 | 90 |
| Main | Major | 0.25 | 0.17 | 30 | 0.2 | 90 | 90 | 162 | 117 |
| Main | Semi-major | 0.25 | 0.17 | 25 | 0.2 | 70 | 90 | 162 | 117 |
| Main | Minor | 0.25 | 0.17 | 5 | 0.2 | 10 | 90 | 162 | 117 |
| No. 9 | Major | 0.20 | 0.30 | 30 | 0.25 | 90 | 90 | 155 | 128 |
| No. 9 | Semi-major | 0.20 | 0.30 | 30 | 0.25 | 90 | 90 | 155 | 128 |
| No. 9 | Minor | 0.20 | 0.30 | 5 | 0.25 | 10 | 90 | 155 | 128 |

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#### Figure 14-29: Example Variogram for the Major Axis of the Kailey Domains
![](fig14_29.jpg)

14.2.2.6 Block Modelling

The block model definition is presented in Table 14-30. The upper limit was defined by the surface topography. The parent block size was based primarily on drill hole spacing, envisaged SMU, and geometry of the deposit. The block model was sub-blocked using the domain wireframes. A volume check of the block model versus the mineralization envelope revealed a good representation of the volume of the solid. Figure 14-30 shows a plan view of the Kailey block model location.

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| 14-50 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 14-30: Kailey Deposit Block Model Attributes

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| | | | |
|:---|:---|:---|:---|
| **Item** | **X** | **Y** | **Z** |
| Origin Coordinates (m) | 502675.00 | 5504450.00 | 385 |
| Block Extents (m) | 1200 | 890 | 690 |
| Number of Parent Blocks | 120 | 178 | 138 |
| Parent Block Size (m) | 10 | 5 | 5 |
| Sub-Block Size (m) | 2.5 | 1 | 1.25 |
| Rotation | Rotation | 18° counter-clockwise | 18° counter-clockwise |

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#### Figure 14-30: Plan View of Kailey Block Model, Wireframes, and Drill Traces
![](fig14_30.jpg)

Source: Equinox 2026.

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| 14-51 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

14.2.2.7 Bulk Density Data

Bulk density data were stored in a Microsoft Excel spreadsheet containing bulk density readings by lithology and deposit. In total, 91 measurements were taken using the Archimedes method of measuring the weight of the core sampling in water and in air. Table 14-31 presents the bulk density data available for the Kailey deposit.

#### Table 14-31: Statistical Summary of Bulk Density Data for the Kailey Deposit

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| | | | | |
|:---|:---|:---|:---|:---|
| **Deposit** | **Lithology** | **No. of <br> Measurements** | **Mean Density <br> (g/cm<sup>3</sup>)** | **SD Density <br> (g/cm<sup>3</sup>)** |
| Kailey | Arkose | 15 | 2.72 | 0.10 |
| Kailey | Greywacke | 55 | 2.75 | 0.13 |
| Kailey | Iron Formation | 4 | 3.46 | 0.31 |
| Kailey | Gabbro | 17 | 2.82 | 0.14 |

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**Note:** SD = standard deviation.

The bulk density values described above were coded into the block model using the lithology model developed in Leapfrog GEO by GGM. Overburden was assumed to be 2.0 g/cm<sup>3</sup>.

14.2.2.8 Search Ellipsoids

Dynamic anisotropy was used to locally adjust the search-ellipse orientations according to the local dip and dip direction of the vein wireframe. A surface was built using the midpoints of the vein and was used as an input to determine the rotation angles of the search ellipse.

The search-ellipse configurations were defined using variography and drill spacing as a guide, combined with the geometry of the deposit. A four-pass estimation procedure was used for the interpolation. For all passes, the maximum number of samples per drillhole was set to control the number of drillholes in the interpolation.

&nbsp;&nbsp;&nbsp;&nbsp;· For Pass 1, between 7 and 16 samples, and a maximum of 3 samples per drill hole was applied. This ensured that a minimum of 3 drill holes was required to estimate blocks in the first pass.

&nbsp;&nbsp;&nbsp;&nbsp;· For Pass 2, between 4 and 16 samples, and a maximum of 3 samples per drill hole was applied. This ensured that a minimum of 2 drill holes was required to estimate blocks in the second pass.

&nbsp;&nbsp;&nbsp;&nbsp;· For Pass 3, between 3 and 16 samples, and a maximum of 3 samples per was applied. This ensured that a minimum of 1 drill holes was required to estimate blocks in the third pass.

&nbsp;&nbsp;&nbsp;&nbsp;· For Pass 4, between 1 and 16 samples, and a maximum of 3 samples per drillhole was applied. This pass was designed to ensure all blocks were filled.

In regard to sequencing, Pass 1 took precedence over Pass 2, Pass 2 took precedence over Pass 3, and Pass 3 took precedence over Pass 4. No high-grade restraining was used at Kailey. The search parameters adopted for grade interpolation are summarized in Table 14-32.

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| 14-52 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 14-32: Summary of Search Parameters — Kailey Deposit

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| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Domain** | **Pass** | **X <br> (m)** | **Y <br> (m)** | **Z <br> (m)** | **Min. <br> Samples** | **Max. <br> Samples** | **Max. <br> Samples/DH** | **High-Grade Restraining** | **High-Grade Restraining** | **High-Grade Restraining** | **High-Grade Restraining** |
| **Domain** | **Pass** | **X <br> (m)** | **Y <br> (m)** | **Z <br> (m)** | **Min. <br> Samples** | **Max. <br> Samples** | **Max. <br> Samples/DH** | **X <br> (m)** | **Y<br> (m** | **Z<br> (m)** | **Threshold <br> (g/t)** |
| Main | 1 | 60 | 45 | 15 | 7 | 16 | 3 | None Applied | None Applied | None Applied | None Applied |
| Main | 2 | 80 | 60 | 25 | 4 | 16 | 3 | None Applied | None Applied | None Applied | None Applied |
| Main | 3 | 100 | 75 | 35 | 3 | 16 | 3 | None Applied | None Applied | None Applied | None Applied |
| Main | 4 | 150 | 150 | 50 | 1 | 16 | 3 | None Applied | None Applied | None Applied | None Applied |
| Kailey, No. 9, and Outside | 1 | 60 | 60 | 15 | 7 | 16 | 3 | None Applied | None Applied | None Applied | None Applied |
| Kailey, No. 9, and Outside | 2 | 80 | 80 | 25 | 4 | 16 | 3 | None Applied | None Applied | None Applied | None Applied |
| Kailey, No. 9, and Outside | 3 | 100 | 100 | 35 | 3 | 16 | 3 | None Applied | None Applied | None Applied | None Applied |
| Kailey, No. 9, and Outside | 4 | 150 | 150 | 50 | 1 | 16 | 3 | None Applied | None Applied | None Applied | None Applied |

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14.2.2.9 Grade Interpolation

OK was the preferred method of estimation for the Kailey, No. 9, and Main domains. Variograms showed good structure and were readily interpretable. All blocks outside of these three domains were estimated using ID<sup>2</sup>. Estimated blocks are shown in Figure 14-31.

#### Figure 14-31: Kailey Gold Grade Distribution (in g/t) in Resource Block Model, Looking North; Underground Development Shown in Grey
Source: Equinox 2026.

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| 14-53 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

14.2.2.10 Determination of Mineral Resources

The resource block model was examined for open pit economic potential at various cut-off grades. To do this, the block model was analyzed using Deswik software pseudoflow algorithm to define a series of potentially economic open pit shells. All Indicated and Inferred blocks were considered during pit optimization. The parameters used during the pit optimization process are similar to the Key Lake deposit and are shown in Table 14-21, and the selected pit shell is shown in Figure 14-32. No current underground Mineral Resources have been estimated for the Kailey deposit.

#### Figure 14-32: Section View of the Kailey Deposit Pit Optimization ($2,300 Pit Shell), Looking North
Source: Equinox 2026.

14.2.2.11 Underground Voids

There has been significant past production at the Kailey deposit, formerly known as the Little Long Lac Mine, which produced 1.78 Mt at an average grade of 10.6 g/t Au for 607 koz over an 18-year mine life. GGM supplied an underground void model for the shaft, underground drifts, and a 3D wireframe representing the mined main vein. These were incorporated into the block model and were assigned a density of zero.

The workings extend to a depth of 1,200 m; the mine operated between 1934 and 1952. Figure 14-33 shows the underground workings in relation to the three modelled domains.

14.2.2.12 Resource Categorization

The Kailey block model was classified based largely upon estimation pass and distance to nearest composites. The resource categories are shown in Figure 14-33. There are no Measured Mineral Resources for the Kailey deposit, with the relatively wide drill spacing being the limiting factor.

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| 14-54 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

The Indicated Mineral Resource category was assigned to coherent portions of the deposit estimated in Pass 1 and Pass 2, with a distance to closest composite less than 40 m.

The Inferred Mineral Resource category was assigned to blocks estimated in Pass 1 and Pass 2, with a distance-to-closest-composite greater than 40 m, and blocks estimated in Pass 3. In addition, all blocks outside the three principal domains and below the pit optimization were unclassified.

All blocks in Pass 4 were unclassified.

#### Figure 14-33: Section View of the Kailey Deposit Mineral Resource Classification, Looking North
Source: Equinox 2026.

14.2.2.13 Mineral Resource Statement

The Mineral Resources are summarized in Table 14-34 at a cut-off grade of 0.18 g/t Au for the open pit category within an optimized pit shell created using the cost and mining assumptions summarized in Table 14-33. The cut-off grades adopted offer the deposit reasonable prospects for eventual economic extraction-

#### Table 14-33: Economic Parameters used in the Open Pit Analysis for Kailey Deposit

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| | | |
|:---|:---|:---|
| **Parameter** | **Unit** | **Value** |
| Gold Price | $/oz | 2300 |
| Exchange Rate | USD/CAD | 1.00:1.33 |
| Royalty Rate | % | 3 |
| Mining Cost | $/t | 3.41 |
| Incremental Bench Cost | $/10m Bench | 0.03 |
| Processing Cost | $/t | 12.20 |
| Process Sustaining Capital Cost | $/t | 1.20 |
| Incremental Ore Haulage Cost | $/t | 1.31 |
| G&A Cost | $/t | 6.81 |
| Refining and Transportation Cost | $/oz <sub>rec.</sub> | 3.29 |
| Total Ore Based Cost | $/t | 27.17 |
| Cut-Off Grade | g/t Au | 0.18 |
| Average Metallurgical Recovery | % | 90 |
| Mining Dilution & Loss | % | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The calculated cut-off is around 0.15 g/t; however, GGM is using an elevated cut-off of 0.18 g/t, the same used for other satellite deposits. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The calculated cut-off is around 0.15 g/t; however, GGM is using an elevated cut-off of 0.18 g/t, the same used for other satellite deposits. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The calculated cut-off is around 0.15 g/t; however, GGM is using an elevated cut-off of 0.18 g/t, the same used for other satellite deposits. |

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| 14-55 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

The estimated Mineral Resources conform to the 2014 CIM Definition Standards for Mineral Resources and Mineral Reserves, as required by NI 43-101—Standards of Disclosure for Mineral Projects.

#### Table 14-34: Summary of Kailey Open Pit Mineral Resource – Effective Date December 31, 2025

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| | | | |
|:---|:---|:---|:---|
| **Mineral Resource <br> Category** | **Tonnage <br> (kt)** | **Gold Grade <br> (g/t)** | **Contained Gold <br> (koz)** |
| Measured (M) | - | - | - |
| Indicated (I) | 12038 | 0.60 | 231 |
| **Subtotal M + I** | **12038** | **0.60** | **231** |
| Inferred | 7758 | 0.55 | 138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource was adjusted to December 31, 2025<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. No Mineral Reserves are published at Kailey.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Mineral Resources are quoted at a minimum recovered gold cut-off grade of 0.18 g/t and is constrained within a pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pit shell are based on a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, incremental ore haulage costs of $1.31/t, refining and transportation costs of $3.29/oz of Au recovered, and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. The average metallurgical recovery is 90% and a royalty rate of 3.0% are assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. No underground Mineral Resources are quoted.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Numbers may not add due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource was adjusted to December 31, 2025<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. No Mineral Reserves are published at Kailey.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Mineral Resources are quoted at a minimum recovered gold cut-off grade of 0.18 g/t and is constrained within a pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pit shell are based on a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, incremental ore haulage costs of $1.31/t, refining and transportation costs of $3.29/oz of Au recovered, and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. The average metallurgical recovery is 90% and a royalty rate of 3.0% are assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. No underground Mineral Resources are quoted.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Numbers may not add due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource was adjusted to December 31, 2025<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. No Mineral Reserves are published at Kailey.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Mineral Resources are quoted at a minimum recovered gold cut-off grade of 0.18 g/t and is constrained within a pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pit shell are based on a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, incremental ore haulage costs of $1.31/t, refining and transportation costs of $3.29/oz of Au recovered, and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. The average metallurgical recovery is 90% and a royalty rate of 3.0% are assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. No underground Mineral Resources are quoted.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Numbers may not add due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource was adjusted to December 31, 2025<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. No Mineral Reserves are published at Kailey.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Mineral Resources are quoted at a minimum recovered gold cut-off grade of 0.18 g/t and is constrained within a pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The cut-off grade and pit shell are based on a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12.20/t, incremental ore haulage costs of $1.31/t, refining and transportation costs of $3.29/oz of Au recovered, and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. The average metallurgical recovery is 90% and a royalty rate of 3.0% are assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. No underground Mineral Resources are quoted.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Numbers may not add due to rounding. |

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Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The QP is not aware of any environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other relevant factors that could materially affect the Kailey Mineral Resource estimates.

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| 14-56 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

14.2.2.14 Qualified Person's Commentary

The current Mineral Resource estimate for the Kailey deposit is based on the same resource model as the 2020 Mineral Resource estimate, with no new drilling completed and geological and mineralization interpretations unchanged. Pit shells were rerun at a gold price of $2,300/oz to be consistent with optimization parameters used for the updated Greenstone Mine Mineral Resource estimate. The QP has reviewed and accepted the data, estimation methodologies, and parameters used for the 2020 Mineral Resource estimate as the basis for the current Mineral Resource estimate.

14.2.3 Brookbank Deposit

The Brookbank deposit is located approximately 77 km west of the Hardrock deposit and is a greenfield deposit that has not been subject to any mine development or production in the past. In addition to the Brookbank Main deposit, there are two smaller targets named Foxear and Cherbourg, which form part of the same mineralized system along strike.

14.2.3.1 Drill Hole Database

The Brookbank deposit (Main Zone) has been tested by diamond drilling over a strike length of 1,150 m and down to a vertical depth of 1,100 m. The Brookbank drill hole database includes 688 drill holes totalling 187,901 m, of which 592 drill holes and 152,750 m were drilled within the Brookbank, as well as the Foxear and Cherbourg targets.

The drill holes are on a grid varying from 25 m (close to surface) to 200 m at depth. The main components of the database are the collar, survey, assay, and lithology tables.

14.2.3.2 Topography

Greenstone Mine supplied a topography to GMS in the form of a wireframe with a spatial resolution of 10 m. The topography matched well with the drill hole collars, with no major discrepancies identified.

14.2.3.3 Geological Modelling Approach

The Brookbank deposit and the Cherbourg and Foxear targets (Figure 14-34) occur at three different localities within the 6.5 km long Brookbank shear zone. Gold mineralization occurs at or near the contacts between mafic volcanics and metasediments. The deposits have both structural and lithological controls; however, a second-order, subvertical plunge and continuity of mineralization is also apparent within the shear zone. Gold mineralization occurs within multiple quartz–carbonate stringers, veinlets, or stockworks that give rise to broad zones of mineralization varying in width from 1 m to 2 m at a depth of about 700 m to 20 to 50 m wide at or close to surface.

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| 14-57 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-34: Mineralization Domains of the Brookbank Deposits, Looking Northwest
Source: Equinox 2026.

The Brookbank Main deposit has been modelled as two discrete, continuous zones named the footwall (FW) and hanging wall (HW) veins (Figure 14-35). A minimum true width of 1.5 m and a 2 g/t Au lower cut-off was applied during modelling. In addition, the wider, altered shear zone has been modelled, alongside the footwall conglomerate and hanging wall metavolcanics lithologies. No overburden surface was modelled, as the overburden is generally thin across the deposit (<2 m thick).

The Noranda-era drilling (1940s, N-Series holes) were used in the interpretation, but excluded from the estimation as their collar locations could not be validated with sufficient confidence. In addition, numerous wedge holes have been drilled at Brookbank (often for metallurgical sampling), and those with no assays were excluded from the current resource estimation.

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| 14-58 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-35: Typical Section (Looking East, at 439775 E) Showing the Footwall, Hanging Wall, and Alteration Zone Domains
Source: Equinox 2026.

14.2.3.4 Assay Capping and Compositing

Grade capping levels were determined using probability plots of the various domains and applied to the assay intervals. Decile analysis was also undertaken as a check to ensure that no more than 10% of the metal is contained in the last percentile. Length-weighted assay statistics and capping levels are shown in Table 14-35. An example of the probability plot for the FW vein domain is shown in Figure 14-36.

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| 14-59 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 14-35: Length-Weighted Assays Statistics Showing Grade Capping Levels and Metal Loss Factors

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Domain** | **No. of <br> Assays** | **Max.<br> (g/t Au)** | **Uncut Mean<br> (g/t Au)** | **High-Grade <br> Capping** | **Cut Mean <br> (g/t Au)** | **No. Samples <br> Cut** | **% Samples <br> Capped** | **% Loss <br> Metal Factor** |
| FW | 1261 | 218.3 | 6.86 | 70 | 6.58 | 5 | 0.40 | 4.0 |
| HW | 563 | 141.7 | 4.04 | 40 | 3.77 | 5 | 0.89 | 6.5 |
| Alteration | 4426 | 67.9 | 0.36 | 10 | 0.34 | 9 | 0.20 | 4.7 |
| Conglomerate | 2690 | 42.8 | 0.16 | 10 | 0.14 | 9 | 0.33 | 6.9 |
| Metavolcanic | 15949 | 54.5 | 0.11 | 20 | 0.10 | 8 | 0.05 | 4.3 |
| Cherbourg Main | 122 | 32.6 | 3.54 | 20 | 3.14 | 3 | 2.46 | 11.2 |
| Cherbourg FW | 7 | 19.4 | 7.37 |  | 7.37 | 0 | 0.00 | 0.0 |
| Foxear | 104 | 13.6 | 2.65 |  | 2.65 | 0 | 0.00 | 0.0 |
| **Total** | **25122** |  |  |  |  |  |  | **4.7** |
| **Notes:** % metal loss factors calculated from length multiplied by grade and does not consider the spatial location of the outliers.<br>FW = footwall; HW = hanging wall. | **Notes:** % metal loss factors calculated from length multiplied by grade and does not consider the spatial location of the outliers.<br>FW = footwall; HW = hanging wall. | **Notes:** % metal loss factors calculated from length multiplied by grade and does not consider the spatial location of the outliers.<br>FW = footwall; HW = hanging wall. | **Notes:** % metal loss factors calculated from length multiplied by grade and does not consider the spatial location of the outliers.<br>FW = footwall; HW = hanging wall. | **Notes:** % metal loss factors calculated from length multiplied by grade and does not consider the spatial location of the outliers.<br>FW = footwall; HW = hanging wall. | **Notes:** % metal loss factors calculated from length multiplied by grade and does not consider the spatial location of the outliers.<br>FW = footwall; HW = hanging wall. | **Notes:** % metal loss factors calculated from length multiplied by grade and does not consider the spatial location of the outliers.<br>FW = footwall; HW = hanging wall. | **Notes:** % metal loss factors calculated from length multiplied by grade and does not consider the spatial location of the outliers.<br>FW = footwall; HW = hanging wall. | **Notes:** % metal loss factors calculated from length multiplied by grade and does not consider the spatial location of the outliers.<br>FW = footwall; HW = hanging wall. |

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| 14-60 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-36: Example of a Probability Plot for the FW Vein
![](fig14_36.jpg)

Core sampling was undertaken at 1.0 m intervals and were broken down on visual lithological and alteration contacts. Considering this, GMS has applied a 1 m compositing run-length split by domain, with any residuals less than 0.5 m added to the last composite. A minimum coverage of 50% was required to create a composite. Missing intervals were replaced with a grade of 0.001 g/t Au.

Length-weighted composite statistics of drilling used in the estimation are shown in Table 14-36.

#### Table 14-36: Length-Weighted Composite Statistics of Capped Gold Grades by Domain

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Domain** | **No. of<br> 1 m Comps.** | **Min.<br> (g/t Au)** | **Max. <br> (g/t Au)** | **Mean <br> (g/t Au)** | **Median <br> (g/t Au)** | **SD** | **Variance** | **CV** |
| FW | 1098 | 0.001 | 68.71 | 6.79 | 3.55 | 9.61 | 92.40 | 1.42 |
| HW | 538 | 0.001 | 40.00 | 3.83 | 2.06 | 5.32 | 28.28 | 1.39 |
| Alteration | 5133 | 0.001 | 9.60 | 0.30 | 0.07 | 0.67 | 0.45 | 2.22 |
| Conglomerate | 17427 | 0.001 | 9.30 | 0.02 | 0.00 | 0.24 | 0.06 | 9.69 |
| Metavolcanic | 133187 | 0.001 | 20.00 | 0.01 | 0.00 | 0.19 | 0.04 | 14.73 |
| Cherbourg Main | 102 | 0.001 | 20.00 | 2.81 | 1.06 | 4.32 | 18.66 | 1.54 |
| Cherbourg FW | 6 | 2.66 | 19.37 | 7.37 | 5.61 | 6.32 | 39.94 | 0.86 |
| Foxear | 97 | 0.001 | 13.63 | 2.43 | 2.19 | 2.16 | 4.65 | 0.89 |
| **Notes:**FW = footwall; HW = hanging wall; SD = standard deviation; CV = coefficient of variation. | **Notes:** FW = footwall; HW = hanging wall; SD = standard deviation; CV = coefficient of variation. | **Notes:** FW = footwall; HW = hanging wall; SD = standard deviation; CV = coefficient of variation. | **Notes:** FW = footwall; HW = hanging wall; SD = standard deviation; CV = coefficient of variation. | **Notes:** FW = footwall; HW = hanging wall; SD = standard deviation; CV = coefficient of variation. | **Notes:** FW = footwall; HW = hanging wall; SD = standard deviation; CV = coefficient of variation. | **Notes:** FW = footwall; HW = hanging wall; SD = standard deviation; CV = coefficient of variation. | **Notes:** FW = footwall; HW = hanging wall; SD = standard deviation; CV = coefficient of variation. | **Notes:** FW = footwall; HW = hanging wall; SD = standard deviation; CV = coefficient of variation. |

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| 14-61 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

14.2.3.5 Variography

Experimental variograms were constructed for the two principal veins (FW and HW) and for the alteration zones using the capped gold composite intervals. Nugget sills were estimated from downhole variograms at a 1 m lag spacing. Pairwise variograms were interpreted, as they showed the most coherent structure.

GMS was able to interpret variograms for the FW and HW veins, and the alteration zone. The conglomerate and metavolcanics domains did not yield reliable variograms, and there were insufficient data to model variograms for the Cherbourg and Foxear deposits. Variogram parameters are shown in Table 14-37.

#### Table 14-37: Variogram Parameters for the Brookbank Deposit

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Zone** | **Axis** | **Nugget<br> (C0)** | **Sill 1<br> (C1)** | **Range 1<br> (R1)** | **Sill 2<br> (C2)** | **Range 2<br> (R2)** | **Dip** | **Dip<br> Azimuth** | **Pitch** |
| FW | Major | 0.2 | 0.42 | 13 | 0.49 | 70 | 82 | 160 | 98 |
| FW | Semi-Major | 0.2 | 0.42 | 13 | 0.49 | 60 | 82 | 160 | 98 |
| FW | Minor | 0.2 | 0.42 | 4 | 0.49 | 8 | 82 | 160 | 98 |
| HW | Major | 0.3 | 0.42 | 7 | 0.4 | 40 | 82 | 160 | 98 |
| HW | Semi-Major | 0.3 | 0.42 | 7 | 0.4 | 40 | 82 | 160 | 98 |
| HW | Minor | 0.3 | 0.42 | 4 | 0.4 | 8 | 82 | 160 | 98 |
| Alteration | Major | 0.25 | 0.63 | 25 | 0.2 | 100 | 82 | 160 | 109 |
| Alteration | Semi-Major | 0.25 | 0.63 | 30 | 0.2 | 90 | 82 | 160 | 109 |
| Alteration | Minor | 0.25 | 0.63 | 4 | 0.2 | 8 | 82 | 160 | 109 |
| **Notes:**FW = footwall; HW = hanging wall. | **Notes:** FW = footwall; HW = hanging wall. | **Notes:** FW = footwall; HW = hanging wall. | **Notes:** FW = footwall; HW = hanging wall. | **Notes:** FW = footwall; HW = hanging wall. | **Notes:** FW = footwall; HW = hanging wall. | **Notes:** FW = footwall; HW = hanging wall. | **Notes:** FW = footwall; HW = hanging wall. | **Notes:** FW = footwall; HW = hanging wall. | **Notes:** FW = footwall; HW = hanging wall. |

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14.2.3.6 Block Modelling

The block model definition is presented in Table 14-38. The upper limit was defined by the surface topography. The parent block size was based primarily on drill hole spacing, envisaged selective mining unit, and geometry of the deposit. The block model was sub-blocked using the domain wireframes. A volume check of the block model versus the mineralization envelope revealed a good representation of the volume of the solid. Figure 14-37 shows a plan view of the Brookbank block model location.

#### Table 14-38: Brookbank Main Deposit Block Model Attributes

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| | | | |
|:---|:---|:---|:---|
| **Item** | **X** | **Y** | **Z** |
| Origin Coordinates (m) | 439160.00 | 5506730.00 | 450 |
| Block Extents (m) | 1480 | 678 | 1600 |
| Number of Parent Blocks | 148 | 226 | 160 |
| Parent Block Size (m) | 10 | 3 | 10 |
| Sub-Block Size (m) | 2.5 | 1 | 2.5 |
| Rotation | Rotation | 20° counter-clockwise | 20° counter-clockwise |

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| 14-62 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-37: Plan View of Brookbank Block Model, Wireframes, and Drill Traces
Source: Equinox 2026

14.2.3.7 Bulk Density Data

Bulk density data were supplied by GGM in the form of a Microsoft Excel spreadsheet containing bulk-density readings by lithology and deposit. In total, 196 measurements were taken using the Archimedes method of measuring the weight of the core sampling in water and in air. Table 14-39 presents the bulk density data available for the Brookbank deposit.

#### Table 14-39: Statistical Summary of Bulk Density Data for the Brookbank Deposit

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| | | | |
|:---|:---|:---|:---|
| **Lithology** | **No. of Meas.** | **Mean Bulk Density <br> (g/cm<sup>3</sup>)** | **SD Bulk Density <br> (g/cm<sup>3</sup>)** |
| Basalt | 18 | 2.83 | 0.086 |
| Conglomerate | 6 | 2.83 | 0.047 |
| Gabbro | 3 | 2.79 | 0.067 |
| Greywacke | 3 | 2.73 | 0.070 |
| Tuff | 3 | 2.78 | 0.038 |
| **Note:**SD = standard deviation. | **Note:** SD = standard deviation. | **Note:** SD = standard deviation. | **Note:** SD = standard deviation. |

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As the key lithologies at Brookbank are basalt and conglomerate, GMS applied a consistent bulk density of 2.83 g/cm<sup>3</sup> for all rock types. No significant overburden is present at Brookbank, and none is incorporated into the block model at this time.

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| 14-63 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

14.2.3.8 Search Ellipsoids and High-Grade Restraining

Due to the undulating nature of the veins, GMS decided to use dynamic anisotropy to locally adjust the search-ellipse orientations according to the local dip and dip direction of the vein wireframe. A surface was built using the midpoints of the vein and was used as an input to determine the rotation angles of the search ellipse.

The search-ellipse configurations were defined using variography and drill spacing as a guide, combined with the geometry of the deposit. A three-pass estimation procedure was used for the interpolation. For all passes, the maximum number of samples per drillhole was set to control the number of drillholes in the interpolation.

&nbsp;&nbsp;&nbsp;&nbsp;· For Pass 1, between 7 and 16 samples, and a maximum of 3 samples per drill hole was applied. This ensured that a minimum of 3 drill holes was required to estimate blocks in the first pass.

&nbsp;&nbsp;&nbsp;&nbsp;· For Pass 2, between 4 and 16 samples, and a maximum of 3 samples per drill hole was applied. This ensured that a minimum of 2 drill holes was required to estimate blocks in the second pass.

&nbsp;&nbsp;&nbsp;&nbsp;· For Pass 3, between 2 and 16 samples, and a maximum of 3 samples per drill hole was applied. This ensured that a minimum of 1 drill hole was required to estimate blocks in the third pass.

&nbsp;&nbsp;&nbsp;&nbsp;· Pass 1 took precedence over Pass 2, and Pass 2 took precedence over Pass 3.

In order to control the influence of isolated high-grade composites during grade estimation, GMS applied high-grade restraining (high-grade restraint or transition). This method involves applying a second, smaller internal search ellipse to restrict the influence of high-grade composites above a user-defined threshold. Thresholds were chosen from probability plots of the gold composites for each domain.

The search parameters adopted for grade interpolation are summarized in Table 14-40.

#### Table 14-40: Summary of Search Parameters—Brookbank Deposit

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| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Domain** | **Pass** | **X <br> (m)** | **Y <br> (m)** | **Z <br> (m)** | **Min. <br> Samples** | **Max. <br> Samples** | **Max. <br> Samples/DH** | **High-Grade Restraining** | **High-Grade Restraining** | **High-Grade Restraining** | **High-Grade Restraining** |
| **Domain** | **Pass** | **X <br> (m)** | **Y <br> (m)** | **Z <br> (m)** | **Min. <br> Samples** | **Max. <br> Samples** | **Max. <br> Samples/DH** | **X <br> (m)** | **Y <br> (m)** | **Z <br> (m)** | **Threshold <br> (g/t Au)** |
| FW | 1 | 60 | 45 | 15 | 7 | 16 | 3 | None Applied | None Applied | None Applied | None Applied |
| FW | 2 | 80 | 60 | 20 | 4 | 16 | 3 | 20 | 15 | 5 | 40 |
| FW | 3 | 100 | 75 | 30 | 2 | 16 | 3 | 20 | 15 | 5 | 20 |
| HW | 1 | 60 | 45 | 15 | 7 | 16 | 3 | None Applied | None Applied | None Applied | None Applied |
| HW | 2 | 80 | 60 | 20 | 4 | 16 | 3 | 20 | 15 | 5 | 20 |
| HW | 3 | 100 | 75 | 30 | 2 | 16 | 3 | 20 | 15 | 5 | 10 |
| Alteration | 1 | 60 | 45 | 15 | 7 | 16 | 3 | None Applied | None Applied | None Applied | None Applied |
| Alteration | 2 | 80 | 60 | 20 | 4 | 16 | 3 | 20 | 15 | 5 | 5 |
| Alteration | 3 | 100 | 75 | 30 | 2 | 16 | 3 | 20 | 15 | 5 | 5 |
| Conglomerate | 1 | 100 | 75 | 30 | 2 | 16 | 3 | 20 | 15 | 5 | 5 |
| Metavolcanics | 1 | 100 | 75 | 30 | 2 | 16 | 3 | 20 | 15 | 5 | 7.5 |
| **Notes:** DH = drill hole; FW = footwall; HW = hanging wall. | **Notes:** DH = drill hole; FW = footwall; HW = hanging wall. | **Notes:** DH = drill hole; FW = footwall; HW = hanging wall. | **Notes:** DH = drill hole; FW = footwall; HW = hanging wall. | **Notes:** DH = drill hole; FW = footwall; HW = hanging wall. | **Notes:** DH = drill hole; FW = footwall; HW = hanging wall. | **Notes:** DH = drill hole; FW = footwall; HW = hanging wall. | **Notes:** DH = drill hole; FW = footwall; HW = hanging wall. | **Notes:** DH = drill hole; FW = footwall; HW = hanging wall. | **Notes:** DH = drill hole; FW = footwall; HW = hanging wall. | **Notes:** DH = drill hole; FW = footwall; HW = hanging wall. | **Notes:** DH = drill hole; FW = footwall; HW = hanging wall. |

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| 14-64 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

14.2.3.9 Grade Interpolation

OK was the preferred method of estimating for the FW and alteration domains. Variograms in these domains showed clear structure, and grade smearing was controlled in later estimation passes by using high-grade restraining. Figure 14-38 presents the gold distribution of the FW domain.

ID<sup>2</sup> was used for the HW domain, and the conglomerate and metavolcanics domains. ID<sup>2</sup> is the preferred estimator in these domains due to the lack of interpretable variograms, and the observed reduced grade smearing when compared to OK.

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| 14-65 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-38: Brookbank Gold-Grade Distribution (in g/t), Looking North
![](fig14_38.jpg)

Source: Equinox 2026.

14.2.3.10 Block Model Validation

The block model was validated by visual inspection in plan and section to ensure that block-grade estimates reflect the grades seen in intersecting drill holes. In addition, global statistical comparisons were made comparing declustered composites and block grades (Table 14-41), and local validations such as swath plots were used to ensure grade smearing was reduced to a minimum (Figure 14-39).

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| 14-66 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 14-41: Global Statistical Comparison between Blocks and Declustered Composites for all Estimation Passes at Brookbank

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Domain** | **Composites** | **Composites** | **Composites** | **Blocks** | **Blocks** | **Difference Mean <br> (%)** |
| **Domain** | **No. Comps.** | **Mean <br> (g/t)** | **Mean Declustered<br> (g/t)** | **No. Blocks** | **Mean <br> (g/t)** | **Difference Mean <br> (%)** |
| FW | 1097 | 6.71 | 4.50 | 187477 | 4.74 | 5.3 |
| HW | 538 | 3.82 | 3.76 | 85765 | 3.52 | -6.4 |
| Alteration | 5133 | 0.30 | 0.32 | 670392 | 0.33 | 3.1 |

---

**Notes:** FW = footwall; HW = hanging wall.

#### Figure 14-39: Swath Plot Comparing Block Gold Grades (Blue) with Capped Composite Gold Grades (Red Dotted) for the FW Domain, by Easting
GMS found that the global mean grade was comparable to the declustered composites for each domain and fell within the ±10% acceptable range for this style of deposit. Swath plots showed good local reproduction of composite grades, with block grade slightly conservative within the central portion of the footwall domain. The conglomerate and metavolcanics domains were not validated as they will remain unclassified in the Mineral Resource estimate.

14.2.3.11 Determination of Mineral Resources (Open Pit Shell vs. Underground)—All Deposits

The resource block model was examined for open pit and underground economic potential at various cut-off grades. To do this, the block model was analyzed using the pseudoflow algorithm within Deswik software, to define a series of potentially economic open pit shells. All Indicated and Inferred blocks were considered during pit optimization.

In order to run the pseudoflow economic pit optimization, GGM adopted certain economic parameters, such as operating costs, commodity prices, and foreign exchange rates. The metallurgical recovery for Brookbank was derived from Blakely and Moreton (2009), a technical report completed by Scott Wilson RPA Inc, where test work indicated recoveries between 93.8% and 96.5% and GGM used a 92% recovery during pit optimization. For Kailey and Key Lake, no metallurgical data were available; therefore, a 90% metallurgical recovery was assumed. All other parameters were assumed from prior experience with the Hardrock deposit. In addition, GGM assumed that millfeed from these three deposits would be treated at the Hardrock plant; therefore, an incremental haulage charge was applied per kilometre. Table 14-42 and Table 14-43 show the various parameters and assumptions used in the open pit and underground analysis as well as the gold cut-off grades used for reporting the Mineral Resource estimate. The 2025 underground Mineral Resource was constrained by Deswik Stope Optimizer (DSO) shapes, optimized using the cut-off grade determined using these parameters.

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|:---|:---|
| 14-67 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 14-42: Economic Parameters used in the Open Pit Analysis

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| | | |
|:---|:---|:---|
| **Parameter** | **Unit** | **Value** |
| Gold Price | $/oz | 2300 |
| Exchange Rate | USD/CAD | 1.00:1.33 |
| Royalty Rate | % | 3 |
| Mining Cost | $/t | 3.41 |
| Incremental Bench Cost | $/10m Bench | 0.03 |
| Processing Cost | $/t | 12.20 |
| Process Sustaining Capital Cost | $/t | 1.2 |
| Incremental Ore Haulage Cost | $/t | 13.77 |
| G&A Cost | $/t | 6.81 |
| Refining and Transportation Cost | $/oz <sub>rec.</sub> | 3.29 |
| Total Ore Based Cost | $/t | 39.63 |
| Cut-Off Grade | g/t Au | 0.18 |
| Average Metallurgical Recovery | % | 92 |
| Mining Dilution & Loss | % | 20 |

---

**Note:** G&A = general and administrative.

#### Table 14-43: Economic Parameters used in the Underground Analysis

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Input Parameter** | &nbsp;&nbsp;**Unit** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;Gold Price | &nbsp;&nbsp;$/oz | &nbsp;&nbsp;2300 |
| &nbsp;&nbsp;Exchange Rate | &nbsp;&nbsp;USD/CAD | &nbsp;&nbsp;1.00:1.33 |
| &nbsp;&nbsp;Royalty Rate | &nbsp;&nbsp;% | &nbsp;&nbsp;3.0 |
| &nbsp;&nbsp;Mining Costs | &nbsp;&nbsp;$/t | &nbsp;&nbsp;65.0 |
| &nbsp;&nbsp;Refining and Transportation Cost | &nbsp;&nbsp;$/oz rec. | &nbsp;&nbsp;3.29 |
| &nbsp;&nbsp;Processing Costs | &nbsp;&nbsp;$/t | &nbsp;&nbsp;12.20 |
| &nbsp;&nbsp;Process Sustaining Capital Cost | &nbsp;&nbsp;$/t | &nbsp;&nbsp;1.2 |
| &nbsp;&nbsp;G&A Cost | &nbsp;&nbsp;$/t | &nbsp;&nbsp;6.81 |
| &nbsp;&nbsp;Incremental Ore Haulage Cost | &nbsp;&nbsp;$/t | &nbsp;&nbsp;13.77 |
| &nbsp;&nbsp;Cut-Off Grade | &nbsp;&nbsp;g/t Au | &nbsp;&nbsp;1.31 |
| &nbsp;&nbsp;Average Metallurgical Recovery | &nbsp;&nbsp;% | &nbsp;&nbsp;96.0 |

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| | |
|:---|:---|
| 14-68 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

After completing the pit optimization, the results were reimported back into Leapfrog where the block model was flagged for the material in the economic pit-shell and the material inside the optimized stopes was flagged as potential underground material. The resulting pit is shown in Figure 14-40.

14.2.3.12 Resource Categorization

GMS classified resource blocks in the block model based largely upon the drilling density and the passes criteria, while also accounting for variography results and deposit geometry. The Mineral Resource categories are shown on Figure 14-40. At this stage, there are no Measured Mineral Resources for the Brookbank property.

The Indicated Mineral Resource category was assigned to coherent portions of the deposit covered by 40 x 40 m drill spacing, and estimated predominantly in Pass 1, including islands of Pass 2 encompassed within. Good visual evidence of adequate sample and drill hole coverage was also considered.

The Inferred Mineral Resource category was assigned to areas outside of the 40 m x 40 m drill spacing, and blocks estimated predominantly in Passes 2 and 3. These areas have limited drillhole information and often include extrapolation of grades towards the boundaries of the wireframe.

The conglomerate and metavolcanics domains were not classified as Mineral Resources as they contained insignificant tonnage.

The Foxear and Cherbourg targets were deemed too small to meet the requirements for Reasonable Prospects for Eventual Economic Extraction; however, they do represent good near-term targets for expansion drilling.

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|:---|:---|
| 14-69 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 14-40: Section View of the Brookbank Mineral Resource Classification, Looking North
Source: Equinox 2026.

14.2.3.13 Mineral Resource Statement

The Mineral Resources are summarized in Table 14-44 at cut-off grades of 0.18 g/t Au for open pit resources and within optimized stope shapes with a cut-off of 1.31 g/t Au for underground resources. The cut-off grades developed using the assumptions summarized in Table 14-42 and Table 14-43 demonstrate that the deposit has reasonable prospects for eventual economic extraction.

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|:---|:---|
| 14-70 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

The estimated Mineral Resources have been classified using CIM (2014) definitions.

#### Table 14-44: Summary of the Brookbank Mineral Resource – Effective Date December 31, 2025

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Deposit** | **Category** | **Mineral Resource <br> Category** | **Tonnage <br> (kt)** | **Gold Grade <br> (g/t)** | **Contained Gold <br> (koz)** |
| Brookbank Property | Open Pit<br> (0.18 g/t Au Cut-off) | Measured (M) | - | - | - |
| Brookbank Property | Open Pit<br> (0.18 g/t Au Cut-off) | Indicated (I) | 7190 | 1.88 | 434 |
| Brookbank Property | Open Pit<br> (0.18 g/t Au Cut-off) | **Subtotal M + I** | **7190** | **1.88** | **434** |
| Brookbank Property | Open Pit<br> (0.18 g/t Au Cut-off) | Inferred | 152 | 0.69 | 3 |
| Brookbank Property | Underground (In Stope Optimized Shapes with a 1.31 g/t Au Cut-off) | Measured (M) | - | - | - |
| Brookbank Property | Underground (In Stope Optimized Shapes with a 1.31 g/t Au Cut-off) | Indicated (I) | 1856 | 4.67 | 279 |
| Brookbank Property | Underground (In Stope Optimized Shapes with a 1.31 g/t Au Cut-off) | **Subtotal M + I** | **1856** | **4.67** | **279** |
| Brookbank Property | Underground (In Stope Optimized Shapes with a 1.31 g/t Au Cut-off) | Inferred | 1339 | 2.55 | 110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource was adjusted to December 31, 2025<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. There are no Mineral Reserves at Brookbank.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources are reported at a minimum recovered gold cut-off grade of 0.18 g/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Open pit Mineral Resources are constrained within an optimized pit shell using a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12,20/t, incremental ore haulage costs of $13.77/t, refining and transportation costs of 3.29/oz of Au recovered, and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a cut-off grade of 1.31g/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of US$2,300/oz Au, average mining costs of $65.00/t, processing costs of $12.20/t, a cost of $13.77/t for incremental ore haulage and refining and transportation costs of $3.29/oz of Au recovered were used to determine the underground cut-off grade.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. An average metallurgical recovery of 92% for open pit mining, 96% for underground mining, and a royalty rate of 3.0% are assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Numbers may not add due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource was adjusted to December 31, 2025<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. There are no Mineral Reserves at Brookbank.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources are reported at a minimum recovered gold cut-off grade of 0.18 g/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Open pit Mineral Resources are constrained within an optimized pit shell using a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12,20/t, incremental ore haulage costs of $13.77/t, refining and transportation costs of 3.29/oz of Au recovered, and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a cut-off grade of 1.31g/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of US$2,300/oz Au, average mining costs of $65.00/t, processing costs of $12.20/t, a cost of $13.77/t for incremental ore haulage and refining and transportation costs of $3.29/oz of Au recovered were used to determine the underground cut-off grade.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. An average metallurgical recovery of 92% for open pit mining, 96% for underground mining, and a royalty rate of 3.0% are assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Numbers may not add due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource was adjusted to December 31, 2025<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. There are no Mineral Reserves at Brookbank.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources are reported at a minimum recovered gold cut-off grade of 0.18 g/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Open pit Mineral Resources are constrained within an optimized pit shell using a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12,20/t, incremental ore haulage costs of $13.77/t, refining and transportation costs of 3.29/oz of Au recovered, and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a cut-off grade of 1.31g/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of US$2,300/oz Au, average mining costs of $65.00/t, processing costs of $12.20/t, a cost of $13.77/t for incremental ore haulage and refining and transportation costs of $3.29/oz of Au recovered were used to determine the underground cut-off grade.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. An average metallurgical recovery of 92% for open pit mining, 96% for underground mining, and a royalty rate of 3.0% are assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Numbers may not add due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource was adjusted to December 31, 2025<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. There are no Mineral Reserves at Brookbank.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources are reported at a minimum recovered gold cut-off grade of 0.18 g/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Open pit Mineral Resources are constrained within an optimized pit shell using a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12,20/t, incremental ore haulage costs of $13.77/t, refining and transportation costs of 3.29/oz of Au recovered, and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a cut-off grade of 1.31g/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of US$2,300/oz Au, average mining costs of $65.00/t, processing costs of $12.20/t, a cost of $13.77/t for incremental ore haulage and refining and transportation costs of $3.29/oz of Au recovered were used to determine the underground cut-off grade.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. An average metallurgical recovery of 92% for open pit mining, 96% for underground mining, and a royalty rate of 3.0% are assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Numbers may not add due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource was adjusted to December 31, 2025<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. There are no Mineral Reserves at Brookbank.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources are reported at a minimum recovered gold cut-off grade of 0.18 g/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Open pit Mineral Resources are constrained within an optimized pit shell using a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12,20/t, incremental ore haulage costs of $13.77/t, refining and transportation costs of 3.29/oz of Au recovered, and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a cut-off grade of 1.31g/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of US$2,300/oz Au, average mining costs of $65.00/t, processing costs of $12.20/t, a cost of $13.77/t for incremental ore haulage and refining and transportation costs of $3.29/oz of Au recovered were used to determine the underground cut-off grade.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. An average metallurgical recovery of 92% for open pit mining, 96% for underground mining, and a royalty rate of 3.0% are assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Numbers may not add due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Resource estimate.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource was adjusted to December 31, 2025<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. There are no Mineral Reserves at Brookbank.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit Mineral Resources are reported at a minimum recovered gold cut-off grade of 0.18 g/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Open pit Mineral Resources are constrained within an optimized pit shell using a gold price of $2,300/oz, a USD:CAD exchange rate of 1.33, average mining costs of $3.41/t, processing costs of $12,20/t, incremental ore haulage costs of $13.77/t, refining and transportation costs of 3.29/oz of Au recovered, and G&A costs of $6.81/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within mineable stopes based on a conceptual mining method at a cut-off grade of 1.31g/t.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of US$2,300/oz Au, average mining costs of $65.00/t, processing costs of $12.20/t, a cost of $13.77/t for incremental ore haulage and refining and transportation costs of $3.29/oz of Au recovered were used to determine the underground cut-off grade.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. An average metallurgical recovery of 92% for open pit mining, 96% for underground mining, and a royalty rate of 3.0% are assumed.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Numbers may not add due to rounding. |

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Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The QP is not aware of any environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other relevant factors that could materially affect the Brookbank Mineral Resource estimates.

14.2.3.14 Qualified Person's Commentary

The Mineral Resource estimate for the Brookbank deposit is based on the same resource model as the 2020 Mineral Resource estimate, with no new drilling completed and geological and mineralization interpretations unchanged. Pit shells were rerun at a gold price of $2,300/oz to be consistent with optimization parameters used for the updated Greenstone Mine Mineral Resource estimate. The QP has reviewed and accepted the data, estimation methodologies, and parameters used for the 2020 Mineral Resource estimate as the basis for the current Mineral Resource estimate.

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|:---|:---|
| 14-71 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

15.0 Mineral Reserve Estimates

The Mineral Reserve estimates for the Greenstone open pit mine are estimated at 179.3 Mt at an average grade of 0.93 g/t Au for 5.3 Moz of contained gold, as summarized in Table 15-1.

The Mineral Reserves are based on Measured and Indicated Mineral Resources and do not include any Inferred Mineral Resources. The Inferred Mineral Resources contained within the mine design are classified as waste.

The Mineral Reserves include ex-pit ore fed directly to the plant and ore reclaimed from existing or future stockpiles.

#### Table 15-1: Greenstone Mine Mineral Reserve Statement – Effective Date December 31, 2025

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| | | | |
|:---|:---|:---|:---|
| **Category** | **Diluted Ore Tonnage <br> (Mt)** | **Gold Grade<br> (g/t)** | **Contained Gold<br> (000 oz)** |
| Proven | 6.9 | 0.75 | 164 |
| Probable | 172.5 | 0.93 | 5169 |
| **Total Proven and Probable** | **179.3** | **0.93** | **5334** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Reserve estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Reserves are estimated based on a mine plan using a minimum recovered gold cut-off grade of 0.20 g/t Au.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Mineral Reserves are estimated using a long-term gold price of $2,100/oz and a USD:CAD exchange rate of 1.33, average processing costs of $12.2/t of ore, G&A of $6.2/t of ore, and mining costs of $2.74/t mined.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Mining dilution is modelled by regularization and applying a 3% factor to the grades.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Reserves include 11 Mt at 0.51 g/t Au of previously stockpiled ore.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Numbers may not add due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Reserve estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Reserves are estimated based on a mine plan using a minimum recovered gold cut-off grade of 0.20 g/t Au.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Mineral Reserves are estimated using a long-term gold price of $2,100/oz and a USD:CAD exchange rate of 1.33, average processing costs of $12.2/t of ore, G&A of $6.2/t of ore, and mining costs of $2.74/t mined.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Mining dilution is modelled by regularization and applying a 3% factor to the grades.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Reserves include 11 Mt at 0.51 g/t Au of previously stockpiled ore.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Numbers may not add due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Reserve estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Reserves are estimated based on a mine plan using a minimum recovered gold cut-off grade of 0.20 g/t Au.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Mineral Reserves are estimated using a long-term gold price of $2,100/oz and a USD:CAD exchange rate of 1.33, average processing costs of $12.2/t of ore, G&A of $6.2/t of ore, and mining costs of $2.74/t mined.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Mining dilution is modelled by regularization and applying a 3% factor to the grades.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Reserves include 11 Mt at 0.51 g/t Au of previously stockpiled ore.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Numbers may not add due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. CIM (2014) definitions and 2019 CIM Best Practice Guidelines were followed for the Mineral Reserve estimate.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Metallurgical recovery is estimated using a multivariant regression equation to predict leach residue grade.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Reserves are estimated based on a mine plan using a minimum recovered gold cut-off grade of 0.20 g/t Au.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Mineral Reserves are estimated using a long-term gold price of $2,100/oz and a USD:CAD exchange rate of 1.33, average processing costs of $12.2/t of ore, G&A of $6.2/t of ore, and mining costs of $2.74/t mined.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Mining dilution is modelled by regularization and applying a 3% factor to the grades.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Reserves include 11 Mt at 0.51 g/t Au of previously stockpiled ore.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Numbers may not add due to rounding. |

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15.1 Mineral Resource Block Model

The Mineral Resource with block size of 5 m (X) by 5 m (Y) by 5 m (Z) with 1 m subcells was generated by Equinox with an effective date of December 31, 2025.

The block model consists of blocks with attributes for intact rock mass, overburden, organics, historical tailings, historical underground openings, and backfill. The historical underground openings have been modelled and depleted in the block model, with backfill densities assigned for stopes and underground development. Some historical tailings overlay the pit footprint and have been modelled to allow for their tracking and management in the mine plan.

15.2 Pit Optimization

Open pit optimization was conducted to determine the optimal economic shape of the open pit to guide the pit design process. This task was undertaken using Deswik software, which is based on the Pseudoflow algorithm. The method uses the profit of each block to define a pit outline that has the highest possible total economic value, subject to the required geotechnical pit slopes defined as structure arcs in the software.

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| 15-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

For the estimation of Mineral Reserves, only Measured and Indicated Mineral Resource blocks were considered for optimization purposes.

15.2.1 Mining Dilution and Ore Loss

A mining dilution and ore loss assessment was performed by regularizing the Mineral Resource sub-blocked model to 5 m x 5 m x 10 m (XYZ) to produce a mining model. The regularized block model was then compared against the mill reconciliation data for 10 months to ensure that the mining dilution and ore loss appropriately represented operational practices. A 3% adjustment was made to the gold grade to align the mining model more closely with the actual results from the processing plant, including material from stockpiles, and account for expected dilution reduction improvements.

The reconciliation of the mining model used for the Mineral Resource estimate against the plant adjusted with stockpiles over the January to October 2025 period is presented in Table 15-2.

#### Table 15-2: Reconciliation Mining Model versus Plant Actuals (January – October 2025)

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| | | | |
|:---|:---|:---|:---|
| | **Mining Block Model** | **Plant Adjusted with Stockpiles** | **Variance** |
| Tonnes (Mt) | 9.9 | 10.1 | -2% |
| Gold grade (g/t) | 0.89 | 0.86 | +4% |
| Ounces (koz) | 283 | 278 | +2% |

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15.2.2 Pit Optimization Parameters

A summary of the pit optimization parameters is presented in Table 15-3 for a milling rate of 27 kt/d based on a long-term gold price of $2,100/oz and a USD:CAD exchange rate of 1.33.

#### Table 15-3: Greenstone Pit Optimization Parameters

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| | | |
|:---|:---|:---|
| **Description** | **Unit** | **Value** |
| Nominal Milling Rate | t/d | 27000 |
| Plant Throughput | kt/a | 9855 |
| Exchange Rate | USD:CAD | 1.33 |
| Gold Price | $/oz | 2100 |
| Transport and Refining Cost | $/oz | 3.24 |
| Royalty and Simulated Other Agreements | % | 3.0 |
| Metallurgical Recovery Equation | % | Equation |
| Average Metallurgical Recovery | % | 86.4% |
| Processing Cost (fixed and variable) | $/t milled | 12.20 |
| Processing Cost (variable only) | $/t milled | 9.21 |
| G&A | $/t milled | 6.81 |
| Rehabilitation | $/t milled | 0.11 |
| Sustaining Capital | $/t milled | 5.61 |

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| 15-2 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

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| | | |
|:---|:---|:---|
| **Description** | **Unit** | **Value** |
| Reference Mining Cost (350 bench) | $/t mined | 2.37 |
| Incremental Bench Cost | $/10 m bench | 0.02 |
| Ore incremental mining cost | $/t milled | 0.68 |
| Rehandle costs | $/t milled | 0.58 |
| Average Overall Slope Angle in Fresh Rock | ° | 55 |
| Average Overall Slope Angle in Overburden | ° | 20 |
| Note: G&A = general and administrative. | Note: G&A = general and administrative. | Note: G&A = general and administrative. |

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The metallurgical recovery equation used for mine planning and cut-off grade determination are presented below:

For Arsenic <= 550 ppm:

Au tails = 0.030 + (0.0258 x Au) + (1.155 x As/10000) + (0.0473 x S)

For Arsenic > 550 ppm:

Au tails = 0.0889 + (0.0199 x Au) + (0.56 x As/10000) + (0.015 x S)

Metallurgical recovery = 1 – (Au tails / Au)

Au tails = gold tails grade in g/t

Au = diluted gold grade in g/t

S = diluted sulphur grade in %

As = diluted Arsenic grade in ppm

A physical hard boundary was imposed in the optimization process to prevent the pit from encroaching into the nearby lake and Highway 11 (Figure 15-1). The hard boundary models a 30 m buffer zone between the pit and the lake high water limit, a 300 m offset from major site infrastructure, and 500 m offset from the highway.

The overall slope angles utilized in Deswik are based on the inter-ramp angles recommended in Golder (2016), as presented in Section 16.0, with provisions for ramps and geotechnical berms. The overall slope angle in competent rock, including allowance for geotechnical benches, is approximately 61° based on a designed inter-ramp angle of 63.4°. The presence of ramps reduces (flattens) the overall slope angle further, ranging from 50° to 60°. The overall slope angle in overburden is 20°.

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| 15-3 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 15-1: Pit Limit Physical Boundary Constraint
Source: Equinox 2026.

Notes: PDA Project Development Area

15.2.3 Cut-Off Grades

The cut-off grade (COG) calculations are presented below. The COG used for the optimization parameters is calculated at 0.40 g/t gold recovered. The marginal COG used in mine planning and to estimate Mineral Reserves was derived at 0.20 g/t gold recovered.

Pit Optimization recovered gold COG (g/t)=(Cp+Ca+Cr+Com+Csibc)/((P-Cs))

Where:

P is the gold price in $/oz

Cs is the cost of selling gold (refining and royalties) in $/oz

Cp is the total processing costs (fixed and variable) in $/t processed

Ca is General and Administration (G&A) cost in $/t processed

Cr is the cost of rehandle in $/t processed

Com is the difference between ore and waste mining cost in $/t processed

Csibc is the sustaining capital in $/t treated over LOM

Marginal recovered gold COG(g/t)=(Cp+Ca+Cr)/((P-Cs))

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| 15-4 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Where:

P is the gold price in $/oz

Cs is the cost of selling gold (refining and royalties) in $/oz

Cp is the variable processing costs in $/t processed

Ca is General and Administration (G&A) cost x 30% in $/t processed

Cr is the cost of rehandling long term stockpiles in $/t processed

15.2.4 Open Pit Optimization Results

The Pseudoflow pit optimization results at a $2,100/oz gold price and various revenue factors (RF) are summarized in Table 15-4.

#### Table 15-4: Greenstone Mine Pit Optimization Results

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| | | | | |
|:---|:---|:---|:---|:---|
| **Revenue Factor** | **Total Ore** | **Total Ore** | **Total Ore** | **Waste** |
| **Revenue Factor** | **Tonnage<br> (Mt)** | **Gold Grade<br> (g/t)** | **Contained Gold<br> (Moz)** | **Tonnage<br> (Mt)** |
| RF 1 | 150 | 0.96 | 4.6 | 589 |
| RF 0.95 | 147 | 0.96 | 4.6 | 573 |
| RF 0.90 | 139 | 0.98 | 4.4 | 547 |
| RF 0.85 | 127 | 0.99 | 4.1 | 483 |
| RF 0.80 | 122 | 1.00 | 3.9 | 464 |
| RF 0.75 | 117 | 1.01 | 3.8 | 441 |
| RF 0.70 | 109 | 1.02 | 3.6 | 408 |

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The RF1 shell was selected for pit design.

15.3 Mine Design

15.3.1 Underground Voids

When designing the open pit, all attempts were made to avoid intersecting underground voids with the designed walls. A technical study will be conducted in 2026 to establish the most practical method for stabilizing the walls that intersect large voids from 2027.

Figure 15-2 illustrates the historical voids in relation to the ultimate pit design.

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| 15-5 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 15-2: 3D View Looking North of Final Open Pit (beige) with Historical Underground Voids (grey)
Source: Equinox 2026.

15.3.2 Ramp Design Criteria

The ramps and haul roads are designed for the largest equipment, which is a 250-tonne-class haul truck with a canopy width of 8.65 m, resulting in a double-lane ramp width of 35.0 m, and a single-lane ramp of 26.5 m. Single-lane ramps are introduced in the pit bottom when the benches start narrowing and when the mining rates will be significantly reduced. Ramp gradients are established at 10%.

15.3.3 Open Pit Mine Design Results

The final pit design is presented in Figure 15-3. The final pit is 2,300 m along strike, 1,000 m wide, and reaches a depth of 600 m from surface. The final pit design has two exits, one to the south and one to the west, to provide access to the pushbacks and to shorten haul distances to the crusher and waste dumps. The ramp system introduces switchbacks in several instances to avoid ramps passing through underground openings and to reduce the overall slope angle.

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| 15-6 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 15-3: Ultimate Pit Design
Source: Equinox 2026.

15.4 Factors Affecting Mineral Reserve Estimates

Several factors may influence the Mineral Reserve estimates, including the following:

&nbsp;&nbsp;&nbsp;&nbsp;· Long-term assumptions for commodity prices, exchange rates, and consumables prices

&nbsp;&nbsp;&nbsp;&nbsp;· Changes in Mineral Resource input parameters and their conversion to Mineral Reserves

&nbsp;&nbsp;&nbsp;&nbsp;· Grade control reconciliation

&nbsp;&nbsp;&nbsp;&nbsp;· Cut-off grade assumptions

&nbsp;&nbsp;&nbsp;&nbsp;· Geotechnical changes

&nbsp;&nbsp;&nbsp;&nbsp;· Metallurgical and mining recovery assumptions

&nbsp;&nbsp;&nbsp;&nbsp;· Control of unplanned dilution

&nbsp;&nbsp;&nbsp;&nbsp;· Mining method changes

&nbsp;&nbsp;&nbsp;&nbsp;· Interaction between underground voids and the open pit

&nbsp;&nbsp;&nbsp;&nbsp;· Changes to capital and operating cost estimates

&nbsp;&nbsp;&nbsp;&nbsp;· Access to site and retention of mineral and surface rights

&nbsp;&nbsp;&nbsp;&nbsp;· Ability to maintain environmental and regulatory permits, and social license to operate

15.5 Comments on Mineral Reserve Estimates

The Mineral Reserve is reported in accordance with the 2014 CIM Definition Standards. While current tailings and waste rock storage capacity is insufficient for the Mining Reserves, the QP considers that it is reasonable to expect the TSF and waste dump storage expansion permits to be approved in due course and the sustaining capital included in this Technical Report accounts for the expansion. There are no other known mining, metallurgical, infrastructure, permitting, or other relevant factors, beyond those discussed in this report, that would materially affect the estimation of Mineral Reserves.

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| 15-7 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

16.0 Mining Methods

The Greenstone Mine consists of a developing open pit that will mine through the historical underground workings of the MacLeod-Cockshutt and Hardrock Mines.

16.1 Mine Designs

16.1.1 Open Pit Phases

Mining of the pit will occur in five principal phases, as illustrated in Figure 16-1.

#### Figure 16-1: Mining Phases
Source : Equinox 2026

The physical metrics of each phase are summarized in Table 16-1. The objective of pit phasing is to improve the economics either by feeding the highest grade during the earlier years or delaying waste stripping until later years.

#### Table 16-1: Pit Phase Design Summary

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Unit** | **Phase 1A** | **Phase 1B** | **Phase 2** | **Phase 3** | **Phase 4** | **Phase 5** | **Total Pit** |
| Total Tonnage | Mt | 25 | 53 | 218 | 278 | 230 | 102 | 906 |
| Diluted Ore | Mt | 6 | 16 | 43 | 44 | 35 | 24 | 167 |
| Diluted Grade | g/t Au | 0.81 | 1.07 | 1.02 | 0.97 | 1.00 | 0.75 | 0.96 |
| Strip Ratio | wo | 2.9 | 2.2 | 4 | 5.3 | 5.6 | 3.2 | 4.4 |

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| 16-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

The phase designs use different geotechnical slope profiles for temporary pit walls. The temporary wall slope profile incorporates wider catch benches to allow for overbank hazard management on pit walls. Overbank hazard results from muck from one phase spilling down the slope of the previous pit phase and filling the catch benches, which can create a greater rockfall hazard for workers and equipment at the bottom of the previous pit phase. The temporary wall design allows the catch bench to be accessed to remove debris.

Mining in 2026 will concentrate on Phase 1A, 1B, and 2.

16.1.2 Mining Dilution

The mining dilution method used to convert the Resource model into a Reserve model is described in Section 15.0.

16.1.3 Pit Slope Geotechnical Assessment

The open pit will be developed in a rock mass rated "good" to "very good," where rock mass failure is not a concern. Historical underground longwall mining within the ultimate limit of the pit has demonstrated the high quality of the rock mass. The locations of the underground workings and whether they are backfilled or remain as open voids are well understood.

Pit slope stability is governed by structural controls, the most significant being foliation control on the bench-face angle and the potential control of flat joint-sets on the bench-crest back-break angles. No major faults have been identified that will adversely daylight through the final pit walls. While there are localized differences in the orientations of the discontinuity (joint set) populations, they do not justify distinctly different slope designs. Double benching will have to be done with vertical pre-split drilling (no sub-grade drilling_; well controlled blasting practices are required.

The final pit was designed using a double benching configuration to a final height of 20 m. The final pit slope profile is based on Golder (2016) recommendations, as summarized in Table 16-2. The slope profile is based on vertical batter angles with a 10 m catch bench width for an inter-ramp angle of 63.4°. A 16 m geotechnical berm is introduced every 100 m, if the slope is not otherwise intersected by ramp segments, to reduce the vertical height.

#### Table 16-2: Pit Wall Geotechnical Design Criteria

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| | | | |
|:---|:---|:---|:---|
| **Slope Parameters** | **Unit** | **Temporary Pit Walls with Overspill Management** | **Final Pit Walls** |
| Final Bench Height | m | 20.0 | 20.0 |
| Bench Face Angle | ° | 90 | 90 |
| Average Design Catch Bench Width | m | 15.5 | 10.0 |
| Inter-ramp Angle | ° | 52.2 | 63.4 |
| Overall Slope Angle<sup>1</sup> | ° | 52.2 | 60.8 |
| Geotechnical Benches | m | N/A<sup>2</sup> | 16.0<sup>3</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Overall slope angle calculation does not include ramps.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Specific geotechnical catch berms are not required on temporary walls with overspill management as every bench is widened.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Geotechnical catch berms will be 16.0 m at every 100 m for final walls. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Overall slope angle calculation does not include ramps.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Specific geotechnical catch berms are not required on temporary walls with overspill management as every bench is widened.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Geotechnical catch berms will be 16.0 m at every 100 m for final walls. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Overall slope angle calculation does not include ramps.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Specific geotechnical catch berms are not required on temporary walls with overspill management as every bench is widened.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Geotechnical catch berms will be 16.0 m at every 100 m for final walls. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Overall slope angle calculation does not include ramps.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Specific geotechnical catch berms are not required on temporary walls with overspill management as every bench is widened.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Geotechnical catch berms will be 16.0 m at every 100 m for final walls. |

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| 16-2 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

At the bedrock-overburden contact, the overburden slope is designed to 20°. The overburden slopes will comprise fluvial or glacial cohesionless or cohesive material of sufficient strength to maintain this slope angle. On the east side of the pit, the overburden thickness averages 15 m, with a maximum depth of 25 m. On the north side, the average depth is approximately 10 m, with a maximum of 30 m when including the historical MacLeod Mine tailings.

As Golder reported, the rock mass is assumed to have a very low permeability, and the rate of groundwater infilling of the historical underground workings is unknown. For slope-stability assessments, it has been assumed that the pit slopes will be partially saturated with draw-down cones similar to another open pit in the region.

16.1.4 Overburden and Waste Rock Storage

Waste rock will be disposed of in five distinct waste rock storage areas (WRSA or waste rock dumps), with four WRSAs (A, B, C and D) located outside of the pit and one in-pit dump accessible once Phase 5 is mined out. WRSA B will be repurposed and used for stockpiling low grade ore for periodic processing throughout the mine life. An expansion of WRSA D and a new waste rock dump (WRSA F) are currently being considered to provide additional storage capacity for the LOM, and both require additional permitting prior to use (refer to Section 20.2.2). An overburden stockpile is also located near the pit.

The open pit generates 739Mt of waste, which is primarily rock, and includes 2.3 Mt of historical tailings, 5 Mt of overburden, and 4 Mt of PAG material. Some waste rock is directed to the TMF for construction of the rockfill sections of the dam raises and the buttresses. The historical tailings are transported for disposal within the TMF.

The design criteria of each waste rock dump have been adjusted based on foundation stability assessments, which may include foundation preparation such as constructing shear keys to obtain the target downstream Factors of Safety for the presumed post-liquefaction condition. The waste rock dumps are typically built with 20 m high lifts to allow for wider catch benches to facilitate reclamation, and the lifts are sequentially built from the bottom up. Design criteria for the waste rock dumps are shown in Table 16-3. All waste dump storage capacities are shown in Table 16-4.

#### Table 16-3: Waste Rock Dump Design Criteria

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|:---|:---|:---|:---|:---|:---|
| **Waste Rock Storage Area (Dump)** | **Average Catch Bench Width (m)** | **Slope Angle (°)** | **Overall Slope Angle (H:V)** | **Maximum Elevation<br> (m)** | **Approximate Height<br> (m)** |
| A | 13.5 | 37 | 2:1 | 430 | 100 |
| C | 13.5 | 37 | 2:1 | 440 | 110 |
| D | 13.5 | 37 | 2:1 | 440 | 110 |
| F | 13.5 | 37 | 2:1 | 440 | 110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. H:V = horizontal to vertical.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Shear key excavations are being constructed in local areas to stabilize the dumps where ground conditions are unfavourable.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Expansion of WRSA D and the new WRSA F require permitting. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. H:V = horizontal to vertical.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Shear key excavations are being constructed in local areas to stabilize the dumps where ground conditions are unfavourable.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Expansion of WRSA D and the new WRSA F require permitting. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. H:V = horizontal to vertical.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Shear key excavations are being constructed in local areas to stabilize the dumps where ground conditions are unfavourable.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Expansion of WRSA D and the new WRSA F require permitting. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. H:V = horizontal to vertical.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Shear key excavations are being constructed in local areas to stabilize the dumps where ground conditions are unfavourable.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Expansion of WRSA D and the new WRSA F require permitting. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. H:V = horizontal to vertical.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Shear key excavations are being constructed in local areas to stabilize the dumps where ground conditions are unfavourable.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Expansion of WRSA D and the new WRSA F require permitting. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. H:V = horizontal to vertical.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Shear key excavations are being constructed in local areas to stabilize the dumps where ground conditions are unfavourable.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Expansion of WRSA D and the new WRSA F require permitting. |

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Shear key excavations are being constructed in local areas to stabilize the dumps where ground conditions are unfavourable.

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| 16-3 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 16-4: Waste Rock Dump and TMF Storage Requirements

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|:---|:---|:---|
| **Waste Rock Storage Area (Dump)** | **Total Storage Capacity<br> (Mt)** | **Remaining Storage Capacity<sup>1</sup> (Mt)** |
| A | 30 | 7 |
| C | 108 | 102 |
| D Phase 1 | 267 | 246 |
| D Expansion (Phase 2) | 153 | 153 |
| F | 254 | 254 |
| In-pit dump | 41 | 41 |
| TMF | 39 | 39 |
| **Total** | **916** | **842** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Remaining storage capacity as of December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Expansion of WRSA D and the new WRSA F require permitting. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Remaining storage capacity as of December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Expansion of WRSA D and the new WRSA F require permitting. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Remaining storage capacity as of December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Expansion of WRSA D and the new WRSA F require permitting. |

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16.1.5 Ore Stockpiles

Ore stockpiles are required to provide the plant with a controlled grade of gold and arsenic. Four finger stockpiles have been set up on the ROM to store up to 1Mt of ore as a combination of high/medium gold grade and high/low arsenic content material.

Approximately 75% of the material fed to the crusher is rehandled via the finger stockpiles. A dedicated rehandling fleet of five CAT 777 (90 t capacity) trucks and a CAT 995 wheel loader will be operational from Q1 2026, allowing the larger truck fleet to concentrate on ex-pit material movement.

Low grade ore will be stored temporarily on a low- and marginal-grade stockpile (Figure 16-2), which has a capacity of approximately 40 Mt, and will be reclaimed as required throughout the mine life.

#### Figure 16-2: 3D View of the Conceptual Ore Stockpiles

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| 16-4 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

16.2 Production Schedule

The LOM Mine production schedule is derived on a monthly basis for 2026, and on an annual basis for 2027 and beyond.

The objective of the LOM plan is to maximize discounted operating cash flow subject to several constraints:

&nbsp;&nbsp;&nbsp;&nbsp;· Supply best grade ore to the plant within arsenic limits (maximum of 1,000 ppm)

&nbsp;&nbsp;&nbsp;&nbsp;· Feed the plant to its capacity, ramping up from 7.8 Mt/a in 2025 to 9.4 Mt/a in 2026 and achieving name plate capacity 9.86 Mt/a from 2027.

&nbsp;&nbsp;&nbsp;&nbsp;· Limit the mining rate to approximately 77 Mt/a.

&nbsp;&nbsp;&nbsp;&nbsp;· Limit the vertical drop-down rate within the pit to a maximum of ten benches per phase, per year.

&nbsp;&nbsp;&nbsp;&nbsp;· Limit peak haul truck requirements.

&nbsp;&nbsp;&nbsp;&nbsp;· Use a grade segregation and stockpiling strategy with approximately a maximum of 30% direct feed to the crusher.

The peak mining rate of 77 Mt is achieved from 2026 and maintained for ten years until 2035. In 2036, the rate gradually declines as the plant is fed from a higher proportion of long term stockpiles. The annual LOM ex-pit mine production, stockpile inventory, mill production, and gold production are presented in Figure 16-3 to Figure 16-6.

#### Figure 16-3: Ex-pit material by Phase

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| 16-5 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 16-4: Annual Mill Feed Tonnage

#### Figure 16-5: Annual LOM Ore Stockpile Inventory

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| 16-6 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 16-6: Annual Recovered Gold Ounces and Diluted Head Grade
The mill production schedule is presented in Table 16-7. The milling rate will gradually increase in 2026 from 24,000 t/d to name plate capacity of 27,000 t/d and then be subsequently maintained at this rate for the LOM from 2027.

Annual gold production averages approximately 320 koz from 2026 until 2036, after which grades decline with a higher proportion of long term stockpile material being fed to the processing plant.

#### Table 16-5: LOM Production Schedule

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|:---|:---|:---|:---|:---|:---|:---|
| **Year** | **Ore Mined<br> (Mt)** | **Mined Grade<br> (g/t)** | **Waste Mined<br> (Mt)** | **Ore Processed<br> (Mt)** | **Head Grade<br> (g/t)** | **Recovered Ounces<br> (Moz)** |
| 2026 | 15 | 0.8 | 62 | 9.4 | 1.1 | 278 |
| 2027 | 10.6 | 1.1 | 66.4 | 9.9 | 1.1 | 300 |
| 2028 | 12.5 | 1 | 64.5 | 9.9 | 1.3 | 350 |
| 2029 | 14.3 | 1 | 62.7 | 9.9 | 1.3 | 350 |
| 2030 | 14.1 | 1 | 62.9 | 9.9 | 1.3 | 349 |
| 2031 | 12.2 | 0.9 | 64.8 | 9.9 | 1 | 286 |
| 2032 | 14.1 | 0.9 | 62.9 | 9.9 | 1.1 | 298 |
| 2033 | 8.9 | 0.8 | 68.1 | 9.9 | 0.8 | 218 |
| 2034 | 14.1 | 1.1 | 62.9 | 9.9 | 1.4 | 384 |
| 2035 | 13.1 | 1.1 | 63.9 | 9.9 | 1.3 | 368 |

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| 16-7 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Year** | **Ore Mined<br> (Mt)** | **Mined Grade<br> (g/t)** | **Waste Mined<br> (Mt)** | **Ore Processed<br> (Mt)** | **Head Grade<br> (g/t)** | **Recovered Ounces<br> (Moz)** |
| 2036 | 13.8 | 1 | 49 | 9.9 | 1.2 | 340 |
| 2037 | 11.3 | 0.9 | 26.9 | 9.9 | 1 | 266 |
| 2038 | 8.6 | 1.1 | 14.1 | 9.9 | 1 | 265 |
| 2039 | 4.4 | 0.9 | 7.8 | 9.9 | 0.6 | 170 |
| 2040 | 0 | 0 | 0 | 9.9 | 0.4 | 92 |
| 2041 | 0 | 0 | 0 | 9.9 | 0.4 | 92 |
| 2042 | 0 | 0 | 0 | 9.9 | 0.4 | 92 |
| 2043 | 0 | 0 | 0 | 9.9 | 0.4 | 92 |
| 2044 | 0 | 0 | 0 | 2.3 | 0.4 | 21 |

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16.3 Mine Operations and Equipment Selection

16.3.1 Mine Operations Approach

Mining is performed using conventional open pit methods using an GGM owned mining fleet. Certain support activities, such as explosives manufacturing and blasting activities, are outsourced.

16.3.2 Production Drilling and Blasting

Production drilling is single-pass drill and blast on a 10 m bench.

Several rock formations are present in the pit, including greywacke, gabbro, porphyry, and BIF. The average rock properties based on testing show a range in hardness between 80 MPa and 175 MPa, with a weighted average hardness estimated at about 100 MPa.

PV 235 Epiroc drills are used for production drilling. They are fitted with an automation package and can be controlled remotely through a remote operator station (up to three drills per remote station). During that time the operator can monitor the drilling process or switch to the other drills to either monitor, initiate a drilling cycle, or remotely tram the drill to the next hole location. The automation of the drilling process not only increases safety while drilling around voids, but it also increases productivity as some time-consuming activities usually performed by the operator are no longer required.

Down-the-hole D65 Epiroc drills also operate on site for production drilling, pre-shear drilling and probing of the underground cavities.

The drill and blast patterns used for production drilling are presented in Table 16-8.

#### Table 16-6: Drill and Blast Parameters

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| | | | |
|:---|:---|:---|:---|
| **Description** | **Unit** | **PV235** | **D65** |
| **Drill Pattern** | **Drill Pattern** | **Drill Pattern** | **Drill Pattern** |
| Explosive Type | - | Emulsion | Emulsion |
| Explosive Density | g/cm<sup>3</sup> | 1.2 | 1.2 |

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| 16-8 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

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| | | | |
|:---|:---|:---|:---|
| **Description** | **Unit** | **PV235** | **D65** |
| Hole Diameter | in | 9 | 8 |
| Burden | m | 4.9 | 4.5 |
| Spacing | m | 5.9 | 5.2 |
| Subdrill | m | 1 | 1 |
| Stemming | m | 4.2 | 4 |
| Bench Height | m | 10 | 10 |
| Blasthole Length | m | 11 | 11 |
| **Pattern Yield** | **Pattern Yield** | **Pattern Yield** | **Pattern Yield** |
| Rock Density | t/bcm | 2.75 | 2.75 |
| BCM/hole | bcm | 289 | 234 |
| Yield per Hole | t/hole | 795 | 644 |
| Yield per Metre Drilled | t/m drilled | 72 | 59 |
| Powder Factor | kg/t | 0.42 | 0.42 |
| Weight of Explosives per Hole | kg/hole | 335 | 272 |
| **Drill Productivity** | **Drill Productivity** | **Drill Productivity** | **Drill Productivity** |
| Re-drills | % | 8 | 8 |
| Pure Penetration Rate | m/h | 40 | 21 |
| Hole Length | m | 11 | 11 |
| Drilling Efficiency | holes/day | 43 | 30 |

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Blasting activities are outsourced to Dyno Nobel, an explosives provider that is responsible for supplying and delivering explosives down the hole. The Mine engineering department is responsible for designing blast patterns and relaying hole information to the drills via the wireless network or manually.

16.3.3 Grade Control

The ore control program consists of staking dig limits in the field for all material types to guide loading-unit operators. A high-precision system combined with an arm geometry system allows shovels to target small dig blocks and perform selective mining. The system gives operators a real-time view of dig blocks, ore boundaries, and other positioning information.

To have optimal ore–waste boundary identification, RC drilling targets 100% of all ore material, and also captures an average of 25% of the total waste in the pit. Concurrent with the RC sampling, production blastholes are used to supplement grade control. Currently, sampling targets 100% of all ore and 50% of all waste material.

The samples collected are sent to Greenstone's laboratory in Geraldton for sample preparation and assaying. All samples are collected on the bench and properly tagged by grade-control samplers on each shift.

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| 16-9 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

16.3.4 Pre-Split Drilling

Pre-split drill and blast will maximize stable bench faces and inter-ramp angles along pit walls as prescribed by Golder's (2016) geotechnical pit slope study. To protect wall integrity, production blasting is limited to a distance of 20 m from the unblasted pre-shear line. Following the initiation of the pre-split, a final trim shot is utilized to reach the design face. Pre-split holes are spaced 1.2 m apart and will be 20 m in length and drilled with a smaller diameter of 127 mm.

As presented in Table 16-7, blasting of the pre-split holes will use a special packaged pre-split explosive, and be internally traced with detonating cord that ensures fast and complete detonation of the decoupled charge. A designed load factor of 1.47 kg/m allows for a targeted charge weight of 0.83 kg/m<sup>2</sup> of face.

#### Table 16-7: Pre-Split Parameters

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| | | |
|:---|:---|:---|
| **Parameters** | **Unit** | **Pre-Split Holes** |
| **Drill Pattern** | **Drill Pattern** | **Drill Pattern** |
| Hole Diameter | inch | 5.5 |
| Spacing | m | 1.2 |
| Bench Height | m | 20 |
| Hole Length | m | 20 |
| Face Area | m2 | 24 |
| Explosives Charge | kg | 25 |
| Charge Factor | kg/m<sup>2</sup> face | 1.04 |
| **Drill Productivity** | **Drill Productivity** | **Drill Productivity** |
| Instantaneous Penetration Rate | m/h | 26 |
| Holes drilled per day | holes per day | 20 |

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16.3.5 Loading

Most of the loading in the pit is performed by five 29 m<sup>3</sup> Komatsu PC5500 face shovels. The hydraulic shovels are matched with a fleet of Caterpillar 793 mine haul trucks. The shovels are complemented by one production front-end wheel loader (FEL), a LT 1850, with a 27.5 m<sup>3</sup> bucket and one excavator CAT 6030 with a bucket size of 16.5 m<sup>3</sup>.

The loading productivity assumptions for all types of loading equipment are presented in Table 16-8. Derating production factors are applied to those production rates when mining around voids (40% derating).

#### Table 16-8: Loading Specifications

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Unit** | **Loading Unit** | **Loading Unit** | **Loading Unit** | **Loading Unit** |
| | **Unit** | **Shovel (29 m<sup>3</sup>) Ore/Waste** | **Shovel (29 m<sup>3</sup>) Overburden** | **Excavator (16.5 m<sup>3</sup>) Ore/Waste** | **Loader (27.5 m<sup>3</sup>) Ore/Waste** |
| **Material** | **Material** | **Material** | **Material** | **Material** | **Material** |
| Average Truck Payload | t | 236 | 236 | 236 | 236 |

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| 16-10 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Unit** | **Loading Unit** | **Loading Unit** | **Loading Unit** | **Loading Unit** |
| | **Unit** | **Shovel (29 m<sup>3</sup>) Ore/Waste** | **Shovel (29 m<sup>3</sup>) Overburden** | **Excavator (16.5 m<sup>3</sup>) Ore/Waste** | **Loader (27.5 m<sup>3</sup>) Ore/Waste** |
| **Material** | **Material** | **Material** | **Material** | **Material** | **Material** |
| Bucket Capacity | m<sup>3</sup> | 29.0 | 29.0 | 16.5 | 27.5 |
| Bucket Fill Factor | % | 85 | 85 | 85 | 85 |
| In Situ Dry Density | t/bcm | 2.75 | 2.00 | 2.75 | 2.75 |
| Swell | % | 40 | 25 | 40 | 40 |
| Passes Per Truck (rounded) | No. | 4 | 5 | 9 | 5 |
| Average Production (dry tonnes) per year | Mt | 16.4 | 16.4 | 7.4 | 20.1 |

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16.3.6 Hauling

Haulage is performed with a combination of 240-tonne (Caterpillar 793-08) and 232-tonne (Caterpillar 793F) mine haul trucks. Cycle times were estimated for each mining period and all possible destinations, including waste storage areas.

On production benches, a speed limitation of 30 km/h is imposed to reflect the lack of proper roads and less favourable rolling conditions. For all downhill ramps with an incline greater than 5%, the speed is limited to 23 km/h; otherwise, the maximum truck speed is constrained at 40 km/h.

Typically cycle time increases with the increase of the depth of the pit over the mine life and is also dependant on the dumping schedule and the distance each dump is from the pit. Multiple waste dumps were used to help level the truck requirements for the mine.

The truck fleet increases from 32 in 2026 to a maximum of 38 units in 2030 and starts decreasing from 2035 because of a decreasing mining rate (Figure 16-7).

16.3.7 Equipment Usage Assumptions

The typical equipment usage assumptions are established by equipment groupings as presented in Table 16-9. The annual net operating hours vary between 4,900 and 6,700.

#### Table 16-9: Mining Equipment Usage Assumptions

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Equipment** | **Unit** | **Shovels** | **Excavator** | **FEL** | **Trucks** | **Drills** | **Ancillary** |
| Length of Period | d | 365 | 365 | 365 | 365 | 365 | 365 |
| Availability | % | 85.0 | 85 | 75.0 | 85.0 | 85.0 | 85.0 |
| Use of Availability | % | 90.0 | 75 | 75.0 | 90.0 | 90.0 | 85.0 |
| Annual Operating Hours | Hrs | 6701 | 5585 | 4928 | 6701 | 6701 | 6329 |

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16.3.8 Pit Dewatering

The open pit dewatering strategy is to use the existing underground stopes and the connectivity of the past underground mines (Hardrock and Mosher) to keep the water level below the working benches in the pit. The existing Mosher shaft is used to dewater well below the active open pit mining area. Groundwater dewatering is performed using submerged electric pumps.

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| 16-11 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Surface water is pumped by mobile diesel pumps placed in sumps on the mining level. With the deepening of the pit, additional pumping capacity and HDPE pipes will be added to the dewatering system.

16.3.9 Road and Dump Maintenance

Waste, ore storage, and loading areas are maintained by a mixed fleet of Komatsu D375A-8 and CAT D10 track-type dozers, CAT 824 wheel dozers, and CAT 16 graders.

A water and sand truck sprays roads to suppress dust or spread road aggregate during winter months. Two CAT 785 are fitted with water-holding tanks to suppress dust and fill the production drills with water.

16.3.10 Support Equipment

All construction-related work, such as berm construction and water-ditch cleaning, is conducted by a fleet of 49 t excavators and one 95 t excavator for pit-wall scaling.

16.3.11 Mine Maintenance

The Mine's maintenance department manages and performs maintenance planning and training of employees. Reliance on dealer and manufacturer support is planned for the initial five years of operation, and support for major components exchange programs will be maintained throughout the LOM. Tire monitoring, rotation, or replacement is outsourced to a contractor who is permanently on site.

A computerized maintenance management system is used to manage maintenance and repair operations. This system will keep up-to-date status, service history, and maintenance needs of each machine, while being the source of data for key performance indicators (KPI) and cost-tracking purposes.

16.3.12 Mine Management and Technical Services

The Mine Manager is responsible for the overall management of the Mine. Superintendent positions in operations, a maintenance manager, and a technical services manager report directly to the Mine Manager.

The mine operations department is composed of two foremen per crew (eight in total); one for loading and hauling and another for drilling and blasting. To increase operator-level performance and organize structured training programs, one mine trainer is employed on day shift (under G&A).

The engineering and geology team provide support to the operations team by providing short-term and long-term planning, grade control, surveying, geotechnical engineering, and all other technical functions.

16.3.13 Roster Schedules

Rotating schedules of 7 days on / 7 days off and 14 days on / 14 days off are worked based on a twelve-hour shift per day. Four crews are required to operate on a continuous basis of 24 h/d and 365 d/a.

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| 16-12 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

16.4 Fleet Management

A fleet management system (Minestar) has been implemented to manage the operation, monitor machine health, and track KPIs. The system is managed by a dispatcher on each crew who controls the system that will send onscreen instructions to the operators to target peak production efficiency.

A high-precision GPS for machine guidance is used to mitigate the associated risk of working around historical underground workings. This system will enable shovel operators to navigate safely in potentially hazardous areas. Similar high-precision drill navigation systems are installed on the production drills and auxiliary drills to guide rigs into position, and assure holes are drilled to the correct depth and location.

16.5 Pit-Slope Monitoring and Voids Management

16.5.1 Pit-Slope Monitoring

Rock mass failure is not considered a high risk due to the high overall rock mass strength. However, slope movement monitoring will be installed in the open pit to gather measurements and confirm engineering assumptions to assure safe working conditions. Initial slope-movement monitoring will consist of using prisms read by manual or automated total stations. The initial prism monitoring will provide movement response data to verify visual observations, and that the slope is performing adequately.

Pit-wall mapping using routine digital techniques and physical geological mapping has also been implemented.

16.5.2 Voids Management

Underground void management is required to identify high-risk potential areas from historical underground stopes prior to mining. Each underground stope is probed, surveyed, and scanned if possible and a detailed assessment undertaken to determine the best operating practices for safe mining. The hazards related to these historical underground workings include:

&nbsp;&nbsp;&nbsp;&nbsp;· Sudden and unexpected collapse of the open pit floor or walls

&nbsp;&nbsp;&nbsp;&nbsp;· The loss of people or equipment into unfilled or partially filled underground workings

&nbsp;&nbsp;&nbsp;&nbsp;· Loss of explosives from charged blastholes that have filled cavities connected to the blasthole

&nbsp;&nbsp;&nbsp;&nbsp;· Overcharging blastholes where explosives have filled cavities connected to the blasthole

&nbsp;&nbsp;&nbsp;&nbsp;· Risk of flyrock from cavities close to the pit floor and adjacent blastholes.

The historical underground workings are well documented and are not a concern for the overall stability of the final pit walls. For the pit designs, as far as is practical, the ramps will be kept away from the known historical underground openings, and larger berms will be designed to create access points around the bigger underground openings at different heights.

16.6 Mining Equipment

The type and number of major mining equipment for each production year are presented in Figure 16-7.

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| 16-13 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 16-7: Primary Mine Equipment LOM Requirements

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| 16-14 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

17.0 Recovery Methods

17.1 Overview

The Greenstone process plant currently treats ore via a conventional gravity-cyanidation flowsheet and has a nameplate capacity of 27 kt/d. ROM ore is processed via primary and secondary crushing and HPGR-Ball mill comminution circuits followed by a gravity circuit. Gravity tailings area treated via a leach-carbon-in-pulp (CIP) circuit and associated gold recovery and carbon handling circuits to produce gold doré. CIP tailings are treated via a cyanide destruction process prior to storage in the tailings management facility (TMF).

Plant construction commenced in Q4 2021 and was substantially complete at the end of Q4 2023. Commissioning activities commenced in Q1 2024 and continued through Q3 2024. Ore was introduced into the system on April 6, 2024, and the first gold pour was achieved on May 22, 2024. Commercial production was achieved on November 6, 2024.

Process plant performance over the last two years is summarized in Table 17-1. Ore tonnage for 2024 represents plant ramp up to achieve commercial production. During 2025, the plant continued to ramp up to name plate and achieved a peak production of 24 kt/d. Forecast production is provided in Section 16.0.

#### Table 17-1: Process Plant Performance Summary (2024-2025)

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| | | | |
|:---|:---|:---|:---|
| **KPI** | **Unit** | **2024** | **2025** |
| Ore Milled | kt | 3687 | 7777 |
| Annual Average Feed Grade | g/t Au | 1.22 | 1.08 |
| Gold Recovery | % | 82.1 | 84 |
| Gold Produced | Koz | 112 | 224 |

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A simplified process flowsheet of the process plant is provided in Figure 17-1 The plant consists of the following unit operations:

&nbsp;&nbsp;&nbsp;&nbsp;· Primary and secondary crushing and associated material handling equipment

&nbsp;&nbsp;&nbsp;&nbsp;· Crushed ore stockpile and associated feed and reclaim systems

&nbsp;&nbsp;&nbsp;&nbsp;· Grinding circuit consisting of a HPGR and twin ball mills, cyclone classification and associated pumping and material handling systems to produce a nominal grind size of P<sub>80</sub> of 90 µm

&nbsp;&nbsp;&nbsp;&nbsp;· Gravity circuit with intensive leach reactor

&nbsp;&nbsp;&nbsp;&nbsp;· Pre-leach thickening

&nbsp;&nbsp;&nbsp;&nbsp;· Cyanide leaching and carbon adsorption via a leach-CIP circuit respectively.

&nbsp;&nbsp;&nbsp;&nbsp;· Carbon elution via Pressure Zadra circuit

&nbsp;&nbsp;&nbsp;&nbsp;· Carbon handling and regeneration

&nbsp;&nbsp;&nbsp;&nbsp;· Electrowinning and smelting to produce doré

&nbsp;&nbsp;&nbsp;&nbsp;· Cyanide destruction of CIP tailings using SO<sub>2</sub> / O<sub>2</sub> process

&nbsp;&nbsp;&nbsp;&nbsp;· Tailings pumping to the TMF

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| 17-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;· Reagent mix and storage circuits

&nbsp;&nbsp;&nbsp;&nbsp;· Air and oxygen circuits

&nbsp;&nbsp;&nbsp;&nbsp;· Water systems (potable water, treated water, gland seal water and process water)

#### Figure 17-1: Overall Flowsheet
Source: Equinox 2025.

17.2 Process Description

17.2.1 Primary and Secondary Crushing, Crushed Ore Storage, and Reclaim Circuits

ROM ore is hauled from the open pit mine and dumped directly into the primary crusher dump pocket or on the ROM pad. The ROM pad is primarily utilized for short-term or emergency storage and material blending as required by the mine plan. ROM material is reclaimed to the dump pocket by a front-end loader.

Ore from the primary crusher dump pocket feeds a 1.3 m x 1.8 m, 450 kW gyratory crusher and is crushed to a P<sub>80</sub> of 120 mm to 160 mm. A rock breaker breaks down any oversize material retained above the gyratory crusher. Crushed ore from the gyratory crusher discharges to the primary crusher surge bin. An apron feeder withdraws crushed ore and is conveyed to the double deck secondary crushing screen.

Oversize material from the screen is conveyed to the secondary crusher feed bin and then fed to a secondary MP1250 cone crusher where it is further crushed to a P<sub>80</sub> of 50 mm to 70mm. Crushed product is then conveyed to the secondary crushing screen. Screen undersize with a particle size of P<sub>80</sub> of 35 mm discharges onto the crushed ore stockpile feed conveyor that feeds the crushed ore stockpile.

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| 17-2 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

The crushed ore stockpile provides 16 hours of live storage and has a total capacity of 57 kt. There is a single stockpile-reclaim tunnel with three apron feeders in a reinforced-concrete tunnel underneath the stockpile. Crushed ore is reclaimed via the apron feeders and is conveyed to HPGR feed bin.

17.2.2 HPGR/Grinding and Gravity Recovery Circuit

The HPGR/grinding circuit crushes and grinds ore to a P<sub>80</sub> of 90 µm for optimal gold extraction in the leach circuit. The circuit consists of one HPGR followed by two parallel operating lines, each consisting of a wet screen, ball mill in closed circuit with cyclones, and a gravity concentrator. The gravity products from both the gravity concentrators are combined and treated in an intensive leach reactor.

Ore from the HPGR feed bin is reclaimed via a belt feeder and feeds the HPGR (2.2m x 2.0m). The HPGR is equipped with two 2,580 kW motors. HPGR product is conveyed to the wet screen surge bin with two discharge points for each of the operating lines. Per line, ore from the bin is fed to the wet screen via a belt feeder. Screen undersize of P<sub>80</sub> of 3.5 mm discharges to the ball mill pump box and screen oversize of P<sub>80</sub> of 25 mm is recycled back to the HPGR feed bin.

Each mill pump box is equipped with two slurry pumps: one pump feeding the ball mill cyclones and one feeding the gravity circuit.

Cyclone overflow from each circuit feeds a trash screen and cyclone underflow is directed to the ball mill feed chute. Lime is added to the ball mill feed to increase the slurry pH to between 10 and 11. The grinding mills are twin pinion ball mills equipped with motors totalling 10,500 kW per mill. Both mills are 6.7 m diameter (inside liners) with 12.2 m effective grinding length (EGL). The ball mills have discharge trommel screens to remove scats. The ball mill discharge flows into the ball mill pump box.

A liner-handler is used for the mill liner changes in either ball mill. Each mill has its own ball-kibble lifting frame and inching drive. Each ball kibble is loaded with 65 mm-diameter balls.

The gravity feed pump transfers a portion of the mill discharge to the gravity circuit. Each train consists of a gravity screen and a gravity concentrator. Gravity screen oversize is directed to the ball mill pump box and screen undersize is directed to the gravity concentrator.

The gravity concentrate from both gravity concentrators is transferred to the single intensive leach reactor (ILR). The gravity leach tailings are returned to the ball mill pump box while pregnant solution is fed to a dedicated electrowinning cell in the gold room.

17.2.3 Pre-Leach Thickening and Cyanidation

Cyclone overflow via the trash screens flow to a 50 m diameter pre-leach feed thickener to increase slurry density to 55% solids for the downstream cyanidation process. Flocculant is added to the thickener feed to promote the settling of solids. The underflow is pumped to the leach circuit and thickener overflow reports to the process water tank.

The leach circuit consists of one agitated pre-aeration tank and seven agitated leach tanks to provide 30 h residence time. All tanks are 18.6 m diameter x 23.5 m high.

Slurry transfers from one tank to the next by overflow through an upcomer and connecting launder. Slurry from the leach circuit then flows by gravity to the CIP circuit for carbon adsorption.

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| 17-3 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Sodium cyanide is added to the leach circuit to dissolve the gold and lime slurry is stage-added to maintain circuit alkalinity at a pH of 10 to 11, preventing the creation of hydrogen cyanide gas. Oxygen from the on-site oxygen plant is sparged into the leach tanks.

17.2.4 Carbon-in-Pulp

Leached slurry flows to a CIP pump cell plant consisting of seven 7 m diameter x 12 m high CIP tanks operating in a carousel arrangement. Each tank consists of a pumping inter-stage screen mechanism for retaining activated carbon. In the CIP carousel circuit, the feed and discharge points of each tank rotate to simulate the counter-current movement of carbon against the slurry. Carbon management is simplified, as each cell contains a discrete batch of carbon. As the slurry flows through the CIP circuit, gold cyanide complexes are adsorbed onto the activated carbon until precious metal values in the solution progressively decrease. The average carbon concentration in the CIP circuit is approximately 50 g/L to maximize adsorption, and each tank contains 18 tonnes of carbon.

Once per day, loaded carbon from a CIP tank is pumped to the loaded carbon screen where the slurry is separated and the loaded carbon transferred to the strip circuit. The slurry is then transferred back to the CIP circuit. Fresh activated carbon from the carbon regeneration circuit is pumped to the CIP circuit.

Tailings from the CIP circuit are pumped to a carbon safety screen to capture any residual fine carbon particles. Captured carbon is collected in bags and processed to recover any residual gold. The carbon safety screen undersize flows via gravity to the CIP tailings pump box and then pumped to the cyanide destruction circuit.

17.2.5 Cyanide Destruction and Final Tailings

The cyanide destruction circuit consists of two 1,600 m<sup>3</sup> mechanically agitated tanks, providing a total retention time of two hours. The conventional SO<sub>2</sub> / O<sub>2</sub> process is used for cyanide destruction. Treated slurry flows via gravity to the tailings pump box for pumping to the TMF.

The cyanide destruction circuit treats CIP tailings, process spills from various contained areas and process bleed streams.

Oxygen and sulphur dioxide is sparged into the cyanide destruction tanks. Lime slurry is added to maintain pH of 8.5 and copper sulphate is added as a catalyst. The process reduces CNWAD in solution to 30 mg/L.

Final tailings are pumped by two parallel pump-trains of two pumps installed in series (one train in operation and one train on standby) to the TMF.

17.2.6 Acid Wash and Elution

The acid wash and elution circuit (strip circuit) is a 12-tonne Pressure Zadra system and includes a 12-tonne loaded carbon storage transfer vessel before the circuit. The transfer vessel is provided to allow for partial batch transfers between the 18-tonne CIP tank and 12-tonne acid wash and elution columns.

At the acid wash column, loaded carbon is treated with hydrochloric acid to remove inorganic foulants such as calcium, magnesium, sodium salts, and silica. The carbon is first rinsed with fresh water and acid is pumped from the acid wash circulation tank to the acid wash column and then pumped upward through the acid wash vessel and overflow back to the acid wash circulation tank. The carbon is then rinsed with fresh water to remove the acid and any mineral impurities. Fresh acid is pumped from bulk acid holding tank into the acid wash tank when required.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

The acid washed carbon from the acid wash vessel is transferred to the elution vessel using recycled carbon transfer water. Carbon slurry discharges directly into the top of the elution vessel.

The carbon stripping (elution) cycle utilizes a barren solution to strip gold-rich carbon to create a pregnant solution. During the strip cycle, solution containing approximately 2.0% hydroxide and 0.2% sodium cyanide, at a temperature of 130°C and 450 kPa, is circulated through the strip vessel. Solution exiting the top of the elution vessel is cooled below its boiling point by the heat recovery heat exchanger. Heat from the outgoing solution is transferred to the incoming cold solution. The heated barren solution is heated by a natural gas burner to bring the solution to its final temperature.

The hot barren solution is then pumped into the elution column through the carbon bed and recirculated multiple times, creating a pregnant solution.

17.2.7 Carbon Regeneration

Once stripped of gold, transport water transfers the carbon from the elution vessel to the carbon dewatering screen. The screen acts as both a dewatering screen and a carbon sizing screen, where fine carbon particles will be removed. The water is reused as transfer water while the carbon fines are filtered using a filter press and collected into fine-carbon bags.

Oversize carbon from the screen discharges by gravity to the carbon regeneration kiln feed hopper. Screen undersize carbon, containing carbon fines and water, drains by gravity into the carbon fines tank. A 750 kg/h natural gas-fired kiln is used to treat 12 tonnes of carbon per day. The regeneration kiln discharges carbon to the carbon quench tanks by gravity, to be cooled by process water and stored in the transfer tanks prior to pumping back into the CIP circuit.

To compensate for carbon losses by attrition, fresh carbon is added to the carbon conditioning tank along with fresh water to mix and activate the carbon.

17.2.8 Electrowinning and Smelting

The pregnant solution generated from the elution column is pumped to four to six electrowinning cells from the elution storage tank. These cells will operate on a single-pass basis to produce a gold sludge. The barren solution will be collected in the elution storage tank.

The primary flow from the elution storage tank returns the solution to the elution circuit, where it will be reused as barren stripping solution for the elution column.

The pregnant solution generated by the intensive cyanidation unit in the gravity circuit is pumped to a separate pregnant solution tank and then pumped to a dedicated electrowinning cell. Pregnant solution is recirculated through the dedicated electrowinning cell until all gold is deposited onto the electrowinning cathodes.

The electrowinning cathodes are manually transferred from the electrowinning cells to the cathode washing tank, where a high-pressure washer is used to dislodge gold sludge from the cathode surface. The sludge is filtered by a filter press. The resulting filter cake is dried in a drying oven, and the resulting filtrate is recirculated to the sludge settling-tank and recirculated back to the sludge filter.

The dried filter cake is transferred manually into the natural gas barring furnace with flux materials, where it is batch smelted into gold doré bars and stored in a secure vault.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

17.3 Energy, Water and Process Material Requirements

17.3.1 Reagents

Reagents consumed within the process plant are prepared on site and distributed via various reagent handling and makeup systems.

17.3.1.1 Cyanide (NaCN)

Sodium cyanide is used as a gold lixiviant. The sodium cyanide is shipped in briquette form by road to site in 18 tonne ISO containers and stored in the cyanide mixing facility. Sodium cyanide is mixed with fresh water to form a cyanide solution for use in the Leach-CIP circuit.

17.3.1.2 Caustic (NaOH)

Sodium hydroxide (NaOH), also known as caustic soda, is used as a pH modifier and supplied in liquid form at 50% concentration and delivered by 20 tonne bulk tanker trucks. Caustic soda is used in the ILR, gold elution circuit, and cyanide mixing tank.

17.3.1.3 Quicklime (CaO)

Quicklime is used as a pH modifier and supplied in bulk and stored in a lime silo. Dry lime is fed to the slaker via a screw feeder and water is added to the slaker to produce hydrated lime slurry. The slaker discharges onto the vibrating grits-screen that removes oversize particles from the lime slurry. The slurry flows by gravity into a pump box where it is further diluted to produce 23% lime slurry. The lime slurry is pumped via a lime ring main to distribution points at the ball mill circuit, leach circuit and cyanide-destruction circuit.

17.3.1.4 Flocculant

Flocculant is a liquid polymer that is used in the pre-leach thickener to settle solids. It is supplied in bulk bags as a dry reagent. Flocculant is delivered by road to site, offloaded by forklift, and stored in the reagent storage area adjacent to the reagents mixing facility. Flocculant is diluted using fresh water and further diluted using an inline mixer with process water prior to being added at the thickener.

17.3.1.5 Hydrochloric Acid (HCl)

Hydrochloric acid (HCl) is used to remove inorganic carbonates from carbon in the acid wash process within the strip circuit. Hydrochloric acid is delivered by 22-tonne bulk tanker trucks as a 33% concentrated solution and stored in the hydrochloric acid storage tank and then pumped to the acid wash column.

17.3.1.6 Copper Sulphate (CuSO<sub>4</sub>·5H<sub>2</sub>O)

Copper sulphate pentahydrate (CuSO<sub>4</sub>.5H<sub>2</sub>O) is used as a catalyst for cyanide destruction. Copper sulphate is supplied in 1,250 kg bulk bags and stored in the reagent storage area. Copper sulphate is mixed with fresh water to form a copper sulphate solution and pumped to the cyanide destruction tanks.

17.3.1.7 Sulphur Dioxide (SO<sub>2</sub>)

Liquid sulphur dioxide is delivered by a 30-tonne bulk tanker-truck and stored in two 80 tonne-capacity pressure-vessel storage tanks equipped with a padding air system to maintain the sulphur dioxide in liquid form. Sulphur dioxide is metered to the cyanide destruction circuit in gas form. A vent system is included in the sulphur dioxide addition piping to vent any vaporized sulphur dioxide into the cyanide detoxification tanks.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

17.3.1.8 Antiscalant

Antiscalant is delivered in a liquid form in 1 m<sup>3</sup> ISO containers. The containers are directly fitted with pumping systems and pumped directly to water lines at the gravity concentrators, elution solution tank, process water tank, and treated water tanks.

17.3.2 Compressed Air

The compressed-air system is composed of three air compressors (two operating, one on standby). The compressed air is stored in two air-receivers with an air dryer between them. The system provides instrument air and compressed air to various equipment requiring compressed air (filters, vents, dust suppression systems, etc.).

17.3.3 Oxygen

Oxygen requirements for leaching and cyanide destruction are provided by an onsite vacuum-pressure swing-adsorption (VPSA) plant. Two liquid-oxygen tanks are also provided as a back-up source of oxygen.

17.3.4 Power

Power for the process plant is provided by onsite natural gas turbines as described in Section 18.0.

17.3.5 Water

The bulk of the water requirements for the process plant is provided by process water and consists of pre-leach thickener overflow and reclaim water from the TMF.

Treated water from the effluent water treatment plant is used in the strip circuit, ILR and refinery circuits, used as gland seal water, and for reagent dilution. Treated water is used for the grinding mill cooling systems and fire water.

Potable water is supplied from an onsite potable water treatment plant and used for safety showers and various users within the process plant and administration areas.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

18.0 Project Infrastructure

This section describes the infrastructure and service facilities required to support the Greenstone Mine mining and processing facilities, including tailings and water management; power generation; roads; camp; mine equipment maintenance shops (truck shop); warehouses; communication systems; laboratories and offices; diesel fuel, and the natural gas distribution pipeline. Figure 5-2 presents the site layout.

18.1 Tailings Management

WSP (and its predecessor companies WOOD and Golder Associates) perform specialized geotechnical and hydrologic engineering services for the design of the Tailings Management Facility (TMF), including geotechnical foundation investigation programs, design of the tailings dams and ancillary hydraulic structures, and tailings deposition planning. Since 2022, WSP has been responsible for the ongoing design and construction quality assurance (CQA) and Engineer of Record (EoR) services during the staged construction of the TMF.

Annual dam safety reviews have been performed by WSP's EoR in 2024 and 2025 after substantial completion of construction of each dam raise. Formal monthly dam inspections are conducted by GGM's Responsible Tailings Facility Engineer (RTFE). WSP's EoR and GGM's RTFE carried out an operational risk assessment specific to dam safety aspects in 2025. An Independent Tailings Review Board (ITRB) was formed in 2017 and has been involved on an annual basis to provide oversight during the lifecycle of the TMF; this is an on-going process. The purpose of the ITRB is to review and advise on the design, construction, operation, performance, and closure planning for the TMF. Recommendations from the ITRB have been incorporated into the design of the TMF.

Tailings impoundment is provided by the construction of interconnected dams with a final maximum height of 35 m and crest length of about 7,400 m. The dams are being constructed primarily using waste rock from mining operations. The upstream slope of the dams comprises a low permeability compacted glacial till core keyed into low permeability foundation soils. In places, a Deep Soil Mixing (DSM) seepage cutoff wall has been constructed to connect the core into the low permeability foundation soils. The till core, key trench, and DSM wall serve as a low permeability barrier to mitigate seepage through the dams and their foundations. A seepage collection system is provided at the downstream toes of the dams to collect any seepage for pumping back into the TMF reservoir. The TMF dams will be periodically raised using downstream construction methodology and the core, internal filter zones and rockfill sections of the dams will be extended with each expansion.

18.1.1 Geotechnical Subsurface Investigations

Environmental and hydrogeological baseline investigations were initially carried out in the TMF area by Stantec. Subsequently, WOOD carried out the subsurface characterization of the TMF dam footprint with geotechnical investigations from 2014 to 2019. The investigations also included searches for sand and gravel filter material and glacial till core material required for the initial and future dam construction stages. Several additional geotechnical investigations have been carried out by WSP since construction began to support construction activities and detailed design of future raises of the TMF dams.

The geotechnical investigations have included the excavation of numerous test pits and the drilling of numerous boreholes and performing cone penetration testing (CPT). Soil samples were collected from boreholes and test pits and were tested in a geotechnical laboratory. In situ hydraulic conductivity testing of foundation soils were also performed. Piezometers/monitoring wells were installed in the boreholes at various depths to facilitate groundwater monitoring and testing. The groundwater table was found to vary across the TMF area from near surface to about 3.5 m below ground surface. Bedrock encountered was generally good to excellent quality based on rock quality designation (RQD) measurements.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

The Quaternary stratigraphy at the TMF consists of five major stratigraphic units based on lithology, depositional environment, and relative stratigraphic position. In order from oldest to most recent these are: glacial till, glaciofluvial (sand and gravel), glaciolacustrine (predominantly silt with minor clay), deltaic (sands) and recent deposits (aeolian, organics, fluvial). Isolated pockets of sand and gravel (possibly an ablation glacial till) were also encountered below the glacial till in the Southwest Dam. A glaciolacustrine deposit of silt interbedded with thin clay layers (typically 1 mm to 10 mm in thickness) (referred to as 'GL Silt') was generally encountered underlying the upper sand deposits in the low-lying areas of the foundations at all dam sections, except at the North Dam.

18.1.2 Design Criteria

The TMF is currently designed to receive approximately 143.7 Mt of mill and historical tailings at an average dry density of 1.34 t/m<sup>3</sup>. A cyanide destruction system is used to process all tailings water before it is sent to the TMF. An allowance has been made within the TMF to store a portion of the historical MacLeod and Hardrock tailings and contaminated soils that are being relocated from the open pit area.

In accordance with the *Lakes and Rivers Improvement Act* (LRIA) Hazard Potential Classification (HPC), the TMF dams have been classified as having 'Very High' hazard potential. This classification is based on the potential environmental impacts in the event of a catastrophic failure.

Dam design criteria includes storage for the Environmental Design Flood (EDF) defined as a 100 year return hydrologic event (24-hour storm or 30 day spring freshet) with no discharge through a spillway. An emergency spillway will be installed in the future to safely pass the Inflow Design Flood (IDF) consisting of a routed Probable Maximum Flood (PMF) of 24-hour duration. The dams are designed for seismic events of 1:10,000 year (Maximum Credible Earthquake).

18.1.3 Dam Design

The cross-section design for the TMF dams consists of an inclined upstream low permeability glacial till core, with filter and transition layers downstream of the core, and a downstream rockfill shell. The filter and transition zones prevent the migration of core material into the downstream shell. A blanket filter was constructed between the foundation soils and the rockfill embankment to protect against potential "piping" of foundation soil fines into the rockfill due to seepage forces. A non-woven geotextile and riprap erosion protection were placed on the exposed upstream side of the core to protect it from surface water erosion due to waves or run-off until tailings beaches are established against the slope of the dams.

The TMF dams are constructed in stages, with annual dam raises in the downstream direction. Construction of the TMF starter dams was completed in 2023 and the first (Stage 1) dam raise was completed in 2024. Construction of the second (Stage 2) dam raise will be completed in 2026 to a crest elevation of 347 m, and the planned ultimate crest elevation will be 365 m.

The in situ testing and the advanced laboratory testing programs have indicated that portions of the GL Silt deposit are potentially liquefiable. For conservatism, post-liquefied stability analyses were carried out for all dam sections where the GL Silt was present. In the initial dam stage, this required the construction of upstream rockfill stability berms pending the establishment of upstream tailings beaches. For the starter dams and the Stage 1 and 2 dam raises, downstream rockfill stability berms were constructed within the ultimate dam footprint. For the Stage 2 and Stage 3 dam raises, ground improvement measures were and will be performed to obtain the target downstream Factors of Safety for the presumed post-liquefaction condition. The ground improvement measures include construction of shear keys (i.e., trenches excavated through the GL Silt to the underlying glacial till and/or bedrock and subsequently backfilled with mine rock) and DSM under the future downstream dam toes in the critical sections where the GL Silts layer is too deep to be excavated.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Figure 18-1 shows the general arrangement of the TMF for Stage 2.

#### Figure 18-1: Tailings Management Facility (October 2025)
Source: Equinox 2025.

An Operation, Maintenance and Surveillance (OMS) Manual following the guidelines of the Mining Association of Canada has been put in place for the TMF. An extensive system of geotechnical instrumentation has been installed to monitor the performance of the TMF dams, including vibrating wire piezometers to measure pore water pressure within the dams and foundations, inclinometers to measure dam deformations, and magnetic settlement systems to monitor settlement within the dams. These instruments are tied into a telemetry system that allows for remote monitoring alerts to be sent to key personnel based on pre-determined design thresholds.

18.1.4 Tailings Characteristics

Geochemical characterization of tailings completed during the environmental assessment indicated that a small amount of tailings are considered as PAG, but the tailings mass is predicted to be non-acid generating overall.

18.1.5 Tailings Deposition Plan

Tailings are deposited in the TMF from the dam crests via spigots and/or single point discharge as a conventional slurry to produce a wide exposed beach. This beach displaces the tailings pond away from the dams and towards natural ground along the western side of the TMF to enhance long term dam stability of the dams. A barge-mounted pump system, located on the western side of the TMF, reclaims water from the TMF pond and pumps it back to the processing plant.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Semi-annual bathymetric surveys are performed to measure the slopes of the tailings beaches and the volume of the supernatant pond, and to estimate the in situ tailings density. This data is compared to the tailings deposition plan, and the future dam raise construction is adjusted accordingly.

18.1.6 Historical Tailings

The Mine site includes the historical MacLeod high and low tailings and Hardrock tailings, which were deposited on land and into Kenogamisis Lake during historical mining activities in the 1930s through 1970s. Relocation of portions of these historical tailings from the open pit area to the TMF has been incorporated into the Mine design. The TMF has been sized to store the historical tailings, waste rock (for access road construction), and contaminated soil.

Relocation of historical MacLeod tailings commenced in January 2024 and is ongoing. Tailings removal is being completed using a combination of dozers and excavators and loading of Mine haul trucks for transportation and disposal into the northwest portion of the TMF. Prior to placement of these tailings in the TMF, waste rock is used, as needed, to construct access roads within the TMF to allow the haul trucks to ingress the designated areas for deposition. Once deposited, the historical tailings will be covered with new tailings in subsequent years of operations.

18.1.7 Storage Capacity

The TMF is currently designed to receive 143.7 Mt of mill and historical tailings. As of year-end 2025, a total of 11.5 Mt of mill tailings and 3.9 Mt of historical tailings have been deposited, with an additional 179.3 Mt of mill tailings and 2.3 Mt of historical tailings to be delivered to the TMF over the remaining LOM. The TMF is anticipated to be filled by 2038 and there will be a shortfall of approximately 53.3 Mt of tailings storage. To provide additional storage capacity, several concepts are currently being evaluated, such as expansion of the current TMF via additional dam raises, construction of a new TMF, and/or a cyclone tailings stockpile.

18.1.8 Water Management

The Greenstone mine site and TMF have a positive water balance. Reclaim water from the TMF is expected to supply the majority of the makeup water for the processing plant for most of the years of operation. The balance of the make-up water will be sourced from other ponds within the mine site area such as from the waste rock storage area ponds and the historical underground mine workings.

A water balance has been developed for the TMF and is coupled with the tailings deposition plan to inform the timing of TMF dam raises. The water balance and tailings deposition plan are intended to be updated through the operational life of the TMF based on operational and performance data.

The future TMF's emergency spillway invert levels will be established at the high-water level corresponding to the EDF event at all stages of operation to ensure sufficient storage capacity within the TMF to contain the EDF without any discharge to the environment. Presently, no emergency spillway has been installed in the TMF as there is excess freeboard available within the reservoir for storm storage. Once required, an emergency spillway will be constructed on the west abutment of the West Dam such that any emergency overflows will be directed towards the Goldfield Creek diversion head pond. After closure, once the quality of the pond water is acceptable to discharge, the spillway invert will be lowered and the TMF pond will discharge by gravity through the final spillway.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

18.1.9 Seepage Mitigation and Control

Seepage mitigation measures have been included in the initial TMF design and construction. At the Southwest Dam, a 1,320 m long contiguous DSM wall was constructed to penetrate through the surficial sand and silts and was keyed into the underlying, low permeability GL Silt deposit. A shorter 95 m long section of DSM wall was also constructed under part of the East Dam. At all other dam locations, a key trench was excavated to connect the low permeability dam till core into a low permeability soil formation (i.e., the glacial till or GL Silt) or directly onto a prepared bedrock surface. The key trench was subsequently backfilled with compacted, low permeability glacial till. For subsequent dam raises, the key trench methodology has been continued to tie into these original works and to provide a continuous seepage barrier to minimize seepage from the TMF.

A system of perimeter seepage collection ditches and ponds was constructed downstream of the TMF dams to capture foundation seepage and surface water runoff from the external dam slopes. These perimeter ditches drain to three seepage collection ponds, and any collected seepage in these ponds is pumped back into the TMF.

18.2 Goldfield Creek Diversion

Goldfield Creek (GFC), a small watercourse that previously drained through the TMF footprint and into Kenogamisis Lake, was rerouted into the Goldfield Creek diversion system for construction of the initial TMF. During the 2023 spring freshet, significant erosion of the lower portion of the realigned channel occurred, resulting in the transport and deposition of sediment downstream of the constructed channel. Subsequently, a bypass channel was constructed in 2024 to bypass flow around the eroded Goldfield Creek diversion while the realigned channel is redesigned and remediated. The bypass channel is currently regarded as a temporary feature to remain in active service until Goldfield Creek has been restored, vegetated, and considered stable to receive flow.

18.2.1 Design Criteria

The GFC diversion channel and bypass channel were designed to pass a minimum of the 500-year return hydrologic event. The Goldfield Creek diversion pond and diversion dyke were designed to convey the PMF event without overtopping. The diversion channel was also designed and constructed within a floodplain to carry the PMF from the diversion pond catchment area by flooding along the banks.

18.2.2 Diversion Dyke Design

The GFC diversion dyke has been designed and constructed in accordance with the LRIA and Canadian Dam Association (CDA) guidelines. The GFC diversion dyke was designed considering a "Very High" hazard potential, consequently, the dyke was designed and constructed for the most severe flood criteria, being the PMF.

The diversion dyke comprises a central core of glacial till with upstream and downstream shells of sand and gravel. An inclined chimney filter of sand is downstream of the core, and a blanket filter of sand covers the foundation soil downstream of the core. Erosion protection underlain by geotextile was applied to both the upstream and downstream faces. Due to difficulty with the foundation soil during construction, the dyke was built without a seepage cutoff wall, but a seepage reduction key trench was excavated beneath the core and backfilled with compacted glacial till that extends to a variable depth (typically at least 0.5 m) below the foundation. In areas where bedrock was encountered in the key trench, the bedrock was cleaned and slushed grouted; in areas where the foundation glacial till was shallow, the dyke was keyed into the till.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

As expected, clean water from the Goldfield Creek head pond seeps under the diversion dyke into the adjacent seepage collection pond, which is located between the diversion dyke and the TMF West Dam. Water within the pond is pumped into the TMF, and the pumping keeps the water level in the pond well below that in the Goldfield Creek diversion head pond, which precludes any contaminated seepage from the West Dam from entering the diversion system. Field pumping measurements have indicated that the volume of seepage under the diversion dyke is about 415 m<sup>3</sup>/d.

18.2.3 Closure Considerations

The Goldfield Creek diversion is a permanent realignment of the Goldfield Creek system, and as such will remain in place after mine closure. Once the water quality of the tailings pond is deemed suitable for discharge to the environment, runoff from the TMF will be directed through the TMF's overflow spillway and into the Goldfield Creek diversion head pond.

18.3 Water Management

18.3.1 Administrative Water Services

The mine site and camp draw water from a freshwater intake in the Southwest Arm of Kenogamisis Lake. Under the Provincial government's Ministry of the Environment, Conservation and Parks (MECP) permit to take water, the water is pumped to a small water treatment plant located within the process plant area to provide potable water and service water to the buildings.

The wash bay water at the truck shop is provided from the treated discharge of the effluent treatment plant. The wash bay is equipped with a filtering system to recirculate most of the water to the wash bay. Sludge is disposed through the process plant tailings management system.

18.3.2 Collection Ponds

Seepage collection ponds and ditching were constructed in key areas within the mine site to collect any seepage and runoff by gravity flow, with small perimeter berms to provide ample storage to contain runoff from storm events. The ponds are lined and seepage from the ponds is further inhibited through controlling the operating levels such that the pond level is maintained below the surrounding groundwater level, thus creating hydraulic containment. Pond M1, the central collection pond, receives pumped flows from the other six remote collection ponds and open pit.

Specific operating volume ranges (live storage) have been set for each pond according to the contributing catchment area. Storm reserve capacity is provided above the maximum operating water level in each pond to contain the runoff from a 100-year return EDF (24-hour duration) with no discharge to the environment. Each of the ponds has a pumping station with sufficient capacity required during normal operations and following storm events. summarizes the maximum operating volumes and EDF storage required in each pond, and the total storage capacity below the emergency spillway invert.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 18-1: Collection Ponds - Existing

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| **Aspect** | **Pond M1** | **Pond M1** | **Pond A2** | **Pond B1** | **Pond B2** | **Pond D1** | **Pond D2** |
| Catchment Area Description | Open Pit, WRSA-C | Open Pit, WRSA-C (south) | WRSA-A | Plant Site, Ore Stockpile | WRSA-B | WRSA-D (north) (Phase 1) | WRSA-D (south) (Phase 2) |
| Catchment Area Size (ha) | 81.9 | 107.8 | 61.5 | 51.1 | 31.2 | 134.1 | 82.3 |
| Maximum Operating Volume (m<sup>3</sup>) | 50000 | 43000 | 8500 | 19000 | 8000 | 19000 | 12000 |
| EDF Runoff Volume (m<sup>3</sup>) | 4000 | 103000 | 34000 | 37000 | 15000 | 128000 | 79000 |
| Volume at Emergency Spillway Invert (m<sup>3</sup>) | 54000 | 146000 | 42500 | 56000 | 23000 | 147000 | 91000 |

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The detailed design of WRSA-C's seepage collection system is underway and will require permitting. The design of the seepage collection systems for WRSA-D's southern (Phase 2) expansion and for the future WRSA-F is anticipated to commence in 2026.

The pond berms have been assigned "significant" Hazard Potential values based on the potential environmental impacts in the event of a failure. Emergency spillways have been designed to safely pass the peak flow from a 1,000-year return 24-hour storm.

18.3.3 Effluent Treatment Plant

The effluent treatment plant provides treatment of contact water from waste rock, ore, and overburden stockpiles, as well as from the historical underground workings and the open pit dewatering. The treatment reduces contaminants from the influent flow, such as total suspended solids (TSS) and metals. The plant is designed to manage a minimum treatment flow of 1,900,800 L/d (22 L/s), typical flow of 12,182,400 L/d (141 L/s), and a maximum flow of 19,008,000 L/d (220 L/s), at influent TSS levels between 200 mg/L to 2,000 mg/L and at dissolved arsenic raw water quality of up to 0.115 mg/L. The effluent treatment plant can be operated at a maximum flow rate of 19,008,000 L/d (220 L/s).

The effluent treatment plant has three steps in the water treatment train: TSS and metal removal, final filtration and neutralization, and potential future ammonia treatment. If ammonia concentrations are found through monitoring to exceed permit triggers, then a moving bed biofilm reactor or equivalent technology can be added to the treatment train upstream of the Actiflo clarifier. Ammonia is primarily from blasting residuals. Sulphate is also currently being monitored and evaluated to determine whether future treatment may be required for this parameter. Sulphate is associated with the historical workings and tailings at the site.

Sludge collected from metal and arsenic removal is sent to a geotextile sock for dewatering. The geotextile socks will be deposited in the TMF.

18.4 Waste Rock Storage and Ore Stockpiles

Waste rock storage and ore stockpiles are described in Section 16.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

18.5 Power Supply and Distribution

An onsite natural gas-fueled power plant generates both heat and power for the Mine. The designed capacity of the plant is 48 MW, and the average demand is 35.2 MW, for an operating load of 73% to 80%. Heat recovery is estimated at 5 MW thermal and is used for heating buildings.

The power plant has a total of seven 9.6 MW generators having an output voltage of 13.8 kV at 60 Hz. Five generators provide enough power to meet peak and average power demand, with two units on standby and to facilitate maintenance. The plant has a black start generator to provide power needed to start the plant after an outage. Backup power, in the event of an outage (planned or unplanned), is supplied or supplemented by portable generators.

Annual natural gas requirements for the operation of the power plant are estimated at 1,450,000 gigajoules (GJ) during ramp up, and 2,800,000 GJ at peak production. Gas is supplied from the existing TC Energy Mainline pipeline located approximately 12 km north of the Mine, and the natural gas is brought to the Mine via a new distribution pipeline.

Power is distributed to facilities further afield, such as the TMF and dewatering points, via an overhead 13.8 kV distribution line network. For the closer process facilities and support facilities, the power supply is stepped down to 4160 V and 600 V and distributed by power line, cable trays, or underground with buried utilities.

The mine site is also connected to the Hydro One power grid via 12.5 kV distribution lines supported by two Hydro One electrical substations in Geraldton of 3.7 MW and 2.0 MW capacity.

18.6 Other Infrastructure

18.6.1 Truck Maintenance Shop and Warehouse

The truck shop has eight heavy-duty maintenance bays (four bays for servicing mining haul trucks, and the other bays used for smaller support equipment, large loader, drill rigs) and a wash bay. Three 30/5 t overhead cranes service the maintenance bays. Compressed air is provided throughout the maintenance facility. Lubricants are stored in a specific enclosed area and are distributed to four reel stations. The warehouse is used to store consumables and maintenance parts. Office space is provided within the warehouse.

18.6.2 Site Mixed Emulsion Plant

The site mixed emulsion (SME) plant is located along the haul road to the TMF.

18.6.3 Sewage Treatment Plant

The sewage treatment plant is located near the process plant. It treats sewage flows from the mine site offices, mine dry building and process plant. The plant is sized to handle 300 persons at any given time, based on a design flow rate of up to 250 L/person/d and for a total estimated sewage flow of 75,000 L/d, with a maximum discharge rate not exceeding 0.9 L/s. Treated sewage effluent is co-discharged with the treated mine effluent to the Southwest Arm of Kenogamisis Lake.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

18.6.4 Fuel Supply Storage and Distribution

Fuel is stored at the process plant fuel station and the heavy-duty truck fuel station near the pit to serve light vehicles and mine equipment, respectively. The process plant fuel station includes a double-walled split tank (50,000 L diesel and 20,000 L gasoline). The heavy-duty truck fuel station has three double-walled, above-ground 50,000 L diesel storage tanks and one double-walled, above-ground 50,000 L urea storage tank. Liquid urea is used as an additive with diesel fuel to reduce nitrous oxide (NOx) emissions of the mine fleet.

A new fuel station is being designed for the TMF area to provide fuel to equipment working in the area.

18.6.5 Communications Network

A site-wide, fibre optic communications network has been installed for site communications. Cellular phone coverage is provided by a 100 m tall tower and hosts all cellular, radio and mine dispatch systems.

18.6.6 Main Access Road

The site is accessed via Trans-Canada Highway 11, approximately 275 km northeast of Thunder Bay and 600 km west of Timmins/Matheson. A dedicated site access road has been constructed off Trans-Canada Highway 11 to the administration, mineral processing, power generation, and shop facilities.

18.6.7 Assay Laboratory

Assaying requirements are divided amongst a third-party offsite arrangement for sample preparation and gold assaying, an in-house geochemical lab for digestions and assaying of other elements, and a second third party offsite laboratory for certified water analysis. Assaying services for the Mine are outsourced.

18.6.8 Administration Building

The administration offices complex is located near the process plant building and has offices, conference rooms, lunchroom, first aid station, and change rooms for both men and women.

18.6.9 Fire Protection

The process plant site fire protection system consists of two main loops that serve the wet sprinkler system for the processing plant (grinding and west plant buildings), HPGR building, crushed ore storage and reclaim tunnel facility, administration building, and truck shop. A dry section of the sprinkler system serves the crushing building (primary and secondary crushers). A perimeter fire hydrant network is installed around the plant infrastructure and process plant. The fire protection system is fed from a dedicated fire pumping station with centrally controlled automatic fire detection and alarms.

18.6.10 Security

Access to the processing, power, and administration area is secured by a remotely operated vehicle gate, controlled by security guards on 24-hour duty. The processing facilities and truck shop are monitored by CCTV surveillance. There is additional CCTV surveillance of the yard area around the processing, power, and administration areas, including the employee parking area and main gate. The gold refinery and gravity circuit area has an additional level of security.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

18.6.11 Site Camp

The camp is located on GGM-owned land approximately 2.5 km north of the process plant site on Old Arena Road near the intersection with Michael Power Boulevard. The camp currently has an average occupancy of approximately 525 persons, with a peak capacity of approximately 600 persons. The camp currently requires the collection and trucking of wastewater to a local disposal/treatment facility, but a septic field is currently designed and permitted.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

19.0 Market Studies and Contracts

19.1 Gold Price for Mineral Reserves and Mineral Resources

The gold markets are mature global markets with reputable smelters and refiners located throughout the world. Gold is a principal metal traded at spot prices for immediate delivery.

The average gold price for 2023, 2024, and 2025 was $2,593/oz.

The determination of the Mineral Resource and Mineral Reserve prices is not based on a fixed average, but rather an informed decision made by looking at the trends in gold price. The Mineral Reserve price forecast of US$2,100/oz Au provided was the base price used for mine planning and is line with the average gold price of the past three years.

The Mineral Resource price forecast of US$2,300/oz reflects Equinox Gold's upside view of the gold price and at the same time ensures that the Mineral Resource estimate will meet the reasonable prospects for eventual economic extraction requirement.

19.2 Doré Refining and Gold Bullion Sales

GGM has a standard industry contract for the sale of gold doré. The current contract for refining doré from the Mine is as follows:

&nbsp;&nbsp;&nbsp;&nbsp;· 0.01% to 0.05% deduction

&nbsp;&nbsp;&nbsp;&nbsp;· 99.95% to 99.99% payable.

GGM has a gold bullion sales contract with Asahi Refining USA, Inc. The average selling cost (for refining and transportation) is $1.87/oz and is valid until March 31, 2026.

19.3 Contracts and Agreements

GGM has existing contracts for the supply of major consumables, including diesel fuel, electricity, cyanide, and explosives, as well as for major equipment and construction services.

19.3.1 Diesel Fuel Supply Agreement

GGM has a tri-party agreement with Imperial Oil and Long Lake #58 First Nation for fuel supply, and this agreement is valid until August 31, 2027.

19.3.2 Power (Electrical) Supply Agreement

GGM owns and operates a 56 MWe (gross) power plant at the Mine that consisting of six Wärtsilä 20V34SG natural gas-powered generators and associated auxiliaries. GGM has a service agreement with Wärtsilä Canada Inc., for optimized maintenance and operational support services. The current energy service agreement is valid until November 17, 2028.

19.3.3 Cyanide Supply Agreement

GGM has an agreement with Cyanco for solid sodium cyanide supply. This agreement is valid until December 31, 2027, and has a one-year option to renew.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

19.3.4 Explosives Supply Agreement

GGM has an agreement with Dyno Nobel Canada Inc. to supply explosives and services. The initial term of the contract is 60 months and is valid until August 22, 2028, with renewals for successive one-year periods.

19.3.5 Drill Equipment Service Agreement

GGM has an agreement with Epiroc Canada Inc. to perform maintenance and provide parts for the Epiroc-branded drill equipment. The current two-year agreement is valid until August 1, 2027.

19.3.6 Tailings Management Facility Construction Services

GGM has an agreement with Amik Ltd. (Cloutier Contracting) for TMF dam construction. The current agreement is valid until December 31, 2026.

19.3.7 Mining Equipment Support Services

GGM has a service support and parts agreement with Toromont Caterpillar, a division of Toromont Industries Ltd., for the Caterpillar-branded equipment. The current service and parts agreements are being negotiated with the intent to extend until end of 2026.

19.3.8 Comments on Market Studies and Contracts

The Qualified Persons note the following:

&nbsp;&nbsp;&nbsp;&nbsp;· The doré produced by the mine is readily marketable. Metal prices are set corporately for Mineral Resource and Mineral Reserve estimation, and the gold price used for Mineral Resource and Mineral Reserve estimation in this Report was US$2,300/oz and US$2,100/oz, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;· The Qualified Persons have reviewed commodity pricing assumptions, marketing assumptions, and the current major contract areas and considers the information acceptable for use in estimating Mineral Reserve and Mineral Resource and in the economic analysis that supports the Mineral Reserve.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

20.0 Environmental Studies, Permitting, and Social or Community Impact

The Mine has been in operation since November 2024 with environmental programs and studies focused on compliance obligations required under the various permits, licenses, and authorizations in force since the completion of the federal Environmental Impact Statement and provincial environmental assessment (EIS/EA) processes, or that have been obtained in the period since the completion of the EIS/EA.

Consultation with stakeholders (e.g., community members, agencies, interested parties) and Indigenous communities is an integral part of the Mine. Active participation through consultation helps to achieve an open and transparent process, build trust, enhance awareness of the Mine, and strengthen the quality of results. Consultation occurred throughout Mine planning, permitting, and Mine construction, and GGM is committed to maintaining stakeholder relationships through active consultation during operations and into closure. Impact benefit agreements have been established with five Indigenous groups. Social and community considerations are described in Section 20.4. GGM is committed to continuous improvements in environmental performance and community development.

20.1 Site Environmental Conditions and Monitoring Programs

Environmental conditions and studies described in this section are based on information documented in EIS/EA baseline reports and annual regulatory submissions required under the various permits and EIS/EA conditions. The Project Development Area (PDA), which encompasses the Mine footprint and the anticipated area of physical disturbance associated with Mine construction operation, is shown in Figure 20-1.

A monitoring framework for both compliance and effects monitoring is in place and applies to all phases of the Mine life. Environmental Monitoring and Management Plans (EMMP) have been developed and outline the environmental protection measures and commitments to be carried out by GGM and its contractors and subcontractors to avoid or reduce potential adverse effects. These EMMPs outline adaptive management and contingency measures to respond to exceedances of regulatory standards related to environmental discharges or other adverse effects of the Mine. Contingency measures specific to each EMMP are implemented if regular environmental and compliance monitoring programs detect deviations from standard operating conditions that result in, or may lead to, adverse effects on worker safety or the environment.

The EMMPs are living documents that require refinement following permit amendments, modifications to monitoring programs, changes in company policies and procedures, reviews of environmental and community monitoring data, and requirements of the Mining Association of Canada's Towards Sustainable Mining initiative and the World Gold Council's Responsible Gold Mining Principles. Program plans are iterative by nature, and the environmental monitoring data will be used to inform adaptive management, which is a process for continuously improving environmental management practices to which GGM is committed.

Given the short duration since the start of operations at the site, the results of the monitoring program that fall under the individual EEMPS are not expected to show any significant trends.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Figure 20-1: Location of the Greenstone Gold Mine and Project Development Area (PDA)
20.1.1 Geology and Geomorphology

20.1.1.1 Physiography

The Mine lies within the Boreal Shield, a Canadian ecozone where the Canadian Shield and the boreal forest overlap. Precambrian bedrock at, or near, the surface plays an important role in shaping the biophysical landscape. Lakes, ponds, and wetlands are abundant in this landscape, and drainage patterns are typically dendritic, with sporadic angular drainage due to the presence of bedrock outcrops.

The topography is relatively flat to gently rolling, with surface elevations ranging from 375 masl in the western portion of the PDA to 335 masl along the shoreline of Kenogamisis Lake. Lower-lying areas within the PDA are characterized by swamps and ponds with poor drainage and cover approximately 35% of the PDA. The PDA is bounded to the south, east, and north by Kenogamisis Lake, which forms the main watershed in which the Mine is located. Local water features and topography were an important consideration in the siting and design of key Mine components, including the TMF, associated watercourse diversions, and the waste rock storage areas (WRSA).

20.1.1.2 Surficial Soils and Geology

The surficial soils and geology are typical of the boreal forest region overlying the Precambrian shield in northern Ontario. Soils are relatively young, exhibiting less than 10,000 years of development, comprising organic muck (approximately 36% of the PDA), well-drained brunisols over thin bedrock (comprising approximately 35% of the PDA), and poorly drained gleysols (approximately 13% of the PDA). Developed land and water make up the remaining 16% of the PDA.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Surficial geology consists of large areas of glacial till, glacial outwash, and glaciolacustrine and glaciofluvial deposits. These surficial deposits are highly variable in their presence and thickness across the site ranging up to approximately 20 m where they are present. Unique to this area is the high percentage of calcareous (carbonate-rich) substrates. Carbonates are commonly found throughout all modes of soil deposition within the PDA and surrounding area. Till and other discontinuous drift (gravelly silty sand to sandy silt) is mapped in the PDA's northern and western portions, generally near the open pit and northern portion of the TMF. Subaqueous outwash and associated glaciolacustrine sediment (rippled, silty, fine to very fine sand; silts; and minor clay as thin interbeds) occur along the eastern portion of the PDA, primarily to the south of the open pit in the area of WRSA D and the southern portion of the TMF. Organic deposits such as peat or muck are present in wetlands and river valleys and are typically between 1 m and 3 m thick. Ice-contact glaciofluvial sediments (sand and gravel) or thick till (gravelly clayey silt to gravelly sandy silt) are located along the western boundary of the PDA and correspond to an esker that extends southwest from Mosher Lake to the eastern reaches of Goldfield Lake.

20.1.1.3 Bedrock Geology

A detailed description of the bedrock geology and controls on mineralization is presented in Section 7.0.

20.1.2 Acid Rock Drainage/Metal Leaching Potential

A comprehensive geochemical testing program of over 4,000 samples was completed as part of the environmental assessment process to characterize waste rock, ore, overburden, and tailings associated with the Mine. The Mine is in the process of establishing ongoing geochemical characterization programs for waste rock and tailings in order to confirm the findings of the environmental assessment programs.

20.1.2.1 Waste Rock

The metal leaching potential of the waste rock identified arsenic, antimony, aluminum, cobalt, and uranium to be the constituents of potential concern (COPC) based on comparison to the Ontario Provincial Water Quality Objectives (PWQO). Leaching of arsenic was found to be associated with the other COPC, which allowed for a Waste Rock Management Plan (WRMP) to be developed that addresses management of materials for both potential acid rock drainage and metal leaching during operations. WRSA seepage water is collected in perimeter ditching and pumped to the TMF or site Effluent Treatment Plant (ETP) for treatment prior to discharge to Kenogamisis Lake. The seepage collection systems will be decommissioned during closure once the seepage chemistry achieves discharge quality.

GGM routinely samples waste rock and reports on its characterization deposition location as required by Mine permits. Waste rock classified as PAG or high arsenic is disposed of according to the requirements of the WRMP. The characterization of waste rock and its disposal location are reported annually as required by mine permits.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

20.1.2.2 Tailings

Geochemical characterization for the tailings estimated that 9.7% of the tailings are classified as PAG, with a minimum acidification onset time for PAG tailings of 12 years based on laboratory neutralizing-potential depletion rates. These rates are expected to be slower under field conditions due to the variability of climatic conditions compared to a controlled laboratory environment. Un-ionized ammonia, cobalt, copper, arsenic, antimony, silver, and free cyanide were identified as potential COPCs during operation based on comparison with the PWQO. Seepage through the TMF dams is collected and pumped back to the TMF during operations. The seepage collection systems will be decommissioned during closure once the seepage chemistry achieves discharge quality and seepage will be directed to the receiving environment.

20.1.3 Atmospheric Environment

The Mine has a climate typical for Northern Ontario. The nearest permanent weather monitoring station is located approximately 14 km north of the Mine at the Geraldton Airport. Weather statistics for the period 1971-2000 indicate a mean daily temperature of 3.9°C. Temperatures range between a maximum of 37°C and a minimum of -50.2°C. The mean annual rainfall is recorded at 546.4 mm, and the mean annual snowfall is 244.5 cm. On average, precipitation is recorded 167 days/year. The site maintains a weather station which measures temperature, precipitation, relative humidity, barometric pressure, wind speed, and wind direction. The site station has been correlated to the permanent station, and these data were used for the environmental impact assessment.

The Ministry of Transportation operates an aggregate quarry to the northeast of the Mine, which is primarily downgradient of prevailing winds. There are no other major industrial operations in the vicinity of the Mine, so air quality in the area is primarily influenced by mining and quarrying activities, as well as seasonal wildfires.

Air quality impacts from mining operations are related to fugitive dust from roads, material extraction, stockpiles, and loading/unloading operations. The mine uses air quality modelling during operations to identify areas for fugitive dust mitigation, in addition to a network of eight monitoring locations used to quantify dustfall from operations. Three of the eight stations are equipped to monitor PM<sub>10</sub>, PM<sub>2.5</sub>, total suspended particulates (TSP), crystalline silica, NO2, SO2, benzene and benzo[a]pyrene (B(a)P), while the remaining five stations are passive dust fall cannisters.

Results from the ambient monitoring program are reported annually as a regulatory requirement with identified periodic exceedances of the permit criterion investigated by the Mine and included in regulatory reporting. Observed exceedances have been associated with fugitive dust from haul roads, which are addressed by the Mine through the implementation of controls (e.g., reduced haulage speed, application of calcium chloride, road watering).

20.1.4 Acoustic Environment

The Mine manages noise according to its Noise and Vibration Monitoring Management Plan and maintains three noise monitoring stations to measure short and long-term noise. These stations were sited based on the presence of receptors and include two residential dwellings and the campsite at the MacLeod Provincial Park. Results of the noise monitoring program are reported annually as required by Condition 23 of the Provincial EA Notice of Approval with all exceedances of criterion being investigated.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Results from the noise monitoring program show that exceedances at the monitoring locations are primarily due to non-mine traffic. Two potential mine-related noise exceedances were noted at the Rosedale Point monitoring location in January and June of 2025 and were attributed to road maintenance in that area.

20.1.5 Groundwater

The overburden and shallow bedrock aquifers are hydraulically connected around the Mine. Groundwater levels are generally found 1 m to 2 m below ground surface. Groundwater flow is strongly influenced by topography, which results in localized groundwater flow from topographic highs, with groundwater discharge to wetland areas or surface water features. Overall, the regional groundwater flow within overburden is to the southeast, toward Kenogamisis Lake. Significant water producing fractures or faults were not encountered during baseline studies, suggesting that significant water inflow from natural fractures or faults is not expected during open pit development. This is supported by the historical underground mining, during which significant water inflows were not identified. During closure, groundwater inflows to the open pit are predicted to form a pit lake, which will be connected to Kenogamisis Lake through a constructed channel. Modelling shows the time to fill the pit lake at approximately 147 years.

Groundwater that has been affected by historical tailings was characterized as having elevated concentrations of arsenic, cobalt, nickel, zinc, cadmium, cyanide, aluminum, and selenium relative to background. Concentrations of arsenic, aluminum, cyanide, and selenium exceeded the Ontario Drinking Water Quality Standards (ODWQS) whereas concentrations of arsenic, cobalt, cadmium, cyanide, nickel, and zinc exceeded the Canadian Council for the Ministers of the Environment Aquatic Protection Values (APV).

Groundwater potentially associated with the historical plant sites was characterized as having elevated concentrations of arsenic, aluminum, and copper. Concentrations of arsenic and aluminum exceeded the ODWQS whereas the concentration of copper exceeded the APV.

Overburden and shallow (<20 m) bedrock water in areas not impacted by historical mining areas was generally of good quality, with parameters occasionally above the Ontario Regulation 169/03 ODWQS, reflective of location conditions. Elevated concentrations of hardness, iron in 31% of samples, and manganese in 69% of samples, were consistently observed at a majority of background monitoring wells in the overburden and bedrock. These exceedances varied between well locations but are considered as being typical of overburden and shallow groundwater in this part of Ontario and are reflective of the natural mineralization and geochemical processes in the area.

Water quality for groundwater samples representing deep (> 20m) bedrock, as collected from exploration boreholes and the Mosher shaft, exceeded the ODWQS for aluminum and zinc in a single sample, iron in 16% of samples, and manganese in 89% of samples. Arsenic concentrations in deep bedrock samples exceeded the ODWQS in 21% of samples.

Groundwater monitoring is conducted at select locations around the Mine with reporting of the results submitted annually as required under Condition 7(13) of ECA No. 5354-CF8HG7 and Condition 8(5) to 8(8) of ECA No. 0735-C9PMD6. Figure 20-2 shows the location of the groundwater monitoring stations. Monitoring data collected prior to the start of mining operations are considered when evaluating the results of groundwater quality monitoring.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

The groundwater monitoring program is managed based on the Multi-Media Monitoring Plan (MMMP) and includes monitoring of groundwater levels in addition to a standard suite of groundwater quality parameters, including general chemistry cations, anions, and metals. The MMMP documents an adaptive management approach to monitoring by identifying trigger thresholds and providing alerts that will allow action plans to be implemented prior to a significant effect on the receiver waterbodies.

Other reporting requirements under the MMMP associated with groundwater are related to dewatering from historical shafts located on the Greenstone Property and the seepage collection system for the in situ MacLeod High Tailings (MHT), all of which are located north of Highway 11 on the shore of Barton Bay. The MHT seepage collection system is designed to collect and pump intercepted seepage to the Mine's ETP and reduce impacts from historical mining on Kenogamisis Lake. During closure, the in situ MHT will be capped with an engineered cover to reduce seepage. Initially, any seepage will be directed to the open pit until the water quality improves to the point that a passive treatment system (e.g., constructed wetland) can be installed with a discharge to Barton Bay.

20.1.6 Soil Quality

Soil is managed by GGM according to the Soil Management Plan, which classifies soil into six types (Type A, A2, A3, B, C, and D). The soil classifications were developed to address impacts associated with historical mining operations at the site from petroleum hydrocarbons and polychlorinated biphenyls (PCBs).

Characterization has been completed for 11.8 Mm<sup>3</sup> soil across the PDA: 64% (7.5 Mm<sup>3</sup>) was classified as Type A, 31% (3.6 Mm<sup>3</sup>) as Type B, 4% (0.4 Mm<sup>3</sup>) as Type C, and 1% (0.09 Mm<sup>3</sup>) as Type D. Type B and C soils are typically associated with elevated concentrations of antimony, arsenic, boron, cobalt, copper, nickel, and molybdenum. Type D non-metal parameters are predominantly petroleum hydrocarbons, with a smaller amount of PCBs. The majority of the soil remaining to be characterized is within the footprint of the open pit, where it is anticipated to be consistent with Type A and B soil, with a minor component of Type C.

An annual report detailing the results of soil management is required by Condition 9 of the provincial EA and is submitted to document the soil types, volumes, and disposal locations. Soils are classified in advance of excavation based on an area specific site investigation program.

20.1.7 Historical Tailings Quality

Mining activities associated with the historical Hardrock, MacLeod–Mosher, and Little Long Lac mines resulted in the presence of historical tailings within the PDA, which are referred to as the MacLeod tailings and Hardrock tailings. Condition 10.6 of the provincial EA Notice of Approval requires the Mine to develop and implement a Historical Tailings Management and Relocation Plan (HTMRP) for the areas in which historical tailings and overlying contaminated soils are likely to be disturbed or removed as part of Mine development. Annual reporting requirements under Condition 10.6 include detailed information for excavation and on-site deposition quantities and locations.

To date, the excavation of historical tailings is within the open pit footprint. Approximately 3.9 Mt of historical tailings have been excavated at the Mine and disposed of within the existing TMF. An additional 1.4 Mt is currently planned to be similarly excavated and disposed of over the remaining LOM into the TMF.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

20.1.8 Surface Water

20.1.8.1 Hydrology

The Mine is in the Kenogamisis River watershed, adjacent to Kenogamisis Lake. The lake covers 44.8 km<sup>2</sup> and is long (~1 9 km) with large portions being shallow (<10 m). The lake consists of four main basins referred to here as the Southwest Arm, Barton Bay Basin, the Central Basin, and Outlet Basin. Water levels within the lake are controlled by the Kenogamisis Lake Dam with normal operating water levels ranging between 329.32 masl and 329.70 masl.

The two primary permanent watercourses in the PDA are the Southwest Arm tributary and Goldfield Creek (GFC). The Southwest Arm tributary is a second-order tributary, the main branch of which originates in a wetland that drains eastward for approximately 3.3 km before discharging into Kenogamisis Lake. GFC is a larger watercourse, with a watershed area of 32 km<sup>2</sup>. The creek originates at Goldfield Lake and drains eastward to Kenogamisis Lake. Other areas of the PDA drain towards Mosher Lake and Barton Bay and the Central Basin of Kenogamisis Lake.

#### Figure 20-2: Greenstone Gold Mine Water Quality Monitoring Stations
GFC was diverted around the TMF in November 2022 to allow for the final stages of construction and subsequent commissioning of the TMF. The GFC diversion was constructed to divert GFC and to offset aquatic habitat that the TMF overprinted. In May 2023, significant erosion of the lower reaches of the GFC diversion resulted in the release of sediment into the creek with subsequent deposition in Southwest ponds (SWP) 1 and 2, and a lesser amount of deposition in SWP 3. The sediment release resulted in orders from the Department of Fisheries and Oceans Canada (DFO) and the Ministry of the Environment, Conservation, and Parks (MECP).

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

GGM implemented immediate mitigation measures that included silt fencing, armouring some of the meanders with rock, and installing erosion and sediment control berms within the GFC diversion channel. A temporary bypass channel was designed and constructed to divert flow around the unstable portion of the GFC diversion. The temporary bypass channel was constructed as a hydraulic function and not intended for aquatic life.

GGM is working in consultation with MECP, Ministry of Natural Resources and Forestry (MNRF), Impact Assessment Agency of Canada (IAAC), DFO, and Indigenous groups, for the GFC diversion redesign and mitigation, as well as to implement measures directed in regulatory orders.

Surface water quantity is managed according to the MMMP, with annual hydrometric reporting required under Condition 8(5) of ECA No. 1846-CGYLYN. Streamflow monitoring is completed at nine watercourses while water level monitoring is conducted at an additional 12 locations. Figure 20-2 shows the location of the surface water monitoring stations. Additional water quality monitoring stations are monitored as part of fish and fish habitat programs administered by the GGM. Monitoring completed to date aligns with the results of the baseline monitoring programs.

20.1.8.2 Water Quality

Surface water quality is generally moderately hard (i.e., with a moderately high mineral content) at surface monitoring locations, with mean pH values ranging from pH 6.1 to pH 8.4 and mean total dissolved solids concentrations ranging between 88 mg/L and 1,117 mg/L, which is considered typical of northern Ontario lakes. The main COPCs in Kenogamisis Lake include arsenic and iron, which have been attributed to seepage from historical tailings deposits. Seasonal and spatial trends are evident in the data. The lowest concentrations were measured during the spring freshet and increased gradually through the summer and fall. In lakes and creeks, sampled as unaffected background or reference lakes, most metal concentrations were below Canadian Water Quality Guidelines (CWQG) and PWQO. Exceedances of the PWQO and GWQG were identified in background creeks and lakes with the number of elements exceeding varying seasonally and between locations. Background concentrations are taken into account when evaluating the results from the Mine surface water quality monitoring program. Parameters that were naturally elevated above the PWQO and CWQG in background creeks included aluminum, arsenic, iron, phosphorus, and zinc. Exceedances of the PWQO and GWQG in background lakes included aluminum, arsenic, copper, iron, and zinc.

Water quality monitoring is part of the MMMP, which includes an adaptive management framework in addition to two trigger thresholds related to increasing water quality trends. The trigger thresholds are designed to identify potential effects associated with the Mine before they have the potential to result in a significant adverse effect on the environment. The first trigger is associated with three consecutive parameter exceedances above seasonal 95th percentile baseline concentrations, with the concentration being at least five times the detection limit. Where a location already has water quality below the 95th percentile, the first trigger threshold is defined as a 10% variance above the predicted water quality for that location as determined during the environmental assessment process. The second trigger threshold is associated with an exceedance of first trigger threshold and a statistically significant upward trend for a given indicator parameter.

Annual reporting—which includes analysis of all monitoring data to determine trends, comparisons to effluent limits, and other details of the monitoring program—is required under Conditions 6, 7, and 8 of ECA No. 1846-CGYLYN. Exceedances of effluent limits are investigated in order to determine appropriate mitigative actions that can be implemented to reduce the potential for re-occurrence. Figure 20-2 shows the location of water quality monitoring stations that are included in the annual reporting.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Kenogamisis Lake is classified as a Policy 2 receiver by the Government of Ontario, which means that background water quality exceeds PWQO as a result of historical impacts. Therefore, the Mine must take all reasonable and practical measures to improve water quality for arsenic, iron, and phosphorus. Condition 12 of the provincial EA requires that the Mine implement a Policy 2 plan specific to arsenic, iron, and phosphorus. An annual report is submitted to the MECP District Manager as part of the Policy 2 Plan documenting discharges and associated loadings to that system. The annual report documents measures implemented by the Mine to reduce loadings of parameters of concern. Examples of measures implemented include upgrades to the Geraldton Sewage Treatment Plant phosphorus treatment technology, collection and treatment of Mine contact water, dewatering of the historical underground workings to stop seepage from Hardrock Shaft No. 1, and relocation of a portion of the MHT.

Mercury and methyl mercury were identified as COPC during the environmental assessment process associated with the GFC diversion channel and the inundation of wetland areas. A Mercury Monitoring Program and Management Plan (MMPMP) was developed and implemented by GGM as a requirement of Condition 15 of Order in Council 404/2019. This plan includes submission of reports following the completion of bi-annual monitoring programs. To date, the findings from the MMPMP have not identified any consistent trends indicative of increased mercury methylation associated with wetland inundation.

20.1.9 Fish and Fish Habitat

An abundance of potential spawning habitat for northern pike and yellow perch has been documented throughout most lakes. Important spawning and feeding habitat for species like walleye and lake whitefish was documented where the Kenogamisis River and Magnet Creek flow into Kenogamisis Lake. Important spawning habitat for these species may also be provided by rocky, mid-lake shoals in Kenogamisis Lake and Goldfield Lake. Moderate-sized streams, such as GFC and its main tributary, provided a variety of cover types and habitats, although riffle habitat was limited in the PDA and surrounding area. Shallow, isolated ponds, and first-order watercourses in the PDA and surrounding area are likely to freeze to the bottom in winter, limiting fish use in these types of habitat. Highly organic substrates and ice cover may also create anoxic conditions in these areas, further limiting fish distribution.

Fish species found in Kenogamisis and Goldfield lakes include walleye, lake whitefish, northern pike, yellow perch, burbot, spottail shiner, trout, perch, and blacknose shiner. No species identified were listed as federal or provincial species at risk (SAR), nor are SAR expected to occur in the area assessed as part of the aquatic assessment for the EIS/EA.

GGM implemented a Fish and Fish Habitat Follow-up Monitoring Plan to address 11 federal EIS conditions associated with monitoring for potential effects from the Mine on fish and fish habitat. In addition to the federal requirements, the GGM developed and implemented a Fish Sampling Programs and Fish Population Monitoring Plan as required by MECP in Condition 14.6 of Order in Council 404/2019. Annual reports outlining the results of monitoring and other studies must be submitted to satisfy both the federal and provincial requirements. Fish tissue samples were collected based on a before-after-control-impacted study design to evaluate impacts from the GFC diversion. Increases in mercury and methylmercury were observed in fish in the exposure zone. This effect was predicted and is expected to be temporary. Additional monitoring is planned to be conducted in subsequent years to validate the temporary nature of the mercury and methylmercury trend.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

20.1.10 Sediment Quality

Sediment samples were collected throughout the PDA and surrounding area in 2013 and 2015 to supplement sediment data collected from Kenogamisis Lake in 2011. Copper and arsenic commonly occur in sulphide-based minerals, and the Geraldton area is rich in such minerals, so some naturally elevated levels of copper, arsenic and other metals are expected. Arsenic exceeded the MECP Lowest Effect Level (LEL) in all sample replicates across the studied area in the EIS/EA, except for Wildgoose Lake. The MECP Severe Effect Level (SEL) was exceeded in replicates at several sampling stations, consisting of Lake A-322, Goldfield Lake, Mosher Lake, Barton Bay, and Central Basin of Kenogamisis Lake. Common parameters that exceeded the LEL were cadmium, chromium, copper, lead, and nickel.

A sediment monitoring program is described in the MMMP and is conducted every three years at 17 sampling locations located in seven different waterbodies. Sediment sampling was completed in 2025; however, the results were not available at the time of this report preparation. The results of the sampling are included in annual reporting for the year in which the sampling program is completed.

20.1.11 Vegetation Communities

The Mine lies on the southern boundary of the boreal forest. The boreal forest is a mix of deciduous and upland coniferous forest cover, as well as wetland coniferous swamp. Vegetation communities are predominantly coniferous with deciduous associates. White and black spruce, tamarack, balsam fir, and jack pine are common throughout the Mine Area, with frequent occurrences of deciduous vegetation communities and species, including white birch, trembling aspen, and balsam poplar.

Wetland vegetation communities occur throughout the PDA and surrounding area and are common to the boreal forest region. Anthropogenic disturbances in the Mine Area have resulted in a variety of vegetation communities, ranging from open disturbed sites showing early successional growth, to mature naturalized deciduous and coniferous forest communities. In the PDA, ecosites were approximately 40% conifer-dominated upland forest, 10% hardwood-dominated forest, 2% mixed forest, 35% swamp, and <2% open wetland (marsh, bog, and fen) communities. The remaining <1% cover was shallow open water. Disturbed ecosite types made up 11% of the PDA.

No plant SAR or species of conservation concern (SOCC) were recorded in the PDA and surrounding area during botanical inventories and are assumed not to be present in the PDA and surrounding area. No known provincially significant wetlands or provincially rare communities were identified in the PDA or surrounding area.

20.1.12 Wildlife and Wildlife Habitat

Wildlife observed in the area includes various mammals, birds, reptiles, and amphibians, which are generally common and abundant to the boreal region. Mammal species observed during baseline surveys include moose, black bear, grey wolf, red fox, lynx, pine marten, ermine, little brown myotis, northern myotis, silver-haired bat, hoary bat, striped skunk, snowshoe hare, woodchuck, red squirrel, least chipmunk, and beaver. Confirmed resident or breeding SAR and SOCC in the studied area surrounding the Mine include Canada warbler, bald eagle, eastern wood-pewee, common nighthawk, barn swallow, northern myotis, and little brown myotis. No amphibians or reptiles on the SAR or SOCC lists were recorded.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Woodland caribou (Rangifer tarandus caribou) were not recorded, and their presence is unlikely, however, the Mine is in an area identified as critical habitat for woodland caribou (Environment Canada 2012) and is in the Caribou discontinuous distribution habitat area. Provincially significant wildlife habitat (SWH) identified within the Mine Area includes moose late-winter cover, waterfowl stopover and staging habitat (aquatic), amphibian breeding habitat, turtle wintering area, taiga alpine butterfly habitat, and waterfowl nesting habitat.

Wildlife and wildlife habitat monitoring is conducted according to the Biodiversity Management and Monitoring Plan (BMMP), which has been designed to address federal requirements related to migratory birds (e.g., barn swallows and bald eagles). The BMMP also captures provincial requirements that include wildlife observations, waterfowl monitoring, and bank swallow management in addition to the federal requirements.

20.1.13 Land and Resource Use

Existing land use in the region includes urban and rural uses, transportation, mineral exploration, and historical and current activities like logging and mining, with abundant natural landscape features. These land uses occur on a mix of patent and Crown lands. Urban uses in, and adjacent to, the Mine Area are concentrated in Geraldton and local townsites established during previous mining activities. Commercial resource activities include trapping, baitfish harvesting, guide outfitting, forestry, and mineral exploration. There are also several active and inactive aggregate mining areas in the region.

The MacLeod Provincial Park is east of the Mine across the central basin of Kenogamisis Lake. This park offers opportunities for camping, fishing, swimming, boating, canoeing, biking, picnicking, and birdwatching. Other outdoor recreation infrastructure in the Mine Area includes hiking, cross-country skiing, and snowmobile trails.

Indigenous communities fish in the lakes and rivers throughout the area. Mammals (e.g., moose, rabbit, beaver, marten) and birds (e.g., geese, ducks, grouse) are hunted and trapped by Indigenous community members. Trapping areas used by Indigenous community members occur throughout the Mine and surrounding area. Cultural sites (including trails and travel ways), sacred areas, communal gathering areas, and habitation sites are used by local Indigenous communities. These communities continue to use traditional gathering places for socializing, harvesting, or ceremonies in the Mine Area. There are no traplines in the PDA.

20.1.14 Heritage Resources

20.1.14.1Archaeological Resources

The completed archaeological assessments concluded that no archaeological resources were found in the PDA, with no further archaeological assessments recommended.

20.1.14.2Architectural and Historical Resources

Cultural Heritage evaluations identified 18 heritage resources situated within the PDA with only one (CHR1) of these being designated as a Cultural Heritage Resource following completion of the assessment. CHR1 is the former Mine Manager's residence and is a two-story wood framed building located to the east of the open pit. The Mine actively monitors the residence for damage from vibrations associated with blasting.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

20.2 Environmental Approvals

20.2.1 Environmental Assessment

GGM completed a coordinated EA to address both federal and provincial EA requirements through a single process, which resulted in the filing of a single body of information (i.e., the EIS/EA document). Federal approval of the EIS/EA was received in December 2018, and provincial approval was received in March 2019. The EIS/EA was amended December 2019 to incorporate additional information, commitments, studies, reports, and modelling that were submitted after the formal submission of the EA in accordance with Condition 27 of the provincial Notice of Approval.

The federal Decision Statement was amended on February 10, 2021, February 28, 2025, and June 25, 2025, to accommodate minor design changes that occurred during the detailed design of the Mine. On July 18, 2024, the federal Minister of Environment determined that the Decision Statement issued for the Mine contained conditions that could have been included in a Decision Statement issued under subsection 65(1) of the amended *Impact Assessment Act*, and, therefore, the Decision Statement for the Mine was deemed to be a Decision Statement under section 65(1) of the amended *Impact Assessment Act*.

20.2.2 Permits and Approvals

The Mine currently has all the necessary permits and licenses in place to support ongoing operations. A comprehensive list of active permits and approvals for the current operation of the Mine is provided in Table 20-1. Permits and licenses identified without an expiry date remain in force until an application is made to revoke them.

#### Table 20-1: Current Permits and Approvals for the Greenstone Gold Mine.

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|:---|:---|:---|
| **Permit/Approval** | **Issue Date** | **Duration / Expiry <br> (as appropriate)** |
| **Federal Approvals** | **Federal Approvals** | **Federal Approvals** |
| Federal Decision Statement | December 10, 2018 |  |
| 14-HCAA-00498 MMDER Schedule 2 |  |  |
| 14-HCAA-0498 Goldfields Creek Diversion Grade Control Culverts | December 10, 2020 |  |
| **Provincial Approvals** | **Provincial Approvals** | **Provincial Approvals** |
| Order in Council 404-2019 | April 4, 2019 |  |
| **Ministry of Environmental Conservation and Parks – Environmental Compliance Authorizations** | **Ministry of Environmental Conservation and Parks – Environmental Compliance Authorizations** | **Ministry of Environmental Conservation and Parks – Environmental Compliance Authorizations** |
| ECA 0735-C9PMD6 Northside and Full Scale ETP | April 25, 2022 |  |
| ECA 5892-BZWFUP On-site Landfill | May 14, 2021 |  |
| ECA 6354-CF8HG7 Southside | August 31, 2022 |  |
| ECA 6588-CLLFPD Air and Noise | July 23, 2023 |  |
| ECA 1846-CGYLYN Temporary Effluent Treatment Plant and MacLeod High Tailings Seepage | September 2, 2022 |  |
| ECA 7348-C8T877 Mobile RMC Plant |  |  |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

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| | | |
|:---|:---|:---|
| **Permit/Approval** | **Issue Date** | **Duration / Expiry <br> (as appropriate)** |
| **Ministry of Environmental Conservation and Parks – Permits to Take Water** | **Ministry of Environmental Conservation and Parks – Permits to Take Water** | **Ministry of Environmental Conservation and Parks – Permits to Take Water** |
| PTTW P-300-3202796853 Northside and Full Scale ETP | April 6, 2023 | November 22, 2026 |
| PTTW 2855-BMBLGL Temporary Effluent Treatment Plant and MacLeod High Tailings Seepage | June 18, 2020 | March 02, 2030 |
| PTTW 1532-CGGG2Q Southside 1 (TMF, Aggregate Pits Goldfields Creek Diversion) | September 8, 2022 | June 30, 2026 |
| PTTW 6064-C44KSW Southside 2 (Southside 2 culvert crossings) | June 22, 2021 | June 30, 2026 |
| PTTW P-300-5187643949 Freshwater Intake | January 23, 2024 | December 1, 2028 |
| PTTW 5745-D3CKES Temporary Bypass Channel Service-Life Operations | March 21, 2024 | March 31, 2029 |
| **Ministry of Natural Resources and Forestry Approvals** | **Ministry of Natural Resources and Forestry Approvals** | **Ministry of Natural Resources and Forestry Approvals** |
| LRIA NPGE-2024-LRIA-0003 Goldfields Creek Diversion Dyke |  |  |
| LUP NP2019-0448-LUP0017 SW1 Water Intake Line on Kenogamisis Lake |  | July 31, 2030 |
| LUP NP2020-0459-LUP001 Temporary ETP Discharge Line | April 8, 2020 | July 31, 2030 |
| AP 626461 Aggregate Pit S4 | March 6, 2020 |  |
| AP 626462 Aggregate Pit T2 | March 16, 2020 |  |
| AP 626463 Aggregate Pit S1 | March 6, 2020 |  |
| AP 626528 Aggregate Pit TMF Quarry | December 15, 2021 |  |
| Letter of Approval – Extraction of Aggregates from Patent Land | January 29, 2018 |  |
| **Ministry of Transportation Approvals** | **Ministry of Transportation Approvals** | **Ministry of Transportation Approvals** |
| EN-2023-61T-00000040 V1 Highway 11 Entrance to Hardrock Townsite and New OPP | September 11, 2023 |  |
| EC-2023-61T-00000243 V1 13.8kV Overhead Transmission Line at Hwy 11 | September 11, 2023 |  |
| EC-2023-61T-00000204 V1 Greenstone Mine Sign on Hwy11 | September 1, 2023 |  |
| EN-2023-61T-00000028 V1 New Entrance to Access MHT | July 4, 2023 |  |
| **Technical Standards & Safety Authority Approvals** | **Technical Standards & Safety Authority Approvals** | **Technical Standards & Safety Authority Approvals** |
| 14047836 Natural Gas Powerhouse | August 9, 2023 |  |
| 8188649 Piping Registration | November 2, 2022 |  |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

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| | | |
|:---|:---|:---|
| **Permit/Approval** | **Issue Date** | **Duration / Expiry <br> (as appropriate)** |
| **Municipality of Greenstone Approvals (Building Permits)** | **Municipality of Greenstone Approvals (Building Permits)** | **Municipality of Greenstone Approvals (Building Permits)** |
| B-MIN0221GGM Construction of Temporary Camp | June 7, 2021 |  |
| B-MIN0221(B)GGM New Wing Addition to Temporary Camp | August 2, 2022 |  |
| B-MIN0323GGM Construct O2 Supply Building | November 6, 2023 |  |
| B-MIN0323GGM Ore Stockpile Dome | May 19, 2023 |  |
| B-MIN0422GGM(B) Power Plant | June 23, 2022 |  |
| B-MIN0721GGM Office Building and Dry | July 28, 2021 |  |
| B-MIN0821GGM Sewage Treatment Plant | December 15, 2021 |  |
| B-MIN0122GGM Permanent Effluent Treatment Plant | February 17, 2022 |  |
| B-MIN0521GGM Reagent and Cold Storage Building | August 10, 2021 |  |
| B-MIN0421GGM Construction Office Building | July 28, 2021 |  |
| B-MIN0121GGM Camp Waste Structure | June 7, 2021 |  |
| B-MIN0321GGM Temp – Mobile Water Treatment Plant | June 7, 2021 |  |
| B-MIN0622GGM HPGR Building | August 4, 2021 |  |
| B-MIN0722GGM Explosives Reagent Storage Building | November 14, 2022 |  |

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Additional permit applications and amendments will be required throughout operations to account for changes since the EA process in how the Mine is developed and operated (e.g., changes in water management, water takings), or modifications to mine closure. The following permits and approvals are currently contemplated to be required in the future:

&nbsp;&nbsp;&nbsp;&nbsp;· Environmental Compliance Authorization (ECA) and Permit To Take Water (PTTW) for SW Dam Shear Key

&nbsp;&nbsp;&nbsp;&nbsp;· ECA for Ultimate TMF Design

&nbsp;&nbsp;&nbsp;&nbsp;· Municipal Approval for Permanent Camp

&nbsp;&nbsp;&nbsp;&nbsp;· Federal and provincial approvals for expansion of WRSAs to accommodate LOM volumes

&nbsp;&nbsp;&nbsp;&nbsp;· Federal and provincial approvals for expansion of, or construction of an expanded TMF to accommodate LOM volumes and future water discharges

&nbsp;&nbsp;&nbsp;&nbsp;· Federal and provincial approval for the detailed closure plan

The need for expansions of the WRSAs and TMF are not required until later in the mine life and, as such, the QP considers there to be sufficient time for the Mine to complete the required studies and proceed through the permitting processes. The federal approvals under the *Impact Assessment Act* do not trigger the threshold for being a Designated Project and as such will be addressed through the Project Change process.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

20.3 Waste and Waste Management

The Mine has implemented a Waste Management Program in accordance with its Waste Management and Contingency Plan. This management plan was developed to address federal and provincial regulatory requirements for the proper management of all waste materials to be encountered at the Mine during operations.

Waste is disposed of according to the following classifications:

&nbsp;&nbsp;&nbsp;&nbsp;· Solid Non-Hazardous Waste (e.g., non-clean wood, concrete, non-hazardous building demolition materials)

o Cardboard and clean wood are burned at the site. Other materials in this classification are disposed of in a permitted on-site landfill.

&nbsp;&nbsp;&nbsp;&nbsp;· Domestic Waste (e.g., mine dry and administration building waste materials)

o Trucked off-site for disposal in the Longlac landfill.

&nbsp;&nbsp;&nbsp;&nbsp;· Hazardous Waste (e.g., oil, fuel, solvents, etc.)

o Stored in a permitted waste storage and sorting facility with appropriate containment until trucked off-site for disposal by a licensed contractor to a licensed hazardous waste disposal facility.

&nbsp;&nbsp;&nbsp;&nbsp;· Recycling

o There is no recycling of materials at the site as the closest recycling facility is located in Thunder Bay.

Annual reporting of waste types and volumes disposed of each calendar year is submitted to the regulators.

20.4 Social and Community Considerations

20.4.1 Labour and Economy

The Northwestern Ontario economic region includes the Districts of Thunder Bay, Rainy River, and Kenora. Spatially, this is the largest economic region in the province, with the smallest population. Mining is a key component of the economy in Northwestern Ontario, with at least 18 active advanced exploration projects during 2023, as well as nine operating mines (CEDC 2026). One challenge with the growth of the mining sector is recruiting experienced and skilled workers.

GGM has implemented a hiring strategy that focuses on trying to hire at the local and regional levels. The Mine will increase employment within the region, supporting population growth and directly benefitting the economy.

20.4.2 Community Services and Infrastructure

The Town of Geraldton, centrally located in the Municipality of Greenstone, is the service support centre for the surrounding region, including government services (MNRF/Regional Fire Management), medical services (District Hospital), financial services, and retail. Key industries providing employment locally in the Municipality of Greenstone include trades; transport and equipment operations; processing, manufacturing, utilities; and agriculture and resource-based industries, including mining and forestry.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

The Mine is relatively close (<2 km) to existing municipal and provincial services, including water and wastewater, waste, transportation, power, recreational, and emergency services.

GGM operates a temporary worker camp to house approximately 600 direct and indirect employees within the boundaries of the Town of Geraldton. The camp was originally permitted as a temporary facility, however, GGM is in the process obtaining the approvals to make it a permanent facility through the LOM.

A portion of Highway 11 was realigned to allow for Mine development. The new segment of Highway 11 was commissioned in 2023. Along with the Highway 11 realignment, GGM constructed a new Ministry of Transportation Ontario garage and office building in 2023 and is planning to construct a new Ontario Provincial Police station in 2027 to replace the former station, which is located within the PDA.

20.4.3 Indigenous Engagement

Consultation with Indigenous groups and stakeholders (e.g., community members, agencies, interested parties) continues to be key to the success of the Mine. GGM has undertaken active participation through meetings, public open houses, published newsletters, and other events.

Following the federal and provincial EA processes, GGM consults regularly with five communities:

&nbsp;&nbsp;&nbsp;&nbsp;· Animbiigoo Zaagi'igan Anishinaabek First Nation (AZA).

&nbsp;&nbsp;&nbsp;&nbsp;· Aroland First Nation (AFN).

&nbsp;&nbsp;&nbsp;&nbsp;· Ginoogaming First Nation (GFN).

&nbsp;&nbsp;&nbsp;&nbsp;· Long Lake #58 First Nation (LLFN).

&nbsp;&nbsp;&nbsp;&nbsp;· Métis Nation of Ontario (MNO).

Three long-term relationship agreements were implemented in 2020, post-EA, with the three First Nations (AZA, AFN, GFN), the LLFN, and the MNO.

The GGM Indigenous Relations team meets regularly with local Indigenous communities discussing employment, training, and procurement opportunities through the Implementation Committee (IC). The IC comprises members of each of the partnering communities and provides an ongoing forum for communication and co-operative measures for supporting Indigenous participation levels in the Mine. This provides an avenue for community members to voice concerns or questions they may have and to receive feedback from GGM. The Environmental Sub-Committee (EAS) reports to the IC and provides a forum for timely review and consultation and comment on Project Approvals and Environmental Mitigation & Monitoring Plans. The EAS considers and recommends appropriate testing, studies, or programs. Five Environmental Monitors from AFN, AZN, GFN, LLFN, and MNO actively participate in the daily operation of the GGM Environmental Department.

20.5 Closure, Decommissioning, and Reclamation

Prior to April 1, 2024, mining operations in Ontario required that a Closure Plan with Financial Assurance be submitted and approved under the *Mining Act* R.S.O. 1990, Chapter M.14 (amended by S.O. 2010, 18. 23); Part VII under the Act, O. Reg. 240/00 as amended, and Schedule 1 and 2, Mine Rehabilitation Code of Ontario. In 2020, GGM submitted a Closure Plan with Financial Assurance to Mines, which received approval on March 30, 2021. Since approval of the initial Closure Plan, GGM has filed two amendments:

&nbsp;&nbsp;&nbsp;&nbsp;· December 29, 2023: amendment to account for detailed design of the TMF and other Mine infrastructure for commencement of operations.

&nbsp;&nbsp;&nbsp;&nbsp;· August 8, 2024: amendment to include the GFC temporary bypass channel to temporarily divert water from the GFC diversion while repairs occurred to the GFC diversion.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Effective April 1, 2024, the *Building More Mines Act* has made changes to the *Ontario Mining Act* and created Ontario Regulation 35/24 (Rehabilitation of Lands), which replaced Ontario Regulation 240/00 (Advanced Exploration, Mine Development and Closure under Part VII of the Act). Future Closure Plan amendments will be required to follow the updated regulations.

The overall objective of the Closure Plan is to ensure physical and chemical stability of the site and the document includes details on closure, including progressive rehabilitation, rehabilitation measures, monitoring, and expected site conditions following closure. Land use objectives for closure were developed during the environmental assessment process These will be reviewed and updated periodically throughout the mine life with input from Indigenous communities.

At final closure, surface openings and slopes (e.g., stockpiles, embankments) will be assessed by a qualified professional engineer(s) to determine their stability, and any areas disturbed, or likely to be disturbed, by such workings will be stabilized. All rehabilitation measures will be taken in accordance with the prescribed standards so that the use or condition of the site is restored to a condition suitable to the Director. A notice will be provided to the Director of Ministry of Mines, as per subsection 144(1) of the *Mining Act*, immediately following a decision to proceed to close out the site.

All equipment (mobile and fixed), buildings and other infrastructure (e.g., tanks, pipelines, and process equipment) will be dismantled and either disposed of through resale or buried in an approved location. Cleaning and decontamination of equipment will be conducted based on the operational use of the equipment in addition to sampling of residuals present at the end of operations. All reagents present on the site will be sold or shipped from site for disposal at a licensed disposal facility. Any hazardous wastes present or generated during the dismantling or decontamination of equipment and infrastructure will also be shipped from site for proper disposal. All building foundations will be demolished to within 0.5 m of the ground surface and covered with non-PAG waste rock or overburden.

Once mining is completed and open pit dewatering is terminated (end of operation and beginning of active closure), the open pit will begin to fill with water from groundwater inflow, direct precipitation, surface water runoff, and water from pond M1 and the TMF. Once the pit lake water level reaches an elevation of -140 masl (100 m deep), corresponding to the middle of Mine Year 16, fresh water will be pumped from the Southwest Arm of Kenogamisis Lake to promote the formation of a stratified pit lake. Under climate normal conditions, the filling of the open pit will take approximately 16 years after end of operation (Mine Year 15), estimated to be full by the end of Mine Year 31.

The water level in the pit lake will be controlled by an outlet channel/spillway, which connects the southern portion of the pit lake to the Southwest Arm of Kenogamisis Lake. The channel will have a gentle grade, with an upstream invert elevation of 331.0 masl, and downstream invert set at approximately 329.7 masl elevation.

The top surface of the tailings storage facility will be covered by a soil cover and revegetated to improve aesthetics, reduce the potential for surface erosion, and reduce the interaction between surface runoff and the tailings surface. Excess water in the TMF is to be pumped to Mosher No. 1 Shaft using the reclaim pipeline that was used during operation. In addition to expediting the filling of the open pit, this provides an opportunity for the final rehabilitation efforts to be carried out at the TMF and for water quality to improve. Once the open pit has been filled with water to its final water level, and the TMF water has met regulated water quality standards, it will be allowed to discharge to the environment passively through the closure spillway and monitored.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

At closure, the water in the seepage collection ponds and ditches will continue to be pumped back to the TMF, and if required, to the Mosher No. 1 shaft, until water meets acceptable discharge criteria. The TMF seepage collection system ponds may be retrofitted with constructed wetland systems if further polishing of water quality is required prior to discharge.

All WRSAs shall be rehabilitated to meet physical and chemical stability criteria. If seepage water quality from one of the contact water collection ponds is found to consistently meet effluent criteria, with or without the implementation of a constructed wetland, pumping of water to pond M1 will be stopped and the pond will be allowed to discharge as overland drainage.

Stockpiled overburden will be used for rehabilitation of the various Mine components. For the overburden placed over the historical MacLeod tailings, a minimum thickness of overburden will be maintained as required for the final cover design to reduce infiltration into the historical MacLeod tailings. Stockpile for closure is to be sourced from the stripping of Mine components during operations, and an inventory is to be maintained in order to ensure that sufficient materials are available at closure.

Revegetation will occur as soon as practical after Mine components are no longer actively used. Prior to revegetation, the ground surface will be prepared through scarification or ripping of compacted surfaces, contouring the ground surface, placing overburden, adding soil amendments to support vegetative growth, and implementing erosion protection measures to protect the soil cover until vegetation is established.

20.5.1 Financial Assurance

As defined in the *Mining Act*, a lessee shall provide financial assurance as part of Rehabilitation and Closure Plan prior to site development. The cost for implementing mine closure is estimated to be C$96.1 million, and assumes third party costs, no resale of scrap values, and that all materials will be treated as waste. Certain items, such as mobile equipment, may in fact have residual resale value. GGM has proposed a phased approach for the provision of Financial Assurance in a manner commensurate with the development of the Mine based on the development stages of the mine that would require rehabilitation.

20.6 Environmental Liabilities and Issues

The environmental liabilities are primarily associated with the historical mining activities and industrial land usage of the site, including:

&nbsp;&nbsp;&nbsp;&nbsp;· Underground mine voids present within the open pit;

&nbsp;&nbsp;&nbsp;&nbsp;· Groundwater discharges from underground workings to the receiving environment;

&nbsp;&nbsp;&nbsp;&nbsp;· Historical tailings from the historical MacLeod and Hardrock operations; and

&nbsp;&nbsp;&nbsp;&nbsp;· Soil contamination from historical mining areas and two legacy gas stations.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

The mitigation of the historical environmental effects is integrated into the Mine plan and includes, but are not limited to the following activities:

&nbsp;&nbsp;&nbsp;&nbsp;· Dewatering of historical underground workings to mitigate discharges to the receiving environment.

&nbsp;&nbsp;&nbsp;&nbsp;· Seepage collection and treatment from the portion of the MacLeod tailings located outside of the PDA.

&nbsp;&nbsp;&nbsp;&nbsp;· Excavation of historical tailings as required with disposal in the operational TMF. To date, 3.9 Mt of tailings have been relocated; and,

&nbsp;&nbsp;&nbsp;&nbsp;· Thermal desorption remediation of 55,000 t of hydrocarbon and PCB-impacted soils.

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| 20-19 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

21.0 Capital and Operating Costs

21.1 Capital Cost Estimates

Capital costs were estimated for the life of mine based on a mixture of quotes, first principal estimates, and operational information.

The non-sustaining capital cost is shown in Table 21-1 and is estimated to be $80.3 million for the LOM operating period.

#### Table 21-1: Non-Sustaining Capital Cost LOM Summary

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|:---|:---|
| **Capital Cost—Non-Sustaining** | **Total Cost ($ million)** |
| Building and Infrastructure | 36.6 |
| Project Carryover | 40.4 |
| Capitalized Development | 3.4 |
| **Total Cost** | **80.3** |

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Major items included in the non-sustaining capital include the relocation cost of the OPP station, rehabilitation work for the Gold Field Creek diversion and the HPGR rebuild facility.

Table 21-2 presents the sustaining capital cost, estimated to be $1,319.4 million for the LOM operating period.

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| 21-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 21-2: Sustaining Capital Cost LOM Summary

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| | |
|:---|:---|
| **Capital Cost—Sustaining** | **Total Cost ($ million)** |
| Buildings and Infrastructure | 140.2 |
| Hardware/Software | 1.5 |
| Machinery and Equipment | 48.3 |
| Major Capital Repairs | 378.6 |
| Tailings Management Facility | 461.7 |
| Fleet Purchase | 92.3 |
| Capitalized stripping | 196.8 |
| **Total Cost** | **1319.4** |

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Major items included in the sustaining capital include major capital repairs for the mining fleet, TMF expansions, shear key construction for the waste dump storage areas, new mining fleet equipment purchases, capitalized stripping, and strategic spares for the processing plant.

21.2 Operating Cost Estimates

21.2.1 Operating Costs Summary

Operating costs are summarized in Table 21-3. The operating costs include mining, processing and G&A. The average operating cost is $1,325/oz Au or $32.20/t milled over the LOM operating period.

#### Table 21-3: Operating Costs Summary

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| | |
|:---|:---|
| **Category** | **Total Costs ($ million)** |
| Mining | 2485 |
| Processing | 2188 |
| G&A | 1107 |
| **Total Operating Costs** | **5781** |

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The mine operating costs are estimated from operational historical information, budget costs and first principles. Equipment hours required to meet production needs of the LOM plan were based on productivity factors or equipment simulations. Each major piece of mining equipment has an hourly operating cost which includes operating and maintenance labour, fuel and lube, maintenance parts, tires and ground engaging tools.

The processing operating costs are estimated from operational historical information and budget costs. The processing costs include workforce, electrical power, wear parts, maintenance parts, grinding media, reagents including water treatment plant, metallurgical and geochemical laboratories, and mill general.

The power cost of site-generated power was derived from three major components: forecasted energy price (natural gas), workforce required to operate and maintain the power plant and maintenance costs over the LOM. The processing plant electrical power requirements are based on the electrical demands specified in the equipment load lists, which considers the installed power, the utilization factor, the mechanical load factor and the process availability.

The annual G&A cost is estimated from historical information and personnel requirements projected over the life of mine.

21.2.2 Operations Workforce

The operations workforce is made up of three departments:

1 Mine, including mine operations, geology, engineering, and maintenance

2 Process and power plant

3 G&A, including human resources, environment, health and safety, site services, and accounting.

The peak total operating workforce is 955 employees, as shown in Table 21-4.

#### Table 21-4: Peak Operations Workforce

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| | |
|:---|:---|
| **Operations Department** | **Peak Workforce** |
| Mine | 613 |
| Process Plant | 201 |
| G&A | 125 |
| **Total Number of Employees** | **955** |

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| 21-2 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

22.0 Economic Analysis

This section is not required as Equinox Gold is a producing issuer, the GGM is currently in operation, and a material expansion is not included in the current Greenstone LOM Plan.

Equinox has performed an economic analysis using the Mineral Reserves and LOM Plan presented in this Technical Report and confirms the outcome is a positive cash flow that supports the statement of Mineral Reserves.

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| 22-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

23.0 Adjacent Properties

Equinox maintains a significant land position in the Beardmore-Geraldton mining camp, where most of the camp's historically explored and exploited mineral deposits are located within the boundaries of the Greenstone Mine and Beardmore project areas.

Numerous claims in the vicinity of the Greenstone Gold Property are held by a wide variety of prospectors, junior exploration, and senior, globally producing organizations (Figure 23-1).

#### Figure 23-1: Adjacent Properties to Greenstone Gold Mine Claims

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| 23-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

24.0 Other Relevant Data and Information

There is potential for an underground mine adjacent to the open pit that will be evaluated in the future.

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| 24-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

25.0 Interpretation and Conclusions

25.1 Conclusions

A summary of the LOM results for the Greenstone Mine is presented in Table 25-1.

#### Table 25-1: Greenstone Mine LOM Values

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| | | |
|:---|:---|:---|
| **Description** | **Unit** | **Values** |
| Gold Price | $/oz | 2100 |
| Exchange Rate | CAD/USD | 1.33 |
| Mine Life | operation years | 14 |
| Strip Ratio | W:O | 4.4:1 |
| Processing Rate | kt/d | 27.0 |
| Average Processed Grade | g/t Au | 0.93 |
| Average Gold Recovery | % | 86.4 |
| Annual Average Gold Production (2026–2036) | koz | 320 |
| Total Recovered Gold | koz | 4609 |

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The principal conclusions by area are detailed below.

25.1.1 Geology and Mineral Resources

#### Greenstone Mine
&nbsp;&nbsp;&nbsp;&nbsp;· The in-pit Measured and Indicated Mineral Resources are estimated to be 32.49 Mt at an average grade of 1.28 g/t Au for 1,335 koz of contained gold, exclusive of Mineral Reserves. In-pit Inferred Mineral Resources are estimated to be 14.85 Mt at an average grade 0.88 g/t Au for 418 koz of gold, exclusive of Mineral Reserves. The exclusive underground Indicated Mineral Resource is stated at 21.48 Mt at an average grade of 2.36 g/t Au, for 1,631 koz of contained gold, and exclusive Inferred Mineral Resources of 16.33 Mt at an average grade of 2.37 g/t Au, for 1,245 koz of contained gold.

#### Brookbank, Key Lake and Kailey
&nbsp;&nbsp;&nbsp;&nbsp;· The Brookbank deposit consists of in-pit Indicated Mineral Resources of 7.19 Mt at an average grade of 1.88 g/t Au, for 434 koz of gold, and Inferred Mineral Resources of 0.15 Mt at an average grade of 0.69 g/t Au, for 3 koz of gold. The underground Indicated Mineral Resource is stated at 1.86 Mt at an average grade of 4.67 g/t Au, for 279 koz of contained gold, and Inferred Mineral Resources of 1.34 Mt at an average grade of 2.55 g/t Au, for 110 koz of contained gold.

&nbsp;&nbsp;&nbsp;&nbsp;· The Key Lake deposit consists of in-pit Indicated Mineral Resources of 7.74 Mt at an average grade of 0.82 g/t Au, for 205 koz of contained gold, and Inferred Mineral Resources of 4.9 Mt at an average grade of 0.82 g/t Au, for 158 koz of contained gold. No underground Mineral Resources are reported at Key Lake.

&nbsp;&nbsp;&nbsp;&nbsp;· The Kailey deposit consists of in-pit Indicated Mineral Resources of 12.04 Mt at an average grade of 0.60 g/t Au for 231 koz of contained gold and Inferred Mineral Resources of 7.76 Mt at an average grade of 0.55 g/t Au for 138 koz of contained gold. No underground Mineral Resources are reported at Kailey.

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| 25-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

25.1.2 Mining and Mineral Reserves

&nbsp;&nbsp;&nbsp;&nbsp;· The Proven and Probable Mineral Reserves total 179.3 Mt at an average grade of 0.93 g/t Au, for 5,334 koz of contained gold.

&nbsp;&nbsp;&nbsp;&nbsp;· The mining activities will occur over a period of 14-years, followed by 4.25 years of stockpile reclaim.

&nbsp;&nbsp;&nbsp;&nbsp;· The open pit will generate 739 Mt of overburden and waste rock (inclusive of historical tailings and underground backfill), for a strip ratio of 4.4:1.

25.1.3 Metallurgical Testing and Mineral Processing

&nbsp;&nbsp;&nbsp;&nbsp;· The process plant consists of a crushing circuit; HPGR and twin ball mill grinding circuit; pre-leach thickening, cyanide leaching; CIP circuit; carbon elution and regeneration; electrowinning and gold refining; cyanide destruction and tailings disposal.

&nbsp;&nbsp;&nbsp;&nbsp;· The process plant was designed to treat 27,000 t/d ore and achieved first gold in May 2024. The plant was ramped up to commercial production in November 2024 and continues to operate.

&nbsp;&nbsp;&nbsp;&nbsp;· The plant design was based on extensive metallurgical test work, conventional flowsheet to treat gold bearing ore and industry practices.

&nbsp;&nbsp;&nbsp;&nbsp;· The overall gold recovery is based on residue gold grade algorithms based on 2025 operating data and is a function of gold, arsenic and sulphur feed grades to the plant.

25.1.4 Infrastructure

&nbsp;&nbsp;&nbsp;&nbsp;· Power is generated onsite at a natural gas-fired power plant, with a designed capacity of 48 MW.

&nbsp;&nbsp;&nbsp;&nbsp;· As with the other main infrastructure, the administration building, truck shop, reagent storage and explosives plant have been sized to support the mine and process operation.

&nbsp;&nbsp;&nbsp;&nbsp;· The seepage collection system and mine-site collection ponds have been sized to handle normal flows with surface capacity for containing a 100-year return flood without discharge to the environment.

&nbsp;&nbsp;&nbsp;&nbsp;· Goldfield Creek has been permanently diverted from the TMF to the northeast and, ultimately, to Kenogamisis Lake. The diversion dyke required for the creek diversion was designed in accordance with CDA and LRIA guidelines.

&nbsp;&nbsp;&nbsp;&nbsp;· During the 2023 spring freshet, significant erosion of the lower portion of the realigned GFC diversion channel occurred, resulting in the transport and deposition of sediment downstream of the constructed channel. Subsequently, a bypass channel was constructed in 2024 to bypass flow around the eroded diversion channel while the realigned channel is redesigned and remediated. The bypass channel is currently regarded as a temporary feature to remain in active service until the Goldfield Creek diversion has been restored, vegetated, and considered stable to receive flow.

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| 25-2 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;· The TMF has been designed in accordance with LRIA and CDA guidelines. The stability of the dams meets the target factors of safety required as per CDA. Tailings deposition plans have been developed to establish wide tailings beaches adjacent to the rockfill containment dams and to maintain the water pond against natural ground and away from the dams.

&nbsp;&nbsp;&nbsp;&nbsp;· Because of the presence of GL Silt in the foundation of most of the TMF dams, the Stage 3 dam raise and the subsequent dam raises will require ground improvement measures to maintain the target factors of safety. These measures are expected to include larger downstream stability berms, a foundation shear key for the Southwest Dam, and DSM ground improvement for the West Dam.

&nbsp;&nbsp;&nbsp;&nbsp;· With the increase of required tailings storage capacity beyond the current design capacity of the TMF, engineering concepts for possible TMF expansion opportunities or construction of a new TMF are underway.

&nbsp;&nbsp;&nbsp;&nbsp;· Any seepage and runoff water from the TMF is pumped back into the TMF reservoir.

&nbsp;&nbsp;&nbsp;&nbsp;· Natural foundations containing GL Silt that underlay waste rock storage area expansions may require the installation of shear keys in certain areas to obtain the target downstream Factors of Safety for the presumed post-liquefaction condition.

25.1.5 Environmental Considerations

&nbsp;&nbsp;&nbsp;&nbsp;· Permits required for construction and early operation of the Mine have been obtained and regulatory requirements of permits have been implemented, as appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;· EMMPs have been implemented to address compliance and EIS/EA monitoring for all phases of the Mine. The collective monitoring activities associated with the Mine are used to inform adaptive management as required. The management and monitoring requirements have been incorporated into Mine plans and budgets.

&nbsp;&nbsp;&nbsp;&nbsp;· Mitigation measures for the Goldfield Creek diversion channel have been implemented to de-risk potential additional erosion of the channel as redesign and rehabilitation of the channel continues.

&nbsp;&nbsp;&nbsp;&nbsp;· Active consultation with stakeholders (community members, agencies and interested parties) and Indigenous communities has continued into operation of the Mine.

&nbsp;&nbsp;&nbsp;&nbsp;· GGM has established Long Term Relationship Agreements with the five local Indigenous communities. The agreements establish increased clarity regarding GGM's ability to develop the Mine and the Indigenous communities' opportunity to benefit from future mining opportunities in the region, including the potential to extend the life of the Mine.

&nbsp;&nbsp;&nbsp;&nbsp;· The Mine Closure Plan indicates that there is a potential deficit in overburden and topsoil media required for the purpose of closing the Mine.

25.1.6 Capital and Operating Costs

&nbsp;&nbsp;&nbsp;&nbsp;· The non-sustaining capital cost is estimated to be $80.3 million for the LOM operating period. The main cost item include the relocation cost of the Ontario Provincial Police station.

&nbsp;&nbsp;&nbsp;&nbsp;· The sustaining capital cost is estimated to be $1,319.4 million for the LOM operating period. The main cost items include major capital repairs for the mining fleet, TMF expansions, new mining fleet equipment purchases, capitalized stripping, and strategic spares for the processing plant.

&nbsp;&nbsp;&nbsp;&nbsp;· The average operating cost is $1,325/oz Au or $32.20/t milled over the LOM operating period. The operating costs include mining, processing, and G&A.

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| 25-3 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

25.2 Risks and Opportunities

25.2.1 Risks

The following is a discussion of the key risks for the Mine with summaries of the related controls and risk mitigation strategies.

#### Gold Production
Arsenic and sulphur models have been created, and the results are available for each ore block within the block model to estimate the expected gold recovery from a multivariable regression analysis based on grind size, arsenic, sulphur, and gold head grades. The metallurgical regression analysis was based on the metallurgical testwork results obtained. During operations, ongoing optimization of the metallurgical performance will be carried out via leach test work, and throughput versus grind-size trade-offs will be evaluated on a regular basis in conjunction with anticipated gains from the HPGR circuit due to microcracking.

#### Permitting
GGM has developed a comprehensive integrated permitting schedule in coordination with all departments so that permitting requirements can be actioned in a prioritized basis. To facilitate the approval timeframes, consultation with Indigenous communities and agencies is undertaken on key permit applications prior to submission. There is still a risk of permit approval delays to be encountered based on observed approval timelines for permit applications submitted since the Mine commenced operations, but these delays are factored into the integrated permitting schedule so that operational risks can be mitigated whenever possible.

#### Tailings Management Facility
Risks identified in relation to the TMF are reviewed for all phases, including design, permitting, construction, and operations. The TMF design is based on significant geotechnical drilling and hydrogeological fieldwork. Periodic bathymetric surveys of the supernatant pond and the tailings beaches are performed to compare to the tailings deposition plan and to make adjustments to the future dam raise construction as required. A water balance has been developed for the TMF and is coupled with the tailings deposition plan to inform the timing of the TMF dam raises.

WSP and GGM carried out an operational risk assessment specific to dam safety aspects in 2025. Annual dam safety reviews have been performed by WSP's EoR after substantial completion of construction of each dam raise. Formal monthly dam inspections are conducted by Equinox's RTFE. An ITRB was established to provide oversight during the lifecycle of the TMF; this oversight is an on-going process.

A detailed Tailings Facility Construction Management Plan, including a QA/QC program, has been implemented for construction for current and future expansions of the TMF. An OMS Manual following the guidelines of the Mining Association of Canada has been put in place for the TMF.

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| 25-4 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Pit Wall Stability
A comprehensive pit slope management program is in place by the Mine's geotechnical engineering department to manage risks attributable to potential movement of the exposed rock faces. Rock mass failure is considered a low risk due to the high overall rock mass strength. Design elements have included a temporary wall-slope profile that allows for wider catch benches to manage overbank hazards. The final design of the pit will evolve through the mine life, considering information collected during the interim pit phases. Slope movement monitoring is also planned.

#### Stability of Historical Tailings
Attention to mining practices when mining proximal to the historical tailings have been implemented, especially focusing on controlling vibrations attributable to blasting activities. A monitoring program has been completed that demonstrates controlled open pit blasting should not induce porewater pressures or cause slope instability in the adjacent historical tailings deposits. Emphasis is placed on minimizing exposure of excavated tailings slopes. Rockfill will continue to be installed on the slopes following the advancement of the excavation.

#### Waste Dump Stability
Knowledge acquired from the design and construction of the TMF where the naturally occurring GL Silt was encountered within the dam foundations has been applied to the waste rock storage areas to plan for geotechnical foundation investigation programs to identify and characterize the GL Silt and delineate its extents within the waste dump foundations.

#### Water Management
The Mine is bordered on three sides by lakes and is crosscut by small streams. There are several risks associated with the use and discharge of water during operations and closure. These risks and associated treatment plans are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;· The risk of unacceptable contaminants such as arsenic seeping from the TMF, historical tailings, and waste rock storage areas has been mitigated with the installation of seepage collection ditches and collection ponds that allow for water to be collected and recycled to the process plant during operations to ensure the required water quality objectives are met. Monitoring programs are in place in order to validate the mitigation measures.

&nbsp;&nbsp;&nbsp;&nbsp;· The risk of water ingress into the open pit is manageable based on historically low dewatering rates from the low permeability of the host rock. Pit dewatering will be maintained at a minimum of 20 m below the lowest mining bench elevation.

&nbsp;&nbsp;&nbsp;&nbsp;· The process plant relies on water collected from the historical underground workings, the open pit, and surface drainage as its main source of fresh water, which, given the overall requirement to discharge water from the permanent effluent treatment plant, should not pose a risk of a water deficit.

&nbsp;&nbsp;&nbsp;&nbsp;· The treated water from the effluent treatment plant is required to meet certain water-discharge criteria established for the Mine, which includes ammonia. An ammonia treatment option has been designed and permitted for the water treatment plant and will be implemented if ammonia concentrations within the pit (from explosives use) reach the given trigger threshold as defined in the permit.

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| 25-5 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

25.2.2 Opportunities

Several potential opportunities exist to further improve the overall economics and sustainability of the Mine.

#### Revenue-Related Potential Opportunities
&nbsp;&nbsp;&nbsp;&nbsp;· Use of the Mine's process plant and TMF for ore processing from other GGM properties including the Greenstone underground resource and the regional exploration projects.

&nbsp;&nbsp;&nbsp;&nbsp;· Increasing input to the permitted 30,000 t/d from the current 27,000 t/d.

&nbsp;&nbsp;&nbsp;&nbsp;· Connecting the natural gas power plant to the provincial electrical grid to either sell spare energy during shutdowns when excess generating capacity is available or to provide electrical stability to the grid.

&nbsp;&nbsp;&nbsp;&nbsp;· Study the potential to economically remove magnetite from the tailings and produce a concentrate product for sale.

&nbsp;&nbsp;&nbsp;&nbsp;· Study the potential to economically reprocess historical tailings from the Mine's property and other nearby Equinox properties.

&nbsp;&nbsp;&nbsp;&nbsp;· There is significant resource growth and discovery opportunity, such as open-pit expansion to the west, incorporating the underground deposit, and the regional potential.

#### OPEX-Related Potential Opportunities
&nbsp;&nbsp;&nbsp;&nbsp;· The potential to blend liquid natural gas and diesel as a fuel source for the mine haul trucks. Currently, the mine fleet only uses diesel.

&nbsp;&nbsp;&nbsp;&nbsp;· The use of new, commercially available technologies (i.e., autonomous haulage) to increase operational effectiveness and reduce costs.

&nbsp;&nbsp;&nbsp;&nbsp;· Optimizing the existing remote-assisted drilling to achieve additional labour productivity improvements.

#### CAPEX-Related Potential Opportunities
&nbsp;&nbsp;&nbsp;&nbsp;· Evaluation of used equipment with low usage to reduce capital costs.

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| 25-6 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

26.0 Recommendations

The QPs offer the following recommendations by area:

26.1 Quality Control and Quality Assessment Recommendations

1 Discontinue the use of marble as a source for quality control blank material and instead use a more siliceous material. This will not incur any additional cost, as the recommended alternative has the same unit cost as the current material.

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| 2 | Maintain a routine, statistically robust check assay program for RC grade control drilling with an ISO 17025-accredited laboratory and summarize results in future reports. The proposed cost for this work is approximately $45 k. |

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3 Include RPD versus Average Grade control charts as part of routine analysis of duplicate pair sampling. This will not incur additional cost.

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| 4 | Report results of Company QA/QC programs on a routine basis (e.g., quarterly) for all sample sources informing the Mineral Resource estimate. Proposed costs for fully automation of control charts are approximately $20 k. |

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26.2 Exploration Recommendations

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| 1 | Undertake further Mineral Resource definition drilling at Kailey, targeting the No. 9 Zone near the surface to convert existing Inferred to Indicated Mineral Resources and to discover new gold-bearing zones in the existing pit shell ($0.8 million). |

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| 2 | Undertake metallurgical testwork for the Kailey deposit to confirm metallurgical recoveries assumed in the Mineral Resource estimate ($0.25 million). |

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| 3 | Resample the historical drill core at Key Lake to increase the overall sample coverage and overcome the effects of previous under-sampling ($0.2 million). |

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26.3 Geotechnical Recommendations for Mining and Infrastructure

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| 1 | Conduct additional pit-slope geotechnical work, such as detailed review of variation in structural-fabric orientation to identify possible localized sub-domains with stronger controls on achievable bench-face angles and conduct sensitivity analyses on slope saturation and lower effective shear strength. Conduct additional laboratory testing (i.e. triaxial testing) and intact shear strength of foliation. The budget is estimated at $0.4 million. |

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| 2 | For construction of the TMF Stage 3 dam raise, ground improvement measures should be performed to obtain the target downstream Factors of Safety for the presumed post-liquefaction condition. The ground improvement measures will include construction of a shear key for the Southwest Dam and deep soil mixing (DSM) for the West Dam. The proposed budget for each of these construction works is estimated to be $50 million and $20 million, respectively. |

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| 3 | Perform geotechnical foundation investigation programs, including drilling and test pitting, to determine the extent of the GL Silt deposit within the footprints and engineering designs will be performed to assess the need for foundation improvements, such as shear keys. The proposed budget for these investigation programs is estimated to be $4 million. The cost of construction of the recommended foundation improvements, as required, will be determined once engineering is completed. |

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| 4 | To address the shortfall of tailings storage capacity in the current design of the TMF for the LOM, evaluate concepts such as expansion of the current TMF via additional dam raises, construction of a new TMF, and/or a cyclone tailings stockpile. A multiple accounts analysis should be conducted to determine which concept is most appropriate. The proposed budget for this analysis is estimated to be $0.5 million. Once a concept is selected, a geotechnical foundation investigation program should be planned and conducted to determine the suitability of the proposed alternative. The proposed budget for this program, along with engineering and geotechnical laboratory testing, may range between $3 million to $5 million. The cost of construction of the preferred concept will be determined once engineering is completed. |

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| 26-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

26.4 Mineral Processing and Metallurgical Testing Recommendations

1 For continued plant optimization, complete a metallurgical test work program to further understand the metallurgical response of various ore types and head grades via the existing plant flowsheet, such as:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Sample characterization: Head analyses including duplicate gold by fire assay, arsenic by XRF and total sulphur and carbon by Leco analysis

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Mineralogy: Mineralogical characterization via microscopic and submicroscopic gold deportment studies

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Cyanidation test work: Standard bottle roll tests to assess the effect of grind size, pulp density, pre- aeration (dissolved oxygen range), pH range and cyanide dosage

The proposed budget for the metallurgical test work program is $180k.

26.5 Mining Engineering Recommendations

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| 1 | Evaluate the potential for starting an underground mine to increase ounces production or lengthen the mine life ($300k) |

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26.6 Environmental Recommendations

There are a number of recommendations related to ensuring that closure cost estimates can accurately reflect the costs at the end of the mine life.

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| 1 | The Mine Closure Plan indicates that there is a potential deficit in overburden and topsoil media required for the purpose of closing the Mine. It is recommended that the Mine incorporate better soil salvage practices into the Mine Plan in order to reduce the soil deficit as these materials would be required to be imported to the site based on the current closure prescriptions. This cost cannot be estimated as the stripping volumes and stockpile locations for each source are not available. |

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| 2 | It is recommended that the Mine implement reclamation research programs to allow for optimization of the Mine Closure Plan which is considered to be conceptual at this time. The conceptual level of the Closure Plan is typical for mines at the beginning of their operational phase and is not seen as a risk to operations provided research on closure designs are advanced. The estimated cost of these programs over the life of mine is estimated to $250k. |

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| 26-2 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

26.7 Mineral Resources Recommendations

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| 3 | Sample previously unsampled sections of available historical core to improve lithologic and mineralization continuity understanding and improve local grade estimations. The estimated cost of the resampling is $0.3 million. |

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| 4 | Drill spacing increases at depth, reducing the confidence of the local accuracy of the model. Decrease the drill spacing at depth prior to reaching those depths with the pit development. Additional drilling would cost approximately $8 million. |

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| 5 | Assays of the elements As, S, Fe, and C are sparce throughout the deposit. Assay these elements more thoroughly throughout the deposit and include them in all Au assay analyses in the future to better understand their distribution and reduce risks with mill recoveries and/or PAG/NAG classifications. Additional assaying would cost approximately $5 million. |

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|:---|:---|
| 6 | One of the major 2 fold hinges of the north zone iron formation has had significant historical mining. The continuity of the mineralization in the area around and below the hinge shows signs of following both 2 folds and d3 axial planar features. Develop a drilling campaign to target below the significant historical voids and focus on determining the full nature and continuity of the mineralization of the area. This program would cost approximately $3 million. |

---

A summary of the costs associated with each recommendation is presented in Table 26-1.

#### Table 26-1: Combined Cost estimate of Recommendations

---

| | |
|:---|:---|
| **Activity** | **Cost<br> ($ million)** |
| Expansion Drilling at Kailey | 0.80 |
| Metallurgical Testwork at Kailey | 0.25 |
| Resampling of Drill Core at Key Lake | 0.20 |
| Slope Analysis | 0.40 |
| Shear Keys | 70.00 |
| Waste Dumps Foundation Investigation | 0.40 |
| TMF Additional Storage Capacity Investigation | 3.00 to 5.00 |
| Metallurgical Test Work Program | 0.20 |
| UG Mine Potential | 0.30 |
| Mine Closure Cost Optimization | 0.25 |
| Resampling of Historical Core | 0.30 |
| Additional Drilling | 8.00 |
| Assays | 5.00 |
| North Zone Drilling | 3.00 |
| **Total** | **92.10 to 94.10** |

---

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| | |
|:---|:---|
| 26-3 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

27.0 References

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Jenson, K.A. 2009. Report on the Assay Results of Mining Claim 1246091 McBean Lake Area Thunder Bay Mining Division Nipigon District Ontario. Prepared for Mr. Robert Laird, P.Eng. AFRI File: 20000004229.

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Mason, J. K. and White, G. K. 1996. Beardmore-Geraldton Resident Geologist's District 1995. In C. L. Baker, J. A. Fyon, D. G. Laderoute, & J. W. Newsome (Eds.), Report of Activities 1995 Resident Geologists (Open File Report 5943, pp. 3–23). Ontario Geological Survey.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

Robert, F., Brommecker, R., Bourne, B.T., Dobak, P.J., McEwan, C.J., Rowe, R.R., Zhou, X. 2007. Models and Exploration Methods for Major Gold Deposit Types; in "Proceedings of Exploration 07: Fifth Decennial International Conference on Mineral Exploration", Paper 48, edited by B. Milkereit, 2007, p. 691-711.

Robert, F., & Poulsen, K. H. 2001. Vein formation and deformation in greenstone gold deposits. In J. P. Richards, & R. M. Tosdal (Eds.), Structural Controls on Ore Genesis (Reviews in Economic Geology, v. 14, pp. 111-155). Society of Economic Geologists.

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Tomlinson, K.Y., Hall, R.P., Hughes, D.J., Thurston, P.C. 1996. Geochemistry and assemblage accretion of metavolcanic rocks in the Beardmore-Geraldton greenstone belt, Superior Province. Canadian Journal of Earth Sciences (vol. 33(11): pp 1520-1533).

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

28.0 Date and Signature Date

This report titled "NI 43-101 Technical Report, Greenstone Property, Ontario, Canada" with an effective date of December 31, 2025 was prepared and signed by the following authors:

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| | |
|:---|:---|
|  | **(Signed & Sealed) *Kelly Boychuk*** |
| Dated at Vancouver, BC | Kelly Boychuk, P.Eng., MBA |
| March 30, 2026 |  |
|  | **(Signed & Sealed) *Scott Davidson*** |
| Dated at Vancouver, BC | Scott Davidson, M.Sc., P.Geo. |
| March 30, 2026 |  |
|  | **(Signed & Sealed) *Niel de Bruin*** |
| Dated at Vancouver, BC | Niel de Bruin, P.Geo. |
| March 30, 2026 |  |
|  | **(Signed & Sealed) *Philippe Lebleu*** |
| Dated at Vancouver, BC | Philippe Lebleu, P.Eng. |
| March 30, 2026 |  |
|  | **(Signed & Sealed) *Neil Lincoln*** |
| Dated at Ottawa, ON | Neil Lincoln, P.Eng. |
| March 30, 2026 |  |
|  | **(Signed & Sealed) *Alexander Thompson*** |
| Dated at Vancouver, BC | Alexander Thompson, P.Geo. |
| March 30, 2026 |  |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

29.0 Certificate of Qualified Person

29.1 Kelly Boychuk

I, Kelly Boychuk, P.Eng. MBA, as an author of this report entitled "NI 43-101 Technical Report, Greenstone Property, Ontario, Canada" with an effective date of December 31, 2025 prepared for Equinox Gold Corp., do hereby certify that:

1. I am currently employed as SVP of Mining Infrastructure with Equinox Gold Corp. with an office at 700 West Pender Street, Suite 1501, Vancouver, B.C. V6C 1G8.

2. I am a graduate of the University of British Columbia with both a Bachelor of Applied Science (Geological Engineering) and a Master of Business Administration.

3. I am a registered member in good standing with Engineers and Geoscientists British Columbia (License # 20272). I have worked as a Geotechnical Engineer for a total of 35 years and primarily in the mining industry.

4. I have read the definition of "qualified person" set out in National Instrument 43-101 (NI 43 101) and certify that by reason of my education, affiliation with a professional association (as defined in NI 43 101) and past relevant work experience, I fulfill the requirements to be a "qualified person" for the purposes of NI 43-101.

5. I last visited the Greenstone Mine on October 22 and 23, 2025.

6. I am responsible for Sections 12.5, 18, and 26.3 of the Technical Report.

7. I am not independent of the Issuer.

8. I have had prior involvement with the property that is the subject of the Technical Report.

9. I have read NI 43-101, and the Technical Report has been prepared in compliance with NI 43-101 and Form 43-101F1.

10. As of the effective date of the Technical Report and the date of this certificate, to the best of my knowledge, information and belief, this Technical Report contains all scientific and technical information that is required to be disclosed to make the Technical Report not misleading.

Dated 30th day of March, 2026,

(Signed) *Kelly Boychuk*

#### Kelly Boychuk, P.Eng., MBA

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

29.2 Scott Davidson

I, Scott Davidson, M.Sc., P.Geo., as an author of this report entitled "NI 43-101 Technical Report, Greenstone Property, Ontario, Canada" with an effective date of December 31, 2025 prepared for Equinox Gold Corp., do hereby certify that:

1. I am employed as the Director Environmental Permitting & Compliance for Equinox Gold – Unit 1501 700 West Pender Street, Vancouver, BC, V6C 1G8.

2. I graduated with a M.Sc. in Geomorphology from the University of British Columbia, located in Vancouver, British Columbia, in 1998.

3. I am and have been registered as a Professional Geoscientist with Engineers and Geoscientists British Columbia ("EGBC"; Membership Number 23774) since 1998.

4. I have practiced my profession as an environmental professional for 27 years since graduating in 1998 and have worked in the Mining Industry for over 25 years focused on environmental management involving permitting, operational integration, environmental compliance, management systems, mine closure, geochemistry, water quality and hydrology.

5. I have read the definition of "Qualified Person" set out in the National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) and certify that by reason of my education, affiliation with a professional association and past relevant work experience, I fulfill the requirements to be a Qualified Person for the purpose of NI 43-101 and those sections of the Technical Report that I am responsible for.

6. My most recent site visit to the Greenstone Gold Mine took place from November 13 to 21, 2025.

7. I am responsible for Sections 12.4, 20 and 26.6 of the Technical Report.

8. I am not independent of Equinox Gold as independence is defined in Section 1.5 of NI 43-101. I am an employee of Equinox Gold.

9. I have read NI 43-101 and the section of the Technical Report for which I am responsible have been prepared in compliance with that Instrument. As of the effective date of the Technical Report, and to the best of my knowledge, information and belief, the sections of the Technical Report for which I am responsible contain all relevant scientific and technical information that is required to be disclosed to make those sections of the Technical Report not misleading.

Dated 30th day of March, 2026,

(Signed) *Scott Davidson*

#### Scott Davidson, M.Sc., P.Geo.

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

29.3 Niel de Bruin

I, Niel de Bruin, P.Geo, as an author of this report entitled "NI 43-101 Technical Report, Greenstone Property, Ontario, Canada" with an effective date of December 31, 2025 prepared for Equinox Gold Corp., do hereby certify that:

1. I am currently employed as Vice President of Mineral Resources – Canada, U.S., Nicaragua and Mexico with Equinox Gold Corp., with an office at 700 W Pender St #1501, Vancouver, BC V6C 1G8.

2. I am a graduate of the University of Free State with a Master of Science degree in Mineral Resource Management.

3. I am a registered member in good standing with Professional Geoscientists Ontario (License #2449). I have worked as a Geologist for a total of 27 years and have relevant experience in open pit and underground mining of gold, mineral resource estimation, exploration management, QA/QC programs, and grade control.

4. I have read the definition of "qualified person" set out in National Instrument 43-101 (NI 43- 101) and certify that by reason of my education, affiliation with a professional association (as defined in NI 43- 101) and past relevant work experience, I fulfill the requirements to be a "qualified person" for the purposes of NI 43-101.

5. I last visited the Greenstone Mine from September 10 to 14, 2025.

6. I am responsible for Sections 12.1, 14, 26.1, and 26.7 of the Technical Report.

7. I am not independent of Equinox Gold as independence is defined in Section 1.5 of NI 43-101. I am an employee of Equinox Gold.

8. I have read NI 43-101, and the Technical Report has been prepared in compliance with NI 43-101 and Form 43-101F1.

9. As of the effective date of the Technical Report and the date of this certificate, to the best of my knowledge, information and belief, this Technical Report contains all scientific and technical information that is required to be disclosed to make the Technical Report not misleading.

Dated 30th day of March, 2026,

(Signed) *Niel de Bruin*

#### Niel de Bruin, P.Geo.

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| 29-3 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

29.4 Philippe Lebleu, P.Eng.

I, Philippe Lebleu, P.Eng., as an author of this report entitled "NI 43-101 Technical Report, Greenstone Property, Ontario, Canada" with an effective date of December 31, 2025 prepared for Equinox Gold Corp., do hereby certify that:

1. I am currently employed as SVP of Technical Services with Equinox Gold Corp. with an office at 700 W Pender St #1501, Vancouver, BC V6C 1G8.

2. I am a graduate of the Royal School of Mines with a Master of Mining Engineering.

3. I am a registered member in good standing with Engineers and Geoscientists British Columbia (License #41544). I have worked as a Mining Engineer for a total of 25 years and have relevant experience in open pit and underground mining of gold, copper and iron ore, in mine planning, mine production, reserve estimation, technical reviews, feasibility and pre-feasibility studies, project and construction management and cost estimation.

4. I have read the definition of "qualified person" set out in National Instrument 43-101 (NI 43 101) and certify that by reason of my education, affiliation with a professional association (as defined in NI 43 101) and past relevant work experience, I fulfill the requirements to be a "qualified person" for the purposes of NI 43-101.

5. I last visited the Greenstone Mine from November 16 to 20, 2025.

6. I am responsible for Sections 1 to 3, 12.2, 15, 16, 19, 21, 22, 24, 25, 26.5, and 27 of the Technical Report.

7. I am not independent of the Issuer.

8. I have had prior involvement with the property that is the subject of the Technical Report.

9. I have read NI 43-101, and the Technical Report has been prepared in compliance with NI 43-101 and Form 43-101F1.

10. As of the effective date of the Technical Report and the date of this certificate, to the best of my knowledge, information and belief, this Technical Report contains all scientific and technical information that is required to be disclosed to make the Technical Report not misleading.

Dated 30th day of March, 2026,

(Signed) *Philippe Lebleu*

#### Philippe Leblue, P.Eng.

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|:---|:---|
| 29-4 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

29.5 Neil Lincoln

I, Neil Lincoln, P.Eng., as an author of this report entitled "NI 43-101 Technical Report, Greenstone Property, Ontario, Canada" with an effective date of December 31, 2025 prepared for Equinox Gold Corp., do hereby certify that:

1. I am an Independent Metallurgical Consultant located at 1565 Lords Manor Lane, Ottawa, Ontario, K4M 1K3, Canada.

2. I graduated from the University of the Witwatersrand, South Africa, in 1994 with a Bachelor of Science in Metallurgy and Materials Engineering (Minerals Process Engineering) degree.

3. I am a professional engineer in good standing with the Professional Engineers of Ontario (PEO) in Canada (no. 100039153).

I have practiced my profession in the mining industry continuously since graduation. I have over 30 years experience as a metallurgist and study manager. I have sufficient relevant experience having worked on numerous projects ranging from scoping studies, prefeasibility and feasibility studies to project implementation related to mineral processing plants. My mineral processing commodity and unit operations experience includes precious metals, base metals and industrial minerals covering metallurgical test work to process plant design. As a result of my experience and qualifications, I am a Qualified Person as defined in NI 43 101. Select recent gold projects include:

&nbsp;&nbsp;&nbsp;&nbsp;· Oko West Gold Project (Feasibility Study) for G Mining Ventures, Guyana

&nbsp;&nbsp;&nbsp;&nbsp;· Tocantinzinho Gold Project (Feasibility Study/Detailed Design) for G Mining Ventures, Brazil

&nbsp;&nbsp;&nbsp;&nbsp;· Cerro Blanco Gold Project (Feasibility Study) for Bluestone Resources, Guatemala

&nbsp;&nbsp;&nbsp;&nbsp;· Island Gold Phase 3 Expansion (Detailed Design) for Alamos Gold, Ontario, Canada

&nbsp;&nbsp;&nbsp;&nbsp;· Fruta del Norte Phase 2 Expansion (Detailed Design) for Lundin Gold, Ecuador

4. I have read the definition of "qualified person" set out in the National Instrument 43 101 ("NI 43 101") and certify that by reason of my education, affiliation with a professional association and past relevant work experience, I fulfil the requirements to be a qualified person for the purposes of NI 43 101.

5. I am responsible for Sections 12.3, 13, 17, and 26.4.

6. I have visited the Greenstone Process Plant, several times with the last visit during November 17 to 19, 2025.

7. As of the effective date of the Technical Report, to the best of my knowledge, information and belief, the sections and sub-sections of the Technical Report listed in item 6 above contain all scientific and technical information that is required to be disclosed to make these sections and sub-sections of the Technical Report not misleading.

8. I have read NI 43 101 and believe that the sections and sub-sections of the Technical Report listed in item 6 above have been prepared in accordance with NI 43 101.

9. I have read and understand NI 43-101, and I am considered independent of the issuer as defined in section 1.5 of NI 43 101 Rules and Policies.

Dated 30th day of March, 2026,

(Signed) *Neil Lincoln*

#### Neil Lincoln, P.Eng.

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|:---|:---|
| 29-5 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

29.6 Alexander Thompson

I, Alexander Thompson, P.Geo., as an author of this report entitled "NI 43-101 Technical Report, Greenstone Property, Ontario, Canada" with an effective date of December 31, 2025 prepared for Equinox Gold Corp., do hereby certify that:

1. I am currently employed as VP of Exploration – Canada, U.S. with Equinox Gold Corp. with an office at 700 W Pender St #1501, Vancouver, BC V6C 1G8.

2. I am a graduate of the University of Ottawa with an Honours Bachelor of Science in Geology.

3. I am a registered member in good standing with Professional Geoscientists Ontario (License #2597). I have worked as a Geologist for a total of 16 years and have relevant experience in open pit and underground mining of gold, exploration planning and management, structural geology, analytical QA/QC programs, grade control and resource estimation.

4. I have read the definition of "qualified person" set out in National Instrument 43-101 (NI 43 101) and certify that by reason of my education, affiliation with a professional association (as defined in NI 43 101) and past relevant work experience, I fulfill the requirements to be a "qualified person" for the purposes of NI 43-101.

5. I last visited the Greenstone Mine from November 18 to 20, 2025.

6. I am responsible for Sections 4 to 11, 23, and 26.2 of the Technical Report.

7. I am not independent of the Issuer.

8. I have had prior involvement with the property that is the subject of the Technical Report;

9. I have read NI 43-101, and the Technical Report has been prepared in compliance with NI 43-101 and Form 43-101F1.

10. As of the effective date of the Technical Report and the date of this certificate, to the best of my knowledge, information and belief, this Technical Report contains all scientific and technical information that is required to be disclosed to make the Technical Report not misleading.

Dated 30th day of March, 2026,

(Signed) *Alexander Thompson*

#### Alexander Thompson, P.Geo.

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| 29-6 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

30.0 Appendix

#### Table 30-1: List of Hardrock (Kenogamisis) Property Patents, Leases and Mining Licenses of Occupation

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Tenure Number** | **Tenure Type** | **Anniversary** | **Owner** | **Area** | **Annual Rent/Tax** | **Royalty** |
| LEA-108819 | Lease | 30-Apr-32 | GGM GP INC - 100% | 50.64 | $151.93 | Griffin Mining 1% NSR |
| LEA-108820 | Lease | 30-Apr-32 | GGM GP INC - 100% | 10 | $29.99 | Griffin Mining 1% NSR |
| LEA-109341 | Lease | 31-May-33 | GGM GP INC - 100% | 333.32 | $999.96 | Griffin Mining 1% NSR |
| LEA-109395 | Lease | 31-May-33 | GGM GP INC - 100% | 14.1 | $42.29 | Placer Dome Inc. 2.25% NSR (Key Lake Exploration 2% NSR) |
| LEA-109396 | Lease | 31-May-33 | GGM GP INC - 100% | 12.39 | $37.17 | Placer Dome Inc. 2.25% NSR (Key Lake Exploration 2% NSR) |
| LEA-109397 | Lease | 31-May-33 | GGM GP INC - 100% | 16.36 | $49.08 | Placer Dome Inc. 2.25% NSR (Key Lake Exploration 2% NSR) |
| LEA-109398 | Lease | 31-May-33 | GGM GP INC - 100% | 15.72 | $47.15 | Placer Dome Inc. 2.25% NSR (Key Lake Exploration 2% NSR) |
| LEA-109399 | Lease | 31-May-33 | GGM GP INC - 100% | 27.83 | $83.50 | Placer Dome Inc. 2.25% NSR (Key Lake Exploration 2% NSR) |
| LEA-109401 | Lease | 31-May-33 | GGM GP INC - 100% | 18.76 | $56.27 | Placer Dome Inc. 2.25% NSR (Key Lake Exploration 2% NSR) |
| LEA-109402 | Lease | 31-May-33 | GGM GP INC - 100% | 16.35 | $49.05 | Placer Dome Inc. 2.25% NSR (Key Lake Exploration 2% NSR) |
| LEA-109403 | Lease | 31-May-33 | GGM GP INC - 100% | 23.73 | $71.19 | Placer Dome Inc. 2.25% NSR (Key Lake Exploration 2% NSR) |
| LEA-109404 | Lease | 31-May-33 | GGM GP INC - 100% | 23.33 | $70.00 | Placer Dome Inc. 2.25% NSR (Key Lake Exploration 2% NSR) |
| LEA-109405 | Lease | 31-May-33 | GGM GP INC - 100% | 11.91 | $35.72 | Placer Dome Inc. 2.25% NSR (Key Lake Exploration 2% NSR) |
| LEA-109406 | Lease | 31-May-33 | GGM GP INC - 100% | 7.52 | $22.56 | Placer Dome Inc. 2.25% NSR (Key Lake Exploration 2% NSR) |
| LEA-109407 | Lease | 31-May-33 | GGM GP INC - 100% | 13.8 | $41.39 | Placer Dome Inc. 2.25% NSR (Key Lake Exploration 2% NSR) |
| LEA-109408 | Lease | 31-May-33 | GGM GP INC - 100% | 14.78 | $44.35 | Placer Dome Inc. 2.25% NSR (Key Lake Exploration 2% NSR) |
| LEA-109409 | Lease | 31-May-33 | GGM GP INC - 100% | 7.73 | $23.18 | Placer Dome Inc. 2.25% NSR (Key Lake Exploration 2% NSR) |
| LEA-109410 | Lease | 31-May-33 | GGM GP INC - 100% | 13.65 | $40.94 | Placer Dome Inc. 2.25% NSR (Key Lake Exploration 2% NSR) |
| LEA-109411 | Lease | 31-May-33 | GGM GP INC - 100% | 16.9 | $50.69 | Placer Dome Inc. 2.25% NSR (Key Lake Exploration 2% NSR) |
| LEA-109499 | Lease | 30-Nov-34 | GGM GP INC - 100% | 50.2 | $150.60 | Essar Steel Algoma 2% NSR |
| LEA-109765 | Lease | 30-Jun-39 | GGM GP INC - 100% | 2826.38 | $8479.14 | Argonaut Gold Inc 3% NSR |
| LEA-109786 | Lease | 31-Mar-39 | GGM GP INC - 100% | 98.58 | $295.74 | Essar Steel Algoma 2% NSR |
| LEA-109927 | Lease | 31-May-41 | GGM GP INC - 100% | 1.04 | $3.12 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| LEA-109942 | Lease | 30-Jun-39 | GGM GP INC - 100% | 6.05 | $18.15 | Argonaut Gold Inc 3% NSR |
| MLO-10025 | MLO | NA | GGM GP INC - 100% | 4.01 | $20.03 | Franco-Nevada 3% NSR |

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|:---|:---|
| 30-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Tenure Number** | **Tenure Type** | **Owner** | **Area** | **Annual Rent/Tax** | **Royalty** |
| MLO-10145 | MLO NA | GGM GP INC - 100% | 10.89 | $54.43 | Essar Steel Algoma 2% NSR |
| MLO-10147 | MLO NA | GGM GP INC - 100% | 4.89 | $24.43 | Essar Steel Algoma 2% NSR |
| MLO-10148 | MLO NA | GGM GP INC - 100% | 5.67 | $28.33 | Essar Steel Algoma 2% NSR |
| MLO-10149 | MLO NA | GGM GP INC - 100% | 16.12 | $80.62 | Essar Steel Algoma 2% NSR |
| MLO-10220 | MLO NA | GGM GP INC - 100% | 9.6 | $47.98 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| MLO-10245 | MLO NA | GGM GP INC - 100% | 18.2 | $91.02 | Franco-Nevada 3% NSR |
| MLO-10246 | MLO NA | GGM GP INC - 100% | 12.92 | $64.61 | Franco-Nevada 3% NSR |
| MLO-10247 | MLO NA | GGM GP INC - 100% | 9.61 | $48.08 | Franco-Nevada 3% NSR |
| MLO-10248 | MLO NA | GGM GP INC - 100% | 14.48 | $72.38 | Franco-Nevada 3% NSR |
| MLO-10249 | MLO NA | GGM GP INC - 100% | 9.28 | $46.40 | Franco-Nevada 3% NSR |
| MLO-10250 | MLO NA | GGM GP INC - 100% | 11.52 | $57.63 | Franco-Nevada 3% NSR |
| MLO-10251 | MLO NA | GGM GP INC - 100% | 16.65 | $83.23 | Franco-Nevada 3% NSR |
| MLO-10252 | MLO NA | GGM GP INC - 100% | 24.83 | $124.14 | Franco-Nevada 3% NSR |
| MLO-10253 | MLO NA | GGM GP INC - 100% | 24.19 | $120.96 | Franco-Nevada 3% NSR |
| MLO-10254 | MLO NA | GGM GP INC - 100% | 16.29 | $81.47 | Franco-Nevada 3% NSR |
| MLO-10255 | MLO NA | GGM GP INC - 100% | 5.15 | $25.74 | Franco-Nevada 3% NSR |
| MLO-10256 | MLO NA | GGM GP INC - 100% | 4.05 | $20.24 | Franco-Nevada 3% NSR |
| MLO-10257 | MLO NA | GGM GP INC - 100% | 12.27 | $61.35 | Franco-Nevada 3% NSR |
| MLO-10258 | MLO NA | GGM GP INC - 100% | 7.01 | $35.05 | Franco-Nevada 3% NSR |
| MLO-10276 | MLO NA | GGM GP INC - 100% | 18.1 | $90.51 | Franco-Nevada 3% NSR |
| MLO-10333 | MLO NA | GGM GP INC - 100% | 15.18 | $75.88 | Franco-Nevada 3% NSR |
| MLO-10334 | MLO NA | GGM GP INC - 100% | 17.24 | $86.20 | Franco-Nevada 3% NSR |
| MLO-10335 | MLO NA | GGM GP INC - 100% | 15.34 | $76.69 | Franco-Nevada 3% NSR |
| MLO-10336 | MLO NA | GGM GP INC - 100% | 19.14 | $95.71 | Franco-Nevada 3% NSR |
| MLO-10337 | MLO NA | GGM GP INC - 100% | 18 | $90.02 | Franco-Nevada 3% NSR |
| MLO-10338 | MLO NA | GGM GP INC - 100% | 16.31 | $81.57 | Franco-Nevada 3% NSR |
| MLO-10339 | MLO NA | GGM GP INC - 100% | 10.97 | $54.84 | Franco-Nevada 3% NSR |
| MLO-10340 | MLO NA | GGM GP INC - 100% | 16.19 | $80.94 | Franco-Nevada 3% NSR |
| MLO-10342 | MLO NA | GGM GP INC - 100% | 15.01 | $75.07 | Franco-Nevada 3% NSR |
| MLO-10343 | MLO NA | GGM GP INC - 100% | 22.25 | $111.23 | Franco-Nevada 3% NSR |
| MLO-10344 | MLO NA | GGM GP INC - 100% | 16.8 | $84.02 | Franco-Nevada 3% NSR |
| MLO-10346 | MLO NA | GGM GP INC - 100% | 22.25 | $111.23 | Franco-Nevada 3% NSR |
| MLO-10347 | MLO NA | GGM GP INC - 100% | 19.92 | $99.60 | Franco-Nevada 3% NSR |
| MLO-10348 | MLO NA | GGM GP INC - 100% | 17.65 | $88.24 | Franco-Nevada 3% NSR |
| MLO-10349 | MLO NA | GGM GP INC - 100% | 24.59 | $122.97 | Franco-Nevada 3% NSR |
| MLO-11016 | MLO NA | GGM GP INC - 100% | 4.69 | $23.47 | Franco-Nevada 3% NSR |
| MLO-11017 | MLO NA | GGM GP INC - 100% | 9.43 | $47.15 | Franco-Nevada 3% NSR |

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|:---|:---|
| 30-2 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Tenure Number** | **Tenure Type** | **Owner** | **Area** | **Annual Rent/Tax** | **Royalty** |
| MLO-11030 | MLO NA | GGM GP INC - 100% | 5.14 | $25.70 | Franco-Nevada 3% NSR |
| MLO-14883 | MLO NA | GGM GP INC - 100% | 15.78 | $78.92 | Franco-Nevada 3% NSR |
| MLO-3349 | MLO NA | GGM GP INC - 100% | 15.85 | $79.26 | Franco-Nevada 3% NSR |
| MLO-3350 | MLO NA | GGM GP INC - 100% | 13.65 | $68.23 | Franco-Nevada 3% NSR |
| MLO-3356 | MLO NA | GGM GP INC - 100% | 5.44 | $27.22 | Franco-Nevada 3% NSR |
| MLO-3357 | MLO NA | GGM GP INC - 100% | 4.56 | $22.79 | Franco-Nevada 3% NSR |
| MLO-3358 | MLO NA | GGM GP INC - 100% | 26.89 | $134.46 | Franco-Nevada 3% NSR |
| MLO-3359 | MLO NA | GGM GP INC - 100% | 2.56 | $12.79 | Franco-Nevada 3% NSR |
| MLO-3360 | MLO NA | GGM GP INC - 100% | 8.11 | $40.57 | Franco-Nevada 3% NSR |
| MLO-3361 | MLO NA | GGM GP INC - 100% | 14.24 | $71.19 | Franco-Nevada 3% NSR |
| MLO-3410 | MLO NA | GGM GP INC - 100% | 1.98 | $9.88 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| MLO-3411 | MLO NA | GGM GP INC - 100% | 6.03 | $30.15 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| MLO-3413 | MLO NA | GGM GP INC - 100% | 11.96 | $59.82 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| MLO-3414 | MLO NA | GGM GP INC - 100% | 9.06 | $45.33 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| MLO-3415 | MLO NA | GGM GP INC - 100% | 7.03 | $35.13 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| MLO-3416 | MLO NA | GGM GP INC - 100% | 9.42 | $47.11 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| MLO-3418 | MLO NA | GGM GP INC - 100% | 1.78 | $8.91 | Franco-Nevada 3% NSR |
| MLO-3419 | MLO NA | GGM GP INC - 100% | 24.81 | $124.06 | Franco-Nevada 3% NSR |
| MLO-3420 | MLO NA | GGM GP INC - 100% | 16.19 | $80.94 | Franco-Nevada 3% NSR |
| MLO-3421 | MLO NA | GGM GP INC - 100% | 16.41 | $82.03 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| MLO-3422 | MLO NA | GGM GP INC - 100% | 12.58 | $62.89 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| MLO-3423 | MLO NA | GGM GP INC - 100% | 8.9 | $44.52 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| MLO-3424 | MLO NA | GGM GP INC - 100% | 20.01 | $100.04 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| MLO-3425 | MLO NA | GGM GP INC - 100% | 8.76 | $43.79 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| MLO-3428 | MLO NA | GGM GP INC - 100% | 13.11 | $65.54 | Franco-Nevada 3% NSR |
| MLO-3429 | MLO NA | GGM GP INC - 100% | 6.39 | $31.97 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| MLO-3430 | MLO NA | GGM GP INC - 100% | 3.22 | $16.09 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| MLO-3431 | MLO NA | GGM GP INC - 100% | 23.08 | $115.40 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| MLO-3432 | MLO NA | GGM GP INC - 100% | 18.83 | $94.13 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| MLO-3436 | MLO NA | GGM GP INC - 100% | 4.73 | $23.66 | Franco-Nevada 3% NSR |

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|:---|:---|
| 30-3 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Tenure Number** | **Tenure Type** | **Owner** | **Area** | **Annual Rent/Tax** | **Royalty** |
| MLO-3441 | MLO NA | GGM GP INC - 100% | 26.91 | $134.56 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| MLO-3457 | MLO NA | GGM GP INC - 100% | 12.3 | $61.49 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| MLO-3467 | MLO NA | GGM GP INC - 100% | 12.11 | $60.54 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| MLO-3468 | MLO NA | GGM GP INC - 100% | 16.72 | $83.59 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| MLO-3680 | MLO NA | GGM GP INC - 100% | 9.19 | $45.97 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| MLO-3681 | MLO NA | GGM GP INC - 100% | 4.79 | $23.96 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| MLO-3780 | MLO NA | GGM GP INC - 100% | 11.57 | $57.83 | Franco-Nevada 3% NSR |
| MLO-3781 | MLO NA | GGM GP INC - 100% | 23.08 | $115.40 | Franco-Nevada 3% NSR |
| MLO-3782 | MLO NA | GGM GP INC - 100% | 16.45 | $82.25 | Franco-Nevada 3% NSR |
| MLO-3783 | MLO NA | GGM GP INC - 100% | 6.77 | $33.83 | Franco-Nevada 3% NSR |
| PAT-15207 | Patent NA | GGM GP INC - 100% | 17.82 | $71.29 | Unique Broadband 3% NSR |
| PAT-15208 | Patent NA | GGM GP INC - 100% | 18.68 | $74.74 | Unique Broadband 3% NSR |
| PAT-15209 | Patent NA | GGM GP INC - 100% | 21.87 | $87.49 | Unique Broadband 3% NSR |
| PAT-15210 | Patent NA | GGM GP INC - 100% | 16.38 | $65.51 | Unique Broadband 3% NSR |
| PAT-15211 | Patent NA | GGM GP INC - 100% | 14.37 | $57.50 | Unique Broadband 3% NSR |
| PAT-15212 | Patent NA | GGM GP INC - 100% | 19.02 | $76.08 | Unique Broadband 3% NSR |
| PAT-15213 | Patent NA | GGM GP INC - 100% | 17.48 | $69.93 | Unique Broadband 3% NSR |
| PAT-15214 | Patent NA | GGM GP INC - 100% | 25.21 | $100.85 | Unique Broadband 3% NSR |
| PAT-15215 | Patent NA | GGM GP INC - 100% | 28.09 | $112.34 | Unique Broadband 3% NSR |
| PAT-15216 | Patent NA | GGM GP INC - 100% | 14.1 | $56.40 | Unique Broadband 3% NSR |
| PAT-15217 | Patent NA | GGM GP INC - 100% | 17.18 | $68.70 | Unique Broadband 3% NSR |
| PAT-15218 | Patent NA | GGM GP INC - 100% | 18.47 | $73.86 | Unique Broadband 3% NSR |
| PAT-15219 | Patent NA | GGM GP INC - 100% | 12.23 | $48.92 | Unique Broadband 3% NSR |
| PAT-15220 | Patent NA | GGM GP INC - 100% | 20.98 | $83.92 | Unique Broadband 3% NSR |
| PAT-15221 | Patent NA | GGM GP INC - 100% | 19.83 | $79.32 | Unique Broadband 3% NSR |
| PAT-15222 | Patent NA | GGM GP INC - 100% | 14.12 | $56.46 | Unique Broadband 3% NSR |
| PAT-15223 | Patent NA | GGM GP INC - 100% | 18.56 | $74.24 | Unique Broadband 3% NSR |
| PAT-15224 | Patent NA | GGM GP INC - 100% | 23.62 | $94.47 | Unique Broadband 3% NSR |
| PAT-15225 | Patent NA | GGM GP INC - 100% | 16.13 | $64.52 | Essar Steel Algoma 2% NSR |
| PAT-15226 | Patent NA | GGM GP INC - 100% | 15.26 | $61.03 | Essar Steel Algoma 2% NSR |
| PAT-15227 | Patent NA | GGM GP INC - 100% | 15.26 | $61.03 | Essar Steel Algoma 2% NSR |
| PAT-15228 | Patent NA | GGM GP INC - 100% | 14.22 | $56.87 | Essar Steel Algoma 2% NSR |
| PAT-15229 | Patent NA | GGM GP INC - 100% | 14.42 | $57.68 | Essar Steel Algoma 2% NSR |
| PAT-15230 | Patent NA | GGM GP INC - 100% | 16.23 | $64.91 | Essar Steel Algoma 2% NSR |
| PAT-15231 | Patent NA | GGM GP INC - 100% | 21.14 | $84.55 | Essar Steel Algoma 2% NSR |

---

---

| | |
|:---|:---|
| 30-4 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Tenure Number** | **Tenure Type** | **Owner** | **Area** | **Annual Rent/Tax** | **Royalty** |
| PAT-15232 | Patent NA | GGM GP INC - 100% | 5.26 | $21.04 | Essar Steel Algoma 2% NSR |
| PAT-15233 | Patent NA | GGM GP INC - 100% | 15.3 | $61.20 | Essar Steel Algoma 2% NSR |
| PAT-15234 | Patent NA | GGM GP INC - 100% | 12.41 | $49.65 | Essar Steel Algoma 2% NSR |
| PAT-15235 | Patent NA | GGM GP INC - 100% | 15.84 | $63.36 | Essar Steel Algoma 2% NSR |
| PAT-15236 | Patent NA | GGM GP INC - 100% | 9.98 | $39.92 | Essar Steel Algoma 2% NSR |
| PAT-15237 | Patent NA | GGM GP INC - 100% | 13.68 | $54.73 | Essar Steel Algoma 2% NSR |
| PAT-15238 | Patent NA | GGM GP INC - 100% | 14.34 | $57.35 | Essar Steel Algoma 2% NSR |
| PAT-15239 | Patent NA | GGM GP INC - 100% | 14.1 | $56.38 | Essar Steel Algoma 2% NSR |
| PAT-15240 | Patent NA | GGM GP INC - 100% | 23.11 | $92.43 | Essar Steel Algoma 2% NSR |
| PAT-15241 | Patent NA | GGM GP INC - 100% | 14.66 | $58.63 | Essar Steel Algoma 2% NSR |
| PAT-15242 | Patent NA | GGM GP INC - 100% | 14.02 | $56.07 | Essar Steel Algoma 2% NSR |
| PAT-15243 | Patent NA | GGM GP INC - 100% | 9.49 | $37.94 | Essar Steel Algoma 2% NSR |
| PAT-15244 | Patent NA | GGM GP INC - 100% | 9.4 | $37.60 | Essar Steel Algoma 2% NSR |
| PAT-15245 | Patent NA | GGM GP INC - 100% | 6.92 | $27.70 | Essar Steel Algoma 2% NSR |
| PAT-15246 | Patent NA | GGM GP INC - 100% | 6.85 | $27.39 | Essar Steel Algoma 2% NSR |
| PAT-15247 | Patent NA | GGM GP INC - 100% | 13.37 | $53.48 | Essar Steel Algoma 2% NSR |
| PAT-15248 | Patent NA | GGM GP INC - 100% | 15.16 | $60.64 | Essar Steel Algoma 2% NSR |
| PAT-15475 | Patent NA | GGM GP INC - 100% | 40.43 | $161.73 | Placer Dome Inc. 2.25% NSR (Key Lake Exploration 2% NSR) |
| PAT-15476 | Patent NA | GGM GP INC - 100% | 36.05 | $144.21 | Placer Dome Inc. 2.25% NSR (Key Lake Exploration 2% NSR) |
| PAT-15477 | Patent NA | GGM GP INC - 100% | 36.71 | $146.84 | Placer Dome Inc. 2.25% NSR (Key Lake Exploration 2% NSR) |
| PAT-15478 | Patent NA | GGM GP INC - 100% | 45.12 | $180.49 | Placer Dome Inc. 2.25% NSR (Key Lake Exploration 2% NSR) |
| PAT-15479 | Patent NA | GGM GP INC - 100% | 31.08 | $124.32 | Placer Dome Inc. 2.25% NSR (Key Lake Exploration 2% NSR) |
| PAT-15480 | Patent NA | GGM GP INC - 100% | 28 | $112.02 | Placer Dome Inc. 2.25% NSR (Key Lake Exploration 2% NSR) |
| PAT-15481 | Patent NA | GGM GP INC - 100% | 21.73 | $86.93 | Placer Dome Inc. 2.25% NSR (Key Lake Exploration 2% NSR) |
| PAT-15482 | Patent NA | GGM GP INC - 100% | 14.41 | $57.63 | Placer Dome Inc. 2.25% NSR (Key Lake Exploration 2% NSR) |
| PAT-15483 | Patent NA | GGM GP INC - 100% | 6.92 | $27.68 | Placer Dome Inc. 2.25% NSR (Key Lake Exploration 2% NSR) |
| PAT-15484 | Patent NA | GGM GP INC - 100% | 20.15 | $80.61 | Placer Dome Inc. 2.25% NSR (Key Lake Exploration 2% NSR) |
| PAT-15494 | Patent NA | GGM GP INC - 100% | 16.8 | $67.19 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15495 | Patent NA | GGM GP INC - 100% | 6.77 | $27.06 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15496 | Patent NA | GGM GP INC - 100% | 7.82 | $31.28 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15498 | Patent NA | GGM GP INC - 100% | 10.52 | $42.09 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |

---

---

| | |
|:---|:---|
| 30-5 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Tenure Number** | **Tenure Type** | **Owner** | **Area** | **Annual Rent/Tax** | **Royalty** |
| PAT-15500 | Patent NA | GGM GP INC - 100% | 17.4 | $69.60 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15501 | Patent NA | GGM GP INC - 100% | 11.79 | $47.17 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15502 | Patent NA | GGM GP INC - 100% | 3.43 | $13.73 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15503 | Patent NA | GGM GP INC - 100% | 0.9 | $3.59 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15504 | Patent NA | GGM GP INC - 100% | 5.12 | $20.46 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15505 | Patent NA | GGM GP INC - 100% | 2.37 | $9.48 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15506 | Patent NA | GGM GP INC - 100% | 3.48 | $13.92 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15507 | Patent NA | GGM GP INC - 100% | 5.18 | $20.72 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15508 | Patent NA | GGM GP INC - 100% | 3.55 | $14.20 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15509 | Patent NA | GGM GP INC - 100% | 11.61 | $46.44 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15510 | Patent NA | GGM GP INC - 100% | 6.77 | $27.08 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15511 | Patent NA | GGM GP INC - 100% | 18.03 | $72.13 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15512 | Patent NA | GGM GP INC - 100% | 13.69 | $54.76 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15513 | Patent NA | GGM GP INC - 100% | 11.77 | $47.07 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15514 | Patent NA | GGM GP INC - 100% | 22.88 | $91.52 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15515 | Patent NA | GGM GP INC - 100% | 14.25 | $57.00 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15516 | Patent NA | GGM GP INC - 100% | 7.4 | $29.59 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15517 | Patent NA | GGM GP INC - 100% | 11.38 | $45.50 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15518 | Patent NA | GGM GP INC - 100% | 28.79 | $115.14 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15519 | Patent NA | GGM GP INC - 100% | 5.43 | $21.71 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15520 | Patent NA | GGM GP INC - 100% | 11.35 | $45.40 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15521 | Patent NA | GGM GP INC - 100% | 19.85 | $79.40 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15522 | Patent NA | GGM GP INC - 100% | 5.67 | $22.66 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15523 | Patent NA | GGM GP INC - 100% | 13.68 | $54.71 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15524 | Patent NA | GGM GP INC - 100% | 16.32 | $65.28 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15525 | Patent NA | GGM GP INC - 100% | 5.79 | $23.15 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |

---

---

| | |
|:---|:---|
| 30-6 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Tenure Number** | **Tenure Type** | **Owner** | **Area** | **Annual Rent/Tax** | **Royalty** |
| PAT-15526 | Patent NA | GGM GP INC - 100% | 12.95 | $51.80 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15527 | Patent NA | GGM GP INC - 100% | 16.62 | $66.50 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-15528 | Patent NA | GGM GP INC - 100% | 24.69 | $98.74 | Franco-Nevada 3% NSR |
| PAT-15529 | Patent NA | GGM GP INC - 100% | 8.42 | $33.67 | Franco-Nevada 3% NSR |
| PAT-15530 | Patent NA | GGM GP INC - 100% | 14.81 | $59.24 | Franco-Nevada 3% NSR |
| PAT-15532 | Patent NA | GGM GP INC - 100% | 20.11 | $80.45 | Franco-Nevada 3% NSR |
| PAT-15533 | Patent NA | GGM GP INC - 100% | 6.43 | $25.70 | Franco-Nevada 3% NSR |
| PAT-15534 | Patent NA | GGM GP INC - 100% | 15.47 | $61.88 | Franco-Nevada 3% NSR |
| PAT-15535 | Patent NA | GGM GP INC - 100% | 2.42 | $9.66 | Franco-Nevada 3% NSR |
| PAT-15536 | Patent NA | GGM GP INC - 100% | 9.55 | $38.19 | Franco-Nevada 3% NSR |
| PAT-15537 | Patent NA | GGM GP INC - 100% | 17.45 | $69.80 | Franco-Nevada 3% NSR |
| PAT-15538 | Patent NA | GGM GP INC - 100% | 7.85 | $31.40 | Franco-Nevada 3% NSR |
| PAT-15539 | Patent NA | GGM GP INC - 100% | 14.84 | $59.34 | Franco-Nevada 3% NSR |
| PAT-15540 | Patent NA | GGM GP INC - 100% | 9.34 | $37.38 | Franco-Nevada 3% NSR |
| PAT-15541 | Patent NA | GGM GP INC - 100% | 20.14 | $80.55 | Franco-Nevada 3% NSR |
| PAT-15542 | Patent NA | GGM GP INC - 100% | 22.55 | $90.18 | Franco-Nevada 3% NSR |
| PAT-15543 | Patent NA | GGM GP INC - 100% | 13.59 | $54.36 | Franco-Nevada 3% NSR |
| PAT-15544 | Patent NA | GGM GP INC - 100% | 7.48 | $29.92 | Franco-Nevada 3% NSR |
| PAT-15545 | Patent NA | GGM GP INC - 100% | 11.72 | $46.88 | Franco-Nevada 3% NSR |
| PAT-15546 | Patent NA | GGM GP INC - 100% | 17.12 | $68.47 | Franco-Nevada 3% NSR |
| PAT-15547 | Patent NA | GGM GP INC - 100% | 16.19 | $64.75 | Franco-Nevada 3% NSR |
| PAT-15548 | Patent NA | GGM GP INC - 100% | 16.19 | $64.75 | Franco-Nevada 3% NSR |
| PAT-15549 | Patent NA | GGM GP INC - 100% | 16.19 | $64.75 | Franco-Nevada 3% NSR |
| PAT-15550 | Patent NA | GGM GP INC - 100% | 16.19 | $64.75 | Franco-Nevada 3% NSR |
| PAT-15551 | Patent NA | GGM GP INC - 100% | 16.19 | $64.75 | Franco-Nevada 3% NSR |
| PAT-15552 | Patent NA | GGM GP INC - 100% | 16.19 | $64.75 | Franco-Nevada 3% NSR |
| PAT-15553 | Patent NA | GGM GP INC - 100% | 16.19 | $64.75 | Franco-Nevada 3% NSR |
| PAT-15554 | Patent NA | GGM GP INC - 100% | 16.19 | $64.75 | Franco-Nevada 3% NSR |
| PAT-15555 | Patent NA | GGM GP INC - 100% | 15.18 | $60.70 | Franco-Nevada 3% NSR |
| PAT-15556 | Patent NA | GGM GP INC - 100% | 15.82 | $63.29 | Franco-Nevada 3% NSR |
| PAT-15557 | Patent NA | GGM GP INC - 100% | 15.86 | $63.46 | Franco-Nevada 3% NSR |
| PAT-15558 | Patent NA | GGM GP INC - 100% | 16.19 | $64.75 | Franco-Nevada 3% NSR |
| PAT-15559 | Patent NA | GGM GP INC - 100% | 14.25 | $56.98 | Franco-Nevada 3% NSR |
| PAT-15560 | Patent NA | GGM GP INC - 100% | 14.85 | $59.41 | Franco-Nevada 3% NSR |
| PAT-15561 | Patent NA | GGM GP INC - 100% | 16.84 | $67.34 | Franco-Nevada 3% NSR |
| PAT-15562 | Patent NA | GGM GP INC - 100% | 17.16 | $68.64 | Franco-Nevada 3% NSR |
| PAT-15563 | Patent NA | GGM GP INC - 100% | 15.74 | $62.97 | Franco-Nevada 3% NSR |

---

---

| | |
|:---|:---|
| 30-7 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Tenure Number** | **Tenure Type** | **Owner** | **Area** | **Annual Rent/Tax** | **Royalty** |
| PAT-15564 | Patent NA | GGM GP INC - 100% | 14.37 | $57.46 | Franco-Nevada 3% NSR |
| PAT-15565 | Patent NA | GGM GP INC - 100% | 21.25 | $84.98 | Franco-Nevada 3% NSR |
| PAT-15611 | Patent NA | GGM GP INC - 100% | 17.69 | $70.77 | Franco-Nevada 3% NSR |
| PAT-15612 | Patent NA | GGM GP INC - 100% | 15.71 | $62.86 | Franco-Nevada 3% NSR |
| PAT-15613 | Patent NA | GGM GP INC - 100% | 20.32 | $81.29 | Franco-Nevada 3% NSR |
| PAT-15614 | Patent NA | GGM GP INC - 100% | 23.89 | $95.56 | Franco-Nevada 3% NSR |
| PAT-15615 | Patent NA | GGM GP INC - 100% | 13.21 | $52.85 | Franco-Nevada 3% NSR |
| PAT-15616 | Patent NA | GGM GP INC - 100% | 15.98 | $63.92 | Franco-Nevada 3% NSR |
| PAT-15617 | Patent NA | GGM GP INC - 100% | 15.4 | $61.59 | Franco-Nevada 3% NSR |
| PAT-15618 | Patent NA | GGM GP INC - 100% | 11.95 | $47.80 | Franco-Nevada 3% NSR |
| PAT-15619 | Patent NA | GGM GP INC - 100% | 11.05 | $44.19 | Franco-Nevada 3% NSR |
| PAT-15620 | Patent NA | GGM GP INC - 100% | 16.54 | $66.16 | Franco-Nevada 3% NSR |
| PAT-15621 | Patent NA | GGM GP INC - 100% | 10.15 | $40.58 | Franco-Nevada 3% NSR |
| PAT-15622 | Patent NA | GGM GP INC - 100% | 12.95 | $51.82 | Franco-Nevada 3% NSR |
| PAT-15623 | Patent NA | GGM GP INC - 100% | 13.39 | $53.56 | Franco-Nevada 3% NSR |
| PAT-15624 | Patent NA | GGM GP INC - 100% | 18.69 | $74.77 | Franco-Nevada 3% NSR |
| PAT-15625 | Patent NA | GGM GP INC - 100% | 24.21 | $96.85 | Franco-Nevada 3% NSR |
| PAT-15626 | Patent NA | GGM GP INC - 100% | 20.52 | $82.07 | Franco-Nevada 3% NSR |
| PAT-15627 | Patent NA | GGM GP INC - 100% | 19.01 | $76.05 | Franco-Nevada 3% NSR |
| PAT-15628 | Patent NA | GGM GP INC - 100% | 25.26 | $101.04 | Franco-Nevada 3% NSR |
| PAT-15629 | Patent NA | GGM GP INC - 100% | 17 | $67.99 | Franco-Nevada 3% NSR |
| PAT-15630 | Patent NA | GGM GP INC - 100% | 16.04 | $64.15 | Franco-Nevada 3% NSR |
| PAT-15631 | Patent NA | GGM GP INC - 100% | 2.66 | $10.62 | Franco-Nevada 3% NSR |
| PAT-15632 | Patent NA | GGM GP INC - 100% | 19.68 | $78.70 | Franco-Nevada 3% NSR |
| PAT-15634 | Patent NA | GGM GP INC - 100% | 3.24 | $12.97 | Franco-Nevada 3% NSR |
| PAT-15635 | Patent NA | GGM GP INC - 100% | 16.39 | $65.56 | Franco-Nevada 3% NSR |
| PAT-15636 | Patent NA | GGM GP INC - 100% | 23.67 | $94.70 | Franco-Nevada 3% NSR |
| PAT-15637 | Patent NA | GGM GP INC - 100% | 19.86 | $79.45 | Franco-Nevada 3% NSR |
| PAT-15638 | Patent NA | GGM GP INC - 100% | 3.46 | $13.82 | Franco-Nevada 3% NSR |
| PAT-15640 | Patent NA | GGM GP INC - 100% | 28.17 | $112.70 | Franco-Nevada 3% NSR |
| PAT-15641 | Patent NA | GGM GP INC - 100% | 21.07 | $84.29 | Franco-Nevada 3% NSR |
| PAT-15643 | Patent NA | GGM GP INC - 100% | 22.77 | $91.09 | Franco-Nevada 3% NSR |
| PAT-15644 | Patent NA | GGM GP INC - 100% | 22.39 | $89.55 | Franco-Nevada 3% NSR |
| PAT-15645 | Patent NA | GGM GP INC - 100% | 25.75 | $102.98 | Franco-Nevada 3% NSR |
| PAT-15646 | Patent NA | GGM GP INC - 100% | 19.28 | $77.12 | Franco-Nevada 3% NSR |
| PAT-15647 | Patent NA | GGM GP INC - 100% | 6.77 | $27.08 | Franco-Nevada 3% NSR |
| PAT-15648 | Patent NA | GGM GP INC - 100% | 17.17 | $68.67 | Franco-Nevada 3% NSR |
| PAT-15649 | Patent NA | GGM GP INC - 100% | 24.31 | $97.24 | Franco-Nevada 3% NSR |

---

---

| | |
|:---|:---|
| 30-8 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Tenure Number** | **Tenure Type** | **Owner** | **Area** | **Annual Rent/Tax** | **Royalty** |
| PAT-15650 | Patent NA | GGM GP INC - 100% | 22.02 | $88.08 | Franco-Nevada 3% NSR |
| PAT-15651 | Patent NA | GGM GP INC - 100% | 20.5 | $81.99 | Franco-Nevada 3% NSR |
| PAT-15652 | Patent NA | GGM GP INC - 100% | 16.8 | $67.21 | Franco-Nevada 3% NSR |
| PAT-15653 | Patent NA | GGM GP INC - 100% | 26.87 | $107.47 | Franco-Nevada 3% NSR |
| PAT-15654 | Patent NA | GGM GP INC - 100% | 4.29 | $17.16 | Franco-Nevada 3% NSR |
| PAT-15655 | Patent NA | GGM GP INC - 100% | 14.94 | $59.76 | Franco-Nevada 3% NSR |
| PAT-15656 | Patent NA | GGM GP INC - 100% | 17.27 | $69.07 | Franco-Nevada 3% NSR |
| PAT-15657 | Patent NA | GGM GP INC - 100% | 19.25 | $76.99 | Franco-Nevada 3% NSR |
| PAT-15658 | Patent NA | GGM GP INC - 100% | 24.65 | $98.60 | Franco-Nevada 3% NSR |
| PAT-15659 | Patent NA | GGM GP INC - 100% | 16.62 | $66.46 | Franco-Nevada 3% NSR |
| PAT-15660 | Patent NA | GGM GP INC - 100% | 21.52 | $86.08 | Franco-Nevada 3% NSR |
| PAT-15661 | Patent NA | GGM GP INC - 100% | 19.1 | $76.39 | Franco-Nevada 3% NSR |
| PAT-15662 | Patent NA | GGM GP INC - 100% | 16.06 | $64.25 | Franco-Nevada 3% NSR |
| PAT-15663 | Patent NA | GGM GP INC - 100% | 8.73 | $34.92 | Franco-Nevada 3% NSR |
| PAT-15664 | Patent NA | GGM GP INC - 100% | 21.39 | $85.55 | Franco-Nevada 3% NSR |
| PAT-15665 | Patent NA | GGM GP INC - 100% | 4.78 | $19.13 | Franco-Nevada 3% NSR |
| PAT-17566 | Patent NA | CS RES LTD. - 37.5%, GGM GP INC. - 37.5%, ALCOA LTD. - 25% | 4.97 | $19.90 | Griffin Mining 1% NSR |
| PAT-17567 | Patent NA | CS RES LTD. - 37.5%, GGM GP INC. - 37.5%, ALCOA LTD. - 25% | 21.81 | $87.25 | Griffin Mining 1% NSR |
| PAT-41207 | Patent NA | CS RES LTD. - 37.5%, GGM GP INC. - 37.5%, ALCOA LTD. - 25% | 27.55 | $110.21 | Griffin Mining 1% NSR |
| PAT-41256 | Patent NA | CS RES LTD. - 37.5%, GGM GP INC. - 37.5%, ALCOA LTD. - 25% | 0.41 | $1.62 | Griffin Mining 1% NSR |
| PAT-50453 | Patent NA | CS RES LTD. - 37.5%, GGM GP INC. - 37.5%, ALCOA LTD. - 25% | 23.96 | $95.83 | Griffin Mining 1% NSR |
| PAT-50454 | Patent NA | CS RES LTD. - 37.5%, GGM GP INC. - 37.5%, ALCOA LTD. - 25% | 23.55 | $94.21 | Griffin Mining 1% NSR |
| PAT-50455 | Patent NA | CS RES LTD. - 37.5%, GGM GP INC. - 37.5%, ALCOA LTD. - 25% | 9.24 | $36.94 | Griffin Mining 1% NSR |
| PAT-50456 | Patent NA | CS RES LTD. - 37.5%, GGM GP INC. - 37.5%, ALCOA LTD. - 25% | 12.51 | $50.04 | Griffin Mining 1% NSR |
| PAT-50457 | Patent NA | CS RES LTD. - 37.5%, GGM GP INC. - 37.5%, ALCOA LTD. - 25% | 25.86 | $103.44 | Griffin Mining 1% NSR |
| PAT-50458 | Patent NA | CS RES LTD. - 37.5%, GGM GP INC. - 37.5%, ALCOA LTD. - 25% | 14.97 | $59.89 | Griffin Mining 1% NSR |

---

---

| | |
|:---|:---|
| 30-9 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Tenure Number** | **Tenure Type** | **Owner** | **Area** | **Annual Rent/Tax** | **Royalty** |
| PAT-50459 | Patent NA | CS RES LTD. - 37.5%, GGM GP INC. - 37.5%, ALCOA LTD. - 25% | 1.34 | $5.37 | Griffin Mining 1% NSR |
| PAT-50460 | Patent NA | CS RES LTD. - 37.5%, GGM GP INC. - 37.5%, ALCOA LTD. - 25% | 12.58 | $50.31 | Griffin Mining 1% NSR |
| PAT-50622 | Patent NA | GGM GP INC - 100% | 3.48 | $13.92 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-50623 | Patent NA | GGM GP INC - 100% | 6.99 | $27.94 | Franco-Nevada 3% NSR, Essar Steel Algoma Inc. (5% NPI) |
| PAT-50624 | Patent NA | GGM GP INC - 100% | 16.67 | $66.69 | Franco-Nevada 3% NSR |
| PAT-50625 | Patent NA | GGM GP INC - 100% | 25.97 | $103.89 | Franco-Nevada 3% NSR |
| PAT-50626 | Patent NA | GGM GP INC - 100% | 3 | $11.98 | Franco-Nevada 3% NSR |
| PAT-51193 | Patent NA | GGM GP INC - 100% | 23.67 | $94.70 | Franco-Nevada 3% NSR |

---

#### Table 30-2: Hardrock (or Kenogamisis) Property Cell Claims

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Tenure Number | Anniversary | Owner | Area | Annual Work Requirement | Royalty |
| 111103 BCMC | 6-Oct-26 | (100) GGM GP INC. | 2.98 | $200 | - |
| 111309 BCMC | 15-May-26 | (100) GGM GP INC. | 6.21 | $200 | - |
| 111819 BCMC | 15-Nov-26 | (100) GGM GP INC. | 16.77 | $200 | Argonaut Gold Inc 3% NSR |
| 141756 BCMC | 6-Oct-26 | (100) GGM GP INC. | 7.34 | $200 | - |
| 147257 BCMC | 23-Oct-26 | (100) GGM GP INC. | 8.08 | $200 | - |
| 147258 BCMC | 23-Oct-26 | (100) GGM GP INC. | 2.82 | $200 | - |
| 148230 BCMC | 1-Oct-26 | (100) GGM GP INC. | 3.28 | $200 | - |
| 148290 BCMC | 23-Oct-26 | (100) GGM GP INC. | 2.07 | $200 | - |
| 152047 BCMC | 6-Oct-26 | (100) GGM GP INC. | 3.43 | $200 | - |
| 171291 BCMC | 15-Nov-26 | (100) GGM GP INC. | 14.44 | $200 | Argonaut Gold Inc 3% NSR |
| 175678 BCMC | 15-Nov-26 | (100) GGM GP INC. | 13.52 | $200 | Argonaut Gold Inc 3% NSR |
| 176836 BCMC | 1-Oct-26 | (100) GGM GP INC. | 8.06 | $200 | - |
| 196544 BCMC | 15-Nov-26 | (100) GGM GP INC. | 13.54 | $200 | Argonaut Gold Inc 3% NSR |
| 196545 BCMC | 15-Nov-26 | (100) GGM GP INC. | 16.43 | $200 | Argonaut Gold Inc 3% NSR |
| 205367 BCMC | 15-May-26 | (100) GGM GP INC. | 6.17 | $200 | - |
| 209919 BCMC | 15-May-26 | (100) GGM GP INC. | 7.37 | $200 | - |
| 217289 BCMC | 15-May-26 | (100) GGM GP INC. | 10.35 | $200 | - |
| 220819 BCMC | 15-Nov-26 | (100) GGM GP INC. | 6.43 | $200 | Argonaut Gold Inc 3% NSR |
| 221966 BCMC | 15-Oct-26 | (100) GGM GP INC. | 4.18 | $200 | - |
| 237815 BCMC | 11-Jan-26 | (100) GGM GP INC. | 1.08 | $200 | - |
| 242936 BCMC | 1-Oct-26 | (100) GGM GP INC. | 9.1 | $200 | - |
| 247226 BCMC | 15-May-26 | (100) GGM GP INC. | 5 | $200 | - |
| 254502 BCMC | 4-Apr-26 | (100) GGM GP INC. | 4.14 | $200 | - |

---

---

| | |
|:---|:---|
| 30-10 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Tenure Number | Tenure Type | Anniversary | Owner | Area | Annual Work Requirement | Royalty |
| 263261 | BCMC | 15-Nov-26 | (100) GGM GP INC. | 13.53 | $200 | Argonaut Gold Inc 3% NSR |
| 266561 | BCMC | 4-Apr-26 | (100) GGM GP INC. | 0.49 | $200 | - |
| 270518 | BCMC | 15-Nov-26 | (100) GGM GP INC. | 10.56 | $200 | Argonaut Gold Inc 3% NSR |
| 305197 | BCMC | 15-May-26 | (100) GGM GP INC. | 7.38 | $200 | - |
| 315351 | BCMC | 15-Oct-26 | (100) GGM GP INC. | 1.14 | $200 | - |
| 321246 | BCMC | 15-May-26 | (100) GGM GP INC. | 2.99 | $200 | - |
| 324020 | BCMC | 11-Jan-26 | (100) GGM GP INC. | 2.76 | $200 | - |
| 332984 | BCMC | 15-May-26 | (100) GGM GP INC. | 6.13 | $200 | - |
| 103936 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 103938 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 106945 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 107393 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 107394 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 108919 | SCMC | 1-Oct-26 | (100) GGM GP INC. | 20.6 | $200 | - |
| 109716 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 109820 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 110261 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 110262 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 110263 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 110377 | SCMC | 6-Oct-26 | (100) GGM GP INC. | 0.24 | $200 | - |
| 110378 | SCMC | 6-Oct-26 | (100) GGM GP INC. | 20.89 | $400 | - |
| 110379 | SCMC | 6-Oct-26 | (100) GGM GP INC. | 17.08 | $400 | - |
| 110906 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 111104 | SCMC | 6-Oct-26 | (100) GGM GP INC. | 20.79 | $200 | - |
| 111794 | SCMC | 4-Apr-26 | (100) GGM GP INC. | 2.71 | $400 | - |
| 111795 | SCMC | 4-Apr-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 111818 | SCMC | 15-Nov-26 | (100) GGM GP INC. | 0.08 | $400 | Argonaut Gold Inc 3% NSR |
| 111903 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 112275 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 112566 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 112899 | SCMC | 4-Apr-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 113202 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 9.25 | $400 | - |
| 113203 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 114130 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 119202 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 119203 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 119204 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 119206 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |

---

---

| | |
|:---|:---|
| 30-11 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Tenure Number | Tenure Type | Anniversary | Owner | Area | Annual Work Requirement | Royalty |
| 120189 | SCMC | 1-Oct-26 | (100) GGM GP INC. | 0.21 | $200 | - |
| 120567 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 120570 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 120571 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 120849 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 122005 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 122282 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 123976 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 125395 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 127499 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 128083 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 129244 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 130638 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 130639 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 130640 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 130863 | SCMC | 13-Nov-26 | (100) GGM GP INC. | 0.31 | $200 | - |
| 131017 | SCMC | 1-Oct-26 | (100) GGM GP INC. | 11.27 | $200 | - |
| 131721 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 132444 | SCMC | 6-Oct-26 | (100) GGM GP INC. | 20.89 | $400 | - |
| 132445 | SCMC | 6-Oct-26 | (100) GGM GP INC. | 20.89 | $400 | - |
| 132446 | SCMC | 6-Oct-26 | (100) GGM GP INC. | 2.48 | $200 | - |
| 133535 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 133536 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 135058 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 135059 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 136482 | SCMC | 15-Nov-26 | (100) GGM GP INC. | 10.1 | $200 | Argonaut Gold Inc 3% NSR |
| 136902 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 137259 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 137260 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 137832 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 137833 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 138282 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 140714 | SCMC | 13-Nov-26 | (100) GGM GP INC. | 17.11 | $200 | - |
| 141757 | SCMC | 6-Oct-26 | (100) GGM GP INC. | 20.89 | $400 | - |
| 141935 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 142550 | SCMC | 15-Nov-26 | (100) GGM GP INC. | 15.69 | $200 | Argonaut Gold Inc 3% NSR |
| 143293 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 143305 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |

---

---

| | |
|:---|:---|
| 30-12 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Tenure Number | Tenure Type | Anniversary | Owner | Area | Annual Work Requirement | Royalty |
| 143788 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 143789 | SCMC | 4-Apr-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 143967 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 146117 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 146118 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 146984 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 146985 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 148231 | SCMC | 1-Oct-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 148289 | SCMC | 23-Oct-26 | (100) GGM GP INC. | 17.29 | $200 | - |
| 148404 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 148405 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 148902 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 148903 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 151237 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 151871 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 151923 | SCMC | 15-Nov-26 | (100) GGM GP INC. | 20.01 | $400 | Argonaut Gold Inc 3% NSR |
| 151924 | SCMC | 15-Nov-26 | (100) GGM GP INC. | 14.72 | $400 | Argonaut Gold Inc 3% NSR |
| 153265 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.89 | $400 | - |
| 153266 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 153267 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 156042 | SCMC | 15-Nov-26 | (100) GGM GP INC. | 4.25 | $400 | Argonaut Gold Inc 3% NSR |
| 156760 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 156761 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 157310 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 157905 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 159047 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 159049 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 161980 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 2.74 | $400 | - |
| 163178 | SCMC | 15-Oct-26 | (100) GGM GP INC. | 7.25 | $200 | - |
| 163182 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 163183 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 163184 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 163185 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 165411 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 165658 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 166083 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 166084 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 167185 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |

---

---

| | |
|:---|:---|
| 30-13 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Tenure Number | Tenure Type | Anniversary | Owner | Area | Annual Work Requirement | Royalty |
| 168494 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 169352 | SCMC | 4-Apr-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 170566 | SCMC | 21-Sep-26 | (100) GGM GP INC. | 2.32 | $400 | - |
| 170679 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 171292 | SCMC | 15-Nov-26 | (100) GGM GP INC. | 20.9 | $400 | Argonaut Gold Inc 3% NSR |
| 171293 | SCMC | 15-Nov-26 | (100) GGM GP INC. | 20.9 | $400 | Argonaut Gold Inc 3% NSR |
| 171958 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 172032 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 172035 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 172036 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 174090 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 174165 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 174166 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 175580 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 177498 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 177499 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 178582 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 178744 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 180226 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 180227 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 180842 | SCMC | 6-Oct-26 | (100) GGM GP INC. | 3.61 | $200 | - |
| 182106 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 184196 | SCMC | 1-Oct-26 | (100) GGM GP INC. | 3.39 | $200 | - |
| 184600 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 184601 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 185133 | SCMC | 6-Oct-26 | (100) GGM GP INC. | 19.33 | $200 | - |
| 185531 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.5 | $400 | - |
| 185532 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 185533 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 186517 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.89 | $400 | - |
| 187676 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 187677 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 187809 | SCMC | 4-Apr-26 | (100) GGM GP INC. | 2.69 | $400 | - |
| 190319 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 190320 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 192133 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 192134 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 192733 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |

---

---

| | |
|:---|:---|
| 30-14 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Tenure Number | Tenure Type | Anniversary | Owner | Area | Annual Work Requirement | Royalty |
| 192734 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 193542 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 193543 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 193544 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 193545 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 195095 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 195346 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 196349 | SCMC | 1-Oct-26 | (100) GGM GP INC. | 15.11 | $400 | - |
| 196527 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 2.72 | $400 | - |
| 197020 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 197021 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 197212 | SCMC | 6-Oct-26 | (100) GGM GP INC. | 0.38 | $200 | - |
| 197451 | SCMC | 2-Nov-26 | (100) GGM GP INC. | 0.62 | $200 | - |
| 199321 | SCMC | 4-Apr-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 199354 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 200380 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 201250 | SCMC | 15-Nov-26 | (100) GGM GP INC. | 20.74 | $200 | Argonaut Gold Inc 3% NSR |
| 201285 | SCMC | 2-Aug-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 201557 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 201953 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 201954 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 202662 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 204234 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 205368 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.89 | $400 | - |
| 207199 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 207343 | SCMC | 4-Apr-26 | (100) GGM GP INC. | 2.67 | $400 | - |
| 207344 | SCMC | 4-Apr-26 | (100) GGM GP INC. | 2.7 | $400 | - |
| 207822 | SCMC | 6-Oct-26 | (100) GGM GP INC. | 20.89 | $400 | - |
| 208045 | SCMC | 21-Sep-26 | (100) GGM GP INC. | 1.28 | $400 | - |
| 208661 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 208687 | SCMC | 15-Nov-26 | (100) GGM GP INC. | 3.1 | $200 | Argonaut Gold Inc 3% NSR |
| 208688 | SCMC | 15-Nov-26 | (100) GGM GP INC. | 6.82 | $400 | Argonaut Gold Inc 3% NSR |
| 209807 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 209885 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 210305 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 210387 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 212282 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 212283 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |

---

---

| | |
|:---|:---|
| 30-15 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Tenure Number | Tenure Type | Anniversary | Owner | Area | Annual Work Requirement | Royalty |
| 213062 | SCMC | 1-Oct-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 213063 | SCMC | 1-Oct-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 214567 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 10.77 | $400 | - |
| 214568 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 214585 | SCMC | 15-Nov-26 | (100) GGM GP INC. | 1.85 | $400 | Argonaut Gold Inc 3% NSR |
| 214586 | SCMC | 15-Nov-26 | (100) GGM GP INC. | 0.43 | $400 | Argonaut Gold Inc 3% NSR |
| 217290 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 220715 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 220716 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 220717 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 220820 | SCMC | 15-Nov-26 | (100) GGM GP INC. | 20.9 | $400 | Argonaut Gold Inc 3% NSR |
| 220844 | SCMC | 2-Aug-26 | (100) GGM GP INC. | 2.73 | $400 | - |
| 221457 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 221965 | SCMC | 13-Nov-26 | (100) GGM GP INC. | 20.89 | $400 | - |
| 221971 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 221972 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 222069 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 223196 | SCMC | 13-Nov-26 | (100) GGM GP INC. | 2.32 | $200 | - |
| 224432 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 225307 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 225308 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 225474 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 228849 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 229415 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 229416 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 230146 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 230147 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 230148 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 232089 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 232090 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 232400 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 232401 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 233307 | SCMC | 15-May-26 | (100) GGM GP INC. | 14.95 | $400 | - |
| 233308 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 233309 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 234738 | SCMC | 2-Nov-26 | (100) GGM GP INC. | 0.03 | $200 | - |
| 236964 | SCMC | 6-Oct-26 | (100) GGM GP INC. | 20.89 | $400 | - |
| 237243 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |

---

---

| | |
|:---|:---|
| 30-16 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Tenure Number | Tenure Type | Anniversary | Owner | Area | Annual Work Requirement | Royalty |
| 237244 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 237795 | SCMC | 21-Sep-26 | (100) GGM GP INC. | 0.96 | $400 | - |
| 237905 | SCMC | 2-Aug-26 | (100) GGM GP INC. | 2.27 | $400 | - |
| 237906 | SCMC | 2-Aug-26 | (100) GGM GP INC. | 0.3 | $400 | - |
| 239830 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 239831 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 240218 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 240219 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 240802 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 240803 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 240804 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 242189 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 242190 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 243625 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 243741 | SCMC | 15-Nov-26 | (100) GGM GP INC. | 20.91 | $400 | Argonaut Gold Inc 3% NSR |
| 244607 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 244608 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 244609 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 245092 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 247227 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 249438 | SCMC | 13-Nov-26 | (100) GGM GP INC. | 20.89 | $400 | - |
| 249688 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 249689 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 250199 | SCMC | 13-Nov-26 | (100) GGM GP INC. | 3.78 | $200 | - |
| 250975 | SCMC | 1-Oct-26 | (100) GGM GP INC. | 18.36 | $200 | - |
| 250976 | SCMC | 1-Oct-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 250977 | SCMC | 1-Oct-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 251754 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 251755 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 251756 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 251776 | SCMC | 15-Nov-26 | (100) GGM GP INC. | 7.77 | $200 | Argonaut Gold Inc 3% NSR |
| 252828 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 252829 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 253109 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.89 | $400 | - |
| 254503 | SCMC | 4-Apr-26 | (100) GGM GP INC. | 2.66 | $400 | - |
| 254628 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 255009 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 255010 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |

---

---

| | |
|:---|:---|
| 30-17 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Tenure Number | Tenure Type | Anniversary | Owner | Area | Annual Work Requirement | Royalty |
| 255803 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 257136 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 9.24 | $400 | - |
| 257300 | SCMC | 15-Nov-26 | (100) GGM GP INC. | 1.91 | $200 | Argonaut Gold Inc 3% NSR |
| 257301 | SCMC | 15-Nov-26 | (100) GGM GP INC. | 1.97 | $200 | Argonaut Gold Inc 3% NSR |
| 258027 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 258618 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 258619 | SCMC | 4-Apr-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 260717 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 261371 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 261372 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 261373 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 261771 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 261772 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 261775 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 262123 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 263252 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 263260 | SCMC | 15-Nov-26 | (100) GGM GP INC. | 20.82 | $200 | Argonaut Gold Inc 3% NSR |
| 263868 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 264016 | SCMC | 2-Nov-26 | (100) GGM GP INC. | 5.47 | $200 | - |
| 264017 | SCMC | 2-Nov-26 | (100) GGM GP INC. | 2.13 | $200 | - |
| 266479 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 266480 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 267899 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 267900 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 268823 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 269105 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 269106 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 269107 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 269108 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 269109 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 270599 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 272492 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 272493 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 272494 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 274039 | SCMC | 21-Sep-26 | (100) GGM GP INC. | 0.54 | $400 | - |
| 274659 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 9.26 | $400 | - |
| 275188 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 275244 | SCMC | 15-Nov-26 | (100) GGM GP INC. | 20.9 | $400 | Argonaut Gold Inc 3% NSR |

---

---

| | |
|:---|:---|
| 30-18 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Tenure Number | Tenure Type | Anniversary | Owner | Area | Annual Work Requirement | Royalty |
| 275376 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 275772 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 275773 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 275991 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 278743 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 279494 | SCMC | 1-Oct-26 | (100) GGM GP INC. | 3.37 | $200 | - |
| 280169 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 280416 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 287325 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 287326 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 287418 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 287419 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 288551 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 288552 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 289402 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 289403 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 292724 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 292725 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 296633 | SCMC | 15-Oct-26 | (100) GGM GP INC. | 2.33 | $200 | - |
| 296832 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 299073 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 299074 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 299075 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 299541 | SCMC | 1-Oct-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 300417 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 300436 | SCMC | 15-Nov-26 | (100) GGM GP INC. | 20.78 | $400 | Argonaut Gold Inc 3% NSR |
| 300437 | SCMC | 15-Nov-26 | (100) GGM GP INC. | 20.91 | $400 | Argonaut Gold Inc 3% NSR |
| 300520 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 301053 | SCMC | 6-Oct-26 | (100) GGM GP INC. | 5.87 | $200 | - |
| 301067 | SCMC | 6-Oct-26 | (100) GGM GP INC. | 0.5 | $200 | - |
| 301750 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.89 | $400 | - |
| 301751 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.89 | $400 | - |
| 301752 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 302067 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 302068 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 302069 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 303583 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 303584 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |

---

---

| | |
|:---|:---|
| 30-19 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Tenure Number | Tenure Type | Anniversary | Owner | Area | Annual Work Requirement | Royalty |
| 304485 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 305233 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 305707 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 305790 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 305791 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 305800 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 307547 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 307548 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 307549 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 307550 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 307551 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 308151 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 309252 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 309544 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 309545 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 310422 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 311037 | SCMC | 6-Oct-26 | (100) GGM GP INC. | 19.02 | $200 | - |
| 312497 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 312604 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 312605 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 312606 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 313004 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 313005 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 313105 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 314255 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 314842 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 314843 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 315298 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 315358 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 315359 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 316273 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 317235 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 317236 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 317546 | SCMC | 1-Oct-26 | (100) GGM GP INC. | 1.55 | $200 | - |
| 317691 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 317745 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 318717 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 318718 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.9 | $400 | - |

---

---

| | |
|:---|:---|
| 30-20 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Tenure Number | Tenure Type | Anniversary | Owner | Area | Annual Work Requirement | Royalty |
| 319082 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.89 | $400 | - |
| 320517 | SCMC | 4-Apr-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 321247 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 323967 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 9.26 | $400 | - |
| 324588 | SCMC | 15-Nov-26 | (100) GGM GP INC. | 11.05 | $200 | Argonaut Gold Inc 3% NSR |
| 324725 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 325323 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 9.25 | $400 | - |
| 325324 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 325803 | SCMC | 4-Apr-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 325804 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 325805 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 327669 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 327670 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 327671 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 327672 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 328738 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 330463 | SCMC | 15-Nov-26 | (100) GGM GP INC. | 20.91 | $400 | Argonaut Gold Inc 3% NSR |
| 330599 | SCMC | 6-Oct-26 | (100) GGM GP INC. | 20.89 | $400 | - |
| 330600 | SCMC | 6-Oct-26 | (100) GGM GP INC. | 20.89 | $400 | - |
| 331052 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 332085 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 332540 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 332985 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.89 | $400 | - |
| 333798 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 334381 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 9.26 | $400 | - |
| 334382 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 9.25 | $400 | - |
| 334383 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 334384 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.93 | $400 | - |
| 334403 | SCMC | 15-Nov-26 | (100) GGM GP INC. | 19.29 | $400 | - |
| 334634 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 334671 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 335709 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 337929 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 339078 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 339327 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 339328 | SCMC | 12-Jun-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 339352 | SCMC | 15-Nov-26 | (100) GGM GP INC. | 20.91 | $400 | Argonaut Gold Inc 3% NSR |
| 340060 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |

---

---

| | |
|:---|:---|
| 30-21 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Tenure Number | Tenure Type | Anniversary | Owner | Area | Annual Work Requirement | Royalty |
| 340061 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 340062 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 340299 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 343634 | SCMC | 5-Jun-26 | (100) GGM GP INC. | 20.91 | $400 | - |
| 345098 | SCMC | 4-Apr-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 345099 | SCMC | 15-May-26 | (100) GGM GP INC. | 20.92 | $400 | - |
| 699606 | SCMC | 28-Dec-26 | (100) GGM GP INC. | 9.67 | $400 | - |
| 699607 | SCMC | 28-Dec-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 699608 | SCMC | 28-Dec-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 699609 | SCMC | 28-Dec-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 719260 | SCMC | 14-Apr-26 | (100) GGM GP INC. | 1.38 | $400 | - |
| 719261 | SCMC | 14-Apr-26 | (100) GGM GP INC. | 1.45 | $400 | - |
| 742386 | SCMC | 15-Aug-26 | (100) GGM GP INC. | 20.89 | $400 | - |
| 742387 | SCMC | 15-Aug-26 | (100) GGM GP INC. | 20.89 | $400 | - |
| 742388 | SCMC | 15-Aug-26 | (100) GGM GP INC. | 20.89 | $400 | - |
| 742389 | SCMC | 15-Aug-26 | (100) GGM GP INC. | 1.84 | $400 | - |
| 742390 | SCMC | 15-Aug-26 | (100) GGM GP INC. | 3.66 | $400 | - |
| 742391 | SCMC | 15-Aug-26 | (100) GGM GP INC. | 4.6 | $400 | - |
| 742392 | SCMC | 15-Aug-26 | (100) GGM GP INC. | 6.51 | $400 | - |
| 765051 | SCMC | 2-Dec-26 | (100) GGM GP INC. | 20.89 | $400 | - |
| 772465 | SCMC | 7-Jan-26 | (100) GGM GP INC. | 3.23 | $400 | - |
| 773407 | SCMC | 9-Jan-26 | (100) GGM GP INC. | 20.89 | $400 | - |
| 773408 | SCMC | 9-Jan-26 | (100) GGM GP INC. | 20.89 | $400 | - |
| 873002 | SCMC | 24-Dec-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 883182 | SCMC | 19-Mar-26 | (100) GGM GP INC. | 12.86 | $400 | - |
| 883183 | SCMC | 19-Mar-26 | (100) GGM GP INC. | 8.73 | $400 | - |
| 883184 | SCMC | 19-Mar-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 883185 | SCMC | 19-Mar-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 883186 | SCMC | 19-Mar-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 883187 | SCMC | 19-Mar-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 896497 | SCMC | 9-Jul-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 896498 | SCMC | 9-Jul-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 896499 | SCMC | 9-Jul-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 896500 | SCMC | 9-Jul-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 896501 | SCMC | 9-Jul-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 896502 | SCMC | 9-Jul-26 | (100) GGM GP INC. | 20.9 | $400 | - |
| 896503 | SCMC | 9-Jul-26 | (100) GGM GP INC. | 20.9 | $400 | - |

---

Note: BCMC = boundary cell mining claim, SCMC = single cell mining claim

---

| | |
|:---|:---|
| 30-22 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

#### Table 30-3: Brookbank-Kenogamisis Bridge Cell Claims and Leases

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;296876 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;156193 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;6-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;3.49 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;100867 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;101495 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;116822 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;7.92 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;116823 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;121117 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;121118 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.45 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;160253 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;7.54 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;166270 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;10.69 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;166288 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.83 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;179112 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;179113 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;179114 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;179115 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.64 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;195525 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;10.89 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;214207 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;7.35 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;222244 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;222287 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;230289 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;258246 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;262156 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;4.07 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;269620 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;269621 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.06 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;281718 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.42 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;294862 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |

---

---

| | |
|:---|:---|
| 30-23 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;295568 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;328794 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;7.74 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;328795 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.26 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;340651 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;7-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;144720 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;8-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;156831 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;8-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;223553 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;8-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;223666 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;8-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;230255 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;8-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;277450 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;8-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;127559 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;144744 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;156848 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;156849 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;162863 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;202175 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;222286 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;229551 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;288843 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;313349 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;287624 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;314039 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;548649 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;16-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;548650 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;16-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;548651 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;16-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;548652 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;16-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;548653 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;16-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |

---

---

| | |
|:---|:---|
| 30-24 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;225006 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;281025 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;100884 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;115946 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;15.43 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;117076 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;129010 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;19.65 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;143434 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;156840 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;13.95 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;157540 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;19.85 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;163554 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;20-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.17 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;165502 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.09 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;202166 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;12.25 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;203395 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;210223 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;223656 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;18.20 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;230257 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;1.15 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;232228 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;2.70 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;258910 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;259458 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.89 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;259474 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;260817 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;7.74 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;278207 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;278974 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;11.53 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;280277 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;312719 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;12.19 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;324889 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Apr-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;548968 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;26-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |

---

---

| | |
|:---|:---|
| 30-25 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;548969 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;26-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;548970 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;26-Apr-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;100939 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;1-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;8.20 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;120375 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;1-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;14.63 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;120376 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;1-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;15.68 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;165543 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;1-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;8.82 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;178409 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;1-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;224968 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;1-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;4.02 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;232262 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;1-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;9.86 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;280987 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;1-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;12.47 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;327572 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;1-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;339922 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;1-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;19.30 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;100255 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;101851 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;101852 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;101968 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;114814 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;120403 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;126299 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;127546 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;128254 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;143447 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;143448 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;145374 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;145466 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;145467 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;157550 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |

---

---

| | |
|:---|:---|
| 30-26 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;162854 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;164856 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;165565 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;202164 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;202716 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;210221 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;212130 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;224237 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;228281 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;231008 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;232287 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;258924 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;259485 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;261460 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;268194 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;276786 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;277461 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;277462 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;294981 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;296965 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;296966 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;312726 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;312728 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;313341 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;326148 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;100268 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;100269 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |

---

---

| | |
|:---|:---|
| 30-27 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;126302 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;156860 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;210752 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;258256 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;276763 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;288857 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;831405 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-May-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;2.13 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;831406 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-May-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.87 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;831660 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-May-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;831661 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-May-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;831662 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-May-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;831663 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-May-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;831665 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-May-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;831666 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-May-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;115050 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;4.97 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;126909 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;19.61 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;145431 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;5.11 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;145451 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;4.72 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;158876 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;8.46 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;162221 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;10.78 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;168353 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.97 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;202149 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;209547 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;210207 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;210208 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;210213 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;16.44 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;212080 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;4.91 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;222249 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;258216 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;259558 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;$200 |  |

---

---

| | |
|:---|:---|
| 30-28 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;278130 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;19.67 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;288839 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;4.87 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;296340 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;17.99 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;312675 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.44 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;313332 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;313344 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;116016 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;15-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.74 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;162774 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;15-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;12.55 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;177627 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;15-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;288837 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;15-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;305914 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;15-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;2.81 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;312731 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;15-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.44 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;312732 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;15-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;10.92 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;314355 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;15-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;335251 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;15-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;3.87 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;101975 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;16-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;4.27 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;202039 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;16-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;278160 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;16-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;15.59 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;296973 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;16-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;14.19 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;116021 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;19-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;224226 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;19-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;8.21 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;268180 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;19-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;7.38 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;312792 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;19-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.24 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;114824 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;115075 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;115076 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;117086 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |

---

---

| | |
|:---|:---|
| 30-29 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;127678 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;128253 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;128304 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;142804 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;142805 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;142806 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;163565 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;201401 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;202851 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;209560 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;211492 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;212114 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;222255 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;223003 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;223655 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;229535 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;230311 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;257609 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;258255 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;258920 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;277437 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;278975 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;278982 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;287601 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;296288 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;296300 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;296328 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |

---

---

| | |
|:---|:---|
| 30-30 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;311454 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;314045 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;325412 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;325516 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;23-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;101826 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;115035 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;117258 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;127027 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;128211 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;128242 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;128278 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;128279 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;129596 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;140134 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;157544 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;162308 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;162841 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;163555 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;163569 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;177680 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;192651 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;202139 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;210211 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;211446 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.50 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;211469 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;211470 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;211471 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |

---

---

| | |
|:---|:---|
| 30-31 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;212888 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;223635 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;230261 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;230268 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;230346 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;230906 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;231019 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;232336 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;13.47 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;258215 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;258866 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;259591 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;274462 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;276188 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;276714 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;276762 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;277456 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;278978 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;279672 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;280968 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;288856 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;296896 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;314073 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;324867 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;324870 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;326111 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;326771 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;326867 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |

---

---

| | |
|:---|:---|
| 30-32 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;328792 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;550445 | &nbsp;&nbsp;MCMC | &nbsp;&nbsp;28-May-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;41.79 | &nbsp;&nbsp;$800 |  |
| &nbsp;&nbsp;157539 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;29-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;212137 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;29-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;212160 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;29-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;224196 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;29-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;231526 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;29-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;232313 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;29-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;297565 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;29-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;326075 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;29-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;326755 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;29-May-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;551034 | &nbsp;&nbsp;MCMC | &nbsp;&nbsp;4-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;83.58 | &nbsp;&nbsp;$1600 |  |
| &nbsp;&nbsp;551035 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;100695 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;114858 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;127547 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;144007 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;144721 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;144729 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;144739 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;145348 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;158126 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;172191 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;221554 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;221555 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;228311 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;230343 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |

---

---

| | |
|:---|:---|
| 30-33 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;230344 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;230345 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;259528 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;269616 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;269617 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;269618 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;278055 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;279593 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;294863 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;294864 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;295584 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;296894 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;299018 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;299020 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;326086 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;328791 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;5-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;163607 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;16.92 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;222285 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;223528 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.54 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;100900 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;114810 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;19-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;16.81 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;116539 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;142788 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;158223 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;159524 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;164204 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;164309 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |

---

---

| | |
|:---|:---|
| 30-34 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;178384 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;194283 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;204039 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;221013 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;19-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;10.20 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;223664 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;258145 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;268966 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;19-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;10.00 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;276134 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;279673 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;287579 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;288128 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;294866 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;314809 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;324795 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;114809 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;114938 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;117063 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;126267 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;126918 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;126975 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;143469 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;156201 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;157553 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;163577 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;201385 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;201386 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;201509 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |

---

---

| | |
|:---|:---|
| 30-35 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;202857 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;209439 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;209561 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;210144 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;210145 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;211454 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;221640 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;222194 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;222195 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;222964 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;228973 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;261509 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;279028 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;324132 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;326125 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;129579 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;27-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.87 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;204139 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;27-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.87 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;204140 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;27-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;5.19 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;224261 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;27-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;4.38 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;231545 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;27-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;2.59 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;268224 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;27-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.87 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;268225 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;27-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.87 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;277501 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;27-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;280271 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;27-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;2.36 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;280272 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;27-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;280273 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;27-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.87 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;296856 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;27-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |

---

---

| | |
|:---|:---|
| 30-36 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;297589 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;27-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.62 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;314684 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;27-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;4.69 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;326884 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;27-Jun-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.87 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;126297 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;144005 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;221551 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;101906 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;117220 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;142790 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;158155 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;162256 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;162257 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;195524 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;201387 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;202060 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;202061 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;210108 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;211563 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;228280 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;228951 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;228952 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;229552 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;282945 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;282946 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;288245 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;288246 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;288844 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |

---

---

| | |
|:---|:---|
| 30-37 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;288845 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;294327 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;297547 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;299019 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;312802 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;127560 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;128942 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;129689 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;178312 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;194206 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;229553 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;278151 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;298194 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;312727 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Jul-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;100199 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;25-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;100672 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;25-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;114977 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;25-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;128312 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;25-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;172163 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;25-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;222970 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;25-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;258845 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;25-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;275520 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;25-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;277449 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;25-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;278918 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;25-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;296299 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;25-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;326076 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;25-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;144712 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;26-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |

---

---

| | |
|:---|:---|
| 30-38 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;156822 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;26-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;162835 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;26-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;5.32 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;162836 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;26-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;9.52 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;202138 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;26-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;19.66 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;210205 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;26-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;212788 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;26-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;212789 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;26-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;19.86 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;231569 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;26-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;276210 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;26-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;17.48 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;288824 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;26-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;17.85 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;295573 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;26-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;19.26 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;313324 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;26-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;17.28 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;313325 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;26-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;19.46 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;324866 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;26-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;326901 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;26-Jul-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;1.39 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;158193 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;3-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;1.23 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;201506 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;3-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;211479 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;3-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;211480 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;3-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;100198 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;100440 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.06 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;100456 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;100477 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;8.34 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;114815 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;114914 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;115053 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;115058 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |

---

---

| | |
|:---|:---|
| 30-39 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;117251 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;126973 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;1.63 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;142791 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;143487 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;144093 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;144713 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;144714 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.64 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;144764 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;145453 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;1.43 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;145469 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.48 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;156823 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;156844 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;157572 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;162837 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;162838 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;163609 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;164206 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;16.33 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;179676 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.05 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;201505 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;202856 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;19.82 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;203363 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;203397 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;209456 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;210227 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;211436 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;211453 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;212134 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.64 | &nbsp;&nbsp;$200 |  |

---

---

| | |
|:---|:---|
| 30-40 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;228916 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;229530 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;229531 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;259455 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;16.69 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;259471 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;275480 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;276125 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;276767 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.73 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;277500 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;288267 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;11.37 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;295618 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.59 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;295619 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;298967 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;311413 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;311423 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;312014 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;312111 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;312689 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;324868 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;324869 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;326097 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;326116 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;328212 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.25 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;339940 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;100325 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;100399 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.63 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;101985 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.88 | &nbsp;&nbsp;$200 |  |

---

---

| | |
|:---|:---|
| 30-41 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;114963 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;117140 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;121026 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.44 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;126296 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;128216 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;143474 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;143493 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;156233 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.69 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;156901 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;158127 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;158831 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;164158 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;164159 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;172190 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;202169 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;202855 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;203389 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;209483 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;222277 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;277384 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;277489 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;278064 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;287621 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;288913 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;295600 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;295646 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;1.14 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;296225 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |

---

---

| | |
|:---|:---|
| 30-42 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;296855 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.90 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;296895 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;313347 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.83 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;314081 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;326082 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;326117 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;230260 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;18-Aug-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;278976 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;18-Aug-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;116061 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;24-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.62 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;117132 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;126913 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;24-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;1.03 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;128281 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-Aug-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;2.73 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;144717 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-Aug-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;3.20 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;164855 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;24-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;202142 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-Aug-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;210092 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;212765 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;24-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;6.78 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;221636 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;221637 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;229533 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-Aug-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;4.43 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;229554 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-Aug-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;230293 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-Aug-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;10.59 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;259469 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;268226 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;277481 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-Aug-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;288129 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;288130 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;24-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;6.56 | &nbsp;&nbsp;$200 |  |

---

---

| | |
|:---|:---|
| 30-43 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;288208 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;294869 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;294948 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;24-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.83 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;296338 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-Aug-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;296877 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-Aug-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;6.91 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;313326 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-Aug-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;324174 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;24-Aug-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;6.34 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;115074 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;2-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;127568 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;2-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;142787 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;2-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;144743 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;2-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;156192 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;2-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;158813 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;2-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;162874 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;2-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;201502 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;2-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;210750 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;2-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;230285 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;2-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;258245 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;2-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;275478 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;2-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;288244 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;2-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;288855 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;2-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;326849 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;2-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;100436 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;3-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;128292 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;3-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;155560 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;3-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;172150 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;3-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;6.79 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;201388 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;3-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;4.13 | &nbsp;&nbsp;$200 |  |

---

---

| | |
|:---|:---|
| 30-44 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;202845 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;3-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;17.66 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;221558 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;3-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;17.91 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;221635 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;3-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;18.42 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;223529 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;3-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;228314 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;3-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;18.17 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;228315 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;3-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;228998 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;3-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;17.40 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;228999 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;3-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;230954 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;3-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;258198 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;3-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;6.03 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;258199 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;3-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;7.06 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;294329 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;3-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;163564 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;6-Sep-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;278158 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;6-Sep-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;288202 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;6-Sep-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;557524 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;10-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;5.66 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;557525 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;10-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;4.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;557526 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;10-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;4.31 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;100273 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;115079 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;115944 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;12.69 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;116062 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;117082 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;117083 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;129007 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;17.65 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;144124 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;144765 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;13.50 | &nbsp;&nbsp;$200 |  |

---

---

| | |
|:---|:---|
| 30-45 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;155558 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;162222 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;164238 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;14.34 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;164239 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;202189 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.72 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;210754 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;210755 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;210756 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;212129 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;222284 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;228906 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;228950 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;229570 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;231547 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.84 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;268227 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;276135 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;276756 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;276768 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;278149 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;14.56 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;280276 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;287578 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;288243 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;294865 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;294951 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;312667 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.66 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;326189 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;326746 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |

---

---

| | |
|:---|:---|
| 30-46 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;172192 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;178442 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;14.52 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;204055 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;18.29 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;204163 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;212795 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;280284 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;17.77 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;281571 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;8.87 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;313350 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Sep-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;100250 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;23-Sep-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;6.84 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;156830 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;23-Sep-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.07 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;229538 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;23-Sep-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;18.79 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;276725 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;23-Sep-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.63 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;295582 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;23-Sep-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.83 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;324879 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;23-Sep-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;3.21 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;324880 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;23-Sep-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.27 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;222982 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Sep-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;257484 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Sep-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;259571 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Sep-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;275495 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Sep-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;116011 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;3-Oct-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;13.90 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;212128 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;3-Oct-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;14.12 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;258939 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;3-Oct-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;2.02 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;277471 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;3-Oct-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.62 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;288127 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;3-Oct-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;324172 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;3-Oct-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;15.26 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;562044 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;18-Oct-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;116662 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;19-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;3.61 | &nbsp;&nbsp;$200 |  |

---

---

| | |
|:---|:---|
| 30-47 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;126950 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;128295 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;19-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;15.57 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;129556 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;19-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;13.54 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;144120 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;14.48 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;144121 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;156234 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.65 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;162254 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;11.56 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;212208 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;12.40 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;221553 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;13.47 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;228310 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;230292 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;11.49 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;261483 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;19-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;3.41 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;276098 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;19-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;19.15 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;288240 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;19-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.47 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;296334 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;19-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;19.68 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;296335 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;19-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;313346 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;19-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;17.83 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;339960 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;19-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;3.04 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;114823 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;127683 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;158156 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;162875 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;165501 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;201431 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;210875 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;228972 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;276097 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |

---

---

| | |
|:---|:---|
| 30-48 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;277388 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;278076 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;311422 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;313360 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;100366 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;100486 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;101323 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;116657 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;143364 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;143479 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;157480 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;157481 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;157482 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;157574 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;159586 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;162977 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;163603 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;194863 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;202774 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;202775 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;202776 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;202777 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;202840 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;210206 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;210865 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;210866 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;210867 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |

---

---

| | |
|:---|:---|
| 30-49 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;210868 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;211442 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;3.96 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;211482 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;222923 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;222924 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;222925 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;225005 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;230194 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;230195 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;230196 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;230197 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;258146 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;258842 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;258843 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;258844 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;259466 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;260152 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;277383 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;277490 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;277491 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;279022 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;279023 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;288241 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;288269 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;288270 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;288825 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;294982 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |

---

---

| | |
|:---|:---|
| 30-50 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;296342 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;325514 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;325515 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;326869 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;328121 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Oct-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;100779 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;8-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;102139 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;8-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;114931 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;8-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;144087 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;8-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;144088 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;8-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;194173 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;8-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;288207 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;8-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;312039 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;8-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;279000 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;9-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;14.48 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;326100 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;4.12 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;869924 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;10-Dec-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;100173 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;15-Dec-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;100693 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;15-Dec-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;115054 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;15-Dec-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;16.34 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;115055 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;15-Dec-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.06 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;156228 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;15-Dec-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;177644 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;15-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;177645 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;15-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;12.67 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;202046 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;15-Dec-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;204117 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;15-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;210097 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;15-Dec-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;210228 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;15-Dec-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.26 | &nbsp;&nbsp;$200 |  |

---

---

| | |
|:---|:---|
| 30-51 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;229547 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;15-Dec-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;16.31 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;230956 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;15-Dec-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;258140 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;15-Dec-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;268193 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;15-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;14.78 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;288840 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;15-Dec-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;3.80 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;295598 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;15-Dec-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;312068 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;15-Dec-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;312803 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;15-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;15.00 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;312804 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;15-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;324784 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;15-Dec-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;326848 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;15-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;100174 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;100782 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;101957 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;11.25 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;101963 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;116840 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;117107 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;11.65 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;120428 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;121141 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;126300 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;3.85 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;127542 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;128275 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;2.77 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;145452 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;145461 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;145482 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;14.51 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;155579 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;158192 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |

---

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| | |
|:---|:---|
| 30-52 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;160809 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;166303 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;177706 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;6.91 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;181702 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;17.73 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;201402 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;201428 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;201429 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;202036 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;202037 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;11.98 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;202038 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;203394 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;228291 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;228949 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;230953 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.87 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;230955 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;14.67 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;231533 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;231564 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;258137 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;259580 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;259616 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;262290 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;268250 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;268251 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;10.63 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;276713 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;277484 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;9.63 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;279016 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;279667 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |

---

---

| | |
|:---|:---|
| 30-53 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;279684 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;12.80 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;288132 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;295574 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;311456 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;4.09 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;312695 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;314085 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;324145 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;326091 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;326196 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;326232 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;30-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;16.10 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;294972 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;31-Dec-26 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;116083 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;1-Jan-27 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;7.56 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;223606 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;1-Jan-27 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;15.78 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;228917 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;1-Jan-27 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;13.13 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;328132 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;1-Jan-27 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;1.23 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;773406 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-Jan-27 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;195758 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;20-Jan-27 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;100271 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;100671 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;101965 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;116618 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;4.60 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;117131 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;126275 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;126276 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;143446 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;10.93 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;144762 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;155578 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |

---

---

| | |
|:---|:---|
| 30-54 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;162855 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;194817 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;202055 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;202177 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;202778 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;221607 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;222307 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;223607 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;223659 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;223663 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;14.36 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;224967 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;6.57 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;228870 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;229550 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;14.92 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;230267 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.22 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;257516 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;258257 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;276754 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;14.74 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;278148 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;278155 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;14.55 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;288181 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;294925 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;296313 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;325518 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;14.12 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;326087 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;21-Jan-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;12.44 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;101231 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;101232 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;4-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;5.91 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;117704 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |

---

---

| | |
|:---|:---|
| 30-55 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;123739 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;152253 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;4-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;6.12 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;181676 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;217050 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;235598 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;264272 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;264273 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;343269 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;4-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;343270 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;4-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;5.69 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;100290 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;115047 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;127023 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;128241 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;144008 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;144119 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;156817 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;156839 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;162905 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;163526 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;164177 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;202170 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;210107 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;210199 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;211437 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;258236 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;278981 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;18.97 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;288131 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |

---

---

| | |
|:---|:---|
| 30-56 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;288816 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;324888 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;9-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;116086 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;11-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;12.96 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;129026 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;11-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;13.15 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;202838 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;204108 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;11-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;13.34 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;212079 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;230252 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;276758 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;277448 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;11-Feb-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;101908 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;14-Mar-27 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;15.86 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;203474 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;14-Mar-27 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;14.09 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;209548 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;14-Mar-27 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;13.48 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;228905 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;14-Mar-27 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;12.95 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;259555 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;14-Mar-27 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;16.15 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;287625 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;14-Mar-27 | &nbsp;&nbsp;(26) METALORE RESOURCES LIMITED, (74) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;15.09 | &nbsp;&nbsp;$200 |  |
| &nbsp;&nbsp;260907 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;24-Mar-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;101972 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;25-Mar-27 | &nbsp;&nbsp;(21) METALORE RESOURCES LIMITED, (79) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823195 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823196 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823197 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823198 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823199 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823200 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823201 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823202 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823203 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823204 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823205 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823206 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823207 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823208 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |

---

---

| | |
|:---|:---|
| 30-57 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement | &nbsp;&nbsp;Royalty |
| &nbsp;&nbsp;823209 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823210 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823211 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823212 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823213 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823214 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823215 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823216 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823217 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823218 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823219 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823220 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823221 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823222 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823223 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823224 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823225 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823226 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823227 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823228 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823229 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823230 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823231 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823232 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823233 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823234 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823235 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823236 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823237 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823238 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823239 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823240 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823241 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |
| &nbsp;&nbsp;823242 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;13-Apr-26 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |  |

---

#### Table 30-4: Brookbank Leases

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Tenure Number | Tenure Type | Anniversary | Owner | Area | Annual Rent / Tax | Royalty |
| LEA-109291 | Lease | 31-May-33 | GREENSTONE GOLD MINES GP INC. (412543) - 100% | 367.82 | $1103.47 | *Metalore Resources Inc (1% NSR)* |

---

---

| | |
|:---|:---|
| 30-58 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Tenure Number | Tenure Type | Anniversary | Owner | Area | Annual Rent / Tax | Royalty |
| LEA-109292 | Lease | 31-May-33 | METALORE RESOURCES LIMITED (169912) - 26%, GREENSTONE GOLD MINES GP INC. (412543) - 74% | 63.07 | $189.21 |  |
| LEA-109293 | Lease | 31-May-33 | METALORE RESOURCES LIMITED (169912) - 26%, GREENSTONE GOLD MINES GP INC. (412543) - 74% | 373.35 | $1120.04 |  |
| LEA-109294 | Lease | 31-May-33 | METALORE RESOURCES LIMITED (169912) - 26%, GREENSTONE GOLD MINES GP INC. (412543) - 74% | 194.70 | $584.11 |  |
| LEA-20240 | Lease | 31-Dec-34 | METALORE RESOURCES LIMITED (169912) - 26%, GREENSTONE GOLD MINES GP INC. (412543) - 74% | 11.58 | $34.75 |  |
| LEA-20241 | Lease | 31-Dec-34 | METALORE RESOURCES LIMITED (169912) - 26%, GREENSTONE GOLD MINES GP INC. (412543) - 74% | 17.34 | $52.02 |  |
| LEA-20242 | Lease | 31-Dec-34 | METALORE RESOURCES LIMITED (169912) - 26%, GREENSTONE GOLD MINES GP INC. (412543) - 74% | 6.67 | $20.02 |  |
| LEA-20243 | Lease | 31-Dec-34 | METALORE RESOURCES LIMITED (169912) - 26%, GREENSTONE GOLD MINES GP INC. (412543) - 74% | 9.53 | $28.60 |  |
| LEA-20244 | Lease | 31-Dec-34 | METALORE RESOURCES LIMITED (169912) - 26%, GREENSTONE GOLD MINES GP INC. (412543) - 74% | 16.14 | $48.42 |  |
| LEA-20245 | Lease | 31-Dec-34 | METALORE RESOURCES LIMITED (169912) - 26%, GREENSTONE GOLD MINES GP INC. (412543) - 74% | 15.39 | $46.16 |  |
| LEA-20246 | Lease | 31-Dec-34 | METALORE RESOURCES LIMITED (169912) - 26%, GREENSTONE GOLD MINES GP INC. (412543) - 74% | 13.02 | $39.06 |  |
| LEA-20247 | Lease | 31-Dec-34 | METALORE RESOURCES LIMITED (169912) - 26%, GREENSTONE GOLD MINES GP INC. (412543) - 74% | 13.76 | $41.29 |  |
| LEA-20248 | Lease | 31-Dec-34 | METALORE RESOURCES LIMITED (169912) - 26%, GREENSTONE GOLD MINES GP INC. (412543) - 74% | 18.49 | $55.48 |  |
| LEA-20249 | Lease | 31-Dec-34 | METALORE RESOURCES LIMITED (169912) - 26%, GREENSTONE GOLD MINES GP INC. (412543) - 74% | 25.69 | $77.06 |  |
| LEA-20250 | Lease | 31-Dec-34 | METALORE RESOURCES LIMITED (169912) - 26%, GREENSTONE GOLD MINES GP INC. (412543) - 74% | 10.62 | $31.85 |  |
| LEA-20251 | Lease | 31-Dec-34 | METALORE RESOURCES LIMITED (169912) - 26%, GREENSTONE GOLD MINES GP INC. (412543) - 74% | 25.04 | $75.11 |  |
| LEA-20252 | Lease | 31-Dec-34 | METALORE RESOURCES LIMITED (169912) - 26%, GREENSTONE GOLD MINES GP INC. (412543) - 74% | 13.10 | $39.30 |  |
| LEA-20253 | Lease | 31-Dec-34 | METALORE RESOURCES LIMITED (169912) - 26%, GREENSTONE GOLD MINES GP INC. (412543) - 74% | 12.47 | $37.42 |  |
| LEA-20254 | Lease | 31-Dec-34 | METALORE RESOURCES LIMITED (169912) - 26%, GREENSTONE GOLD MINES GP INC. (412543) - 74% | 16.43 | $49.30 |  |

---

#### Table 30-5: Viper Claims

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement |
| &nbsp;&nbsp;104347 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;3.68 | &nbsp;&nbsp;$200 |
| &nbsp;&nbsp;104491 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;104770 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;104948 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;104949 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;107539 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;108009 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;108010 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;108946 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;110001 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;114063 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;114432 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$200 |

---

---

| | |
|:---|:---|
| 30-59 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement |
| &nbsp;&nbsp;118745 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;2.66 | &nbsp;&nbsp;$200 |
| &nbsp;&nbsp;119955 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;122623 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;125468 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;5.53 | &nbsp;&nbsp;$200 |
| &nbsp;&nbsp;127310 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;127311 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.13 | &nbsp;&nbsp;$200 |
| &nbsp;&nbsp;128579 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;129150 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;130956 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;131093 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;133787 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;137460 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;138756 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;138757 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;140057 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;140198 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;142602 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$200 |
| &nbsp;&nbsp;143581 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;145662 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;147166 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;148258 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;148259 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;153354 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;154590 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;154591 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;155817 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.40 | &nbsp;&nbsp;$200 |
| &nbsp;&nbsp;157092 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;157093 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;158557 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;158943 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;158944 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;160688 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$200 |
| &nbsp;&nbsp;160689 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;161005 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;161006 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;161114 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;161115 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;161116 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;161264 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;162528 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;166019 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;167161 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;171800 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |

---

---

| | |
|:---|:---|
| 30-60 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement |
| &nbsp;&nbsp;171801 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;18.70 | &nbsp;&nbsp;$200 |
| &nbsp;&nbsp;173021 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;173022 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;174055 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;174056 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;176552 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;176553 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;176782 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;176860 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;178487 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;178488 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;179957 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;182166 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;182167 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;182675 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;182676 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;9.16 | &nbsp;&nbsp;$200 |
| &nbsp;&nbsp;183989 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;186024 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;17.83 | &nbsp;&nbsp;$200 |
| &nbsp;&nbsp;186025 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;186642 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;187132 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;191071 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;191278 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;191379 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;192071 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;19.96 | &nbsp;&nbsp;$200 |
| &nbsp;&nbsp;192209 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;204322 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;210552 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;210955 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;210956 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;210957 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;213081 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;213144 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;213340 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.89 | &nbsp;&nbsp;$200 |
| &nbsp;&nbsp;214729 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$200 |
| &nbsp;&nbsp;215913 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;215914 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;218825 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;218826 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;221342 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;221343 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;222477 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;226148 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;5.65 | &nbsp;&nbsp;$200 |

---

---

| | |
|:---|:---|
| 30-61 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement |
| &nbsp;&nbsp;226762 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;228536 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;228537 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;228640 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;229296 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;6.42 | &nbsp;&nbsp;$200 |
| &nbsp;&nbsp;229297 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;229499 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;229500 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;229501 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;230427 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;230428 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;230429 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;230430 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;231791 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;231792 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;237572 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;237573 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;237574 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;239696 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;240790 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;241473 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;0.48 | &nbsp;&nbsp;$200 |
| &nbsp;&nbsp;241474 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;242456 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;242630 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;242631 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;246632 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;246657 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;248092 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;248093 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;248094 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;248804 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;248805 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;248806 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;249979 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;10.09 | &nbsp;&nbsp;$200 |
| &nbsp;&nbsp;250587 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;4.21 | &nbsp;&nbsp;$200 |
| &nbsp;&nbsp;252680 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;15.49 | &nbsp;&nbsp;$200 |
| &nbsp;&nbsp;261310 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;261311 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;261645 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;262432 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;262484 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;263032 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;265241 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |

---

---

| | |
|:---|:---|
| 30-62 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement |
| &nbsp;&nbsp;268495 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;270354 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;275287 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$200 |
| &nbsp;&nbsp;276452 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;278452 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;279806 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;279807 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;281823 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;281824 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;282438 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;282460 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;284751 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;284752 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;284753 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;286611 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;286612 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;287906 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;290506 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;290507 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;290523 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;295230 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;295493 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;295494 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;295840 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;296515 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;9.91 | &nbsp;&nbsp;$200 |
| &nbsp;&nbsp;296516 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;297067 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;297517 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;297518 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;301840 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;305443 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;305567 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;305568 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;307011 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;307947 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;307948 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;307949 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;308215 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;309187 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;5.45 | &nbsp;&nbsp;$200 |
| &nbsp;&nbsp;309784 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;311904 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;312194 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;5.76 | &nbsp;&nbsp;$200 |
| &nbsp;&nbsp;312195 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;2.48 | &nbsp;&nbsp;$200 |

---

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| | |
|:---|:---|
| 30-63 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Tenure Number | &nbsp;&nbsp;Tenure Type | &nbsp;&nbsp;Anniversary | &nbsp;&nbsp;Owner | &nbsp;&nbsp;Area | &nbsp;&nbsp;Annual Work Requirement |
| &nbsp;&nbsp;313776 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;315913 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;316352 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;317017 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;321332 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;323788 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;323789 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;323790 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;324631 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;325113 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;325114 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;325115 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;325711 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;326465 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;327061 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;328676 | &nbsp;&nbsp;BCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;5.81 | &nbsp;&nbsp;$200 |
| &nbsp;&nbsp;329207 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;329208 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;329608 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;334964 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;334965 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;334966 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;334967 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;334968 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;1.19 | &nbsp;&nbsp;$200 |
| &nbsp;&nbsp;335164 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;335566 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;335801 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;336264 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.88 | &nbsp;&nbsp;$200 |
| &nbsp;&nbsp;338599 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;342089 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.90 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;343685 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.92 | &nbsp;&nbsp;$400 |
| &nbsp;&nbsp;344297 | &nbsp;&nbsp;SCMC | &nbsp;&nbsp;12-Jul-25 | &nbsp;&nbsp;(100) GREENSTONE GOLD MINES GP INC. | &nbsp;&nbsp;20.91 | &nbsp;&nbsp;$400 |

---

---

| | |
|:---|:---|
| 30-64 | ![](trfootimg.jpg) |

---

<u> Equinox Gold Corp. \| Greenstone PropertyNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 123.020701.00001</u>

![](trbackcover.jpg)

## Exhibit 99.2

**Exhibit 99.2**

![](exh992cover.jpg)

<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

**NI 43-101 Technical Report, Valentine Gold Mine, Newfoundland and Labrador, Canada**

SLR Project No.: 233.065583.00001

Prepared by

SLR Consulting (Canada) Ltd.

55 University Ave., Suite 501

Toronto, ON M5J 2H7

for

Equinox Gold Corp.

Suite 1501 – 700 West Pender St.

Vancouver, BC

V6C 1G8

Effective Date - December 31, 2025

Signature Date - March 30, 2026

---

| | |
|:---|:---|
| &nbsp;&nbsp; Prepared by:<br>Kelly Boychuk, P.Eng. MBA<br> Nicholas Capps, P. Geo.<br> Stuart Collins, PE<br> Jeffrey Colden, P.Eng.<br> Scott Davidson, M.Sc., P.Geo.<br> Niel de Bruin, P. Geo.<br> Tony Gilman, M.Sc., P.Eng., P.Geo.<br> Neil Lincoln, P.Eng.<br> Grant A. Malensek, M.Eng., P.Eng.<br>Peer Reviewed by:<br>Mark B. Mathisen, CPG<br> Stuart Collins, PE<br> Linda Dufour, P.Eng.<br> Ezra Coyle, RPEQ, RPEQ, CPEng, PE<br> Mark Trevor, CPG, SME QP<br>| &nbsp;&nbsp; Approved by:<br>Project Manager<br> Stuart Collins, PE<br>Project Director<br> Grant A. Malensek, P.Eng..<br>|

---

![](trfootimg.jpg)

<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

### **Table of Contents**

---

| | |
|:---|:---|
| **1.0 Summary** | **1-1** |
| 1.1 Executive Summary | 1-1 |
| 1.2 Economic Analysis | 1-9 |
| 1.3 Technical Summary | 1-11 |
| **2.0 Introduction** | **2-1** |
| 2.1 Site Visits | 2-3 |
| 2.2 List of Abbreviations | 2-4 |
| **3.0 Reliance on Other Experts** | **3-1** |
| **4.0 Property Description and Location** | **4-1** |
| 4.1 Location | 4-1 |
| 4.2 Land Tenure | 4-1 |
| 4.3 Royalties and Encumbrances | 4-3 |
| **5.0 Accessibility, Climate, Local Resources, Infrastructure and Physiography** | **5-1** |
| 5.1 Accessibility | 5-1 |
| 5.2 Climate | 5-1 |
| 5.3 Local Resources | 5-1 |
| 5.4 Infrastructure | 5-2 |
| 5.5 Physiography | 5-3 |
| **6.0 History** | **6-1** |
| 6.1 Prior Ownership | 6-1 |
| 6.2 Exploration and Development History | 6-2 |
| 6.3 Historical Resource Estimates | 6-29 |
| 6.4 Past Production | 6-30 |
| **7.0 Geological Setting and Mineralization** | **7-1** |
| 7.1 Regional Geology | 7-1 |
| 7.2 Local Geology | 7-4 |
| 7.3 Property Geology | 7-6 |
| 7.4 Marathon Deposit | 7-16 |
| 7.5 Leprechaun Deposit | 7-19 |
| 7.6 Berry Deposit | 7-23 |
| 7.7 Frank Zone | 7-26 |
| **8.0 Deposit Types** | **8-1** |
| **9.0 Exploration** | **9-1** |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

---

| | |
|:---|:---|
| **10.0 Drilling** | **10-1** |
| 10.1 Diamond Drilling Procedures | 10-8 |
| **11.0 Sample Preparation, Analyses, and Security** | **11-1** |
| 11.1 Sample Preparation and Analysis | 11-1 |
| 11.2 Quality Assurance and Quality Control | 11-4 |
| 11.3 Qualified Person Opinion | 11-11 |
| **12.0 Data Verification** | **12-1** |
| 12.1 Introduction | 12-1 |
| 12.2 Database Validation – 2022 Mineral Resource Estimate | 12-1 |
| 12.3 Database Validation – 2025 Mineral Resource Estimate | 12-2 |
| 12.4 Qualified Persons' Review and Conclusion on Database Verification | 12-4 |
| **13.0 Mineral Processing and Metallurgical Testing** | **13-1** |
| 13.1 2019 Metallurgical Test Work Program | 13-2 |
| 13.2 2022 Metallurgical Test Work Program | 13-8 |
| 13.3 Recommendations | 13-23 |
| **14.0 Mineral Resource Estimates** | **14-1** |
| 14.1 Resource Database | 14-1 |
| 14.2 Lithology Modelling | 14-4 |
| 14.3 Mineralization Modelling | 14-4 |
| 14.4 Bulk Density | 14-9 |
| 14.5 Grade Capping of Outlier Samples | 14-10 |
| 14.6 Composites | 14-14 |
| 14.7 Variography and Search Ellipsoids | 14-18 |
| 14.8 Grade Estimation | 14-22 |
| 14.9 Block Model Validations | 14-28 |
| 14.10 Mineral Resource | 14-41 |
| 14.11 QP Conclusion | 14-48 |
| **15.0 Mineral Reserve Estimates** | **15-1** |
| 15.1 Introduction | 15-1 |
| 15.2 Mineral Reserves Statement | 15-2 |
| 15.3 Factors that May Affect the Mineral Reserve Estimates | 15-2 |
| **16.0 Mining Methods** | **16-1** |
| 16.1 Key Design Criteria | 16-1 |
| 16.2 Pit Optimization | 16-7 |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

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| | |
|:---|:---|
| 16.3 Pit Designs | 16-9 |
| 16.4 Ex-Pit Haul Roads | 16-34 |
| 16.5 Ore Storage Facilities | 16-34 |
| 16.6 Waste Storage Facilities and Stockpiles | 16-35 |
| 16.7 Production Schedule | 16-38 |
| 16.8 Operations | 16-68 |
| 16.9 Mining Equipment | 16-70 |
| **17.0 Recovery Methods** | **17-1** |
| 17.1 Overview | 17-1 |
| 17.2 Plant Design Criteria | 17-4 |
| 17.3 Process Description | 17-5 |
| 17.4 Reagents | 17-10 |
| 17.5 Services and Utilities | 17-13 |
| 17.6 Plant Consumption | 17-14 |
| **18.0 Project Infrastructure** | **18-1** |
| 18.1 Access Roads | 18-1 |
| 18.2 Power | 18-1 |
| 18.3 Water | 18-1 |
| 18.4 Process and Mining Buildings | 18-2 |
| 18.5 Accommodation Camp | 18-2 |
| 18.6 Tailings | 18-2 |
| **19.0 Market Studies and Contracts** | **19-1** |
| **20.0 Environmental Studies, Permitting, and Social or Community Impact** | **20-1** |
| 20.1 Site Environmental Conditions and Monitoring Programs | 20-1 |
| 20.2 Environmental Approvals | 20-12 |
| 20.3 Waste and Waste Management | 20-14 |
| 20.4 Social and Community Considerations | 20-15 |
| 20.5 Closure, Decommissioning, and Reclamation | 20-16 |
| **21.0 Capital and Operating Costs** | **21-1** |
| 21.1 Capital Cost Summary | 21-1 |
| 21.2 Process Plant Phase 2 Initial Capital Schedule | 21-3 |
| 21.3 Process Plant Phase 2 Initial Capital | 21-4 |
| 21.4 Infrastructure Initial Capital | 21-4 |
| 21.5 Process Plant Contingency and Owner's Reserve | 21-4 |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

---

| | |
|:---|:---|
| 21.6 Reclamation and Closure | 21-5 |
| 21.7 Operating Cost | 21-5 |
| 21.8 Operating Cost Estimate Methodology | 21-6 |
| 21.9 Workforce | 21-6 |
| **22.0 Economic Analysis** | **22-1** |
| 22.1 Economic Criteria - Reference Case | 22-1 |
| 22.2 Cash Flow Analysis - Reference Case | 22-4 |
| 22.3 Sensitivity Analysis | 22-8 |
| **23.0 Adjacent Properties** | **23-1** |
| **24.0 Other Relevant Data and Information** | **24-1** |
| **25.0 Interpretation and Conclusions** | **25-1** |
| 25.1 Conclusions | 25-1 |
| 25.2 Risks | 25-5 |
| **26.0 Recommendations** | **26-1** |
| 26.1 Geology and Mineral Resources | 26-1 |
| 26.2 Mining and Mineral Reserves | 26-1 |
| 26.3 Mineral Processing | 26-2 |
| 26.4 Infrastructure | 26-2 |
| 26.5 Environment | 26-3 |
| 26.6 Capital and Operating Costs | 26-3 |
| **27.0 References** | **27-1** |
| **28.0 Date and Signature Date** | **28-1** |
| **29.0 Certificate of Qualified Person** | **29-1** |
| 29.1 Kelly Boychuk | 29-1 |
| 29.2 Nicholas Capps | 29-2 |
| 29.3 Jeffrey Colden | 29-3 |
| 29.4 Stuart Collins | 29-4 |
| 29.5 Scott Davidson | 29-5 |
| 29.6 Niel de Bruin | 29-6 |
| 29.7 Neil Lincoln | 29-7 |
| 29.8 Tony Gilman | 29-8 |
| 29.9 Grant A. Malensek | 29-9 |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

### Tables

---

| | |
|:---|:---|
| Table 1-1: Total Life of Mine Metrics | 1-11 |
| Table 1-2: Regression Lines and Extraction Predictions – Excluding Soluble Losses | 1-15 |
| Table 1-3: Consolidated Mineral Resource Estimate Exclusive of Mineral Reserves for the Valentine Gold Mine | 1-16 |
| Table 1-4: Summary of Mineral Reserves – Effective Date December 31, 2025 | 1-17 |
| Table 1-5: Mine Production Schedule | 1-20 |
| Table 2-1: Qualified Persons and Responsibilities | 2-1 |
| Table 4-1: Valentine Summary of Mining Leases | 4-1 |
| Table 4-2: Valentine Mineral License Summary | 4-2 |
| Table 6-1: Summary of Ownership History | 6-2 |
| Table 6-2: Summary of Historical Drill Holes Completed by Other Companies | 6-2 |
| Table 6-3: Summary of Best Gold Assay Highlights of Drilling Completed by Marathon Gold Corp at the Frank Zone | 6-8 |
| Table 7-1: Selection of Significant Fire Assay Gold Intervals, Marathon Deposit | 7-18 |
| Table 7-2: Selection of Significant Fire Assay Gold Intervals, Leprechaun Deposit | 7-22 |
| Table 7-3: Berry Zone Drilling Results | 7-25 |
| Table 10-1: Summary of Drilling by Target | 10-2 |
| Table 10-2: Summary of the Marathon, Leprechaun, and Berry Geological Databases used in the Updated Mineral Resource Estimations | 10-4 |
| Table 11-1: Summary of Valentine 2010 to 2025 QA/QC Diamond Drill Hole Samples Submitted for Analyses | 11-2 |
| Table 11-2: Summary of CRM Control Sample IDs used from 2010 to 2025 | 11-4 |
| Table 11-3: Summary of 2010–2025 CRM Performance at Eastern Analytical | 11-8 |
| Table 11-4: General Statistics of the 2021 Field Duplicate Program | 11-10 |
| Table 11-5: General Statistics of the 2021 Coarse Reject Duplicate Program | 11-10 |
| Table 13-1: Historical Test Work | 13-1 |
| Table 13-2: Sample Composition for Metallurgical Test Work | 13-2 |
| Table 13-3: Summary of Head Assays | 13-3 |
| Table 13-4: Mineral Proportions | 13-4 |
| Table 13-5: Summary of Comminution Test Results | 13-5 |
| Table 13-6: Batch Gravity Separation Results | 13-6 |
| Table 13-7: E-GRG Test Results | 13-7 |
| Table 13-8: Gravity Circuit Modelling Results at P80 75 and 150 μm Grind | 13-7 |
| Table 13-9: Cyanide Leach Tests used for Gravity - Leach Flowsheet | 13-7 |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

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| | |
|:---|:---|
| Table 13-10: Samples Used for Metallurgical Test Work – NQ ½ Core | 13-9 |
| Table 13-11: Samples Used for Comminution Test Work – HQ Core | 13-9 |
| Table 13-12: Head Assays – Berry Metallurgical Sample | 13-11 |
| Table 13-13: Head Assays – Berry Comminution Samples | 13-12 |
| Table 13-14: ICP Assays – Berry Samples | 13-12 |
| Table 13-15: Summary of Comminution Test Results | 13-14 |
| Table 13-16: Batch Gravity Tests for Berry Variability Samples (Left); and Comminution and Bulk Samples (Right) | 13-16 |
| Table 13-17: Gravity Circuit Modelling Results at P80 75 & 150 µm Grind | 13-18 |
| Table 13-18: Gravity-Leach Design Conditions | 13-19 |
| Table 13-19: Results of the Gravity-Leach Process on Berry Samples | 13-19 |
| Table 13-20: Regression Lines and Extraction Predictions – Excluding Soluble Losses | 13-23 |
| Table 14-1: Number of Drill Holes and Drill Metres with Close-Out Dates Per Deposit | 14-2 |
| Table 14-2: Number of Assays and Total Assay Length for the Deposits Used in yhe Mineral Resource Estimate | 14-4 |
| Table 14-3: Valentine Bulk Density Values per Domain and Lithological Unit | 14-10 |
| Table 14-4: Summary Statistics for the Uncapped Raw Assays Per Domain and Lithological Units | 14-11 |
| Table 14-5: Descriptive Statistics of QTPV Assay Top Cut Values for Each Deposit | 14-14 |
| Table 14-6: Summary Statistics for the Capped 1.0 m Composites for QTPV Domain | 14-15 |
| Table 14-7: High Yield Limit Parameters and Statistics | 14-18 |
| Table 14-8: Variogram Parameters for the QTP Veins for Each Deposit | 14-19 |
| Table 14-9: Variogram Parameters for Qtz-Monzonite and Trondhjemite Lithological Units Per Deposit | 14-20 |
| Table 14-10: Block Model Properties for Deposits at Valentine | 14-20 |
| Table 14-11: Search Ellipsoid Parameters for Leprechaun Deposit | 14-22 |
| Table 14-12: Search Ellipsoid Parameters for Sprite Deposit | 14-23 |
| Table 14-13: Search Ellipsoid Parameters for Berry Deposit | 14-23 |
| Table 14-14: Search Ellipsoid Parameters for Marathon Deposit | 14-24 |
| Table 14-15: Search Ellipsoid Parameters for Victory Deposit | 14-24 |
| Table 14-16: Summary of the Volume Variance between Wireframes and Block Model | 14-28 |
| Table 14-17: Summary Statistics of Global Metal Content for Different Models at the Valentine Gold Mine | 14-34 |
| Table 14-18: Mineral Resource Classification Parameters | 14-42 |
| Table 14-19: Input Parameters Used for the Pit Optimization and Underground Mineable Shapes | 14-43 |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

---

| | |
|:---|:---|
| Table 14-20: Consolidated Mineral Resource Estimate, Exclusive of Mineral Reserves – Effective Date December 31, 2025 | 14-44 |
| Table 14-21: Consolidated Mineral Resource Estimate, Inclusive of Mineral Reserves – Effective Date December 31, 2025 | 14-45 |
| Table 14-22: Mineral Resource Estimate by Deposit, Exclusive of Reserves – Effective Date December 31, 2025 | 14-46 |
| Table 14-23: Mineral Resource Estimate by Deposit, Inclusive of Mineral Reserves – Effective Date December 31, 2025 | 14-47 |
| Table 15-1: Summary of Mineral Reserves – Effective Date December 31, 2025 | 15-1 |
| Table 15-2: Proven & Probable Mineral Reserves within Designed Pits | 15-3 |
| Table 16-1: Leprechaun Bench Face Inter-Ramp Angle Inputs | 16-3 |
| Table 16-2: Berry Bench Face Inter-Ramp Angle Inputs | 16-3 |
| Table 16-3: Marathon Bench Face & Inter-Ramp Angle Inputs | 16-3 |
| Table 16-4: Price and Operating Cost Inputs into Pseudoflow Shell Runs | 16-8 |
| Table 16-5: Waste Facility Capacity and Scheduled Placement | 16-36 |
| Table 16-6: Mine Production Schedule | 16-40 |
| Table 16-7: Annual Mine Operations | 16-46 |
| Table 16-8: Primary Mining Fleet Schedule | 16-72 |
| Table 16-9: Support Equipment Schedule | 16-72 |
| Table 17-1: Key Process Design Criteria | 17-4 |
| Table 17-2: Plant Operating Load | 17-14 |
| Table 17-3: Reagents and Consumables Consumption | 17-14 |
| Table 20-1: Operational ARD/ML Characterization Program | 20-4 |
| Table 20-2: Environmental Approvals, Authorizations, and Permits for the Project | 20-12 |
| Table 21-1: Life-of-Mine Capital Cost Estimate | 21-1 |
| Table 21-2: Phase 2 Capital Costs | 21-2 |
| Table 21-3: Process Plant and Infrastructure Phase 2 Initial Capital Schedule | 21-3 |
| Table 21-4: Process Plant Phase 2 Initial Capital Breakdown | 21-4 |
| Table 21-5: Infrastructure Phase 2 Initial Capital Breakdown | 21-4 |
| Table 21-6: LOM Average Unit Operating Costs | 21-5 |
| Table 21-7: Operations Workforce | 21-6 |
| Table 22-1: Valentine Production Physicals Summary | 22-2 |
| Table 22-2: Valentine Federal and State Tax Summary | 22-3 |
| Table 22-3: Total Life of Mine Metrics | 22-7 |
| Table 22-4: All-in Sustaining Costs Composition | 22-8 |
| Table 22-5: After-Tax Sensitivity Analyses | 22-9 |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

### Figures

---

| | |
|:---|:---|
| Figure 1-1: Cash Flow summary | 1-10 |
| Figure 1-2: Mine Production Schedule, Total Material Movement & Strip Ratio (All Pits) | 1-19 |
| Figure 1-3: Overall Site Layout | 1-21 |
| Figure 4-1: Location Map | 4-5 |
| Figure 4-2: Land Tenure Map | 4-6 |
| Figure 6-1: First Vertical Derivative Aeromagnetic Data for the Valentine Gold Mine Property | 6-5 |
| Figure 6-2: Geological Map of the Leprechaun Area | 6-10 |
| Figure 6-3: Geological Map of the Frank Zone | 6-11 |
| Figure 6-4: Geological Map of the Marathon Area | 6-12 |
| Figure 6-5: Geological Map of the Sprite Zone | 6-13 |
| Figure 6-6: Grab Sample Results from Valentine Sampling Program from 2010 to 2025 by Marathon Gold and Calibre Mining | 6-15 |
| Figure 6-7: Location of Prospect Areas and Other Deposits | 6-17 |
| Figure 6-8: Till Samples Collected Over Valentine Property, Total Au Grain Count, collected by Marathon Gold Corp. | 6-19 |
| Figure 6-9: Example of Channel Sample Results from Frank Zone, collected by Marathon Gold Corp. | 6-21 |
| Figure 6-10: 2024 Airborne Magnetics Survey Showing Interpreted Regional-Scale Cross Faults | 6-23 |
| Figure 6-11: 2021 Airborne Magnetic Data Over Valentine Gold Mine Project Area | 6-24 |
| Figure 6-12: Richmond Mines (2007) Total Field Airborne Magnetic Data | 6-25 |
| Figure 6-13: Ground Magnetic Data over Sprite, Berry, and Marathon Deposits | 6-26 |
| Figure 6-14: 2024 Airborne VLF Survey showing: a) In-Phase and b) Quadrature | 6-28 |
| Figure 7-1: Major Tectonic Subdivisions of Newfoundland & Location of Valentine Gold Property | 7-2 |
| Figure 7-2: Geology, Major Structures, and Gold Occurrences in the Central Newfoundland Gold Trend | 7-3 |
| Figure 7-3: Regional Geology of the Valentine Gold Property | 7-4 |
| Figure 7-4: Regional Geochronology of the Dunnage Zone and Valentine Property | 7-6 |
| Figure 7-5: Geology and Gold Showings of the Project | 7-7 |
| Figure 7-6: Phases of Deformation shown by Northwest-Southeast Oriented Section | 7-9 |
| Figure 7-7: Outcrop at Frank Zone showing Relationship between SW-dipping S<sub>1</sub> Veins and NW-dipping S<sub>2</sub> Veins | 7-11 |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

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| | |
|:---|:---|
| Figure 7-8: Illustrated Figure of Outcrop at Frank Zone showing Relationship between SW-dipping S<sub>1</sub> Veins and NW-dipping S<sub>2</sub> Veins | 7-12 |
| Figure 7-9: Schematic Illustration of the Geometrical Relationship between Mafic Dykes and Veins | 7-14 |
| Figure 7-10: Examples of Mineralization in Outcrop | 7-15 |
| Figure 7-11: Section Showing Geology of the Marathon Deposit | 7-17 |
| Figure 7-12: Section Showing Geology of the Leprechaun Deposit | 7-20 |
| Figure 7-13: Section showing the Geology and Mineralized Zones of Quartz-Tourmaline-Pyrite-Gold-Bearing Veins at the Leprechaun Deposit | 7-21 |
| Figure 7-14: Section showing the Geology and Mineralized Zones of Quartz-Tourmaline-Pyrite-Gold-Bearing Veins at the Berry Deposit | 7-24 |
| Figure 7-15: Section showing the Geology and Mineralized Zones of Quartz-Tourmaline-Pyrite Gold-Bearing Veins at the Frank Zone | 7-27 |
| Figure 8-1: Gold Mineralization in Central Newfoundland, Dunnage Zone | 8-1 |
| Figure 10-1: Diamond Drill Holes Completed by Equinox at the Marathon Deposit | 10-5 |
| Figure 10-2: Diamond Drill Holes Completed by Equinox at the Leprechaun Deposit | 10-6 |
| Figure 10-3: Diamond Drill Holes Completed by Equinox at the Berry Deposit | 10-7 |
| Figure 11-1: Control Chart of Coarse Blank Sample Material Au Assay Results, 2022–2025 | 11-6 |
| Figure 11-2: Control Chart for GS-9B from 2017 to 2024 | 11-7 |
| Figure 11-3: Control Chart of Au Assay Results for CRM GS-P2B in 2024 | 11-9 |
| Figure 13-1: Berry Sample Locations | 13-8 |
| Figure 13-2: Batch Gravity Recovery vs. Calculated Head Grade | 13-16 |
| Figure 13-3: E-GRG Test Results – Berry 2022 and Marathon & Leprechaun Zone Data from 2019 and 2021 | 13-18 |
| Figure 13-4: Extraction of Gold from Berry Samples Using Gravity-Leach Process | 13-20 |
| Figure 13-5: Kinetics of Gold Extraction from Gravity Tailings (SGS Project 19407-01) | 13-22 |
| Figure 13-6: Impact of Gravity Tailings Leach Time on Tailings Assay and Overall Gold Extraction | 13-22 |
| Figure 13-7: Grade Extraction for Gravity-Leach Flowsheet | 13-23 |
| Figure 14-1: Vertical Section Longitudinal View of Drill Holes in the Valentine Gold Mine | 14-2 |
| Figure 14-2: Plan View of Drill Holes in the Valentine Gold Mine | 14-3 |
| Figure 14-3: Berry Deposit QTPV Domains and Set 1 Vein Structural Model | 14-6 |
| Figure 14-4: Vertical Section of the Leprechaun Deposit with Resource Pit Shell | 14-6 |
| Figure 14-5: Vertical Section of the Sprite Deposit with Resource Pit Shell | 14-7 |
| Figure 14-6: Vertical Section of the Berry Deposit with Resource Pit Shell | 14-7 |
| Figure 14-7: Vertical Section of the Marathon Deposit with Resource Pit Shell | 14-8 |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

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| | |
|:---|:---|
| Figure 14-8: Vertical Section of the Victory Deposit with Resource Pit Shell | 14-8 |
| Figure 14-9: Leprechaun QTPV Grade Capping Plots | 14-12 |
| Figure 14-10: Sprite QTPV Grade Capping Plots | 14-12 |
| Figure 14-11: Berry QTPV Grade Capping Plots | 14-13 |
| Figure 14-12: Marathon QTPV Grade Capping Plots | 14-13 |
| Figure 14-13: Victory QTPV Grade Capping Plots | 14-14 |
| Figure 14-14: Log Probability Plot Comparing the QTPV Assays and Composites in Marathon Domain | 14-16 |
| Figure 14-15: Marathon QTPV High Yield Capping Plots | 14-17 |
| Figure 14-16: Indicator Variogram for Marathon Deposit | 14-17 |
| Figure 14-17: Example of Variogram for the QTPV Domain in Berry deposit | 14-19 |
| Figure 14-18: Vertical Section of Leprechaun Deposit Showing Estimated Block Grades | 14-25 |
| Figure 14-19: Vertical section of Sprite Deposit Showing Estimated Block Grades, | 14-26 |
| Figure 14-20: Vertical section of Berry Deposit Showing Estimated Block Grade | 14-26 |
| Figure 14-21: Vertical section of Marathon Deposit Showing Estimated Block Grades | 14-27 |
| Figure 14-22: Vertical section of Victory Deposit Showing Estimated Block Grades | 14-27 |
| Figure 14-23: Validation Section of Leprechaun Deposit at 20 m width Showing Estimated Block Grade, Drill Holes, and 2025 Pit Design | 14-29 |
| Figure 14-24: Validation Section of Sprite Deposit at 20 m width Showing Estimated Block Grade, Drill Holes, and 2025 Pit Design | 14-30 |
| Figure 14-25: Validation Section of Berry Deposit at 20 m width Showing Estimated Block Grade, Drill Holes, and 2025 Pit Design | 14-31 |
| Figure 14-26: Validation Section of Marathon Deposit at 20 m width Showing Estimated Block Grade, Drill Holes, and 2025 Pit Design | 14-32 |
| Figure 14-27: Validation Section of Victory Deposit at 20 m width Showing Estimated Block Grade, Drill Holes, and 2025 Pit Design | 14-33 |
| Figure 14-28: Swath Plots for Leprechaun at the Valentine Mine | 14-35 |
| Figure 14-29: Swath Plots for Sprite Deposit at the Valentine Mine | 14-36 |
| Figure 14-30: Swath Plots for Berry Deposit at the Valentine Mine | 14-36 |
| Figure 14-31: Swath Plots for Marathon Deposit at the Valentine Mine | 14-37 |
| Figure 14-32: Swath Plots for Victory Deposit at the Valentine Mine | 14-37 |
| Figure 14-33: Q–Q plots Comparing Composite Dataset with Block Model Values for Leprechaun Deposit | 14-38 |
| Figure 14-34: Q–Q Plots Comparing Composite Dataset with Block Model Values for Sprite Deposit | 14-39 |
| Figure 14-35: Q–Q Plots Comparing Composite Dataset with Block Model Values for Berry Deposit | 14-39 |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

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| | |
|:---|:---|
| Figure 14-36: Q–Q Plots Comparing Composite Dataset with Block Model Values for Marathon Deposit | 14-40 |
| Figure 14-37: Q–Q Plots Comparing Composite Dataset with Block Model Values for Victory Deposit | 14-41 |
| Figure 16-1: Pit Slope Design Sectors - Leprechaun | 16-4 |
| Figure 16-2: Pit Slope Design Sectors – Berry | 16-5 |
| Figure 16-3: Pit Slope Design Sectors – Marathon | 16-6 |
| Figure 16-4: Leprechaun Pseudoflow Pit Shell Resource Contents by Case | 16-8 |
| Figure 16-5: Berry Pseudoflow Pit Shell Resource Contents by Case | 16-9 |
| Figure 16-6: Marathon Pseudoflow Pit Shell Resource Contents by Case | 16-9 |
| Figure 16-7: Designed Phase Pit Contents (All Deposits) | 16-10 |
| Figure 16-8: Leprechaun Phase 1 Pit, L631 | 16-11 |
| Figure 16-9: Leprechaun Phase 2 Pit, L632 | 16-12 |
| Figure 16-10: Leprechaun Phase 3 Pit, L633 | 16-13 |
| Figure 16-11: Leprechaun Pit Designs, North-South Section 1 | 16-14 |
| Figure 16-12: Leprechaun Pit Designs, North-South Section 2 | 16-15 |
| Figure 16-13: Leprechaun Pit Designs, East-West Section 1 | 16-16 |
| Figure 16-14: Leprechaun Pit Designs, East-West Section 2 | 16-16 |
| Figure 16-15: Berry Phase 1 Pit, B631 | 16-18 |
| Figure 16-16: Berry Phase 2 Pit, B632 | 16-19 |
| Figure 16-17: Berry Phase 3 Pit, B633 | 16-20 |
| Figure 16-18: Berry Phase 4 Pit, B634 | 16-21 |
| Figure 16-19: Berry Phase 5 Pit, B635 | 16-22 |
| Figure 16-20: Berry Pit Designs, North-South Section 1 | 16-23 |
| Figure 16-21: Berry Pit Designs, North-South Section 2 | 16-24 |
| Figure 16-22: Berry Pit Designs, North-South Section 3 | 16-25 |
| Figure 16-23: Berry Pit Designs, East-West Section 1 | 16-25 |
| Figure 16-24: Berry Pit Designs, East-West Section 2 | 16-26 |
| Figure 16-25: Berry Pit Designs, East-West Section 3 | 16-26 |
| Figure 16-26: Berry Pit Designs, East-West Section 4 | 16-27 |
| Figure 16-27: Berry Pit Designs, East-West Section 5 | 16-27 |
| Figure 16-28: Marathon Phase 1 Pit, M631 | 16-28 |
| Figure 16-29: Marathon Phase 2 Pit, M632 | 16-29 |
| Figure 16-30: Marathon Phase 3 Pit, M633 | 16-30 |
| Figure 16-31: Marathon Phase 4 Pit, M634 | 16-31 |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

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| | |
|:---|:---|
| Figure 16-32: Marathon Pit Designs, North-South Section 1 | 16-31 |
| Figure 16-33: Marathon Pit Designs, North-South Section 2 | 16-32 |
| Figure 16-34: Marathon Pit Designs, North-South Section 3 | 16-33 |
| Figure 16-35: Marathon Pit Designs, East-West Section 1 | 16-33 |
| Figure 16-36: Marathon Pit Designs, East-West Section 2 | 16-34 |
| Figure 16-37: Overall Site Layout Plan | 16-37 |
| Figure 16-38: Production Schedule, Mill Feed Tonnes & Grade (All Pits) | 16-42 |
| Figure 16-39: Mine Production Schedule, Total Material Movement & Strip Ratio (All Pits) | 16-42 |
| Figure 16-40: Leprechaun Production Schedule, Ore Mined Tonnes & Grade | 16-43 |
| Figure 16-41: Leprechaun Mine Production Schedule, Total Material Movement & Strip Ratio | 16-43 |
| Figure 16-42: Berry Production Schedule, Ore Mined Tonnes & Grade | 16-44 |
| Figure 16-43: Berry Mine Production Schedule, Toal Material Movement & Strip Ratio | 16-44 |
| Figure 16-44: Marathon Production Schedule, Ore Mined Tonnes & Grade | 16-45 |
| Figure 16-45: Marathon Mine Production Schedule, Total Material Movement & Strip Ratio | 16-45 |
| Figure 16-46: Leprechaun Layout Plan | 16-47 |
| Figure 16-47: Berry Layout Plan | 16-48 |
| Figure 16-48: Marathon Layout Plan | 16-49 |
| Figure 16-49: Leprechaun End of Period – 2026 | 16-50 |
| Figure 16-50: Leprechaun End of Period – 2027 | 16-51 |
| Figure 16-51: Leprechaun End of Period – 2028 | 16-52 |
| Figure 16-52: Leprechaun End of Period – 2029 | 16-53 |
| Figure 16-53: Leprechaun End of Period – 2030 | 16-54 |
| Figure 16-54: Leprechaun End of Period – 2037 | 16-55 |
| Figure 16-55: Berry End of Period – 2026 | 16-56 |
| Figure 16-56: Berry End of Period – 2027 | 16-57 |
| Figure 16-57: Berry End of Period – 2028 | 16-58 |
| Figure 16-58: Berry End of Period – 2029 | 16-59 |
| Figure 16-59: Berry End of Period – 2030 | 16-60 |
| Figure 16-60: Berry End of Period – 2037 | 16-61 |
| Figure 16-61: Marathon End of Period – 2026 | 16-62 |
| Figure 16-62: Marathon End of Period – 2027 | 16-63 |
| Figure 16-63: Marathon End of Period – 2028 | 16-64 |
| Figure 16-64: Marathon End of Period – 2029 | 16-65 |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

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| Figure 16-65: Marathon End of Period – 2030 | 16-66 |
| Figure 16-66: Marathon End of Period – 2037 | 16-67 |
| Figure 17-1: Process Flow Sheet | 17-3 |
| Figure 18-1: Completed TMF for Tailings Deposition (October 2025) | 18-5 |
| Figure 20-1: Project Area Geology and Geomorphology | 20-2 |
| Figure 20-2: Groundwater Monitoring | 20-7 |
| Figure 22-1: Revenue Forecast | 22-2 |
| Figure 22-2: Operating Cost Forecast | 22-3 |
| Figure 22-3: Mine Production Profile by Material Movement | 22-4 |
| Figure 22-4: Gold Production Profile | 22-4 |
| Figure 22-5: Annual Processing Gold Production and Head Grade Profile | 22-5 |
| Figure 22-6: Revenue, Cost and Cash Flow Forecast | 22-6 |
| Figure 22-7: Project After-Tax Metrics Summary | 22-6 |
| Figure 22-8: Cash Flow Summary | 22-7 |
| Figure 22-9: After-Tax Sensitivity Analysis | 22-10 |
| Figure 22-10: After-Tax Discount Rate Sensitivity Analysis | 22-10 |
| Figure 23-1: Map of EQX Staked Mineral Licenses and Surrounding Licenses Owned by Other Entities | 23-2 |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

1.0 Summary

1.1 Executive Summary

SLR Consulting (Canada) Ltd. (SLR) was retained by Equinox Gold Corp. (Equinox) to prepare a Technical Report on the Valentine Gold Mine (Valentine or the Project), located in central Newfoundland, Canada. The purpose of this Technical Report is to document and summarize the scientific and technical information for the current operations and planned future developments, as well as to document the Mineral Resources and Mineral Reserve estimates as at the effective date of the report, December 31, 2025 (the Effective Date). This Technical Report has been prepared in accordance with NI 43-101 Standards of Disclosure for Mineral Projects.

This Technical Report has been prepared for by the qualified persons (QPs) from SLR, Equinox, Moose Mountain Technical Services (MMTS), Terrane Geosciences Inc. (Terrane), and Lincoln Metallurgical Inc. (Lincoln). Equinox Gold Corp. (TSX: EQX; NYSE American: EQX) is a Canadian-based gold mining company with a diversified portfolio of long-life operations and growth projects across the Americas.

The 2025 Mineral Resource Estimate was prepared using Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards for Mineral Resources and Mineral Reserves (CIM (2014) definitions). The geological model reflects current understanding of lithological controls and QTP vein systems, and the supporting drill hole database is considered reliable following comprehensive QA/QC validation. Estimation methods, including grade capping, compositing, variography, dynamic anisotropy, and inverse-distance interpolation, produced a robust and unbiased block model with strong reconciliation with geological wireframes.

Open pit mining operations at the Valentine Gold Mine commenced in April 2025 using conventional drill-and-blast, truck-and-shovel mining methods. Ore and waste are mined from the Valentine deposits, with ore delivered to the primary crusher and process plant and waste placed in designated waste storage facilities. Following successful commissioning and ramp-up of the processing facilities, the operation achieved commercial production in November 2025.

Metallurgical test work confirms that ore from the Marathon, Leprechaun, and Berry deposits are amenable to conventional gravity and cyanidation flowsheet to extract gold to produce doré, with overall gold recoveries exceeding 90%. The Process Plant, with a nominal capacity of 2.5 million tonnes per annum (Mt/a), was commissioned in 2025 and achieved commercial production on November 18, 2025. Studies are underway to increase nominal throughput to 5 Mt/a through comminution and carbon-in-leach (CIL) circuit upgrades (the Phase 2 Plant Expansion).

Site infrastructure includes hydroelectric power supplied from the Star Lake generating station, a tailings management facility (TMF) designed in accordance with Canadian Dam Association (CDA) guidelines, and water management systems utilizing water reclaimed from the TMF and fresh water from Victoria Lake. Environmental management programs are in place to ensure compliance with federal and provincial approvals and include extensive monitoring and adaptive management plans addressing water quality, acid rock drainage and metal leaching (ARD/ML) potential, air quality, and ecological effects. The mine is expected to employ several hundred workers and represents a significant economic contributor to the region. Recommendations focus on continued exploration, improved resource definition, metallurgical optimization, tailings management planning, and ongoing environmental monitoring to support long-term mine. operations.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

This report supersedes the previous technical report titled "Valentine Gold Project, NI 43-101 Technical Report and Feasibility Study," dated November 30, 2022 (the 2022 Technical Report) [Marathon 2022]). All currency in this Technical Report is US dollars (US$ or USD) unless otherwise noted.

1.1.1 Conclusions

1.1.1.1 Geology and Mineral Resources

&nbsp;&nbsp;&nbsp;&nbsp;· The 2025 Mineral Resource Estimate for the Valentine Gold Mine was completed in accordance with the CIM (2014) definitions, follows the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (CIM 2019), and meets all disclosure requirements under NI 43-101.

&nbsp;&nbsp;&nbsp;&nbsp;· The QP considers the drill hole database supporting the estimate to be reliable, with comprehensive validation of assays, surveys, geological logs, and QA/QC results having been completed.

&nbsp;&nbsp;&nbsp;&nbsp;· Geological and mineralization models accurately reflect current understanding of lithological controls, QTPV system geometries, and structural orientations across all deposits.

&nbsp;&nbsp;&nbsp;&nbsp;· Estimation methodology, including grade capping, 1 m compositing, variography, dynamic anisotropy, and ID³ interpolation, provides a robust and unbiased representation of gold mineralization at existing drill density.

&nbsp;&nbsp;&nbsp;&nbsp;· Block model validation (volume reconciliation, statistical checks, swath plots, quantile–quantile (Q–Q) analysis, and visual review show no material global or local bias, with volumes reconciling within 0.1% of wireframes.

&nbsp;&nbsp;&nbsp;&nbsp;· Mineral Resources were constrained within Whittle-optimized open-pit shells and underground stope shapes, demonstrating reasonable prospects for eventual economic extraction using appropriate economic assumptions.

&nbsp;&nbsp;&nbsp;&nbsp;· Resource classification appropriately reflects geological confidence, data density, and estimation performance, consistent with CIM (2014) definition.

&nbsp;&nbsp;&nbsp;&nbsp;· The Valentine Gold Mine deposits (Marathon, Leprechaun, Berry, Sprite, and Victory) form part of a district-scale mineralized corridor associated with the Valentine Lake Shear Zone, indicating potential for further exploration growth along strike and at depth, as well as along previously unrecognized second- and third-order structures.

&nbsp;&nbsp;&nbsp;&nbsp;· Exploration, drilling procedures, and QA/QC controls are considered consistent with industry best practices and sufficient for Mineral Resource estimation.

&nbsp;&nbsp;&nbsp;&nbsp;· The resulting 2025 Mineral Resource estimate provides a defensible basis for mine planning and Mineral Reserve estimation.

1.1.1.2 Mining and Mineral Reserves

&nbsp;&nbsp;&nbsp;&nbsp;· Proven and Probable Mineral Reserves have been converted from Measured and Indicated Mineral Resources at Leprechaun, Berry and Marathon. Inferred Mineral Resources are treated as waste.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;· Factors that may affect the Mineral Reserve estimates include metal prices, changes in interpretations of mineralization geometry and continuity of mineralization zones, geotechnical and hydrogeological assumptions, ability of the mining operation to meet the annual production rate, operating cost assumptions, process plant and mining recoveries, the ability to meet and maintain permitting and environmental license conditions, and the ability to maintain the social license to operate.

&nbsp;&nbsp;&nbsp;&nbsp;· Open pit mine plans, mine production schedules, and mine capital and operating costs have been developed for the Mineral Reserves estimates at Leprechaun, Berry and Marathon.

&nbsp;&nbsp;&nbsp;&nbsp;· Pit layouts and mine operations are typical of other open pit gold operations in Canada, and the unit operations within the developed mine operating plan were based on site experience to date.

&nbsp;&nbsp;&nbsp;&nbsp;· The mine plan supports the cash flow model and financials.

1.1.1.3 Mineral Processing

&nbsp;&nbsp;&nbsp;&nbsp;· The process plant currently treats ore via a conventional comminution-gravity-cyanidation flowsheet and has been designed to nominally treat 2.5 Mt/a of ore. Run-of-mine (ROM) ore is processed via conventional primary crushing and two-stage grinding circuit followed by a gravity concentration circuit. Gravity circuit tailings are treated via cyanidation and a carbon-in-leach (CIL) circuit and associated gold recovery and carbon handling circuits to produce gold doré. CIL tailings are treated via a cyanide destruction process prior to storage in the tailings management facility (TMF).

&nbsp;&nbsp;&nbsp;&nbsp;· Plant construction was completed in Q3 2025, and the first gold pour was achieved on September 15, 2025. Commercial production, representing 80% nameplate capacity, was achieved on November 18th, 2025. Studies are underway to increase nominal plant throughput from 2.5 Mt/a to 5.0 Mt/a

&nbsp;&nbsp;&nbsp;&nbsp;· The development of the current process plant flowsheet was underpinned by comprehensive metallurgical test work programs completed during previous feasibility studies. Metallurgical test work programs were conducted on representative mineralized core samples from Leprechaun, Marathon and Berry deposits. Metallurgical test work results have demonstrated that mineralized samples from the various Valentine Gold deposits is free milling and amenable to conventional cyanidation.

&nbsp;&nbsp;&nbsp;&nbsp;· The current comminution circuit design (primary crushing-SAG-Ball milling) was based on extensive comminution test work. Ore competency is high. Ore hardness in terms of RWI and BWI is considered moderate. Ore abrasion is moderately high.

&nbsp;&nbsp;&nbsp;&nbsp;· The ore is amenable to recovery by gravity concentration and is supported by extended gravity recoverable gold (E-GRG) tests.

&nbsp;&nbsp;&nbsp;&nbsp;· The current leach-CIL circuit was based on cyanidation leaching test work. The nominal overall gold extraction (gravity recovery plus gravity tails leaching) that the plant was designed is 93%.

&nbsp;&nbsp;&nbsp;&nbsp;· The proposed plant expansion is based on previously completed metallurgical test work and is expected to treat a nominal 5 Mt/a ore and achieve an overall gold extraction of 93%.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

1.1.1.4 Infrastructure

&nbsp;&nbsp;&nbsp;&nbsp;· Power to the mine is supplied by Newfoundland and Labrador's Star Lake hydroelectric generation station and is transmitted to the mine site via a transmission line. The current mine's power supply is 19.0 MW for peak demand. For the planned Phase 2 Process Plant Expansion, an additional 13.0 MW for peak demand is anticipated.

&nbsp;&nbsp;&nbsp;&nbsp;· The primary source of water to meet the Process Plant's water demand is the reclaimed water from the TMF tailings pond, and the secondary source is fresh water from NL Hydro's Victoria Lake reservoir.

&nbsp;&nbsp;&nbsp;&nbsp;· Water management is performed by collecting surface contact water runoff from facilities and containing the contact water within sedimentation ponds to minimize total suspended solids prior to controlled water release into the receiving environment.

&nbsp;&nbsp;&nbsp;&nbsp;· As with the other main infrastructure, the administration building, laboratory, truck wash, explosives storage and fuel station have been sized to support the mine and process operation. Construction of a permanent truck shop is underway. Installation of a permanent operations camp is underway and will phase out some of the accommodation in the construction camp.

&nbsp;&nbsp;&nbsp;&nbsp;· The TMF has been designed in accordance with CDA guidelines and the stability of the dams meets the target factors of safety required as per CDA. Tailings deposition plans have been developed to establish wide tailings beaches adjacent to the rockfill containment dams and to maintain the water pond against natural ground and away from the dams.

&nbsp;&nbsp;&nbsp;&nbsp;· A seepage and surface water runoff collection ditch is installed downstream of the TMF to collect any water into a collection sump where it is pumped back into the TMF reservoir.

&nbsp;&nbsp;&nbsp;&nbsp;· After pre-treatment of process water for dissolved metals and cyanide destruction, biological treatment of process water with a submerged attached growth reactor (SAGR) will reduce the overall ammonia concentration to non-toxic levels.

&nbsp;&nbsp;&nbsp;&nbsp;· With the increase of required tailings storage capacity beyond the current design capacity of the TMF, tailings deposition would transition into the Berry pit once the pit has been mined out.

1.1.1.5 Environment

&nbsp;&nbsp;&nbsp;&nbsp;· Compliance-based environmental management is in place for operations: Since achieving commercial operation in November 2025, Valentine's environmental programs are structured around compliance obligations under approvals stemming from the federal EIS/EA (released August 24, 2022) and provincial EA (released March 17, 2022), plus subsequent permit/authorization requirements and annual regulatory submissions; the site operates under a formal monitoring framework that spans operations through closure.

&nbsp;&nbsp;&nbsp;&nbsp;· Follow-up monitoring and adaptive management are extensive and formalized: The Project has developed 11 environmental follow-up monitoring plans (FMPs) plus 13 additional plans that define protection measures, compliance/effects monitoring, and contingency actions; the plans are "living documents" intended to be refined with permit amendments, monitoring changes, and evolving best practices, with contingency measures triggered if monitoring indicates deviations that may cause adverse effects.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;· Acid Rock Drainage/Metal Leaching (ARD/ML) outcomes show low potential acid generating (PAG) overall at Marathon/Leprechaun, higher at Berry, and tailings non-PAG (but water-quality exceedances are expected): Estimated potentially acid-generating (PAG) waste rock is approximately 1.5% to 4% at Marathon and approximately 1.0% at Leprechaun, while Berry is approximately 11% PAG/uncertain (ABA-based; Quartz Monzonite (Q-MONZ) and Quartz-Tourmaline-Pyrite (QTP) units highest at approximately 19% to 20% PAG samples). Tailings composites are classified as non-PAG, and mixing of Marathon/Berry/Leprechaun ores is expected to keep tailings non-PAG; however, during operations, arsenic, copper, and total cyanide in TMF are expected to exceed Metal and Diamond Mining Effluent Regulations (MDMER) limits, and tailings management facility (TMF) pond discharge modelling predicts exceedances of multiple Canadian Water Quality Guidelines (CWQG) parameters—an assimilative capacity study indicates
treated effluent meeting MDMER would fall below CWQG/background within approximately 300 m of the regulatory mixing zone. An operational ARD/ML sampling program is defined (e.g., waste rock: 1 per 9,000 t; ore: 1 per 9,000 t; tailings end-of-pipe: 1 per 48,000 t in years 1–3, then 1 per 77,000 t).

&nbsp;&nbsp;&nbsp;&nbsp;· Environmental monitoring results in 2025 were largely consistent with EA predictions, with specific noted exceptions/events: Ambient air monitoring in 2025 reported 24-hour Total Suspended Particulates (TSP) results below the Newfoundland and Labrador Ambient Air Quality Standards (NL AAQS) 120 µg/m³ at project sites, with one exceedance at the Victory exploration site (approximately 5 km northeast of the mine) attributed to access-road traffic. Noise monitoring in 2025 identified episodic exceedances (% highly annoyed / potential wildlife disturbance) during peak construction-related activities, and modelled operations were predicted to meet Health Canada criteria at receptors, with the accommodations camp noted as exceeding the nighttime 45 dBA target. Surface water did not discharge from Final Discharge Points in 2025 because water-management infrastructure is still under construction; one extreme rainfall event (approximately 100 mm/24 h) resulted in sediment discharges
reported to Fisheries and Oceans Canada (DFO). A fish/fish-habitat sediment release in November 2025 resulted in a DFO cautionary letter (December 2025), and a later DFO inspection (December 2025) found the Project's mitigation efforts satisfactory.

&nbsp;&nbsp;&nbsp;&nbsp;· Permitting/engagement and closure planning are advanced and active: The Project has socio-economic agreements with two Indigenous communities (Miawpukek First Nation [MFN] and Qalipu First Nation [QFN]) and uses joint Environmental Sub-Committees; an Environmental Technician from QFN is employed, and an MFN technician position was filled June through December 2025 and is being refilled. Two prior Notices of Project Change were approved: communications tower (January 2023) and Berry Pit and infrastructure (August 2023). A further Notice of Change submitted in June 2025 was released from further provincial assessment in October 2025, with a federal decision expected in March 2026. Closure planning is anchored by an approved Rehabilitation and Closure Plan update, including Berry (submitted October 29, 2024; approved November 26, 2024), assuming an 18-year mine life; closure financial assurance is based on an estimated $94 million (C$125.9 million) closure cost (excluding resale/scrap) and
is being provided via scheduled annual payments.

1.1.1.6 Capital and Operating Costs

&nbsp;&nbsp;&nbsp;&nbsp;· Capital costs for the initial development have been spent, and the future spending is primarily for the Phase 2 Plant Expansion and for sustaining capital.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;· The average total cash costs for the LOM are expected to be US$1,580/oz.

1.1.2 Recommendations

The QPs offer the following recommendations by discipline:

1.1.2.1 Geology and Mineral Resources

1 Continue systematic exploration along strike of the VLSZ to extend open-pit limits and improve geological continuity between adjacent deposits.

2 Increase drilling density at depth to reduce sample spacing, enhance estimation confidence, and support potential expansion of underground resources.

3 Maintain ongoing evaluation of geological and resource models as additional production reconciliation data becomes available to improve model accuracy.

4 Increase acquisition of oriented core and televiewer data to validate structural interpretation of QTPV domains and identify localized variations where Set 2 or Set 3 vein orientations may dominate.

5 Evaluate alternative drilling orientations where existing drilling azimuths may not optimally intersect vein sets or structural controls.

6 Maintain rigorous QA/QC protocols, including standards, blanks, and check assays, to ensure the continued reliability of analytical data used for Mineral Resource estimation.

7 Increase drill density within high-grade zones where spacing remains wide to confirm grade distribution, continuity, and geometry of mineralized shoots.

8 Continue integrating exploration, structural studies, and geological mapping to refine mineralization domains used in resource modeling.

9 Evaluate new exploration targets identified through geophysics, till sampling, and structural interpretation, particularly outside the main shear zone trend.

1.1.2.2 Mining and Mineral Reserves

1 Conduct geotechnical monitoring and field data collection of the open pit walls throughout the life of the open pits.

2 Continue to implement the following programs to allow for confirmation of the design assumptions herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Ground Control Management Plan (GCMP).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Geotechnical mapping and regular inspection of benches. This should include tension crack mapping along the crest of the benches.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Geological and major structure mapping to inform and validate the geotechnical model (geology, rock mass, structure, and hydrogeology)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Monitor any potential large-scale movements of the open pit slopes (surface prisms or radar)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) Bi-annual third-party inspections and slope stability audits.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f) Implement a geomechanical testing program to confirm all pit slope design values. Compare and adjust recommended slope designs based on slope performance monitoring.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g) Install additional piezometers to allow for on-going assessment of water levels relative to slope depressurization targets and slope design phreatic surface modelling.

3 Conduct geotechnical investigations specific to the Berry Pit to bring the geotechnical model and design to a construction level of confidence, to be completed in 2026.

4 Complete detailed geotechnical evaluation for the phases to determine if interim pit phases require design adjustments

5 Continue to focus and improve the grade control program to meet the mining loss and dilution parameters.

6 Continue to focus and improve mining productivity to meet or exceed the assumptions of this plan.

7 Pending favourable drilling and modelling results, develop a mine plan for the Frank Zone to advance it towards Mineral Reserve status.

1.1.2.3 Mineral Processing

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| 1 | For continued plant optimization, complete a metallurgical test work program to further understand the metallurgical response of various ore types and head grades via the existing plant flowsheet, i.e., Sample characterization: Head analyses including gold by fire assay and cyanidation test work: Standard bottle roll tests including to assess the effect of primary grind size |

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2 Finalize studies and advance engineering for the Phase 2 plant expansion to a capacity of 5 Mt/a. <br>3. Continue to investigate a gyratory crusher in place of a second jaw crusher to increase primary crushing capacity.

1.1.2.4 Infrastructure

1 Ensure annual dam safety reviews are performed by WSP's Engineer of Record (EoR) and/or Deputy EoR now that the TMF is operational.

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| 2 | Ensure formal monthly dam inspections are conducted by Valentine's Responsible Tailings Facility Engineer (RTFE). Monthly operational updates should be presented by the RTFE to Mine management to continually inform management of any risks associated with the TMF operation. WSP's EoR and Valentine's RTFE should perform an operational risk assessment specific to dam safety for each dam raise. The proposed budget for this work is estimated to be up to $0.5 million annually. |

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| 3 | Collect TMF operational performance data to validate or refine TMF design assumptions and construction planning, coordinated with the tailings deposition plan and water balance. Bathymetric surveys should initially be performed monthly to measure the actual slopes of the tailings beaches and the volume of the supernatant pond and also to estimate the in-situ tailings density; the frequency can be reduced once deposition parameters are confirmed. Tailings slurry densities and reclaim water volumes should also be collected along with relevant operations data (e.g., tailings tonnages) to support the updates of the deposition plan and water balance so that future dam raise construction plans can be adjusted accordingly. The proposed budget for this work is estimated to be up to $1.5 million annually. |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

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| 4 | To address the shortfall in tailings storage capacity in the current TMF design for the LOM, evaluate several concepts, including expanding the current TMF via additional dam raises, constructing a new TMF, and/or in-pit tailings deposition into the Berry Pit (once mined out). A multiple accounts analysis should be conducted to evaluate, score, and rank future tailings deposition alternatives based on economic, engineering, and social criteria. The proposed budget for this analysis is estimated to be less than $0.5 million. Once a concept is selected, a geotechnical foundation investigation program should be planned and conducted to determine the suitability of the proposed alternative. The proposed budget for this program, including engineering and geotechnical laboratory testing, as well as the cost of constructing the preferred concept, will be determined once the preferred deposition concept is selected. |

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| 5 | Improve road signage and enforce radio position call-outs on radio-controlled access road. Additional traffic lights should be added to control single-lane only areas of the mine access road. An additional second lane should be twinned on 13 single-lane bridges on the mine access road. The proposed budget for these reviews is estimated to be less than $0.5 million. |

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| 6 | Complete a power system and mine electrification optimization study as part of the Phase 2 Expansion with a focus on interim Phase 2 power before the substation upgrades are completed, considering local gensets, wind, solar, batteries, and other options. The proposed budget for this study is estimated to be less than $0.5 million. |

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1.1.2.5 Environment

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| 1 | Continue to evaluate and advance optimization studies for the water management infrastructure during the initial years of operations to reduce the number of discharge points. This recommendation is supported by the fact that each discharge point is regulated under the federal Metal Mining and Diamond Effluent Regulations, as discussed in Section 20.1.7 of this report. |

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2 Ensure a robust performance monitoring evaluation is completed for the SAGR following commissioning, with a focus on ensuring that year-round operation is achievable, and if not, then mitigations can be developed.

1.1.2.6 Capital and Operating Costs

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| 1 | Update capital and operating cost estimates using operating performance data from the initial year of commercial production. As the Valentine Gold Mine transitions from construction to steady-state operations, actual operating data for mining productivity, processing throughput, reagent consumption, maintenance costs, and labour requirements should be collected and incorporated into future life-of-mine cost updates. This will allow refinement of operating cost assumptions and improved confidence in long-term economic projections. |

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| 2 | Refine sustaining capital forecasts based on equipment performance and maintenance history. Sustaining capital assumptions for major mobile mining equipment, process plant components, and infrastructure should be reviewed periodically using actual maintenance and reliability data. This will allow optimization of equipment replacement schedules and improve accuracy of long-term sustaining capital requirements in the life-of-mine financial model. |

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| 3 | Continue evaluation of cost optimization opportunities associated with the Phase 2 plant expansion. As engineering and detailed design progress for the proposed throughput expansion, additional opportunities should be evaluated to optimize capital efficiency and operating costs, including comminution circuit configuration, energy consumption, reagent usage, and water management. Updated cost estimates should be developed as engineering advances to improve the accuracy of the expansion capital estimate and confirm operating cost assumptions at the higher throughput rate. |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

1.1.3 Risks

#### Tailings Management Facility
&nbsp;&nbsp;&nbsp;&nbsp;· Risks identified in relation to the TMF are reviewed for all phases of work, including design, permitting, construction, and operations. The TMF design is based on geotechnical drilling and hydrogeological fieldwork. Periodic bathymetric surveys of the supernatant pond and the tailings beaches will be performed to compare with the tailings deposition plan and to make adjustments to the future dam raise construction as required. A water balance has been developed for the TMF and is coupled with the tailings deposition plan to inform the timing of the TMF dam raises.

&nbsp;&nbsp;&nbsp;&nbsp;· An Independent Tailings Review Board (ITRB) was established to provide oversight during the lifecycle of the TMF and is an on-going process.

&nbsp;&nbsp;&nbsp;&nbsp;· A detailed Tailings Facility Construction Management Plan, including a QA/QC program, has been implemented for construction for current and future expansions of the TMF. An Operations, Maintenance and Surveillance (OMS) Manual, following the guidelines of the Mining Association of Canada, has been put in place for the TMF.

#### Mineral Resources
&nbsp;&nbsp;&nbsp;&nbsp;· Uncertainty associated with mineralization classified as Inferred Resources introduces a risk which should be mitigated with additional infill drilling in each pit.

1.2 Economic Analysis

SLR has reviewed Equinox's LOM cash flow model for the Project, considering gold as the final saleable product, and has prepared its own unlevered after-tax LOM cash flow model based on the information contained in this Technical Report to confirm the physical and economic parameters of the Project.

The base discount rate assumed in this Technical Report is 5%, in line with industry-standard practice for operating mines in Canada. Discounted present values of annual cash flows are summed to arrive at the Mine's net present value (NPV).

The economic analysis for the Project is based on a gold price of $2,100 per ounce, which is consistent with the price assumption used for the estimation of Mineral Reserves in accordance with NI 43-101 guidelines. This price serves as the basis for the mine plan and is the primary case used to demonstrate economic viability.

At a gold price of $2,100 per ounce, the Project generates an after-tax net present value of approximately $446 million, confirming that the Mineral Reserves are economically supportable under conservative long-term pricing assumptions.

Additional cash flow analyses have been prepared to evaluate the Project's sensitivity to higher gold prices. These include a reference case using US$4,500 per ounce (the Reference Case), reflecting below-market conditions at the time of analysis. On a pre-tax basis, the Reference Case undiscounted cash flow totals US$6.8 billion over the mine life. The pre-tax NPV at a 5% discount rate is US$4.9 billion. On an after-tax basis, the undiscounted cash flow totals US$4.3 billion over the mine life. The after-tax NPV at a 5% discount rate is US$3.1 billion. The internal rate of return (IRR) is not applicable as the Mine is an operating mine and does not have any initial capital to be recovered.

Figure 1-1 shows the cash flow, cumulative after-tax cash flow and cumulative discounted after tax cash flow forecast at a 5% discount rate:

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 1-1: Cash Flow Summary – Reference Case
Table 1-1 shows the LOM total metrics and average unit costs for the Valentine mine as currently designed.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 1-1: Total Life of Mine Metrics – Reference Case

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Item** | **LOM Total US$ M** | **Avg. Annual US$M/y** | **Avg. US$/ t milled** | **Avg. US$/ t mined** | **Avg. US$/Oz Au recovered** |
| Total Gross Revenue | 11528 | 961 | 223.88 | 16.94 | 4478 |
| Mining Cost | 1960 | 163 | 38.07 | 2.88 | 761 |
| Process Cost | 1058 | 88 | 20.55 | 1.55 | 411 |
| G & A Cost | 700 | 58 | 13.59 | 1.03 | 272 |
| Refining/Freight | 4 | 0.3 | 0.07 | 0.01 | 1 |
| Royalties | 346 | 29 | 6.71 | 0.51 | 134 |
| Total Operating Costs | 4067 | 339 | 78.99 | 5.98 | 1580 |
| Operating Margin (EBITDA) | 7460 | 622 | 144.89 | 10.96 | 2898 |
| Cash Taxes Payable | 2462 | 205 | 47.82 | 3.62 | 956 |
| Working Capital | 39 | 3 | 0.75 | 0.06 | 15 |
| Operating Cash Flow | 5037 | 420 | 97.82 | 7.40 | 1956 |
| Development Capital | 507 | 42 | 9.84 | 0.74 | 197 |
| Sustaining Capital | 126 | 11 | 2.45 | 0.19 | 49 |
| Closure/Reclamation Capital | 94 | 8 | 1.82 | 0.14 | 36 |
| Total Capital | 727 | 61 | 14.12 | 1.07 | 282 |
| Pre-tax Free Cash Flow | 6772 | 564 | 131.52 | 9.95 | 2630 |
| Pre-tax NPV @ 5% | 4894 | 408 | 95.06 | 7.19 | 1901 |
| After-tax Free Cash Flow | 4310 | 359 | 83.71 | 6.33 | 1674 |
| After-tax NPV @ 5% | 3108 | 259 | 60.37 | 4.57 | 1207 |

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Note: M - million

1.3 Technical Summary

1.3.1 Property Description and Location

The Valentine Gold Mine Property, located in west-central Newfoundland on National Topographic System (NTS) sheets 12A/06 and 12A/07, is centered near Universal Transverse Mercator (UTM) 493399E and 5362396N (Zone 21N, NAD83). The 100% Equinox–owned property hosts five defined gold deposits: Leprechaun, Sprite, Berry, Marathon, and Victory, together with additional early-stage prospects distributed along a 32 kilometre northeast-trending mineralized corridor.

Access to the property is via existing roads, principally an 80 kilometre gravel road extending from the Town of Millertown. Millertown is reached by paved routes using the Trans-Canada Highway and the Buchans Highway. The Project lies between two major waterbodies: Valentine Lake to the west and Victoria Reservoir to the east. The local climate is classified as "temperate maritime," characterized by generally mild summers and cold winters. Climate data from the Buchans weather station indicate an average annual precipitation of approximately 1,100 millimetres, with slightly more than one-quarter occurring as snowfall, resulting in seasonal snow accumulations of about one metre or more.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

1.3.2 Land Tenure

The Valentine Gold Mine Property comprises 30 contiguous mineral licenses totaling 313 km² (31,300 ha), all held 100% by Marathon Gold, a subsidiary of Equinox. These licenses are in good standing and subject to annual assessment and renewal obligations under the Mineral Act. Equinox holds a 2,129 ha surface lease covering current project infrastructure, and has secured an additional 452 ha of surface rights to support the Berry Pit expansion, for a total of approximately 2,629 ha. Together, the mineral licenses, surface lease, and compliance with annual assessment requirements provide secure and continuous tenure for exploration and development across the Valentine Gold Mine.

1.3.3 History

The Valentine Gold Mine Property has been explored by multiple operators since the 1960s, beginning with ASARCO Inc. and Hudson's Bay Oil & Gas Co. whose work focused on base metals in keeping with significant volcanogenic massive sulphide (VMS)-style discoveries within the Dunnage Zone (e.g., Buchans and Duck Pond–Boundary). Gold was first recognized on the property by Abitibi Price Inc. in 1983, leading to BP Canada Inc.'s acquisition in 1985 and the initial identification of the Leprechaun and Victory (formerly Valentine East) gold prospects the following year.

In 1992, Noranda Inc. acquired the Project before forming a joint venture with Mountain Lake Resources Inc. in 1998. Between 1998 and 2007, Mountain Lake and Richmont Mines Inc. completed exploration and drilling programs along the 32-kilometre mineralized trend, including work at Leprechaun, Valentine East, and the Sprite (formerly Osprey) prospect. In 2009, an option and joint venture with Marathon PGM Corporation was entered, and in 2010, Marathon Gold Corp. was spun out and later acquired 100% ownership of the property in July 2012.

Calibre Mining Corp. (Calibre) acquired the property in 2024. In 2025, Equinox acquired Calibre, so that Valentine Gold Mine now resides within Equinox's portfolio of mining projects. This transition underpins the move toward development and production as the Valentine Gold Mine advances. From 2010 onward, the property has been subject to systematic exploration, culminating in the discovery of the Marathon, Sprite, and Berry deposits, substantial expansion of Leprechaun and Victory, and identification of a series of additional early-stage prospects along the 32 kilometre Valentine Gold Mine structural corridor.

1.3.4 Geology and Mineralization

Gold mineralization at Valentine is hosted within a predominantly flat-lying stratigraphic sequence consisting of Rogerson Lake Conglomerate, Trondhjemite, Quartz Monzonite, Aphanitic Quartz Porphyry dykes, Mafic Dykes, Gabbro, and the Quartz-Tourmaline-Pyrite Vein (QTPV) system. Mineralization is structurally controlled and strongly associated with the QTPV vein set (Set 1), which forms the primary host of economic gold grades across all deposits.

Three-dimensional lithological and mineralization models were constructed using Leapfrog Geo, integrating drill hole lithology, structural measurements, oriented core, and televiewer data. Updated interpretations in 2025 improved the continuity of mineralized domains, refined the geometry of intrusive units, and reduced internal dilution within the QTPV domains.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

1.3.5 Exploration Status

Since 2010, systematic exploration at the Valentine Gold Project has comprised diamond drilling, trenching, channel and grab sampling, detailed geological and structural mapping, and airborne and ground geophysical surveys (magnetics, VLF, IP, LiDAR, and limited seismic). These programs have delineated Mineral Resources at the Leprechaun, Berry, Marathon, Sprite, and Victory deposits and identified numerous additional targets, including Frank, Triangle, Banshee (previously Marathon South), Rainbow, Scott, Steve, Eastern Arm, Narrows, Victory SW/NE, Minotaur, South Quinn, and Western Peninsula. Current production is sourced from the Leprechaun, Berry, and Marathon pits, while exploration since the 2022 Technical Report has focused on district-scale growth rather than near-pit expansion. The most advanced growth target is the Frank Zone, located immediately southwest of Leprechaun, which extends over approximately 1.5 km and exhibits quartz-tourmaline-pyrite (QTP) veining and structural characteristics analogous to Leprechaun; 167 holes totaling approximately 50,770 m were drilled between 2023 and 2025 to support a potential initial resource by 2026. Property-wide airborne magnetics and VLF surveys completed in 2024 (3,263 line-km, with an effective 50 m line spacing when integrated with 2007 data) have defined cross-faults and additional structures subparallel to the Valentine Lake Shear Zone (VLSZ), highlighting the potential for additional mineralized zones proximal to the VLSZ. In addition, new targets, including Minotaur and South Quinn, represent the first mineralized zones identified away from the main VLSZ trend and confirm broader district potential.

Geological mapping (1:5,000 scale deposit maps), lithogeochemistry, petrography, and structural studies conducted from 2010 through 2024 confirm that mineralization is hosted within the hanging wall of the VLSZ in the Valentine Lake Intrusive Complex and is dominated by shallow southwest-dipping extensional QTP-Au veins (Set 1), with subordinate shear-parallel vein sets. Structural investigations by SRK (2014) and Terrane Geosciences (2020–2021), supported by televiewer analysis of oriented core, identified up to three vein sets at Leprechaun and Marathon and four at Berry, and established a five-phase deformation history with gold deposition linked to D3 shortening following D2 relaxation. Channel sampling (5,984 samples) and grab sampling (2,885 samples) have been instrumental in target generation, including initial delineation of the Marathon deposit and definition of high-priority areas at Frank and Eastern Arm. Till programs completed between 2022 and 2024 (a total of 885 samples) returned up to 711 gold grains over known deposits and anomalous counts (up to 313 grains) in underexplored areas, reinforcing target prioritization. Ground magnetics (2014–2017) demonstrated a spatial association between mineralization and magnetic lows associated with magnetite-destructive alteration, whereas the 2017 seismic survey did not yield sufficient structural resolution and is not being advanced.

Between 2010 and 2025, 2,360 diamond drill holes totaling approximately 543,196 m were completed, with drilling concentrated at Marathon (161,717 m in the resource database), Berry (128,641 m), Leprechaun (104,746 m), and Frank (59,076 m), in addition to regional targets. The 2025 program alone comprised 200 holes totaling 68,062 m, primarily at Frank and other greenfields targets. Advanced drilling at the principal deposits achieved spacings as tight as 25 m × 25 m, locally 10–15 m centers, supporting resource classification. Analytical data supporting the October 2025 Mineral Resource cut-off include 111,786 gold assays at Marathon, 74,893 at Leprechaun, and 91,000 at Berry, with assay coverage exceeding 92% of drilled length. QA/QC protocols include insertion of blanks and certified reference materials at rates up to 1 in 10 samples (since 2021), coarse and fine blank monitoring, metallic screen assays for samples greater than 300 ppb Au or containing visible gold, and umpire testing (5% in 2024), with overall failure rates low and issues investigated and rectified within the acQuire database. The Qualified Person concludes that exploration methodologies, drilling procedures, and QA/QC controls are consistent with industry best practices and that the resulting geological and analytical datasets are reliable and suitable for Mineral Resource estimation.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

1.3.6 Metallurgical Testing and Mineral Processing

Significant metallurgical test work has been completed on mineralized ore samples from the Leprechaun, Marathon and Berry deposits. Metallurgical test work was completed during various test work campaigns from 2010 to 2024 at various metallurgical laboratories. The overall objectives of the various test work programs were to define the metallurgical response of the main ore domains and deposits, generate sufficient metallurgical data to support a flowsheet and develop gold recoveries for project development and the ultimate design of the current process plant. The general scope of the test work campaigns included chemical and mineralogical analyses, comminution tests, gravity recovery, cyanide leaching, detoxification, carbon loading, oxygen uptake evaluations, and dewatering tests (including flocculant selection, static settling, and dynamic thickening tests).

Metallurgical test work also included flotation and leaching of flotation concentrate and tailings for the plant expansion as documented in previous NI 43-101 Technical Reports. Following trade off studies, the current plant expansion has reverted to expanding the existing comminution and gravity-leach-CIL circuits and not to implement a flotation circuit. Historical test work used for the initial plant design remains relevant for the plant expansion. However, it is recommended to conduct confirmatory variability test work for continued plant optimization.

Of the Leprechaun, Marathon and Berry samples tested, gold assays covered a range 0.3 to 6g/t Au. All samples had low silver grade (less than 1 g/t Ag), and low levels of base metals. Almost all the sulphur occurs as sulphides. All samples had low levels of graphitic and organic carbon indicating low potential of preg-robbing, below detection limit mercury of less than 0.3 g/t. Tellurium occurred in a few samples greater than the detection limit.

Leprechaun, Marathon and Berry have similar lithologies and other ore characteristics. Comminution data for Berry material showed that the abrasion index for the Berry samples is slightly higher than the average values for the Marathon and Leprechaun deposits, the rod mill work index was very similar to that of Marathon and Leprechaun material, and that the ball mill work index was slightly lower than that of Marathon and Leprechaun material. Material competency, as indicated by the average Axb values, are similar for all three deposits with Berry having a slightly higher value. All of these findings mean that Berry material is easier to grind than the other materials and that the current grinding circuit will be able to handle a mixture of all three materials.

In terms of gravity gold recovery Marathon gives low gravity recovery (~23% at 2 g/t head), Leprechaun has slightly higher gravity recovery (28% at 2 g/t) and Berry markedly higher recovery (40% at 2 g/t). However, an extended gravity recoverable gold (E-GRG) test on a composite of Berry material showed that gravity recovery was very similar to that of the other two deposits.

A series of metallurgical leach tests were initially performed on samples from Leprechaun and Marathon, and subsequent tests performed on samples from Berry with similar leaching conditions. Overall, gold extractions of greater than 93% were achieved.

All available data and gold extraction algorithms from the 2021 Feasibility Study and 2022 test work as documented in previous NI 43-101 Technical Reports are used for the current process plant operations. Gold extraction algorithms are represented in Table 1-2

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 1-2: Regression Lines and Extraction Predictions – Excluding Soluble Losses

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|:---|:---|:---|:---|:---|:---|:---|
| **Data Set** | **Regression** | **Extraction Predicted at Stated Feed Grade, g/t Au** | **Extraction Predicted at Stated Feed Grade, g/t Au** | **Extraction Predicted at Stated Feed Grade, g/t Au** | **Extraction Predicted at Stated Feed Grade, g/t Au** | **Extraction Predicted at Stated Feed Grade, g/t Au** |
| **Data Set** | **Regression** | **Gravity-Leach Circuit – Soluble Losses Excluded** | **Gravity-Leach Circuit – Soluble Losses Excluded** | **Gravity-Leach Circuit – Soluble Losses Excluded** | **Gravity-Leach Circuit – Soluble Losses Excluded** | **Gravity-Leach Circuit – Soluble Losses Excluded** |
| **Data Set** | **Regression** | **0.5 g/t Au** | **1 g/t Au** | **2 g/t Au** | **3 g/t Au** | **4 g/t Au** |
| Consolidated | y = 0.2114x + 93.59 | 93.7 | 93.8 | 94.0 | 94.2 | 94.4 |
| Berry | y = -0.0316x + 95.058 | 95.0 | 95.0 | 95.0 | 95.0 | 94.9 |
| Leprechaun | y = 0.61x + 92.598 | 92.9 | 93.2 | 93.8 | 94.4 | 95.0 |
| Marathon | y = -0.0666x + 93.36 | 93.3 | 93.3 | 93.2 | 93.2 | 93.1 |
| Sum of Individuals | Sum of Individuals | 93.8 | 93.8 | 93.8 | 94.2 | 94.4 |
| Note: Gravity-leach is capped at 96% extraction. | Note: Gravity-leach is capped at 96% extraction. | Note: Gravity-leach is capped at 96% extraction. | Note: Gravity-leach is capped at 96% extraction. | Note: Gravity-leach is capped at 96% extraction. | Note: Gravity-leach is capped at 96% extraction. | Note: Gravity-leach is capped at 96% extraction. |

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1.3.7 Mineral Resources

The 2025 Mineral Resource Estimate updates the previous estimate issued on November 30, 2022, incorporating new drilling, refined geological models, updated mineralization domains, and revised estimation parameters. The effective date of the 2025 Mineral Resource estimate is December 31, 2025.

The 2025 Mineral Resource estimate was prepared by Ean Finch, P.Geo., Senior Resource Geologist, Equinox. Niel de Bruin, P.Geo., Vice President, Mineral Resources, Equinox, is the Qualified Person (QP) responsible for the Mineral Resource estimate. The QP has reviewed the geological interpretations, estimation methodology, and validation results and considers the Mineral Resource Estimate to be a reasonable representation of the gold mineralization at the current level of drilling and geological understanding.

The 2025 Mineral Resource estimate is based on 2,071 diamond drill holes totaling 445,108 m, of which 310,127 samples contain gold assays and verified for use in the MRE. All data underwent rigorous validation, including QA/QC review, survey checks, and verification of assay certificates. The QP considers the database to be reliable and appropriate for Mineral Resource estimation.

Key elements of the estimation methodology are listed:

&nbsp;&nbsp;&nbsp;&nbsp;· 1.0 m capped composites, confined to domain boundaries

&nbsp;&nbsp;&nbsp;&nbsp;· Updated variograms for QTPV and granitoid domains

&nbsp;&nbsp;&nbsp;&nbsp;· Dynamic anisotropy applied within QTPV domains to reflect local structural variations

&nbsp;&nbsp;&nbsp;&nbsp;· High-grade distance restrictions based on indicator variograms

&nbsp;&nbsp;&nbsp;&nbsp;· Inverse Distance Cubed (ID³) selected as the preferred interpolation method

&nbsp;&nbsp;&nbsp;&nbsp;· Block sizes of 3 m × 3 m × 3 m for QTPV domains and 6 m × 6 m × 3 m for other lithologies

&nbsp;&nbsp;&nbsp;&nbsp;· Bulk density assigned by lithological domain using 3,909 measurements

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Underground Mineral Resources were constrained within optimized stope shapes using a cut-off grade of 1.21 g/t Au, based on a gold price of US$2,300/oz Au and underground mining cost assumptions.

The QP concludes that the reported Mineral Resources meet the CIM requirement for "reasonable prospects for eventual economic extraction".

Consolidated Mineral Resources, exclusive of Mineral Reserves, are presented in Table 1-3.

#### Table 1-3: Consolidated Mineral Resource Estimate Exclusive of Mineral Reserves for the Valentine Gold Mine

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|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Category** | **In-Pit** | **In-Pit** | **In-Pit** | **Underground** | **Underground** | **Underground** | **In-Pit & Underground** | **In-Pit & Underground** | **In-Pit & Underground** |
| **Category** | **>= 0.30 g/t Au** | **>= 0.30 g/t Au** | **>= 0.30 g/t Au** | **>= 1.21 g/t Au** | **>= 1.21 g/t Au** | **>= 1.21 g/t Au** | **Tonnage <br> (kt)** | **Gold Grade <br> (g/t)** | **Contained Gold <br> (koz)** |
| **Category** | **Tonnage <br> (kt)** | **Gold Grade (g/t)** | **Contained Gold <br> (koz)** | **Tonnage <br> (kt)** | **Gold Grade (g/t)** | **Contained Gold <br> (koz)** | **Tonnage <br> (kt)** | **Gold Grade <br> (g/t)** | **Contained Gold <br> (koz)** |
| Measured | 6379 | 1.15 | 236 | 49 | 4.32 | 7 | 6428 | 1.18 | 243 |
| Indicated | 22790 | 1.24 | 908 | 170 | 3.28 | 18 | 22961 | 1.25 | 926 |
| **M+I** | **29170** | **1.22** | **1145** | **219** | **3.51** | **25** | **29389** | **1.24** | **1169** |
| Inferred | 31272 | 1.07 | 1077 | 717 | 2.23 | 51 | 31989 | 1.10 | 1128 |
| Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Mineral Resource estimate was completed in accordance with the CIM (2014) definitions and the CIM Best Practice Guidelines (2019).<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table exclusive of Mineral Reserves.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit resources are reported at a cut off grade of 0.30 g/t Au and are constrained within an optimized pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimized pit shell was generated using a gold price of $2,400/oz Au and a USD/CAD exchange rate of 1.3, mining and processing costs of $17.37/t, G&A costs of $4.50/t, and refining and transportation cost of $5.34/oz of recovered gold.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within conceptual mineable stopes using a cut-off grade of 1.21g/t Au. <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of $2,300/oz was used to determine the underground cut-off grade. Assumptions include mining & processing cost of $79.80/t, refining and transportation cost of $5.0/oz of recovered gold, and process sustaining capital cost of $1.20/t. No G&A costs were applied.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Underground stope sizes were on average at a strike length of 5 m, a mining height of 3 m, and a stope width corresponding to the full extent of the modelled mineralized zone.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A process recovery of 95% and a royalty rate of 3.0% were applied<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Totals may not sum due to rounding. | Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Mineral Resource estimate was completed in accordance with the CIM (2014) definitions and the CIM Best Practice Guidelines (2019).<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table exclusive of Mineral Reserves.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit resources are reported at a cut off grade of 0.30 g/t Au and are constrained within an optimized pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimized pit shell was generated using a gold price of $2,400/oz Au and a USD/CAD exchange rate of 1.3, mining and processing costs of $17.37/t, G&A costs of $4.50/t, and refining and transportation cost of $5.34/oz of recovered gold.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within conceptual mineable stopes using a cut-off grade of 1.21g/t Au. <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of $2,300/oz was used to determine the underground cut-off grade. Assumptions include mining & processing cost of $79.80/t, refining and transportation cost of $5.0/oz of recovered gold, and process sustaining capital cost of $1.20/t. No G&A costs were applied.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Underground stope sizes were on average at a strike length of 5 m, a mining height of 3 m, and a stope width corresponding to the full extent of the modelled mineralized zone.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A process recovery of 95% and a royalty rate of 3.0% were applied<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Totals may not sum due to rounding. | Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Mineral Resource estimate was completed in accordance with the CIM (2014) definitions and the CIM Best Practice Guidelines (2019).<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table exclusive of Mineral Reserves.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit resources are reported at a cut off grade of 0.30 g/t Au and are constrained within an optimized pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimized pit shell was generated using a gold price of $2,400/oz Au and a USD/CAD exchange rate of 1.3, mining and processing costs of $17.37/t, G&A costs of $4.50/t, and refining and transportation cost of $5.34/oz of recovered gold.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within conceptual mineable stopes using a cut-off grade of 1.21g/t Au. <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of $2,300/oz was used to determine the underground cut-off grade. Assumptions include mining & processing cost of $79.80/t, refining and transportation cost of $5.0/oz of recovered gold, and process sustaining capital cost of $1.20/t. No G&A costs were applied.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Underground stope sizes were on average at a strike length of 5 m, a mining height of 3 m, and a stope width corresponding to the full extent of the modelled mineralized zone.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A process recovery of 95% and a royalty rate of 3.0% were applied<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Totals may not sum due to rounding. | Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Mineral Resource estimate was completed in accordance with the CIM (2014) definitions and the CIM Best Practice Guidelines (2019).<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table exclusive of Mineral Reserves.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit resources are reported at a cut off grade of 0.30 g/t Au and are constrained within an optimized pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimized pit shell was generated using a gold price of $2,400/oz Au and a USD/CAD exchange rate of 1.3, mining and processing costs of $17.37/t, G&A costs of $4.50/t, and refining and transportation cost of $5.34/oz of recovered gold.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within conceptual mineable stopes using a cut-off grade of 1.21g/t Au. <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of $2,300/oz was used to determine the underground cut-off grade. Assumptions include mining & processing cost of $79.80/t, refining and transportation cost of $5.0/oz of recovered gold, and process sustaining capital cost of $1.20/t. No G&A costs were applied.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Underground stope sizes were on average at a strike length of 5 m, a mining height of 3 m, and a stope width corresponding to the full extent of the modelled mineralized zone.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A process recovery of 95% and a royalty rate of 3.0% were applied<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Totals may not sum due to rounding. | Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Mineral Resource estimate was completed in accordance with the CIM (2014) definitions and the CIM Best Practice Guidelines (2019).<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table exclusive of Mineral Reserves.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit resources are reported at a cut off grade of 0.30 g/t Au and are constrained within an optimized pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimized pit shell was generated using a gold price of $2,400/oz Au and a USD/CAD exchange rate of 1.3, mining and processing costs of $17.37/t, G&A costs of $4.50/t, and refining and transportation cost of $5.34/oz of recovered gold.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within conceptual mineable stopes using a cut-off grade of 1.21g/t Au. <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of $2,300/oz was used to determine the underground cut-off grade. Assumptions include mining & processing cost of $79.80/t, refining and transportation cost of $5.0/oz of recovered gold, and process sustaining capital cost of $1.20/t. No G&A costs were applied.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Underground stope sizes were on average at a strike length of 5 m, a mining height of 3 m, and a stope width corresponding to the full extent of the modelled mineralized zone.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A process recovery of 95% and a royalty rate of 3.0% were applied<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Totals may not sum due to rounding. | Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Mineral Resource estimate was completed in accordance with the CIM (2014) definitions and the CIM Best Practice Guidelines (2019).<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table exclusive of Mineral Reserves.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit resources are reported at a cut off grade of 0.30 g/t Au and are constrained within an optimized pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimized pit shell was generated using a gold price of $2,400/oz Au and a USD/CAD exchange rate of 1.3, mining and processing costs of $17.37/t, G&A costs of $4.50/t, and refining and transportation cost of $5.34/oz of recovered gold.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within conceptual mineable stopes using a cut-off grade of 1.21g/t Au. <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of $2,300/oz was used to determine the underground cut-off grade. Assumptions include mining & processing cost of $79.80/t, refining and transportation cost of $5.0/oz of recovered gold, and process sustaining capital cost of $1.20/t. No G&A costs were applied.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Underground stope sizes were on average at a strike length of 5 m, a mining height of 3 m, and a stope width corresponding to the full extent of the modelled mineralized zone.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A process recovery of 95% and a royalty rate of 3.0% were applied<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Totals may not sum due to rounding. | Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Mineral Resource estimate was completed in accordance with the CIM (2014) definitions and the CIM Best Practice Guidelines (2019).<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table exclusive of Mineral Reserves.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit resources are reported at a cut off grade of 0.30 g/t Au and are constrained within an optimized pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimized pit shell was generated using a gold price of $2,400/oz Au and a USD/CAD exchange rate of 1.3, mining and processing costs of $17.37/t, G&A costs of $4.50/t, and refining and transportation cost of $5.34/oz of recovered gold.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within conceptual mineable stopes using a cut-off grade of 1.21g/t Au. <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of $2,300/oz was used to determine the underground cut-off grade. Assumptions include mining & processing cost of $79.80/t, refining and transportation cost of $5.0/oz of recovered gold, and process sustaining capital cost of $1.20/t. No G&A costs were applied.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Underground stope sizes were on average at a strike length of 5 m, a mining height of 3 m, and a stope width corresponding to the full extent of the modelled mineralized zone.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A process recovery of 95% and a royalty rate of 3.0% were applied<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Totals may not sum due to rounding. | Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Mineral Resource estimate was completed in accordance with the CIM (2014) definitions and the CIM Best Practice Guidelines (2019).<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table exclusive of Mineral Reserves.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit resources are reported at a cut off grade of 0.30 g/t Au and are constrained within an optimized pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimized pit shell was generated using a gold price of $2,400/oz Au and a USD/CAD exchange rate of 1.3, mining and processing costs of $17.37/t, G&A costs of $4.50/t, and refining and transportation cost of $5.34/oz of recovered gold.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within conceptual mineable stopes using a cut-off grade of 1.21g/t Au. <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of $2,300/oz was used to determine the underground cut-off grade. Assumptions include mining & processing cost of $79.80/t, refining and transportation cost of $5.0/oz of recovered gold, and process sustaining capital cost of $1.20/t. No G&A costs were applied.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Underground stope sizes were on average at a strike length of 5 m, a mining height of 3 m, and a stope width corresponding to the full extent of the modelled mineralized zone.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A process recovery of 95% and a royalty rate of 3.0% were applied<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Totals may not sum due to rounding. | Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Mineral Resource estimate was completed in accordance with the CIM (2014) definitions and the CIM Best Practice Guidelines (2019).<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table exclusive of Mineral Reserves.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit resources are reported at a cut off grade of 0.30 g/t Au and are constrained within an optimized pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimized pit shell was generated using a gold price of $2,400/oz Au and a USD/CAD exchange rate of 1.3, mining and processing costs of $17.37/t, G&A costs of $4.50/t, and refining and transportation cost of $5.34/oz of recovered gold.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within conceptual mineable stopes using a cut-off grade of 1.21g/t Au. <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of $2,300/oz was used to determine the underground cut-off grade. Assumptions include mining & processing cost of $79.80/t, refining and transportation cost of $5.0/oz of recovered gold, and process sustaining capital cost of $1.20/t. No G&A costs were applied.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Underground stope sizes were on average at a strike length of 5 m, a mining height of 3 m, and a stope width corresponding to the full extent of the modelled mineralized zone.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A process recovery of 95% and a royalty rate of 3.0% were applied<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Totals may not sum due to rounding. | Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Mineral Resource estimate was completed in accordance with the CIM (2014) definitions and the CIM Best Practice Guidelines (2019).<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource estimate is December 31, 2025.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table exclusive of Mineral Reserves.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit resources are reported at a cut off grade of 0.30 g/t Au and are constrained within an optimized pit shell.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimized pit shell was generated using a gold price of $2,400/oz Au and a USD/CAD exchange rate of 1.3, mining and processing costs of $17.37/t, G&A costs of $4.50/t, and refining and transportation cost of $5.34/oz of recovered gold.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within conceptual mineable stopes using a cut-off grade of 1.21g/t Au. <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of $2,300/oz was used to determine the underground cut-off grade. Assumptions include mining & processing cost of $79.80/t, refining and transportation cost of $5.0/oz of recovered gold, and process sustaining capital cost of $1.20/t. No G&A costs were applied.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Underground stope sizes were on average at a strike length of 5 m, a mining height of 3 m, and a stope width corresponding to the full extent of the modelled mineralized zone.<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A process recovery of 95% and a royalty rate of 3.0% were applied<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Totals may not sum due to rounding. |

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Key Factors Influencing the 2025 Mineral Resource estimate:

&nbsp;&nbsp;&nbsp;&nbsp;· Incorporation of new drilling, particularly at the Berry, Sprite, and Victory deposits.

&nbsp;&nbsp;&nbsp;&nbsp;· Optimization of mineralization domains, including improved treatment of internal waste and better control on domain extents outside QTPV units.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Updated lithological interpretations, including refinement of mafic dyke geometries at Marathon.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Re-interpretation of grade shells to better align with litho-structural controls and current mining performance.

&nbsp;&nbsp;&nbsp;&nbsp;· Increase on block size in QTPV domains and increase sample support

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;· Updated variogram parameters

&nbsp;&nbsp;&nbsp;&nbsp;· New capping thresholds were established based on statistical analysis.

&nbsp;&nbsp;&nbsp;&nbsp;· Reduction of extensive search ranges in Quartz monzonite and Trondhjemite domains to limit over-extrapolation.

The 2025 Mineral Resource estimate reflects significant improvements in geological modelling, domain interpretation, and estimation methodology across all five deposits. The updated estimate benefits from new drilling, refined structural controls, enhanced domain modelling, and improved treatment of high-grade outliers. The QP is not aware of any environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other relevant factors that could materially affect the Mineral Resource estimate.

The QP considers the 2025 Mineral Resource estimate to be robust, well-supported by the available data, and suitable for use in mine planning, economic analysis, and future Mineral Reserve estimation.

1.3.8 Mineral Reserves

Proven and Probable Mineral Reserves have been converted from Measured and Indicated Mineral Resources at Leprechaun, Berry and Marathon, which are summarized in Table 1-4. Inferred Mineral Resources are not included in the Mineral Reserves and are sent to waste. Mineral Reserves are supported by feasibility engineering. Mineral Resources from the Victory and Sprite deposits, and any underground Mineral Resources, are not included in the Feasibility Study mine plan or Mineral Reserves.

#### Table 1-4: Summary of Mineral Reserves – Effective Date December 31, 2025

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| | | | | |
|:---|:---|:---|:---|:---|
| **Mining Area** | **Reserve Class** | **Ore <br> (kt)** | **Grade <br> (g/t)** | **Contained Metal <br> (koz)** |
| Leprechaun | Proven | 5746 | 2.11 | 389 |
| Leprechaun | Probable | 8500 | 1.75 | 478 |
| Leprechaun | **Leprechaun Total** | **14245** | **1.89** | **867** |
| Berry | Proven | 4521 | 2.07 | 301 |
| Berry | Probable | 9343 | 1.45 | 435 |
| Berry | **Berry Total** | **13864** | **1.65** | **736** |
| Marathon | Proven | 11829 | 1.68 | 640 |
| Marathon | Probable | 9988 | 1.43 | 459 |
| Marathon | **Marathon Total** | **21817** | **1.57** | **1098** |
| Stockpiles as of <br> December 31, 2025 | Proven | - | - | - |
| Stockpiles as of <br> December 31, 2025 | Probable | 1563 | 0.92 | 46 |
| Stockpiles as of <br> December 31, 2025 | **Stockpile Total** | **1563** | **0.92** | **46** |
| Subtotal | Proven | 22095 | 1.87 | 1330 |
| Subtotal | Probable | 29395 | 1.50 | 1418 |
| Total | **Proven and Probable** | **51490** | **1.66** | **2748** |
| <br> Source: MMTS 2026.<br>Notes:<br>1. The Mineral Reserve estimates were prepared by Jeffrey Colden, P.Eng., reported using the CIM (2014) definitions, and have an effective date of December 31, 2025.<br> 2. Mineral Reserves are mined tonnes and grade; the reference point is the mill feed at the primary crusher.<br> 3. Mineral Reserves are reported at a cut-off grade of 0.45 g/t Au.<br> 4. Cut-off grade assumes US$2,100/oz Au at a currency exchange rate of US$0.714 per C$1.00; 99.8% payable gold; US$5.00/oz off-site costs (refining and transport); and uses an 93.1% metallurgical recovery. The cut-off grade covers processing costs of C$22.75/t, administrative (G&A) costs of C$14.38/t, and a stockpile rehandle cost of C$1.85/t.<br> 5. Mining loss and dilution is based on diluting the Resource model to a 6 m x 6 m x 6 m, including additional mining losses estimated for the removal of isolated blocks (surrounded by waste) and low-grade (<0.55 g/t Au) blocks bounded by waste on three sides.<br> 6. Numbers have been rounded as required by reporting guidelines and may not add.<br> 7. The QP is not aware of any mining, metallurgical, infrastructure, permitting, or other relevant factors that could materially affect the Mineral Reserve estimate, unless outlined in this report. | <br> Source: MMTS 2026.<br>Notes:<br>1. The Mineral Reserve estimates were prepared by Jeffrey Colden, P.Eng., reported using the CIM (2014) definitions, and have an effective date of December 31, 2025.<br> 2. Mineral Reserves are mined tonnes and grade; the reference point is the mill feed at the primary crusher.<br> 3. Mineral Reserves are reported at a cut-off grade of 0.45 g/t Au.<br> 4. Cut-off grade assumes US$2,100/oz Au at a currency exchange rate of US$0.714 per C$1.00; 99.8% payable gold; US$5.00/oz off-site costs (refining and transport); and uses an 93.1% metallurgical recovery. The cut-off grade covers processing costs of C$22.75/t, administrative (G&A) costs of C$14.38/t, and a stockpile rehandle cost of C$1.85/t.<br> 5. Mining loss and dilution is based on diluting the Resource model to a 6 m x 6 m x 6 m, including additional mining losses estimated for the removal of isolated blocks (surrounded by waste) and low-grade (<0.55 g/t Au) blocks bounded by waste on three sides.<br> 6. Numbers have been rounded as required by reporting guidelines and may not add.<br> 7. The QP is not aware of any mining, metallurgical, infrastructure, permitting, or other relevant factors that could materially affect the Mineral Reserve estimate, unless outlined in this report. | <br> Source: MMTS 2026.<br>Notes:<br>1. The Mineral Reserve estimates were prepared by Jeffrey Colden, P.Eng., reported using the CIM (2014) definitions, and have an effective date of December 31, 2025.<br> 2. Mineral Reserves are mined tonnes and grade; the reference point is the mill feed at the primary crusher.<br> 3. Mineral Reserves are reported at a cut-off grade of 0.45 g/t Au.<br> 4. Cut-off grade assumes US$2,100/oz Au at a currency exchange rate of US$0.714 per C$1.00; 99.8% payable gold; US$5.00/oz off-site costs (refining and transport); and uses an 93.1% metallurgical recovery. The cut-off grade covers processing costs of C$22.75/t, administrative (G&A) costs of C$14.38/t, and a stockpile rehandle cost of C$1.85/t.<br> 5. Mining loss and dilution is based on diluting the Resource model to a 6 m x 6 m x 6 m, including additional mining losses estimated for the removal of isolated blocks (surrounded by waste) and low-grade (<0.55 g/t Au) blocks bounded by waste on three sides.<br> 6. Numbers have been rounded as required by reporting guidelines and may not add.<br> 7. The QP is not aware of any mining, metallurgical, infrastructure, permitting, or other relevant factors that could materially affect the Mineral Reserve estimate, unless outlined in this report. | <br> Source: MMTS 2026.<br>Notes:<br>1. The Mineral Reserve estimates were prepared by Jeffrey Colden, P.Eng., reported using the CIM (2014) definitions, and have an effective date of December 31, 2025.<br> 2. Mineral Reserves are mined tonnes and grade; the reference point is the mill feed at the primary crusher.<br> 3. Mineral Reserves are reported at a cut-off grade of 0.45 g/t Au.<br> 4. Cut-off grade assumes US$2,100/oz Au at a currency exchange rate of US$0.714 per C$1.00; 99.8% payable gold; US$5.00/oz off-site costs (refining and transport); and uses an 93.1% metallurgical recovery. The cut-off grade covers processing costs of C$22.75/t, administrative (G&A) costs of C$14.38/t, and a stockpile rehandle cost of C$1.85/t.<br> 5. Mining loss and dilution is based on diluting the Resource model to a 6 m x 6 m x 6 m, including additional mining losses estimated for the removal of isolated blocks (surrounded by waste) and low-grade (<0.55 g/t Au) blocks bounded by waste on three sides.<br> 6. Numbers have been rounded as required by reporting guidelines and may not add.<br> 7. The QP is not aware of any mining, metallurgical, infrastructure, permitting, or other relevant factors that could materially affect the Mineral Reserve estimate, unless outlined in this report. | <br> Source: MMTS 2026.<br>Notes:<br>1. The Mineral Reserve estimates were prepared by Jeffrey Colden, P.Eng., reported using the CIM (2014) definitions, and have an effective date of December 31, 2025.<br> 2. Mineral Reserves are mined tonnes and grade; the reference point is the mill feed at the primary crusher.<br> 3. Mineral Reserves are reported at a cut-off grade of 0.45 g/t Au.<br> 4. Cut-off grade assumes US$2,100/oz Au at a currency exchange rate of US$0.714 per C$1.00; 99.8% payable gold; US$5.00/oz off-site costs (refining and transport); and uses an 93.1% metallurgical recovery. The cut-off grade covers processing costs of C$22.75/t, administrative (G&A) costs of C$14.38/t, and a stockpile rehandle cost of C$1.85/t.<br> 5. Mining loss and dilution is based on diluting the Resource model to a 6 m x 6 m x 6 m, including additional mining losses estimated for the removal of isolated blocks (surrounded by waste) and low-grade (<0.55 g/t Au) blocks bounded by waste on three sides.<br> 6. Numbers have been rounded as required by reporting guidelines and may not add.<br> 7. The QP is not aware of any mining, metallurgical, infrastructure, permitting, or other relevant factors that could materially affect the Mineral Reserve estimate, unless outlined in this report. |

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| 1-17 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Mill feed tonnes and gold grades are based on re-blocking the original 1.5 m x 1.5 m x 1.5 m model blocks to a selective mining unit (SMU) block size of 6 m x 6 m x 6 m. Further mining recovery parameters have been introduced, treating the following SMU blocks as waste: all isolated, mineralized blocks (blocks bounded by waste on all sides); and all blocks below 0.55 g/t gold grade that are bounded by waste on all but one side.

1.3.9 Mining Method

Mining is based on conventional open pit drill and blast, load and haul methods. Normal benches are 6 m in height. A "selective" method of mining will be employed in certain areas of the Marathon, Leprechaun, and Berry deposits to enhance grade control. Flitches that are 3 m in height will be mined by 12 m<sup>3</sup> loaders in backhoe configuration. All of the ore is selectively mined, along with an equal amount of waste.

Ore will be hauled to a crusher 3.5 km southwest of the Marathon pit, 3.0 km northeast of the Leprechaun pit and 1.0 km south of the Berry pit. Ore will be crushed to feed the process plant, while waste rock will be deposited into waste rock storage facilities (WRSF) directly adjacent to the pits or used as rockfill to construct a Tailings Management Facility. Ultimate pit limits are split into phases or pushbacks to target higher economic margin material earlier in the mine life. The Leprechaun pit is split into three phases, the Berry pit into five phases, and the Marathon pit into four phases. Initial phases target higher gold grade mineralization and a lower strip ratio.

Cut-off grade optimization has been carried out on the mine production schedule. Ore grades are divided into four grade bins: high-grade ore has a grade equal to or larger than 1.5 g/t, high medium-grade ore has a grade equal to or larger than 1.00 g/t, but less than 1.50 g/t, medium-grade ore has a grade equal to or larger than 0.70 g/t, but less than 1.00 g/t, and low-grade ore has a grade equal to or larger than 0.45 g/t, but less than 0.70 g/t.

Stockpiled ore is reclaimed to the mill as needed to supplement mill feed. Higher grade ore is preferentially feed to the mill in most cases, so if higher grade ore is available in stockpile, it is reclaimed to the mill, and the lower grade ore is stockpiled. Once higher-grade ore is unavailable, either directly from the pits or from a stockpile, lower grade ore is sent directly to the crusher or reclaimed from the stockpile as needed to achieve target mill throughput.

Pit operations continue from 2026 to 2037. Stockpile reclaim operations will also complete in 2037.

Figure 1-2 summarizes the proposed ore and waste schedule for the 2026 Technical Report. The summarized mine schedule is shown in Figure 1-2. The site layout is shown in Figure 1-3.

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| 1-18 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 1-2: Mine Production Schedule, Total Material Movement & Strip Ratio (All Pits)
Source: MMTS 2026.

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| 1-19 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 1-5: Mine Production Schedule

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Total Mine Production** |  | **LOM** | **2026** | **2027** | **2028** | **2029** | **2030** | **2031** | **2032** | **2033** | **2034** | **2035** | **2036** | **2037** |
| Mill Feed | kt | 51490 | 2434 | 2477 | 3200 | 5000 | 5000 | 5000 | 5000 | 5000 | 5000 | 5000 | 5000 | 3380 |
| Mill Feed Grade, Au | g/t | 1.66 | 2.62 | 2.87 | 2.22 | 1.67 | 1.50 | 1.34 | 1.36 | 1.60 | 1.39 | 1.48 | 1.78 | 1.24 |
| Mill Feed Contained Metal | koz | 2748 | 205 | 229 | 229 | 268 | 242 | 216 | 219 | 258 | 223 | 238 | 287 | 134 |
| Ore Mined from Pit | kt | 49926 | 5599 | 5372 | 4695 | 4591 | 3323 | 3489 | 4253 | 4645 | 2880 | 3606 | 5042 | 2431 |
| Ore Grade from Pit, Au | g/t | 1.68 | 1.70 | 1.79 | 1.60 | 1.57 | 1.79 | 1.56 | 1.48 | 1.68 | 1.93 | 1.81 | 1.77 | 1.50 |
| Ore Mined to Stockpile | kt | 11300 | 3529 | 3246 | 2147 | 1593 | 742 | 0 | 0 | 0 | 0 | 0 | 42 | 0 |
| Ore to Stockpile Grade, Au | g/t | 0.91 | 1.06 | 1.00 | 0.76 | 0.73 | 0.66 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.58 | 0.00 |
| Stockpile Reclaim to Mill | kt | 12863 | 364 | 351 | 652 | 2002 | 2419 | 1511 | 747 | 355 | 2120 | 1394 | 0 | 949 |
| Stockpile Grade to Mill, Au | g/t | 0.91 | 1.73 | 2.13 | 1.89 | 1.14 | 0.86 | 0.84 | 0.65 | 0.65 | 0.65 | 0.62 | 0.00 | 0.57 |
| Total Waste from Pit | kt | 629170 | 50543 | 68518 | 75305 | 74309 | 76677 | 69285 | 71696 | 58109 | 41066 | 27312 | 13527 | 2824 |
| Total Mined from Pits | kt | 679097 | 56142 | 73889 | 80000 | 78900 | 80000 | 72775 | 75949 | 62754 | 43946 | 30919 | 18568 | 5255 |
| Total Moved | kt | 691960 | 56506 | 74240 | 80652 | 80902 | 82419 | 74285 | 76696 | 63109 | 46066 | 32312 | 18568 | 6204 |
| Source: MMTS 2026.<br>Notes: 1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes: 1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes: 1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes: 1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes: 1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes: 1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes: 1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes: 1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes: 1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes: 1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes: 1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes: 1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes: 1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes: 1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes: 1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 1-3: Overall Site Layout
Source: MMTS 2026.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

1.3.10 Recovery Methods

The Process Plant currently treats ore via a conventional gravity and cyanidation flowsheet and has been designed to nominally treat 2.5 Mt/a of ore. Run-of-mine (ROM) ore is processed via conventional primary crushing, a two-stage grinding circuit, and a gravity concentration circuit. Gravity circuit tailings are treated via cyanidation and a carbon-in-leach (CIL) circuit and associated gold recovery and carbon handling circuits to produce gold doré. CIL tailings are treated via a cyanide destruction process prior to storage in the TMF.

Plant construction was completed in Q3 2025, and the first gold pour was achieved on September 15, 2025. Commercial production, representing 80% nameplate capacity, was achieved on November 18, 2025.

Studies are underway to increase nominal plant throughput from 2.5 Mt/a to 5 Mt/a, and proposed flowsheet changes are described below and in Section 17.

The current Process Plant consists of the following unit operations to nominally treat 2.5 Mt/a of ore:

&nbsp;&nbsp;&nbsp;&nbsp;· Primary crushing and associated material handling equipment

&nbsp;&nbsp;&nbsp;&nbsp;· Crushed ore stockpile and associated feed and reclaim systems

&nbsp;&nbsp;&nbsp;&nbsp;· Grinding circuit consisting of a semi-autogenous grinding (SAG) and ball mills, hydrocyclone classification and associated pumping and material handling systems to produce a nominal grind size of 80% passing (P<sub>80</sub>) of 75µm

&nbsp;&nbsp;&nbsp;&nbsp;· Gravity concentration circuit with intensive leach reactor

&nbsp;&nbsp;&nbsp;&nbsp;· Pre-aeration, cyanide leaching, and carbon adsorption via a CIL circuit

&nbsp;&nbsp;&nbsp;&nbsp;· Carbon elution via Pressure Zadra circuit

&nbsp;&nbsp;&nbsp;&nbsp;· Carbon handling and regeneration

&nbsp;&nbsp;&nbsp;&nbsp;· Electrowinning and smelting to produce doré

&nbsp;&nbsp;&nbsp;&nbsp;· Cyanide destruction of CIL tailings using SO<sub>2</sub> / O<sub>2</sub> process

&nbsp;&nbsp;&nbsp;&nbsp;· Tailings pumping to the TMF

&nbsp;&nbsp;&nbsp;&nbsp;· Reagent mix and storage circuits

&nbsp;&nbsp;&nbsp;&nbsp;· Air and oxygen circuits

&nbsp;&nbsp;&nbsp;&nbsp;· Water systems (potable water, treated water, gland seal water and process water)

The proposed plant expansion to 5 Mt/a will consist of the following changes to the existing unit operations:

&nbsp;&nbsp;&nbsp;&nbsp;· Addition of a second jaw crusher circuit

&nbsp;&nbsp;&nbsp;&nbsp;· Addition of a secondary crushing circuit to reduce the ore feed size to the SAG mill

&nbsp;&nbsp;&nbsp;&nbsp;· Addition of a pebble crusher at the existing pebble recirculating system

&nbsp;&nbsp;&nbsp;&nbsp;· Addition of a second ball mill

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;· Addition of a pre-leach thickener circuit to increase the density of the slurry at the CIL circuit. The existing tailings thickener will be repurposed as a pre-leach thickener, and a new, larger tailings thickener will be installed.

&nbsp;&nbsp;&nbsp;&nbsp;· Reconfiguration of the pre-aeration (PA), leaching, and CIL tank train and addition of three CIL tanks

&nbsp;&nbsp;&nbsp;&nbsp;· Reagents: Installation of a sulphur burner system as a new source of SO<sub>2</sub> and conversion of the existing sodium metabisulphite system to a sodium hydroxide mix system

&nbsp;&nbsp;&nbsp;&nbsp;· Modification of the existing process water system

1.3.11 Project Infrastructure

The Project is accessed via a 80 km upgraded public gravel road connecting the mine site to Millertown, the paved Buchans Highway, and ultimately the Trans-Canada Highway. Electrical power is supplied by Newfoundland and Labrador Hydro from the 18.4 MW Star Lake hydroelectric station (part of the 604 MW Bay d'Espoir system) through a new 40 km, 66 kV transmission line. The existing electrical substation includes two transformers with 100% redundancy and supports a current peak demand of 19.0 MW. An additional 13.0 MW will be required for the planned Phase 2 process plant expansion, subject to confirmation through an NL Hydro system impact study; a second substation is planned to accommodate the increased load.

Process water is primarily reclaimed from the TMF, with supplementary fresh water sourced from Victoria Lake and distributed for process, potable, and firewater use. Site water management includes 21 planned sedimentation ponds with spillway capacity, decentralized treatment across operational complexes, and staged commissioning beginning in 2026. Infrastructure also includes a permanent process plant, maintenance and administration buildings, a laboratory, a fueling station, explosive storage, and camp facilities. The truck shop and fuel storage capacity are being expanded, and total camp accommodation will increase to approximately 765 personnel to support the Phase 2 expansion.

The Tailings Management Facility (TMF) has been designed and constructed under the Engineer of Record (WSP) with oversight from an Independent Tailings Review Board. The facility is a staged, downstream-raised, zoned rockfill forming a horseshoe-shaped, side-hill impoundment with a final maximum height of 45.5 m and crest length of approximately 3,000 m. The TMF is classified as "Very High" hazard potential under Canadian Dam Association guidelines and is designed for the Environmental Design Flood (100-year event) without discharge through the emergency spillway and for the Inflow Design Flood (Probable Maximum Flood), as well as the Maximum Credible Earthquake. The impoundment includes composite liner systems (LLDPE geomembrane with geosynthetic clay liner), engineered filter and transition zones, seepage collection systems, and geotechnical instrumentation. Tailings are thickened to approximately 65% solids, treated for cyanide destruction, and the process water is ultimately biologically treated using a submerged attached growth reactor (SAGR®) prior to discharge. The TMF is designed for 31.6 Mt of tailings; with projected life-of-mine deposition exceeding this capacity, in-pit tailings deposition in the mined-out Berry pit is planned to commence from approximately 2033.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

1.3.12 Market Studies

Equinox Gold plans to sell gold doré from the Valentine Gold Mine into the global gold market, using internationally recognized refiners or bullion banks under standard industry terms, without conducting a formal marketing study. Sales are expected to occur on a spot-price basis, with customary transportation, insurance, refining, and settlement practices, with optional use of forward sales or hedging arrangements, if appropriate.

1.3.13 Environmental, Permitting, and Social Considerations

Valentine has been in commercial production since November 2025 and operates under provincial and federal approvals granted following completion of the Environmental Impact Statement and Environmental Assessment processes in 2022. A comprehensive compliance and effects-monitoring framework is in place, including 11 Follow-up Monitoring Plans and 13 supporting management plans covering groundwater, surface water, air quality, noise, ARD/ML management, fish and fish habitat, caribou, and other wildlife. The Project is subject to the Metal and Diamond Mining Effluent Regulations (MDMER) and maintains 19 Final Discharge Points, with commissioning of the surface water management system and SAGR treatment unit scheduled for 2026. Baseline studies confirm naturally low-alkalinity surface waters with elevated background metals in some locations; tailings are classified as non-potentially acid generating, while PAG waste rock comprises approximately 1 to 4 percent at Marathon, approximately one percent at Leprechaun, and approximately 11 percent at Berry, managed under an operational ARD/ML program. Groundwater is shallow and fresh with moderate buffering capacity, monitored through 51 wells (including real-time stations), while ambient air and acoustic monitoring demonstrate general compliance with regulatory criteria, with limited episodic exceedances during peak construction. Fisheries monitoring confirms the presence of salmonids and other freshwater species, with offsetting programs and tissue monitoring underway, and adaptive mitigation measures implemented in coordination with Fisheries and Oceans Canada and provincial regulators. Caribou and other Species at Risk are managed under dedicated protection and monitoring plans developed in consultation with provincial wildlife authorities.

The Project maintains all required provincial and federal permits, licenses, leases, and authorizations, including Fisheries Act authorizations, Certificates of Approval, water-use licenses, mining leases, and approved Development, Rehabilitation, and Closure Plans. A Notice of Project Change submitted in 2025 to support stockpile modifications, expanded fuel storage, camp expansion, and plant pad enlargement has been released provincially and is under federal review, while Phase 2 expansion will be addressed through the Project Change process. Waste management is conducted through licensed contractors with segregation, recycling, hazardous material containment, spill contingency planning, and regulated sewage treatment. Community and Indigenous engagement remain central to operations, with Community Cooperation Agreements in place locally and Socio-Economic Agreements executed with Miawpukek First Nation and Qalipu First Nation, supported by employment, procurement, training, and joint environmental sub-committees. The approved Rehabilitation and Closure Plan (updated 2024) provides for progressive reclamation, pit flooding, TMF decommissioning and passive treatment, revegetation, and post-closure monitoring over five to ten years. The estimated third-party closure liability is US$94 million (C$125.9 million), secured through staged financial assurance in accordance with the Newfoundland and Labrador Mining Act.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

1.3.14 Capital and Operating Cost Estimates

The Valentine Gold Mine is an operating open pit gold mine with associated processing facilities, tailings management infrastructure, and site services. Commercial production was achieved on November 18, 2025. Capital and operating costs presented for the Project support the mining and processing of Mineral Reserves over the life of mine (LOM). Capital expenditures incurred prior to April 27, 2026, are considered sunk costs and are excluded from the economic evaluation. Remaining LOM capital requirements total approximately $727 million and include growth capital associated primarily with the Phase 2 mill expansion and supporting infrastructure, sustaining capital required to maintain mining and processing equipment, and closure and reclamation costs.

Capital cost estimates were developed using inputs from Equinox Gold, DRA Global, Moose Mountain, and other third-party contributors, drawing on budget quotations, historical construction data from the existing plant, engineering quantities, and industry benchmarks. The estimate conforms to AACE International recommended practice 18R-97 and is consistent with a Class-4 level estimate, reflecting the level of engineering definition available for the Phase 2 expansion and related infrastructure. Capital costs include expenditures for mining fleet expansion and replacement, process plant expansion, tailings management facility raises and water management infrastructure, site infrastructure upgrades, construction Indirects, and owner's costs. Contingency allowances were applied to individual cost elements based on the level of definition and perceived risk.

Average life-of-mine on-site operating costs are estimated at $72.21 per tonne of ore processed, equivalent to $1,444 per ounce of gold produced. Mining, processing, and general and administrative (G&A) costs were estimated using operational data, budget forecasts, and first-principles equipment productivity assumptions. Mining costs incorporate equipment operating hours, labour, fuel, maintenance, and consumables, while processing costs include workforce, power, grinding media, reagents, and maintenance materials. The operation is expected to employ approximately 466 full-time personnel during steady-state operations, with most employees residing within Newfoundland, making the mine a significant regional employer and contributor to the provincial economy.

1.3.14.1 Mining Capital Cost

The initial mine equipment fleet has already been purchased; these costs are excluded form the mining costs in this study. Expansion and replacement fleet is purchased in the year it is required. Costs for expansions to dispatch/radios, spare parts inventory and GPS navigation are included.

Existing mine infrastructure and roads that were constructed before January 2026 have not been included in the mine costs. This includes the truck shop, warehouses, buildings, external haul roads, topsoil stripping, tools, survey systems, fuel/lube equipment, and rescue/safety supplies.

1.3.14.2 Mine Operating Cost

Owner run mine operations will include drilling, blasting, loading, hauling, and pit, haul road and pile maintenance functions. Mobile equipment maintenance operations will also be managed by the owner. Technical services functions will also be managed by the owner and will include geology, engineering and surveying. Mining operations will be based on 365 operating days per year (d/a) with two 12-hour shifts/day. An allowance of 12 days of no mine production has been built into the mine schedule to allow for adverse weather conditions.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

The mining fleet will include diesel powered rotary drills with a 190 mm bit size for production drilling; down the hole (DTH) drills with 140-171 mm bit size for wall control drilling; 15.5 m<sup>3</sup> bucket sized diesel powered face shovels, 12 m<sup>3</sup> bucket sized diesel powered excavators, and 13.5 m<sup>3</sup> bucket sized wheel loaders for production loading; 133-tonne and 90-tonne payload rigid-frame haul trucks for production hauling; plus ancillary and service equipment to support the mining operations. In-pit dewatering systems will be established for the pit. All surface water and precipitation in the pits will be handled by diesel powered pumps.

Maintenance on mine equipment will be performed in the field with major repairs to mobile equipment in the shops located near the plant facilities.

Annual mine operating costs per tonne LOM average is $2.83/t mined.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

2.0 Introduction

SLR Consulting (Canada) Ltd. (SLR) was retained by Equinox Gold Corp. (Equinox) to prepare an updated NI 43-101 Technical Report on the Valentine Gold Mine (Valentine or the Project), located in central Newfoundland and Labrador, Canada. This Technical Report has been prepared in accordance with the requirements of National Instrument 43-101 – *Standards of Disclosure for Mineral Projects* (NI 43-101) and the associated Form 43-101F1. The purpose of this Technical Report is to document and summarize the scientific and technical information for the Project, including Mineral Resource and Mineral Reserve estimates, mine design and schedule, metallurgical test work and process design, infrastructure, environmental and permitting status, capital and operating cost estimates, and associated economic analysis as of the effective date of the report, December 31, 2025 (the Effective Date).

This Report has been prepared for Equinox Gold Corp. by the qualified persons (QPs) from SLR, Equinox, Moose Mountain Technical Services (MMTS), Terrane Geosciences Inc. (Terrane), and Lincoln Metallurgical Inc. (Lincoln), as listed in Table 2-1.

Equinox Gold Corp. (TSX: EQX; NYSE American: EQX) is a Canadian-based gold mining company with a diversified portfolio of long-life operations and growth projects across the Americas. The company's recently commissioned Valentine Gold Mine has achieved commercial production in November 2025, marking a significant milestone in its strategic expansion of Canadian operations. At Valentine, the processing plant (the Process Plant) has commenced ramp-up, achieving throughput and recoveries that exceed commissioning-period expectations, and is projected to reach full nameplate capacity in 2026. The mine is expected to deliver between 150,000 and 200,000 ounces of gold in 2026 and align with Equinox's disciplined objective of organic production growth, operational reliability, and responsible mining practices. The planned Phase 2 Expansion, which will increase plant throughput to 4.9 Mt/a, begins in 2026 and will be completed circa 2029.

This report supersedes the previous technical report titled "Valentine Gold Project, NI 43-101 Technical Report and Feasibility Study," dated November 30, 2022.

#### Table 2-1: Qualified Persons and Responsibilities

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| **QP, Designation, Title** | **Company** | **Responsible for Sections** | **Independence from Equinox** | **Date of Last Site Visit** |
| Stuart Collins, P.E.,<br> Principal Mining Engineer | SLR | 1.1, 1.1.1.6, 1.1.2.6, 1.3.1 to 1.3.3, 1.3.12, 1.3.14, 2 to 6, 19, 21, 24, 25.1.6, 26.6 | Yes | January 21, 2026 |
| Nicholas Capps, P.Geo.,<br> Director, Exploration | Equinox | 1.3.4 to 1.3.5, 7 to 12, 23 | No | December 8 to 12, 2025 |
| Niel de Bruin, P. Geo.,<br> VP Mineral Resources | Equinox | 1.1.1.1, 1.1.2.1, 1.1.3 (Resources), 1.3.7, 12, 14, 25.1.1, 25.2.1, 26.1 | No | October 14 to 18, 2025 |
| Neil Lincoln, P.Eng., <br> Independent Metallurgical Consultant | Lincoln Metallurgical Inc | 1.1.1.3, 1.1.2.3, 1.3.6, 1.3.10, 13, 17, 21, 25.1.3, 26.3 | Yes | June 17 to 19, 2025 |
| Jeffrey Colden, P.Eng.<br> Lead Mining Engineer | MMTS | 1.1.1.2, 1.1.2.2, 1.3.8, 1.3.9, 15, 16.0 to 16.1.2, 16.2 to 16.8, 16.8.2 to 16.9, 25.1.2, 26.2 | No | September 7, 2024 |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

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| **QP, Designation, Title** | **Company** | **Responsible for Sections** | **Independence from Equinox** | **Date of Last Site Visit** |
| Tony Gilman<br> Principal Rock Mechanics Engineer | Terrane | 16.1.3, 16.8.1 | Yes | November 17 to 19, 2025 |
| Kelly Boychuk, P.Eng. MBA<br> SVP Mining Infrastructure | Equinox | 1.1.1.4, 1.1.2.4, 1.1.3 (TMF), 1.3.11, 18, 25.1.4, 25.2.1, 26.4 | No | September 8 to 10, 2025 |
| Scott Davidson, P.Geo., <br> Director, Environmental Permitting and Compliance | Equinox | 1.1.1.5, 1.1.2.5, 1.3.13, 20, 25.1.5, 26.5 | No | January 21, 2026 |
| Grant A. Malensek, P.Eng., Technical Director, Mining Advisory | SLR | 1.2, 22 | Yes |  |
| All |  | 27 | Yes |  |

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The QPs held discussions with the following personnel:

&nbsp;&nbsp;&nbsp;&nbsp;· Jamie Russell, Safety and Sustainability Manager, Valentine Gold Mine

&nbsp;&nbsp;&nbsp;&nbsp;· Hubert Schimann, General Manager – Operations, Valentine Gold Mine

&nbsp;&nbsp;&nbsp;&nbsp;· Mathew MacPhail, P.Eng., VP Growth and Business Planning, Equinox Gold Corp.

&nbsp;&nbsp;&nbsp;&nbsp;· Ean Finch, P. Geo., Senior Mineral Resource Geologist, Equinox Gold Corp.

· Marco Cavasin Vice President Tax, Equinox Gold Corp.

· Bret McDermott, VP Business Planning, Equinox Gold Corp.

· Yang Li, Director Tax, Equinox Gold Corp.

· Victoria Smyth, Capital Projects Manager, Valentine Gold Mine

&nbsp;&nbsp;&nbsp;&nbsp;· Dylan Abbott, Project Geologist, Valentine Gold Mine

&nbsp;&nbsp;&nbsp;&nbsp;· Jon Remedios, Project Geologist, Valentine Gold Mine

&nbsp;&nbsp;&nbsp;&nbsp;· Jesse Wilson, Geoscience Analyst, Valentine Gold Mine

&nbsp;&nbsp;&nbsp;&nbsp;· Ashley Mendonca, Database Geologist, Valentine Gold Mine

&nbsp;&nbsp;&nbsp;&nbsp;· Eugene Gopalkista, P.Geo., Technical Services Manager, Valentine Gold Mine

&nbsp;&nbsp;&nbsp;&nbsp;· Paul Baker, P.Eng., Senior Mine Engineer, Valentine Gold Mine

&nbsp;&nbsp;&nbsp;&nbsp;· Phillip Gartner, Senior Mine Engineer, Valentine Gold Mine

&nbsp;&nbsp;&nbsp;&nbsp;· Adam Wall, P.Geo., Senior Mine Geologist, Valentine Gold Mine

&nbsp;&nbsp;&nbsp;&nbsp;· Alex Wilson, P.Geo., Senior Mine Geologist, Valentine Gold Mine

&nbsp;&nbsp;&nbsp;&nbsp;· Gary Kennell Environmental Superintendent, Valentine Gold Mine

&nbsp;&nbsp;&nbsp;&nbsp;· Scott Finlay Senior Environmental Advisor, Valentine Gold Mine

&nbsp;&nbsp;&nbsp;&nbsp;· Kyle Kuntz, Project Manager VGM Phase 2 Expansion, Equinox Gold Corp

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;· James Allen, Engineering Manager VGM Phase 2 Expansion, Equinox Gold Corp

&nbsp;&nbsp;&nbsp;&nbsp;· Gordon Lung, Project Controls Manager VGM Phase 2 Expansion, Equinox Gold Corp

&nbsp;&nbsp;&nbsp;&nbsp;· Marcello Locatelli, Project Manager VGM Phase 2 Expansion, DRA Global

&nbsp;&nbsp;&nbsp;&nbsp;· Jordan Zampini, Process Lead VGM Phase 2 Expansion, DRA Global

The documentation reviewed and other sources of information are listed at the end of this Technical Report in Section 27 References.

2.1 Site Visits

Kelly Boychuk's most recent site inspection took place from September 8 to 10, 2025. This included a site walk-over with the Engineer of Record, Deputy Engineer of Record and members of the Independent Tailings Review Board (ITRB) to observe construction of Stage 3 of the tailings management facility (TMF) and initial tailings deposition into the TMF, as well as observation of the site infrastructure.

Jeffrey Colden's most recent site inspection took place on September 7, 2024. The QP assessed the general topography of the Project, inspecting proposed open pit, stockpile, and haul road locations, and well as existing and proposed infrastructure.

Tony Gilman's most recent site visit was from November 17 to 19, 2025. He was onsite for a geotechnical performance review of the pit slopes at Marathon, Leprechaun, and Barry, and met with the VGM geotechnical and mine engineering team to discuss future planning and geotechnical aspects of the pit slopes.

Neil Lincoln's most recent site inspection took place from June 17 to 19, 2025. The QP inspected the process plant, permanent camp, main access road, and existing infrastructure.

Nic Capps' latest site visit occurred from December 8 to 12, 2025. During this visit, he reviewed current exploration methods, core from active drills, the drill rigs in operation, and discussed interpretation of the drilling results with geologists on site.

Niel de Bruin conducted a site visit from October 14 to 18, 2025. During the visit, the QP inspected drill core from the Leprechaun, Berry, Marathon, and Frank Zone deposits and verified core logging practices, database management procedures, resource modelling workflows, drill hole planning, program execution, and assay review. The QP also confirmed drill collar locations and observed active drilling operations. Additional field verification included examination of pit walls to compare exposed geology with the geological and resource models, as well as review of trench and outcrop exposures to confirm vein orientations, dyke geometries, and characteristic mineralization styles.

Scott Davidson's most recent site inspection took place on January 21, 2026. This included a site tour of the status of pit development, waste rock, and overburden dump construction, and the sediment ponds. The QP met with the environmental team to review 2025 performance data and the status of permitting projects.

Stuart Collins conducted a site visit on January 21, 2026. During the site visit, the QP observed that the mine, mill, and site infrastructure were in operation.

Rob Duinker, Principal, Financial Analysis and Communication for SLR, visited the site on January 21, 2026, on behalf of Grant A. Malensek. During the January 21, 2026, site visit, the mine, mill, and site infrastructure were observed in operation.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

2.2 List of Abbreviations

Units of measurement used in this Technical Report conform to the metric system. All currency in this Technical Report is US dollars (US$) unless otherwise noted.

2.2.1 Units of Measure

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| m | Micron | &nbsp;&nbsp;kVA | kilovolt-amperes |
| mg | Microgram | &nbsp;&nbsp;kW | kilowatt |
| a | Annum | &nbsp;&nbsp;kWh | kilowatt-hour |
| A | Ampere | &nbsp;&nbsp;L | litre |
| bbl | Barrels | &nbsp;&nbsp;lb | pound |
| Btu | British thermal units | &nbsp;&nbsp;L/s | litres per second |
| °C | degree Celsius | &nbsp;&nbsp;m | metre |
| C$ | Canadian dollars | &nbsp;&nbsp;M | mega (million); molar |
| cal | Calorie | &nbsp;&nbsp;m<sup>2</sup> | square metre |
| cfm | cubic feet per minute | &nbsp;&nbsp;m<sup>3</sup> | cubic metre |
| cm | Centimetre | &nbsp;&nbsp;MASL | metres above sea level |
| cm<sup>2</sup> | square centimetre | &nbsp;&nbsp;m<sup>3</sup>/h | cubic metres per hour |
| d | Day | &nbsp;&nbsp;mi | mile |
| dia | Diameter | &nbsp;&nbsp;min | minute |
| dmt | dry metric tonne | &nbsp;&nbsp;mm | micrometre |
| dwt | dead-weight ton | &nbsp;&nbsp;mm | millimetre |
| °F | degree Fahrenheit | &nbsp;&nbsp;mph | miles per hour |
| ft | Foot | &nbsp;&nbsp;MVA | megavolt-amperes |
| ft<sup>2</sup> | square foot | &nbsp;&nbsp;MW | megawatt |
| ft<sup>3</sup> | cubic foot | &nbsp;&nbsp;MWh | megawatt-hour |
| ft/s | foot per second | &nbsp;&nbsp;oz | Troy ounce (31.1035g) |
| g | Gram | &nbsp;&nbsp;oz/st, opt | ounce per short ton |
| G | giga (billion) | &nbsp;&nbsp;ppb | part per billion |
| Gal | Imperial gallon | &nbsp;&nbsp;ppm | part per million |
| g/L | gram per litre | &nbsp;&nbsp;psia | pound per square inch absolute |
| Gpm | Imperial gallons per minute | &nbsp;&nbsp;psig | pound per square inch gauge |
| g/t | gram per tonne | &nbsp;&nbsp;RL | relative elevation |
| gr/ft<sup>3</sup> | grain per cubic foot | &nbsp;&nbsp;s | second |
| gr/m<sup>3</sup> | grain per cubic metre | &nbsp;&nbsp;st | short ton |
| ha | Hectare | &nbsp;&nbsp;stpa | short ton per year |
| hp | Horsepower | &nbsp;&nbsp;stpd | short ton per day |
| hr | Hour | &nbsp;&nbsp;t | metric tonne |
| Hz | Hertz | &nbsp;&nbsp;tpa | metric tonne per year |
| in. | Inch | &nbsp;&nbsp;tpd | metric tonne per day |
| in<sup>2</sup> | square inch | &nbsp;&nbsp;US$ | United States dollar |
| J | Joule | &nbsp;&nbsp;USg | United States gallon |
| k | kilo (thousand) | &nbsp;&nbsp;USgpm | US gallon per minute |
| kcal | Kilocalorie | &nbsp;&nbsp;V | volt |
| kg | Kilogram | &nbsp;&nbsp;W | watt |
| km | Kilometre | &nbsp;&nbsp;wmt | wet metric tonne |
| km<sup>2</sup> | square kilometre | &nbsp;&nbsp;wt% | weight percent |
| km/h | kilometre per hour | &nbsp;&nbsp;yd<sup>3</sup> | cubic yard |
| kPa | Kilopascal | &nbsp;&nbsp;yr | year |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

2.2.2 Abbreviations

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| | |
|:---|:---|
| **Abbreviation** | **Definition** |
| AEP | Annual Exceedance Probability |
| Ai | Abrasion index |
| AQP | Aphanitic quartz porphyry dykes |
| ARD | acid rock drainage |
| ARO | Asset retirement obligation |
| BWi | Bond ball mill index |
| CCME | Canadian Council of Ministers of the Environment |
| CDA | Canadian Dam Association |
| CI | Crushing index |
| CIL | Carbon-in-leach |
| CIM | Canadian Institute of Mining, Metallurgy and Petroleum |
| CN | cyanide |
| CNG | Central Newfoundland Forest |
| CQA | Construction quality assurance |
| CRM | certified reference material |
| CWi | Bond crushing work index |
| CWQG | Canadian Water Quality Guidelines |
| DFO | Fisheries and Oceans Canada |
| DWT | Drop weight test |
| EA | environmental assessment |
| EDF | Environmental Design Flood |
| EGL | Effective grinding length |
| e-GRG | Extended gravity recoverable gold |
| EIS | environmental impact statement |
| EM | electromagnetic |
| EOR | Engineer of Record |
| Equinox | Equinox Gold Corp. |
| FAL | Protection of Aquatic Life (Freshwater) |
| FDP | final discharge point |
| FMP | follow-up monitoring plan |
| FMP | follow-up monitoring plan |
| FOS | factor of safety |
| GB | gabbro |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

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|:---|:---|
| HG | High-grade |
| HMG | High medium-grade |
| ICP | inductively coupled plasma |
| IDF | Inflow Design Flood |
| ILR | Intensive leach reactor |
| IP | induced polarization |
| ITRB | Independent Tailings Review Board |
| LAA | Local Assessment Area |
| LG | Low-grade |
| LOM | life of mine |
| MD | Mafic dypes |
| MDMER | *Metal and Diamond Mining Effluent Regulations* |
| MFN | Miawpukek First Nation |
| MG | Medium-grade |
| ML | Metal leaching |
| MOU | memorandum of understanding |
| NaOH | Sodium hydroxide |
| NL AAQS | Newfoundland and Labrador Ambient Air Quality Standards |
| NL Hydro | Newfoundland and Labrador Hydro |
| NLDECCC | Newfoundland and Labrador Department of Environment, Conservation and Climate Change |
| NLDFFA | Newfoundland and Labrador Department of Fisheries, Forestry and Agriculture |
| NLDFLR | Newfoundland and Labrador Department of Fisheries and Land Resources |
| NLDIET | Newfoundland and Labrador Department of Industry, Energy and Technology |
| NLDTCAR | Newfoundland and Labrador Department of Tourism, Culture, Arts and Recreation |
| NPI | net profit interest |
| NSR | net smelter return |
| OB | Overburden |
| OMS | Operation, Maintenance, and Surveillance |
| PAA | Protected Areas Association |
| PAG | potentially acid-generating |
| PoF | probability of failure |
| QA/QC | quality assurance / quality control |
| QEMSCAN | quantitative evaluation of minerals by scanning electron microscopy |
| QFN | Qalipu First Nation |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

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| | |
|:---|:---|
| QTP | quartz-tourmaline-pyrite |
| RAA | Regional Assessment Area |
| RC | reverse circulation |
| RCP | Rehabilitation and Closure Plan |
| ROM | Run-of-mine |
| RoW | right-of-way |
| RWi | Bond rod mill index |
| SAGR | Submerged attached growth reactor |
| SAR | Species at Risk |
| SEA | socio-economic agreement |
| SLR | SLR Consulting (Canada) Ltd. |
| SMBS | Sodium metabisulphite |
| SMU | Selective mining unit |
| SPI | SAG power index |
| TMF | tailings management facility |
| TOC | Total organic carbon |
| TRJ | Trondhjemite |
| TS | topsoil |
| TSP | Total Suspended Particulates |
| VLF | very low frequency |
| VLIC | Valentine Lake Intrusive Complex |
| VLSG | Victoria Lake Supergroup |
| VLSZ | Valentine Lake Shear Zone |
| VMS | volcanogenic massive sulphide |
| VSD | Variable speed drive |
| WRMD | Water Resources Management Division |
| WRSF | waste rock storage facility |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

3.0 Reliance on Other Experts

This Technical Report has been prepared by QPs from SLR, Equinox, MMTS, and Lincoln for Equinox. The information, conclusions, opinions, and estimates contained herein are based on:

&nbsp;&nbsp;&nbsp;&nbsp;· Information available to the QPs at the time of preparation of this Technical Report.

&nbsp;&nbsp;&nbsp;&nbsp;· Assumptions, conditions, and qualifications as set forth in this Technical Report.

Information related to legal, socio-economic, land title, or political issues has been provided by Equinox and includes, without limitation, the validity of mineral tenure, the status of environmental and other liabilities, and permitting to allow completion of annual assessment work. These matters were not independently verified by the QPs but appear to be reasonable representations that are suitable for inclusion in Section 4 of this report. The QP for Section 4 has not attempted to verify the legal status of the property; however, the Government of Newfoundland and Labrador, Department of Energy and Mines' online mineral claims staking system, Mineral Lands Administration Portal (MINLAP), was reviewed by the QP on December 1, 2025, and reports that the Equinox mineral claims are active and in good standing at the Effective Date.

SLR has relied on the Equinox Gold Corp. Tax team for guidance on applicable taxes, royalties, and other government levies or interests applicable to revenue or income from Valentine. The QPs have relied on Ms. Li, Director Tax, Mr. McDermott, VP Business Planning, and Mr. Cavisin, VP Tax, all of Equinox Gold Corp., for information on applicable taxes, royalties, and other government levies or interests applicable to revenue or income from the Project in sections 4 and 22, and associated disclosure in Section 1.

Except for the purposes legislated under provincial securities laws, any use of this Technical Report by any third party is at that party's sole risk.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

4.0 Property Description and Location

4.1 Location

The Valentine Gold Mine Property is in the west-central region of the Island of Newfoundland, Canada, and is covered by National Topographic System (NTS) map sheets 12A/06 and 12A/07 (Figure 4-1). The approximate center of the property is situated at UTM 493,399m Easting and 5,362,396m Northing, Zone 21N (NAD83), corresponding to a geographic coordinate of 48.41468° N latitude and 57.08921° W longitude.

The property is 100% owned by Equinox and hosts five defined gold deposits: Leprechaun, Sprite, Berry, Marathon, and Victory, along with several additional early-stage gold prospects. Collectively, these deposits and mineral occurrences extend over a 32-kilometre-long northeast-trending structural corridor known as the Valentine Gold Mine.

4.2 Land Tenure

The mineral land tenure system in Newfoundland and Labrador (NL) is administered by the Mineral Lands Division of the Department of Energy and Mines. Mineral licenses grant holders the exclusive right to explore for minerals on the lands described within each license. Licenses are registered through the Mineral Claims Recorder's Office and consist of 500 m x 500 m claim blocks arranged on a standardized provincial grid.

Mineral rights are acquired through online map staking using the Province's MIRIAD system. Each claim requires a fee of US$48.51 (C$65), consisting of a US$11.19 (C$15) staking fee and a $US37.31 (C$50) refundable security deposit. Licenses are issued for a five-year term and may be held indefinitely if annual assessment work is completed and renewal fees are paid. Minimum expenditures per claim escalate from Years 1 to 5 and then in five-year increments until year 30, after which a standard expenditure per claim block is maintained for the remaining duration of the license. Renewal fees are due in Years 5, 10, 15, and annually thereafter. Assessment reports must be submitted within 60 days of each anniversary date.

In Newfoundland and Labrador, mineral licences and mining leases are separate and mutually exclusive tenure types under the Mineral Act. Mineral licences grant the right to explore, while mining leases grant the right to mine and are issued only after regulatory approvals. Mineral licences are not converted into mining leases; rather, specific licence areas are replaced by mining leases upon approval, and the original licences are cancelled for those areas. At Valentine, mining leases cover the developed mine footprint, while the broader district-scale exploration ground remains held under mineral licences. Excess assessment work may be carried forward as credit for up to nine years for expenditures made in Years 1 through 20 and up to five years for expenditures in Years 21 onward. No excess expenditures may be carried forward past year 20. Mining leases require annual rental of US$89.55/ha (C$120/ha) and confer exclusive rights to develop and extract unalienated minerals, subject to environmental approval. A summary of the Valentine Mining Leases is presented in Table 4-1.

#### Table 4-1: Valentine Summary of Mining Leases

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|:---|:---|:---|:---|
| &nbsp;&nbsp;**Lease/Claim Number** | &nbsp;&nbsp;**Size (ha)** | &nbsp;&nbsp;**Lease Holder** | &nbsp;&nbsp;**Expiry** |
| &nbsp;&nbsp;246 (037735M) &nbsp;&nbsp;Mining | &nbsp;&nbsp;115.845 | &nbsp;&nbsp;Marathon Gold Corp. | &nbsp;&nbsp;June 12, 2042 |
| &nbsp;&nbsp;247 (037732M) &nbsp;&nbsp;Mining | &nbsp;&nbsp;89.740 | &nbsp;&nbsp;Marathon Gold Corp. | &nbsp;&nbsp;June 12, 2042 |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

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| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Lease/Claim Number** | &nbsp;&nbsp;**Lease Type** | &nbsp;&nbsp;**Size (ha)** | &nbsp;&nbsp;**Lease Holder** | &nbsp;&nbsp;**Expiry** |
| &nbsp;&nbsp;171 | &nbsp;&nbsp;Surface | &nbsp;&nbsp;2129.55 | &nbsp;&nbsp;Marathon Gold Corp. | &nbsp;&nbsp;June 12, 2042 |
| &nbsp;&nbsp;250 (10943M) | &nbsp;&nbsp;Mining | &nbsp;&nbsp;24.520 | &nbsp;&nbsp;Marathon Gold Corp. | &nbsp;&nbsp;April 9, 2044 |
| &nbsp;&nbsp;251 (10899M) | &nbsp;&nbsp;Mining | &nbsp;&nbsp;116.885 | &nbsp;&nbsp;Marathon Gold Corp. | &nbsp;&nbsp;April 9, 2044 |
| &nbsp;&nbsp;177 | &nbsp;&nbsp;Surface | &nbsp;&nbsp;451.858 | &nbsp;&nbsp;Marathon Gold Corp. | &nbsp;&nbsp;April 9, 2044 |

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Mineral licenses do not include surface rights. Surface leases are issued following release from the environmental assessment process and provide tenure for mine infrastructure and operations. Surface lease issuance requires consultation between the Minister of Natural Resources and the Minister responsible for the Lands Act.

The Valentine Gold Mine Property consists of 30 contiguous mineral licenses covering 313 km² (31,300 ha), all held 100% by Equinox and in good standing as of the Effective Date. Equinox holds a 2,129 ha surface lease and recently received an additional 452 ha of surface rights required for the Berry Pit and associated infrastructure. No known competing rights are expected to impede this expansion.

#### Table 4-2: Valentine Mineral License Summary

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **License** | **Issue Date** | **Work Report Year** | **Renewal Date** | **Number of Claims** | **Area (ha)** | **Expenditures Required (C$)** | **Expenditure Due Date** |
| 018687M | 3/29/2011 | 15 | 3/30/2026 | 6 | 150 | $6644.36 | 3/29/2030 |
| 019444M | 10/17/2011 | 14 | 10/19/2026 | 6 | 150 | $1745.78 | 10/17/2030 |
| 036157M | 6/22/2023 | 3 | 6/22/2028 | 4 | 100 | $1335.44 | 6/22/2028 |
| 036158M | 6/22/2023 | 3 | 6/22/2028 | 6 | 150 | $600.16 | 6/22/2029 |
| 036432M | 8/31/2023 | 3 | 8/31/2028 | 4 | 100 | $1143.73 | 8/31/2027 |
| 036435M | 8/31/2023 | 3 | 8/31/2028 | 7 | 175 | $2182.65 | 8/31/2027 |
| 036892M | 12/17/2023 | 2 | 12/17/2028 | 27 | 675 | $4059.64 | 12/17/2026 |
| 037044M | 1/18/2024 | 2 | 1/18/2029 | 20 | 500 | $3899.00 | 1/18/2028 |
| 037307M | 2/15/2024 | 2 | 2/15/2029 | 1 | 25 | $150.36 | 2/15/2027 |
| 037731M | 4/27/2004 | 22 | 4/27/2026 | 77 | 1925 | $38679.76 | 4/27/2026 |
| 037732M | 4/27/2004 | 22 | 4/27/2026 | 90 | 2250 | $180000.00 | 4/27/2026 |
| 037734M | 12/29/2011 | 15 | 12/29/2026 | 100 | 2500 | $200000.00 | 12/29/2032 |
| 037735M | 4/27/2004 | 22 | 4/27/2026 | 72 | 1800 | $50775.16 | 4/27/2030 |
| 037736M | 4/27/2004 | 22 | 4/27/2026 | 85 | 2125 | $164429.83 | 4/27/2029 |
| 037737M | 4/27/2004 | 22 | 4/27/2026 | 99 | 2475 | $57995.24 | 4/27/2027 |
| 037738M | 10/17/2011 | 14 | 10/19/2026 | 97 | 2425 | $108637.44 | 10/17/2029 |
| 037739M | 9/6/2007 | 19 | 9/6/2027 | 47 | 1175 | $94000.00 | 9/6/2028 |
| 037742M | 11/26/2009 | 16 | 11/26/2029 | 161 | 4025 | $322000.00 | 11/26/2030 |
| 037743M | 9/6/2007 | 19 | 9/6/2027 | 120 | 3000 | $240000.00 | 9/6/2028 |
| 038031M | 7/19/2024 | 2 | 7/19/2029 | 32 | 800 | $1551.45 | 7/19/2029 |
| 038379M | 10/9/2024 | 1 | 10/9/2029 | 6 | 150 | $1000.00 | 10/9/2025 |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **License** | **Issue Date** | **Work Report Year** | **Renewal Date** | **Number of Claims** | **Area (ha)** | **Expenditures Required (C$)** | **Expenditure Due Date** |
| 038870M | 3/13/2025 | 1 | 3/13/2030 | 15 | 375 | $3000.00 | 3/13/2026 |
| 038874M | 3/13/2025 | 1 | 3/13/2030 | 6 | 150 | $1200.00 | 3/13/2026 |
| 038891M | 3/13/2025 | 1 | 3/13/2030 | 34 | 850 | $6800.00 | 3/13/2026 |
| 039088M | 4/10/2025 | 1 | 4/10/2030 | 41 | 1025 | $8200.00 | 4/10/2026 |
| 039091M | 4/10/2025 | 1 | 4/10/2030 | 34 | 850 | $6800.00 | 4/10/2026 |
| 039349M | 6/26/2025 | 1 | 6/26/2030 | 21 | 525 | $4200.00 | 6/26/2026 |
| 039355M | 6/26/2025 | 1 | 6/26/2030 | 8 | 200 | $1600.00 | 6/26/2026 |
| 039517M | 8/21/2025 | 1 | 8/21/2030 | 15 | 375 | $3000.00 | 8/21/2026 |
| 039836M | 11/20/2025 | 1 | 11/20/2030 | 11 | 275 | $2200.00 | 11/20/2026 |
| **Total** |  |  | **Total** | **1252** | **31300** | **$1517830.00** |  |

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Source: Newfoundland-Labrador, Department of Energy and Mines, Mineral Lands Administration Portal, December 1, 2025

In Newfoundland, a "surface lease" for a mining project can only be obtained once the proposed project has been released from environmental assessment, which has occurred for the Project. The additional surface lease area required to encompass the Berry area is immediately adjacent to the existing Valentine Gold Mine surface lease, is now part of the overall plan, and has been incorporated into the existing mineral licenses held and maintained by Equinox.

Together, the mineral licenses, surface lease, and compliance with annual assessment requirements provide secure and continuous tenure for exploration and development across the Valentine Gold Mine. The land tenure is illustrated in Figure 4-2.

4.3 Royalties and Encumbrances

The Valentine Gold Mine (now 100% owned by Equinox following its merger with Calibre Mining Corp. [Calibre] and Calibre's prior acquisition of Marathon Gold Corporation [Marathon Gold]) was previously subject to a 7.5% net profit interest (NPI) royalty covering the Leprechaun, Sprite and part of the Berry deposits, initially granted to the Reid Newfoundland Company Limited under early-20th-century railway development. On March 14, 2022, Marathon Gold cancelled that NPI by paying US$373k (C$500,000) in cash and issuing 1,341,607 common shares (valued at approximately C$4.0 million) to Reid, plus an additional US$2.239 million (C$3 million) cash contingent on environmental approval.

Current royalty encumbrances include:

&nbsp;&nbsp;&nbsp;&nbsp;· A 2% net smelter return (NSR) royalty payable to Mr. Kevin Keats on gold recovered from mineral licence 016740M (for which no Mineral Resource estimate is available).

&nbsp;&nbsp;&nbsp;&nbsp;· A 3% NSR royalty payable to Franco-Nevada Corporation (FNV)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o A 2% NSR royalty was sold by Marathon Gold in February 2019 to Franco-Nevada Corporation (FNV) covering the entire Valentine Gold Mine (precious and base metals). Marathon Gold retained an option to repurchase 0.5% of the NSR for US$7 million until December 31, 2022.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Marathon Gold did purchase back the 0.5% NSR on January 25, 2023, from FNV, resulting in 1.5% being outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o On June 8, 2023, Marathon Gold sold an additional 1.5% NSR to FNV for US$45 million, resulting in FNV holding an aggregate 3% NSR.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

No other royalties, back-in rights, or material encumbrances are publicly disclosed beyond those presented.

The QP is not aware of any environmental liabilities on the property. Equinox has all the required permits to conduct the proposed work on the property. The QP is not aware of any other significant factors and risks that may affect access, title, or the right or ability to perform the proposed work program on the property.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 4-1: Location Map
Source: Equinox 2026.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 4-2: Land Tenure Map
Source: Equinox 2026.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

5.0 Accessibility, Climate, Local Resources, Infrastructure and Physiography

5.1 Accessibility

The Valentine Gold Mine is accessible year-round via existing road infrastructure. A nominal 10 m wide, approximately 80 km long, maintained gravel access road connects the site to the Town of Millertown (Figure 4-1). The road does have several single-lane bridge crossings. From Millertown, the route continues via the Buchans Highway, which links directly to the Trans-Canada Highway, Newfoundland's primary east-to-west transportation corridor connecting all major population centres. This route also provides access to Equinox's regional office in Grand Falls–Windsor.

The total travel time from Grand Falls–Windsor to the Project site is approximately 4 hours by road. The nearest commercial airport is in Gander, which also serves as the primary hub for helicopter transport to the site; however, more flights are available from the Deer Lake Airport.

The Project achieved its first gold production in 2025; all primary access routes are now actively supporting construction, operations, and supply chain logistics.

5.2 Climate

Valentine is located within the temperate maritime climate zone of central Newfoundland, characterized by relatively mild summers, cold winters, and weather patterns strongly influenced by the North Atlantic Ocean. This climate produces a wide range of seasonal conditions that must be considered in mine planning, construction, and operations.

Historical records from the Buchans weather station, the closest long-term Environment Canada monitoring site, report an average annual precipitation of approximately 1,236 mm, of which a little more than one-quarter typically falls as snow. Snow accumulation can reach one metre or more, with persistent snow cover generally from late November through April. Freeze–thaw cycles are common during the shoulder seasons, influencing road maintenance requirements and water-management planning on site.

Seasonal temperatures are moderate by Canadian standards. Daily average temperatures range from -8.4°C to 16.3°C, with the lowest in February and the highest in July. Extreme daily maximum and minimum temperatures range between -33.5°C (February) and 33°C (July). These values are consistent with regional extremes in central Newfoundland and ensure appropriate sizing of mechanical systems, heat tracing, ventilation, and material-handling infrastructure.

Wind conditions in central Newfoundland are generally moderate year-round, with stronger gusts occurring during winter frontal systems. Fog and low cloud ceilings can occur during warmer months, particularly in the mornings, temporarily affecting aviation and helicopter access. Despite these variations, the regional climate enables year-round mining, construction, and haulage, provided that standard winter operating practices, such as snow removal, road sanding, and cold-weather equipment protocols, are adhered to.

5.3 Local Resources

Newfoundland and Labrador has a provincial population of approximately 520,000 residents, with more than half living on the Avalon Peninsula, including the provincial capital and largest urban centre, St. John's. Central Newfoundland, where the Project is located, supports a well-established resource sector and provides a strong base of skilled labour, contractors, and support services.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

The closest major regional service hub is Grand Falls–Windsor, located roughly four hours by road from the Project and functioning as the primary center for industrial suppliers, accommodations, equipment services, and workforce logistics. Several smaller communities situated between the Project site and Grand Falls–Windsor, including Millertown, Buchans, Buchans Junction, Badger, and Springdale, have long histories of mining and forestry and continue to provide essential labour, services, and contractor support to regional mining operations.

Mining is a mature and well-developed industry in Newfoundland and Labrador. The province hosts multiple ongoing and historic operations (iron ore, copper, zinc, nickel, industrial minerals), enabling a stable local workforce trained in mineral exploration, underground and open-pit mining, heavy equipment operation, trades, maintenance, and environmental management. Central Newfoundland communities host experienced mining contractors, drilling companies, earthworks contractors, fuel distributors, equipment repair shops, and camp services, all of which support the Project's operational needs.

Both the provincial government and local municipalities actively support programs designed to attract, train, diversify, and retain skilled mining personnel. Initiatives include partnerships with the College of the North Atlantic, workforce development agencies, and industry associations, ensuring a continuous supply of skilled tradespeople and technical workers for new and expanding mining projects.

Overall, the Project benefits from ready access to regional infrastructure, established mining communities, and a workforce with decades of industry experience, providing a solid foundation for operations and future growth at the Valentine Gold Mine.

5.4 Infrastructure

5.4.1 Site Infrastructure

5.4.1.1 Accommodation and Camp Facilities

The VGM now operates out of a 420-person permanent camp with additional construction camps totaling 742. The Phase 2 expansion project will require an additional 400 to 450 construction camp units.

5.4.1.2 Access Roads

The site is accessed via an 80 km upgraded gravel road from Millertown, designed for heavy-haul and construction traffic.

Internal gated access roads connect the camp to exploration sites, drilling areas, and construction zones.

Road upgrades include ditching, culvert installation, crushed rock surfacing, and the replacement of key structures, such as the Victoria River Bridge. Ongoing upgrades to the access road are planned by Equinox.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

5.4.1.3 Power Supply and Utilities

Newfoundland and Labrador Hydro (NL Hydro) has designated its Star Lake hydroelectric facility, located approximately 20 km north of the Project, as the incoming grid power source.

Adequate raw-water supply is available for ongoing mining operations, subject to regulatory permitting.

5.4.1.4 Mine-Site Infrastructure

Major site installations include the processing plant, tailings management facility (TMF), waste rock storage areas, stockpiles, water management systems, workshops, and administrative buildings.

5.4.2 Powerline Infrastructure

The transmission line serving Valentine is designated TL271. TL271 is approximately 40 km long, extending from NL Hydro's Star Lake Terminal Station to the mine site. It is a 69 kV overhead wood-pole transmission system. The right-of-way (RoW) for the line is approximately 15 m to 25 m wide. The mine's current estimated peak power demand is approximately 19 MW. Grid power delivery commenced in late 2023 to support early works and operations.

5.4.3 Summary

The Project benefits from well-developed infrastructure supporting exploration, construction, and operational readiness. Camp facilities upgraded access roads, on-site utilities, and the 40 km TL271 grid powerline form the foundation for reliable and efficient operations. These infrastructure elements significantly reduce execution risk and provide a strong logistical framework for ongoing mining activities.

5.5 Physiography

Valentine is located within gently to moderately rolling upland terrain characteristic of central Newfoundland. The landscape is defined by a series of low hills and subdued ridgelines, with the Project situated at the southern end of Valentine Lake. The property contains numerous small ponds and wetlands typical of the region's glacially influenced physiography.

A prominent northeast-trending ridge extends across much of the property and forms a key topographic feature, locally dissected by shallow, ephemeral drainages. Elevations range from approximately 320 metres above sea level (masl) at Victoria Lake to about 480 masl along the higher ridgeline. The central plateau and the northwest portions of the ridge contain extensive areas of boggy and poorly drained ground, while other ridge segments support mixed spruce–fir forest interspersed with grassy clearings and glacial till surfaces.

Bedrock exposure is generally limited outside of natural erosional features, with most outcrops occurring along streambeds, stream banks, and intermittently along the ridge crest. Overburden thickness is typically shallow on ridge tops, enabling frequent exposure of bedrock in historical and recent exploration trenches. These conditions provide favourable access for geological mapping, trenching, and localized drilling across the property.

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| 5-3 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

6.0 History

6.1 Prior Ownership

The Valentine Gold Mine was first recognized as a potential gold prospect by Abitibi Price Inc. (Abitibi) in 1983 before it was acquired by BP Canada Inc. (BP) in 1985. Noranda Inc. (Noranda) acquired the property from BP in 1992, prior to entering into a joint venture agreement with Mountain Lake Resources Inc. (Mountain Lake Resources) in 1998.

In 2002, Mountain Lake Resources earned a 50% interest in the property and retained an option to acquire a 100% interest by expending $2.5 million on exploration within five years, and either paying $1 million or issuing one million shares to Noranda. Noranda retained a 2% NSR royalty on base metal production and a 3% NSR royalty on precious metal production. A 7.5% NPI royalty was retained by Reid Newfoundland Company Inc. on Reid Lots 227 and 229.

In November 2003, Richmont Mines Inc. (Richmont) entered into an option agreement with Mountain Lake Resources, whereby Richmont had the option to acquire a 70% interest in the property by expending $2.5 million in exploration by October 31, 2007. Richmont relinquished its role as operator in October 2007 to Mountain Lake Resources. In March 2008, Mountain Lake Resources acquired the remaining interest in the property from Noranda.

In February 2009, an agreement was reached between Richmont and Mountain Lake Resources in which Mountain Lake Resources had the option to acquire a 100% interest in the property. Subsequently, in December 2009, Mountain Lake Resources entered into an option and joint venture agreement with Marathon PGM Corporation (MAR), under which MAR was granted the option to earn a 50% interest in the property. MAR became the operator in 2010.

In November 2010, MAR was acquired by Stillwater Mining Company. The gold properties held by MAR, including the subject property, were amalgamated into a new company, Marathon Gold Corporation (Marathon Gold), which commenced trading in December 2010. In January 2011, Marathon Gold funded Mountain Lake Resources' commitments to Richmont under the February 2009 agreement. Marathon Gold later acquired a 100% interest in the property upon acquiring all outstanding shares in Mountain Lake Resources in July 2012.

In early 2024, Calibre Mining Corp. (Calibre) completed its acquisition of Marathon Gold, thereby assuming 100% ownership of the advanced-stage Valentine Gold Project in Newfoundland and Labrador. On June 17, 2025, Equinox acquired Calibre through a business combination, bringing Valentine into the Equinox portfolio alongside its broader Americas-focused operations. These sequential transactions consolidated ownership of the Project under a larger, multi-asset gold producer, providing enhanced financial capacity and operational depth to support construction, commissioning, and long-term development of the Project.

The ownership history of the Project is summarized in Table 6-1.

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| 6-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 6-1: Summary of Ownership History

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|:---|:---|
| **Date** | **Operator** |
| 1960s | ASARCO Inc. |
| 1970s to 1983 | Hudson's Bay Oil and Gas Company |
| 1983-1985 | Abitibi Price Inc. |
| 1985-1992 | BP Canada Inc. |
| 1992-1998 | Noranda Inc. |
| 1998-2003 | Mountain Lake Resources Inc. |
| 2003-2007 | Richmont Mines Inc. |
| 2007-2009 | Mountain Lake Resources Inc. |
| 2009-2010 | Marathon PGM Corporation (MAR) |
| 2010-2024 | Marathon Gold Corporation |
| 2024-2025 | Calibre Mining Corp. |
| 2025-Present | Equinox Gold Corp. |

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6.2 Exploration and Development History

The property has historically been explored by several companies since the 1960s. The region was originally explored for base metals exploration by ASARCO Inc. and Hudson's Bay Oil and Gas Company; this exploration was consistent with historically significant base metal discoveries in the Dunnage Zone (e.g., Buchan's and Duck Pond-Boundary Cu-Zn±Au past-producing deposits).

Between 1960 and 2010, the various historical operators completed a variety of soil sampling, surface stripping and channel sampling, ground and airborne geophysical surveys, and geological mapping (Murahwi 2017), which are summarized in Sections 6.2.1 to 6.2.5. In addition, the NL Department of Natural Resources, Mines and Energy Branches conducted 1:50,000-scale geological mapping from 1970 to 1983.

Drilling for gold mineralization was first conducted in the late 1980s by BP (see Table 6-2). This ultimately led to Richmont's initial Mineral Resource Estimate for the Leprechaun deposit in 2004 (Murahwi 2017).

#### Table 6-2: Summary of Historical Drill Holes Completed by Other Companies

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| | | | |
|:---|:---|:---|:---|
| **Operator** | **Date** | **No. of Drill Collars** | **Metres** |
| BP Canada Inc. | 1986-1991 | 47 | 5974 |
| Mountain Lake | 1998-1999 | 29 | 3861 |
| Mountain Lake | 2002 | 9 | 1041 |
| Richmont | 2003-2004 | 24 | 6965 |
| Richmont | 2005 | 8 | 1746 |
| Richmont | 2007 | 8 | 2280 |
| Mountain Lake | 2009 | 11 | 1908 |
| **Totals** |  | **136** | **23775** |

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| 6-2 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Since 2010, extensive exploration programs have been conducted across the Valentine property, including diamond drilling, trenching, channel sampling, mapping, prospecting, and aerial and ground-based geophysical surveys (including magnetics, VLF, induced polarization [IP], and seismic). These programs have been approached with the primary goal of discovering and increasing the gold resources at the Valentine Gold Project.

Mineral Resources have been estimated for five gold deposits: Leprechaun, Sprite, Berry, Marathon, and Victory. Other prospects have been identified at Frank, Rainbow, Steve, Scott, Triangle, Narrows, Victory SW, and Victory NE mineral occurrences (Figure 6-7). The Frank Zone is the current focus of advanced exploration programs and exhibits mineralization of a style and scale like that of the Leprechaun deposit. While no resource estimate has been completed at Frank, results are encouraging, and the Site offers a potential opportunity to extend the mine life. Gold mineralization has also been discovered in the Minotaur, South Quinn, and Victoria Bridge showings, as further discussed in Section 6.2.6.3. The Marathon, Berry, and Leprechaun deposits are currently being mined and milled.

Since the 2022 technical report on the Project (Marathon Gold 2022), minimal exploration has been conducted on the three active pits. The focus has remained on expanding the understanding of the overall property and discovering new deposits. The most successful exploration target to date has been the Frank Zone, which spans over 1.5 km and is located immediately southwest of the Leprechaun Pit. Other drilling proximal to the three operating pits has also returned encouraging visual results, with high-potential zones such as Triangle, Marathon South, Sprite, and Victory all being priority targets for further exploration and assessment.

In addition to recent drilling programs, property-wide aerial magnetics, aerial VLF, and till sampling were all completed during the 2024 exploration program. These surveys have been instrumental in defining additional targets for further exploration in areas offset from the VLSZ. The Minotaur and South Quinn showings, along with numerous unnamed prospective areas, have been highlighted as high-priority targets for future exploration programs. Minotaur and South Quinn represent the first instances of mineralization discovered on the Valentine property that are not directly associated with the VLSZ, demonstrating the district-scale potential of the property.

Results from Minotaur are still pending release, but early mapping and prospecting of the area on the far northwest of the Valentine property indicate a mix of felsic and mafic volcanics, mudstones, gabbros, and various other lithologies with significant deformation and quartz-sulphide veining across an approximately 2 km strike length.

A summary of ground exploration work completed by Marathon Gold and its successor, Calibre, since 2010 is described in Section 6.2.6. This information is summarized from Murahwi (2017), Dunsworth et al. (2017), Capps and Dunsworth (2019), Staples et al. (2021), and additional programs completed between 2020 and June 2025. The collective ground exploration work completed by Marathon Gold has formed the basis for understanding the geology at the property, and these data were considered during the construction of the 3D geological model and Mineral Resource estimations presented in this report; however, none of the groundwork assay data was used in the actual estimation processes. Rather, the assay file used in this report and the Mineral Resource estimations are restricted to the drill core analytical dataset; all drilling information is summarized in Section 10.0. The metallurgical test work is described in Section 13.0.

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| 6-3 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

6.2.1 ASARCO Inc. and Hudson's Bay Oil and Gas (1960 to 1983)

Between 1960 and 1983, ASARCO and Hudson's Bay targeted base metal mineralization at the Valentine Gold Mine. Reconnaissance geological mapping and soil and stream sediment sampling completed by ASARCO resulted in the identification of a 1 m wide quartz-pyrite-chalcopyrite vein, which was tested with four short diamond drill holes (lengths not known), a 1 km<sup>2</sup> soil sampling, and a very low frequency electromagnetic (VLF-EM) survey. ASARCO determined that the vein pinched out 30 m below the surface. The vein is in the brook draining from Frozen Ear Pond, although exact coordinates are unknown. In 1966, an airborne EM magnetic survey was flown by Canadian Aero Mineral Surveys Ltd., but the results were not publicly reported.

Hudson's Bay commissioned an Aerodat airborne EM magnetic survey in 1980; however, the area that was surveyed and the survey results are not known. Follow-up work did not produce significant results.

6.2.2 Abitibi Price Inc. (1983 to 1985)

Abitibi completed a 400 m x 25 m spaced soil sampling survey targeting gold mineralization over the Valentine Lake Intrusion, southeast of Valentine Lake. The survey identified gold anomalies; however, Abitibi did not follow up on them. The results and locations of the Abitibi surveys are unknown.

6.2.3 BP Canada Inc. (1985 to 1992)

BP advanced the gold-in-soil anomalies identified by Abitibi through grab rock sampling and geological mapping over a 20 km strike length. A 13 km-long zone was prioritized and subjected to line cutting at 100 m spacing to allow further geological mapping, soil sampling, and VLF-EM and magnetic geophysical surveys.

BP identified gold prospects at the Leprechaun and Victory deposits (Victory was formerly known as Valentine East). A diamond drill hole program that drilled 47 drill holes totalling 5,974 m was completed at Leprechaun. Significant intercepts from this program included 23.1 m at 4.6 g/t gold and 9.6 m at 0.1 g/t gold (estimated true widths). Overall, the drilling identified gold mineralization over a strike length of 3 km. A small-scale induced polarization survey was conducted by BP at Leprechaun; however, the results and survey locations are unknown.

6.2.4 Noranda Inc. (1992 to 1998)

Noranda's exploration programs between 1992 and 1998 included a soil and till sampling program over the Quinn Lake area; line cutting, geological mapping, an airborne EM survey and resampling of historical drill core in the Long Lake area, as well as compilation of historical grab sampling and drill core data. The soil and till sampling programs defined a large area of gold and base metal anomalies proximal to Quinn Lake.

6.2.5 Mountain Lake Resources Inc. and Richmont (1998 to 2007)

Mountain Lake Resources and Richmont conducted several drill programs between 1998 and 2007, totalling 78 diamond drill holes for 15,676.5 m. The drilling was focused on the Leprechaun and Victory zones, as well as exploratory holes elsewhere along the 32 km long mineralized trend, including the Sprite prospect and along-strike extensions of the Leprechaun and Valentine Lake prospects. In December 2004, the drilling results were used to prepare an initial mineral resource estimate for Leprechaun.

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| 6-4 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Mountain Lake Resources conducted a helicopter-borne magnetic, radiometric, and VLF-EM survey over the entire project area in 2007. Interpretation of the magnetic data (Figure 6-1) has identified the large-scale structural features of the property, including the regional-scale Valentine Lake Shear Zone and late northwest-striking normal faults.

#### Figure 6-1: First Vertical Derivative Aeromagnetic Data for the Valentine Gold Mine Property
Source: SRK 2014.

6.2.6 2010 to June 2025

6.2.6.1 Exploration Drilling

Since 2010, Marathon and Calibre executed approximately 543,196 m of diamond drilling as part of their exploration programs.

In 2012, drilling activities continued within the Leprechaun Deposit, working to build out the previously defined Mineral Resource. Concurrent prospecting and trenching identified additional gold mineralization southwest of Leprechaun, subsequently designated as the Frank Zone, where 55 drill holes totaling 8,198.8 m were completed during the same year. The initial drilling program at Leprechaun was successful in defining additional mineralization along strike and to depths of over 300 m. This drill program at Leprechaun also served to build confidence in the interpreted vein model of shallow, southwest-dipping extensional veins that host the bulk (+95%) of the gold in the deposit.

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| 6-5 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Further prospecting and trenching delineated additional mineralized trends northeast of Leprechaun, leading to the identification of the Sprite and Victory areas. Between 2011 and 2014, drilling campaigns in these zones comprised 76 holes totaling 10,023.2 m at Sprite and 36 holes totaling 4,459.4 m at Victory. Both Sprite and Victory have established resources but are not currently in the mine plan due to the small-scale nature of the deposits and the distance from Victory to the mill. While smaller-scale programs have been conducted over the past decade to expand mineralization in these areas, further drilling is required to fully define their potential and assess whether they can be added to the mine plan in the future.

The Marathon Deposit was initially discovered through surface prospecting and trenching, with the first drill hole collared in late 2014 on the discovery trench. Subsequent step-out drilling in 2014 and 2015 established the deposit's footprint, leading to a large drilling campaign in 2017. Between 2014 and 2019, a total of 482 diamond drill holes totaling 150,970.91 m were completed within the Marathon Deposit. Drilling at Marathon determined that the nature of the deposit differs from that of the Leprechaun or Berry deposits in several ways. First, the main mineralized corridor exists at an approximate angle of 20 degrees to the VLSZ, with the main zone being up to 250 m northwest of the contact on the northeast end of the deposit. Second, whereas Leprechaun and Berry have large mafic dykes constraining the mineralized corridor, drilling at Marathon identified a swarm of smaller (50 cm to 5 m thick) mafic dykes in a repeating sequence, roughly parallel to the VLSZ. This provides repeated competency contrasts between the dyke and granitoid boundaries, along which potential fluid pathways exist. As a result, the mineralized domain at Marathon is the largest and most diffuse of the deposits to date. In addition, drilling in the Marathon deposit was the first example of the utilisation of steep, northwest-oriented drill holes, which proved successful in defining the vertical continuity of the shallow, southwest-dipping extensional veins. With the success of this orientation in Marathon, steep northwest-oriented holes were also drilled in Leprechaun and Berry to test these stacked veins.

The Berry Deposit originated from a 2015 step-out program targeting Sprite extensions, which included seven initial drill holes on the far northwest edge of the deposit. These holes intersected minor mineralization with no follow-up conducted until late 2019. Most of the drilling at Berry occurred during 2020 and 2021, comprising 374 holes totaling 89,961.3 m. Berry was incorporated into the mine plan in 2025 as the most recent addition to the Project's resource base. Drilling at Berry defined mineralization over the longest strike-length of any of the three deposits, with a current pit length of approximately 1.8 km. Drilling at Berry defined a main zone of mineralization proximal to the VLSZ, bounded to the northwest by three large mafic dykes, which were offset from the VLSZ by approximately 20 degrees to the west. Drilling in Berry defined three ore shoots, with breaks in mineralization aligning with the intersections of the mafic dykes with the VLSZ.

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| 6-6 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

In 2023, exploration resumed at the Frank Zone, located southwest of the Leprechaun Deposit. The Frank Zone is characterized by extensive, laterally continuous quartz vein systems exposed at the surface. Historical work at Frank included trenching and diamond drilling conducted between 2011 and 2012, totalling 8,306.8m over 67 holes. Exploration activities were subsequently deprioritized following positive initial drill results at Leprechaun and later by the discovery of the Marathon and Berry Deposits. No resource has been established at the Frank Zone to date, and it is not included in the current mine plan. The 2023 program marked the first comprehensive drilling campaign in the area since 2012. Between 2023 and 2025, Marathon Gold and Calibre Mining completed 167 drill holes totaling 50,770 m at the Frank Zone, with the objective of confirming the potential to develop a mineral resource that could be added to the mine plan in the future. Highlights of the drilling are provided in Table 6-3.

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| 6-7 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 6-3: Summary of Best Gold Assay Highlights of Drilling Completed by Marathon Gold Corp at the Frank Zone

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|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **2011** | **2011** | **2011** | **2012** | **2012** | **2012** | **2024** | **2024** | **2024** |
| **Drill Hole** | **Core Interval (m)** | **Gold Assay (g/t)** | **Drill Hole** | **Core Interval (m)** | **Gold Assay (g/t)** | **Drill Hole** | **Core Interval (m)** | **Gold Assay (g/t)** |
| VL-11-366 | 3 | 5.44 | VL-12-426 | 5 | 1.44 | FZ-24-040 | 88 | 2.26 |
| VL-11-374 | 1 | 2.09 | VL-12-428 | 1 | 19.1 | FZ-24-046 | 106 | 2.12 |
| VL-11-376 | 1 | 13.3 | VL-12-455 | 10 | 3.00 | FZ-24-048 | 192 | 2.43 |
|  |  |  | VL-12-475 | 1 | 1.18 | FZ-24-050 | 63 | 1.00 |
|  |  |  | VL-12-488 | 6 | 4.58 | FZ-24-062 | 53 | 3.08 |
|  |  |  | VL-12-489 | 4 | 2.29 | FZ-24-066 | 40 | 1.94 |
|  |  |  | VL-12-500 | 3 | 10.87 |  |  |  |

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| 6-8 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

6.2.6.2 Geological Mapping (2010 to June 2025)

Detailed and regional geological mapping has routinely been conducted in areas of exposed outcrop and across excavated trenches. Selected rock exposures were channel- and/or grab-sampled for lithogeochemistry, petrography, and thin-section study. Thin sections and lithogeochemical samples were prepared and analyzed at Memorial University of Newfoundland. Results of the detailed mapping, lithogeochemistry, and petrographic studies were used to prepare 1:5000 scale detailed geological maps for each deposit area (Figure 6-2 to Figure 6-5).

Several structural mapping studies have been conducted on the property, with the most reliable being a 2014 investigation conducted by SRK Consulting (Hrabi 2014) and a more recent 2020–2021 literature review, field mapping, televiewer data collection and analysis and lineament and structural analysis conducted by Terrane Geosciences Inc. (Kruse 2020) focusing on the Leprechaun, Berry, and Marathon deposits. The assessment included a review of previous structural literature, lineament analysis, and field-based structural mapping and analysis. These studies confirmed that the Valentine deposits are hosted within the hanging wall of the VLSZ, within the VLIC, are related to sinistral thrusting of the VLIC, and mineralization is dominantly hosted within southwest-dipping, extensional QTP veins. An additional visit by David Rhys in the summer of 2024 further supported this interpretation while suggesting potential for additional structural complexity, which may aid in targeting in the future. At both the property-wide and deposit scales, mineralization appears to be associated with dilation zones caused by flexures in the VLSZ, thereby increasing porosity for fluid deposition. Mapping across the NE-SW-oriented portion of the VLSZ suggests structural characteristics similar to those in the main deposit areas, supporting the prospectivity of the Frank Zone. Terrane (2021) established a revised kinematic model for the property and identified five phases of deformation. A penetrative ductile fabric associated with the initiation of the Valentine Lake Shear Zone and characterized by a strong S<sub>1</sub> foliation and L<sub>1</sub> stretching lineation is observed in both the Rogerson Lake Conglomerate and in the Valentine Lake Intrusive Complex, with a southwest strike and steep dip to the northwest, paralleling the larger structure. Gold mineralization is associated with veining within the VLIC during a D<sub>3</sub> phase of renewed crustal shortening following a period of regional D<sub>2</sub> relaxation. Overprinting fabrics include a late D<sub>4</sub> crenulation fabric and a D<sub>5</sub> brittle fault set (Kruse 2020). These observations are consistent with regional geotectonic and geochronological models being developed by Honsberger et al. (2019) and others within the Dunnage Zone of Central Newfoundland.

The 2020 field-based structural study (Kruse 2020) and a follow-up program of optical televiewer analysis of oriented drill core (Kruse and Bartsch 2021) identified up to three distinct mineralized QTP-Au vein sets at the Leprechaun and Marathon gold deposits and up to four QTP-Au vein sets at the Berry deposit. In both studies, QTP-Au veins developed within brittle extensional fractures dipping at a low angle to the SW (Set 1 veins) were identified as the dominant mineralization style at the property. The Set 1 veins represent the principal structural control on gold mineralization in the mineral resource models for the Leprechaun, Berry and Marathon deposits, consistent with previous interpretation. Recommendations for further refinement of vein set attitudes include additional televiewer measurements and manual modelling of mafic dykes within the deposit-scale geological models to highlight their importance in the localization of gold mineralization.

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| 6-9 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 6-2: Geological Map of the Leprechaun Area
Source: Equinox 2025.

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| 6-10 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 6-3: Geological Map of the Frank Zone
Source: Equinox 2025.

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| 6-11 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 6-4: Geological Map of the Marathon Area
Source: Equinox 2025.

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| 6-12 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 6-5: Geological Map of the Sprite Zone
Source: Equinox 2025.

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| 6-13 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

6.2.6.3 Grab Rock Sampling (2010 to June 2025)

Since 2010, a total of 2,885 rock samples have been collected throughout the property. Grab samples were collected as rock chip samples from outcrop, subcrop, and float, with a target sample size of 0.5 kg to 2 kg. The grab samples were generally selected as representative, but some bias may be introduced, as they could represent a microcosm of a given sample location. Samples were submitted to Eastern Analytical Ltd. (Eastern Analytical) in Springdale, NL, for preparation and analysis by fire assay and inductively coupled plasma (ICP), as further discussed in Section 11.0.

Rock chip sample analytical results have not been used as part of the assay database used in the mineral resource estimations presented in this report. However, grab samples are a useful exploration tool and, in conjunction with geological mapping, have assisted in prioritizing targets for follow-up exploration.

During the 2022 exploration program, a prospecting program was undertaken in the previously unexplored Eastern Arm of the property, which runs from the Victory deposit in the west to the property boundary in the east. This program included the collection of 60 soil and 60 till samples at 1 km line spacing and 200 m sample spacing, as well as a total of 225 grab rock samples (Figure 6-6). These grab samples uncovered quartz-tourmaline (QT) and QTP veining in both outcrop and float, indicating a new high-potential area for further exploration. Granitoid rocks, which appear similar to the Crippleback Granite, were discovered throughout the area, where past regional mapping had indicated mafic volcanics. This granitoid discovery further increases the potential for orogenic gold mineralization as it provides a competency contrast with the Rogerson Lake conglomerate to the south.

In 2023, 2024, and 2025, grab sampling programs concentrated on a range of areas outside of the main VLSZ trend. This included the Minotaur, Western Peninsula, South Quinn, Eastern Arm, and other unnamed prospects. These programs have identified mineralized veining in numerous areas, with significant follow-up required across the property.

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| 6-14 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 6-6: Grab Sample Results from Valentine Sampling Program from 2010 to 2025 by Marathon Gold and Calibre Mining
Source: Equinox 2025.

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| 6-15 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

The Western Peninsula (Figure 6-7) is another area of interest on the property, immediately west of the Frank Zone. Work in the area commenced in 2022 and has been sporadic since, with a soil sampling program collecting 148 samples across the target area, a total of 66 grab samples and 15 till samples collected in 2023 and 2024, and 5 diamond drill holes for a total of 814 m drilled in 2025. Sporadic QT and QTP veining have been discovered in outcrop in numerous locations and grab samples have returned up to 5 g/t Au in float. Drill results to date have not returned any significant intervals, but have encountered the VLSZ, which appears to be significantly shallower at the Western Peninsula than in other areas of the project. This may allow for differing geometries of mineralization. Additional follow-up will be planned for future exploration programs. Lithologies appear consistent with the regionally mapped units, with granitoids to the north and conglomerate to the south of the mapped contact.

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| 6-16 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 6-7: Location of Prospect Areas and Other Deposits
Source: Equinox 2026.

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| 6-17 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

6.2.6.4 Till Indicator Mineralogy (2022 to June 2025)

Till sampling programs were conducted between 2022 and 2024. In 2022, a preliminary survey was completed over the Rogerson Lake Conglomerate and VLIC contact with 62 samples at a 1 km line and 200 m sample spacing. Follow-up in 2023 consisted of infilling and expansion of the 2022 grid, during which an additional 22 samples were collected, as well as 9 samples collected over the Marathon and Leprechaun deposits to provide baseline data associated with known mineralization. A larger property-wide program was conducted in 2024, with a total of 801 samples collected at 1 km line spacing and 250 m sample spacing.

Till samples were collected from manually dug pits ranging in depth from 10 to 120 cm. Once the till horizon was reached, material was shoveled and sieved through a -4-mesh screen, yielding a total of 11 kg of sieved material. and additional 1 kg of screened rocks was then placed into the sample bag, for a total sample weight of 12 kg. Samples were processed and analysed by Overburden Drilling Management (ODM), where they were dried and mechanically separated, and gold grains were manually collected, optically counted, and assessed. Results from ODM are normalized and corrected to a standard 11 kg sample size to better reflect the gold grain count.

Results from the baseline survey of the Leprechaun and Marathon deposits showed that locally anomalous values associated with significant gold mineralization yielded 100 to 150 grains of Au. Comparable results and patterns are observable in the data collected during the 2024 program, with up to 711 grains of Au over areas of known mineralization and 313 grains of Au in areas where little or no mineralization has been discovered to date. (Figure 6-8).

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 6-8: Till Samples Collected Over Valentine Property, Total Au Grain Count, collected by Marathon Gold Corp.
Source: Equinox 2025.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

6.2.6.5 Channel Rock Sampling (2010 to June 2025)

Across the property, a total of 5,984 channel rock samples were collected. The locations of the channel samples are shown on Figure 6-2 to Figure 6-5 above. Channel sample sites were typically stripped of vegetation and/or glacial surficial material using a backhoe and washed with water to clear debris and leave a clean surface. The channel location was then marked by the geologist and was typically oriented perpendicular to the strike of the mineralization. The channel was mechanically cut with a portable saw fitted with a diamond blade, creating a channel approximately 5 cm wide and 10 cm deep. Channel samples collected in 2024 were cut with a double-bladed Husqvarna rock saw, allowing only a single cut per channel.

The channel rock samples were taken at continuous intervals of between 1 and 2 m in length using a hammer and chisel. Samples were placed into plastic bags, tied, and labelled prior to dispatch for sample preparation and gold fire assay. The channel sample was logged like a drill hole, using the 'from' and 'to' meterage, with lithological and geological descriptions recorded in an Excel datasheet prior to 2019, then in the MX Deposit or the industry-standard relational database, acQuire.

The analytical results of the channel sampling have been used by Equinox and its predecessors to define drill targets and are considered representative of the mineralization with no evidence of bias. For example, the 2010 channel rock sampling results from Leprechaun and Sprite channel sampling were used to define drill targets in 2010 to 2011 (Figure 6-6). Channel sampling was also used to successfully identify significant mineralization at the Marathon deposit. Results from channel sampling, including 16.5 m at 5.79 g/t Au, 16.5 m at 2.53 g/t Au, and 9.0 m at 4.84 g/t Au, were used to define the initial drill targets that led to the discovery of the Marathon deposit.

A trenching program in Eastern Arm in 2023 excavated a total of 14 trenches proximal to the contact between the VLIC and the Rogerson Lake Conglomerate. These trenches identified additional veining; however, the 44-channel samples collected during the program did not return significant gold values.

The South Quinn prospect, immediately south of the Eastern Arm, was originally identified in 2017. Follow-up prospecting and trench mapping were completed in 2023. While grab sampling during the 2022 and 2023 programs did not return significant gold values, a review of historical work conducted by Noranda from 1988 to 1991 highlighted channel sample results up to 11.7 g/t Au over 0.6 m from quartz veins and grab samples up to 30.8 g/t Au.

The channel rock sample data were not incorporated into the assay dataset used to prepare the Mineral Resource estimations presented in this Technical Report.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 6-9: Example of Channel Sample Results from Frank Zone, collected by Marathon Gold Corp.
Source: Equinox 2025.

6.2.6.6 Geophysical Surveys

Equinox's predecessors conducted IP surveys at Leprechaun and Victory deposits, ground magnetic surveys along the length of the main mineralized trend, and a seismic survey at the Marathon deposit. In addition, a drone aerial magnetics survey was conducted along the main portion of the VLSZ, from the Frank Zone in the southwest to the Victory Deposit in the northeast. Further to this, a helicopter-supported aerial magnetics and VLF survey was conducted across the entire Valentine property in 2024. While Equinox has data from numerous geophysical surveys conducted by previous owners of the property, the 2024 survey is the most comprehensive and highest-resolution survey on the Project to date and has highlighted numerous areas of structural complexity that may host additional mineralization. As such, the 2024 survey results are the main focus of discussion below. IP surveys are not discussed here, as they proved to be of limited value to the Project's development.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Aerial Magnetic Survey
In 2007, Richmont Mines conducted a detailed, 1,766 line-kilometre, aeromagnetic and VLF survey, with line spacing of 100 m and tie-in lines at 1,000 m, across the entire project area (Figure 6-12). The results show that the property has a complex structural geological history, particularly at the Leprechaun, Marathon, Sprite, Victory, and Berry deposits. Distinct magnetic splays off the regional structural fabric at the Leprechaun and Sprite deposits are evident (Hrabi 2014) and represent high-potential exploration targets. Further, the detailed aeromagnetic data collected by Richmont indicate a potential zonation of the VLIC, with multiple intrusive phases inferred from the magnetic response (Hrabi 2014).

During the summer of 2021, Marathon Gold contracted RPM Aerial Services (RPM) to complete a 32 km<sup>2</sup>, drone-mounted aeromagnetic survey of the project area (Figure 6-11). The survey was completed at 25 m line spacings with 1,449 line-km flown at an altitude of 23 m. This survey produced the highest-resolution magnetic data of the area flown to date, thanks to the close line spacing, drone capabilities allowing lower elevations, and the use of light detection and ranging (LiDAR) data to map elevations and flight plans. The survey covered the VLSZ from Frank Zone in the southwest to Victory Deposit in the northeast. The survey identified numerous magnetic highs, associated with mineralization-bounding mafic dykes in the Leprechaun and Berry Deposits and large gabbro bodies, as well as the trace of the VLSZ.

To follow up on these results, RPM was again contracted in 2024 to conduct property-wide airborne magnetics, VLF, and LiDAR surveys. The 2024 survey included 3,263 line-km of surveying, flown at an altitude of 40 m, with line spacings of 100 m, tie line spacing of 1,000 m, and line orientations of 140/320 degrees. The lines were planned to be offset from the 2007 survey by 50 m to incorporate both datasets into the interpretation and to provide a higher-resolution product. Once data collection was complete, the 2024 survey data were integrated with the 2007 aeromagnetic and VLF survey, yielding a final product with an effective line spacing of 50 m. These surveys highlighted an abundance of contacts subparallel and oblique to the VLSZ that approximated the mapped lithologies in the region. A number of potential cross-faults within the VLIC were shown in both the VLF and magnetics (Figure 6-10), which are interpreted as potential second-order faults that may serve as a conduit for mineralizing fluids into the VLSZ. These cross faults also abut the northwestern margin of the VLIC, which is hypothesized by Equinox to be a "mirror" of the VLSZ with a similar potential for mineralization.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 6-10: 2024 Airborne Magnetics Survey Showing Interpreted Regional-Scale Cross Faults
Source: Equinox 2026

Notes: a) Total Magnetic Intensity (TMI) Analytical Signal, b) TMI Reduced-To-Pole (RTP) Residual 5000 m, c) TMI RTP Total Horizontal Derivative, d) TMI 1st Vertical Derivative

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 6-11: 2021 Airborne Magnetic Data Over Valentine Gold Mine Project Area
Source: Equinox 2025.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 6-12: Richmond Mines (2007) Total Field Airborne Magnetic Data
Source: Equinox 2025.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Ground Magnetic Surveys
Between 2014 and 2017, Marathon Gold conducted numerous ground magnetic geophysical surveys at the Sprite and Marathon deposits, using two Overhauser Magnetometers supplied by MTEC Geophysics Inc. The surveys were conducted using a 50 m line spacing and comprised 27 line-km at Sprite and 11.9 line-km at the Marathon deposit. The results indicate that mineralization at these deposits is spatially associated with low magnetic intensity, inferred to result from the magnetite destructive sericite quartz alteration associated with the QTP vein arrays. If this hypothesis is true, then the survey results show there are several areas of low magnetic intensity that may represent exploration targets between the Sprite and Marathon deposits (Figure 6-13).

#### Figure 6-13: Ground Magnetic Data over Sprite, Berry, and Marathon Deposits
Source: Equinox 2025.

#### VLF Data
The initial VLF-electromagnetic (VLF-EM) survey of the Valentine property was conducted by Richmont Mines in 2007, in concert with the aeromagnetic survey flown at the same time. This initial survey included 1,766 line-kilometres of aeromagnetic and VLF survey, with line spacing of 100 m and tie-in lines at 1,000 m, across the entire project area at the time. The survey was relatively low-resolution, and while it highlighted several areas of interest, it did not cover the entire current Valentine property.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Following this initial VLF survey, a property-scale aeromagnetic and VLF survey was conducted in 2024, which was flown in concert with the aeromagnetic. The 2024 survey included 3,263 line-km of surveying, flown at an altitude of 40 m, with line spacings of 100 m, tie line spacing of 1,000 m, and line orientations of 140/320 degrees. The lines were planned to be offset from the 2007 survey by 50 m to incorporate both datasets into the interpretation and to provide a higher-resolution product. Once data collection was complete, the 2024 survey data was integrated with the 2007 aeromagnetic and VLF survey, providing an effective 50m line spacing for the final product. The 2024 VLF survey outlined numerous features with signatures similar to those of the VLSZ, suggesting the potential for secondary and/or tertiary shear zones that may host additional mineralization. These features appear in a range of orientations but are dominantly parallel to sub-parallel to the VLSZ, running southwest-northeast. The Minotaur showing on the northwest of the property, as well as South Quinn on the eastern portion of the property, are associated with these shear-zone-like features, further concreting the connection between high VLF signatures and mineralized zones.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 6-14: 2024 Airborne VLF Survey showing: a) In-Phase and b) Quadrature
![](exh992fig6_142.jpg)

Source: Equinox 2025.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Seismic Survey
Between February 25 and March 6, 2017, a seismic survey was carried out by Acoustic Zoom Inc. (AZI) of Paradise, NL, across a southwest-oriented 500 m wide by 2 km long zone at the property. The aim of the survey was to identify geological structures in the area, with an emphasis on quartz vein systems.

A total of 89 receiver lines were cut to approximately 500 m in length at 25 m spacing, with 44 source lines coincident with the receiver lines but at double the spacing. Glacier Exploration Surveys Ltd. of Calgary, Alberta, was subcontracted by AZI to complete the survey under AZI staff supervision. Due to insufficient frost depth, only 74% of the survey grid was covered by the seismic vibrator truck, which was escorted by an excavator across the wetter sections.

Unfortunately, the seismic survey failed to provide any substantial information on geologic structures within the survey area, including the VLSZ. It is believed that the survey failed to detect the VLSZ due to its steep nature. The inability to detect the veins and vein packages is likely due in part to the small-scale nature of the veins but also from the lack of physical property contrast between the quartz veins and quartz-rich granitoid. Consequently, no further emphasis is being placed on seismic methods for current or future exploration.

6.3 Historical Resource Estimates

Between 2012 and 2022, Marathon Gold published a series of mineral resource estimates as delineation drilling progressed along the Valentine Gold Mine. Leprechaun was the first deposit to achieve Mineral Resource status (2012), followed by Victory in 2013, and by both Marathon and Sprite in 2015. These early estimates formed the technical basis for advancing Project development but have since been superseded.

The final historical resource prepared prior to construction was completed by John T. Boyd Company (BOYD), with effective dates of November 20, 2020, for Leprechaun, Sprite, Marathon, and Victory, and April 15, 2021, for the Berry deposit. This estimate, prepared by Robert Farmer, P.Eng., utilized Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards for Mineral Resources and Mineral Reserves (CIM (2014) definitions) and reported global open-pit and underground Mineral Resources based on an open-pit shell, a gold price of US$1,500/oz, and 6 m × 6 m × 6 m block modelling. These estimates were considered reasonable at the time but are treated as historical for the purposes of this Technical Report.

An updated resource estimate was subsequently completed under the supervision of Mr. Roy Eccles, P.Geo. (APEX Geoscience Ltd. [APEX]), with effective dates of June 15, 2022 (Leprechaun, Berry, Marathon) and November 20, 2020 (Sprite, Victory). This APEX estimates incorporated additional drilling, updated geological interpretations, revised metal prices (US$1,800/oz gold), and updated open-pit and underground cut-off grades. These 2022 Mineral Resources were inclusive of Mineral Reserves and represented the final published resource prior to the current estimate.

All three of the above estimates are considered historical and are superseded by the 2025 Mineral Resource estimate presented in Section 14.0 of this report and the 2025 Mineral Reserve estimate presented in Section 15.0 of this Technical Report. The Qualified Person has not completed sufficient work to classify the historical estimates as current and therefore does not treat them as current Mineral Resources and Mineral Reserves in accordance with NI 43-101. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

6.4 Past Production

Construction of the Valentine Gold Mine was completed in 2025, and commercial production was achieved on November 18, 2025. During December 2025, the first full month of commercial production, the process plant milled 197,928 tonnes, at an average head grade of 1.93 g/t, with an average metallurgical recovery of 92.1%. This resulted in 11,328 ounces of gold recovered. Gold poured of 9,944 ounces differed from recovered ounces, reflecting an increase in gold-in-circuit inventory at month-end.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

7.0 Geological Setting and Mineralization

7.1 Regional Geology

The Valentine Gold Mine property is located within the Newfoundland Appalachian system, which displays typical southwest to northeast alignment and was formed during closure of the Iapetus Ocean in the Cambrian to Ordovician periods, resulting in the accretion of Laurentia and Gondwana (Piercey et al. 2014). The island of Newfoundland is divided into four major tectonostratigraphic zones that are juxtaposed by major regional sutures (Figure 7-1). The Humber Zone, located in the west, is comprised of Palaeozoic sedimentary rocks deposited on the Grenvillian basement of the eastern margins of the Laurentian continent. The Gander Zone in the east is comprised of Ordovician volcano-sedimentary sequences that formed proximal to the Gondwanan continental margin (Coleman-Sadd 1980; Blackwood 1982). The Avalon Zone, which lies east of the Dover-Hermitage Bay Fault, comprises Precambrian volcanic and sedimentary rocks (King et al. 1980).

Situated between these two continental margin terranes, the Dunnage Zone comprises a structurally controlled assemblage of ophiolitic and arc-to-back-arc volcanics, and volcaniclastic to epiclastic sedimentary rocks representing remnants of early to middle Palaeozoic oceanic terranes.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 7-1: Major Tectonic Subdivisions of Newfoundland & Location of Valentine Gold Property
Source: Modified from Colman-Sadd, Hayes and Knight (2000) and Piercey et al. (2014).

Widespread magmatism and deformation characterize the Appalachian and pre-Appalachian tectonic evolution of the Newfoundland Orogeny. Formation of large-scale, gold-bearing hydrothermal alteration systems accompanied localized magmatism. This system hosts gold in both the late Proterozoic and Palaeozoic rocks, which are commonly associated with major crustal structures and range between epithermal, orogenic, sediment-hosted, and intrusive-related deposit types (e.g., Evans 1993; Tuach et al. 1988; Wardle 2005).

The Dunnage Zone, host to the Project, is further subdivided into two subzones by the Beothuk Lake Line, which represents the major crustal suture zone in this area of the Appalachian Orogen. The Notre Dame Subzone and the Exploits Subzone occur northwest and southeast of the Beothuk Lake Line, respectively, and are characterized by island arc volcano-sedimentary sequences and ophiolite lenses that formed during the Middle to Late Ordovician accretion of Cambro-Ordovician rocks associated with the Taconic and Penobscot orogenies.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Hence, these subzones preserve a complex and protracted record of orogenic accretion and tectonic assembly. The Dunnage Zone was subsequently deformed during the Silurian Salinic orogeny and intruded by Devonian granitoid plutons, mafic stocks, and dykes.

Gold mineralization within the Dunnage Zone occurred coincident with late syn- to post-Salinic orogenic events (Murahwi 2017) and is typically spatially related to major structural features and proximal to, or hosted within, intrusive bodies. The Dunnage Zone also hosts past-producing Buchans and Duck Pond copper-zinc volcanogenic massive sulphide (VMS) deposits and several other VMS occurrences (Figure 7-2).

#### Figure 7-2: Geology, Major Structures, and Gold Occurrences in the Central Newfoundland Gold Trend
Source: Modified from Honsberger et al. 2019.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

7.2 Local Geology

The Valentine property is located within the Victoria Lake Supergroup (VLSG), which constitutes part of the Exploits Subzone of the Dunnage Zone and is composed mainly of low-grade Cambro-Ordovician (513 to 462 Ma; e.g., Rogers et al. 2007) island arc and back arc volcanic, volcaniclastic, and epiclastic rocks of the Talley Pond volcanic assemblage (513±2 Ma; Dunning et al. 1991) and the Tulks Hill volcanic assemblage (498 +6/-4 Ma; Evans et al., 1990) (see Figure 7-3). These assemblages are volcanically dominant with one or more sequences of clastic sedimentary rocks. Localized younger Middle Ordovician sedimentary rocks are present (Evans and Kean 2002). These assemblages consist of rocks of varied age and geochemical properties representing various tectonic environments intruded by granodioritic to gabbroic intrusions, metamorphosed to lower greenschist facies, and subjected to heterogeneous regional deformation (Evans et al. 1990; Pollack et al. 2002).

#### Figure 7-3: Regional Geology of the Valentine Gold Property
Source: Modified from Honsberger et al. 2019

Large plutonic bodies on the south-southeast margin of the VLSG are significantly older than the volcanic rocks and include the Precambrian Valentine Lake and Crippleback Lake intrusive complexes.

The Victoria Lake Supergroup is divided into a northern and southern terrane, with the southern terrane bounded to the southeast by the Snowshoe Pond Granite and the northern terrane bounded to the northwest by the Middle Ordovician Harbour Round and Sutherlands Pond assemblages (Rogers and van Staal 2002) and is structurally complex.

The Valentine property occurs within the large multiphase, trondhjemite (566 Ma), quartz monzonite (573 Ma), and gabbroic Valentine Lake Intrusive Complex (VLIC) and forms the structural inlier within the Victoria Lake Supergroup volcano-sedimentary rocks (Layne et al, 2022). More specifically, the Valentine deposits occur proximal to the unconformable contact between two structural domains, the Neoproterozoic VLIC to the northwest and the Silurian Rogerson Lake Conglomerate to the southeast. These are in contact along a northeast-southwest lithotectonic boundary of the locally sheared and faulted Valentine Lake Shear Zone (VLSZ), which is documented as exhibiting sinistral reverse transpressive deformation that is correlated with the Salinic (450–423 Ma) Appalachian Orogenic event (van Staal et al. 2009).

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

The VLSZ has a kinematic history with multiple pulses of Appalachian orogenesis and exhibits a northwest to subvertical dip. At the Valentine property, the Precambrian VLIC forms a rigid inlier that correlates with a structural flexure point in which the overall trend of the VLSZ was deflected.

The VLIC predates the surrounding host volcanic and sedimentary rocks, which are similar in age to the Roti Bay Granodiorite at Hope Brook (Woods 2009), and comprises an elongate northeast-trending body of Upper Precambrian igneous rocks ranging from trondhjemitic (A specific type of felsic intrusive igneous rock) through to gabbroic and minor pyroxenitic compositions.

The Silurian Rogerson Lake Conglomerate forms a long, narrow, elongated belt that extends for approximately 160 km and lies along the southeast margin of the VLIC. Unsorted to locally sorted, pebble- to cobble-sized polymictic conglomerate characterizes the unit with layers of finer-grained sedimentary sequences.

Regional metamorphism in the Valentine Gold property area ranges from lower to upper greenschist facies, with the higher grades in the southern portion of the property. Deformation of the VLIC is ductile, transitioning to late-stage brittle deformation. Heterogeneous ductile deformation is characteristic of the Rogerson Lake Conglomerate.

Recent project-scale structural investigations by Kruse (2020) for Equinox, and more regionally by Honsberger et al. (2019) and others, have established a geotectonic chronology for the deformation within the project area, within which Kruse (2020) recognizes five phases of deformation (Figure 7-4).

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 7-4: Regional Geochronology of the Dunnage Zone and Valentine Property
Source: Modified from Kruse (2020) and incorporating Barbour (1990), Barrington et al. (2016), Dunning (2017), Honsberger et al. (2019), Sandeman et al. (2017) and van Staal et al. (2009).

A penetrative ductile fabric associated with initiation of the VLSZ and characterized by a strong S<sub>1</sub> foliation and L<sub>1</sub> stretching lineation is observed in both the Rogerson Lake Conglomerate and in the VLIC, with a southwest strike and steep dip to the northwest, paralleling the larger structure. Gold mineralization is associated with mineralized veining within the VLIC during a D<sub>3</sub> phase of renewed crustal shortening following a period of regional D<sub>2</sub> relaxation. Overprinting fabrics include a late D<sub>4</sub> crenulation fabric and a D<sub>5</sub> brittle fault set (Kruse 2020)

7.3 Property Geology

The bedrock geology at the Valentine property is comprised of six major lithological units, including, from northwest to southeast: i) the northern terrane of the Victoria Lake Supergroup (bimodal volcanic rocks), ii) volcanogenic and siliciclastic sedimentary units, iii) the VLIC, iv) the Rogerson Lake Conglomerate, v) the southern terrane of the Victoria Lake Supergroup, including metasedimentary units and lesser gabbroic and mafic volcanic rocks, and vi) the Red Cross Lake intrusion (Figure 7-5).

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 7-5: Geology and Gold Showings of the Project
Source: Marathon Gold 2017

The VLSG outcropping along the northwest boundary of the Valentine property area consists mainly of low-grade Cambrio-Ordovician volcanic and sequences of clastic sedimentary rocks of the Tulks Hill assemblage. This assemblage represents two packages of bimodal volcanic and clastic sedimentary rocks referred to as the Long Lake volcanic belt and the Tulks sequence of banded to finely laminated siltstone, argillite, and tuffaceous siltstone with minor intercalated mafic tuff. The northwestern section of the Valentine property covers a portion of the Long Lake volcanic belt and is dominantly underlain by felsic and mafic volcanic rocks, which host the Minotaur showing. Further to the southeast, the Long Lake volcanic belt is underlain by a thick sequence of black graphitic shale, which separates the Long Lake volcanic belt from volcaniclastic sedimentary units of the Stanley Waters Formation.

The VLIC hosts all five of the current major gold deposits and numerous early-stage prospects and occurrences on the Valentine Gold property (Figure 7-5). The VLIC is an elongated northeast-southwest trending intrusion consisting dominantly of fine- to medium-grained trondhjemite and quartz monzonite with lesser aphanitic quartz porphyry, gabbro and minor pyroxenite units of the Upper Precambrian (Layne et al, in preparation). All intrusive rocks demonstrate varying degrees of sausseritization (hydrothermal alteration) of plagioclase and strong alteration of mafic minerals to chlorite and epidote. The eastern portion of the VLIC found on the Valentine Gold property consists of coarse-grained granitoids similar to the Crippleback Granite.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Abundant mafic dyke systems on the scale of tens of centimeters to tens of meters thick cut the trondhjemite and quartz monzonite units on a northeast-southwest orientation and exhibit strong ductile deformation and boudinage. These mafic dykes are geochemical equivalent to the gabbroic intrusions found within the VLIC.

The Silurian Rogerson Lake Conglomerate forms a narrow linear unit extending NS-SW for 160 km through central Newfoundland, lies unconformably (overturned) on the southeast margin of the VLIC, and is interpreted to have infilled a foreland basin during thrusting and erosion of the VLIC (Kean 1977; Kean et al. 1982). An unsorted, pebble-to-cobble-sized, polymictic conglomerate with interbedded coarse sandstone dominates the unit. A high percentage of the clasts are trondhjemite, quartz monzonite, and mafic intrusive rocks of the VLIC. Also common are fine-grained foliated mafic, epidote-quartz, white and red chert, and black, fine-grained sedimentary clasts in a fine-grained, schistose matrix.

The conglomerate has undergone penetrative ductile deformation resulting in a strong NE striking and steep northwest dipping to sub-vertical S1 foliation, and most clasts showing strong elongation parallel to the regional penetrative L1 fabric and sinistral rotation.

The VLSG outcropping along the southeast boundary of the Valentine Gold property area consists of Ordovician-aged mixed sedimentary, gabbroic, and mafic volcanic sequence. These units have been strongly deformed, resulting in a complex intercalated, tightly folded, boudinaged, and sheared package of rocks. Sedimentary units are generally metamorphosed and argillaceous to sandy and/or tuffaceous rocks with minor metaconglomerate and represent the bulk of the sequence. The gabbroic units are generally medium-grained, strongly foliated gabbro, which grades into fine-grained schist. The gabbro and schist are interspersed with pillowed and massive basalt units.

The Red Cross Lake intrusion is bimodal, consisting of a mafic phase comprising well-layered peridotite and gabbro, and a medium- to coarse-grained granite phase.

The entire project area is overlain by glacial till surficial deposits with thicknesses of between 1 and 30 m, as well as deeper boggy areas and ponds, with only rare bedrock exposures along topographic highs, along lake shores, and in stream beds.

7.3.1 Structure

The Project is one of several structurally hosted gold deposits within the central Newfoundland Dunnage Zone that are associated with the Salinic Appalachian orogenic event. At the Valentine property, mineralization is associated with deformation across the VLSZ. This large-scale crustal structure is one of several, such as the Cape Ray Fault, the Dog Bay Line, and the Beothuk Lake Line, that are currently the target of broad exploration programs by several gold exploration companies across a large swath of central Newfoundland.

On a property scale, the Valentine gold deposits occur proximal to the VLSZ and the unconformable contact between two structural domains, the Neoproterozoic VLIC, and the Silurian Rogerson Lake Conglomerate. The VLIC is generally characterized by lower strain, brittle-ductile deformation, with the Rogerson Lake Conglomerate exhibiting more intense penetrative foliation, folding, and shearing. The contrast in competency between these two domains and the crustal-scale nature of the VLSZ provide an ideal environment for hydrothermal fluid flow and the development of gold mineralization within local deformational traps.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

On behalf of Marathon Gold, Kruse (2020) developed a kinematic model and deformational history for the property that identified five phases of deformation (Figure 7-6). In this model, the Silurian Rogerson Lake Conglomerate is interpreted to have formed in a sedimentary basin bounded to the NW by a listric boundary fault. Onset of Salinic-aged crustal shortening reactivates the main boundary fault as a low-angle reverse thrust, which is rotated into a steep orientation during a transition to a pure shear-dominated flattening phase. This phase of crustal shortening is correlated with the S1 fabrics that dominate the property. The Rogerson Lake Conglomerate exhibits strongly developed S1 penetrative foliation, tight F1 isoclinal folds, and locally preserved S0 bedding (Kruse 2020). Flattened and stretched primary conglomerate clasts are indicative of a pure-shear regime. Within the intrusive rocks of the VLIC, S1 is manifested as a spaced fracture cleavage with localized zones of more intense shearing developing foliation in the S1 orientation.

#### Figure 7-6: Phases of Deformation shown by Northwest-Southeast Oriented Section
Notes: This schematic illustrates the kinematic evolution of the VLSZ along the boundary of the VLIS (pink) and Rogerson Lake Conglomerate LC (grey). The red lines represent the trace of bedding (S0), and the black lines represent the S1 foliation.

Source: Kruse 2020.

A period of relaxation during shortening and lithospheric extension (D2) is evidenced by the suite of mafic dykes intruding into the VLIC and locally within the Rogerson Lake Conglomerate. This extensional event is further evidenced by the late Silurian magmatism of the gold-mineralized Windsor Point Group in the Cape Ray deposit area, and the contemporaneous Mount Peyton Intrusive suite (dated at 424-418 Ma; Sandeman et al. 2017). Accordingly, the D2 extensional event occurred before the Acadian Orogeny. At the Valentine property, two sets of mafic dykes are associated with this event: a WSW-SW striking main set parallel to the main S1 foliation and the VLSZ and dipping to the northwest. A second, subordinate set, oriented at a high angle to the first set in a "ladder rung" pattern, have shorter strike extent and are strongly folded. Larger (greater than 1m) dykes are commonly sheared at their contacts and undeformed internally. The dykes are rheologically weaker than the host granitoid rocks of the VLIC. These sheared mafic dyke contacts provide a fluid pathway for mineralized fluids, which travel up along the contacts before exploiting more open fractures in the granitoid. The pressure reduction as fluids enter these fractures enables vein formation and gold deposition.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Mineralization of quartz-tourmaline-pyrite-Au (QTP-Au) veins is associated with a renewed D3 shortening phase correlated with the late Acadian Orogeny. Geochronological studies suggest two mineralization emplacement events, with an earlier pulse at 410 Ma (Dunning 2017) and a later pulse at 384-378 Ma (Layne et al. 2022, Sandeman et al. 2022). These dates align with regional data suggesting two significant gold-mineralizing events across central Newfoundland: one in the late Silurian-early Devonian (approximately 420–410 Ma) and a later event in the middle-late Devonian (approximately 380–370 Ma) (Honsberger et al. 2022). Up to three separate QTP-Au vein sets – defined as a distinct zone of QTP-Au veining and mineralization – are recognized at the Marathon and Leprechaun deposit areas. Up to four separate QTP-Au vein sets occur at the Berry deposit. Previous descriptions of these QTP-Au vein sets (Robert and Poulsen. 2001) have described the first two as "extensional" and "shear" respectively, based on the orientation of the veins with respect to the S<sub>1</sub> foliation and in the parlance of the classic shear zone-hosted gold deposit model. All vein sets are observable in outcrop and drill core within the granitoid rocks of the VLIC, but the Set 1 extensional veins, dipping at a low angle to the SW, are the dominant set associated with the bulk of gold mineralization. These vein sets are described further in Section 7.3.2.

Finally, additional brittle-ductile-to-fully brittle fabrics and structures (D<sub>4</sub> and D<sub>5</sub>) occurred post-mineralization and are associated with late Acadian to Neo-Acadian deformation. The first is a broad crenulation fabric, and the latter is a brittle fault set. Neither of these later deformational events impacts the deposit-scale development of gold mineralization, other than the potential for D<sub>5</sub> structures to locally create fault offsets in areas of D3 vein development.

7.3.2 Mineralization

Gold mineralization at the Valentine Gold property is developed within QTP-Au vein sets associated with D<sub>3</sub> extensional and shear deformation within granitoid rocks of the VLIC in contact with the Rogerson Lake conglomerate across the northeast-southwest-oriented VLSZ (Kruse 2020).

The QTP-Au veins are identified in prospecting samples, outcrop, trenching, and drilling at numerous locations along the 32 km strike extent of the VLIC and VLSZ within the Valentine Gold property. Significant QTP-Au veining occurs dominantly within the trondhjemite, quartz monzonite, and to a lesser degree, mafic dyke units along and proximal to the sheared contact with the Rogerson Lake Conglomerate. Minor amounts of gold-bearing QTP veining extend across the VLSZ contact and into the Rogerson Lake Conglomerate. Gold-bearing QTP veining is also exposed in the VLIC at 500 m and 1000 m from the VLIC-conglomerate contact at the Steve Zone and Scott Zones, respectively. All the gold occurrences share similar general mineralogical characteristics, with coarse gold mineralization occurring predominantly within quartz-tourmaline-pyrite veins and, to a lesser degree, in alteration selvages. Visible gold is common.

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| 7-10 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Individual QTP-Au veins range in thickness from a few millimetres and centimetres to metres, but are typically 2 cm to 30 cm thick. QTP-Au veins developed within brittle extensional fractures and as sigmoidal vein arrays, both dipping at a low angle to the SW (Set 1 veins), represent the dominant structural control on mineralization at the property and within the mineral resource models for each of the Marathon, Leprechaun, Sprite, Victory, and Berry deposits.

The gold mineralization at the Valentine Gold property occurs as structurally controlled, orogenic gold deposits consisting dominantly of en echelon stacked southwest-dipping extensional QTP-Au vein sets (Set 1) and lesser shear-parallel QTP-Au vein sets (Set 2) proximal to the VLSZ. Extensional QTP-Au veins often occur in sigmoidal vein arrays, which appear as horsetails terminating from the ends of shear parallel veins. The relationship between the S<sub>1</sub> and S<sub>2</sub> veins has been observed in outcrop and in pit walls (Figure 7-7, Figure 7-8). This style of mineralization occurs intermittently along the defined strike length of the main gold zone, in which a series of deposits and occurrences have been, and continue to be, discovered. Discoveries to date include the Marathon, Leprechaun, Sprite, Victory, and Berry gold deposits, and the Frank, Rainbow, Steve, Scott, Triangle, Victoria Bridge, Narrows, Victory SW, and Victory NE occurrences.

#### Figure 7-7: Outcrop at Frank Zone showing Relationship between SW-dipping S<sub>1</sub> Veins and NW-dipping S<sub>2</sub> Veins

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| 7-11 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 7-8: Illustrated Figure of Outcrop at Frank Zone showing Relationship between SW-dipping S<sub>1</sub> Veins and NW-dipping S<sub>2</sub> Veins
At the deposit scale, a pervasively altered, intensely QTP veined core complex, which is referred to as the "Main Zone", has been delineated at the Marathon, Leprechaun, and Berry deposits. Up to three vein sets have been defined via televiewer surveying and analysis at the Leprechaun and Marathon gold deposits, and up to four vein sets at the Berry deposit.

A schematic model of the QTP-Au vein sets and their geometrical relationship with mafic dykes is presented in Figure 7-9 and include the following:

&nbsp;&nbsp;&nbsp;&nbsp;· Set 1 QTP-Au veins occur as uniformly shallow southwest-dipping, en-echelon arrays orientated at high angle to the regional penetrative S1 foliation and roughly perpendicular to the NE-dipping L1 stretching lineation.

&nbsp;&nbsp;&nbsp;&nbsp;· Lesser Set 2 QTP-Au veins are steeply northwest-dipping to subvertical, parallel to the regional S1 shear fabric, and commonly developed at contacts with mafic dykes or at localized zones of increased deformation.

&nbsp;&nbsp;&nbsp;&nbsp;· Rare Set 3 QTP-Au veins are steeply dipping with a NW-SE orientation orthogonal to the strike of the S1 foliation (Kruse 2020).

&nbsp;&nbsp;&nbsp;&nbsp;· At the Berry deposit, a fourth vein set has been identified with a very low angle dip to the NNE (Kruse and Bartsch 2021).

&nbsp;&nbsp;&nbsp;&nbsp;· Each vein set is mineralized, with a strong dominance in frequency of occurrence and gold content exhibited by Set 1.

The Set 1 extensional and Set 2 shear-parallel QTP-Au veins are up to 3 m thick and have been traced in trenched outcrop exposures for over 280 m of continuous strike length; however, the observed strike length of individual veins is typically in the range of tens of metres to tens of centimetres (Figure 7-10).

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

The visible gold in QTP veining occurs as grains, ranging in size from less than 0.1 mm to greater than 1-2 mm, hosted by quartz, tourmaline masses, within and along the margins of pyrite, within altered host rock, or within or associated with tellurides including calaverite, tellurobismuthite, petzite, and altaite. Highest gold grades are commonly associated with large (1 cm to 3 cm), euhedral, and occasionally subhedral pyrite in QTP veining. On weathered surfaces, the gold is observed in limonite patches derived from the weathering of pyrite (Barbour 1999). Other sporadically observed sulphides, in decreasing order of abundance, include chalcopyrite, pyrrhotite, sphalerite, and galena. These minerals form minor components to the overall mineralization.

In addition to the QTP-Au style of mineralization, mineralization has been discovered in several formations outside the VLIC. These new styles of mineralization include the South Quinn and Minotaur showings. These areas are new discoveries with minimal data collected to date, but initial indications suggest a similar fluid emplacement mechanism as found in the VLIC. In South Quinn, mineralization is characterized by quartz veins containing coarse-grained sulphides, in descending order of abundance: arsenopyrite, pyrite, chalcopyrite, sphalerite, and galena. The veins are larger, on the order of 30 cm to 90 cm or more, and generally appear to parallel the local foliation, which dips to the north.

In the Minotaur showing, mineralization appears to comprise quartz-carbonate veining on the order of 5 cm to 90 cm thick, with disseminated to locally coarse-grained sulphides including pyrite, chalcopyrite, galena, and local arsenopyrite. These veins are hosted within gabbros of the VLSG, which have been intensely altered by the mineralized hydrothermal fluids. The gabbros that host mineralization are generally moderately magnetic, with an increase in magnetism proximal to the mineralized zones, followed by a dramatic drop in magnetism within the alteration halos and veins themselves. This drop in magnetism is likely due to magnetite destruction as the Fe is altered to pyrite. Veins appear to be divided into two populations, with the most abundant vein set dipping moderately to the northeast and a secondary set dipping moderately to the northwest. Assays result from both grab sampling and drilling in the Minotaur area are pending release, and no indication of economic prospectivity has been suggested.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 7-9: Schematic Illustration of the Geometrical Relationship between Mafic Dykes and Veins
Source: Kruse 2020.

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| 7-14 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 7-10: Examples of Mineralization in Outcrop

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| &nbsp;&nbsp;A) Sheeted, Shallow Southwest-Dipping Quartz Tourmaline Pyrite Vein Array (Set 1), Marathon Deposit | &nbsp;&nbsp;B) Gold-Bearing Quartz-Tourmaline-Pyrite |
| &nbsp;&nbsp;![](exh992fig7_10a.jpg)<br>| &nbsp;&nbsp;![](exh992fig7_10b.jpg) |
| &nbsp;&nbsp; C) Stockwork Quartz Tourmaline Pyrite Veins<br>Hosted In Strongly Sericite-Silica Altered Quartz Porphyry, Marathon Deposit<br>| &nbsp;&nbsp;D) Field Relationship Between Set 1 (Extensional) And Set 2 (Shear Parallel) Veins, Leprechaun Deposit |
| &nbsp;&nbsp;![](exh992fig7_10c.jpg) | &nbsp;&nbsp;![](exh992fig7_10d.jpg) |

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The relationship between high-grade gold mineralization and the location of the dykes supports the theory that the mafic dykes provide a rheologic contrast that (1) promotes brittle fracturing of the granitoid unit and therefore, acts as a controlling factor of mineralized fluid flow, and (2) incites the eventual emplacement of zones of gold enrichment.

The individual characteristics of mineralization at the Marathon, Leprechaun, and Berry deposits are described below. The information in the following sections is summarized from Murahwi (2017), Dunsworth et al. (2017), and Capps and Dunsworth (2019). Downhole surveys were conducted on all drill holes, and the azimuth and dip were measured at varying intervals to plot the drill holes in real space. Measurements were typically taken every 25 m for holes drilled before 2019 and every 2 to 5 m for holes drilled in 2019 or later. Consequently, the relationship between the sample length and the true thickness of the mineralization is well documented, and all assay sample intervals are given as core length unless noted as true thickness.

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| 7-15 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

7.4 Marathon Deposit

The Marathon deposit is located 6 km northeast of the Leprechaun deposit and consists dominantly of shallow, southwest-dipping en echelon stacked QTP gold veins that intrude dominantly quartz monzonite and lesser aphanitic quartz-porphyry and mafic dykes of the VLIC. Near the southwest end of the deposit, "main zone" mineralization occurs proximal to the VLSZ, but this main zone veers off the VLSZ by approximately 20 degrees moving to the north. At the northeast edge of the deposit, mineralization has migrated as much as 230 m away from the VLSZ.

The Main Zone of gold-bearing QTP veining forms a northeast-trending sub-vertical mineralized corridor of intense QTP gold veining that ranges between 50 m to 200 m in width, occurs over a strike length of more than 1.5 km, and has been observed in outcrop and drill-observed to a downhole depth of 1,000 m (Dunsworth et al. 2017; see Figure 7-11).

The Main Zone contains a lenticular series of shallow, southwest-dipping, gold-bearing QTP veining and is open at depth. Characteristic gold intervals from drill holes that penetrated downward at high angle through the shallow, southwest-dipping, en echelon stacked QTP-Au vein swarms of the Marathon deposit are presented in Table 7-1.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 7-11: Section Showing Geology of the Marathon Deposit
Note: Elevation in 200 m Increments.

Source: Equinox 2026.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 7-1: Selection of Significant Fire Assay Gold Intervals, Marathon Deposit

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|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **DDH** | **Section** | **Az** | **Dip** | **From** | **To** | **Core <br> Length (m)** | **True <br> Thickness (m)** | **Gold g/t<br> (Uncut)** | **Gold g/t<br> (Cut)** |
| MA-19-442 | 16750 | 343 | -87 | 168 | 220 | 52 | 49.4 | 2.17 |  |
| including |  |  |  | 215 | 220 | 5 | 4.8 | 7.14 |  |
| MA-19-372 | 17220 | 345 | -80 | 17 | 62 | 45 | 42.8 | 3.52 | 3.48 |
| including |  |  |  | 30 | 34 | 4 | 3.8 | 14.25 | 13.90 |
| MA-18-303 | 17350 | 163 | -85 | 100 | 249 | 149 | 141.6 | 1.54 |  |
| including |  |  |  | 129 | 134 | 5 | 4.8 | 6.60 |  |
| including |  |  |  | 185 | 191 | 6 | 5.7 | 6.35 |  |
| MA-18-295 | 17110 | 343 | -79 | 437 | 496 | 59 | 56.1 | 7.97 | 4.13 |
| including |  |  |  | 489 | 494 | 5 | 4.8 | 57.74 | 22.11 |
| MA-17-239 | 17260 | 343 | -61 | 183 | 282 | 99 | 79.2 | 1.85 |  |
| included |  |  |  | 183 | 189 | 6 | 4.8 | 10.42 |  |
| MA-17-220 | 17260 | 342 | -82 | 6 | 227 | 221 | 210.0 | 1.32 |  |
| including |  |  |  | 15 | 22 | 7 | 6.7 | 3.37 |  |
| including |  |  |  | 140 | 150 | 10 | 9.5 | 3.18 |  |
| MA-17-218 | 17210 | 344 | -82 | 4 | 213 | 209 | 198.6 | 1.36 |  |
| including |  |  |  | 4 | 32 | 28 | 26.6 | 3.63 |  |
| MA-17-217 | 17230 | 340 | -82 | 24 | 195 | 171 | 162.5 | 1.51 | 1.49 |
| including |  |  |  | 51 | 63 | 12 | 11.4 | 4.68 |  |
| MA-17-213 | 17160 | 334 | -83 | 17 | 242 | 225 | 213.8 | 1.88 |  |
| including |  |  |  | 17 | 42 | 25 | 23.8 | 3.38 |  |
| including |  |  |  | 171 | 196 | 25 | 23.8 | 4.87 |  |
| MA-17-188 | 17190 | 343 | -80 | 21 | 347 | 326 | 309.7 | 2.13 |  |
| including |  |  |  | 78 | 139 | 61 | 58.0 | 3.36 |  |
| including |  |  |  | 209 | 241 | 32 | 30.4 | 4.04 |  |
| including |  |  |  | 317 | 339 | 22 | 20.9 | 3.18 |  |
| MA-17-186 | 17330 | 342 | -82 | 195 | 386 | 191 | 181.5 | 1.61 |  |
| including |  |  |  | 279 | 306 | 27 | 25.7 | 3.16 |  |
| MA-17-176 | 17330 | 343 | -81 | 141 | 259 | 118 | 112.1 | 1.56 |  |
| including |  |  |  | 204 | 226 | 22 | 20.9 | 3.58 |  |
| MA-17-162 | 17170 | 343 | -82 | 35 | 160 | 125 | 118.75 | 2.12 |  |
| including |  |  |  | 109 | 125 | 16 | 15.2 | 4.34 |  |
|  |  |  |  | 210 | 253 | 43 | 40.9 | 4.18 | 4.08 |
| including |  |  |  | 239 | 244 | 5 | 4.8 | 9.11 |  |
| MA-17-160 | 17270 | 343 | -82 | 134 | 209 | 75 | 71.3 | 3.92 | 2.29 |
| including |  |  |  | 183 | 188 | 5 | 4.8 | 33.40 | 8.96 |
| MA-17-159 | 17240 | 343 | -82 | 88 | 138 | 50 | 47.5 | 3.43 | 2.30 |
| including |  |  |  | 131 | 138 | 7 | 6.7 | 15.36 | 7.24 |
|  |  |  |  | 161 | 211 | 50 | 47.5 | 2.57 |  |
| including |  |  |  | 161 | 173 | 12 | 11.4 | 6.10 |  |

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Note: Assays cut to 30 g/t Au as per press releases, Marathon resource capped to 55 g/t.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

At present, the peripheries of the Marathon deposit mineralized zone are relatively poorly defined, with potential to extend the deposit both to the northeast and southwest. Exploration is planned to test the extent of the Main Zone to the northeast as it extends away from the VLSZ, as well as testing the continuity of mineralization between the Berry Deposit and the southwestern edge of the Marathon Deposit.

7.5 Leprechaun Deposit

The Leprechaun deposit consists of QTP gold-bearing extensional and lesser shear-parallel veins that intrude variably sheared and fractured trondhjemite, as well as sheared mafic dykes of the VLIC.

Mineralization at Leprechaun extends over a strike length of more than 900 m and has been identified at surface in outcrop and in drilling to depths of up to 400 m. The Leprechaun deposit differs from the Marathon deposit in the relatively tight concentration of mineralization in Main Zone type configurations of en-echelon stacked QTP-Au vein sets. These Main Zones range from 30 to 120 m wide, dip to the northwest, and are located proximal to the VLSZ contact within the VLIC trondhjemite. In the characteristic fashion, the dominant en-echelon stacked, southwest-dipping extensional QTP-Au (Set 1) veins occur at high angle or perpendicular to the penetrative regional L<sub>1</sub> stretching lineation, while the lesser shear parallel QTP-Au veins strike subparallel to slightly oblique to the VLSZ (Dunsworth 2011; Dunsworth et al. 2017; Lincoln et al. 2018a, 2018b). Set 1 extensional QTP-Au veins at Leprechaun appear to have a moderately steeper southwest dip than at Marathon (Kruse and Bartsch 2021).

The QTP-Au mineralization at Leprechaun has been modelled in three zones from west to east: Hanging Wall Zone, Main Zone and Footwall Zone (Lincoln et al. 2018; Figure 7-12). The Main Zone is open at depth and is constrained to the southeast by the VLSZ (Figure 7-13) with a gradational transition to the Hanging Wall to the northwest. A high-grade central core occurs within the Main Zone and is bounded by 10–20 m thick mafic dykes to the northwest and the Rogerson Lake Conglomerate to the southeast. This configuration defines a lenticular zone of dense quartz-tourmaline-pyrite (QTP) veining that remains open at depth.

The Hanging Wall Zone occurs transitionally west of the Main Zone and consists of a series of variably shallow to moderately dipping, stacked, en-echelon extensional QTP tension gashes, with minor steeper-dipping QTP veins extending up to 350 m northwest into the hanging wall. The vein density and concentration of vein arrays increase toward the east, proximal to the Main Zone, and remain open to the northwest.

The Footwall Zone is a minor component of the Leprechaun deposit and comprises localized extensional and shear-parallel QTP veins that extend into the Rogerson Lake Conglomerate. Toward the southern part of the deposit, the Main Zone appears to peel slightly further away from the fault contact which spatially coincides with a marked increase in the volume of wide, discontinuous mafic dykes observed near the contact in this area. The gold-bearing mineralizing fluids appear to have used the mafic dyke contacts as fluid conduits and regularly breach and brecciate the margins of the dykes.

The QTP-Au mineralization at Leprechaun occurs as visible gold grains, up to 2 mm in size, occurring in quartz veins and along vein margins as well as within tourmaline masses and pyrite and in altered wall rock proximal to QTP-Au veins. A selection of significant gold intervals from drill holes that penetrated downward at high angle through the en-echelon stacked QTP-Au vein swarms of the Leprechaun deposit are presented in Table 7-2.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 7-12: Section Showing Geology of the Leprechaun Deposit
Source: Equinox 2026.

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| 7-20 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 7-13: Section showing the Geology and Mineralized Zones of Quartz-Tourmaline-Pyrite-Gold-Bearing Veins at the Leprechaun Deposit
Source: Equinox 2026.

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| 7-21 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 7-2: Selection of Significant Fire Assay Gold Intervals, Leprechaun Deposit

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|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **DDH** | **Section** | **Azimuth** | **Dip** | **From (m)** | **To (m)** | **Core Length (m)** | **Gold g/t<br> (Uncut)** | **Gold g/t (Cut)** |
| VL-10-165 | 10000 | 162.6 | -45 | 164 | 173 | 9 | 13.40 |  |
| VL-10-225 | 10012 | 169 | -80 | 64 | 91 | 19 | 6.53 |  |
| VL-10-226 | 10000 | 164.5 | -80 | 78 | 103 | 17 | 6.94 |  |
| VL-10-226 | 10000 | 164.5 | -80 | 90 | 103 | 13 | 11.81 |  |
| VL-11-246 | 10513 | 161 | -72 | 79 | 146 | 37.5 | 3.75 |  |
| VL-11-261 | 10538 | 165 | -48 | 167 | 183 | 12.8 | 9.68 |  |
| VL-11-288 | 10500 | 165 | -75 | 155 | 237 | 65.6 | 2.09 |  |
| VL-11-306 | 9938 | 160 | -54 | 196 | 210 | 13.3 | 16.15 |  |
| VL-11-352 | 10288 | 161 | -45 | 136 | 165 | 26.1 | 13.95 |  |
| VL-12-401 | 10350 | 164 | -75 | 176 | 206 | 30 | 3.93 |  |
| VL-12-403 | 10175 | 164 | -57 | 210 | 232 | 22 | 7.23 |  |
| VL-12-407 | 10125 | 164 | -62 | 289 | 304 | 15 | 9.19 |  |
| VL-12-408 | 10000 | 160 | -42 | 153 | 172 | 19 | 13.81 |  |
| VL-12-416 | 9988 | 163 | -30 | 52 | 60 | 8 | 15.80 |  |
| VL-12-465 | 10100 | 161 | -63 | 328 | 341 | 13 | 13.20 |  |
| VL-12-504 | 10010 | 161 | -71 | 314 | 321 | 7 | 45.58 |  |
| VL-13-523 | 10360 | 162 | -81 | 261 | 264 | 3 | 52.73 |  |
| VL-13-526 | 9960 | 163 | -70 | 228 | 264 | 36 | 4.26 |  |
| VL-13-537 | 10080 | 164 | -63 | 268 | 271 | 3 | 39.55 |  |
| VL-17-653 | 10000 | 342 | -58 | 102 | 283 | 181 | 3.42 | 3.17 |
| VL-17-654 | 10000 | 340 | -57 | 6 | 307 | 301 | 2.65 | 2.63 |
| VL-17-655 | 10120 | 342 | -59 | 280 | 431 | 151 | 2.34 |  |
| VL-17-656 | 10250 | 341 | -55 | 69 | 76 | 7 | 19.01 |  |
| VL-17-656 | 10250 | 341 | -55 | 3 | 36 | 33 | 3.72 |  |
| VL-19-679 | 10060 | 341 | -61 | 8 | 14 | 6 | 25.78 | 8.69 |
| VL-19-679 | 10060 | 341 | -61 | 152 | 174 | 22 | 9.02 | 7.55 |
| VL-19-679 | 10060 | 341 | -61 | 189 | 211 | 22 | 11.83 | 8.95 |
| VL-19-680 | 10080 | 344 | -59 | 21 | 92 | 71 | 2.52 |  |
| VL-19-681 | 10100 | 344 | -59 | 179 | 305 | 126 | 4.27 |  |
| VL-19-681 | 10100 | 344 | -59 | 334 | 376 | 42 | 4.11 |  |
| VL-19-686 | 10040 | 344 | -61 | 246 | 399 | 153 | 3.02 |  |

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|:---|:---|
| 7-22 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **DDH** | **Section** | **Azimuth** | **Dip** | **From (m)** | **To (m)** | **Core Length (m)** | **Gold g/t<br> (Uncut)** | **Gold g/t (Cut)** |
| VL-19-688 | 9960 | 342 | -55 | 245 | 275 | 30 | 5.06 |  |
| VL-19-688 | 9960 | 342 | -55 | 299 | 323 | 24 | 5.04 |  |
| VL-19-695 | 10020 | 343 | -63 | 42 | 140 | 98 | 2.41 |  |
| VL-19-697 | 9940 | 344 | -60 | 169 | 205 | 36 | 5.45 |  |
| VL-19-700 | 10190 | 344 | -65 | 62 | 91 | 29 | 4.39 |  |
| VL-19-703 | 10280 | 342 | -59 | 52 | 71 | 19 | 10.03 |  |
| VL-19-711 | 10350 | 345 | -62 | 256 | 330 | 74 | 4.24 |  |
| VL-19-711 | 10350 | 345 | -62 | 219 | 243 | 24 | 6.94 |  |
| VL-19-719 | 10350 | 343 | -64 | 99 | 140 | 41 | 4.49 |  |

---

Note: Assays cut to 30 g/t Au as per press releases, Leprechaun resource is capped at 54 g/t.

7.6 Berry Deposit

The Berry deposit is located approximately 3 km northeast of the Leprechaun deposit and 2 km southwest of the Marathon deposit and spans a strike length of 1.5 km. The deposit consists of dominantly shallowly southwest-dipping, en echelon, extensional QTP veining hosted in quartz monzonite and lesser mafic dykes and aphanitic quartz porphyry. The mineralized corridors are generally 20 m to 60 m wide and have been traced to depths of over 350 m. In localized zones, mineralization penetrates across the VLSZ and is found up to 20 m into the Rogerson Lake Conglomerate. Mineralization at the Berry deposit is found in tight QTP vein set packages bounded to the southeast by the VLSZ and the northwest by a series of mafic dykes oriented sub-parallel to the shear zone (Figure 7-14). This style and configuration of mineralization are reminiscent of the tightly concentrated mineralized QTP vein sets in the Leprechaun deposit.

The dominant vein orientation in the Berry deposit was found to be the extensional Set 1 veining dipping shallowly to the southwest, like that found in Leprechaun and Marathon deposits. In addition to the three vein sets found in Leprechaun and Marathon, Kruse (2020) documented a fourth orientation of mineralized veining at Berry that dips shallowly to the north-northeast. This QTP-Au vein set, referred to as "Set 3" of the four vein sets, is unique to Berry and appears to have a moderate (yet secondary) association with gold mineralization.

Drilling at the Berry deposit has defined multiple intervals of high-grade gold, with visible gold throughout up to 3 mm in size. A summary of the best results from the Berry deposit to date can be found in Table 7-3.

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| 7-23 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 7-14: Section showing the Geology and Mineralized Zones of Quartz-Tourmaline-Pyrite-Gold-Bearing Veins at the Berry Deposit
Source: Marathon Gold 2022.

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| 7-24 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 7-3: Berry Zone Drilling Results

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **DDH** | **Section** | **Azimuth** | **Dip** | **From<br> (m)** | **To <br> (m)** | **Core Length (m)** | **True Thickness (m)** | **Gold g/t (Uncut)** | **Gold g/t (Cut)** |
| VL-18-676 | 13410 | 163 | -75 | 145 | 194 | 49 | 41.70 | 6.17 | 5.86 |
| VL-19-776 | 14740 | 162 | -46 | 9 | 14 | 5 | 3.50 | 10.43 |  |
| VL-19-778 | 13430 | 342 | -80 | 183 | 189 | 6 | 5.70 | 9.74 |  |
| VL-19-779 | 13380 | 337 | -80 | 85 | 96 | 11 | 10.50 | 5.54 |  |
|  |  |  |  | 50 | 63 | 13 | 12.40 | 3.82 |  |
| VL-19-780 | 14740 | 163 | -45 | 121 | 131 | 10 | 7.00 | 7.25 |  |
| VL-19-786 | 13700 | 163 | -44 | 165 | 187 | 22 | 15.40 | 7.6 | 6.97 |
| VL-20-799 | 13500 | 343 | -82 | 113 | 168 | 55 | 52.30 | 2.24 |  |
| VL-20-806 | 13730 | 163 | -45 | 155 | 169 | 14 | 9.80 | 8.06 |  |
| VL-20-813 | 13380 | 163 | -69 | 165 | 177 | 12 | 10.20 | 8.03 |  |
| VL-20-823 | 13690 | 343 | -77 | 87 | 207 | 120 | 114.00 | 3.33 | 3.31 |
| VL-20-824 | 13720 | 344 | -80 | 19 | 23 | 4 | 3.80 | 51.52 | 8.18 |
|  |  |  |  | 107 | 143 | 36 | 34.20 | 3.37 | 3.20 |
| VL-20-835 | 13420 | 343 | -83 | 166 | 213 | 47 | 44.65 | 2.96 | 2.41 |
| VL-20-838 | 13650 | 345 | -73 | 121 | 232 | 111 | 94.35 | 1.47 | 1.43 |
| VL-20-839 | 13940 | 163 | -45 | 12 | 21 | 9 | 6.30 | 14.39 | 7.69 |
| VL-20-873 | 13740 | 343 | -75 | 6.74 | 92 | 85.26 | 81.04 | 2.61 | 2.6 |
| VL-20-876 | 14700 | 164 | -45 | 87 | 109 | 22 | 15.40 | 4.91 | 3.85 |
| VL-20-889 | 13580 | 342 | -77 | 37 | 79 | 42 | 39.90 | 3.70 | 2.67 |
| VL-20-907 | 13680 | 344 | -76 | 97 | 104 | 7 | 6.65 | 18.16 | 6.69 |
| VL-21-955 | 14840 | 163 | -65 | 119 | 122 | 3 | 2.40 | 14.93 | 10.36 |
|  |  |  |  | 232 | 254 | 22 | 17.60 | 6.57 | 5.45 |
| VL-21-987 | 13710 | 342 | -77 | 55 | 211 | 156 | 140.40 | 1.69 | 1.66 |
| VL-21-973 | 13640 | 343 | -78 | 149 | 194 | 45 | 40.50 | 1.84 | 1.79 |
| VL-21-995 | 14150 | 336 | -83 | 105 | 124 | 19 | 18.05 | 5.07 |  |
| VL-21-1010 | 13560 | 163 | -57 | 28 | 49 | 21 | 16.80 | 5.59 | 4.33 |
|  |  |  |  | 161 | 187 | 26 | 20.80 | 1.58 |  |
| VL-21-1027 | 13650 | 164 | -70 | 30 | 52 | 22 | 18.70 | 3.04 |  |
| VL-21-1050 | 14200 | 343 | -81 | 85 | 89 | 4 | 3.80 | 7.64 |  |
| VL-21-1072 | 14120 | 352 | -74 | 108 | 130 | 22 | 19.80 | 2.25 |  |
| VL-21-1088 | 13770 | 350 | -79 | 11 | 12 | 1 | 0.90 | 83.07 | 30 |
| VL-21-1102 | 13650 | 346 | -75 | 196 | 218 | 22 | 19.80 | 1.33 |  |
| VL-21-1150 | 14120 | 342 | -75 | 162 | 183 | 21 | 18.90 | 7.17 | 4.58 |

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| 7-25 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

7.7 Frank Zone

The Frank Deposit is located immediately southwest of the Leprechaun Deposit. It is characterized by predominantly shallow, southwest-dipping, en-echelon extensional QTP veining hosted within VLIC trondhjemite, with lesser contributions from mafic dykes. The mineralized corridor is generally 20 m to 50 m thick and has been traced to depths of approximately 750 m. Mineralization at the Frank Zone is constrained by the Rogerson Lake Conglomerate to the southeast and a series of thin, steeply dipping mafic dykes to the northwest, which are oriented parallel to subparallel to the shear zone fabric.

Consistent with regional structural settings, the dominant en-echelon, southwest-dipping extensional QTP-Au (Set 1) veins occur at high angles—or perpendicular—to the penetrative regional L1 stretching lineation. In contrast, the subordinate shear-parallel QTP-Au veins strike subparallel to, or slightly oblique to, the VLSZ (Dunsworth 2011; Dunsworth et al. 2017; Lincoln et al. 2018a, 2018b). Figure 7-15 shows the relationship between the mineralized corridor, the Rogerson Lake Conglomerate, and the mafic dykes in Frank Zone.

A major distinguishing feature of the Frank Zone, relative to other deposits along the VLSZ, is the presence of large shear-parallel veins exposed at surface. The Repeater Hill vein extends for approximately 300 m along strike and reaches widths of up to 2 m to 3 m locally. Frank is the only area exhibiting surface-exposed veining of comparable scale. In addition to the Repeater Hill vein, several other shear-parallel veins are exposed at surface; although smaller, they remain notably continuous relative to those observed elsewhere along the structure. Frank exists at a flexure in the VLSZ, rotating from NE-SW in the Leprechaun, Berry and Marathon deposits, to east-west in Frank. Concurrently, the dip of the fault zone shallows significantly at Frank.

At surface, these veins are predominantly composed of bull quartz but locally contain pyrite as well as minor polymetallic mineralization, including sphalerite, chalcopyrite, and galena. While not common, these minerals do occur intermittently within the vein system.

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| 7-26 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 7-15: Section showing the Geology and Mineralized Zones of Quartz-Tourmaline-Pyrite Gold-Bearing Veins at the Frank Zone
Source: Equinox 2025

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| 7-27 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

8.0 Deposit Types

A schematic model for gold mineralization in central Newfoundland within the Dunnage Zone of the Newfoundland Appalachian system is shown in Figure 8-1. This figure also depicts the geological setting of the Valentine Gold Project.

#### Figure 8-1: Gold Mineralization in Central Newfoundland, Dunnage Zone
Source: Modified from Honsberger et al. 2019.

There are four principal types of gold mineralization found in Newfoundland: orogenic (or mesothermal); epithermal; sediment-hosted; and VMS-related gold (e.g., Swinden et al. 1991; Evans 1993; Evans and Wilson 1994; Evans 1996; Evans and Wilton 2000; Wardle 2005; Sandeman et al. 2010; Barrington et al. 2016). In central Newfoundland, numerous examples of mesozonal to epizonal, orogenic gold mineralizing systems appear to be spatially related to vein-hosted gold in association with crustal-scale fault zones and faults, late orogenic timing and possible wall rock alteration as manifested by extensive carbonate alteration (Tuach et al. 1988; Evans 1996, 1999; Groves et al. 2003; Wardle 2005). The ultimate genetic origin is uncertain; in some occurrences, gold mineralization may be intrusion-related and/or have textures suggestive of epithermal styles.

The gold mineralization at the Valentine property occurs as structurally controlled, orogenic gold deposits associated with Salinic-aged crustal shortening and deformation. Field-based and oriented drill core structural studies (Kruse 2020; Kruse and Bartsch 2021) have advanced the understanding of the structural model at the Valentine property. Gold mineralization occurs within quartz-tourmaline-pyrite (QTP) vein sets formed during brittle-ductile deformation of granitoid rocks of the Neoproterozoic Valentine Lake Intrusive Complex (VLIC) near their contact with the Silurian Rogerson Lake Conglomerate. This contact coincides with the Valentine Lake Shear Zone (VLSZ), a major northeast–southwest-trending crustal-scale lithotectonic boundary. The VLIC and VLSZ together represent fundamental structural elements of the Dunnage Zone within the Newfoundland Appalachian system.

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| 8-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Development of en echelon stacked southwest dipping extensional vein sets (Set 1), with lesser shear parallel vein sets (Set 2) have been delineated at the Leprechaun, Sprite, Berry, Marathon, and Victory deposits, and at the Frank, Rainbow, Steve, Scott, Triangle, Narrows, Victory SW and Victory NE occurrences. This vein morphology and structural framework is commonly observed in shear zone hosted gold deposits where the shallow dipping extension veins are less laterally extensive, and the steeper fault-fill veins may display a large vertical extent. However, at the Valentine Gold property, the QTP-Au en echelon stacked, extensional Set 1 veins represent the dominant structurally controlled mineralization style.

The extensional Set 1 and shear-parallel Set 2 QTP-Au veins range from millimetre-scale to three metres thick but are typically 2 cm to 30 cm thick. Local veins have been traced in trenched outcrop exposure for over 280 m continuous strike length; however, the observed strike length of individual veins is typically in the range of tens of metres to tens of centimetres. At the Marathon deposit, where mineralization has been traced to at least 1,000 m below surface within an approximately 150 m wide mineralized corridor, individual southwest-dipping Set 1 extensional veins have been traced laterally in outcrop and trenches for locally over 100 m.

In addition, mineralization has been defined at the Minotaur, South Quinn and Victoria Bridge showings, all outside the main zone of mineralization along the VLSZ. Hydrothermal alteration and mineralization in these showings differ from the QTP-Au veining along the VLSZ in their chemistry and sulphide components, likely due to compositional differences in the host rocks with which the mineralizing fluids interact. These areas of mineralization may be part of the same mineralizing system as that found along the VLSZ, but also present different geometries, a result of differing strain reactivity in different lithologies.

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| 8-2 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

9.0 Exploration

Since acquiring the Property, Equinox has conducted no exploration on the Property.

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| 9-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

10.0 Drilling

Historical drilling at the Valentine property includes 136 drill holes (23,775 m) drilled by various companies prior to 2010. The historical drill information is summarized in Section 6.2. Historical drill holes utilized in the current Mineral Resource estimates pertain predominantly to the Leprechaun deposit, where 25 historical drill holes and 4,755 historical assays were utilized in the Mineral Resource estimate (5.2% and 6.7% of the total drill hole and assay files, respectively). The Marathon and Berry deposits do not utilize any historical drill holes or assays.

The most recent drill program completed in 2025 included 200 diamond drill holes for a total of 68,062 m. This drill program focused mainly on defining the Frank Zone, with 30,304.7 m of infill and step-out drilling completed, targeting an initial resource in Frank by the end of 2026. In addition, drilling targeted new areas, including Minotaur, Marathon Gabbro, Rainbow, Western Peninsula, Northwest Contact, Scott Showing, and various greenfield holes in unnamed areas across the project. Drilling was also completed in the Leprechaun, Berry, and Marathon Deposits to test the potential continuity of mineralization at depth.

Between 2010 and 2025, Equinox and its predecessors completed 2,360 diamond drill holes totaling 543,196 m across the Valentine property. Most of the drilling was completed at the principal deposits that form the basis of the Mineral Resource Estimate, including Marathon (154,843.8 m; 28.5%), Berry (126,226.3 m; 23.2%), and Leprechaun (95,598.3 m; 17.6%). Additional drilling was completed at the Frank target (59,076.8 m; 10.9%), Victory (22,273.2 m; 4.1%), and Sprite (21,498.9 m; 4.0%). Drill holes along the main VLSZ are generally oriented in two directions, with initial drill holes shallowly oriented towards 163 degrees, drilling across geological domains to test the location of mafic dykes and the contact with the Rogerson Lake Conglomerate. Additional drillholes are then drilled steeply to the northwest, at 343 degrees, drilling at high angle to the Set 1 veins and testing vertical continuity of mineralization. Sporadic drill holes have also been oriented at odd angles to the standard two orientations to test for additional vein sets and/or structures that have not previously been recognized.

Exploration drilling outside the main resource areas totals 63,678.5 m (11.7%) and includes targets such as Banshee (formerly Marathon South), Minotaur, Narrows, Triangle, Victory SW and Victory NE, Western Peninsula, and the Scott and Steve zones, as well as areas associated with proposed infrastructure including the Marathon, Leprechaun, and Berry waste rock storage facilities (WRSF) and the tailings management facility (TMF). A summary of drilling by target is provided in Table 10-1.

At the time of the Mineral Resource database cut-off, assays from several holes drilled in 2025 had not yet been received and verified and were therefore excluded from the Mineral Resource estimate.

The database includes drill hole information from historical and Equinox drill holes. The cut-off date for the assay database supporting the updated Mineral Resource estimates for the Leprechaun, Berry, and Marathon deposits is October 31, 2025. The current drill hole and assay files are summarized in Table 10-2.

A summary of the drill hole collar locations at the Marathon, Leprechaun, and Berry deposits is presented in Figure 10-1, Figure 10-2, and Figure 10-3, respectively. The updated 2025 drill hole and current assay files form the basis for the new resource estimates at the Leprechaun, Berry and Marathon deposits presented in Section 14.0.

A summary of the diamond drilling used at Valentine is discussed in the subsections that follow.

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| 10-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 10-1: Summary of Drilling by Target

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| | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | **2010** | **2011** | **2012** | **2013** | **2014** | **2015** | **2016** | **2017** | **2018** | **2019** | **2020** | **2021** | **2022** | **2023** | **2024** | **2025** | **Total** |
| BZ | # of DDHs | - | - | - | - | - | 7 | - | - | 22 | 21 | 159 | 215 | 99 | - | - | 12 | 535 |
| BZ | Metres | - | - | - | - | - | 716.00 | - | - | 4973.50 | 4197.63 | 31739.80 | 58221.50 | 20901.23 | - | - | 5476.67 | 126226.33 |
| EA | # of DDHs | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 16 |  | 16 |
| EA | Metres | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 3410.00 |  | 3410.00 |
| FZ | # of DDHs | - | 12 | 55 | - | - | - | - | - | - | - | - | - | - | 23 | 45 | 99 | 234 |
| FZ | Metres | - | 108.00 | 8198.80 | - | - | - | - | - | - | - | - | - | - | 3904.00 | 16561.30 | 30304.70 | 59076.80 |
| LP | # of DDHs | 96 | 124 | 72 | 22 | - | - | 2 | 23 | - | 69 | - | - | - | - | 13 | 4 | 425 |
| LP | Metres | 10942.90 | 21452.60 | 21133.50 | 7207.60 | - | - | 181.00 | 9366.20 | - | 20510.50 | - | - | - | - | 3782.00 | 1022.00 | 95598.30 |
| LWD | # of DDHs | - | 2 | - | - | - | - | - | - | - | - | 30 | - | - | - | - | - | 32 |
| LWD | Metres | - | 307.00 | - | - | - | - | - | - | - | - | 4194.70 | - | - | - | - | - | 4501.70 |
| MA | # of DDHs | - | - | - | - | 25 | 41 | 76 | 105 | 82 | 141 | - | - | - | - | 3 | 4 | 477 |
| MA | Metres | - | - | - | - | 4132.60 | 7922.40 | 18784.00 | 46674.94 | 34403.37 | 37787.60 | - | - | - | - | 2032.92 | 3105.94 | 154843.77 |
| MAN | # of DDHs | - | - | - | - | - | 12 | - | - | - | - | 14 | - | - | - | 4 | - | 30 |
| MAN | Metres | - | - | - | - | - | 1266.00 | - | - | - | - | 2260.00 | - | - | - | 1766.78 | - | 5292.78 |
| MAS | # of DDHs | - | - | - | - | - | - | 3 | - | 3 | 1 | 24 | - | - | - | - | - | 31 |
| MAS | Metres | - | - | - | - | - | - | 499.20 | - | 205.50 | 128.00 | 5767.00 | - | - | - | - | - | 6599.70 |
| MT | # of DDHs | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 27 | 27 |
| MT | Metres | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 8614.65 | 8614.65 |
| MWD | # of DDHs | - | - | - | - | - | - | - | - | - | - | 21 | 24 | - | - | - | 15 | 60 |
| MWD | Metres | - | - | - | - | - | - | - | - | - | - | 2937.00 | 3744.00 | - | - | - | 3153.00 | 9834.00 |
| SA | # of DDHs | - | - | - | - | 11 | - | 1 | 16 | - | - | - | - | - | - | - | 14 | 42 |
| SA | Metres | - | - | - | - | 937.00 | - | 110.00 | 2174.10 | - | - | - | - | - | - | - | 6079.20 | 9300.30 |
| SZ | # of DDHs | - | 8 | 1 | 13 | 54 | 2 | - | - | - | 24 | - | 16 | - | - | 12 | 3 | 133 |
| SZ | Metres | - | 1146.20 | 218.00 | 1152.00 | 7308.00 | 199.00 | - | - | - | 2846.60 | - | 3701.10 | - | - | 3965.00 | 963.00 | 21498.90 |
| P-TMF | # of DDHs | - | - | - | - | - | - | - | - | - | - | 49 | - | - | - | - | - | 49 |
| P-TMF | Metres | - | - | - | - | - | - | - | - | - | - | 6782.33 | - | - | - | - | - | 6782.33 |
| UN | # of DDHs | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 17 | 17 |
| UN | Metres | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 8529.00 | 8529.00 |
| VGD | # of DDHs | - | 6 | - | 20 | 10 | 4 | 7 | - | 13 | - | - | 28 | 18 | - | 5 | - | 111 |
| VGD | Metres | - | 1307.40 | - | 2032.00 | 1120.00 | 383.00 | 620.00 | - | 1832.00 | - | - | 8336.80 | 5093.00 | - | 1549.00 | - | 22273.20 |
| WP | # of DDHs | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 5 | 5 |
| WP | Metres | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 814.00 | 814.00 |
|  | Total DDH | 96 | 152 | 128 | 55 | 100 | 66 | 89 | 144 | 120 | 256 | 297 | 283 | 117 | 23 | 98 | 200 | **2224** |
|  | Total metres | 10942.90 | 24321.20 | 29550.30 | 10391.60 | 13497.60 | 10486.40 | 20194.20 | 58215.24 | 41414.37 | 65470.33 | 53680.83 | 74003.40 | 25994.23 | 3904.00 | 33067.00 | 68062.16 | **543195.76** |
|  | *Historical DDH* | *-* | *-* | *-* | *-* | *-* | *-* | *-* | *-* | *-* | *-* | *-* | *-* | *-* | *-* | *-* | *-* | *136.00* |
|  | *Historical metres* | *-* | *-* | *-* | *-* | *-* | *-* | *-* | *-* | *-* | *-* | *-* | *-* | *-* | *-* | *-* | *-* | *25652.00* |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Total DDH | **2360** |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Total metres | **568847.76** |

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| 10-2 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

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| | |
|:---|:---|
| &nbsp;&nbsp;**Location Legend** | &nbsp;&nbsp;**Location Legend** |
| &nbsp;&nbsp;BP | &nbsp;&nbsp;Berry Deposit |
| &nbsp;&nbsp;EA | &nbsp;&nbsp;Eastern Arm & South Quinn |
| &nbsp;&nbsp;FZ | &nbsp;&nbsp;Frank Zone |
| &nbsp;&nbsp;LP | &nbsp;&nbsp;Leprechaun Deposit (incl Leprechaun South) |
| &nbsp;&nbsp;LWD | &nbsp;&nbsp;Leprechaun Waste Dump |
| &nbsp;&nbsp;MA | &nbsp;&nbsp;Marathon Deposit |
| &nbsp;&nbsp;MAN | &nbsp;&nbsp;Narrows and Triangle |
| &nbsp;&nbsp;MAS | &nbsp;&nbsp;Marathon South |
| &nbsp;&nbsp;MT | &nbsp;&nbsp;Minotaur |
| &nbsp;&nbsp;MWD | &nbsp;&nbsp;Marathon Waste Dump |
| &nbsp;&nbsp;SA | &nbsp;&nbsp;Sprite Area (Rainbow, Scott and Steve) |
| &nbsp;&nbsp;SZ | &nbsp;&nbsp;Sprite Deposit |
| &nbsp;&nbsp;P-TMF | &nbsp;&nbsp;Tailings Management Facility |
| &nbsp;&nbsp;UN | &nbsp;&nbsp;Undeclared Prospects |
| &nbsp;&nbsp;VGD | &nbsp;&nbsp;Victory Deposit (incl VNE and VSW) |
| &nbsp;&nbsp;WP | &nbsp;&nbsp;Western Peninsula |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Totals** | &nbsp;&nbsp;**Totals** | &nbsp;&nbsp;**Totals** | &nbsp;&nbsp;**Totals** | &nbsp;&nbsp;**Totals** | &nbsp;&nbsp;**Totals** | &nbsp;&nbsp;**Totals** |
|  | &nbsp;&nbsp;**Marathon** | &nbsp;&nbsp;**Leprechaun** | &nbsp;&nbsp;**Berry** | &nbsp;&nbsp;**Victory** | &nbsp;&nbsp;**Sprite** | &nbsp;&nbsp;**Frank** | &nbsp;&nbsp;**All others** |
| &nbsp;&nbsp;Metres Drilled | &nbsp;&nbsp;154843.77 | &nbsp;&nbsp;95598.30 | &nbsp;&nbsp;126226.33 | &nbsp;&nbsp;22273.20 | &nbsp;&nbsp;21498.90 | &nbsp;&nbsp;59076.80 | &nbsp;&nbsp;63678.46 |
| &nbsp;&nbsp;% of Total Metreage | &nbsp;&nbsp;28.51% | &nbsp;&nbsp;17.60% | &nbsp;&nbsp;23.24% | &nbsp;&nbsp;4.10% | &nbsp;&nbsp;3.96% | &nbsp;&nbsp;10.88% | &nbsp;&nbsp;11.72% |
| &nbsp;&nbsp;# of DDH | &nbsp;&nbsp;477 | &nbsp;&nbsp;425 | &nbsp;&nbsp;535 | &nbsp;&nbsp;111 | &nbsp;&nbsp;133 | &nbsp;&nbsp;234 | &nbsp;&nbsp;309 |

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| 10-3 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 10-2: Summary of the Marathon, Leprechaun, and Berry Geological Databases used in the Updated Mineral Resource Estimations

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| | | | |
|:---|:---|:---|:---|
| **Exploration Activity** | **Marathon** | **Leprechaun** | **Berry** |
| Drill holes | 716 drill holes totalling 161,717 m in total length drilled | 498 drill holes totalling 104,746 m in total length drilled | 580 drill holes totalling 128,641 m in total length drilled |
| Gold Assays | 111,786 assays totalling 156,034 m of total assayed length (96.4% of the total length drilled) | 74,893 assays totalling 101,403 m of total assayed length (96.8% of the total length drilled) | 91,000 assays totalling 119,250 m of total assayed length (92.7% of the total length drilled) |
| Lithological Records | 17,083 lithological records | 8,792 lithological records | 10,143 lithological records |
| Survey Records | 25,749 downhole survey records | 25,671 downhole survey records | 28,889 downhole survey records |
| Visible Gold Records | 1,460 visible gold records | 1,285 visible gold records | 609 visible gold records |
| QTPV Records | 3,342 QTPV records | 2,751 QTPV records | 5,784 QTPV records |

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Notes:

QTPV = quartz-tourmaline-pyrite mineralized zones.

Records summarized above reflect drill hole data based on the Mineral Resource estimate selection cutoff of October 2025.

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| 10-4 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 10-1: Diamond Drill Holes Completed by Equinox at the Marathon Deposit
Source: Equinox 2025.

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| 10-5 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 10-2: Diamond Drill Holes Completed by Equinox at the Leprechaun Deposit
Source: Equinox 2025.

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| 10-6 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 10-3: Diamond Drill Holes Completed by Equinox at the Berry Deposit
Source: Equinox 2025.

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| 10-7 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

10.1 Diamond Drilling Procedures

Diamond drilling was conducted by Springdale Forestry of Springdale, NL, between 2010 and 2011, and by RNR Drilling Ltd. (Rob's Grader Services) of Springdale from 2012 onward.

Since 2010, collars were positioned using a Trimble R8, R12i, or TopCon Hiper HR GPS unit and were aligned to the designated azimuth using a Reflex TN-14 gyroscopic compass or traditional compass and picket method for holes prior to 2017. The TN-14 unit uses a fibre-optic gyroscope to determine the rig's azimuth and dip. Upon completion of each drill hole, the GPS unit was used to record the final UTM coordinates of the collar location, spatially referenced to the NAD83 UTM coordinate system. All drill holes are subjected to downhole deviation surveys to accurately quantify the borehole trajectory. Equinox's predecessors historically employed a range of survey instruments supplied by Reflex (now formally Imdex), with equipment selection evolving as technological advancements advanced. Since 2024, the primary instrument utilized has been the Reflex Omni-42 gyroscopic survey tool. The Omni-42 incorporates dual north-seeking gyroscopes to determine azimuth and inclination at discrete intervals, typically spaced every 2 m to 5 m throughout the borehole profile. Consequently, the relationship between the sample length and the true thickness of the mineralization is well-documented, and all assay sample intervals are given as core length unless noted as true thickness.

Diamond drilling was conducted using wireline NQ-size double-tube barrels, typically producing 3 m runs of core, except in areas of poor recovery. Core splits are archived for future geological confirmation and QA/QC work. Drilling has been conducted as both inclined and sub-vertical holes to accommodate the variable dip of mineralized domains. Inclined holes were typically drilled at an inclination of 45° to 83° and were oriented either southeast or northwest to intercept the shallowly southeast-dipping QTP veins, the steeply northwest-dipping shear parallel QTP veins, and the steeply northwest-dipping contact between the VLIC and the Rogerson Lake Conglomerate.

Advanced exploration drilling has been conducted on nominal 100 m spaced lines with 30 m spaced holes, closing to 25 m x 25 m and up to 10 to 15 m drill centers at the Marathon, Leprechaun, and Berry deposits.

At the end of each run, the driller placed the drill core into core boxes marked with a box number. The driller inserted a block marked with the run depth in metres at the end of each run. The drill core was then transported to the core logging facility at the end of each 12-hour shift.

After completing the hole, collars were marked with a wooden pole bearing the hole number. Drill collar positions were surveyed after completion of the drill hole using either a Trimble or a Topcon GPS system. The Trimble is comprised of an R8 or R12i base station and a rover, and a handheld Geo XM, while the TopCon uses two Hiper HR units, both with base-station correction. These machines yielded an accuracy of less than 10 cm in collar locations and have been used to survey the locations of historic drill collars wherever they could be found.

At the core logging facility, each run was marked with an orientation line and geotechnically logged. The core was then photographed, geologically logged, and marked for sampling by the geologist prior to cutting in half with a core saw along the orientation line. In 2025 and for a portion of 2020, an ACT-III orientation tool was used to orient drill core, increasing confidence in vein, contact, and structural orientations. For the oriented core, additional steps were taken to ensure it was properly pieced together and oriented upon arrival at the core shack. An orientation line was placed on the core continuously across all properly oriented sections, with breaks where no orientation mark was recorded. In addition to standard geological logging, measurements were taken in these oriented holes to record the true orientations of veins, contacts, and structural features. After sampling was complete, the core boxes containing half core were stacked and stored at the Valentine exploration camp. Logging and sampling procedures are described in Sections 10.2.1 and 10.2.2.

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| 10-8 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

10.1.1 Logging

Marathon Gold geologists and field technicians conducted geotechnical logging, including recording core recovery, Rock Quality Designation (RQD), joint characteristics (such as natural breaks or planes of weakness), Initial Rock Strength (IRS), mineral infill, and weathering along joints.

Geological logging includes an initial summary log of the principal rock types and mineralized intervals, followed by a detailed geological log that describes a predetermined index of rock type, detailed lithology, alteration type and degree, mineralization, and structural observations. The geological log also contains the sample intervals and numbers.

10.1.2 Core Sampling

Since 2010, core cutting has been done with heavy-duty DeWalt 10ʺ wet tile saws using very thin, continuous-rim diamond porcelain blades and aluminum oxide conditioning sticks. In 2023, the Dewalt saws were replaced with Husqvarna MS 250 saws, and in 2024, two Corewise Automatic core saws were installed. Drill core samples were taken from half-cut cores, except in rare zones of intense fracturing, where the core was split manually. Sample intervals were determined by the geologist based on changes in lithology, alteration, and fracture intensity, and were nominally taken at 1 m intervals in mineralized zones and 2 m intervals in barren zones up until 2023, after which all holes were sampled at 1 m intervals. Sample locations were noted on the geological drill log. One-half of the drill core was placed in a plastic sample bag, tagged with a unique sample number, tied, and batched for dispatch to the laboratory for preparation and analysis. Equinox Gold sampled the entire length of each hole excepting large zones of mafic dyke or conglomerate that contained no visible veining.

Specific gravity values have been systematically measured by site geologists using the Archimedes method, which measures the weight of a piece of core in air, the weight of the same piece of core in water, and then calculates the specific gravity using the formula:

*Specific Gravity = W<sub>air</sub>/(W<sub>air</sub>-W<sub>water</sub>), where W represents weight.*

Samples were selected from half core and were chosen to represent the different lithologies, alteration types, and mineralized domains observed.

A detailed specific gravity program was initiated by Marathon Gold in the fall of 2021 that measures densities for all sample intervals and lithologies. The work included checks of all previous density measurements collected for the Leprechaun, Marathon and Berry deposits. Following this detailed specific gravity program, specific gravity samples have been collected regularly on all drill holes. Samples are collected every time there is a significant lithological, mineralogical, or alteration change, or every approximately 30m in consistent lithologies.

10.1.3 Sample Recovery

Diamond drill core recovery was routinely measured during core logging. Drill core recovery was excellent, averaging 95%. There is no evidence of bias or any relationship between core recovery and assayed gold grade.

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| 10-9 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

10.1.4 Database

Until 2019, geotechnical and geological logging data, as well as sample chain-of-custody data, were entered directly into Microsoft Excel worksheets per hole and manually updated into a master worksheet by the Exploration Manager. From 2019 to 2021, Geologists recorded geological and geotechnical information directly into the cloud-based MX Deposit database, which was customized to capture all the same information found in the Excel workbooks. Following the introduction of the MX Deposit database, numerous deficiencies were identified, prompting the introduction of the acQuire database in 2021 to record and analyze all drill data collected on site. Templates for logging were developed with Acquire support staff, and all Marathon and historical data were migrated to Acquire.

Assay results were appended to the geological worksheets using the Excel VLOOKUP function, with the sample number serving as the unique reference. This minimized the risk of data transcription errors when receiving analytical results. When logging began using the MX deposit database and while using acQuire, assay certificates were automatically uploaded to the program, further reducing the potential for human error.

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| 10-10 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

11.0 Sample Preparation, Analyses, and Security

11.1 Sample Preparation and Analysis

11.1.1 Introduction

This section includes a discussion of security, sample preparation, analytical techniques, and quality assurance/quality control (QA/QC) data from diamond drill core and reverse circulation (RC) chip samples collected by Equinox and its predecessors between January 1, 2010, and December 31, 2025. The majority (97%) of exploration samples collected by Equinox Gold were subsequently prepared and analyzed at Eastern Analytical, located in Springdale, NL. Eastern Analytical is ISO 17025 accredited and is independent of Marathon Gold, Calibre Mining, or Equinox Gold. In 2021, samples from the Victory Gold Deposit (VGD) and Marathon condemnation samples were sent to SGS in Lakefield, Ontario, for an accelerated return of results. SGS is ISO 17025 accredited and independent of Marathon Gold, Calibre Mining, or Equinox Gold. The analytical results are maintained by Equinox in an AcQuire database, and the assay files used in the current Mineral Resource estimates are presented and discussed in Section 14.0.

Equinox established a QA/QC protocol to ensure the reliability and validation of the exploration data. These measures include written field procedures for drilling, surveying, sampling, and assaying; data management; and database integrity.

Analytical control measures involve internal and external laboratory controls implemented to monitor the precision and accuracy of the sampling, preparation, and assaying processes. They are also important for preventing sample mix-ups and for monitoring voluntary or inadvertent contamination of samples.

Assaying protocols involve duplicating and replicating assays and inserting certified reference material (CRM) and blank samples to monitor the reliability of the assay results throughout the sampling and assaying process. Check assaying is normally performed as an additional test of the reliability of assaying results. It generally involves re-assaying a set number of sample rejects and pulps at a secondary umpire laboratory. A summary of QA/QC submittals from the Project by year are presented in Table 11-1. For the 382,804 samples analyzed between 2010 and 2025, Equinox has inserted 14,462 sample blanks (3.8%) and 19,517 CRMs (5.1%).

11.1.2 Chain of Custody

Samples were transported by Equinox directly from the Valentine exploration camp to Eastern Analytical in sealed rice sacks by company vehicle until 2020, when RNR Drilling, the diamond-drilling contractor, was contracted to deliver the samples to the laboratory. The date of shipping, number of bags per batch, delivery driver, and other pertinent information are recorded in both acQuire and a designated notebook. Starting in 2024, all material leaving the project site required a Material Shipping Notice approved by a manager, which was verified by the warehouse and security prior to leaving the site. Upon receipt of the Chain of Custody, laboratory personnel checked the seals on both the rice sacks and individual sample bags to ensure that sample integrity had been maintained during transport.

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| 11-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 11-1: Summary of Valentine 2010 to 2025 QA/QC Diamond Drill Hole Samples Submitted for Analyses

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Year** | **Drill Holes** | **Total Samples** | **Blanks** | **CRMs** | **Field Duplicates** | **Coarse Rejects Duplicates** | **Pulp Duplicates** | **Umpire Duplicates** |
| 2010 | 96 | 8907 | 254 | 356 | - | - | - | - |
| 2011 | 152 | 15600 | 363 | 724 | - | - | - | - |
| 2012 | 128 | 15363 | 423 | 834 | - | - | - | - |
| 2013 | 55 | 7131 | 143 | 289 | - | - | - | - |
| 2014 | 100 | 8425 | 191 | 377 | - | - | - | - |
| 2015 | 66 | 6493 | 151 | 305 | - | - | - | - |
| 2016 | 89 | 11259 | 189 | 451 | - | - | - | - |
| 2017 | 144 | 40288 | 606 | 1578 | - | - | - | - |
| 2018 | 120 | 27116 | 411 | 1058 | - | - | - | - |
| 2019 | 263 | 46876 | 717 | 1789 | - | - | - | - |
| 2020 | 319 | 22713 | 546 | 1151 | - | - | - | - |
| 2021 | 601 | 51019 | 2415 | 2565 | 140 | 33 | 121 | 136 |
| 2021 (SGS) | 41 | 6880 | 385 | 360 | - | - | - | - |
| 2022 | 118 | 17796 | 1107 | 880 | - | - | - | 69 |
| 2023 | 23 | 3862 | 164 | 153 | - | - | - | - |
| 2024 | 99 | 27663 | 1505 | 1220 | 40 | - | - | 800 |
| 2025 | 200 | 67409 | 3962 | 3958 | - | - | - | - |
| Total | 2614 | 384800 | 13532 | 18048 |  |  |  | **205** |

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11.1.3 Sample Preparation and Data Management

Diamond drilling completed on the Project from 2010 to 2025 was entirely surficial and was operated by contractors.

Diamond drill core was placed in labelled, covered wooden core boxes at the drill site and transported by vehicle or helicopter to the exploration camp's core logging facility. The drill core is archived in well-maintained core racks at the exploration camp. Representative samples of the drill core are bagged and stored in a container at the exploration camp.

In 2020, Marathon Gold initiated migrating drill logging, sampling, and analytical data from Excel files to the acQuire database. The process involved setting up logging templates, building importers and exporters, setting up permissions, and performing data validation checks. The data were validated over several months, and any data that could not be verified was assigned a code indicating it is not valid for the Mineral Resource estimation process.

All Marathon Gold's drill core logging, sample information, and analytical results are maintained within an acQuire database. This includes lithology, RQD, alteration, structures, vein information, visible gold (VG), sample intervals, and insertions of CRM, blanks, coarse duplicates, and newly implemented umpire samples.

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| 11-2 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

All drill core was cut on site by employees of Equinox and its predecessors, bagged, and transported directly by either Project staff or RNR Diamond Drilling, the drill contractor, to the Eastern Analytical laboratory for analyses.

At the laboratory, individual samples were prepared by drying, if necessary. The entire sample was crushed to a nominal minus 10 mesh (1.7 mm), riffle split to obtain a representative sample and pulverized to at least 95% minus 150 mesh (106 μm).

11.1.4 Analyses

Eastern Analytical analyzed each prepared sample for gold by fire assay. All samples that assayed greater than or equal to 300 ppb gold were subjected to a total pulp metallic sieve procedure. Samples within mineralized zones or containing visible gold less than 300 ppb were also reanalyzed using screen metallics. The analytical results were captured in an acQuire database, which is programmed to utilize the screen metallic values over the standard fire assays if data is available.

Eastern Analytical also analyzed select samples by multi-element inductively coupled plasma atomic emission spectroscopy (ICP-AES; ICP-34 package).

The fire assay, total pulp metallic sieve, and ICP-34 analytical procedures are described in the text that follows.

11.1.4.1 Fire Assay

Eastern Analytical used a 30 g crucible for rock and core samples, and a 20 g crucible for soil samples. Samples are analyzed in batches of 24, including one sample blank and one internal standard. Eastern Analytical performed lead collection fire assay with atomic absorption finish. The minimum limit of detection is less than 5 ppb Au.

11.1.4.2 Total Pulp Metallic Sieve

Eastern Analytical describes their metallic sieve procedure as follows:

&nbsp;&nbsp;&nbsp;&nbsp;· The entire sample (original pulp is approximately 250 g) was crushed to 80% passing -10 mesh and pulverized to 95% passing -150 mesh, prior to being sieved through a 150-mesh screen. The +150-mesh fraction was fire-assayed as a single sample.

&nbsp;&nbsp;&nbsp;&nbsp;· The -150-mesh fraction was rolled and weighed, with a 30 g sub-sample submitted for fire assay. The fire assay results for the +150 and -150 mesh fractions were combined to produce a weighted-average gold assay for the sample.

11.1.4.3 Inductively Coupled Plasma-34

Eastern Analytical describes their ICP-34 procedure as follows:

&nbsp;&nbsp;&nbsp;&nbsp;· Each analytical sample comprised 200 mg of -150 mesh sample pulp, which was placed in a test tube with nitric and hydrochloric acid prior to being heated on a hot plate.

&nbsp;&nbsp;&nbsp;&nbsp;· Samples were then cooled to room temperature, topped to volume with de-ionized water, stirred to homogenize, and left to settle for one hour prior to analysis by multi-element (n=34 elements) ICP.

&nbsp;&nbsp;&nbsp;&nbsp;· Samples were prepared and analysed in batches of 40, including two duplicates, one blank, and one standard.

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| 11-3 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

11.2 Quality Assurance and Quality Control

A QA/QC program has been implemented since the beginning of the exploration project in 2010, and protocols have been consistently monitored and improved to ensure high data confidence. QA/QC issues over the course of the Project include sample identification, analytical methods, and reporting; these issues have been identified and rectified in accordance with QA/QC protocols that have evolved alongside the Project.

Nepheline syenite sand, which is barren of gold, was used as the sample blank material until 2022 when Marathon Gold switched to a coarse blank using barren sections of drill core from the Valentine property. A variety of CRMs were incorporated throughout the Project's development and advancement, as summarized in Table 11-2.

#### Table 11-2: Summary of CRM Control Sample IDs used from 2010 to 2025

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|:---|:---|:---|:---|:---|:---|
| **CRM** | **Cert. Date** | **Finish** | **Expected Value (ppm)** | **2 SD (ppm)** | **Active Dates** |
| GS-3F | 20-Oct-2009 FA | 2011 | 3.100 | 0.120 | 2010, 2011 |
| GS-3H | 04-Jan-2011 FA | 2012 | 3.040 | 0.230 | 2011, 2012 |
| GS-3J | 17-Jun-2011 FA | 2014 | 2.710 | 0.260 | 2012–2014 |
| GS-3K | 27-Apr-2012 FA | 2015 | 3.190 | 0.260 | 2014, 2015 |
| GS-3L | 24-Jun-2013 FA | 2017 | 3.180 | 0.220 | 2015–2017 |
| GS-3Q | Jan, 2016 FA | 2018 | 3.300 | 0.260 | 2017, 2018 |
| GS-3T | 08-Jan-2018 FA | 2021 | 3.050 | 0.190 | 2018–2021 |
| GS-3U | 24-Jan-2020 FA | 2022 | 3.290 | 0.260 | 2021, 2022 |
| GS-5X | 30-Mar-2020 FA | 2024 | 5.040 | 0.330 | 2021–2024 |
| GS-4N | 25-Oct-2021 FA | 2024 | 3.880 | 0.271 | 2024 |
| GS-5Y | 19-May-2022 FA | 2024 | 5.210 | 0.310 | 2024 |
| GS-8A | 15-Jul-2009 FA | 2012 | 8.250 | 0.600 | 2010–2012 |
| GS-9A | 11-Oct-2011 FA | 2017 | 9.310 | 0.690 | 2012–2017 |
| GS-9B | 26-Apr-2016 FA | 2024 | 9.020 | 0.750 | 2017–2024 |
| GS-9D | 25-Sep-2019 FA | 2024 | 9.430 | 0.440 | 2024 |
| GS-P5C | 12-Aug-2014 FA | 2019 | 0.571 | 0.048 | 2016–2019 |
| GS-P5G | 25-Sep-2018 FA | 2021 | 0.562 | 0.054 | 2019–2021 |
| GS-P5H | 16-Nov-2020 FA | 2024 | 0.497 | 0.056 | 2021–2024 |
| GS-P2B | 24-Oct-2021 FA | 2024 | 0.433 | 0.220 | 2024 |
| OREAS-231b | 02-Dec-2024 FA | - | 0.556 | 0.017 | 2024–2025 |
| OREAS-240b | 02-Dec-2024 FA | - | 5.650 | 0.143 | 2025 |
| OREAS-242 | 29-Jun-2023 FA | - | 8.670 | 0.669 | 2025 |

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Notes: FA – fire assay, SD – standard deviation

Until 2021, a blank, CRM, or coarse duplicate sample was inserted at a rate of 1 in every 20 samples, with the first control sample in each hole placed as the 10th sample. The blank and CRM packets are placed in the core boxes by a geologist or geotechnician. In 2021, the QA/QC test sample insertion rate was increased to 1 in 10 (from 1 in 20), alternating between a blank and 1 of 3 CRMs. In addition, the on-site blank and CRM storage containers were placed in distinct and separate covered containers, each with a large, easily identifiable label to reduce the chances of CRM swaps. The geologist responsible for completing the sample tagging procedure prepared and placed the blank or CRM sample in the core box and wrote the CRM ID on the corresponding tag in the sample tag book. The insertion sequence was modified in 2024, after which the control samples were inserted at sample ID multiples of 10 (e.g., XXXXX10 = Blank, XXXXX20 = OREAS-231b).

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| 11-4 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

For each QA/QC sample, control charts are generated in acQuire to monitor contamination, analytical precision, and the accuracy of the analytical process. Warning limits are set at ±2 standard deviations (SD), and control limits are set at ±3 SD. Control samples that report outside limits are internally reviewed. A first-pass review identifies potential internal errors (e.g., mislabelled sample ID). The failed QA/QC sample is also identified in the placement of mineralization and the sequence of calculated intercepts. Intercepts are never disclosed if a failed control sample falls within a mineralized zone or as outliers on the ends of the mineralized zone. Any suspect analytical results are always re-assayed before public release or use for Mineral Resource estimation. Two in sequence cautionary control samples that both fail high or fail low are treated as a failed control sample.

11.2.1 Sample Blanks

Sample blanks are used to assess contamination during sample preparation, laboratory preparation, and to identify sample numbering errors. Until 2022, the blank material used was a nepheline syenite sand (sourced from SME Sandblasting Sales and Services, Mount Pearl, Newfoundland). Beginning in 2022, coarse blank material was selected from condemnation holes identified as having no mineralization or returning below the detection limit. A total of 6,409 fine blank samples were submitted to Eastern Analytical between January 2010 to December 2021, and 385 fine blank samples were submitted to SGS in 2021; 6,738 coarse blank samples were submitted to Eastern Analytical from January 2022 to December 2025.

Failed blank sample material was investigated to determine if values were greater than three times the lower detection limit, failing at a 15-ppb gold value up until 2021, at which time coarse blank material began being used, and the limit was increased to 10 times the lower detection limit, failing at a gold value of 25 ppb. It was also considered a failed control check if there were consecutive warnings on the upper limits. The control chart for coarse blank material gold analyses is presented in Figure 11-1, which shows 0.21% of the blanks analyzed yielded greater than 25 ppm gold.

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| 11-5 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 11-1: Control Chart of Coarse Blank Sample Material Au Assay Results, 2022–2025
The QP concludes that the QA/QC sample blank analytical results indicate minimal sample contamination during the preparation of the Equinox samples.

11.2.2 Certified Reference Material (CRM)

Results from certified reference materials (standards) are used to identify problems with specific sample batches and biases associated with the primary assay laboratory. Marathon Gold sourced CRMs from CDN Resource Laboratories (CDN) in Langley, British Columbia. The technique used to assay the material, expected values, number of analyses, and standard deviation of the analytical variance for each CRM is listed in Table 11-2 above. A summary of CRM performance on the Project is listed in Table 11-3. A control chart of the 2017 to 2024 analytical results of the CRM standard GS-9B versus the CRM mean, 2SD, and 3SD is presented in Figure 11-2.

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| 11-6 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 11-2: Control Chart for GS-9B from 2017 to 2024
CRM material was included in the sample stream at a rate of 1 in 20 from 2010 to 2020 and 1 in 10 from 2021 to 2025. Failure rates are defined as a gold value reporting more than 6SD from the expected value, or two consecutive gold values reporting more than two SD in the same direction from the expected value.

Most CRMs used since the start of the exploration program possess a low failure rate, with several exceptions. For example, GS-3F and GS-3J, used between 2010 and 2014, had failure rates of 7.5% and 6.7%, respectively. All failures returned a grade below the acceptable value. However, subsequent CRMs within a similar gold grade have a higher success rate. It is worth noting that these CRMs were amongst the least frequently submitted to Eastern Analytical for analysis. Additionally, a significant issue was noticed in late 2024 with the submission of GS-P2B. The assays returned from this CRM were significantly outside of the expected results, as shown in Figure 11-3. Laboratory submissions to Eastern Analytical, within 10 samples of each GS-P2B that originally returned greater than 2.5ppb, were rerun by Eastern Analytical with an OREAS CRM replacing the GS-P2B at the behest of Equinox. The exact cause of this inaccuracy was not determined. CDN Labs provided the opinion that the standard was performing as expected and that the analysing lab waws experiencing a high bias and potential contamination. CDN Labs also offered to investigate the potential for a mix-up in the shipping, however they did not provide an update and, as Equinox was intending on switching to OREAS CRMs regardless of the outcome, this was not followed up on. The remaining samples in 2024 after this issue was identified were submitted with OREAS 231b in place of GS-P2B.

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| 11-7 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 11-3: Summary of 2010–2025 CRM Performance at Eastern Analytical

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| | | | |
|:---|:---|:---|:---|
| **CRM** | **Expected Value (ppm)** | **Eastern Analytical** | **Eastern Analytical** |
| **CRM** | **Expected Value (ppm)** | **No. of Failures** | **No. of CRM samples** |
| GS-3F | 3.1 | 12 | 401 |
| GS-3H | 3.04 | 7 | 549 |
| GS-3J | 2.71 | 8 | 257 |
| GS-3K | 3.19 | 5 | 230 |
| GS-3L | 3.18 | 8 | 282 |
| GS-3Q | 3.3 | 11 | 855 |
| GS-3T | 3.05 | 8 | 1277 |
| GS-3U | 3.29 | 5 | 594 |
| GS-5X | 5.04 | 0 | 263 |
| GS-4N | 3.88 | 1 | 181 |
| GS-5Y | 5.21 | 4 | 249 |
| GS-8A | 8.25 | 1 | 742 |
| GS-9A | 9.31 | 10 | 904 |
| GS-9B | 9.02 | 10 | 2954 |
| GS-9D | 9.43 | 7 | 55 |
| GS-P5C | 0.571 | 3 | 1286 |
| GS-P5G | 0.562 | 4 | 968 |
| GS-P5H | 0.497 | 6 | 1133 |
| GS-P2B | 0.433 | 61 | 83\* |
| OREAS-231b | 0.556 | 23 | 1305 |
| OREAS-240b | 5.650 | 7 | 1090 |
| OREAS-242 | 8.670 | 0 | 1026 |
| **Total** |  | **178** | **13478** |
| \* all samples replaced by OREAS-231b | \* all samples replaced by OREAS-231b | \* all samples replaced by OREAS-231b | \* all samples replaced by OREAS-231b |

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| 11-8 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 11-3: Control Chart of Au Assay Results for CRM GS-P2B in 2024
A failed CRM standard sample is reviewed internally to determine whether the QA/QC sample is mislabeled. Occasionally, a blank or CRM has returned a value outside of the error limits but falls within a known value of another CRM or a blank. This is identified as an in-house error rather than a laboratory error. Between 2010 and 2025, Equinox assessed all CRM failures and identified 70 mislabeled CRM samples out of a total of 13,478 CRM sample inserts (or 0.5%). The misidentified CRM samples are flagged within the acQuire database. Accordingly, Equinox has reviewed its QA/QC CRM sample insert protocol and implemented changes to reduce the number of mislabeled CRM samples in future QA/QC work.

Until 2022, the CRMs used were purchased directly from CDN Resource Laboratories and divided into individual packets by Marathon Gold staff at the exploration camp (and at a site other than the core logging and sampling facility). In 2022, Marathon Gold switched to prepackaged CRMs from CDN Labs. In late 2024, the transition from CDN Labs CRMs to OREAS CRMs began; by the beginning of the 2025 drilling program, all inserted CRMs were from OREAS.

11.2.3 Duplicate and Umpire Sampling

Field duplicates were originally discussed in Murahwi (2017). During 2021, Marathon Gold reintroduced duplicate sample analyses into the QA/QC protocol.

In December 2021, a total of 140 identically sized, half-core duplicates were submitted to Eastern Analytical. The sample duplicates included 44, 46, and 50 sample duplicates from Leprechaun, Marathon, and Berry, respectively. The field duplicate samples were intended to assess the variability introduced by sampling the same interval and to evaluate field sample preparation and analytical precision. The samples were bagged separately with separate sample numbers.

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| 11-9 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 11-4: General Statistics of the 2021 Field Duplicate Program

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| | | |
|:---|:---|:---|
| | **Primary Sample** | **Duplicate Sample** |
| Mean (g/t Au) | 3.001 | 4.328 |
| Mean (capped to 30 g/t Au) | 2.958 | 3.129 |
| Mean (0.0-2.0 g/t limited range) | 0.656 (n=103) | 0.653 (n=104) |
| Median (g/t Au) | 0.767 | 0.750 |
| Upper Quantile (g/t Au) | 2.207 | 2.042 |
| Coefficient of Variation | 1.979 | 3.336 |
| Min Value (g/t Au) | 0.012 | 0.010 |
| Max Value (g/t Au) | 36.105 | 145.295 |
| Total Number of Samples | 140 | 140 |

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Table 11-4 summarizes the results of the 2021 field duplicate sampling program. A significant difference was seen in the means of the primary and duplicate samples over the full range, however when the grade was capped to 30 g/t Au, the means showed a much closer agreement. These differences were attributed to the coarse and nuggety gold.

A limited coarse reject duplicate program as a part of the larger 2021 Marathon Gold duplicate program, summarized in Table 11-5. For this program, 33 RC samples for which there were FA data were selected to undergo screen metallic analysis as detailed in Marathon Gold's 2021 QAQC (Wilson and Borysenko 2023). Agreement between primary and duplicate values were better at lower grade and increased in variance at higher grades.

#### Table 11-5: General Statistics of the 2021 Coarse Reject Duplicate Program

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| | | |
|:---|:---|:---|
| | **Primary Sample** | **Duplicate Sample** |
| Mean (g/t Au) | 1.421 | 1.074 |
| Mean (0.0-2.0 g/t Au limited range) | 0.481 (n=27) | 0.577 (n=29) |
| Median (g/t Au) | 0.441 | 0.584 |
| Upper Quantile (g/t Au) | 1.307 | 1.375 |
| Coefficient of Variation | 1.660 | 1.580 |
| Min Value (g/t Au) | 0.021 | 0.024 |
| Max Value (g/t Au) | 9.478 | 8.930 |
| Total Number of Samples | 33 | 33 |

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Same-lab (Eastern Analytical) and umpire (SGS) pulp duplicates were also analysed as a part of the 2021 duplicate program. The same-lab duplicates showed good replication across the grades, while the umpire duplicates showed a slightly higher grade in the primary value, though it was noted that the methodologies differed slightly between the labs, resulting in different sample weights being analysed.

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| 11-10 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Further discussion of the results of the 2021 duplicate program can be found in Marathon Gold's 2021 QAQC Report (Wilson and Borysenko, 2023).

A follow-up umpire duplicate program was conducted in 2022 to address the difference in sample weights between labs. Both labs processed 1000g of sample for screen metallics and the results show good alignment, with a slight bias toward Eastern at higher grade and toward SGS at lower grades. These differences were attributed to the nugget effect (Wilson 2025).

An ongoing field duplicate and umpire assaying program commenced in 2024, in which 5% of the total samples collected throughout the year were utilised for either field duplicate testing or umpire samples. A total of 800 samples were selected from the 2024 drilling program and split, with half tested at Eastern Analytical via fire assay and the other half tested at SGS via fire assay. The results of these umpire samples were within the expected margin of error for a coarse gold system and demonstrated no biases or issues with original samples run by Eastern Analytical

11.2.4 Sample Reanalyses

Equinox routinely analyzed QA/QC samples in real time against predefined acceptable limits. If the assay value falls outside of the control limits, the sample is reanalyzed.

Both the original and re-assayed analytical results are captured in the acQuire relational database, where the passing re-assay values are issued a priority validation number of "1". Values without a validation number of 1 are not permitted to be used in the Mineral Resource estimation process.

QA/QC failures are analyzed, reported, and rectified based on their sequential placement within the mineralization, number of failed QA/QC samples in a batch, number of failed QA/QC samples in sequence, values of failed results, and location of the drill hole.

11.3 Qualified Person Opinion

The QP has reviewed the sample preparation, analyses, and security and found no significant issues or inconsistencies to question the adequacy of the data. The QA/QC methods employed by Equinox, both historically and with additional protocols established in 2021, indicate that the analytical data have reasonable and acceptable levels of contamination, analytical precision, and accuracy. In the opinion of the QP, the geological and analytical data are sufficient for use within the resource modelling and estimations presented in this Technical Report.

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| 11-11 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

12.0 Data Verification

12.1 Introduction

Exploration data supporting the Mineral Resource estimate (MRE) have undergone extensive verification by both external and internal QPs. Verification work includes site inspections, drill hole database audits, QA/QC reviews, and independent analytical test work.

Data verification prior to the 2022 Technical Report relied partly on work completed by APEX as an external QP, while verification post-2022 has been completed by internal QPs from Equinox. The following sections summarize the verification completed for the 2022 and 2025 Mineral Resource estimates.

12.2 Database Validation – 2022 Mineral Resource Estimate

Independent and internal verification programs were completed to assess the accuracy, completeness, and reliability of the exploration data supporting the 2022 Mineral Resource estimate. These programs included external site inspections by APEX, internal QP reviews, drill hole database audits, and independent analytical test work. No material issues were identified that would affect the validity of the data used for resource modelling, as verified by the QPs.

12.2.1 External Verification by APEX

APEX conducted site inspections in 2017, 2019, and 2022, with the most recent visit focused on the Berry deposit. Verification activities included:

&nbsp;&nbsp;&nbsp;&nbsp;· Reviewing drill core from five Berry drill holes and collecting nine independent samples for fire assay confirmation.

&nbsp;&nbsp;&nbsp;&nbsp;· Independently verifying drill collar locations using handheld GPS measurements.

&nbsp;&nbsp;&nbsp;&nbsp;· Inspecting active workings, outcrops, and drilling patterns.

&nbsp;&nbsp;&nbsp;&nbsp;· Confirming property location, tenure, and geological interpretations.

Across all external inspections, no significant errors or inconsistencies were identified. The independent analytical results confirmed the presence and tenor of gold mineralization and supported the geological interpretations used for resource modelling.

12.2.2 Drill Hole Database Verification

BOYD and APEX independently audited the drill hole database and confirmed the following:

&nbsp;&nbsp;&nbsp;&nbsp;· No missing, overlapping, or duplicate intervals.

&nbsp;&nbsp;&nbsp;&nbsp;· Assay values matched original laboratory certificates.

&nbsp;&nbsp;&nbsp;&nbsp;· Survey data, collar coordinates, and property boundary checks were consistent.

&nbsp;&nbsp;&nbsp;&nbsp;· The Acquire database incorporated robust data integrity controls, including:

&nbsp;&nbsp;&nbsp;&nbsp;· Automated prevention of duplicate planned drill hole IDs.

&nbsp;&nbsp;&nbsp;&nbsp;· Mandatory fields, interval validation rules, and restrictions on invalid entries.

&nbsp;&nbsp;&nbsp;&nbsp;· Automated CRM insertion and structured assay approval workflows.

&nbsp;&nbsp;&nbsp;&nbsp;· Six-hour automated imports for downhole surveys and final collar coordinates, with automatic rejection of collar surveys deviating by more than 5 m from planned locations.

&nbsp;&nbsp;&nbsp;&nbsp;· Internal spot checks confirmed full adherence to these controls.

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| 12-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

12.2.3 Independent Analytical Test Work

Across three site visits, APEX collected 19 independent samples from drill core and outcrop. Samples were analyzed at ALS Canada using PREP-31D and Au-AA26/Au-GRA22 methods. Results confirmed the presence and tenor of gold mineralization:

&nbsp;&nbsp;&nbsp;&nbsp;· Marathon deposit samples ranged from 780 ppb to 51,000 ppb Au.

&nbsp;&nbsp;&nbsp;&nbsp;· Frank Zone outcrop samples included a high-grade 251,000 ppb Au result.

&nbsp;&nbsp;&nbsp;&nbsp;· Berry deposit samples returned the highest values, up to 701,000 ppb Au.

These results corroborate lithological logging, mineralization styles, and assay tenor.

12.2.4 Qualified Person's Conclusion-2022 Mineral Resource Estimate

The QPs responsible for the previous 2022 Mineral Resource estimate concluded that the exploration data including drilling, lithological logs, and assay results were adequate, reliable, and appropriate for use in resource modelling and mineral resource estimation. No material issues were identified that would have adversely affected the 2022 Mineral Resource estimate.

For the 2025 Mineral Resource estimate, Niel de Bruin P.Geo. has reviewed the work completed by previous QPs and confirmed that the drill hole database remains validated, verified and suitable for use in the current MRE.

12.3 Database Validation – 2025 Mineral Resource Estimate

Database validation for the 2025 Mineral Resource estimate was completed by internal QPs, Nic Capps, P.Geo. and Niel de Bruin, P.Geo., to confirm ongoing site activity, geological interpretations, and the integrity of the drill hole database. Nic Capps, who has more than 15 years of continuous involvement with the Valentine Project, conducted ongoing verification through routine core logging, collar checks, and reviews of geological interpretation. Niel de Bruin is also the responsible QP for the 2025 Mineral Resource estimate.

12.3.1 Internal Qualified Persons Site Inspections

Formal site visits were completed by Niel de Bruin from October 14 to 18, 2025, and by Nic Capps from October 14 to 20, 2025. The inspections included:

&nbsp;&nbsp;&nbsp;&nbsp;· Core logging, database management, resource modelling, drill hole planning, program execution, and assay review.

&nbsp;&nbsp;&nbsp;&nbsp;· Review of QA/QC protocols described in Chapter 11.

&nbsp;&nbsp;&nbsp;&nbsp;· Verification of drill collar locations and review of active drilling.

&nbsp;&nbsp;&nbsp;&nbsp;· Inspection of drill core from the Leprechaun, Berry, Marathon, and Frank Zone deposits.

&nbsp;&nbsp;&nbsp;&nbsp;· Examination of pit walls to compare exposed geology with the geological and resource models.

&nbsp;&nbsp;&nbsp;&nbsp;· Review of trench and outcrop exposures to confirm vein orientations, dyke geometries, VLSZ orientation, and mineralization styles.

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| 12-2 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

No discrepancies were identified in drill core, collar locations, geological interpretations, mineralization characteristics, resource models, or database records.

12.3.2 Database Validation

12.3.2.1 Acquire Validation and Integrity Tools

The Acquire database incorporates a comprehensive suite of validation rules, automated checks, and controlled workflows to ensure data accuracy, traceability, and compliance with industry best practices. QPs reviewed and confirmed the effectiveness of the following controls:

Planned collar files are uploaded to a designated server directory for controlled import. During import, the system automatically checks whether a planned drill hole ID already exists in the database. Any duplicate IDs, along with their associated planned collar surveys, are excluded from import to prevent unintended duplication.

The controlled editing of planned holes includes minor modifications to planned drill holes that may be made in the Acquire database by a restricted group of authorized geologists. All edits are fully auditable, with the database recording the username, date, and description of each modification.

Multiple data integrity checks are enforced during geological logging. Overlapping intervals are permitted only for alteration, density, structures, and veining. Mandatory fields must be completed before records can be saved, and conditional fields must be completed when supporting data is entered. Interval entries that extend beyond the end-of-hole depth are automatically rejected.

Sampling procedures restrict interval lengths to between 0.3 m and 1.5 m. Sample IDs are automatically incremented and constrained to a defined character format to reduce the risk of transcription errors. Certified Reference Materials (CRMs) are inserted at prescribed intervals and triggered automatically based on sample ID suffixes, minimizing the likelihood of missed QA/QC insertions.

A collar review table provides a real-time status summary for each drill hole, including confirmation of best-available collar coordinates, presence of downhole survey data, availability of final surveyed coordinates, and completion of RMR, lithology, and sampling to end-of-hole. A gap-finding tool scans all geological and sampling tables to identify missing intervals, which are reviewed and corrected promptly by the database geologist.

Downhole survey data are reviewed by geologists before being placed in the designated import folder. An automated importer runs every six hours to load approved surveys into the database.

Final surveyed collar coordinates are uploaded to a designated folder and automatically imported every 6 hours. A validation rule rejects any collar survey whose final coordinates differ from the planned collar location by more than 5 m. Rejected surveys are flagged for field verification and resurvey if required.

Fire assay certificates are imported as pending results, with an initial visual check to confirm that imported values match the certificate. All assay data require a geologist to review QA/QC performance in Arena prior to approval and release to database tables and exports. Accepted results are manually approved; rejected results are flagged. The same procedures apply to all re-assay and re-run certificates.

An independent review by Mr. Niel de Bruin was completed to compare original assay certificates with the database. No issues or concerns were identified.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

These controls were found to be appropriate, consistently applied, and effective in maintaining database integrity.

12.4 Qualified Persons' Review and Conclusion on Database Verification

The QPs, Nic Capps and Niel de Bruin, reviewed the database validation procedures supporting the 2025 Mineral Resource estimate, including automated data-entry controls, manual verification checks, QA/QC workflows, and results from independent third-party reviews. Based on this assessment, the QPs conclude the following:

&nbsp;&nbsp;&nbsp;&nbsp;· The drill hole database is complete, internally consistent, and free of material errors.

&nbsp;&nbsp;&nbsp;&nbsp;· Validation procedures meet or exceed industry best practices for gold exploration and resource modelling.

&nbsp;&nbsp;&nbsp;&nbsp;· The database is fit for purpose and suitable for use in the 2025 Mineral Resource estimate.

&nbsp;&nbsp;&nbsp;&nbsp;· No deficiencies were identified that would materially impact the mineral resource estimates.

The QP responsible for the 2025 Mineral Resource estimate is of the opinion that database verification procedures implemented for the Project comply with industry standards and that the database is adequate and appropriate for Mineral Resource estimation. This conclusion is supported by both independent verification and extensive internal QP review.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

13.0 Mineral Processing and Metallurgical Testing

Significant metallurgical test work has been completed on mineralized ore samples from the Leprechaun, Marathon and Berry deposits. Metallurgical test work was completed during various test work campaigns from 2010 to 2024 at various metallurgical laboratories. The overall objectives of the various test work programs were to define the metallurgical response of the main ore domains and deposits, generate sufficient metallurgical data to support a flowsheet and develop gold recoveries for project development and the ultimate design of the current process plant. The general scope of the test work campaigns included chemical and mineralogical analyses, comminution tests, gravity recovery, cyanide leaching, detoxification, carbon loading, oxygen uptake evaluations, and dewatering tests (including flocculant selection, static settling, and dynamic thickening tests).

Metallurgical test work also included flotation and leaching of flotation concentrate and tailings for the plant expansion as documented in previous NI 43-101 Technical Reports such as the 2022 Technical Report and Pre-feasibility Study on the Valentine Gold Project, dated April 21, 2020.

Following recent trade off studies, the current plant expansion has reverted to expanding the existing comminution and gravity-leach-CIL circuits and not to implement a flotation circuit. Historical test work used for the initial plant design remains relevant for the plant expansion. Relevant metallurgical test work related to the current flowsheet is summarized and discussed in this section.

Historical test work campaigns and reports are listed in Table 13-1 for reference.

#### Table 13-1: Historical Test Work

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| | | |
|:---|:---|:---|
| **Year** | **Laboratory** | **Test Work Performed** |
| 2010 | G&T Metallurgical Services KM2578 | Preliminary flowsheet development – Marathon ore characterization; gravity and cyanide leach extraction; gravity, sulphide flotation and cyanide extraction; ore hardness |
| 2012 | G&T Metallurgical Services KM3028 | Preliminary flowsheet development – Leprechaun ore characterization; gravity and cyanide leach extraction; gravity, sulphide flotation and cyanide extraction; ore hardness |
| 2015 | Thibault & Associates 6536 Phase I | Leprechaun master composite – gravity and grind size sensitivity; gravity leach and gravity-float-leach |
| 2017 | Thibault & Associates 6536 Phase II | Leprechaun and Marathon ore – grade and grind size variability; gravity-leach, gravity-float-leach, and heap leach |
| 2019 | SGS-Lakefield 16863 | Comminution, gravity-flotation-regrind-leach, gravity-leach, heap leach, cyanide destruction, solid-liquid separation |
| 2019 | Outotec 324217 | Solid-liquid separation – dynamic settling and filtration |
| 2019 | FLSmidth Rev 4 | Gravity recoverable gold modelling |
| 2021 | Base Metallurgical Laboratories BL639 | Comminution, gravity-flotation-regrind-leach, gravity-leach, cyanide destruction, solid-liquid separation |
| 2022 | Base Metallurgical Laboratories BL1021 | Comminution, gravity-flotation-regrind-leach, gravity-leach, cyanide destruction, solid-liquid separation |
| 2023 | SGS-Lakefield 19047 | Intensive cyanide leach of gravity concentrates, gravity-leach, cyanide destruction, oxygen uptake, carbon modelling |
| 2023 | Base Metallurgical Laboratories BL1020 | Flotation of gravity tails, leaching of flotation concentrate and tails |
| 2024 | Base Metallurgical Laboratories BL1714 | Pre-aeration, cyanide destruction |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

13.1 2019 Metallurgical Test Work Program

13.1.1 Sample Selection

Drill core consisting of half-split NQ core from the Marathon deposit was delivered to SGS Lakefield in September 2018. In October 2018, half-split NQ core from the Leprechaun deposit was delivered to SGS.

To test representative ore samples, zone composites were selected based on spatial zone, head grade, and lithology for the metallurgical test work campaign. Deposit composites were combined for metallurgical flowsheet development using a combination of zone composite samples, as presented in Table 13-2. Overall, composites (M-Dep and L-Dep) were produced from the remaining zone and deposit composites to generate a sample for the operation of a small-scale flotation pilot plant, which was then used for downstream testing.

#### Table 13-2: Sample Composition for Metallurgical Test Work

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|:---|:---|:---|:---|:---|
| **Composite** | **Resource** | **Name** | **Comprised** | **Tested for** |
| Zone composites | Marathon | MZA, B, C,D,E | Select drill intervals by zone, grade & lithology | Chemical head analysis, comminution, pre-robbing evaluation |
| Zone composites | Leprechaun | LZA, B, C, D, E | Select drill intervals by zone, grade & lithology | Chemical head analysis, comminution, pre-robbing evaluation |
| Deposit composites | Marathon | MC1 | 50:50 MZA, B | Gravity-float-leach flowsheet development |
| Deposit composites | Marathon | MC2 | MZC | Gravity-float-leach flowsheet development |
| Deposit composites | Marathon | MC3 | 50:50 MZD, E | Gravity-float-leach flowsheet development |
| Deposit composites | Leprechaun | LC1 | 54:32:14<br>LZA, LZB, LZC<br>| Gravity-float-leach flowsheet development |
| Deposit composites | Leprechaun | LC2 | 15:43:42<br>LZC, LZD, LZE<br>| Gravity-float-leach flowsheet development |
| Overall composite | Marathon | M-Dep | MZA-E, MC1, MC2, MC3 | Flotation mini pilot plant run to generate sample for downstream testing |
| Overall composite | Leprechaun | L-Dep | LZA-E, LC1, LC2 | Flotation mini pilot plant run to generate sample for downstream testing |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

13.1.2 Head Analysis

Zone composites were submitted to characterize the sample by a full suite of assays which included:

&nbsp;&nbsp;&nbsp;&nbsp;· Au by screen metallic

&nbsp;&nbsp;&nbsp;&nbsp;· Cu, As, Hg by direct assay

&nbsp;&nbsp;&nbsp;&nbsp;· Sulphur (total, sulphide sulphur S2-)

&nbsp;&nbsp;&nbsp;&nbsp;· Carbon (C organic, C graphitic, CO2)

&nbsp;&nbsp;&nbsp;&nbsp;· ICP scan for 18 elements

Key assays for the composites tested are shown in Table 13-3. Observations from the head assay results are listed:

&nbsp;&nbsp;&nbsp;&nbsp;· The samples tested had gold assays ranging from 1.98 g/t to 5.18 g/t.

&nbsp;&nbsp;&nbsp;&nbsp;· All samples had low (i.e., less than 0.8 g/t) silver grade.

&nbsp;&nbsp;&nbsp;&nbsp;· All samples assayed low levels of Cu, Zn, and Ni, which contribute to cyanide consumption.

&nbsp;&nbsp;&nbsp;&nbsp;· Almost all the sulphur occurs as sulphides.

&nbsp;&nbsp;&nbsp;&nbsp;· All samples had low levels of graphitic and organic carbon, indicating low potential of preg-robbing.

&nbsp;&nbsp;&nbsp;&nbsp;· All samples showed below detection limit (i.e., lower than 0.3 g/t) mercury.

&nbsp;&nbsp;&nbsp;&nbsp;· Tellurium occurred in a few samples greater than the detection limit.

#### Table 13-3: Summary of Head Assays

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| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Element** | **Unit** | **MZA** | **MZB** | **MZC** | **MZD** | **MZE** | **LZA** | **LZB** | **LZC** | **LZD** | **LZE** |
| Au | g/t | 2.89 | 4.08 | 3.25 | 1.98 | 3.94 | 2.68 | 2.62 | 5.18 | 3.82 | 2.75 |
| Ag | g/t | <0.8 | <0.8 | <0.8 | <0.8 | <0.8 | <0.8 | <0.8 | <0.8 | <0.8 | <0.8 |
| Cu | % | <0.01 | <0.01 | <0.01 | <0.01 | <0.01 | <0.01 | <0.01 | <0.01 | <0.01 | <0.01 |
| Zn | g/t | 16 | 13 | 15 | 14 | 11 | 26 | 44 | 44 | 35 | 26 |
| Pb | g/t | <20 | <20 | <20 | <20 | <20 | <40 | <40 | <40 | <40 | <40 |
| Ni | g/t | 11 | <6 | <6 | <6 | <6 | <10 | <10 | <10 | <10 | <10 |
| As | g/t | <10 | <10 | <10 | <10 | <10 | <10 | <10 | <10 | <10 | <10 |
| Sb | g/t | <30 | <30 | <30 | <30 | <30 | <10 | <10 | <10 | <10 | <10 |
| Hg | g/t | <0.3 | <0.3 | <0.3 | <0.3 | <0.3 | <0.3 | <0.3 | <0.3 | <0.3 | <0.3 |
| Cg | % | <0.05 | <0.05 | <0.05 | <0.05 | <0.05 | <0.05 | <0.05 | <0.05 | <0.05 | <0.05 |
| C (org) | % | 0.06 | <0.05 | <0.05 | <0.05 | <0.05 | <0.05 | <0.05 | <0.05 | <0.05 | <0.05 |
| CO2 | % | 1.81 | 1.52 | 1.46 | 1.24 | 1.49 | 2.98 | 2.44 | 5.12 | 3.47 | 3.09 |
| St | % | 0.68 | 0.68 | 0.79 | 0.70 | 0.51 | 0.30 | 0.28 | 0.43 | 0.34 | 0.36 |
| S2- | % | 0.68 | 0.60 | 0.74 | 0.64 | 0.47 | 0.28 | 0.25 | 0.37 | 0.34 | 0.33 |
| Te | g/t | 3 | 2 | 3 | 3 | 8 | 3 | 6 | 2 | 3 | 2 |

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| 13-3 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

13.1.3 Mineralogy

Zone composites MZA-E and LZA-E were combined in equal parts to produce an MZ mineralogy composite and LZ mineralogy composite. Each mineralogy composite underwent QEMSCAN (quantitative evaluation of minerals by scanning electron microscopy) rapid mineral scan to identify the composition of minerals, as listed in Table 13-4.

Both composites are characterized by pyrite/marcasite sulphide mineralization. In both instances over 81% of the pyrite/marcasite mineral is free, with 10.5% liberated for MZ and 2.6% liberated for LZ. A complex association was observed at 4% to 7% in MZ and LZ, respectively, with minor contributions from quartz, feldspars, and micas.

The presence of tourmaline is consistent with the geological characterization of both Marathon and Leprechaun mineralization, where gold is commonly observed as interstitial grains within QTP veins.

#### Table 13-4: Mineral Proportions

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| | | |
|:---|:---|:---|
| **Mineral Mass Percentage** | **MZ Composite** | **LZ Composite** |
| Pyrite / marcasite | 1.03 | 0.32 |
| Chalcopyrite | 0.01 | - |
| Other sulphides | 0.00 | 0.01 |
| Quartz | 44.3 | 22.9 |
| Plagioclase | 37.8 | 50.2 |
| Sericite / muscovite | 5.87 | 10.4 |
| Chlorite | 4.67 | 3.93 |
| Clays | 0.69 | 0.89 |
| Tourmaline | 0.69 | 1.86 |
| Other silicates | 0.18 | 0.50 |
| Fe-oxides | 0.41 | 0.09 |
| Other oxides | 0.37 | - |
| Rutile | - | 0.64 |
| Calcite | 3.36 | 5.04 |
| Dolomite/ankerite | 0.38 | 2.76 |
| Apatite | 0.05 | 0.39 |
| Other | 0.22 | 0.03 |
| **Total** | **100** | **100** |

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13.1.4 Comminution

The objective of the comminution testing was to characterize the ore competency and hardness/grindability of ore from both deposits.

Testing of half-NQ crushed material comprised SAG power index (SPI), crushing index (CI), Bond crushing work index (CWi), Bond rod mill (RWi) and Bond ball mill (BWi) work index tests and abrasion index (Ai). A single drop weight test (DWT) and a single SMC test were also performed.

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| 13-4 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Bond rod mill tests were conducted using a 1,180 μm closing screen size; Bond ball mill tests were conducted using a 106 μm closing screen size. Table 13-5 summarizes select results for the comminution tests.

Observations from the comminution testing are listed:

&nbsp;&nbsp;&nbsp;&nbsp;· Abrasion indices are considered moderately high and are similar across both deposits, ranging from 0.51 to 0.63.

&nbsp;&nbsp;&nbsp;&nbsp;· Leprechaun ore has a higher average Ci and CWi than Marathon samples.

&nbsp;&nbsp;&nbsp;&nbsp;· Ore hardness in terms of RWi and BWi is similar for both deposits and is considered moderate.

&nbsp;&nbsp;&nbsp;&nbsp;· Ore competency, as indicated by SPI, is considered high. The average SPI is similar for both deposits, with Leprechaun showing higher variability.

&nbsp;&nbsp;&nbsp;&nbsp;· Ore competency, as indicated by a single drop weight test, is considered moderate.

#### Table 13-5: Summary of Comminution Test Results

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Sample ID** | **Grade (g/t)** | **Ai<br> (g)** | **RWi <br> (kWh/t)** | **BWi<br> (kWh/t)** | **SPI <br> (minutes)** | **Axb (SMC)** |
| MZA | 2.89 | - | 14.5 | 15.3 | 111.8 | - |
| MZB | 4.08 | 0.63 | 14.3 | 15.7 | 95.5 | - |
| MZC | 3.25 | 0.53 | 13.5 | 15.6 | 88.6 | - |
| MZD | 1.98 | 0.57 | 12.6 | 15.1 | 83.2 | - |
| MZE | 3.94 | - | 13.3 | 15.5 | 85.5 | - |
| Sample 01 | 0.43 | - | - | - | - | - |
| Sample 04 | 0.66 | - | - | - | - | - |
| Sample 08 | 0.53 | - | - | - | - | - |
| Sample 10 | 1.29 | - | - | - | - | - |
| LZA | 2.68 | - | 14.6 | 16.0 | 111.1 | - |
| LZB | 2.62 | 0.60 | 13.4 | 16.4 | 88.3 | - |
| LZC | 5.18 | 0.56 | 14.3 | 15.6 | 103.0 | - |
| LZD | 3.82 | 0.51 | 14.7 | 15.7 | 121.0 | - |
| LZE | 2.75 | - | 14.9 | 16.0 | 114.7 | - |
| Sample 20 | 0.13 | - | 12.0 | 16.4 | 69.7 | - |
| Sample 15 | 2.85 | - | - | - | - | - |
| Sample 16 | 0.99 | - | - | - | - | - |
| Sample 18 | 0.78 | - | - | - | - | - |
| Sample 19 | 0.17 | - | - | - | - | - |
| Sample 20 | - | - | - | - | - | 42.0 |

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| 13-5 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

13.1.5 Gravity

Most metallurgical tests included gravity concentration as part of the process and flowsheet development. The procedure generally included grinding the ore to the target grind size, a single pass through a Knelson laboratory concentrator, and then upgrading to a low-mass gravity concentrate on a Mozley mineral separator. Mass recovery was targeted at 0.03% to 0.05% w/w to replicate plant practice. A summary of the batch gravity separation results is presented in Table 13-6.

Observations from batch gravity tests are listed:

&nbsp;&nbsp;&nbsp;&nbsp;· The ore is considered amenable to recovery by gravity concentration.

&nbsp;&nbsp;&nbsp;&nbsp;· No gravity recovery relationship with grind size was observed.

&nbsp;&nbsp;&nbsp;&nbsp;· The resultant mass pull was variable, ranging from 0.02% w/w to 0.17% w/w.

&nbsp;&nbsp;&nbsp;&nbsp;· The 2 kg samples proved more difficult to attain the target mass pull and were generally high.

&nbsp;&nbsp;&nbsp;&nbsp;· Gravity recovery ranged from 34% to 67%. Average gravity recovery was 51%. This was not weighted for mass pull, test mass, or grade.

Extended gravity recoverable gold (e-GRG) tests were conducted on Leprechaun and Marathon samples to determine the maximum gravity recoverable gold, as presented in Table 13-7.

Subsequent modelling of the e-GRG tests was conducted for sizing of the concentrator circuit, as per Table 13-8. Gravity circuit modelling considers grind size, cyclone classification, gravity concentration equipment, and mass feed rate to the concentrator. Higher gravity recoverable gold is predicted at the finer grind size.

#### Table 13-6: Batch Gravity Separation Results

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| | | | |
|:---|:---|:---|:---|
| **Composite** | **Gravity Test** | **Conc Mass %** | **Au Gravity Rec%** |
| MC1 | G13 | 0.03 | 52 |
| MC1 | G1 | 0.03 | 40 |
| MC1 | G8 | 0.17 | 54 |
| MC2 | G14 | 0.04 | 45 |
| MC2 | G2 | 0.03 | 52 |
| MC3 | G3 | 0.03 | 43 |
| MC3 | G9 | 0.14 | 48 |
| M-Dep | G10 | 0.16 | 50 |
| M-Dep | G17 | 0.02 | 34 |
| M-Dep | G6 | 0.07 | 54 |
| LC1 | G4 | 0.02 | 67 |
| LC1 | G15 | 0.03 | 48 |
| LC2 | G5 | 0.03 | 55 |
| LZD+LZD | G11 | 0.10 | 48 |
| L-Dep | G18 | 0.03 | 53 |
| L-Dep | G12 | 0.07 | 49 |
| L-Dep | G20 | 0.09 | 54 |
| L-Dep | G21 | 0.08 | 57 |
| L-Dep | G7 | 0.06 | 63 |

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| 13-6 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 13-7: E-GRG Test Results

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Sample** | **Feed Size, P<sub>80</sub>** | **% Au Distribution** | **Sample** | **Feed Size, P<sub>80</sub>** | **% Au Distribution** |
| Marathon M-Dep | 620 | 42.5 | Leprechaun L-Dep | 579 | 48.0 |
| Marathon M-Dep | 232 | 14.8 | Leprechaun L-Dep | 214 | 20.6 |
| Marathon M-Dep | 137 | 7.4 | Leprechaun L-Dep | 83 | 8.9 |
| Marathon M-Dep | Tail | 35.3 | Leprechaun L-Dep | Tail | 21.8 |
| E-GRG | E-GRG | 64.7 | E-GRG | E-GRG | 77.5 |
| Est. Plant Recovery | Est. Plant Recovery | 45.0 | Est. Plant Recovery | Est. Plant Recovery | 54.0 |

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#### Table 13-8: Gravity Circuit Modelling Results at P<sub>80</sub> 75 and 150 μm Grind

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| | | | | |
|:---|:---|:---|:---|:---|
| **Sample ID** | **Grade (g/t)** | **Grind Size P<sub>80</sub>** | **E-GRG%** | **Modelled Gravity Rec%** |
| Marathon | 2.70 | 150 | 63 | 47 |
| Marathon | 2.70 | 75 | 73 | 49 |
| Leprechaun | 2.87 | 150 | 58 | 42 |
| Leprechaun | 2.87 | 75 | 72 | 56 |

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13.1.6 Gravity-Leach Flowsheet Tests

A series of gravity tails cyanide leach tests at primary grind size P<sub>80</sub> of 68 to 81 μm was conducted with a dissolved oxygen level of 8 ppm (air sparging), pH 10.5, and without pre-aeration. Cyanide consumption ranged from 0.2 to 0.8 kg/t. Each test was conducted for 48 hours in the presence of carbon. The leach extraction was downgraded by 1% to account for plant losses, as shown in Table 13-9.

#### Table 13-9: Cyanide Leach Tests used for Gravity - Leach Flowsheet

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| | | | | |
|:---|:---|:---|:---|:---|
| **Sample** | **Calc Head Grade Au (g/t)** | **Gravity Au Rec (%)** | **Gravity Tail Leach Au Extraction (%)** | **Total Extraction Au (%)** |
| Marathon G8 | 1.12 | 54 | 77.7 | 89.8 |
| Marathon G9 | 2.60 | 48 | 82.7 | 91.0 |
| Marathon G10 | 1.24 | 50 | 80.3 | 90.3 |
| Leprechaun G11 | 1.19 | 48 | 78.5 | 88.8 |

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| 13-7 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

13.2 2022 Metallurgical Test Work Program

13.2.1 Sample Selection

Twenty-three Berry variability samples, consisting of half NQ core and eleven comminution samples, consisting of half HQ core, were retrieved from storage in Newfoundland and delivered to BaseMet in May 2022. The NQ material came from drilling campaigns in 2015, 2019, 2020, and 2022 and the HQ core from the 2020 and 2021 drilling campaigns.

The samples were selected to represent the Berry deposit geographically along the strike of the deposit. Selection criteria included the need to approximate the planned mine grade, a minimum 10 m interval, and samples within the indicated pit shell. Samples were kept separately to allow determination of variability. Drill hole locations are provided in Figure 13-1. An area of the Berry deposit with very limited quartz-tourmaline-pyrite (QTP) mineralization (yellow areas in Figure 13-1) was not sampled. Table 13-10 summarizes NQ core sample information and Table 13-11 summarizes HQ core sample data.

#### Figure 13-1: Berry Sample Locations
Source: Marathon Gold. 2022.

Table 13-10 summarizes NQ core sample information and Table 13-11 summarizes HQ core sample data.

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| 13-8 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 13-10: Samples Used for Metallurgical Test Work – NQ ½ Core

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| | | | | |
|:---|:---|:---|:---|:---|
| **Sample ID** | **Hole ID** | **From (m)** | **To (m)** | **Mass (kg)** |
| Var-1 | VL-15-612 | 21 | 32 | 23.3 |
| Var-2 | VL-19-776 | 81 | 96 | 29.5 |
| Var-3 | VL-19-783 | 26 | 36 | 23.5 |
| Var-4 | VL-20-804 | 221 | 231 | 21.0 |
| Var-5 | VL-20-818 | 87 | 99 | 27.0 |
| Var-6 | VL-20-835 | 104 | 114 | 22.5 |
| Var-7 | VL-20-835 | 164 | 174 | 20.9 |
| Var-8 | VL-20-843 | 61 | 71 | 21.9 |
| Var-9 | VL-20-871 | 18 | 28 | 19.1 |
| Var-10 | VL-20-876 | 134 | 144 | 22.5 |
| Var-11 | VL-20-882 | 37 | 47 | 22.4 |
| Var-12 | VL-20-890 | 125 | 135 | 23.4 |
| Var-13 | VL-20-922 | 68 | 78 | 22.0 |
| Var-14 | VL-20-926 | 66 | 76 | 21.7 |
| Var-15 | VL-20-929 | 79 | 89 | 21.4 |
| Var-16 | VL-20-933 | 128 | 138 | 23.8 |
| Var-17 | VL-20-958 | 185 | 195 | 21.4 |
| Var-18 | VL-20-988 | 51 | 61 | 21.0 |
| Var-19 | VL-20-1072 | 11 | 21 | 21.7 |
| Var-20 | VL-20-1090 | 8 | 18 | 21.9 |
| Var-21 | VL-20-1110 | 130 | 142 | 23.3 |
| Var-22 | VL-21-1148 | 70 | 80 | 20.6 |
| Var-23 | VL-20-797 | 131 | 141 | 23.1 |

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#### Table 13-11: Samples Used for Comminution Test Work – HQ Core

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| | | | | |
|:---|:---|:---|:---|:---|
| **Sample ID** | **Hole ID** | **From (m)** | **To (m)** | **Mass (kg)** |
| CCOM-1 | VL-20-839 | 11 | 27 | 34.7 |
| CCOM-2 | VL-20-873 | 10 | 26 | 36.6 |
| CCOM-3 | VL-20-908 | 46 | 62 | 35.3 |
| CCOM-4 | VL-20-916 | 47 | 63 | 36.5 |
| CCOM-5 | VL-20-946 | 31 | 47 | 32.4 |
| CCOM-6 | VL-21-975 | 13 | 29 | 37.8 |
| CCOM-7 | VL-21-993 | 9 | 25 | 35.8 |
| CCOM-8 | VL-21-1057 | 16 | 32 | 42.0 |
| CCOM-9 | VL-21-1068 | 41 | 57 | 39.2 |
| CCOM-10 | VL-21-1081 | 57 | 73 | 35.8 |
| CCOM-11 | VL-21-1170 | 44 | 59 | 32.9 |

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| 13-9 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

A 340 kg Berry composite sample was prepared by combining 10 kg sub-samples from each of the 23 variability samples and 11 comminution samples. This sample was processed through grinding, gravity separation, flotation, and cyanide leaching of the gravity and flotation concentrates and the flotation tailings. A portion of the flotation concentrate was sent to SGS Lakefield for fine grinding test work in a HIGmill. After processing through the proposed steps, the Berry composite tailings were used for cyanide destruction test work and thickening tests on the treated tailings. Flotation products were also tested for thickening properties.

13.2.2 Head Analysis

Berry metallurgical and comminution variability samples were submitted for the following suite of assays:

&nbsp;&nbsp;&nbsp;&nbsp;· Gold by direct fire assay on all samples and by screen metallic method (SM) at 106 µm on the metallurgical samples

&nbsp;&nbsp;&nbsp;&nbsp;· Silver and mercury by direct assay

&nbsp;&nbsp;&nbsp;&nbsp;· Sulphur (total (S), sulphate (SO<sub>4</sub>), sulphide (SO<sub>2</sub>))

&nbsp;&nbsp;&nbsp;&nbsp;· Carbon (total (C) and total organic carbon (TOC))

&nbsp;&nbsp;&nbsp;&nbsp;· ICP for minor metals.

Key assays for the samples tested are presented in Table 13-12, Table 13-13, and Table 13-14. Observations from the zone composite head assay results are provided below:

&nbsp;&nbsp;&nbsp;&nbsp;· The samples tested had gold assays ranging from 0.3 g/t to 6.3 g/t.

&nbsp;&nbsp;&nbsp;&nbsp;· All but one sample had silver grades of less than 1 g/t.

&nbsp;&nbsp;&nbsp;&nbsp;· Almost all sulphur occurs as sulphides.

&nbsp;&nbsp;&nbsp;&nbsp;· Total sulphur ranged from 0.1 to 1.6% and averaged 0.6%.

&nbsp;&nbsp;&nbsp;&nbsp;· All samples had low levels of total organic carbon (TOC).

&nbsp;&nbsp;&nbsp;&nbsp;· Mercury was measured in ppb (mg/t); all samples showed low levels (i.e., less than 5 µg/t (ppb)) of mercury.

&nbsp;&nbsp;&nbsp;&nbsp;· Tellurium (Te) occurred in all samples, ranging from 1 to 16 g/t.

&nbsp;&nbsp;&nbsp;&nbsp;· Arsenic (As), copper (Cu), and zinc (Zn) averaged 3 g/t, 26 g/t, and 38 g/t, respectively.

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| 13-10 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 13-12: Head Assays – Berry Metallurgical Sample

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sample** | **Assays** | **Assays** | **Assays** | **Assays** | **Assays** | **Assays** | **Assays** | **Assays** | **Assays** |
| **Sample** | **Au<br> (g/t)** | **Au SM<br> (g/t)** | **Ag<br> (g/t)** | **S<br> (%)** | **SO<sub>4</sub><br> (%)** | **S<sub>2</sub>-<br> (%)** | **C<br> (%)** | **TOC<br> (%)** | **Hg<br> (ppb)** |
| **Method** | **FAAS** | **FAAS** | **FAAS** | **LECO** | **GRAV** | **GRAV** | **LECO** | **LECO** | **CV** |
| Var-1 | 1.68 | 1.74 | 0.9 | 1.45 | 0.01 | 1.44 | 0.4 | 0.01 | <5 |
| Var-2 | 7.74 | 6.10 | 0.2 | 0.5 | 0.01 | 0.49 | 0.78 | <0.01 | <5 |
| Var-3 | 0.31 | 0.63 | <0.1 | 0.87 | 0.02 | 0.85 | 0.28 | 0.01 | <5 |
| Var-4 | 2.59 | 1.08 | <0.1 | 0.75 | 0.04 | 0.71 | 0.37 | 0.01 | <5 |
| Var-5 | 0.22 | 0.74 | <0.1 | 0.17 | 0.02 | 0.15 | 0.57 | 0.01 | <5 |
| Var-6 | 1.30 | 1.84 | <0.1 | 0.69 | 0.02 | 0.66 | 0.46 | 0.01 | <5 |
| Var-7 | 29.40 | 4.60 | 0.7 | 0.64 | 0.02 | 0.62 | 0.43 | 0.01 | <5 |
| Var-8 | 0.52 | 0.56 | 0.2 | 0.44 | <0.01 | 0.46 | 0.33 | 0.01 | <5 |
| Var-9 | 1.98 | 3.20 | 1.1 | 0.88 | 0.01 | 0.87 | 0.3 | 0.01 | <5 |
| Var-10 | 4.13 | 3.14 | 0.3 | 1.18 | 0.01 | 1.17 | 0.38 | 0.01 | <5 |
| Var-11 | 0.58 | 0.62 | 0.2 | 0.72 | <0.01 | 0.72 | 0.37 | 0.01 | <5 |
| Var-12 | 2.57 | 5.96 | 0.5 | 0.21 | 0.01 | 0.2 | 0.37 | 0.02 | <5 |
| Var-13 | 4.77 | 6.32 | 0.6 | 0.86 | <0.01 | 0.86 | 0.56 | <0.01 | <5 |
| Var-14 | 0.92 | 2.87 | 0.4 | 1.16 | <0.01 | 1.16 | 0.44 | <0.01 | <5 |
| Var-15 | 0.57 | 0.75 | <0.1 | 0.49 | 0.01 | 0.48 | 0.41 | <0.01 | <5 |
| Var-16 | 0.95 | 1.03 | <0.1 | 0.23 | 0.01 | 0.22 | 0.44 | 0.01 | <5 |
| Var-17 | 2.14 | 1.50 | <0.1 | 0.91 | 0.02 | 0.89 | 0.35 | 0.01 | <5 |
| Var-18 | 0.45 | 0.93 | <0.1 | 1.15 | 0.01 | 1.14 | 0.5 | 0.01 | <5 |
| Var-19 | 0.45 | 1.51 | <0.1 | 0.2 | 0.01 | 0.19 | 0.39 | 0.01 | <5 |
| Var-20 | 0.45 | 1.15 | <0.1 | 0.74 | 0.02 | 0.72 | 0.4 | <0.01 | <5 |
| Var-21 | 0.94 | 0.80 | 0.1 | 0.56 | 0.02 | 0.54 | 0.5 | <0.01 | <5 |
| Var-22 | 1.90 | 1.06 | <0.1 | 0.62 | 0.02 | 0.6 | 0.23 | 0.01 | <5 |
| Var-23 | 2.35 | 2.77 | <0.1 | 0.4 | <0.01 | 0.4 | 0.45 | 0.01 | <5 |
| Variability: Overall Statistics | Variability: Overall Statistics | Variability: Overall Statistics | Variability: Overall Statistics | Variability: Overall Statistics | Variability: Overall Statistics | Variability: Overall Statistics | Variability: Overall Statistics | Variability: Overall Statistics | Variability: Overall Statistics |
| Minimum | 0.22 | 0.56 | 0.1 | 0.17 | 0.01 | 0.15 | 0.23 | <0.01 | - |
| Average | 2.99 | 2.21 | 0.47 | 0.69 | 0.02 | 0.68 | 0.42 | 0.01 | - |
| Maximum | 29.4 | 6.32 | 1.1 | 1.45 | 0.04 | 1.44 | 0.78 | 0.02 | - |
| Notes: FAAS flame atomic absorption spectroscopy, LECO combustion analysis, GRAV fire assay gravimetric finish, CV cold vapor (mercury analysis), SM screen metallic, TOC total organic carbon | Notes: FAAS flame atomic absorption spectroscopy, LECO combustion analysis, GRAV fire assay gravimetric finish, CV cold vapor (mercury analysis), SM screen metallic, TOC total organic carbon | Notes: FAAS flame atomic absorption spectroscopy, LECO combustion analysis, GRAV fire assay gravimetric finish, CV cold vapor (mercury analysis), SM screen metallic, TOC total organic carbon | Notes: FAAS flame atomic absorption spectroscopy, LECO combustion analysis, GRAV fire assay gravimetric finish, CV cold vapor (mercury analysis), SM screen metallic, TOC total organic carbon | Notes: FAAS flame atomic absorption spectroscopy, LECO combustion analysis, GRAV fire assay gravimetric finish, CV cold vapor (mercury analysis), SM screen metallic, TOC total organic carbon | Notes: FAAS flame atomic absorption spectroscopy, LECO combustion analysis, GRAV fire assay gravimetric finish, CV cold vapor (mercury analysis), SM screen metallic, TOC total organic carbon | Notes: FAAS flame atomic absorption spectroscopy, LECO combustion analysis, GRAV fire assay gravimetric finish, CV cold vapor (mercury analysis), SM screen metallic, TOC total organic carbon | Notes: FAAS flame atomic absorption spectroscopy, LECO combustion analysis, GRAV fire assay gravimetric finish, CV cold vapor (mercury analysis), SM screen metallic, TOC total organic carbon | Notes: FAAS flame atomic absorption spectroscopy, LECO combustion analysis, GRAV fire assay gravimetric finish, CV cold vapor (mercury analysis), SM screen metallic, TOC total organic carbon | Notes: FAAS flame atomic absorption spectroscopy, LECO combustion analysis, GRAV fire assay gravimetric finish, CV cold vapor (mercury analysis), SM screen metallic, TOC total organic carbon |

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| 13-11 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 13-13: Head Assays – Berry Comminution Samples

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sample** | **Assays – Percent or g/t** | **Assays – Percent or g/t** | **Assays – Percent or g/t** | **Assays – Percent or g/t** | **Assays – Percent or g/t** | **Assays – Percent or g/t** | **Assays – Percent or g/t** | **Assays – Percent or g/t** |
| **Sample** | **Au<br> (g/t)** | **Ag<br> (g/t)** | **S<br> (%)** | **SO<sub>4</sub><br> (%)** | **S<sub>2</sub>-<br> (%)** | **C<br> (%)** | **TOC<br> (%)** | **Hg<br> (ppb)** |
| Method | FAAS | FAAS | LECO | GRAV | GRAV | LECO | LECO | CV |
| CCOM-1 | 5.49 | 0.6 | 1.06 | 0.01 | 1.05 | 0.53 | 0.02 | <5 |
| CCOM-2 | 1.90 | 0.1 | 0.57 | 0.02 | 0.55 | 0.5 | 0.02 | <5 |
| CCOM-3 | 0.27 | <0.1 | 0.19 | <0.01 | 0.19 | 0.58 | 0.12 | <5 |
| CCOM-4 | 0.44 | <0.1 | 0.26 | 0.04 | 0.21 | 0.51 | 0.08 | <5 |
| CCOM-5 | 1.64 | <0.1 | 0.33 | 0.01 | 0.32 | 0.39 | 0.01 | <5 |
| CCOM-6 | 1.05 | 0.1 | 0.25 | 0.01 | 0.24 | 0.53 | 0.19 | <5 |
| CCOM-7 | 1.90 | <0.1 | 0.36 | 0.01 | 0.35 | 0.42 | 0.03 | <5 |
| CCOM-8 | 1.44 | 0.1 | 0.69 | 0.01 | 0.68 | 0.39 | 0.03 | <5 |
| CCOM-9 | 0.32 | <0.1 | 0.65 | 0.01 | 0.64 | 0.6 | 0.01 | <5 |
| CCOM-10 | 1.38 | 0.2 | 0.95 | <0.01 | 0.94 | 0.37 | <0.01 | <5 |
| CCOM-11 | 0.50 | <0.1 | 0.19 | 0.02 | 0.17 | 0.35 | 0.07 | <5 |
| Variability: Overall Statistics |  |  |  |  |  |  |  |  |
| Minimum | 0.27 | 0.1 | 0.19 | 0.01 | 0.17 | 0.35 | <0.01 | - |
| Average | 1.48 | 0.3 | 0.5 | 0.01 | 0.48 | 0.46 | 0.057 | - |
| Maximum | 5.49 | 0.60 | 1.06 | 0.04 | 1.05 | 0.60 | 0.19 | - |
| Notes: FAAS flame atomic absorption spectroscopy, LECO combustion analysis, GRAV fire assay gravimetric finish, CV cold vapor (mercury analysis), TOC total organic carbon | Notes: FAAS flame atomic absorption spectroscopy, LECO combustion analysis, GRAV fire assay gravimetric finish, CV cold vapor (mercury analysis), TOC total organic carbon | Notes: FAAS flame atomic absorption spectroscopy, LECO combustion analysis, GRAV fire assay gravimetric finish, CV cold vapor (mercury analysis), TOC total organic carbon | Notes: FAAS flame atomic absorption spectroscopy, LECO combustion analysis, GRAV fire assay gravimetric finish, CV cold vapor (mercury analysis), TOC total organic carbon | Notes: FAAS flame atomic absorption spectroscopy, LECO combustion analysis, GRAV fire assay gravimetric finish, CV cold vapor (mercury analysis), TOC total organic carbon | Notes: FAAS flame atomic absorption spectroscopy, LECO combustion analysis, GRAV fire assay gravimetric finish, CV cold vapor (mercury analysis), TOC total organic carbon | Notes: FAAS flame atomic absorption spectroscopy, LECO combustion analysis, GRAV fire assay gravimetric finish, CV cold vapor (mercury analysis), TOC total organic carbon | Notes: FAAS flame atomic absorption spectroscopy, LECO combustion analysis, GRAV fire assay gravimetric finish, CV cold vapor (mercury analysis), TOC total organic carbon | Notes: FAAS flame atomic absorption spectroscopy, LECO combustion analysis, GRAV fire assay gravimetric finish, CV cold vapor (mercury analysis), TOC total organic carbon |

---

#### Table 13-14: ICP Assays – Berry Samples

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Analyte** | **Ag<br> (ppm)** | **As<br> (ppm)** | **Cd<br> (ppm)** | **Cu<br> (ppm)** | **Fe<br> (%)** | **Ni<br> (ppm)** | **S<br> (%)** | **Te<br> (ppm)** | **Zn<br> (ppm)** |
| Detection Limit | 0.200 | 1.00 | 1 | 1 | 0.01 | 1 | 0.01 | 1.00 | 2 |
| Analysis Method | AR-ICP | AR-ICP | AR-ICP | AR-ICP | AR-ICP | AR-ICP | AR-ICP | AR-ICP | AR-ICP |
| Var-1 | 1.3 | 3 | 2 | 40 | 2.65 | 7 | 1.57 | 6 | 231 |
| Var-2 | 0.7 | 3 | 1 | 68 | 2.34 | 11 | 0.56 | 5 | 21 |
| Var-3 | 0.2 | 2 | 1 | 20 | 1.94 | 3 | 0.93 | 2 | 34 |
| Var-4 | 0.3 | 4 | 1 | 18 | 2.17 | 3 | 0.75 | 4 | 33 |
| Var-5 | 0.2 | 2 | 1 | 34 | 2.21 | 2 | 0.13 | 5 | 30 |
| Var-6 | 0.3 | 3 | 1 | 18 | 2.34 | 3 | 0.65 | 3 | 43 |
| Var-7 | 0.7 | 3 | 1 | 16 | 1.89 | 5 | 0.67 | 9 | 21 |
| Var-8 | 0.2 | 2 | 1 | 80 | 2.42 | 2 | 0.49 | 3 | 29 |
| Var-9 | 1 | 2 | 1 | 7 | 2.50 | 2 | 0.90 | 7 | 22 |

---

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| | |
|:---|:---|
| 13-12 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Analyte** | **Ag<br> (ppm)** | **As<br> (ppm)** | **Cd<br> (ppm)** | **Cu<br> (ppm)** | **Fe<br> (%)** | **Ni<br> (ppm)** | **S<br> (%)** | **Te<br> (ppm)** | **Zn<br> (ppm)** |
| Var-10 | 0.2 | 2 | < 1 | 7 | 2.05 | 2 | 1.30 | 5 | 20 |
| Var-11 | 0.2 | 2 | < 1 | 24 | 2.11 | 2 | 0.74 | 7 | 92 |
| Var-12 | 0.5 | 2 | < 1 | 60 | 1.91 | 2 | 0.21 | 9 | 17 |
| Var-13 | 0.8 | 4 | 1 | 130 | 2.28 | 2 | 0.90 | 10 | 40 |
| Var-14 | 0.4 | 2 | 1 | 26 | 2.61 | 2 | 1.15 | 5 | 52 |
| Var-15 | 0.4 | 2 | 1 | 5 | 2.11 | 2 | 0.51 | 2 | 37 |
| Var-16 | < 0.2 | 2 | 1 | 15 | 2.32 | 2 | 0.23 | 2 | 22 |
| Var-17 | 0.2 | 2 | 1 | 24 | 2.24 | 2 | 0.84 | 2 | 17 |
| Var-18 | 0.2 | 5 | 1 | 26 | 3.26 | 2 | 1.19 | 2 | 66 |
| Var-19 | < 0.2 | 2 | 1 | 8 | 1.75 | 2 | 0.13 | 3 | 22 |
| Var-20 | 0.3 | 2 | 1 | 12 | 1.95 | 3 | 0.57 | 2 | 22 |
| Var-21 | 0.2 | 2 | 1 | 12 | 2.09 | 2 | 0.23 | 2 | 25 |
| Var-22 | < 0.2 | 1 | 1 | 14 | 1.61 | 2 | 0.44 | 2 | 14 |
| Var-23 | 51.6 | 2 | 2 | 17 | 1.68 | 1 | 0.26 | 3 | 18 |
| CCOM-1 | 1 | 5 | < 1 | 15 | 2.74 | 51 | 0.87 | 16 | 39 |
| CCOM-2 | 0.3 | 4 | 1 | 13 | 1.97 | 5 | 0.49 | 5 | 23 |
| CCOM-3 | 0.3 | 5 | 1 | 16 | 2.65 | 4 | 0.20 | 1 | 68 |
| CCOM-4 | 0.2 | 3 | < 1 | 6 | 2.61 | 3 | 0.25 | 2 | 22 |
| CCOM-5 | 0.2 | 3 | < 1 | 11 | 2.28 | 3 | 0.33 | 3 | 31 |
| CCOM-6 | 0.2 | 3 | < 1 | 12 | 2.31 | 5 | 0.27 | 3 | 32 |
| CCOM-7 | 0.2 | 4 | 1 | 33 | 2.26 | 4 | 0.33 | 2 | 27 |
| CCOM-8 | 0.2 | 2 | < 1 | 4 | 2.23 | 3 | 0.56 | 2 | 18 |
| CCOM-9 | 0.2 | 6 | 1 | 20 | 2.87 | 3 | 0.58 | 3 | 36 |
| CCOM-10 | 0.5 | 5 | 2 | 25 | 2.12 | 4 | 0.84 | 6 | 57 |
| CCOM-11 | 0.3 | 1 | 1 | 38 | 2.06 | 7 | 0.22 | 4 | 16 |
| Average | 2 | 3 | 1 | 26 | 2.25 | 5 | 0.60 | 4 | 38 |
| Min | 0.2 | 1 | 1 | 4 | 1.61 | 1 | 0.13 | 1 | 14 |
| Max | 51.6 | 6 | 2 | 130 | 3.26 | 51 | 1.57 | 16 | 231 |

---

13.2.3 Comminution

BaseMet undertook comminution testing to determine the variability of the Berry material. Testing of HQ core comprised testing, RWi and BWi tests at two closing screen sizes, and Bond abrasion index Ai testing.

The Bond ball mill tests were conducted using a 106 µm screen targeting a P80 of 75 µm and a 212 µm screen targeting a P<sub>80</sub> of 150 µm. The average P<sub>80</sub> values attained were 82 µm and 158 µm, respectively. Table 13-15 summarizes the results of the comminution tests on the Berry samples along with averages for Marathon and Leprechaun.

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|:---|:---|
| 13-13 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 13-15: Summary of Comminution Test Results

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sample ID** | **Grade (g/t)** | **Relative Density** | **Ai<br> (g)** | **RWi kWh/t** | **BWi<br> P<sub>80~82 </sub>µm kWh/t** | **BWi<br> P<sub>80~158 </sub>µm kWh/t** | **Axb (SMC)** |
| CCOM-1 | 5.49 | 2.69 | 0.39 | 13.8 | 14.7 | 14.2 | 50.2 |
| CCOM-2 | 1.90 | 2.60 | 0.41 | 12.3 | 14.7 | 12.8 | 54.9 |
| CCOM-3 | 0.27 | 2.66 | 0.31 | 14.1 | 16.0 | 13.8 | 47.7 |
| CCOM-4 | 0.44 | 2.68 | 0.41 | 13.5 | 15.6 | 14.2 | 47.4 |
| CCOM-5 | 1.64 | 2.66 | 0.41 | 13.1 | 15.0 | 12.8 | 51.1 |
| CCOM-6 | 1.05 | 2.70 | 0.43 | 12.9 | 15.6 | 15.4 | 46.9 |
| CCOM-7 | 1.90 | 2.68 | 0.48 | 12.2 | 14.9 | 12.7 | 54.9 |
| CCOM-8 | 1.44 | 2.67 | 0.48 | 12.0 | 14.8 | 13.2 | 58.9 |
| CCOM-9 | 0.32 | 2.69 | 0.44 | 13.8 | 14.5 | 12.8 | 41 |
| CCOM-10 | 1.38 | 2.67 | 0.50 | 12.2 | 15.0 | 12.2 | 52.2 |
| CCOM-11 | 0.50 | 2.67 | 0.50 | 12.5 | 15.8 | 13.6 | 47.9 |
| Berry Comminution Statistics |  |  |  |  |  |  |  |
| Average | 1.48 | 2.67 | 0.43 | 12.9 | 15.1 | 13.4 | 50.3 |
| Standard Deviation | 1.47 | 0.03 | 0.06 | 0.76 | 0.51 | 0.92 | 4.89 |
| Minimum | 0.27 | 2.60 | 0.31 | 12 | 14.5 | 12.2 | 41 |
| 25th Percentile | 0.47 | 2.67 | 0.41 | 12.3 | 14.8 | 12.8 | 47.6 |
| 75th Percentile | 1.77 | 2.69 | 0.48 | 13.7 | 15.6 | 14 | 53.6 |
| Maximum | 5.49 | 2.70 | 0.50 | 14.1 | 16 | 15.4 | 58.9 |
| Average Marathon data | - | 2.68 | 0.41 | 12.2 | 17.1 | 14.8 | 48 |
| Average Leprechaun data | - | 2.68 | 0.34 | 13.7 | 15.8 | 15.6 | 42.8 |

---

The results show the following:

&nbsp;&nbsp;&nbsp;&nbsp;· At 0.43 g, the abrasion index for the Berry samples is slightly higher than the average values for the Marathon and Leprechaun deposits. The variability of the Ai values at Berry was high (range from 0.3 to 0.5 g) as was also observed for the other two deposits.

&nbsp;&nbsp;&nbsp;&nbsp;· The average RWi for Berry material is very similar to that from the Marathon and Leprechaun deposits.

&nbsp;&nbsp;&nbsp;&nbsp;· The average BWi at a P<sub>80</sub> of approximately 75 µm (plant design criteria) for the Berry samples is slightly lower than that of Marathon and Leprechaun material. This means that a grinding circuit designed for a mixture of Marathon and Leprechaun, as described in the 2021 Feasibility Study, will be able to handle a mixture of all three materials.

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| | |
|:---|:---|
| 13-14 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;· At a P<sub>80</sub> of approximately 150 µm, the BWi for the Berry samples is significantly lower than that of Marathon and Leprechaun.

&nbsp;&nbsp;&nbsp;&nbsp;· The BWi at a finer grind is frequently higher than that at a coarser grind. All three materials show the expected trend with the BWi for the three materials increasing by about 10% as the grind is changed from a P<sub>80</sub> of about approximately 150 µm to a P<sub>80</sub> of approximately 75 µm.

&nbsp;&nbsp;&nbsp;&nbsp;· Material competency, as indicated by the average Axb values, is similar for all three deposits, with Berry having a slightly higher value, meaning that Berry material is easier to grind than the other materials. This is also evidenced by the other grinding parameters.

&nbsp;&nbsp;&nbsp;&nbsp;· The SMC data considered the Berry samples to be "soft" with SAG circuit specific energy (SCSE) values ranging from 8.3 to 9.7 kWh/t with an average of 8.9 kWh/t. This average can be compared with the average SCSE for Marathon material, estimated at 9.2 kWh/t, and that for Leprechaun, at 9.6 kWh/t, as reported in the earlier feasibility study.

13.2.4 Gravity Concentration

Due to the coarse gold content observed in drill core and the high gravity-recoverable gold observed in all earlier test work phases, all metallurgical tests on the Berry material included gravity concentration prior to downstream processing. The procedure generally included grinding the feed to the target grind size, a single pass through a Knelson laboratory concentrator, and then upgrading the concentrate to a low-mass concentrate on a Mozley mineral separator. Mass recovery was targeted at 0.03% to 0.05% to replicate plant practice. A summary of the batch gravity separation results for Berry samples at a grind P<sub>80</sub> of 150 µm is provided in Table 13-16. The Berry data, with the Marathon and Leprechaun data presented in the 2021 Feasibility Study, are presented in Figure 13-2 below. Some of the gravity recovery tests on Berry had mass pull values greater than 0.1%; these are shown in Figure 13-3 but are not included in the regression line.

Observations from batch gravity tests are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;· Gravity recovery is highly variable and typical of material with coarse gold.

&nbsp;&nbsp;&nbsp;&nbsp;· The relationship between gravity recovery and head grade is weak, although there is a definite trend.

&nbsp;&nbsp;&nbsp;&nbsp;· There seems to be a general trend in which Marathon gives low gravity recovery (approximately 23% at 2 g/t head), Leprechaun has slightly higher gravity recovery (28% at 2 g/t), and Berry has markedly higher recovery (40% at 2 g/t).

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| | |
|:---|:---|
| 13-15 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 13-2: Batch Gravity Recovery vs. Calculated Head Grade
Source: BaseMet 2022.

#### Table 13-16: Batch Gravity Tests for Berry Variability Samples (Left); and Comminution and Bulk Samples (Right)

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Variability Samples** | **Variability Samples** | **Variability Samples** | **Variability Samples** | **Variability Samples** | **Comminution and Bulk Samples** | **Comminution and Bulk Samples** | **Comminution and Bulk Samples** | **Comminution and Bulk Samples** | **Comminution and Bulk Samples** |
| **Comp** | **Test** | **Feed Grade** | **Grav Conc** | **Grav Conc** | **Comp** | **Test** | **Feed Grade** | **Grav Conc** | **Grav Conc** |
| **Comp** | **Test** | **Au (cal)** | **Mass (%)** | **Rec (%)** | **Comp** | **Test** | **Au (cal)** | **Mass (%)** | **Rec (%)** |
| Var-1 | R01B | 1.93 | 0.07 | 11.2 | CCOM-1 | CN25 | 8.44 | 0.18 | 70.4 |
| Var-2 | R02B | 3.68 | 0.07 | 43.4 | CCOM-2 | CN26 | 3.23 | 0.19 | 45.9 |
| Var-3 | R03B | 0.45 | 0.09 | 17.2 | CCOM-3 | CN27 | 0.70 | 0.09 | 41.5 |
| Var-4 | R04B | 1.40 | 0.06 | 27.2 | CCOM-4 | CN28 | 2.34 | 0.14 | 67.3 |
| Var-5 | R05B | 1.55 | 0.03 | 22.6 | CCOM-5 | CN29 | 1.71 | 0.18 | 41.4 |
| Var-6 | R06B | 1.53 | 0.05 | 43.5 | CCOM-6 | CN30 | 0.67 | 0.12 | 64.7 |
| Var-7 | R07B | 4.36 | 0.09 | 57.9 | CCOM-7 | CN31 | 2.13 | 0.14 | 60.4 |
| Var-8 | R08B | 0.54 | 0.06 | 31.1 | CCOM-8 | CN32 | 1.29 | 0.19 | 65.9 |
| Var-9 | R09B | 2.93 | 0.08 | 39.1 | CCOM-9 | CN33 | 0.86 | 0.23 | 49.8 |
| Var-10 | R10B | 3.92 | 0.09 | 34.1 | CCOM-10 | CN34 | 2.70 | 0.36 | 40.6 |
| Var-11 | R11B | 2.06 | 0.14 | 62.9 | CCOM-11 | CN35 | 0.94 | 0.12 | 48.8 |
| Var-12 | R12B | 5.55 | 0.06 | 53.1 |  |  |  |  |  |

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| 13-16 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Variability Samples** | **Variability Samples** | **Variability Samples** | **Variability Samples** | **Variability Samples** | **Comminution and Bulk Samples** | **Comminution and Bulk Samples** | **Comminution and Bulk Samples** | **Comminution and Bulk Samples** | **Comminution and Bulk Samples** |
| **Comp** | **Test** | **Feed Grade** | **Grav Conc** | **Grav Conc** | **Comp** | **Test** | **Feed Grade** | **Grav Conc** | **Grav Conc** |
| **Comp** | **Test** | **Au (cal)** | **Mass (%)** | **Rec (%)** | **Comp** | **Test** | **Au (cal)** | **Mass (%)** | **Rec (%)** |
| Var-13 | R13B | 8.71 | 0.09 | 41.5 | Bulk | CN24 | 2.87 | 0.07 | 51.1 |
| Var-14 | R14B | 1.76 | 0.12 | 40.9 | **Comminution and Bulk Samples: Statistics** | **Comminution and Bulk Samples: Statistics** | **Comminution and Bulk Samples: Statistics** | **Comminution and Bulk Samples: Statistics** | **Comminution and Bulk Samples: Statistics** |
| Var-15 | R15B | 1.17 | 0.09 | 47.4 | Minimum |  | 0.67 | 0.07 | 40.63 |
| Var-16 | R16B | 1.39 | 0.06 | 65.5 | Average |  | 2.32 | 0.17 | 53.98 |
| Var-17 | R17B | 1.67 | 0.07 | 20.9 | Maximum | Maximum | 8.44 | 0.36 | 70.37 |
| Var-18 | R18B | 2.33 | 0.08 | 63.9 |  |  |  |  |  |
| Var-19 | R19B | 0.99 | 0.04 | 68.1 |  |  |  |  |  |
| Var-20 | R20B | 1.02 | 0.06 | 21.6 |  |  |  |  |  |
| Var-21 | R21B | 1.23 | 0.06 | 16.7 |  |  |  |  |  |
| Var-22 | R22B | 0.71 | 0.05 | 23.3 |  |  |  |  |  |
| Var-23 | R23B | 2.25 | 0.05 | 41.8 |  |  |  |  |  |
| **Variability: Statistics** | **Variability: Statistics** | **Variability: Statistics** | **Variability: Statistics** | **Variability: Statistics** | **All Berry Samples: Overall Statistics** | **All Berry Samples: Overall Statistics** | **All Berry Samples: Overall Statistics** | **All Berry Samples: Overall Statistics** | **All Berry Samples: Overall Statistics** |
| Minimum |  | 0.45 | 0.03 | 11.15 | Minimum |  | 0.45 | 0.03 | 11.15 |
| Average |  | 2.31 | 0.07 | 38.90 | Average |  | 2.32 | 0.11 | 44.07 |
| Maximum |  | 8.71 | 0.14 | 68.06 | Maximum |  | 8.71 | 0.36 | 70.37 |
| Notes: cal = calculated | Notes: cal = calculated | Notes: cal = calculated | Notes: cal = calculated | Notes: cal = calculated | Notes: cal = calculated | Notes: cal = calculated | Notes: cal = calculated | Notes: cal = calculated | Notes: cal = calculated |

---

An e-GRG test was conducted on a Berry composite to determine the gravity recoverable gold at different grinds. The results of this test are compared with e-GRG tests conducted on composites by SGS in 2019 and tests on variability samples by BaseMet in 2021 in Figure 13-3.

The e-GRG result for Berry falls in the grouping of all other e-GRG tests done on material from the different deposit. It appears that there is no significant difference in the gravity concentration performance of Berry, Marathon, and Leprechaun materials, despite apparent differences observed in small-scale gravity separation tests.

Modelling based on the e-GRG tests was conducted by FLSmidth as reported in the 2021 Feasibility Study. Given the similarity of the E-GRG data for Berry with those for the other deposits, the circuit model has not been re-modelled, and the earlier results can be used. These are reproduced below in Table 13-17 from the 2021 report.

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| 13-17 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 13-3: E-GRG Test Results – Berry 2022 and Marathon & Leprechaun Zone Data from 2019 and 2021
Source: BaseMet 2022.

#### Table 13-17: Gravity Circuit Modelling Results at P<sub>80</sub> 75 & 150 µm Grind

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Sample** | **% of <br> Mill Discharge** | **Target Grind <br> Size P<sub>80</sub> µm** | **e-GRG%** | **Modelled Gravity Recovery %** |
| Marathon | 23 | 75 | 66 | 49 |
| Leprechaun | 23 | 75 | 62 | 47 |
| Marathon | 28 | 150 | 66 | 46 |
| Leprechaun | 28 | 150 | 62 | 42 |

---

13.2.5 Gravity-Leach Flowsheet Tests

The Berry Variability samples, as well as the comminution samples, were subjected to gravity-leach tests to obtain an estimate of the response of the Berry material used in the 2021 Feasibility Study.

The leach conditions for the gravity-leach flowsheet are shown in Table 13-18.

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| 13-18 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 13-18: Gravity-Leach Design Conditions

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| | |
|:---|:---|
| **Parameter** | **Value** |
| Primary Grind | P<sub>80</sub> 75 µm |
| Total Leach-CIL Time | 32 h |
| Leach Density | 43 wt% solids |
| pH | 12 |
| Dissolved Oxygen | 20 ppm |
| Notes: CIL carbon-in-leach | Notes: CIL carbon-in-leach |

---

Due to a misunderstanding, the leach time for the gravity tailings tests was 48 h. Several tests were performed to measure the effect of the erroneous leach time, and it is concluded that the impact is not significant. These tests and the impact of the error are discussed later in this section. The results of the tests are presented in Table 13-19 and plotted in Figure 13-4 along with data provided for the Leprechaun-Marathon mixture in the 2021 Feasibility Study.

The results of the leach tests on Var-04 and Var-13 seemed unexpectedly low and so were repeated but the results were essentially the same. Averages of the duplicate tests are provided in Table 13-19. The specific overall extraction numbers were 83.9% and 84.5% for Var-04 and 89.3% and 90.7% for Var-13, indicating reasonable reproducibility.

#### Table 13-19: Results of the Gravity-Leach Process on Berry Samples

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sample ID** | **Head Grade** | **Head Grade** | **Head Grade** | **Recovery, %** | **Recovery, %** | **Reagent Cons'n, kg/t** | **Reagent Cons'n, kg/t** |
| **Sample ID** | **Au (Calc) g/t** | **C %** | **S %** | **Gravity** | **Overall, 48 h** | **NaCN** | **Ca(OH)<sub>2</sub>** |
| Var-1 CN01C | 1.89 | 0.40 | 1.45 | 11.3 | 98.4 | 0.90 | 2.26 |
| Var-2 CN02C | 3.37 | 0.78 | 0.50 | 46.9 | 93.9 | 0.62 | 2.23 |
| Var-3 CN03C | 0.45 | 0.28 | 0.87 | 17.1 | 93.3 | 0.87 | 2.22 |
| Var-4 CN04C | 1.26 | 0.37 | 0.75 | 29.6 | 84.2 | 0.93 | 2.02 |
| Var-5 CN05C | 0.94 | 0.57 | 0.17 | 36.9 | 97.4 | 0.67 | 2.09 |
| Var-6 CN06C | 1.53 | 0.46 | 0.69 | 43.1 | 96.7 | 0.90 | 2.52 |
| Var-7 CN07C | 4.44 | 0.43 | 0.64 | 56.4 | 94.3 | 1.14 | 2.42 |
| Var-8 CN08C | 0.67 | 0.33 | 0.44 | 24.5 | 94.8 | 1.04 | 1.82 |
| Var-9 CN09C | 2.73 | 0.30 | 0.88 | 42.4 | 96.9 | 0.94 | 2.01 |
| Var-10 CN10C | 3.67 | 0.38 | 1.18 | 36 | 95.2 | 1.10 | 1.58 |
| Var-11 CN11C | 1.79 | 0.37 | 0.72 | 71.5 | 98.6 | 1.05 | 1.48 |
| Var-12 CN12C | 5.52 | 0.37 | 0.21 | 53.2 | 98.7 | 0.95 | 1.53 |
| Var-13 CN13C | 7.67 | 0.56 | 0.86 | 47 | 90 | 0.96 | 1.73 |
| Var-14 CN14C | 1.75 | 0.44 | 1.16 | 40.6 | 97.1 | 1.12 | 1.89 |
| Var-15 CN15C | 1.49 | 0.41 | 0.49 | 37.8 | 93.6 | 1.13 | 1.41 |
| Var-16 CN16C | 1.93 | 0.44 | 0.23 | 47.5 | 98.7 | 1.18 | 1.52 |
| Var-17 CN17C | 1.92 | 0.35 | 0.91 | 18 | 98.4 | 1.00 | 1.85 |
| Var-18 CN18C | 2.60 | 0.50 | 1.15 | 56.5 | 97.7 | 1.20 | 1.95 |

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| 13-19 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sample ID** | **Test ID** | **Head Grade** | **Head Grade** | **Head Grade** | **Recovery, %** | **Recovery, %** | **Reagent Cons'n, kg/t** | **Reagent Cons'n, kg/t** |
| **Sample ID** | **Test ID** | **Au (Calc) g/t** | **C %** | **S %** | **Gravity** | **Overall, 48 h** | **NaCN** | **Ca(OH)<sub>2</sub>** |
| Var-19 | CN19C | 1.00 | 0.39 | 0.20 | 67.3 | 99.5 | 1.07 | 1.55 |
| Var-20 | CN20C | 1.11 | 0.40 | 0.74 | 19.5 | 91.9 | 1.20 | 1.52 |
| Var-21 | CN21C | 1.36 | 0.50 | 0.56 | 15.5 | 89.3 | 0.89 | 1.33 |
| Var-22 | CN22C | 0.59 | 0.23 | 0.62 | 28.2 | 88.2 | 1.13 | 1.66 |
| Var-23 | CN23C | 2.04 | 0.45 | 0.40 | 46 | 97.1 | 1.07 | 1.57 |
| CCOM-1 | CN25 | 8.44 | 0.53 | 1.06 | 70.4 | 94.2 | 0.64 | 2.23 |
| CCOM-2 | CN26 | 3.23 | 0.50 | 0.57 | 45.9 | 95.7 | 0.80 | 1.69 |
| CCOM-3 | CN27 | 0.70 | 0.58 | 0.19 | 41.5 | 95.7 | 0.46 | 2.02 |
| CCOM-4 | CN28 | 2.34 | 0.51 | 0.26 | 67.3 | 99.4 | 0.62 | 2.08 |
| CCOM-5 | CN29 | 1.71 | 0.39 | 0.33 | 41.4 | 97.7 | 0.62 | 2.08 |
| CCOM-6 | CN30 | 0.67 | 0.53 | 0.25 | 64.7 | 95.5 | 0.48 | 2.20 |
| CCOM-7 | CN31 | 2.13 | 0.42 | 0.36 | 60.4 | 95.8 | 0.71 | 2.44 |
| CCOM-8 | CN32 | 1.29 | 0.39 | 0.69 | 65.9 | 93 | 0.60 | 2.35 |
| CCOM-9 | CN33 | 0.86 | 0.60 | 0.65 | 49.8 | 95.4 | 0.67 | 2.12 |
| CCOM-10 | CN34 | 2.70 | 0.37 | 0.95 | 40.6 | 89.6 | 0.69 | 2.06 |
| CCOM-11 | CN35 | 0.94 | 0.35 | 0.19 | 48.8 | 93.6 | 0.51 | 2.36 |
| Averages | Averages | 2.26 | 0.44 | 0.63 | 43.80 | 94.99 | 0.88 | 1.94 |

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#### Figure 13-4: Extraction of Gold from Berry Samples Using Gravity-Leach Process

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| 13-20 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

The grade-recovery data for the processing of Leprechaun and Marathon feed material, as provided in the 2021 Feasibility Study, has been included in Figure 13-5. Both data sets show a high level of scatter as can be expected given the nuggety nature of the gold mineralization and the presence of gold encapsulated in pyrite. A statistical analysis of the leach stage extraction data showed zero correlation between gold extraction and the ore analysis for total carbon, total organic carbon, sulphur, or tellurium and the leach stage gold content. Of particular importance is that Berry ore can be processed under the same conditions as Leprechaun and Marathon and deliver the same, or slightly higher, gold extraction.

The average NaCN consumption across 46 gravity-leach tests on Berry feed was 0.8 kg/t. This can be compared with the 0.27 kg/t reported in the 2021 Feasibility Study for Marathon and Leprechaun feed using data from BaseMet's BL639 project. The reason for the higher cyanide consumption in Berry material is unclear. Berry feed may indeed consume more cyanide or perhaps differences in test feed mass led to the higher cyanide consumption for the Berry tests (1 kg feed) compared to the 2021 Feasibility Study cyanidation tests (2 kg feed). There was no evident change in pH or other factors that might explain the higher cyanide demand.

Lime consumption in treating Berry material through the gravity-leach system averaged 2.3 kg/t which is essentially the same as the 2.2 kg/t for Marathon and Leprechaun material as discussed in the 2021 Feasibility Study. As noted earlier, the Berry gravity tailings were leached for 48 h instead of the 32 h of the 2021 Feasibility Study. Several data sources have been used to determine the impact of the difference in leach times on overall gold recovery.

SGS performed two detailed kinetic leach tests on gravity tailings, one using a Marathon-Leprechaun blend and the other a Marathon-Berry-Leprechaun blend, as part of its project 19407-1. The results are presented in Figure 13-5 and demonstrate very little extraction taking place between 32 and 48 h.

Examination of the detailed data shows that for both kinetic tests, extending the leach time from 32 h to 48 h would increase extraction by 0.6%. Given that approximately 50% of the gold in the mill feed is recovered by gravity, only half of the gold recovery is due to the gravity tailings leach. The above data therefore suggests that the 48 h leach data might have overstated the overall gold extraction by 0.3%.

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| 13-21 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 13-5: Kinetics of Gold Extraction from Gravity Tailings (SGS Project 19407-01)
After the error in leach time was detected, 21 pairs of gravity tailings leach tests were performed to determine the impact of the longer leach time on gold extraction. The test covered samples from all three deposits and a range from 0.4 to 4 g/t. The results are presented in Figure 13-6.

The data is evident in Figure 13-6 strongly indicate that, on average, there is no significant difference in overall gold extraction in moving from a 32-hour to 48-hour leach residence time.

#### Figure 13-6: Impact of Gravity Tailings Leach Time on Tailings Assay and Overall Gold Extraction
13.2.6 Gold Recovery

All available data from the 2021 Feasibility Study and 2022 test work described above are plotted in Figure 13-7 to derive a gold extraction relationship with gold feed grade. Gold extraction algorithms are provided in Table 13-20.

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| 13-22 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 13-7: Grade Extraction for Gravity-Leach Flowsheet

#### Table 13-20: Regression Lines and Extraction Predictions – Excluding Soluble Losses

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Data Set** | **Regression** | **Extraction Predicted at Stated Feed Grade, g/t Au** | **Extraction Predicted at Stated Feed Grade, g/t Au** | **Extraction Predicted at Stated Feed Grade, g/t Au** | **Extraction Predicted at Stated Feed Grade, g/t Au** | **Extraction Predicted at Stated Feed Grade, g/t Au** |
| **Data Set** | **Regression** | **Gravity-Leach Circuit – Soluble Losses Excluded** | **Gravity-Leach Circuit – Soluble Losses Excluded** | **Gravity-Leach Circuit – Soluble Losses Excluded** | **Gravity-Leach Circuit – Soluble Losses Excluded** | **Gravity-Leach Circuit – Soluble Losses Excluded** |
| **Data Set** | **Regression** | **0.5 g/t Au** | **1 g/t Au** | **2 g/t Au** | **3 g/t Au** | **4 g/t Au** |
| Consolidated | y = 0.2114x + 93.59 | 93.7 | 93.8 | 94.0 | 94.2 | 94.4 |
| Berry | y = -0.0316x + 95.058 | 95.0 | 95.0 | 95.0 | 95.0 | 94.9 |
| Leprechaun | y = 0.61x + 92.598 | 92.9 | 93.2 | 93.8 | 94.4 | 95.0 |
| Marathon | y = -0.0666x + 93.36 | 93.3 | 93.3 | 93.2 | 93.2 | 93.1 |
| Sum of Individuals | Sum of Individuals | 93.8 | 93.8 | 93.8 | 94.2 | 94.4 |

---

Note: Gravity-leach is capped at 96% extraction.

13.3 Recommendations

For continued plant optimization, it is recommended to complete a metallurgical test work program to further understand the metallurgical response of various ore types and head grades via the existing plant flowsheet, i.e., sample characterization (head analyses including gold by fire assay) and cyanidation test work (standard bottle roll tests including assessment of the effect of primary grind size).

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| 13-23 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

14.0 Mineral Resource Estimates

The Mineral Resource estimate for the Valentine Gold Mine has an effective date of December 31, 2025, and represents an update to the previous estimate issued on November 30, 2022. The 2025 Mineral Resource estimate covers the Leprechaun, Berry, Marathon, Victory, and Sprite deposits. Mineral Reserves are reported for the Leprechaun, Berry, and Marathon deposits, while only Mineral Resources are reported for Victory and Sprite.

The resource block models were prepared by Ean Finch, P.Geo., Senior Resource Geologist, Equinox. Niel de Bruin, P.Geo., Vice President, Mineral Resources, is the Qualified Person (QP) responsible for the Mineral Resource estimate. The QP has reviewed the models, parameters, and reporting methodology and accepts responsibility for the Mineral Resource statement.

The Mineral Resource estimate was prepared in accordance with the CIM (2014) definitions. The QP considers the estimate to be a reasonable representation of the global Mineral Resources for each deposit at the current level of geological knowledge and drill hole spacing. Mineral Resources are classified into Inferred, Indicated, and Measured categories based on increasing levels of geological confidence, consistent with CIM (2014) definitions.

The Mineral Resource estimate includes Inferred Mineral Resources, which are considered too speculative geologically to support economic analysis or conversion to Mineral Reserves. The QP is of the opinion that a significant portion of the Inferred Mineral Resources may be upgraded to the Indicated category with additional drilling.

14.1 Resource Database

Diamond drill core provides the primary dataset for the Mineral Resource estimate. No grade control drilling was included; however, reverse circulation (RC) drilling from the 2021 program was incorporated where appropriate.

14.1.1 Database Validation

All data imported into the Acquire database underwent extensive validation. Assay certificates, geological logs, survey records, and QA/QC results, including CRMS, were reviewed. Any identified discrepancies were corrected prior to use. Drill holes meeting all validation criteria were flagged to be used in the Mineral Resource estimate Table 14-1.The flagged database was exported from Acquire and included the following fields:

&nbsp;&nbsp;&nbsp;&nbsp;· Collar coordinates

&nbsp;&nbsp;&nbsp;&nbsp;· downhole surveys

&nbsp;&nbsp;&nbsp;&nbsp;· assays

&nbsp;&nbsp;&nbsp;&nbsp;· lithology

&nbsp;&nbsp;&nbsp;&nbsp;· alteration

&nbsp;&nbsp;&nbsp;&nbsp;· structural measurements

&nbsp;&nbsp;&nbsp;&nbsp;· geotechnical data

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| 14-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

The cut-off date for drill hole data was October 1, 2025, except for the Victory deposit, which used data up to September 11, 2025. A summary of number of validated drill holes and total drilling meters for each deposit is provided in Table 14-1.

#### Table 14-1: Number of Drill Holes and Drill Metres with Close-Out Dates Per Deposit

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|:---|:---|:---|:---|:---|
| **Deposit** | **Drill Hole Count** | **Total Metres <br> (m)** | **Assays Close-out Date** | **Date Assays Received** |
| Leprechaun | 498 | 104746 | October 1, 2025 | September 10, 2025 |
| Sprite | 155 | 26258 | October 1, 2025 | June 11, 2025 |
| Berry | 580 | 128641 | October 1, 2025 | May 23, 2025 |
| Marathon | 716 | 161717 | October 1, 2025 | September 20, 2025 |
| Victory | 122 | 23746 | September 11, 2025 | March 21, 2025 |
| **Total** | **2071** | **445108** |  |  |

---

A total of 2,071 diamond drill holes, representing 445,108 m of drilling were validated for use in the MRE. Drill hole data was imported into Leapfrog Geo via ODBC and verified to ensure accurate and completed data transfer. A three-dimensional (3D) geological model of the principal lithologies was constructed, and mineralized domains were interpreted for each deposit based on lithology, structural controls, and assay continuity.

Figure 14-1 presents a long-section view of the MRE drill holes and resource pit shells for each deposit with Figure 14-2 showing the same information in plan view.

#### Figure 14-1: Vertical Section Longitudinal View of Drill Holes in the Valentine Gold Mine
Source: Equinox 2026.

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| 14-2 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 14-2: Plan View of Drill Holes in the Valentine Gold Mine
Source: Equinox 2026.

14.1.2 Drill Hole Spacing

Drill hole spacing varies across the Marathon, Leprechaun, Berry, Sprite, and Victory deposits, reflecting differences in geological complexity, drilling depth, and historical exploration focus. In the Marathon deposit, drill coverage typically ranges from 15 m to 20 m in the upper and central portions of the ore body, increasing to approximately 50 m at depth, where drilling density decreases. The Leprechaun and Berry deposits exhibit average drill spacings of 20 m to 30 m, with local increases to 50 m or more in deeper areas. The relatively tight drill spacing in these three deposits supports the classification of Measured and Indicated Mineral Resources and, where engineering studies support it, the conversion to Proven and Probable Mineral Reserves.

In contrast, drill coverage in the Sprite and Victory deposits is more widely spaced, generally exceeding 30 m near the surface and increasing to more than 50 m at depth. This broader spacing reflects the earlier-stage nature of drilling in these areas and results in a lower confidence level, which is appropriate for Indicated and Inferred Mineral Resource classification.

Overall, the drill hole spacing is sufficient to support current geological interpretations, wireframe construction, and grade interpolation strategies. The density of drilling in the Marathon, Leprechaun, and Berry deposits enables reliable modelling of mineralized domains, grade continuity, and local geological controls, providing a reasonable level of confidence in the resulting Mineral Resource estimate. In areas with wider spacing, the classification appropriately reflects the increased uncertainty in grade continuity and geometry.

The following criteria were applied during database preparation:

&nbsp;&nbsp;&nbsp;&nbsp;· Samples outside the block model extents were excluded.

&nbsp;&nbsp;&nbsp;&nbsp;· Metallic Screen and LeachWELL assays were prioritized over Fire Assay results.

&nbsp;&nbsp;&nbsp;&nbsp;· Unsampled intervals and negative assay values were set to zero.

&nbsp;&nbsp;&nbsp;&nbsp;· Assays below the detection limit were assigned half the laboratory lower detection limit (LDL).

&nbsp;&nbsp;&nbsp;&nbsp;· Drilling extending beyond model extents but lacking economic potential was not assigned to a domain.

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| 14-3 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 14-2: Number of Assays and Total Assay Length for the Deposits Used in the Mineral Resource Estimate

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|:---|:---|:---|
| **Deposit** | **No. of Assays** | **Length of Assays(m)** |
| Leprechaun | 74892 | 101400 |
| Sprite | 18, 163 | 24027 |
| Berry | 89219 | 116150 |
| Marathon | 111783 | 156029 |
| Victory | 16068 | 21546 |
| **Total** | **310127** | **419161** |

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The QP reviewed all database validation procedures and concluded that the dataset is reliable and appropriate for Mineral Resource estimation.

14.2 Lithology Modelling

Mineralization at the Project is hosted within a predominantly flat-lying stratigraphic sequence comprising seven principal lithological units:

1 Rogerson Lake Conglomerate and associated sediments (CG)

2 Trondhjemite (TRJ)

3 Quartz Monzonite (Q-Monz)

4 Aphanitic Quartz Porphyry dykes (AQP; commonly referred to as felsic dykes)

5 Quartz-Tourmaline-Pyrite Veins (QTPV)

6 Mafic Dykes (MD)

7 Gabbro (GB)

Three-dimensional lithological models were constructed for each deposit using Seequent Leapfrog Geo, integrating drill hole lithology, structural measurements, and oriented core data. A standardized modelling workflow was applied across all five deposits to ensure consistency in interpretation, wireframing, and subsequent domain construction. These lithological models form the foundational framework for defining mineralized domains.

Although the overall lithological assemblage is consistent across the property, subtle variations occur between deposits. Notably, QTPV mineralization is predominantly hosted within Trondhjemite at Leprechaun, whereas in the Berry, Marathon, Sprite, and Victory deposits, QTPV mineralization is more commonly associated with Quartz Monzonite.

14.3 Mineralization Modelling

Gold mineralization at Valentine is primarily associated with the QTPV domains, with mafic dykes locally intruding both the TRJ and QTPV units. Mineralization was interpreted and modelled within the six principal lithologies and an overburden domain using Leapfrog Geo. Domain construction incorporated lithological contacts, structural controls, and assay continuity to ensure that the geometry and orientation of mineralized zones are geologically reasonable.

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| 14-4 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Structural data played a central role in defining the orientation of QTPV domains. Televiewer surveys, oriented core measurements, and surface mapping were used to characterize the dominant QTP vein set (Set 1), which governs the geometry of the mineralized system. Figure 14.3 illustrates the structural measurements from Set 1 veins, displayed as red disks, and their relationship to the QTPV domain in yellow.

14.3.1 Modelling Methodology

The 2025 Mineral Resource estimate mineralization domains were updated using the following workflow:

&nbsp;&nbsp;&nbsp;&nbsp;· Mineralization domains were constructed using Leapfrog Geo's Vein System Tool and Implicit Intrusion Tool, which provided implicit controls on domain geometry. Manual refinements were applied where necessary to ensure geological validity.

&nbsp;&nbsp;&nbsp;&nbsp;· Interval composites were generated using the Economic Composite Tool to support domain interpretation.

&nbsp;&nbsp;&nbsp;&nbsp;· Domain modelling focused on the primary QTP vein set (Set 1) for each deposit, as this set represents the dominant mineralized structure.

&nbsp;&nbsp;&nbsp;&nbsp;· Secondary (Set 2) and tertiary (Set 3) QTP vein sets were not explicitly modelled due to their limited volumetric significance and their tendency to be obscured by the more pervasive Set 1 veins.

&nbsp;&nbsp;&nbsp;&nbsp;· Structural measurements were filtered in stereonets to isolate Set 1 data, which was then used to guide interpolation and domain orientation.

&nbsp;&nbsp;&nbsp;&nbsp;· Directional control during implicit modelling was achieved using Televiewer data, oriented core, and surface structural mapping. These data were used to generate structural interpolation surfaces that informed local block search orientations, ensuring that variations in strike and dip were accurately captured.

&nbsp;&nbsp;&nbsp;&nbsp;· For domains modelled with the Vein System Tool, a mid-surface plane was generated for each wireframe to define block-specific search orientations.

&nbsp;&nbsp;&nbsp;&nbsp;· Volumes smaller than 1,000 m³ were excluded from the final QTPV domain. Assays within these small volumes were instead estimated within the host lithological domain to avoid introducing geologically insignificant slivers.

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| 14-5 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 14-3: Berry Deposit QTPV Domains and Set 1 Vein Structural Model
Note: Structural measurements from Set 1 veins are displayed as red disks. Source: Equinox 2026.

Figure 14-4 through Figure 14-8 illustrate the lithological and mineralization domains for the Leprechaun, Sprite, Berry, Marathon, and Victory deposits, respectively.

#### Figure 14-4: Vertical Section of the Leprechaun Deposit with Resource Pit Shell
Source: Equinox 2026.

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| 14-6 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 14-5: Vertical Section of the Sprite Deposit with Resource Pit Shell
Source: Equinox 2026.

#### Figure 14-6: Vertical Section of the Berry Deposit with Resource Pit Shell
Source: Equinox 2026.

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| 14-7 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 14-7: Vertical Section of the Marathon Deposit with Resource Pit Shell
Source: Equinox 2026.

#### Figure 14-8: Vertical Section of the Victory Deposit with Resource Pit Shell
Source: Equinox 2026.

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| 14-8 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

14.4 Bulk Density

A total of 3,909 measurements were used in the bulk density analysis across all lithological units. No measurements were taken for the overburden, and a bulk density of 1.50/tm<sup>3</sup> was assigned. The values per sample are derived from weighing the diamond core in air and submerged in water and applying the formula below:

*Bulk Density (ρb) = Weight in Air / (Weight in Air - Weight in Water)*

Average density values per domain are calculated from all data, with the top and bottom 2.5% of measurements removed to eliminate outlier values. Density is then assigned to blocks based on their flagged domains. The bulk density value per lithological unit for each domain is listed in Table 14-3.

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| 14-9 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 14-3: Valentine Bulk Density Values per Domain and Lithological Unit

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|:---|:---|:---|:---|
| **Deposits** | **Domains** | **No. of Samples** | **Bulk Density (t/m<sup>3</sup>)** |
| Leprechaun | MD | 91 | 2.84 |
| Leprechaun | QTPV | 65 | 2.66 |
| Leprechaun | CG | 33 | 2.79 |
| Leprechaun | TRJ | 217 | 2.69 |
| Leprechaun | OVB | - | 1.50 |
| Sprite | MD | 195 | 2.81 |
| Sprite | QTPV | 38 | 2.69 |
| Sprite | CG | 37 | 2.78 |
| Sprite | Q-Monz | 323 | 2.69 |
| Sprite | AQP | 68 | 2.71 |
| Sprite | OVB | - | 1.50 |
| Berry | MD | 323 | 2.79 |
| Berry | QTPV | 63 | 2.69 |
| Berry | CG | 49 | 2.74 |
| Berry | Q-Monz | 1203 | 2.69 |
| Berry | OVB | - | 1.50 |
| Marathon | MD | 109 | 2.81 |
| Marathon | QTPV | 57 | 2.68 |
| Marathon | CG | 37 | 2.75 |
| Marathon | Q-Monz | 198 | 2.69 |
| Marathon | GB | 136 | 2.96 |
| Marathon | OVB | - | 1.50 |
| Victory | MD | 195 | 2.82 |
| Victory | QTPV | 38 | 2.68 |
| Victory | CG | 37 | 2.78 |
| Victory | Q-Monz | 323 | 2.68 |
| Victory | AQP | 68 | 2.70 |
| Victory | OVB | - | 1.50 |
| Note: OVB overburden, CG Rogerson Lake Conglomerate and associated sediments, TRJ trondhjemite, AQP aphanitic quartz porphyry dykes, Q-Monz quartz monzonite, QTPV quartz-tourmaline-pyrite veins, MD mafic dykes, GB gabbro | Note: OVB overburden, CG Rogerson Lake Conglomerate and associated sediments, TRJ trondhjemite, AQP aphanitic quartz porphyry dykes, Q-Monz quartz monzonite, QTPV quartz-tourmaline-pyrite veins, MD mafic dykes, GB gabbro | Note: OVB overburden, CG Rogerson Lake Conglomerate and associated sediments, TRJ trondhjemite, AQP aphanitic quartz porphyry dykes, Q-Monz quartz monzonite, QTPV quartz-tourmaline-pyrite veins, MD mafic dykes, GB gabbro | Note: OVB overburden, CG Rogerson Lake Conglomerate and associated sediments, TRJ trondhjemite, AQP aphanitic quartz porphyry dykes, Q-Monz quartz monzonite, QTPV quartz-tourmaline-pyrite veins, MD mafic dykes, GB gabbro |

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14.5 Grade Capping of Outlier Samples

High-grade outlier assays have the potential to disproportionately influence block-grade estimates if not appropriately constrained. To manage this risk, gold assays were evaluated prior to compositing using a suite of statistical tools, including histograms, log-probability plots, and cumulative probability plots for each QTPV domain and are presented in Figure 14-9 to Figure 14-13. A summary of the descriptive statistics for the raw assays prior to capping for the QTPV and other domains are presented in Table 14-4.

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| 14-10 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 14-4: Summary Statistics for the Uncapped Raw Assays Per Domain and Lithological Units

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|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Deposit** | **Item** | **All** | **QTPV** | **MD** | **CG** | **TRJ** | **Q-MONZ** | **AQP** | **GB** |
| Leprechaun | No. Samples | 74874 | 15195 | 4707 | 2312 | 52660 | - | - | - |
| Leprechaun | Minimum | 0.002 | 0.002 | 0.002 | 0.002 | 0.002 | - | - | - |
| Leprechaun | Maximum | 375.78 | 375.78 | 18.97 | 15.46 | 98.60 | - | - | - |
| Leprechaun | Mean | 0.54 | 2.33 | 0.07 | 0.11 | 0.07 | - | - | - |
| Leprechaun | SD | 3.93 | 8.26 | 0.60 | 0.71 | 0.98 | - | - | - |
| Leprechaun | CV | 7.33 | 3.55 | 8.56 | 6.59 | 12.51 | - | - | - |
| Sprite | No. Samples | 18140 | 1271 | 2931 | 204 | - | 12407 | 1324 | - |
| Sprite | Minimum | 0.002 | 0.002 | 0.002 | 0.002 | - | 0.002 | 0.002 | - |
| Sprite | Maximum | 108.97 | 108.97 | 8.42 | 8.13 | - | 14.29 | 2.95 | - |
| Sprite | Mean | 0.13 | 1.38 | 0.03 | 0.08 | - | 0.05 | 0.02 | - |
| Sprite | SD | 1.38 | 4.94 | 0.20 | 0.62 | - | 0.28 | 0.12 | - |
| Sprite | CV | 10.34 | 3.59 | 6.99 | 7.74 | - | 6.22 | 7.38 | - |
| Berry | No. Samples | 89159 | 17194 | 6646 | 1091 | - | 64228 | - | - |
| Berry | Minimum | 0.002 | 0.002 | 0.002 | 0.002 | - | 0.002 | - | - |
| Berry | Maximum | 490.61 | 490.61 | 77.16 | 6.42 | - | 50.44 | - | - |
| Berry | Mean | 0.46 | 2.01 | 0.08 | 0.02 | - | 0.08 | - | - |
| Berry | SD | 3.79 | 8.30 | 1.22 | 0.22 | - | 0.74 | - | - |
| Berry | CV | 8.33 | 4.13 | 14.67 | 10.06 | - | 8.79 | - | - |
| Marathon | No. Samples | 111743 | 29865 | 6598 | 326 | - | 74684 | - | 270 |
| Marathon | Minimum | 0.002 | 0.002 | 0.002 | 0.002 | - | 0.002 | - | 0.002 |
| Marathon | Maximum | 1313.71 | 1313.71 | 19.41 | 4.91 | - | 76.12 | - | 0.13 |
| Marathon | Mean | 0.50 | 1.67 | 0.08 | 0.06 | - | 0.08 | - | 0.01 |
| Marathon | SD | 6.55 | 12.55 | 0.64 | 0.32 | - | 0.69 | - | 0.01 |
| Marathon | CV | 13.03 | 7.49 | 8.53 | 5.42 | - | 8.91 | - | 1.57 |
| Victory | No. Samples | 16063 | 1690 | 1218 | 213 | - | 12720 | 222 | - |
| Victory | Minimum | 0.002 | 0.002 | 0.002 | 0.002 | - | 0.002 | 0.002 | - |
| Victory | Maximum | 46.88 | 46.88 | 7.72 | 2.93 | - | 36.70 | 0.59 | - |
| Victory | Mean | 0.17 | 1.20 | 0.04 | 0.03 | - | 0.06 | 0.01 | - |
| Victory | SD | 1.17 | 3.19 | 0.32 | 0.25 | - | 0.45 | 0.05 | - |
| Victory | CV | 6.73 | 2.66 | 7.54 | 7.69 | - | 8.28 | 3.79 | - |
| Notes:<br>Assays reported using a 0.001 g/t Au cut-off and does not include assays that are not assigned to a domain for Mineral Resource estimate.<br>CV Coefficient of Variation, SD standard deviation | Notes:<br>Assays reported using a 0.001 g/t Au cut-off and does not include assays that are not assigned to a domain for Mineral Resource estimate.<br>CV Coefficient of Variation, SD standard deviation | Notes:<br>Assays reported using a 0.001 g/t Au cut-off and does not include assays that are not assigned to a domain for Mineral Resource estimate.<br>CV Coefficient of Variation, SD standard deviation | Notes:<br>Assays reported using a 0.001 g/t Au cut-off and does not include assays that are not assigned to a domain for Mineral Resource estimate.<br>CV Coefficient of Variation, SD standard deviation | Notes:<br>Assays reported using a 0.001 g/t Au cut-off and does not include assays that are not assigned to a domain for Mineral Resource estimate.<br>CV Coefficient of Variation, SD standard deviation | Notes:<br>Assays reported using a 0.001 g/t Au cut-off and does not include assays that are not assigned to a domain for Mineral Resource estimate.<br>CV Coefficient of Variation, SD standard deviation | Notes:<br>Assays reported using a 0.001 g/t Au cut-off and does not include assays that are not assigned to a domain for Mineral Resource estimate.<br>CV Coefficient of Variation, SD standard deviation | Notes:<br>Assays reported using a 0.001 g/t Au cut-off and does not include assays that are not assigned to a domain for Mineral Resource estimate.<br>CV Coefficient of Variation, SD standard deviation | Notes:<br>Assays reported using a 0.001 g/t Au cut-off and does not include assays that are not assigned to a domain for Mineral Resource estimate.<br>CV Coefficient of Variation, SD standard deviation | Notes:<br>Assays reported using a 0.001 g/t Au cut-off and does not include assays that are not assigned to a domain for Mineral Resource estimate.<br>CV Coefficient of Variation, SD standard deviation |

---

Multiple potential capping thresholds were tested for each domain. For each candidate cap, the impact on mean grade, the number of samples affected, and the distribution of capped values was assessed. Final capping thresholds were selected to balance the need to limit the influence of extreme values while preserving the natural grade distribution of the mineralized system. The final capped assay values are summarized in Table 14-5.

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| 14-11 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 14-9: Leprechaun QTPV Grade Capping Plots

#### Figure 14-10: Sprite QTPV Grade Capping Plots

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| 14-12 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 14-11: Berry QTPV Grade Capping Plots

#### Figure 14-12: Marathon QTPV Grade Capping Plots

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| 14-13 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 14-13: Victory QTPV Grade Capping Plots

#### Table 14-5: Descriptive Statistics of QTPV Assay Top Cut Values for Each Deposit

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Deposit** | &nbsp;&nbsp;**No. of Assays** | &nbsp;&nbsp;**Capping Levels (g/t) Au** | &nbsp;&nbsp;**No. of Assays Capped** | &nbsp;&nbsp;**Mean (g/t) Au** | &nbsp;&nbsp;**Standard Deviation** | &nbsp;&nbsp;**Coefficient of Variation<br> (CV)** | &nbsp;&nbsp;**Metal Loss<br> (%)** |
| &nbsp;&nbsp;Leprechaun | &nbsp;&nbsp;15195 | &nbsp;&nbsp;70 | &nbsp;&nbsp;36 | &nbsp;&nbsp;2.23 | &nbsp;&nbsp;6.53 | &nbsp;&nbsp;2.94 | &nbsp;&nbsp;4.39 |
| &nbsp;&nbsp;Sprite | &nbsp;&nbsp;1271 | &nbsp;&nbsp;36 | &nbsp;&nbsp;3 | &nbsp;&nbsp;1.27 | &nbsp;&nbsp;3.27 | &nbsp;&nbsp;2.58 | &nbsp;&nbsp;8.08 |
| &nbsp;&nbsp;Berry | &nbsp;&nbsp;17194 | &nbsp;&nbsp;72 | &nbsp;&nbsp;38 | &nbsp;&nbsp;1.91 | &nbsp;&nbsp;6.14 | &nbsp;&nbsp;3.22 | &nbsp;&nbsp;5.30 |
| &nbsp;&nbsp;Marathon | &nbsp;&nbsp;29885 | &nbsp;&nbsp;70 | &nbsp;&nbsp;32 | &nbsp;&nbsp;1.53 | &nbsp;&nbsp;4.67 | &nbsp;&nbsp;3.06 | &nbsp;&nbsp;8.95 |
| &nbsp;&nbsp;Victory | &nbsp;&nbsp;1690 | &nbsp;&nbsp;33 | &nbsp;&nbsp;4 | &nbsp;&nbsp;1.18 | &nbsp;&nbsp;2.93 | &nbsp;&nbsp;2.49 | &nbsp;&nbsp;1.73 |

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14.6 Composites

Sample-length statistics were evaluated following grade capping to determine an appropriate composite length for estimation. Assay interval lengths were evaluated in 0.5 m increments to assess the distribution of sample support within the dataset. The review indicates that most samples containing elevated gold grades were collected at lengths of 1.0 m or less and assays were composited to 1 m intervals. Summary statistics for the resulting 1.0 m capped composites within the QTPV domain are presented in Table 14-6. Several compositing rules were also applied to ensure that the resulting dataset preserved the geological controls on mineralization while maintaining appropriate grade support:

&nbsp;&nbsp;&nbsp;&nbsp;· Unsampled intervals were assigned a value of 0.00 g/t Au for compositing purposes.

&nbsp;&nbsp;&nbsp;&nbsp;· All intervals within lithological or mineralized domains were included in the compositing process.

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| 14-14 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;· Composites were confined to domain boundaries; no external dilution was introduced.

&nbsp;&nbsp;&nbsp;&nbsp;· Internal dilution was retained by including unmineralized or low-grade material within the domain boundaries.

&nbsp;&nbsp;&nbsp;&nbsp;· Composites shorter than 0.5 m were merged with the preceding interval within the same domain.

&nbsp;&nbsp;&nbsp;&nbsp;· Samples outside geological domains were excluded from compositing.

&nbsp;&nbsp;&nbsp;&nbsp;· Composites shorter than 0.5 m or not assigned to a domain were removed from the estimation dataset.

Comparison of the coefficient of variation (CV) for capped assays (Table 14-5) with the CV for the 1.0 m composites in Table 14-6, supports the selection of a 1.0 m composite length, with only minor variance observed between the datasets. This composite length provides consistent sample support for estimation, reduces variability, and does not introduce bias.

#### Table 14-6: Summary Statistics for the Capped 1.0 m Composites for QTPV Domain

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Domain** | **No. of Composites** | **Minimum<br> (g/t Au)** | **Maximum <br> (g/t Au)** | **Mean<br> (g/t Au)** | **CV** |
| Leprechaun | 15947 | 0.002 | 70.00 | 2.01 | 2.90 |
| Sprite | 1485 | 0.002 | 36.00 | 1.27 | 2.49 |
| Berry | 17718 | 0.002 | 72.00 | 1.87 | 3.20 |
| Marathon | 31691 | 0.002 | 70.00 | 1.50 | 2.95 |
| Victory | 1787 | 0.002 | 33.00 | 1.15 | 2.41 |

---

Comparison of assay and composite means also shows only minor variance, confirming that the selected composite length does not materially alter the grade distribution.

To further evaluate potential support-size bias, log-probability plots comparing the distributions of assays and composites were generated for each mineralized domain. An example for the Marathon deposit is shown in Figure 14-14, which demonstrates that the compositing process does not introduce measurable bias in the grade distribution.

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| 14-15 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 14-14: Log Probability Plot Comparing the QTPV Assays and Composites in Marathon Domain
14.6.1 High-Yield Distance Capping of Composites

To limit the spatial influence of extreme grades and reduce the risk of over-estimation, composite samples exceeding a defined threshold grade were restricted from contributing to estimates beyond a specified distance. Threshold values were selected through review of log-probability plots, with Figure 14-15 illustrating the representative histogram and probability plots used for the Marathon deposit.

Restriction distances were determined using both quantitative and qualitative approaches. Indicator variograms were generated in Vulcan to assess the spatial continuity of high-grade indicators, and these results were supplemented by visual inspection of the spatial distribution of high-grade composites. A representative indicator variogram for the Marathon deposit, using a 40 g/t Au indicator threshold, is shown in Figure 14-16.The final high-grade restriction parameters applied across all deposits, covering the QTPV, Trondhjemite/Quartz Monzonite, and other lithology-based mineralized domains, are summarized in Table 14-7. These parameters were selected to ensure that high-grade samples contribute appropriately within their demonstrated ranges of continuity and do not unduly influence estimates at distances unsupported by the data.

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| 14-16 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 14-15: Marathon QTPV High Yield Capping Plots

#### Figure 14-16: Indicator Variogram for Marathon Deposit

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| 14-17 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 14-7: High Yield Limit Parameters and Statistics

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Domain** | **Item** | **Leprechaun** | **Sprite** | **Berry** | **Marathon** | **Victory** |
| QTPV Domain | High Yield Grade (g/t Au) | 55.0 | 17.0 | 50.0 | 40.0 | 14.0 |
| QTPV Domain | Bearing (degrees) | 215 | 225 | 220 | 225 | 225 |
| QTPV Domain | Plunge (degrees) | -30 | -25 | -30 | -20 | -20 |
| QTPV Domain | Dip (degrees) | 0 | 10 | 0 | 0 | -10 |
| QTPV Domain | Range Major (m) | 12 | 15 | 12 | 16 | 17 |
| QTPV Domain | Range Semi-major (m) | 12 | 13 | 12 | 16 | 17 |
| QTPV Domain | Range Minor (m) | 6 | 6 | 6 | 4 | 4 |
| Trondhjemite and Quartz Monzonite Domain | High Yield Grade (g/t Au) | 8.0 | 6.0 | 7.0 | 12.0 | 9.0 |
| Trondhjemite and Quartz Monzonite Domain | Bearing (degrees) | 215 | 225 | 220 | 225 | 225 |
| Trondhjemite and Quartz Monzonite Domain | Plunge (degrees) | -30 | -30 | -30 | -20 | -20 |
| Trondhjemite and Quartz Monzonite Domain | Dip (degrees) | 0 | 10 | 0 | 0 | -10 |
| Trondhjemite and Quartz Monzonite Domain | Range Major (m) | 12 | 12 | 12 | 12 | 15 |
| Trondhjemite and Quartz Monzonite Domain | Range Semi-major (m) | 12 | 12 | 12 | 12 | 15 |
| Trondhjemite and Quartz Monzonite Domain | Range Minor (m) | 6 | 6 | 6 | 6 | 4 |
| Other Lithological Domains | High Yield Grade (g/t Au) | 5.0 | 5.0 | 5.0 | 5.0 | 5.0 |
| Other Lithological Domains | Bearing (degrees) | 215 | 225 | 220 | 225 | 225 |
| Other Lithological Domains | Plunge (degrees) | -30 | -30 | -30 | -20 | -20 |
| Other Lithological Domains | Dip (degrees) | 0 | 10 | 0 | 0 | -10 |
| Other Lithological Domains | Range Major (m) | 12 | 12 | 12 | 12 | 10 |
| Other Lithological Domains | Range Semi-major (m) | 12 | 12 | 12 | 12 | 10 |
| Other Lithological Domains | Range Minor (m) | 6 | 6 | 6 | 6 | 4 |

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14.7 Variography and Search Ellipsoids

14.7.1 Variography

Variograms were updated for the 2025 Mineral Resource estimate to evaluate the spatial continuity of gold mineralization and to guide the selection of search ellipsoids, ranges, and orientations for grade interpolation. Variogram development and application followed a structured workflow, summarized as follows:

&nbsp;&nbsp;&nbsp;&nbsp;· The bearing, plunge, and dip assigned to QTPV blocks were reviewed to establish the principal directions for variogram modelling. These orientations were derived from stereonet analysis of the dominant mineralized vein set (Set 1), which informed the implicit QTPV wireframes.

&nbsp;&nbsp;&nbsp;&nbsp;· Experimental variograms were generated for each deposit using Vulcan. Vertical sections and drill hole data were examined to confirm that the modelled grade continuity and mineralization geometry were consistent with observed geological trends. The principal directions of continuity identified in the variograms aligned with the structural and lithological controls on mineralization.

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| 14-18 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;· Variograms were produced for the QTPV and granitoid domains across all deposits, as these units represent the primary hosts of gold mineralization. Figure 14-17 illustrates a representative set of relative variograms for the Berry Deposit. The resulting variogram models and parameters are summarized in Table 14-8 for the QTPV domains and Table 14-9 for the remaining lithological domains.

&nbsp;&nbsp;&nbsp;&nbsp;· Search ellipsoid ranges for all domains were established based on the modelled variogram ranges. For non-QTPV domains, half-range distances were applied to reflect the more limited volumes and continuity of mineralization within these lithologies. All domains other than the QTPV and Trondhjemite/Quartz Monzonite units were estimated using a short-range, single-pass search to ensure that all blocks proximal to drill data received an estimate without over-extending continuity. Final search ellipsoid dimensions and orientations are provided in Section 14.8 discussing grade estimation.

This approach ensured that the search strategy is fully supported by geostatistical analysis, reflects geological controls on mineralization, and adheres to best practices.

#### Figure 14-17: Example of Variogram for the QTPV Domain in Berry deposit

#### Table 14-8: Variogram Parameters for the QTP Veins for Each Deposit

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Parameter** | &nbsp;&nbsp;**Leprechaun** | &nbsp;&nbsp;**Sprite** | &nbsp;&nbsp;**Berry** | &nbsp;&nbsp;**Marathon** | &nbsp;&nbsp;**Victory** |
| &nbsp;&nbsp;Bearing (Deg.) | &nbsp;&nbsp;215 | &nbsp;&nbsp;225 | &nbsp;&nbsp;220 | &nbsp;&nbsp;225 | &nbsp;&nbsp;225 |
| &nbsp;&nbsp;Plunge (Deg.) | &nbsp;&nbsp;-25 | &nbsp;&nbsp;-25 | &nbsp;&nbsp;-30 | &nbsp;&nbsp;-20 | &nbsp;&nbsp;-20 |
| &nbsp;&nbsp;Dip (Deg.) | &nbsp;&nbsp;10 | &nbsp;&nbsp;10 | &nbsp;&nbsp;10 | &nbsp;&nbsp;0 | &nbsp;&nbsp;-10 |
| &nbsp;&nbsp;Major Range (m) | &nbsp;&nbsp;33 | &nbsp;&nbsp;33 | &nbsp;&nbsp;32 | &nbsp;&nbsp;29 | &nbsp;&nbsp;42 |
| &nbsp;&nbsp;Major 80% Sill Range (m) | &nbsp;&nbsp;13 | &nbsp;&nbsp;15 | &nbsp;&nbsp;12 | &nbsp;&nbsp;12 | &nbsp;&nbsp;18 |
| &nbsp;&nbsp;Semi-major Range (m) | &nbsp;&nbsp;29 | &nbsp;&nbsp;28 | &nbsp;&nbsp;31 | &nbsp;&nbsp;30 | &nbsp;&nbsp;42 |
| &nbsp;&nbsp;Semi-major 80% Sill Range (m) | &nbsp;&nbsp;11 | &nbsp;&nbsp;13 | &nbsp;&nbsp;11 | &nbsp;&nbsp;13 | &nbsp;&nbsp;18 |
| &nbsp;&nbsp;Minor Range (m) | &nbsp;&nbsp;3 | &nbsp;&nbsp;2 | &nbsp;&nbsp;3 | &nbsp;&nbsp;2.5 | &nbsp;&nbsp;3 |

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| 14-19 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 14-9: Variogram Parameters for Qtz-Monzonite and Trondhjemite Lithological Units Per Deposit

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Item** | &nbsp;&nbsp;**Leprechaun** | &nbsp;&nbsp;**Sprite** | &nbsp;&nbsp;**Berry** | &nbsp;&nbsp;**Marathon** | &nbsp;&nbsp;**Victory** |
| &nbsp;&nbsp;Bearing (Degrees) | &nbsp;&nbsp;215 | &nbsp;&nbsp;225 | &nbsp;&nbsp;220 | &nbsp;&nbsp;225 | &nbsp;&nbsp;225 |
| &nbsp;&nbsp;Plunge (Degrees) | &nbsp;&nbsp;-30 | &nbsp;&nbsp;-25 | &nbsp;&nbsp;-30 | &nbsp;&nbsp;-20 | &nbsp;&nbsp;-20 |
| &nbsp;&nbsp;Dip (Degrees) | &nbsp;&nbsp;10 | &nbsp;&nbsp;10 | &nbsp;&nbsp;10 | &nbsp;&nbsp;0 | &nbsp;&nbsp;-10 |
| &nbsp;&nbsp;Major Range (m) | &nbsp;&nbsp;25 | &nbsp;&nbsp;35 | &nbsp;&nbsp;23 | &nbsp;&nbsp;26 | &nbsp;&nbsp;35 |
| &nbsp;&nbsp;Major 80% Sill Range (m) | &nbsp;&nbsp;10 | &nbsp;&nbsp;16 | &nbsp;&nbsp;11 | &nbsp;&nbsp;10 | &nbsp;&nbsp;15 |
| &nbsp;&nbsp;Semi-major Range (m) | &nbsp;&nbsp;20 | &nbsp;&nbsp;32 | &nbsp;&nbsp;22 | &nbsp;&nbsp;23 | &nbsp;&nbsp;34 |
| &nbsp;&nbsp;Semi-major 80% Sill Range (m) | &nbsp;&nbsp;7 | &nbsp;&nbsp;15 | &nbsp;&nbsp;11 | &nbsp;&nbsp;10 | &nbsp;&nbsp;15 |
| &nbsp;&nbsp;Minor Range (m) | &nbsp;&nbsp;3.5 | &nbsp;&nbsp;3 | &nbsp;&nbsp;6 | &nbsp;&nbsp;8 | &nbsp;&nbsp;5 |
| &nbsp;&nbsp;Minor 80% Sill Range (m) | &nbsp;&nbsp;1 | &nbsp;&nbsp;1.5 | &nbsp;&nbsp;3 | &nbsp;&nbsp;3.5 | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;Nugget | &nbsp;&nbsp;0.4 | &nbsp;&nbsp;0.3 | &nbsp;&nbsp;0.3 | &nbsp;&nbsp;0.4 | &nbsp;&nbsp;0.3 |

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14.7.2 Block Model Information

Table 14-10 summarizes the block model extents for the different domains in the X-, Y, and Z-direction l, the rotation parameters applied, and the parent and sub-cell block sizes used in the model. Block size selection was guided by the geometry of the mineralized domains, drill hole spacing, and the need to accurately represent lithological boundaries.

Within the QTPV domains, a parent block size of 3 m (X) × 3 m (Y) × 3 m (Z) was adopted, with sub-cells of 1.5 m in all directions. This finer block size was required to appropriately capture the narrow, structurally controlled geometry of the QTPV mineralization and to improve volumetric accuracy along complex domain contacts

For all domains outside the QTPV units, parent blocks of 6 m (X) × 6 m (Y) × 3 m (Z) were used, supported by sub-cells of 1.5 m in each direction. These block dimensions reflect the broader, constrained geometries of the granitoid and other lithological domains, while maintaining sufficient resolution for accurate volume representation and estimation.

#### Table 14-10: Block Model Properties for Deposits at Valentine

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| | | | | |
|:---|:---|:---|:---|:---|
| **Deposit** | **Variable** | **X-Direction** | **Y-Direction** | **Z-Direction** |
| Leprechaun | Origin Coordinates (m) | 486128.23 | 5355341.41 | -100.00 |
| Leprechaun | Offset Minimum (m) | - | - | - |
| Leprechaun | Offset Maximum (m) | 1344 | 1080 | 552 |
| Leprechaun | Child Block Size (m) | 1.5 | 1.5 | 1.5 |
| Leprechaun | Parent Block Size QTPV | 3.0 | 3.0 | 3.0 |
| Leprechaun | Parent Block Size Non QTPV | 6.0 | 6.0 | 3.0 |
| Leprechaun | Regularised Block Size (m) | 3.0 | 3.0 | 3.0 |
| Leprechaun | Bearing/Dip/Plunge (degree) | 73.0 | - | - |

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| 14-20 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

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| | | | | |
|:---|:---|:---|:---|:---|
| **Deposit** | **Variable** | **X-Direction** | **Y-Direction** | **Z-Direction** |
| Sprite | Origin Coordinates (m) | 495631.00 | 5363598.00 | - 200.00 |
| Sprite | Offset Minimum (m) | - | - | - |
| Sprite | Offset Maximum (m) | 1902 | 1098 | 570 |
| Sprite | Child Block Size (m) | 1.5 | 1.5 | 1.5 |
| Sprite | Parent Block Size QTPV | 3.0 | 3.0 | 3.0 |
| Sprite | Parent Block Size Non QTPV | 6.0 | 6.0 | 6.3 |
| Sprite | Regularised Block Size (m) | 3.0 | 3.0 | 3.0 |
| Sprite | Bearing/Dip/Plunge (degree) | 45.0 | - | - |
| Berry | Origin Coordinates (m) | 489192.179 | 5357646.441 | 0.00 |
| Berry | Offset Minimum (m) | -120.00 | -180.00 | - |
| Berry | Offset Maximum (m) | 1932 | 996 | 498 |
| Berry | Child Block Size (m) | 1.5 | 1.5 | 1.5 |
| Berry | Parent Block Size QTPV | 3.0 | 3.0 | 3.0 |
| Berry | Parent Block Size Non QTPV | 6.0 | 6.0 | 3.0 |
| Berry | Regularised Block Size (m) | 3.0 | 3.0 | 3.0 |
| Berry | Bearing/Dip/Plunge (degree) | 73.0 | - | - |
| Marathon | Origin Coordinates (m) | 492119.311 | 5358937.879 | -700.00 |
| Marathon | Offset Minimum (m) | - | - | - |
| Marathon | Offset Maximum (m) | 2064 | 1308 | 1152 |
| Marathon | Child Block Size (m) | 1.5 | 1.5 | 1.5 |
| Marathon | Parent Block Size QTPV | 3.0 | 3.0 | 3.0 |
| Marathon | Parent Block Size Non QTPV | 6.0 | 6.0 | 3.0 |
| Marathon | Regularised Block Size (m) | 3.0 | 3.0 | 3.0 |
| Marathon | Bearing/Dip/Plunge (degree) | 45.0 | - | - |
| Victory | Origin Coordinates (m) | 495631.00 | 5363598.00 | -200.00 |
| Victory | Offset Minimum (m) | - | - | - |
| Victory | Offset Maximum (m) | 1902 | 1098 | 570 |
| Victory | Child Block Size (m) | 1.5 | 1.5 | 1.5 |
| Victory | Parent Block Size QTPV | 3.0 | 3.0 | 3.0 |
| Victory | Parent Block Size Non QTPV | 6.0 | 6.0 | 3.0 |
| Victory | Regularised Block Size (m) | 3.0 | 3.0 | 3.0 |
| Victory | Bearing/Dip/Plunge (degree) | 45.0 | - | - |

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| 14-21 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

14.8 Grade Estimation

14.8.1 Search Ellipsoid Ranges

Search ellipsoid distances and orientations for each deposit were derived from the variogram models, supported by lithological and structural interpretations. The resulting parameters for all domains are summarized in Table 14-11 to Table 14-15. Within the QTPV domains, dynamic anisotropy was applied during estimation to locally orient the search ellipsoid according to the geometry of the domain solids. This approach allows the search neighbourhood to follow the variable dip and plunge of the mineralized vein system and provides a more geologically realistic interpolation.

For domains outside the QTPV units, fixed search orientations and ranges were used, based directly on the modelled variogram parameters. At the Leprechaun deposit, additional variography and modified search parameters were applied to the conglomerate domain to account for a secondary, parallel shear-vein set (Set 2) that influences grade continuity.

Search ranges for non-QTPV domains were set at approximately half of the QTPV variogram ranges to reflect the smaller volumes and more limited continuity of mineralization within these lithologies. Grades outside the QTPV solids were estimated within each lithological domain using a single-pass search to ensure all mineralization proximal to drill data was captured without over-extending continuity.

The full search ellipsoid parameters for each deposit are presented in the following tables:

&nbsp;&nbsp;&nbsp;&nbsp;· Table 14-11 Leprechaun Deposit

&nbsp;&nbsp;&nbsp;&nbsp;· Table 14-12 Sprite Deposit

&nbsp;&nbsp;&nbsp;&nbsp;· Table 14-13 Berry Deposit

&nbsp;&nbsp;&nbsp;&nbsp;· Table 14-14 Marathon Deposit

&nbsp;&nbsp;&nbsp;&nbsp;· Table 14-15 Victory Deposit

#### Table 14-11: Search Ellipsoid Parameters for Leprechaun Deposit

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Estimation Pass** | **Pass 1** | **Pass 2** | **Pass 3** | **Pass 4** | **Pass 4** | **Pass 4** |
| Domain | QTPV | QTPV | QTPV | TRJ | CG | MD |
| Bearing (Degrees) | D.A. | D.A. | D.A. | 215 | 320 | 215 |
| Plunge (Plunge of the Azimuth in Degrees) | D.A. | D.A. | D.A. | -30 | -65 | -30 |
| Dip (Degrees) | D.A. | D.A. | D.A. | 10 | 0 | 10 |
| Major (m) | 30 | 45 | 90 | 50 | 25 | 12 |
| Semi-Major (m) | 30 | 45 | 90 | 40 | 20 | 12 |
| Minor (m) | 6 | 9 | 12 | 6 | 6 | 6 |
| Minimum Number of Composites | 7 | 4 | 1 | 1 | 1 | 1 |
| Maximum Number of Composites | 15 | 15 | 10 | 10 | 10 | 10 |
| Maximum Composites per Drill Hole | 3 | 3 | 3 | 3 | 3 | 3 |

---

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| 14-22 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 14-12: Search Ellipsoid Parameters for Sprite Deposit

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Estimation Pass** | **Pass 1** | **Pass 2** | **Pass 3** | **Pass 4** | **Pass 4** |
| Domain | QTPV | QTPV | QTPV | Q-Monz | CG, MD, AQP |
| Bearing (Degrees) | D.A. | D.A. | D.A. | 225 | 225 |
| Plunge (Plunge of the Azimuth in Degrees) | D.A. | D.A. | D.A. | -25 | -25 |
| Dip (Degrees) | D.A. | D.A. | D.A. | 10 | 10 |
| Major (m) | 35 | 70 | 105 | 35 | 20 |
| Semi-Major (m) | 30 | 60 | 90 | 30 | 15 |
| Minor (m) | 6 | 6 | 9 | 6 | 6 |
| Minimum Number of Composites | 5 | 5 | 1 | 1 | 1 |
| Maximum Number of Composites | 15 | 15 | 10 | 9 | 6 |
| Maximum Composites per Drill Hole | 3 | 3 | 3 | 3 | 3 |

---

#### Table 14-13: Search Ellipsoid Parameters for Berry Deposit

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Estimation Pass** | **Pass 1** | **Pass 2** | **Pass 3** | **Pass 4** | **Pass 4** |
| Domain | QTPV | QTPV | QTPV | Q-Monz | CG, MD |
| Bearing (Degrees) | D.A. | D.A. | D.A. | 220 | 220 |
| Plunge (Plunge of the Azimuth in Degrees) | D.A. | D.A. | D.A. | -30 | -30 |
| Dip (Degrees) | D.A. | D.A. | D.A. | 10 | 10 |
| Major (m) | 30 | 45 | 90 | 45 | 15 |
| Semi-Major (m) | 30 | 45 | 90 | 45 | 15 |
| Minor (m) | 6 | 9 | 12 | 6 | 6 |
| Minimum Number of Composites | 7 | 5 | 1 | 1 | 1 |
| Maximum Number of Composites | 15 | 15 | 10 | 10 | 10 |
| Maximum Composites per Drill Hole | 3 | 3 | 3 | 3 | 3 |

---

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|:---|:---|
| 14-23 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 14-14: Search Ellipsoid Parameters for Marathon Deposit

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Estimation Pass** | **Pass 1** | **Pass 2** | **Pass 3** | **Pass 4** | **Pass 4** |
| Domain | QTPV | QTPV | QTPV | Q-Monz | CG, MD,GB |
| Bearing (Degrees) | D.A. | D.A. | D.A. | 225 | 225 |
| Plunge (Plunge of the Azimuth in Degrees) | D.A. | D.A. | D.A. | -20 | -20 |
| Dip (Degrees) | D.A. | D.A. | D.A. | 10 | 10 |
| Major (m) | 30 | 45 | 90 | 50 | 15 |
| Semi-Major (m) | 30 | 45 | 90 | 50 | 15 |
| Minor (m) | 6 | 9 | 12 | 6 | 6 |
| Domain | QTPV | QTPV | QTPV | Q-Monz | CG, MD,GB |
| Minimum Number of Composites | 7 | 5 | 1 | 1 | 1 |
| Maximum Number of Composites | 15 | 15 | 10 | 10 | 10 |
| Maximum Composites per Drill Hole | 3 | 3 | 3 | 3 | 3 |

---

#### Table 14-15: Search Ellipsoid Parameters for Victory Deposit

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Estimation Pass** | **Pass 1** | **Pass 2** | **Pass 3** | **Pass 4** | **Pass 4** |
| Domain | QTPV | QTPV | QTPV | Q-Monz | CG, MD, AQP |
| Bearing (Degrees) | D.A. | D.A. | D.A. | 225 | 225 |
| Plunge (Plunge of the Azimuth in Degrees) | D.A. | D.A. | D.A. | -20 | -20 |
| Dip (Degrees) | D.A. | D.A. | D.A. | 10 | 10 |
| Major (m) | 40 | 80 | 120 | 35 | 20 |
| Semi-Major (m) | 40 | 80 | 120 | 35 | 20 |
| Minor (m) | 6 | 9 | 9 | 6 | 6 |
| Minimum No. of Composites | 5 | 5 | 1 | 1 | 1 |
| Maximum No. of Composites | 15 | 15 | 10 | 10 | 10 |
| Maximum Composites per Drill Hole | 3 | 3 | 3 | 3 | 3 |

---

14.8.2 Block Grade Interpolation

Gold grades were interpolated into each mineralized domain using capped composited assay data.

Multiple interpolation methods were evaluated to assess grade continuity and test the sensitivity of the estimates. For the Leprechaun, Berry, and Marathon deposits, interpolation runs included:

&nbsp;&nbsp;&nbsp;&nbsp;· Inverse Distance cubed (ID³)

&nbsp;&nbsp;&nbsp;&nbsp;· Ordinary Kriging (OK)

&nbsp;&nbsp;&nbsp;&nbsp;· ID³ without capping

&nbsp;&nbsp;&nbsp;&nbsp;· Nearest Neighbour (NN)

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| 14-24 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

At the Victory and Sprite deposits, OK was not applied due to limited data density and insufficient variogram support. In these cases, Inverse Distance squared (ID²) was used as the kriging alternative.

Following visual review, statistical comparison, and reconciliation with informing composites, the capped ID³ estimate was selected as the preferred method for the final Mineral Resource model. The NN model was retained as a validation tool to assess local bias and smoothing, while the uncapped ID³ model was used to evaluate the influence of capping thresholds on the interpolated grades. Figure 14-18 through Figure 14-22 illustrate representative vertical sections showing the resulting block-grade distributions above 0.3 g/t Au.

Three estimation passes were completed within the QTPV domains to support resource classification. Only composites and blocks flagged to the same domain were used during interpolation to maintain geological consistency.

#### Figure 14-18: Vertical Section of Leprechaun Deposit Showing Estimated Block Grades
Source: Equinox 2026.

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| 14-25 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 14-19: Vertical section of Sprite Deposit Showing Estimated Block Grades,
Source: Equinox 2026.

#### Figure 14-20: Vertical section of Berry Deposit Showing Estimated Block Grade
Source: Equinox 2026.

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| 14-26 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 14-21: Vertical section of Marathon Deposit Showing Estimated Block Grades
Source: Equinox 2026.

#### Figure 14-22: Vertical section of Victory Deposit Showing Estimated Block Grades
Source: Equinox 2026.

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| 14-27 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

14.9 Block Model Validations

The completed block model was subjected to a comprehensive validation program to confirm that the estimation results are reasonable, internally consistent, and representative of both the informing composites and the interpreted mineralization trends. Multiple complementary checks were undertaken to ensure that the model provides a robust and unbiased representation of the underlying data. The validation workflow included:

Volume reconciliation to confirm that block model volumes for all mineralized and waste domains accurately reflect the input wireframes.

&nbsp;&nbsp;&nbsp;&nbsp;· Global metal comparisons across estimation methods and domains to ensure that the model does not introduce unintended global bias relative to the informing composites.

&nbsp;&nbsp;&nbsp;&nbsp;· Assessment of grade-capping impacts through comparison of capped and uncapped ID³ estimates, evaluating the influence of high-grade restrictions on both local block grades and global metal content.

&nbsp;&nbsp;&nbsp;&nbsp;· Quantile–Quantile (Q–Q) analysis to compare the distribution of composite grades with estimated block grades and identify any systematic over- or under-estimation across the grade spectrum.

&nbsp;&nbsp;&nbsp;&nbsp;· Swath plot analysis in the X, Y, and Z directions, comparing composites, Nearest Neighbour (NN) estimates, and ID³ estimates to evaluate spatial bias, smoothing, and the degree to which the model honours the spatial variability of the data.

&nbsp;&nbsp;&nbsp;&nbsp;· Detailed visual review of cross-sections and longitudinal sections to confirm that estimated grades reflect drill hole composites, respect domain boundaries, and do not exhibit grade leakage or over-extrapolation.

&nbsp;&nbsp;&nbsp;&nbsp;· Statistical comparisons of raw assays, composite data, and block grades for each estimation method to evaluate the effects of compositing, capping, and interpolation on the grade distribution.

14.9.1 Volume Validation

A comparison of the input wireframe volumes and the corresponding sub-blocked model volumes for all mineralized domains and the external waste domain shows excellent agreement. The mineralized volumes reconcile within an absolute difference of 0.1%, confirming that the block model accurately captures the geometry of the interpreted domains with Table 14-16 summarizing the validation for each deposit.

#### Table 14-16: Summary of the Volume Variance between Wireframes and Block Model

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Deposit** | &nbsp;&nbsp;**Volume WF** | &nbsp;&nbsp;**Volume Blocks** | &nbsp;&nbsp;**Difference** |
| &nbsp;&nbsp;Leprechaun | &nbsp;&nbsp;8682149 | &nbsp;&nbsp;8682937 | &nbsp;&nbsp;-0.01% |
| &nbsp;&nbsp;Sprite | &nbsp;&nbsp;1198338 | &nbsp;&nbsp;1198618 | &nbsp;&nbsp;-0.02% |
| &nbsp;&nbsp;Berry | &nbsp;&nbsp;9417500 | &nbsp;&nbsp;9415997 | &nbsp;&nbsp;0.02% |
| &nbsp;&nbsp;Marathon | &nbsp;&nbsp;17089678 | &nbsp;&nbsp;17090298 | &nbsp;&nbsp;-0.004% |
| &nbsp;&nbsp;Victory | &nbsp;&nbsp;2465099 | &nbsp;&nbsp;2465174 | &nbsp;&nbsp;-0.003% |
| &nbsp;&nbsp;All | &nbsp;&nbsp;38852764 | &nbsp;&nbsp;38853024 | &nbsp;&nbsp;-0.001% |

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| 14-28 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

14.9.2 Visual Validation — Composite Grades vs. Block Grades

Estimated block grades were visually reviewed to ensure that search parameters, anisotropy orientations, and domain boundaries were correctly honoured. Cross-sections demonstrate that estimated grades closely reflect the informing drill hole composites, with no evidence of material grade leakage between adjacent domains. No excessive extrapolation of grade was observed. Representative vertical sections are provided in Figure 14-23 to Figure 14-27.

#### Figure 14-23: Validation Section of Leprechaun Deposit at 20 m width Showing Estimated Block Grade, Drill Holes, and 2025 Pit Design
Source: Equinox 2026.

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| 14-29 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 14-24: Validation Section of Sprite Deposit at 20 m width Showing Estimated Block Grade, Drill Holes, and 2025 Pit Design
Source: Equinox 2026.

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| 14-30 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 14-25: Validation Section of Berry Deposit at 20 m width Showing Estimated Block Grade, Drill Holes, and 2025 Pit Design
Source: Equinox 2026.

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| 14-31 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 14-26: Validation Section of Marathon Deposit at 20 m width Showing Estimated Block Grade, Drill Holes, and 2025 Pit Design
Source: Equinox 2026.

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| 14-32 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 14-27: Validation Section of Victory Deposit at 20 m width Showing Estimated Block Grade, Drill Holes, and 2025 Pit Design
Source: Equinox 2026.

14.9.3 Statistical Validation of Interpolation Methods

Validation results for each deposit area are presented in the subsections that follow and include domain-specific observations. Statistical summary comparison of global grade statistics for the raw assays, capped composites, and block estimates generated, using the ID³ (uncapped and capped) and nearest neighbour (NN) estimators is provided in Table 14-16. The statistics presented in Table 14-16 were derived from the subcell block model prior to regularization, ensuring that the comparisons reflect the direct interpolation results without smoothing introduced by block averaging. These comparisons provide a quantitative basis for assessing the behaviour of the interpolation methods relative to the input data and confirm that the selected ID³ estimator produces global grade statistics that remain consistent with the composite dataset while appropriately moderating extreme values.

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| 14-33 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 14-17: Summary Statistics of Global Metal Content for Different Models at the Valentine Gold Mine

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Domain** | **Variable** | **Raw Assay** | **Capped Composites** | **ID<sup>3</sup> Uncapped** | **ID<sup>3</sup>** | **NN** |
| Leprechaun | Number of Samples/Blocks | 15195 | 15947 | 565181 | 565181 | 565181 |
| Leprechaun | Minimum (g/t Au) | 0.002 | 0.002 | 0.003 | 0.003 | 0.003 |
| Leprechaun | Maximum (g/t Au) | 375.78 | 70.00 | 98.18 | 65.77 | 70.00 |
| Leprechaun | Average (g/t Au) | 2.33 | 2.01 | 1.91 | 1.75 | 1.73 |
| Leprechaun | SD (g/t Au) | 8.26 | 6.07 | 3.26 | 2.70 | 4.91 |
| Leprechaun | CV | 3.55 | 2.90 | 1.70 | 1.54 | 2.83 |
| Sprite | Number of Samples | 1271 | 1485 | 89388 | 89388 | 89388 |
| Sprite | Minimum (g/t Au) | 0.002 | 0.002 | 0.004 | 0.004 | 0.000 |
| Sprite | Maximum (g/t Au) | 108.97 | 36.00 | 55.88 | 27.92 | 36.00 |
| Sprite | Average (g/t Au) | 1.38 | 1.27 | 1.36 | 1.12 | 1.11 |
| Sprite | SD (g/t Au) | 4.94 | 3.12 | 2.94 | 1.68 | 2.54 |
| Sprite | CV | 3.59 | 2.49 | 2.17 | 1.51 | 2.29 |
| Berry | Number of Samples | 17194 | 17718 | 719122 | 719122 | 719122 |
| Berry | Minimum (g/t Au) | 0.002 | 0.002 | 0.001 | 0.001 | 0.000 |
| Berry | Maximum (g/t Au) | 490.61 | 72.00 | 220.44 | 58.20 | 72.00 |
| Berry | Average (g/t Au) | 2.01 | 1.87 | 1.91 | 1.57 | 1.61 |
| Berry | SD (g/t Au) | 8.31 | 5.96 | 5.99 | 2.52 | 4.76 |
| Berry | CV | 4.13 | 3.20 | 3.14 | 1.60 | 2.96 |
| Marathon | Number of Samples | 29865 | 31691 | 860105 | 860105 | 860105 |
| Marathon | Minimum (g/t Au) | 0.002 | 0.002 | 0.002 | 0.002 | 0.002 |
| Marathon | Maximum (g/t Au) | 1313.71 | 70.00 | 569.93 | 60.88 | 70.00 |
| Marathon | Average (g/t Au) | 1.68 | 1.50 | 1.57 | 1.36 | 1.35 |
| Marathon | SD (g/t Au) | 12.55 | 4.42 | 5.25 | 2.14 | 4.02 |
| Marathon | CV | 7.49 | 2.95 | 3.35 | 1.58 | 2.96 |
| Victory | Number of Samples | 1690 | 1787 | 154993 | 154993 | 154993 |
| Victory | Minimum (g/t Au) | 0.002 | 0.002 | 0.002 | 0.002 | 0.002 |
| Victory | Maximum (g/t Au) | 46.88 | 33.00 | 30.92 | 22.64 | 33.00 |
| Victory | Average (g/t Au) | 1.20 | 1.15 | 1.21 | 1.10 | 1.08 |
| Victory | SD (g/t Au) | 3.19 | 2.78 | 1.63 | 1.28 | 2.21 |
| Victory | CV | 2.65 | 2.41 | 1.35 | 1.17 | 2.05 |

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| 14-34 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

14.9.4 Statistical Validation — Swath Plots

Figure 14-28 to Figure 14-32 present swath plots used to evaluate the behaviour of the interpolation across the model extents. The close alignment between composite and block-grade trends indicates that the interpolation is performing as intended, with no material spatial bias introduced. These plots confirm that the model honours the underlying grade distribution and the spatial continuity observed in the drill hole data.

#### Figure 14-28: Swath Plots for Leprechaun at the Valentine Mine

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| 14-35 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 14-29: Swath Plots for Sprite Deposit at the Valentine Mine

#### Figure 14-30: Swath Plots for Berry Deposit at the Valentine Mine

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| 14-36 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 14-31: Swath Plots for Marathon Deposit at the Valentine Mine

#### Figure 14-32: Swath Plots for Victory Deposit at the Valentine Mine

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| 14-37 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

14.9.5 Grade Smoothing and Conditional Bias Validations

Figure 14-33 to Figure 14-37 presents the Q–Q plots comparing composite grades to estimated block grades. The quantile relationships demonstrate that the interpolation reproduces the overall grade distribution, with minor over-estimation at lower grades and slight under-estimation at higher grades. These patterns are consistent with expected smoothing effects inherent in block models and are considered acceptable for the scale and purpose of the estimate.

#### Figure 14-33: Q–Q plots Comparing Composite Dataset with Block Model Values for Leprechaun Deposit

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| 14-38 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 14-34: Q–Q Plots Comparing Composite Dataset with Block Model Values for Sprite Deposit

#### Figure 14-35: Q–Q Plots Comparing Composite Dataset with Block Model Values for Berry Deposit

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| 14-39 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 14-36: Q–Q Plots Comparing Composite Dataset with Block Model Values for Marathon Deposit

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| 14-40 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 14-37: Q–Q Plots Comparing Composite Dataset with Block Model Values for Victory Deposit
14.9.6 Reconciliation of Production Data versus Mineral Resource estimate model

Reconciliation against actual mining and processing data is not yet available, as the operation remains in the early stages of ramp-up. Commercial mining and plant operations commenced only last year, and the limited production history does not yet provide a representative dataset for meaningful comparison. Reconciliation will be completed once sufficient operational data has been collected to support a reliable assessment of model performance.

14.9.7 Conclusion on Block Model Validation

The validation program confirms that the block model provides a reliable representation of the deposit's mineralization. Volumes reconcile within 0.1% of the interpreted wireframes. Visual and statistical comparisons demonstrate that the model accurately reflects composite gold grades, with no significant global or local bias. The selected ID³ estimator performs consistently across domains, and the model is considered suitable for use in Mineral Resource reporting.

14.10 Mineral Resource

14.10.1 Mineral Resource Classification

Mineral Resource classification for the 2025 Mineral Resource estimate uses the CIM (2014) definitions. Classification reflects the level of confidence in the geological interpretation, the quality and density of the supporting data, and the reliability of the estimation methodology. As per CIM guidance, Inferred Mineral Resources are considered too speculative geologically to support mine planning or economic analysis and cannot be assumed to convert to Indicated or Measured categories with additional drilling.

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| 14-41 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Classification for all deposits was based primarily on the estimation pass, supported by the distance to the nearest informing composite and the local drill hole density. Classification shapes were reviewed visually and validated statistically to ensure consistency with CIM expectations. The classification criteria applied to each deposit are summarized in Table 14-18.

#### Table 14-18: Mineral Resource Classification Parameters

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Category** | **Item** | **Leprechaun** | **Sprite** | **Berry** | **Marathon** | **Victory** |
| Estimation Pass | Measured | 1 | N.A. | 1 | 1 | N.A. |
| Estimation Pass | Indicated | 1 or 2 | 1 or 2 | 1 or 2 | 1 or 2 | 1 or 2 |
| Estimation Pass | Inferred | 1,2 and 3 | 1,2 and 3 | 1,2 and 3 | 1,2 and 3 | 1,2 and 3 |
| Domain | Measured | Implicit QTPV Domain Only | N.A. | Implicit QTPV Domain Only | Implicit QTPV Domain Only | N.A. |
| Domain | Indicated | QTPV Only | Implicit QTPV Domain Only | QTPV Only | QTPV Only | Implicit QTPV Domain Only |
| Domain | Inferred | All Domains | All Domains | All Domains | All Domains | All Domains |
| No. of Minimum Composite | Measured | 7 | N.A. | 7 | 7 | N.A. |
| No. of Minimum Composite | Indicated | 4 | 5 | 5 | 4 | 5 |
| No. of Minimum Composite | Inferred | 1 | 1 | 1 | 1 | 1 |
| Max Distance to Composite | Measured | 12 | N.A. | 12 | 12 | N.A. |
| Max Distance to Composite | Indicated | 30 | 30 | 30 | 30 | 30 |
| Max Distance to Composite | Inferred | 60 | 60 | 60 | 60 | 60 |
| No of Minimum Drill Holes | Measured | 3 | N.A. | 3 | 3 | N.A. |
| No of Minimum Drill Holes | Indicated | 2 | 2 | 2 | 2 | 2 |
| No of Minimum Drill Holes | Inferred | 1 | 1 | 1 | 1 | 1 |

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14.10.2 Valentine Gold Mine Mineral Resources Reasonable Prospects for Eventual Economic Extraction

The 2025 Mineral Resource estimate for the Valentine Gold Mine demonstrates reasonable prospects for eventual economic extraction (REEE) by open-pit and underground mining methods. A Whittle pit optimization was completed on the 3 m × 3 m × 3 m block model, and the resulting economic shell was used to constrain the open-pit Mineral Resources. Block sizes were adjusted (regularized) due to data size during the creation of the pit shell to the following:

&nbsp;&nbsp;&nbsp;&nbsp;· 9 m (X) x 9 m (Y) x 9 m (Z) for the Sprite, Berry and Victory deposits

&nbsp;&nbsp;&nbsp;&nbsp;· 12 m (X) x 12 m (Y) x 6 m (Z) for Leprechaun and Marathon deposits

The economic parameters and cut-off grade (COG) criteria used to define the pit shell and underground stopes are summarized in Table 14-19. The pit shell was generated using the Lerchs–Grossman algorithm at a gold price of US$2,400/oz, and a reporting cut-off grade of 0.30 g/t Au was applied for open-pit Mineral Resources. An overall pit slope of 45° was assumed.

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| 14-42 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Portions of the block model located outside the open-pit shell but meeting the criteria for underground extraction were evaluated using a cut-off grade of 1.21 g/t Au. Conceptual underground stope shapes were generated to demonstrate reasonable prospects for eventual economic extraction by underground methods.

#### Table 14-19: Input Parameters Used for the Pit Optimization and Underground Mineable Shapes

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| | | | |
|:---|:---|:---|:---|
| **Parameter** | **Unit** | **Pit Mining** | **Underground** |
| Gold Price | US$/oz | 2400 | 2300 |
| Exchange Rate | USD/CAD | 1.00:1.31 | 1.00:1.31 |
| Royalty Rate | % | 3 | 3 |
| Gold Process Recovery | % | 95 | 95 |
| Mining & Process Costs | $/t | 17.37 | 79.80 |
| Incremental Bench Cost | $/6m Bench | 0.011 | Not Applicable |
| G&A Costs | $/t | 4.50 | Not Applicable |
| Total Ore Processing Cost | $/t | 20.40 | 81.78 |
| Refining and Transportation Cost | $/oz rec. | 5.34 | 5.00 |
| Cut-off Grade | g/t | 0.30 | 1.21 |

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Topographic surfaces as of December 31, 2025, were used to flag blocks above and below the surface. Overburden volumes were also identified to ensure correct density assignment for blocks intersecting the topographic and bedrock surfaces during pit optimization.

Mineral Resources are reported exclusive of Mineral Reserves. Mineral Resource results inclusive of reserves are provided for completeness and comparison reasons. Consolidated Mineral Resources exclusive of Mineral Reserves are presented in Table 14-20, inclusive Mineral Resources are presented in Table 14-21.

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| 14-43 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 14-20: Consolidated Mineral Resource Estimate, Exclusive of Mineral Reserves – Effective Date December 31, 2025

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Category** | **In-Pit** | **In-Pit** | **In-Pit** | **In-Pit** | **Underground** | **Underground** | **Underground** | **In-Pit & Underground** | **In-Pit & Underground** | **In-Pit & Underground** |
| **Category** | **>= 0.30 g/t Au** | **>= 0.30 g/t Au** | **>= 0.30 g/t Au** | **>= 0.30 g/t Au** | **>= 1.21 g/t Au** | **>= 1.21 g/t Au** | **>= 1.21 g/t Au** | **In-Pit & Underground** | **In-Pit & Underground** | **In-Pit & Underground** |
| **Category** | **Tonnage<br> (kt)** | **Gold Grade <br> (g/t)** | **Contained Gold<br> (koz)** | **Tonnage<br> (kt)** | **Tonnage<br> (kt)** | **Gold Grade<br> (g/t)** | **Contained Gold<br> (koz)** | **Tonnage<br> (kt)** | **Gold Grade<br> (g/t)** | **Contained Gold<br> (koz)** |
| Measured | 6379 | 1.15 | 236 | 49 | 49 | 4.32 | 7 | 6428 | 1.18 | 243 |
| Indicated | 22790 | 1.24 | 908 | 170 | 170 | 3.28 | 18 | 22961 | 1.25 | 926 |
| **M+I** | **29170** | **1.22** | **1145** | **219** | **219** | **3.51** | **25** | **29389** | **1.24** | **1169** |
| Inferred | 31272 | 1.07 | 1077 | 717 | 717 | 2.23 | 51 | 31989 | 1.10 | 1128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Mineral Resource estimate was completed in accordance with the CIM (2014) definitions and the CIM Best Practice Guidelines (2019).<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table exclusive of Mineral Reserves.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit resources are reported at a cut off grade of 0.30 g/t Au and are constrained within an optimized pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimized pit shell was generated using a gold price of $2,400/oz Au and a USD/CAD exchange rate of 1.31. The optimization incorporated mining and processing costs of $17.37/t, G&A costs of $4.50/t, and refining and transportation cost of $5.34/oz of recovered gold.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within conceptual mineable stopes using a cut-off grade of 1.21g/t Au. <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of $2,300/oz was used to determine the underground cut-off grade. Assumptions include mining & processing cost of $79.80/t, refining and transportation cost of $5.0/oz of recovered gold, and process sustaining capital cost of $1.20/t. No G&A costs were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Underground stope sizes were on average at a strike length of 5 m, a mining height of 3 m, and a stope width corresponding to the full extent of the modelled mineralized zone.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A process recovery of 95% and a royalty rate of 3.0% were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Totals may not sum due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Mineral Resource estimate was completed in accordance with the CIM (2014) definitions and the CIM Best Practice Guidelines (2019).<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table exclusive of Mineral Reserves.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit resources are reported at a cut off grade of 0.30 g/t Au and are constrained within an optimized pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimized pit shell was generated using a gold price of $2,400/oz Au and a USD/CAD exchange rate of 1.31. The optimization incorporated mining and processing costs of $17.37/t, G&A costs of $4.50/t, and refining and transportation cost of $5.34/oz of recovered gold.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within conceptual mineable stopes using a cut-off grade of 1.21g/t Au. <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of $2,300/oz was used to determine the underground cut-off grade. Assumptions include mining & processing cost of $79.80/t, refining and transportation cost of $5.0/oz of recovered gold, and process sustaining capital cost of $1.20/t. No G&A costs were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Underground stope sizes were on average at a strike length of 5 m, a mining height of 3 m, and a stope width corresponding to the full extent of the modelled mineralized zone.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A process recovery of 95% and a royalty rate of 3.0% were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Totals may not sum due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Mineral Resource estimate was completed in accordance with the CIM (2014) definitions and the CIM Best Practice Guidelines (2019).<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table exclusive of Mineral Reserves.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit resources are reported at a cut off grade of 0.30 g/t Au and are constrained within an optimized pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimized pit shell was generated using a gold price of $2,400/oz Au and a USD/CAD exchange rate of 1.31. The optimization incorporated mining and processing costs of $17.37/t, G&A costs of $4.50/t, and refining and transportation cost of $5.34/oz of recovered gold.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within conceptual mineable stopes using a cut-off grade of 1.21g/t Au. <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of $2,300/oz was used to determine the underground cut-off grade. Assumptions include mining & processing cost of $79.80/t, refining and transportation cost of $5.0/oz of recovered gold, and process sustaining capital cost of $1.20/t. No G&A costs were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Underground stope sizes were on average at a strike length of 5 m, a mining height of 3 m, and a stope width corresponding to the full extent of the modelled mineralized zone.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A process recovery of 95% and a royalty rate of 3.0% were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Totals may not sum due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Mineral Resource estimate was completed in accordance with the CIM (2014) definitions and the CIM Best Practice Guidelines (2019).<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table exclusive of Mineral Reserves.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit resources are reported at a cut off grade of 0.30 g/t Au and are constrained within an optimized pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimized pit shell was generated using a gold price of $2,400/oz Au and a USD/CAD exchange rate of 1.31. The optimization incorporated mining and processing costs of $17.37/t, G&A costs of $4.50/t, and refining and transportation cost of $5.34/oz of recovered gold.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within conceptual mineable stopes using a cut-off grade of 1.21g/t Au. <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of $2,300/oz was used to determine the underground cut-off grade. Assumptions include mining & processing cost of $79.80/t, refining and transportation cost of $5.0/oz of recovered gold, and process sustaining capital cost of $1.20/t. No G&A costs were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Underground stope sizes were on average at a strike length of 5 m, a mining height of 3 m, and a stope width corresponding to the full extent of the modelled mineralized zone.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A process recovery of 95% and a royalty rate of 3.0% were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Totals may not sum due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Mineral Resource estimate was completed in accordance with the CIM (2014) definitions and the CIM Best Practice Guidelines (2019).<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table exclusive of Mineral Reserves.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit resources are reported at a cut off grade of 0.30 g/t Au and are constrained within an optimized pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimized pit shell was generated using a gold price of $2,400/oz Au and a USD/CAD exchange rate of 1.31. The optimization incorporated mining and processing costs of $17.37/t, G&A costs of $4.50/t, and refining and transportation cost of $5.34/oz of recovered gold.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within conceptual mineable stopes using a cut-off grade of 1.21g/t Au. <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of $2,300/oz was used to determine the underground cut-off grade. Assumptions include mining & processing cost of $79.80/t, refining and transportation cost of $5.0/oz of recovered gold, and process sustaining capital cost of $1.20/t. No G&A costs were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Underground stope sizes were on average at a strike length of 5 m, a mining height of 3 m, and a stope width corresponding to the full extent of the modelled mineralized zone.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A process recovery of 95% and a royalty rate of 3.0% were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Totals may not sum due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Mineral Resource estimate was completed in accordance with the CIM (2014) definitions and the CIM Best Practice Guidelines (2019).<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table exclusive of Mineral Reserves.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit resources are reported at a cut off grade of 0.30 g/t Au and are constrained within an optimized pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimized pit shell was generated using a gold price of $2,400/oz Au and a USD/CAD exchange rate of 1.31. The optimization incorporated mining and processing costs of $17.37/t, G&A costs of $4.50/t, and refining and transportation cost of $5.34/oz of recovered gold.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within conceptual mineable stopes using a cut-off grade of 1.21g/t Au. <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of $2,300/oz was used to determine the underground cut-off grade. Assumptions include mining & processing cost of $79.80/t, refining and transportation cost of $5.0/oz of recovered gold, and process sustaining capital cost of $1.20/t. No G&A costs were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Underground stope sizes were on average at a strike length of 5 m, a mining height of 3 m, and a stope width corresponding to the full extent of the modelled mineralized zone.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A process recovery of 95% and a royalty rate of 3.0% were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Totals may not sum due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Mineral Resource estimate was completed in accordance with the CIM (2014) definitions and the CIM Best Practice Guidelines (2019).<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table exclusive of Mineral Reserves.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit resources are reported at a cut off grade of 0.30 g/t Au and are constrained within an optimized pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimized pit shell was generated using a gold price of $2,400/oz Au and a USD/CAD exchange rate of 1.31. The optimization incorporated mining and processing costs of $17.37/t, G&A costs of $4.50/t, and refining and transportation cost of $5.34/oz of recovered gold.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within conceptual mineable stopes using a cut-off grade of 1.21g/t Au. <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of $2,300/oz was used to determine the underground cut-off grade. Assumptions include mining & processing cost of $79.80/t, refining and transportation cost of $5.0/oz of recovered gold, and process sustaining capital cost of $1.20/t. No G&A costs were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Underground stope sizes were on average at a strike length of 5 m, a mining height of 3 m, and a stope width corresponding to the full extent of the modelled mineralized zone.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A process recovery of 95% and a royalty rate of 3.0% were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Totals may not sum due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Mineral Resource estimate was completed in accordance with the CIM (2014) definitions and the CIM Best Practice Guidelines (2019).<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table exclusive of Mineral Reserves.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit resources are reported at a cut off grade of 0.30 g/t Au and are constrained within an optimized pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimized pit shell was generated using a gold price of $2,400/oz Au and a USD/CAD exchange rate of 1.31. The optimization incorporated mining and processing costs of $17.37/t, G&A costs of $4.50/t, and refining and transportation cost of $5.34/oz of recovered gold.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within conceptual mineable stopes using a cut-off grade of 1.21g/t Au. <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of $2,300/oz was used to determine the underground cut-off grade. Assumptions include mining & processing cost of $79.80/t, refining and transportation cost of $5.0/oz of recovered gold, and process sustaining capital cost of $1.20/t. No G&A costs were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Underground stope sizes were on average at a strike length of 5 m, a mining height of 3 m, and a stope width corresponding to the full extent of the modelled mineralized zone.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A process recovery of 95% and a royalty rate of 3.0% were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Totals may not sum due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Mineral Resource estimate was completed in accordance with the CIM (2014) definitions and the CIM Best Practice Guidelines (2019).<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table exclusive of Mineral Reserves.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit resources are reported at a cut off grade of 0.30 g/t Au and are constrained within an optimized pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimized pit shell was generated using a gold price of $2,400/oz Au and a USD/CAD exchange rate of 1.31. The optimization incorporated mining and processing costs of $17.37/t, G&A costs of $4.50/t, and refining and transportation cost of $5.34/oz of recovered gold.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within conceptual mineable stopes using a cut-off grade of 1.21g/t Au. <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of $2,300/oz was used to determine the underground cut-off grade. Assumptions include mining & processing cost of $79.80/t, refining and transportation cost of $5.0/oz of recovered gold, and process sustaining capital cost of $1.20/t. No G&A costs were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Underground stope sizes were on average at a strike length of 5 m, a mining height of 3 m, and a stope width corresponding to the full extent of the modelled mineralized zone.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A process recovery of 95% and a royalty rate of 3.0% were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Totals may not sum due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Mineral Resource estimate was completed in accordance with the CIM (2014) definitions and the CIM Best Practice Guidelines (2019).<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table exclusive of Mineral Reserves.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit resources are reported at a cut off grade of 0.30 g/t Au and are constrained within an optimized pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimized pit shell was generated using a gold price of $2,400/oz Au and a USD/CAD exchange rate of 1.31. The optimization incorporated mining and processing costs of $17.37/t, G&A costs of $4.50/t, and refining and transportation cost of $5.34/oz of recovered gold.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within conceptual mineable stopes using a cut-off grade of 1.21g/t Au. <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of $2,300/oz was used to determine the underground cut-off grade. Assumptions include mining & processing cost of $79.80/t, refining and transportation cost of $5.0/oz of recovered gold, and process sustaining capital cost of $1.20/t. No G&A costs were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Underground stope sizes were on average at a strike length of 5 m, a mining height of 3 m, and a stope width corresponding to the full extent of the modelled mineralized zone.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A process recovery of 95% and a royalty rate of 3.0% were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Totals may not sum due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Mineral Resource estimate was completed in accordance with the CIM (2014) definitions and the CIM Best Practice Guidelines (2019).<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table exclusive of Mineral Reserves.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit resources are reported at a cut off grade of 0.30 g/t Au and are constrained within an optimized pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimized pit shell was generated using a gold price of $2,400/oz Au and a USD/CAD exchange rate of 1.31. The optimization incorporated mining and processing costs of $17.37/t, G&A costs of $4.50/t, and refining and transportation cost of $5.34/oz of recovered gold.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within conceptual mineable stopes using a cut-off grade of 1.21g/t Au. <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of $2,300/oz was used to determine the underground cut-off grade. Assumptions include mining & processing cost of $79.80/t, refining and transportation cost of $5.0/oz of recovered gold, and process sustaining capital cost of $1.20/t. No G&A costs were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Underground stope sizes were on average at a strike length of 5 m, a mining height of 3 m, and a stope width corresponding to the full extent of the modelled mineralized zone.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A process recovery of 95% and a royalty rate of 3.0% were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Totals may not sum due to rounding. |

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|:---|:---|
| 14-44 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 14-21: Consolidated Mineral Resource Estimate, Inclusive of Mineral Reserves – Effective Date December 31, 2025

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| | | | | |
|:---|:---|:---|:---|:---|
| **Mining Area** | **Category** | **Tonnage<br> (kt)** | **Gold Grade <br> (g/t)** | **Contained <br> Gold<br> (koz)** |
| In-Pit <br> >=0.30g/t | Measured | 26977 | 1.8 | 1585 |
| In-Pit <br> >=0.30g/t | Indicated | 48318 | 1.5 | 2299 |
| In-Pit <br> >=0.30g/t | **M + I** | **75295** | **1.6** | **3884** |
| In-Pit <br> >=0.30g/t | Inferred | 31272 | 1.1 | 1077 |
| Underground<br> >= 1.20 g/t Au | Measured | 49 | 4.3 | 7 |
| Underground<br> >= 1.20 g/t Au | Indicated | 170 | 3.3 | 18 |
| Underground<br> >= 1.20 g/t Au | **M + I** | **219** | **3.5** | **25** |
| Underground<br> >= 1.20 g/t Au | Inferred | 717 | 2.2 | 51 |
| Stockpiles | Indicated | 1563 | 0.9 | 46 |
| Stockpiles | **M + I** | **1563** | **0.9** | **46** |
| **Total** | Measured | 27026 | 1.8 | 1592 |
| **Total** | Indicated | 50051 | 1.5 | 2363 |
| **Total** | **M + I** | **77077** | **1.6** | **3955** |
| **Total** | Inferred | 31989 | 1.1 | 1128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Mineral Resource estimate was completed in accordance with the CIM (2014) definitions and the CIM Best Practice Guidelines (2019).<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table inclusive of Mineral Reserves and include probable stockpile material.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit resources are reported at a cut off grade of 0.30 g/t Au and are constrained within an optimized pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimized pit shell was generated using a gold price of $2,400/oz Au and a USD/CAD exchange rate of 1.31. The optimization incorporated mining and processing costs of $17.37/t, G&A costs of $4.50/t, and refining and transportation cost of $5.34/oz of recovered gold.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within conceptual mineable stopes using a cut-off grade of 1.21g/t Au. <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of $2,300/oz was used to determine the underground cut-off grade. Assumptions include mining & processing cost of $79.80/t, refining and transportation cost of $5.0/oz of recovered gold, and process sustaining capital cost of $1.20/t. No G&A costs were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Underground stope sizes were on average at a strike length of 5 m, a mining height of 3 m, and a stope width corresponding to the full extent of the modelled mineralized zone.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A process recovery of 95% and a royalty rate of 3.0% were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Totals may not sum due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Mineral Resource estimate was completed in accordance with the CIM (2014) definitions and the CIM Best Practice Guidelines (2019).<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table inclusive of Mineral Reserves and include probable stockpile material.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit resources are reported at a cut off grade of 0.30 g/t Au and are constrained within an optimized pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimized pit shell was generated using a gold price of $2,400/oz Au and a USD/CAD exchange rate of 1.31. The optimization incorporated mining and processing costs of $17.37/t, G&A costs of $4.50/t, and refining and transportation cost of $5.34/oz of recovered gold.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within conceptual mineable stopes using a cut-off grade of 1.21g/t Au. <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of $2,300/oz was used to determine the underground cut-off grade. Assumptions include mining & processing cost of $79.80/t, refining and transportation cost of $5.0/oz of recovered gold, and process sustaining capital cost of $1.20/t. No G&A costs were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Underground stope sizes were on average at a strike length of 5 m, a mining height of 3 m, and a stope width corresponding to the full extent of the modelled mineralized zone.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A process recovery of 95% and a royalty rate of 3.0% were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Totals may not sum due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Mineral Resource estimate was completed in accordance with the CIM (2014) definitions and the CIM Best Practice Guidelines (2019).<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table inclusive of Mineral Reserves and include probable stockpile material.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit resources are reported at a cut off grade of 0.30 g/t Au and are constrained within an optimized pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimized pit shell was generated using a gold price of $2,400/oz Au and a USD/CAD exchange rate of 1.31. The optimization incorporated mining and processing costs of $17.37/t, G&A costs of $4.50/t, and refining and transportation cost of $5.34/oz of recovered gold.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within conceptual mineable stopes using a cut-off grade of 1.21g/t Au. <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of $2,300/oz was used to determine the underground cut-off grade. Assumptions include mining & processing cost of $79.80/t, refining and transportation cost of $5.0/oz of recovered gold, and process sustaining capital cost of $1.20/t. No G&A costs were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Underground stope sizes were on average at a strike length of 5 m, a mining height of 3 m, and a stope width corresponding to the full extent of the modelled mineralized zone.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A process recovery of 95% and a royalty rate of 3.0% were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Totals may not sum due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Mineral Resource estimate was completed in accordance with the CIM (2014) definitions and the CIM Best Practice Guidelines (2019).<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table inclusive of Mineral Reserves and include probable stockpile material.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit resources are reported at a cut off grade of 0.30 g/t Au and are constrained within an optimized pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimized pit shell was generated using a gold price of $2,400/oz Au and a USD/CAD exchange rate of 1.31. The optimization incorporated mining and processing costs of $17.37/t, G&A costs of $4.50/t, and refining and transportation cost of $5.34/oz of recovered gold.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within conceptual mineable stopes using a cut-off grade of 1.21g/t Au. <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of $2,300/oz was used to determine the underground cut-off grade. Assumptions include mining & processing cost of $79.80/t, refining and transportation cost of $5.0/oz of recovered gold, and process sustaining capital cost of $1.20/t. No G&A costs were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Underground stope sizes were on average at a strike length of 5 m, a mining height of 3 m, and a stope width corresponding to the full extent of the modelled mineralized zone.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A process recovery of 95% and a royalty rate of 3.0% were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Totals may not sum due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Mineral Resource estimate was completed in accordance with the CIM (2014) definitions and the CIM Best Practice Guidelines (2019).<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The effective date of the Mineral Resource estimate is December 31, 2025.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Mineral Resources are presented in this table inclusive of Mineral Reserves and include probable stockpile material.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Open pit resources are reported at a cut off grade of 0.30 g/t Au and are constrained within an optimized pit shell.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The optimized pit shell was generated using a gold price of $2,400/oz Au and a USD/CAD exchange rate of 1.31. The optimization incorporated mining and processing costs of $17.37/t, G&A costs of $4.50/t, and refining and transportation cost of $5.34/oz of recovered gold.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Underground mineral resources are reported within conceptual mineable stopes using a cut-off grade of 1.21g/t Au. <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. A long-term gold price of $2,300/oz was used to determine the underground cut-off grade. Assumptions include mining & processing cost of $79.80/t, refining and transportation cost of $5.0/oz of recovered gold, and process sustaining capital cost of $1.20/t. No G&A costs were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Underground stope sizes were on average at a strike length of 5 m, a mining height of 3 m, and a stope width corresponding to the full extent of the modelled mineralized zone.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. A process recovery of 95% and a royalty rate of 3.0% were applied.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Totals may not sum due to rounding. |

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Table 14-22 and Table 14-23 summarize the Mineral Resources exclusively and inclusively of Mineral Reserves for the different deposits at the Project.

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| 14-45 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 14-22: Mineral Resource Estimate by Deposit, Exclusive of Reserves – Effective Date December 31, 2025

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Category** | **Open Pit** | **Open Pit** | **Open Pit** | **Underground** | **Underground** | **Underground** |
| **Category** | **>= 0.30 g/t Au** | **>= 0.30 g/t Au** | **>= 0.30 g/t Au** | **>= 1.21 g/t Au** | **>= 1.21 g/t Au** | **>= 1.21 g/t Au** |
| **Category** | **Tonnage <br> (kt)** | **Gold Grade (g/t)** | **Contained Gold <br> (koz)** | **Tonnage <br> (kt)** | **Gold Grade (g/t)** | **Contained Gold <br> (koz)** |
| **Leprechaun** | **Leprechaun** | **Leprechaun** | **Leprechaun** | **Leprechaun** | **Leprechaun** | **Leprechaun** |
| Measured | 910 | 1.4 | 42 | 0 | 0 | 0 |
| Indicated | 3983 | 1.3 | 163 | 2 | 1.2 | 0.1 |
| **M+I** | 4893 | 1.3 | 205 | 2 | 1.2 | 0.1 |
| Inferred | 5610 | 1.1 | 195 | 27 | 1.1 | 2.1 |
| **Sprite** | **Sprite** | **Sprite** | **Sprite** | **Sprite** | **Sprite** | **Sprite** |
| Measured | 0 | 0 | 0 | 0 | 0 | 0 |
| Indicated | 1217 | 1.2 | 47 | 58 | 2 | 3.8 |
| **M+I** | **1217** | **1.2** | **47** | **58** | **2.0** | **3.8** |
| Inferred | 1524 | 1 | 50 | 99 | 1.7 | 4.7 |
| **Berry** | **Berry** | **Berry** | **Berry** | **Berry** | **Berry** | **Berry** |
| Measured | 1651 | 1.2 | 61 | 46 | 4.4 | 6.5 |
| Indicated | 6246 | 1.1 | 229 | 87 | 4.5 | 12.5 |
| **M+I** | **7897** | **1.1** | **290** | **133** | **4.4** | **19.0** |
| Inferred | 6731 | 1 | 216 | 101 | 2.6 | 8.4 |
| **Marathon** | **Marathon** | **Marathon** | **Marathon** | **Marathon** | **Marathon** | **Marathon** |
| Measured | 3818 | 1.1 | 133 | 3 | 3.1 | 0.3 |
| Indicated | 9679 | 1.3 | 401 | 3 | 3.1 | 0.3 |
| **M+I** | **13497** | **1.2** | **534** | **6** | **3.1** | **0.6** |
| Inferred | 13977 | 1.1 | 477 | 129 | 2.7 | 11.3 |
| **Victory** | **Victory** | **Victory** | **Victory** | **Victory** | **Victory** | **Victory** |
| Measured | 0 | 0 | 0 | 0 | 0 | 0 |
| Indicated | 1665 | 1.2 | 67 | 19 | 2 | 1.2 |
| **M+I** | **1665** | **1.2** | **67** | **19** | **2.0** | **1.2** |
| Inferred | 3430 | 1.3 | 139 | 361 | 2.2 | 25 |
| Notes: See table notes in Table 14-20. | Notes: See table notes in Table 14-20. | Notes: See table notes in Table 14-20. | Notes: See table notes in Table 14-20. | Notes: See table notes in Table 14-20. | Notes: See table notes in Table 14-20. | Notes: See table notes in Table 14-20. |

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| 14-46 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 14-23: Mineral Resource Estimate by Deposit, Inclusive of Mineral Reserves – Effective Date December 31, 2025

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Category** | **Open Pit** | **Open Pit** | **Open Pit** | **Underground** | **Underground** | **Underground** |
| **Category** | **>= 0.30 g/t Au** | **>= 0.30 g/t Au** | **>= 0.30 g/t Au** | **>= 1.21 g/t Au** | **>= 1.21 g/t Au** | **>= 1.21 g/t Au** |
| **Category** | **Tonnage <br> (kt)** | **Gold Grade (g/t)** | **Contained Gold <br> (koz)** | **Tonnage <br> (kt)** | **Gold Grade (g/t)** | **Contained Gold <br> (koz)** |
| **Leprechaun** | **Leprechaun** | **Leprechaun** | **Leprechaun** | **Leprechaun** | **Leprechaun** | **Leprechaun** |
| Measured | 5724 | 2.3 | 415 | 0 | 0 | 0 |
| Indicated | 12079 | 1.7 | 665 | 2 | 1.2 | 0.1 |
| **M+I** | **17803** | **1.9** | **1080** | **2** | **1.2** | **0.1** |
| Inferred | 5610 | 1.1 | 195 | 27 | 2.5 | 2.1 |
| **Sprite** | **Sprite** | **Sprite** | **Sprite** | **Sprite** | **Sprite** | **Sprite** |
| Measured | 0 | 0 | 0 | 0 | 0 | 0 |
| Indicated | 1217 | 1.2 | 47 | 58 | 2 | 3.8 |
| **M+I** | **1217** | **1.2** | **47** | **58** | **2.0** | **3.8** |
| Inferred | 1524 | 1 | 50 | 99 | 1.7 | 4.7 |
| **Berry** | **Berry** | **Berry** | **Berry** | **Berry** | **Berry** | **Berry** |
| Measured | 6013 | 2 | 380 | 46 | 4.4 | 6.5 |
| Indicated | 14615 | 1.4 | 660 | 87 | 4.5 | 12.5 |
| **M+I** | **20628** | **1.6** | **1040** | **133** | **4.4** | **19.0** |
| Inferred | 6731 | 1 | 216 | 101 | 2.6 | 8.4 |
| **Marathon** | **Marathon** | **Marathon** | **Marathon** | **Marathon** | **Marathon** | **Marathon** |
| Measured | 15240 | 1.6 | 790 | 3 | 3.1 | 0.3 |
| Indicated | 18742 | 1.4 | 860 | 3 | 3.1 | 0.3 |
| **M+I** | **33982** | **1.5** | **1650** | **6** | **3.1** | **0.6** |
| Inferred | 13977 | 1.1 | 477 | 129 | 2.7 | 11.3 |
| **Victory** | **Victory** | **Victory** | **Victory** | **Victory** | **Victory** | **Victory** |
| Measured | 0 | 0 | 0 | 0 | 0 | 0 |
| Indicated | 1665 | 1.2 | 67 | 19 | 2 | 1.2 |
| **M+I** | **1665** | **1.2** | **67** | **19** | **2.0** | **1.2** |
| Inferred | 3430 | 1.3 | 139 | 361 | 2.2 | 25 |
| **Stockpile Material mined from the Open pit** | **Stockpile Material mined from the Open pit** | **Stockpile Material mined from the Open pit** | **Stockpile Material mined from the Open pit** | **Stockpile Material mined from the Open pit** | **Stockpile Material mined from the Open pit** | **Stockpile Material mined from the Open pit** |
| Indicated | 1563 | 0.92 | 46 |  |  |  |
| **M+I** | **1563** | **0.92** | **46** |  |  |  |
| Notes: See table notes in Table 14-21. | Notes: See table notes in Table 14-21. | Notes: See table notes in Table 14-21. | Notes: See table notes in Table 14-21. | Notes: See table notes in Table 14-21. | Notes: See table notes in Table 14-21. | Notes: See table notes in Table 14-21. |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

14.10.3 Key Factors Influencing the 2025 Mineral Resource Estimate

Key updates incorporated into the 2025 Mineral Resource Estimate include the following:

&nbsp;&nbsp;&nbsp;&nbsp;· Incorporation of new drilling, particularly at the Berry, Sprite, and Victory deposits

&nbsp;&nbsp;&nbsp;&nbsp;· Optimization of mineralization domains, including improved treatment of internal waste and better control of domain extents outside QTPV units

&nbsp;&nbsp;&nbsp;&nbsp;· Updated lithological interpretations, including refinement of mafic dyke geometries at Marathon

&nbsp;&nbsp;&nbsp;&nbsp;· Re-interpretation of grade shells to better align with litho-structural controls and current mining performance

&nbsp;&nbsp;&nbsp;&nbsp;· Increase on block size in QTPV domains and increase sample support

&nbsp;&nbsp;&nbsp;&nbsp;· Updated variogram parameters

&nbsp;&nbsp;&nbsp;&nbsp;· New capping thresholds were established based on statistical analysis

&nbsp;&nbsp;&nbsp;&nbsp;· Reduction of extensive search ranges in Quartz monzonite and Trondhjemite domains to limit over-extrapolation

14.11 QP Conclusion

The Qualified Person has reviewed the geological interpretations, domain modelling, data validation procedures, estimation parameters, and validation results presented in this section and is satisfied that the 2025 Mineral Resource Estimate for the Valentine Gold Mine has been prepared in accordance with the CIM (2014) definitions and is suitable for public disclosure under NI 43-101. The drill hole database is considered reliable, the geological models appropriately reflect the current understanding of the deposit, and the estimation methodology, including capping, compositing, variography, search strategy, and interpolation, provides a reasonable and unbiased representation of the gold mineralization at the current level of drilling density.

The block model validations, including volume reconciliation, statistical comparisons, swath plots, Q–Q analyses, and detailed visual reviews, demonstrate that the model honours both the informing data and the interpreted geological controls. No material global or local biases were identified, and the Mineral Resource classification appropriately reflects the confidence supported by data density, geological continuity, and estimation performance. The QP is also not aware of any environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other relevant factors that could materially affect the Mineral Resource estimate.

Based on the work completed and the validation results obtained, the QP concludes that the 2025 Mineral Resource estimate provides a robust and defensible basis for mine planning, economic analysis, and future Mineral Reserve estimation, subject to the recommendations outlined above.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

15.0 Mineral Reserve Estimates

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.1 Introduction

The Mineral Reserves for the Valentine Gold Mine are a subset of the Measured and Indicated Mineral Resources described in Section 14.0 and are supported by feasibility-level engineering and early results from mine construction described in subsequent sections of this report, including the mine engineering summarized in Section 16.0. Mineral Reserves are contained within designed open pits. The Mineral Reserves were then run through a production schedule, in Hexagon MinePlan, which has been fed through a project financial model using capital and operating cost estimates that demonstrated the economic viability of the estimate. Measured and Indicated Mineral Resources within this engineered production plan are converted to Proven and Probable Mineral Reserves, respectively.

#### Table 15-1: Summary of Mineral Reserves – Effective Date December 31, 2025

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| | | | | |
|:---|:---|:---|:---|:---|
| **Mining Area** | **Reserve Class** | **Ore <br> (kt)** | **Grade<br> (g/t)** | **Contained Metal <br> (koz)** |
| Leprechaun | Proven | 5746 | 2.11 | 389 |
| Leprechaun | Probable | 8500 | 1.75 | 478 |
| Leprechaun | **Leprechaun Total** | **14245** | **1.89** | **867** |
| Berry | Proven | 4521 | 2.07 | 301 |
| Berry | Probable | 9343 | 1.45 | 435 |
| Berry | **Berry Total** | **13864** | **1.65** | **736** |
| Marathon | Proven | 11829 | 1.68 | 640 |
| Marathon | Probable | 9988 | 1.43 | 459 |
| Marathon | **Marathon Total** | **21817** | **1.57** | **1098** |
| Stockpiles as of December 31, 2025 | Proven | - | - | - |
| Stockpiles as of December 31, 2025 | Probable | 1563 | 0.92 | 46 |
| Stockpiles as of December 31, 2025 | **Stockpile Total** | **1563** | **0.92** | **46** |
| Subtotal | Proven | 22095 | 1.87 | 1330 |
| Subtotal | Probable | 29395 | 1.50 | 1418 |
| **Total** | **Proven and Probable** | **51490** | **1.66** | **2748** |
| Source: MMTS 2026.<br>Notes:<br>1. The Mineral Reserve estimates were prepared by Jeffrey Colden, P.Eng., reported using the CIM (2014) definitions, and have an effective date of December 31, 2025.<br>2. Mineral Reserves are mined tonnes and grade; the reference point is the mill feed at the primary crusher.<br>3. Mineral Reserves are reported at a cut-off grade of 0.45 g/t Au.<br>4. Cut-off grade assumes US$2,100/oz Au at a currency exchange rate of US$0.714 per C$1.00; 99.8% payable gold; US$5.00/oz off-site costs (refining and transport); and uses a 93.1% metallurgical recovery. The cut-off grade covers processing costs of C$22.75/t, administrative (G&A) costs of C$14.38/t, and a stockpile rehandle cost of C$1.85/t.<br>5. Mining loss and dilution is based on diluting the Resource model to a 6 m x 6 m x 6 m model and including additional mining losses estimated for the removal of isolated blocks (surrounded by waste) and low-grade (<0.55 g/t Au) blocks bounded by waste on three sides.<br>6. Numbers have been rounded as required by reporting guidelines and may not add.<br>7. The QP is not aware of any mining, metallurgical, infrastructure, permitting, or other relevant factors that could materially affect the Mineral Reserve estimate, unless outlined in this report. | Source: MMTS 2026.<br>Notes:<br>1. The Mineral Reserve estimates were prepared by Jeffrey Colden, P.Eng., reported using the CIM (2014) definitions, and have an effective date of December 31, 2025.<br>2. Mineral Reserves are mined tonnes and grade; the reference point is the mill feed at the primary crusher.<br>3. Mineral Reserves are reported at a cut-off grade of 0.45 g/t Au.<br>4. Cut-off grade assumes US$2,100/oz Au at a currency exchange rate of US$0.714 per C$1.00; 99.8% payable gold; US$5.00/oz off-site costs (refining and transport); and uses a 93.1% metallurgical recovery. The cut-off grade covers processing costs of C$22.75/t, administrative (G&A) costs of C$14.38/t, and a stockpile rehandle cost of C$1.85/t.<br>5. Mining loss and dilution is based on diluting the Resource model to a 6 m x 6 m x 6 m model and including additional mining losses estimated for the removal of isolated blocks (surrounded by waste) and low-grade (<0.55 g/t Au) blocks bounded by waste on three sides.<br>6. Numbers have been rounded as required by reporting guidelines and may not add.<br>7. The QP is not aware of any mining, metallurgical, infrastructure, permitting, or other relevant factors that could materially affect the Mineral Reserve estimate, unless outlined in this report. | Source: MMTS 2026.<br>Notes:<br>1. The Mineral Reserve estimates were prepared by Jeffrey Colden, P.Eng., reported using the CIM (2014) definitions, and have an effective date of December 31, 2025.<br>2. Mineral Reserves are mined tonnes and grade; the reference point is the mill feed at the primary crusher.<br>3. Mineral Reserves are reported at a cut-off grade of 0.45 g/t Au.<br>4. Cut-off grade assumes US$2,100/oz Au at a currency exchange rate of US$0.714 per C$1.00; 99.8% payable gold; US$5.00/oz off-site costs (refining and transport); and uses a 93.1% metallurgical recovery. The cut-off grade covers processing costs of C$22.75/t, administrative (G&A) costs of C$14.38/t, and a stockpile rehandle cost of C$1.85/t.<br>5. Mining loss and dilution is based on diluting the Resource model to a 6 m x 6 m x 6 m model and including additional mining losses estimated for the removal of isolated blocks (surrounded by waste) and low-grade (<0.55 g/t Au) blocks bounded by waste on three sides.<br>6. Numbers have been rounded as required by reporting guidelines and may not add.<br>7. The QP is not aware of any mining, metallurgical, infrastructure, permitting, or other relevant factors that could materially affect the Mineral Reserve estimate, unless outlined in this report. | Source: MMTS 2026.<br>Notes:<br>1. The Mineral Reserve estimates were prepared by Jeffrey Colden, P.Eng., reported using the CIM (2014) definitions, and have an effective date of December 31, 2025.<br>2. Mineral Reserves are mined tonnes and grade; the reference point is the mill feed at the primary crusher.<br>3. Mineral Reserves are reported at a cut-off grade of 0.45 g/t Au.<br>4. Cut-off grade assumes US$2,100/oz Au at a currency exchange rate of US$0.714 per C$1.00; 99.8% payable gold; US$5.00/oz off-site costs (refining and transport); and uses a 93.1% metallurgical recovery. The cut-off grade covers processing costs of C$22.75/t, administrative (G&A) costs of C$14.38/t, and a stockpile rehandle cost of C$1.85/t.<br>5. Mining loss and dilution is based on diluting the Resource model to a 6 m x 6 m x 6 m model and including additional mining losses estimated for the removal of isolated blocks (surrounded by waste) and low-grade (<0.55 g/t Au) blocks bounded by waste on three sides.<br>6. Numbers have been rounded as required by reporting guidelines and may not add.<br>7. The QP is not aware of any mining, metallurgical, infrastructure, permitting, or other relevant factors that could materially affect the Mineral Reserve estimate, unless outlined in this report. | Source: MMTS 2026.<br>Notes:<br>1. The Mineral Reserve estimates were prepared by Jeffrey Colden, P.Eng., reported using the CIM (2014) definitions, and have an effective date of December 31, 2025.<br>2. Mineral Reserves are mined tonnes and grade; the reference point is the mill feed at the primary crusher.<br>3. Mineral Reserves are reported at a cut-off grade of 0.45 g/t Au.<br>4. Cut-off grade assumes US$2,100/oz Au at a currency exchange rate of US$0.714 per C$1.00; 99.8% payable gold; US$5.00/oz off-site costs (refining and transport); and uses a 93.1% metallurgical recovery. The cut-off grade covers processing costs of C$22.75/t, administrative (G&A) costs of C$14.38/t, and a stockpile rehandle cost of C$1.85/t.<br>5. Mining loss and dilution is based on diluting the Resource model to a 6 m x 6 m x 6 m model and including additional mining losses estimated for the removal of isolated blocks (surrounded by waste) and low-grade (<0.55 g/t Au) blocks bounded by waste on three sides.<br>6. Numbers have been rounded as required by reporting guidelines and may not add.<br>7. The QP is not aware of any mining, metallurgical, infrastructure, permitting, or other relevant factors that could materially affect the Mineral Reserve estimate, unless outlined in this report. |

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| 15-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.2 Mineral Reserves Statement

Proven and Probable Mineral Reserves have been converted from Measured and Indicated Mineral Resources, in a feasibility-level mine plan, and are summarized in Table 15-1, with a cut-off grade of 0.45 g/t using a gold price of US$2,100/oz. Inferred Mineral Resources are not included in the Mineral Reserves and are sent to waste. Mineral Resources from the Victory and Sprite deposits, and any underground Mineral Resources, have not been included in the Feasibility Study mine plan or Mineral Reserves.

Mineral Reserves have been estimated using the CIM 2019 Best Practices Guidelines (CIM 2019) and are classified using the CIM (2014) definitions. Mill feed tonnes and gold grades are based on re-blocking the original 1.5 m x 1.5 m x 1.5 m model blocks to a selective mining unit (SMU) block size of 6 m x 6 m x 6 m. Further mining recovery parameters have been introduced, treating the following SMU blocks as waste: all isolated, mineralized blocks (blocks bounded by waste on all sides); and all blocks below 0.55 g/t gold grade that are bounded by waste on all but one side. In total, loss and dilution results in an increase of 17% of ore tonnes and a decrease of 15% to gold grade across all three models, when compared to the subcell model.

The recovery formula used in the estimation of Mineral Reserves is:

*Process recovery = 1.16% x in situ gold grade + 92.55%, capped at 96.5%*

The Mineral Reserves for all pit phases are shown in Table 15-2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.3 Factors that May Affect the Mineral Reserve Estimates

The Mineral Reserve estimates are based on the engineering and economic analysis described in Sections 16 to 22 of this report. Changes in the following factors and assumptions may affect the Mineral Reserve estimates:

&nbsp;&nbsp;&nbsp;&nbsp;· Metal prices

&nbsp;&nbsp;&nbsp;&nbsp;· Interpretations of mineralization and continuity of mineralization zones

&nbsp;&nbsp;&nbsp;&nbsp;· Geotechnical and hydrogeological assumptions

&nbsp;&nbsp;&nbsp;&nbsp;· Ability of the operation to meet the targeted annual production rate, mining dilution, and mining recovery

&nbsp;&nbsp;&nbsp;&nbsp;· Operating cost assumptions

&nbsp;&nbsp;&nbsp;&nbsp;· Mill throughput and recoveries

&nbsp;&nbsp;&nbsp;&nbsp;· Ability to meet and maintain permitting and environmental license conditions, as well as the ability to maintain the social license to operate.

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| 15-2 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 15-2: Proven & Probable Mineral Reserves within Designed Pits

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pit** | **Phase** | **Proven** | **Proven** | **Proven** | **Probable** | **Probable** | **Probable** | **Ore** | **Ore** | **Ore** |
| **Pit** | **Phase** | **Tonnage<br> (kt)** | **Grade (g/t)** | **Contained Metal (koz)** | **Tonnage<br> (kt)** | **Grade (g/t)** | **Contained Metal (koz)** | **Tonnage<br> (kt)** | **Grade (g/t)** | **Contained Metal (koz)** |
| Leprechaun | L631 | 2147 | 2.11 | 146 | 964 | 1.71 | 53 | 3110 | 1.99 | 199 |
| Leprechaun | L632 | 2137 | 1.76 | 121 | 3564 | 1.64 | 188 | 5701 | 1.68 | 309 |
| Leprechaun | L633 | 1462 | 2.60 | 122 | 3972 | 1.86 | 237 | 5434 | 2.06 | 359 |
| Berry | B631 | 1814 | 2.27 | 132 | 1780 | 1.60 | 92 | 3594 | 1.94 | 224 |
| Berry | B632 | 179 | 2.11 | 12 | 748 | 1.35 | 32 | 928 | 1.50 | 45 |
| Berry | B633 | 1315 | 1.82 | 77 | 2920 | 1.32 | 124 | 4235 | 1.48 | 201 |
| Berry | B634 | 245 | 2.64 | 21 | 1859 | 1.52 | 91 | 2104 | 1.65 | 112 |
| Berry | B635 | 968 | 1.90 | 59 | 2035 | 1.47 | 96 | 3003 | 1.61 | 155 |
| Marathon | M631 | 3656 | 1.77 | 208 | 1704 | 1.50 | 82 | 5360 | 1.68 | 290 |
| Marathon | M632 | 1244 | 1.62 | 65 | 1352 | 1.46 | 64 | 2596 | 1.54 | 128 |
| Marathon | M633 | 2772 | 1.59 | 142 | 1744 | 1.43 | 80 | 4516 | 1.53 | 222 |
| Marathon | M634 | 4156 | 1.68 | 225 | 5188 | 1.40 | 233 | 9345 | 1.53 | 458 |
| Stockpiles |  |  |  |  | 1563 | 0.92 | 46 | 1563 | 0.92 | 46 |
| **Total** |  | **22095** | **1.87** | **1330** | **29395** | **1.50** | **1418** | **51490** | **1.66** | **2748** |
| Notes:<br>1. The mineral reserve estimates were prepared by Jeffrey Colden, P.Eng., reported using the CIM (2014) definitions, and have an effective date of December 31, 2025.<br>2. Mineral Reserves are mined tonnes and grade; the reference point is the mill feed at the primary crusher.<br>3. Mineral Reserves are reported at a cut-off grade of 0.45 g/t Au.<br>4. Cut-off grade assumes US$2,100/oz Au at a currency exchange rate of US$0.714 per C$1.00; 99.8% payable gold; $5.00 USD/oz off-site costs (refining and transport); and uses an 93.1% metallurgical recovery. The cut-off grade covers processing costs of C$22.75/t, administrative (G&A) costs of C$14.38/t, and a stockpile rehandle cost of C$1.85/t.<br>5. Mining loss and dilution is based on diluting the Resource model to a 6 m x 6 m x 6 m, including additional mining losses estimated for the removal of isolated blocks (surrounded by waste) and low-grade (<0.55 g/t Au) blocks bounded by waste on three sides.<br>6. Numbers have been rounded as required by reporting guidelines and may not add.<br>7. The QP is not aware of any mining, metallurgical, infrastructure, permitting, or other relevant factors that could materially affect the Mineral Reserve estimate, unless outlined in this report. | Notes:<br>1. The mineral reserve estimates were prepared by Jeffrey Colden, P.Eng., reported using the CIM (2014) definitions, and have an effective date of December 31, 2025.<br>2. Mineral Reserves are mined tonnes and grade; the reference point is the mill feed at the primary crusher.<br>3. Mineral Reserves are reported at a cut-off grade of 0.45 g/t Au.<br>4. Cut-off grade assumes US$2,100/oz Au at a currency exchange rate of US$0.714 per C$1.00; 99.8% payable gold; $5.00 USD/oz off-site costs (refining and transport); and uses an 93.1% metallurgical recovery. The cut-off grade covers processing costs of C$22.75/t, administrative (G&A) costs of C$14.38/t, and a stockpile rehandle cost of C$1.85/t.<br>5. Mining loss and dilution is based on diluting the Resource model to a 6 m x 6 m x 6 m, including additional mining losses estimated for the removal of isolated blocks (surrounded by waste) and low-grade (<0.55 g/t Au) blocks bounded by waste on three sides.<br>6. Numbers have been rounded as required by reporting guidelines and may not add.<br>7. The QP is not aware of any mining, metallurgical, infrastructure, permitting, or other relevant factors that could materially affect the Mineral Reserve estimate, unless outlined in this report. | Notes:<br>1. The mineral reserve estimates were prepared by Jeffrey Colden, P.Eng., reported using the CIM (2014) definitions, and have an effective date of December 31, 2025.<br>2. Mineral Reserves are mined tonnes and grade; the reference point is the mill feed at the primary crusher.<br>3. Mineral Reserves are reported at a cut-off grade of 0.45 g/t Au.<br>4. Cut-off grade assumes US$2,100/oz Au at a currency exchange rate of US$0.714 per C$1.00; 99.8% payable gold; $5.00 USD/oz off-site costs (refining and transport); and uses an 93.1% metallurgical recovery. The cut-off grade covers processing costs of C$22.75/t, administrative (G&A) costs of C$14.38/t, and a stockpile rehandle cost of C$1.85/t.<br>5. Mining loss and dilution is based on diluting the Resource model to a 6 m x 6 m x 6 m, including additional mining losses estimated for the removal of isolated blocks (surrounded by waste) and low-grade (<0.55 g/t Au) blocks bounded by waste on three sides.<br>6. Numbers have been rounded as required by reporting guidelines and may not add.<br>7. The QP is not aware of any mining, metallurgical, infrastructure, permitting, or other relevant factors that could materially affect the Mineral Reserve estimate, unless outlined in this report. | Notes:<br>1. The mineral reserve estimates were prepared by Jeffrey Colden, P.Eng., reported using the CIM (2014) definitions, and have an effective date of December 31, 2025.<br>2. Mineral Reserves are mined tonnes and grade; the reference point is the mill feed at the primary crusher.<br>3. Mineral Reserves are reported at a cut-off grade of 0.45 g/t Au.<br>4. Cut-off grade assumes US$2,100/oz Au at a currency exchange rate of US$0.714 per C$1.00; 99.8% payable gold; $5.00 USD/oz off-site costs (refining and transport); and uses an 93.1% metallurgical recovery. The cut-off grade covers processing costs of C$22.75/t, administrative (G&A) costs of C$14.38/t, and a stockpile rehandle cost of C$1.85/t.<br>5. Mining loss and dilution is based on diluting the Resource model to a 6 m x 6 m x 6 m, including additional mining losses estimated for the removal of isolated blocks (surrounded by waste) and low-grade (<0.55 g/t Au) blocks bounded by waste on three sides.<br>6. Numbers have been rounded as required by reporting guidelines and may not add.<br>7. The QP is not aware of any mining, metallurgical, infrastructure, permitting, or other relevant factors that could materially affect the Mineral Reserve estimate, unless outlined in this report. | Notes:<br>1. The mineral reserve estimates were prepared by Jeffrey Colden, P.Eng., reported using the CIM (2014) definitions, and have an effective date of December 31, 2025.<br>2. Mineral Reserves are mined tonnes and grade; the reference point is the mill feed at the primary crusher.<br>3. Mineral Reserves are reported at a cut-off grade of 0.45 g/t Au.<br>4. Cut-off grade assumes US$2,100/oz Au at a currency exchange rate of US$0.714 per C$1.00; 99.8% payable gold; $5.00 USD/oz off-site costs (refining and transport); and uses an 93.1% metallurgical recovery. The cut-off grade covers processing costs of C$22.75/t, administrative (G&A) costs of C$14.38/t, and a stockpile rehandle cost of C$1.85/t.<br>5. Mining loss and dilution is based on diluting the Resource model to a 6 m x 6 m x 6 m, including additional mining losses estimated for the removal of isolated blocks (surrounded by waste) and low-grade (<0.55 g/t Au) blocks bounded by waste on three sides.<br>6. Numbers have been rounded as required by reporting guidelines and may not add.<br>7. The QP is not aware of any mining, metallurgical, infrastructure, permitting, or other relevant factors that could materially affect the Mineral Reserve estimate, unless outlined in this report. | Notes:<br>1. The mineral reserve estimates were prepared by Jeffrey Colden, P.Eng., reported using the CIM (2014) definitions, and have an effective date of December 31, 2025.<br>2. Mineral Reserves are mined tonnes and grade; the reference point is the mill feed at the primary crusher.<br>3. Mineral Reserves are reported at a cut-off grade of 0.45 g/t Au.<br>4. Cut-off grade assumes US$2,100/oz Au at a currency exchange rate of US$0.714 per C$1.00; 99.8% payable gold; $5.00 USD/oz off-site costs (refining and transport); and uses an 93.1% metallurgical recovery. The cut-off grade covers processing costs of C$22.75/t, administrative (G&A) costs of C$14.38/t, and a stockpile rehandle cost of C$1.85/t.<br>5. Mining loss and dilution is based on diluting the Resource model to a 6 m x 6 m x 6 m, including additional mining losses estimated for the removal of isolated blocks (surrounded by waste) and low-grade (<0.55 g/t Au) blocks bounded by waste on three sides.<br>6. Numbers have been rounded as required by reporting guidelines and may not add.<br>7. The QP is not aware of any mining, metallurgical, infrastructure, permitting, or other relevant factors that could materially affect the Mineral Reserve estimate, unless outlined in this report. | Notes:<br>1. The mineral reserve estimates were prepared by Jeffrey Colden, P.Eng., reported using the CIM (2014) definitions, and have an effective date of December 31, 2025.<br>2. Mineral Reserves are mined tonnes and grade; the reference point is the mill feed at the primary crusher.<br>3. Mineral Reserves are reported at a cut-off grade of 0.45 g/t Au.<br>4. Cut-off grade assumes US$2,100/oz Au at a currency exchange rate of US$0.714 per C$1.00; 99.8% payable gold; $5.00 USD/oz off-site costs (refining and transport); and uses an 93.1% metallurgical recovery. The cut-off grade covers processing costs of C$22.75/t, administrative (G&A) costs of C$14.38/t, and a stockpile rehandle cost of C$1.85/t.<br>5. Mining loss and dilution is based on diluting the Resource model to a 6 m x 6 m x 6 m, including additional mining losses estimated for the removal of isolated blocks (surrounded by waste) and low-grade (<0.55 g/t Au) blocks bounded by waste on three sides.<br>6. Numbers have been rounded as required by reporting guidelines and may not add.<br>7. The QP is not aware of any mining, metallurgical, infrastructure, permitting, or other relevant factors that could materially affect the Mineral Reserve estimate, unless outlined in this report. | Notes:<br>1. The mineral reserve estimates were prepared by Jeffrey Colden, P.Eng., reported using the CIM (2014) definitions, and have an effective date of December 31, 2025.<br>2. Mineral Reserves are mined tonnes and grade; the reference point is the mill feed at the primary crusher.<br>3. Mineral Reserves are reported at a cut-off grade of 0.45 g/t Au.<br>4. Cut-off grade assumes US$2,100/oz Au at a currency exchange rate of US$0.714 per C$1.00; 99.8% payable gold; $5.00 USD/oz off-site costs (refining and transport); and uses an 93.1% metallurgical recovery. The cut-off grade covers processing costs of C$22.75/t, administrative (G&A) costs of C$14.38/t, and a stockpile rehandle cost of C$1.85/t.<br>5. Mining loss and dilution is based on diluting the Resource model to a 6 m x 6 m x 6 m, including additional mining losses estimated for the removal of isolated blocks (surrounded by waste) and low-grade (<0.55 g/t Au) blocks bounded by waste on three sides.<br>6. Numbers have been rounded as required by reporting guidelines and may not add.<br>7. The QP is not aware of any mining, metallurgical, infrastructure, permitting, or other relevant factors that could materially affect the Mineral Reserve estimate, unless outlined in this report. | Notes:<br>1. The mineral reserve estimates were prepared by Jeffrey Colden, P.Eng., reported using the CIM (2014) definitions, and have an effective date of December 31, 2025.<br>2. Mineral Reserves are mined tonnes and grade; the reference point is the mill feed at the primary crusher.<br>3. Mineral Reserves are reported at a cut-off grade of 0.45 g/t Au.<br>4. Cut-off grade assumes US$2,100/oz Au at a currency exchange rate of US$0.714 per C$1.00; 99.8% payable gold; $5.00 USD/oz off-site costs (refining and transport); and uses an 93.1% metallurgical recovery. The cut-off grade covers processing costs of C$22.75/t, administrative (G&A) costs of C$14.38/t, and a stockpile rehandle cost of C$1.85/t.<br>5. Mining loss and dilution is based on diluting the Resource model to a 6 m x 6 m x 6 m, including additional mining losses estimated for the removal of isolated blocks (surrounded by waste) and low-grade (<0.55 g/t Au) blocks bounded by waste on three sides.<br>6. Numbers have been rounded as required by reporting guidelines and may not add.<br>7. The QP is not aware of any mining, metallurgical, infrastructure, permitting, or other relevant factors that could materially affect the Mineral Reserve estimate, unless outlined in this report. | Notes:<br>1. The mineral reserve estimates were prepared by Jeffrey Colden, P.Eng., reported using the CIM (2014) definitions, and have an effective date of December 31, 2025.<br>2. Mineral Reserves are mined tonnes and grade; the reference point is the mill feed at the primary crusher.<br>3. Mineral Reserves are reported at a cut-off grade of 0.45 g/t Au.<br>4. Cut-off grade assumes US$2,100/oz Au at a currency exchange rate of US$0.714 per C$1.00; 99.8% payable gold; $5.00 USD/oz off-site costs (refining and transport); and uses an 93.1% metallurgical recovery. The cut-off grade covers processing costs of C$22.75/t, administrative (G&A) costs of C$14.38/t, and a stockpile rehandle cost of C$1.85/t.<br>5. Mining loss and dilution is based on diluting the Resource model to a 6 m x 6 m x 6 m, including additional mining losses estimated for the removal of isolated blocks (surrounded by waste) and low-grade (<0.55 g/t Au) blocks bounded by waste on three sides.<br>6. Numbers have been rounded as required by reporting guidelines and may not add.<br>7. The QP is not aware of any mining, metallurgical, infrastructure, permitting, or other relevant factors that could materially affect the Mineral Reserve estimate, unless outlined in this report. | Notes:<br>1. The mineral reserve estimates were prepared by Jeffrey Colden, P.Eng., reported using the CIM (2014) definitions, and have an effective date of December 31, 2025.<br>2. Mineral Reserves are mined tonnes and grade; the reference point is the mill feed at the primary crusher.<br>3. Mineral Reserves are reported at a cut-off grade of 0.45 g/t Au.<br>4. Cut-off grade assumes US$2,100/oz Au at a currency exchange rate of US$0.714 per C$1.00; 99.8% payable gold; $5.00 USD/oz off-site costs (refining and transport); and uses an 93.1% metallurgical recovery. The cut-off grade covers processing costs of C$22.75/t, administrative (G&A) costs of C$14.38/t, and a stockpile rehandle cost of C$1.85/t.<br>5. Mining loss and dilution is based on diluting the Resource model to a 6 m x 6 m x 6 m, including additional mining losses estimated for the removal of isolated blocks (surrounded by waste) and low-grade (<0.55 g/t Au) blocks bounded by waste on three sides.<br>6. Numbers have been rounded as required by reporting guidelines and may not add.<br>7. The QP is not aware of any mining, metallurgical, infrastructure, permitting, or other relevant factors that could materially affect the Mineral Reserve estimate, unless outlined in this report. |

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| 15-3 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

16.0 Mining Methods

The Mineral Reserves stated in Section 15.0 are supported by the open pit mine planning summarized in this section.

Open pit mine designs, mine production schedules, mobile fleet productivities and mine capital and operating cost estimates have been developed for the Leprechaun, Berry, and Marathon deposits at a feasibility engineering by MMTS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.1 Key Design Criteria

The following mine planning design inputs were used:

&nbsp;&nbsp;&nbsp;&nbsp;· Topography is based on a survey of the region and updated to the October 2025 Month-end survey in Marathon pit and the December 2025 Month-end survey in Berry and Leprechaun pits.

&nbsp;&nbsp;&nbsp;&nbsp;· Re-blocked 6 m x 6 m x 6 m resource block model.

&nbsp;&nbsp;&nbsp;&nbsp;· Inferred Mineral Resources are treated as waste rock with no economic value.

&nbsp;&nbsp;&nbsp;&nbsp;· A grade-dependent gold process recovery is used for the pit optimization and cut-off grade estimations.

&nbsp;&nbsp;&nbsp;&nbsp;· Process recovery = 1.16% x in situ gold grade + 92.55%, capped at 96.5%.

&nbsp;&nbsp;&nbsp;&nbsp;· A break-even economic cut-off grade of 0.45 g/t Au is used.

&nbsp;&nbsp;&nbsp;&nbsp;· Stockpiles and haul roads are planned to minimize wetland, waterbody, and watercourse disturbance.

16.1.1 Ore Loss and Dilution

The initial subcell models are based on a 1.5 m x 1.5 m x 1.5 m block size. For mine planning and Mineral Reserve estimation, these blocks have been combined to a selective mining unit (SMU) size of 6 m x 6 m x 6 m, which accounts for planned open pit mine operating conditions. This re-blocking to 6 m SMU blocks introduces 20.4% dilution and 1.6% loss to the Leprechaun model, 20.4% dilution and 3.0% loss to the Berry model, and 16.3% dilution and 0.9% loss to the Marathon model, when measured at a 0.45 g/t gold cut-off grade, included in the Mineral Resources.

Further mining recovery parameters have been introduced, removing from the Mineral Reserves the following:

&nbsp;&nbsp;&nbsp;&nbsp;· all isolated mineralized blocks (blocks bounded by waste on all sides)

&nbsp;&nbsp;&nbsp;&nbsp;· all blocks below 0.55 g/t gold grade that are bounded by waste on all but one side

These additional parameters result in a total loss and dilution of 17% of ore tonnes and -15% to gold grade across all three models, when compared to the subcell model.

This approach to calculating dilution and loss is considered appropriate for the current mine plan, as the calculated 6 m re-blocked mill feed gold grades will be representative of the diluted run-of-mine material that the operator will be able to achieve when pursuing the throughputs targeted in this mine plan. With October 2025 month-end data ore movement to date, this methodology was reconciled with 6% additional material and -4% gold ounce losses. While understanding that the mill data was not available to be incorporated into this analysis and with expected operational performance improvements as the mine moves into production, the QP considers the methodology to be validated in the field.

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| 16-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

16.1.2 Bulk Mining and Selective Mining

A "selective" method of mining will be employed in certain areas of the Marathon, Leprechaun, and Berry deposits to enhance grade control. Flitch mining of the ore is planned due to the lack of vertical continuity of the ore body. The flitches will be mined like mini-benches, on a blast-by-blast basis. The following assumptions are made for the selective mining process:

&nbsp;&nbsp;&nbsp;&nbsp;· 6 m bench height

&nbsp;&nbsp;&nbsp;&nbsp;· 3 m flitches

&nbsp;&nbsp;&nbsp;&nbsp;· 12 m<sup>3</sup> loader in a backhoe configuration

Based on current experience in the field, the amount of selective mining is assumed to be all of ore, along with an equal amount of waste in each period. The total amount of selective mining is limited by the total amount of material mined in each period. Quantities of bulk and selectively mined material are tracked through the mine production schedule and equipment fleet plans for the Project. For mine fleet planning and costing, all ore, and an equal amount of waste, to a maximum of the total material in the period are handled via planned selective mining methods.

16.1.3 Pit Slopes

The pit slope criteria are based on 2021 to 2023 geotechnical reports by Terrane Geoscience Inc. (Terrane 2021, 2022, 2023). Field data collection consisted of detailed geotechnical drillhole logging, oriented core logging, index strength tests, packer testing, geomechanical laboratory sample collection, and optical/acoustic televiewer surveying. Geomechanical lab testing included unconfined compressive strength, triaxial compressive strength, direct shear, and brazilian tensile testing.

Geotechnical models of the Marathon, Leprechaun and Berry deposit areas were compiled and consist of geological models, structural models (fabrics and major structures), rock mass models, and hydrogeological models.

Feasibility-level slope design takes into consideration an analysis of the overall slope stability of a pit wall (i.e., all the benches, berms, and ramps from the pit floor to the surface), inter-ramp slope stability and the bench design (i.e., bench width, bench face angle, and bench height). The overall slope angle, inter-ramp angle, and the bench face angles are then designed based on acceptance criterion for probability of failure (PoF) and factor of safety (FOS).

Pit designs are configured on initial 6 m bench heights, with 8.1 m wide berms placed every three benches, or triple benching. Bench face angles, and subsequent inter-ramp angles, are varied based on prescribed geotechnical design sectors.

The design sectors, bench face angles, and inter-ramp slopes presented in the tables below were designed by Terrane utilising the pit shells presented in the 2022 Valentine Gold Project NI 43-101 report (Marathon Gold 2022). A review of the updated pit shells, presented in this report, for the Marathon, Leprechaun, and Berry pits, was completed by Terrane in 2026 to ensure compliance with all pit slope design recommendations. A geotechnical analysis of the intermediate pit phases was not completed by Terrane as part of this report.

Bench face and inter-ramp slopes in the defined design sectors are listed in Table 16-1 for Leprechaun, Table 16-2 for Berry, and Table 16-3 for Marathon. Defined geotechnical design sectors are illustrated in Figure 16-1 for Leprechaun, Figure 16-2 for Berry, and Figure 16-3 for Marathon.

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| 16-2 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 16-1: Leprechaun Bench Face Inter-Ramp Angle Inputs

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| | | | | |
|:---|:---|:---|:---|:---|
| **Domain** | **Design Sector<br> Figure 16-1** | **Bench Face <br> Angle (º)** | **Inter-Ramp <br> Angle (º)** | **Overall <br> Slope\* (º)** |
| Overburden | All | 25 | 25 | 25 |
| South | 5 | 62 | 46 | 39 |
| Southeast | 4 | 70 | 51 | 41 |
| NW and End Walls | 1 to 3, 6 to 7 | 80 | 58 | 46 |

---

\*Overall slope angles are inputs for pit optimizations only.

#### Table 16-2: Berry Bench Face Inter-Ramp Angle Inputs

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| | | | | |
|:---|:---|:---|:---|:---|
| **Domain** | **Design Sector<br> (Figure 16-2)** | **Bench Face <br> Angle (º)** | **Inter-Ramp <br> Angle (º)** | **Overall <br> Slope\* (º)** |
| Overburden | All | 25 | 25 | 25 |
| South | SW-C-1, SW-1-5, C-C-1, C-I-3, C-I-4, NE-C-1, NE-I-3, NE-1-4 | 72 | 52 | 40 |
| North | SW-I-1, SW-I-2, SW-I-3, SW-I-4, C-I-1, C-I-2, NE-I-1, NE-I-2 | 80 | 58 | 45 |
| East | C-C-2, NE-C-2 | 76 | 55 | 43 |

---

\*Overall slope angles are inputs for pit optimizations only.

#### Table 16-3: Marathon Bench Face & Inter-Ramp Angle Inputs

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| | | | | |
|:---|:---|:---|:---|:---|
| **Domain** | **Design Sector**<br>**(Figure 16-3)**<br>| **Bench Face <br> Angle (º)** | **Inter-Ramp <br> Angle (º)** | **Overall <br> Slope\* (º)** |
| Overburden | All | 25 | 25 | 25 |
| Southeast | 6 | 77 | 56 | 46 |
| NW, NE and SW | 1 to 5, 7 to 9 | 80 | 58 | 47.5 |

---

\*Overall slope angles are inputs for pit optimizations only.

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|:---|:---|
| 16-3 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-1: Pit Slope Design Sectors - Leprechaun
Source: Terrane 2022.

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|:---|:---|
| 16-4 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-2: Pit Slope Design Sectors – Berry
Source: Terrane 2023.

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|:---|:---|
| 16-5 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-3: Pit Slope Design Sectors – Marathon
Source: Terrane 2021.

In-pit haul roads and geotechnical berms (25 m wide) are added to the pit designs and flatten the overall slopes. Wherever in-pit ramps are not present, geotechnical berms are placed at 90 m vertical spacing for Marathon and Leprechaun and 108 m vertical spacing for Berry.

A 12 m wide berm is left at the bedrock contact with overburden. Groundwater flow is estimated to be higher along this bedrock contact. This berm is added to catch potential sloughing from the overburden above, control surface water and allow sufficient room for water management features to be constructed and maintained.

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| 16-6 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Designs assume that controlled blasting (pre-split and/or trim blasting), slope dewatering and slope depressurization, routine bench face maintenance, geotechnical slope monitoring, and on-going data collection will be completed throughout the life of the mine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.2 Pit Optimization

The economic pit limits are determined using the Pseudoflow algorithm. This algorithm uses the ore grades and specific gravity (SG) for each block of the re-blocked mine planning 3D block model and evaluates the costs and revenues of the blocks within potential pit shells. The algorithm uses input economic and engineering parameters and expands downwards and outwards until the last increment is at break-even economics.

Additional cases are included in the analysis to evaluate the sensitivities of resources to strip ratio and high-grade/low-grade areas of the deposit. In this study, the various cases or pit shells are generated by varying the input gold price and comparing the resultant waste and mill feed tonnages and gold grades for each pit shell.

The generated pit shells are evaluated by using the design gold price input while keeping inputs for costs, metallurgical recoveries, and pit slopes constant, which determines where incremental pit shells produce marginal or negative economic returns. This reduction in economic returns is due to increasing strip ratios, decreasing gold grades, and increased mining total cost associated with the larger or deeper pit shells.

The economic margins from the expanded cases are evaluated on a relative basis to provide payback on capital and produce a return for the project. At some point, further expansion does not provide significant added value. A pit limit can then be chosen that has suitable economic return for the deposit.

For each pit shell, an undiscounted cash flow (UCF) is generated based on the shell contents and the economic parameters listed in Table 16-4. The UCFs for each case are compared to reinforce the selected point at which increased pit expansions do not increase the project value, and to confirm that the designed pits that the operations are currently using are still economically justifiable. Note that the economics are only applied for comparative purposes to assist in the selection of an optimum pit shell for further mine planning; they do not reflect the actual financial results of the mine plan.

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| 16-7 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 16-4: Price and Operating Cost Inputs into Pseudoflow Shell Runs

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| | |
|:---|:---|
| &nbsp;&nbsp;**Item** | &nbsp;&nbsp;**Unit** |
| &nbsp;&nbsp;Gold Price | &nbsp;&nbsp;US$2,100/oz |
| &nbsp;&nbsp;Foreign Exchange (USD:CAD) | &nbsp;&nbsp;0.7 : 1 |
| &nbsp;&nbsp;Payable Gold | &nbsp;&nbsp;99.8% |
| &nbsp;&nbsp;Off-Site Costs | &nbsp;&nbsp;US$5/oz Au (refining and doré transport) |
| &nbsp;&nbsp;Royalties | &nbsp;&nbsp;3% |
| &nbsp;&nbsp;Pit Rim Mining Cost<br> Pit Rim 386 m in Leprechaun<br> Pit Rim 350 m in Berry<br> Pit Rim 420 m in Marathon | &nbsp;&nbsp;US$2.35/t for mining ore and waste |
| &nbsp;&nbsp;Incremental Haulage Cost | &nbsp;&nbsp;US$0.0105/t for mining ore and waste |
| &nbsp;&nbsp;Processing Cost | &nbsp;&nbsp;US$15.93/t milled |
| &nbsp;&nbsp;General / Administration Cost | &nbsp;&nbsp;US$10.07/t milled |
| &nbsp;&nbsp;Stockpile Rehandling Cost | &nbsp;&nbsp;US$1.30/t milled |
| &nbsp;&nbsp;Source: MMTS 2026. |  |

---

16.2.1 Optimization Results

Figure 16-4, Figure 16-5, and Figure 16-6 show the contents of the generated Pseudoflow pit shells for each pit, with the pit design mill feed tonnes and value shown as points. The pit design is matched to the selected gold price case by matching the shell with the closest mill feed. The final pits have 4.5% less mill feed and 4.5% more waste than the selected economic shells.

#### Figure 16-4: Leprechaun Pseudoflow Pit Shell Resource Contents by Case
Source: MMTS 2026.

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|:---|:---|
| 16-8 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-5: Berry Pseudoflow Pit Shell Resource Contents by Case
Source: MMTS 2026.

#### Figure 16-6: Marathon Pseudoflow Pit Shell Resource Contents by Case
Source: MMTS 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.3 Pit Designs

Pits are designed based on Pseudoflow pit shells, incorporating in-pit haul roads, geotechnical berms, and minimum mining widths that are needed to make the pit safely mineable. The contents for each designed pit phase are presented graphically in Figure 16-7.

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| 16-9 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

The 12 m wide berm at the base of the overburden contact discussed in Section 16.1.3 is omitted from these pit designs, as the modelled overburden thickness is typically shallow at the edge of the pit.

16.3.1 In-Pit Haul Roads

Two-way haul roads of 28 m width are sized to handle 133-tonne rigid frame haul trucks. Haul road grades are limited to a maximum of 10%. Access ramps are not designed for the last 12 vertical metres of the pit bottom, on the assumption that the bottom ramp segment will be removed using some form of retreat mining. Above this, the bottom two ramped benches of the pit use one-way haul roads of 19 m width (single lane for 90-tonne rigid frame trucks) and maximum 12% grade since bench volumes and traffic flow are reduced.

#### Figure 16-7: Designed Phase Pit Contents (All Deposits)
Source: MMTS 2026.

16.3.2 Pit Phases

Ultimate pit limits are generally split up into phases or pushbacks to target higher economic margin material earlier in the mine life. The QP used a minimum pushback distance of 60 m to maintain productive headings. The Leprechaun pit is split into three phases with the higher-grade, lower-strip-ratio Phase 1 mined ahead of the two pushbacks. The Berry pit is split into five phases. The Marathon pit is split into four phases.

16.3.3 Leprechaun Pit Designs

The phased Leprechaun pit designs are shown in Figure 16-8 to Figure 16-10. Sections through the deposit showing gold grades are illustrated in Figure 16-11 and Figure 16-14.

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| 16-10 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Leprechaun Phase 1, L631 – This phase targets the high-grade, low-strip-ratio central portion of the deposit. This phase contains about 15 months' worth of mill feed, at pre-expansion mill throughput. This phase is in progress as of the end of 2025 and continues mining from the active bench at the 368 m elevation, down to the pit bottom at the 260 m elevation. The main ramp runs clockwise down from the pit exit in the southwest. A geotechnical berm is left on the west side at 350 m.

Leprechaun Phase 2, L632 – This phase targets deeper, higher-strip-ratio mineralization below Phase 1, pushing out in the north to southeast directions. This phase mines from the pit exit at the 380 m elevation, down to the pit bottom at the 146 m elevation. The ramp for Phase 2 starts from the Phase 1 ramp at 362 m, proceeds clockwise down to a switchback at 248 m, then finishes in a counterclockwise direction to the pit bottom. Geotechnical berms are left behind at multiple elevations.

Leprechaun Phase 3, L633 – This phase is the final phase and pushes out in the west and south directions, targeting the remaining deep mineralization. This phase mines from the pit exit at the 380 m elevation, down to the pit bottom at the 80 m elevation. The main ramp starts counterclockwise down from the pit exit in the south of the pit switchbacks at the 350 and 230 m elevation and finishes counterclockwise to the bottom of the pit. Geotechnical berms are left behind at various elevations.

#### Figure 16-8: Leprechaun Phase 1 Pit, L631
Source: MMTS 2026.

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| 16-11 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-9: Leprechaun Phase 2 Pit, L632
Source: MMTS 2026.

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|:---|:---|
| 16-12 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-10: Leprechaun Phase 3 Pit, L633
Source: MMTS 2026.

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| 16-13 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-11: Leprechaun Pit Designs, North-South Section 1
Source: MMTS 2026.

Note: NS1 as shown in Figure 16-10.

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| 16-14 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-12: Leprechaun Pit Designs, North-South Section 2
Source: MMTS 2026.

Note: NS2 as shown in Figure 16-10.

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| 16-15 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-13: Leprechaun Pit Designs, East-West Section 1
Source: MMTS 2026.

Note: EW1 as shown in Figure 16-10.

#### Figure 16-14: Leprechaun Pit Designs, East-West Section 2
Source: MMTS 2026.

Note: EW2 as shown in Figure 16-10.

16.3.4 Berry Pit Designs

The phased Berry pit designs are shown in Figure 16-15 to Figure 16-19. Sections through the deposit showing gold grades are illustrated in Figure 16-20 to Figure 16-27.

The Berry Pit consists of three connected lobes in a line, following the trend of the deposit roughly southwest to northeast.

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| 16-16 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Berry Phase 1, B621 – This phase targets the low-strip-ratio portions of the deposit in the southwest lobe. This phase contains about 18 months' worth of mill feed at pre-expansion mill throughput. The phase mines from the pit exit at the 430 m elevation, down to the primary Phase 1 bottom at the 252 m elevation. The phase ramp exit is at the northeast corner and continues counterclockwise down. There is a small extension to the northeast that will be mined to a separate bottom at 366 m elevation.

Berry Phase 2, B622 – This phase targets the low-strip-ratio portions of the deposit in the northeast lobe. This phase contains about five months' worth of mill feed at pre-expansion mill throughput. The pit mines from the pit exit at the 415 m elevation, down to the phase bottom at the 330 m elevation. The main ramp starts on the east side of the phase and runs clockwise down to the phase bottom.

Berry Phase 3, B623 – This phase targets the higher-strip-ratio portions of the deposit in the southwest lobe. It pushes out from Phase 1 in all directions, except where the Phase 1 extension already mined to 366 m. The phase mines from the pit exit at the 425 m elevation, down to the primary phase bottom at the 204 m elevation. The phase ramp exit is at the northwest corner and continues counterclockwise down. A geotechnical berm is left at 378 m.

Berry Phase 4, B624 – This phase targets the higher-strip-ratio portions of the deposit in the northeast lobe. It pushes out from Phase 3 in all directions. The phase mines from the pit exit at the 420 m elevation, down to the phase bottom at the 210 m elevation. The phase ramp exit is at the west side and continues counterclockwise down.

Berry Phase 5, B625 – This phase is the final phase targeting the remaining higher strip ratio mineralization in between the southwest (B621/623) and northeast (B622/624) lobes. This phase mines the area in between the previous phases, resulting in a single continuous Berry pit. Saddles are left at 354 m between this phase and Phases 1/3, and at 396 m between Phases 2/4. Once 414 m bench in Phase 5 is mined out, Phase 2/4 will use the same pit exit as Phase 5. This phase mines from the pit exit at the 420 m elevation, down to the pit bottom at the 198 m elevation. The ramp runs clockwise down from the pit exit. A geotechnical berm is left at 378 m.

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| 16-17 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-15: Berry Phase 1 Pit, B631
Source: MMTS 2026.

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|:---|:---|
| 16-18 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-16: Berry Phase 2 Pit, B632
Source: MMTS 2026.

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|:---|:---|
| 16-19 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-17: Berry Phase 3 Pit, B633
Source: MMTS 2026.

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|:---|:---|
| 16-20 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-18: Berry Phase 4 Pit, B634
Source: MMTS 2026.

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|:---|:---|
| 16-21 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-19: Berry Phase 5 Pit, B635
Source: MMTS 2026.

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| 16-22 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-20: Berry Pit Designs, North-South Section 1
Source: MMTS 2026.

Note: NS1 as shown in Figure 16-19.

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| 16-23 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-21: Berry Pit Designs, North-South Section 2
Source: MMTS 2026.

Note: NS2 as shown in Figure 16-19.

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| 16-24 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-22: Berry Pit Designs, North-South Section 3
Source: MMTS 2026.

Note: NS3 as shown in Figure 16-19.

#### Figure 16-23: Berry Pit Designs, East-West Section 1
Source: MMTS 2026.

Note: EW1 as shown in Figure 16-19.

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| 16-25 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-24: Berry Pit Designs, East-West Section 2
Source: MMTS 2026.

Note: EW2 as shown in Figure 16-19.

#### Figure 16-25: Berry Pit Designs, East-West Section 3
Source: MMTS 2026.

Note: EW3 as shown in Figure 16-19.

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| 16-26 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-26: Berry Pit Designs, East-West Section 4
Source: MMTS 2026.

Note: EW4 as shown in Figure 16-19.

#### Figure 16-27: Berry Pit Designs, East-West Section 5
Source: MMTS 2026.

Note: EW5 as shown in Figure 16-19

16.3.5 Marathon Pit Designs

The phased Marathon pit designs are discussed below and shown in Figure 16-28 to Figure 16-31. Sections through the deposit showing gold grades are illustrated in Figure 16-32 and Figure 16-36.

Marathon Phase 1, M631 – This phase targets the high-grade, low-strip-ratio northeastern portion of the deposit. This phase contains about two years' worth of mill feed at pre-expansion mill throughput. It mines from the pit exit at the 340 m elevation, down to the phase bottom at the 170 m elevation. The main ramp runs counterclockwise down from the pit exit in the north.

Marathon Phase 2, M632 – This phase targets the southwestern portion of shallower, lower strip ratio mineralization, expanding the pit to the southwest. This phase mines from the pit exit at the 345 m elevation, down to the two pit bottoms, both at the 206 m elevation. The main ramp runs counterclockwise from the pit exit in the north of the pit, with a small clockwise section between switchbacks at 308 and 278 m. A saddle is left between Phase 1 and Phase 2 at 296 m. A geotechnical berm is left at 314 m elevation.

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| 16-27 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Marathon Phase 3, M633 – This phase targets higher strip ratio mineralization below Phase 1. It pushes out around Phase 1 in all directions, and then mines down to the phase bottom of 104 m. This phase mines from the pit exit at the 370 m elevation. The main ramp runs counterclockwise down from the pit exit in the south of the pit. A saddle is left between Phase 2 and Phase 3 at about 236 m elevation. A geotechnical berm is left at 242 m elevation.

Marathon Phase 4, M634 – This phase targets higher strip ratio mineralization below the previous phases, and it pushes out in all directions. This phase mines from the pit exit at the 350 m elevation, down to the pit bottom at the 2 m elevation. The main ramp runs clockwise down from the pit exit in the west of the pit. Geotechnical berms are left behind at various elevations.

#### Figure 16-28: Marathon Phase 1 Pit, M631
Source: MMTS 2026.

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| 16-28 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-29: Marathon Phase 2 Pit, M632
Source: MMTS 2026.

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|:---|:---|
| 16-29 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-30: Marathon Phase 3 Pit, M633
Source: MMTS 2026.

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|:---|:---|
| 16-30 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-31: Marathon Phase 4 Pit, M634
Source: MMTS 2026.

#### Figure 16-32: Marathon Pit Designs, North-South Section 1
Source: MMTS 2026.

Note: NS1 as shown in Figure 16-31.

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| 16-31 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-33: Marathon Pit Designs, North-South Section 2
Source: MMTS 2026.

Note: NS2 as shown in Figure 16-31.

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| 16-32 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-34: Marathon Pit Designs, North-South Section 3
Source: MMTS 2026.

Note: NS3 as shown in Figure 16-31.

#### Figure 16-35: Marathon Pit Designs, East-West Section 1
Source: MMTS 2026.

Note: EW1 as shown in Figure 16-31.

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| 16-33 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-36: Marathon Pit Designs, East-West Section 2
Source: MMTS 2026.

Note: EW1 as shown in Figure 16-31.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.4 Ex-Pit Haul Roads

Mine haul roads external to the open pits are designed to haul ore and waste materials from the open pits to the scheduled destinations. The mine haul roads are designed with the following key inputs:

&nbsp;&nbsp;&nbsp;&nbsp;· 35 m wide ex-pit haul roads that incorporate a dual-lane running width and shoulder barriers on both edges of the haul road

&nbsp;&nbsp;&nbsp;&nbsp;· sized to handle 133-tonne rigid frame haul trucks

&nbsp;&nbsp;&nbsp;&nbsp;· 10% maximum grade.

The ex-pit haul roads are shown in the project layout drawing (Figure 16-37).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.5 Ore Storage Facilities

Cut-off grade optimization has been carried out on the mine production schedule. Ore grades are divided into four grade bins:

1 High-grade (HG) ore has a grade equal to or larger than 1.5 g/t

2 High medium-grade (HMG) ore has a grade equal to or larger than 1.00 g/t, but less than 1.50 g/t

3 Medium-grade (MG) ore has a grade equal to or larger than 0.70 g/t, but less than 1.00 g/t

4 Low-grade (LG) ore has a grade equal to or larger than 0.45 g/t, but less than 0.70 g/t

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| 16-34 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

When ore is mined from the pit, it will either be delivered to the crusher or the ore stockpiles. The crusher, the ROM stockpile for HG ore, and additional stockpiles for HMG and MG ore are located 3.5 km southwest of the Marathon pit limits, 3.0 km northeast of the Leprechaun pit limits and 1.0 km south of the Berry pit limits. Stockpiles for LG ore are stored between the pit and the mill.

The capacity of ore stockpiles is larger than the scheduled maximum ore stockpile balance. This accounts for realizing Inferred material that is not currently scheduled as ore, finding additional mill feed during RC drilling, and unplanned mill downtime. Specifically:

&nbsp;&nbsp;&nbsp;&nbsp;· HG ore does not stay in stockpile for long, as it is the priority mill feed, so the ROM HG stockpile is not designed with excess capacity.

&nbsp;&nbsp;&nbsp;&nbsp;· The combined HMG and MG stockpile is 85% larger than the scheduled maximum inventory.

&nbsp;&nbsp;&nbsp;&nbsp;· The Berry & Marathon and Leprechaun LG stockpiles are 168% and 190% larger than scheduled maximum inventory, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;· At the Effective Date, stockpiles already existed for all grade bins. The actual inventories from December Month-end, 2025, are used in the schedule as a starting balance defined by a total tonnage and average grade.

&nbsp;&nbsp;&nbsp;&nbsp;· Stockpiled ore is reclaimed to the mill as needed to supplement mill feed. Higher-grade ore is preferentially fed to the mill in most cases, so if higher grade ore is available in stockpile, it is reclaimed to the mill, and the lower grade ore is stockpiled. Once higher-grade ore is unavailable, either directly from the pits or from a stockpile, lower-grade ore is sent directly to the crusher or reclaimed from the stockpile as needed to achieve target mill throughput.

The ore stockpiles are shown in the project layout drawing Figure 16-37.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.6 Waste Storage Facilities and Stockpiles

Waste rock and overburden (OB) /topsoil (TS) storage facilities are planned at each site for waste materials from the open pit. In general, design considerations assumed the following:

&nbsp;&nbsp;&nbsp;&nbsp;· bottom-up construction

&nbsp;&nbsp;&nbsp;&nbsp;· 10 m lift heights for overburden/topsoil

&nbsp;&nbsp;&nbsp;&nbsp;· 15 m lift heights for waste rock

&nbsp;&nbsp;&nbsp;&nbsp;· 34° active slopes of overburden/topsoil lifts

&nbsp;&nbsp;&nbsp;&nbsp;· berm allowances push slopes out to 15° overall on overburden/topsoil piles

&nbsp;&nbsp;&nbsp;&nbsp;· 37° active slopes on waste rock lifts

&nbsp;&nbsp;&nbsp;&nbsp;· berm allowances push slopes out to 20° overall on waste rock piles, allowing for later reclamation

&nbsp;&nbsp;&nbsp;&nbsp;· minimize disturbance to existing waterbodies and watercourses.

The capacity and scheduled placement to each facility is shown in Table 16-5.

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| 16-35 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 16-5: Waste Facility Capacity and Scheduled Placement

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Facility** | &nbsp;&nbsp;**LOM Material Scheduled <br> (kt)** | &nbsp;&nbsp;**Capacity <br> (kt)** | &nbsp;&nbsp;**LOM <br> Scheduled<br> / Capacity** |
| &nbsp;&nbsp;Leprechaun WRSF | &nbsp;&nbsp;184977 | &nbsp;&nbsp;208531 | &nbsp;&nbsp;88.7% |
| &nbsp;&nbsp;Berry WRSF | &nbsp;&nbsp;238161 | &nbsp;&nbsp;242210 | &nbsp;&nbsp;98.3% |
| &nbsp;&nbsp;Marathon North WRSF | &nbsp;&nbsp;153337 | &nbsp;&nbsp;153523 | &nbsp;&nbsp;99.9% |
| &nbsp;&nbsp;Marathon South WRSF | &nbsp;&nbsp;30073 | &nbsp;&nbsp;30073 | &nbsp;&nbsp;100.0% |
| &nbsp;&nbsp;Leprechaun OB | &nbsp;&nbsp;908 | &nbsp;&nbsp;3171 | &nbsp;&nbsp;28.6% |
| &nbsp;&nbsp;Marathon-Berry OB | &nbsp;&nbsp;7329 | &nbsp;&nbsp;12277 | &nbsp;&nbsp;59.7% |
| &nbsp;&nbsp;Leprechaun TS | &nbsp;&nbsp;48 | &nbsp;&nbsp;601 | &nbsp;&nbsp;8.0% |
| &nbsp;&nbsp;Berry TS | &nbsp;&nbsp;199 | &nbsp;&nbsp;1778 | &nbsp;&nbsp;11.2% |
| &nbsp;&nbsp;Marathon TS | &nbsp;&nbsp;187 | &nbsp;&nbsp;409 | &nbsp;&nbsp;45.8% |
| &nbsp;&nbsp;Source: MMTS 2026. | &nbsp;&nbsp;Source: MMTS 2026. | &nbsp;&nbsp;Source: MMTS 2026. | &nbsp;&nbsp;Source: MMTS 2026. |

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| 16-36 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-37: Overall Site Layout Plan

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| 16-37 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Test work suggests that some of the waste rock from all three deposits is potentially acid generating. The estimated proportion of waste rock with acid generating potential (including rock classified as either PAG or uncertain) is up to 4.0% from the Marathon pit, 1.0% from the Leprechaun pit, and 11% from the Berry pits. As mining progresses, waste rock and overburden are tested for acid potential. The overburden sample rate is one sample per 50 kt, and the rock sample rate is one sample per 9,000 kt. Identified potentially acid generating materials will be placed within the WRSFs, encapsulated by non-acid producing waste rock. The operational details of this are described in the Valentine Gold Mine Acid Rock Drainage and Metal Leaching (ARD/ML) Management Plan.

Waste rock from the Leprechaun pit will be stored directly southeast of the pit limits and built up to a crest elevation of 520 m. Topsoil from the pit will be stored in a pile 1.0 km northeast of the pit limits and overburden will be stored in a pile directly south of the pit limits to a crest elevation of 395 m.

Waste rock from the Berry pit will be stored directly north of the pit limits and built up to a crest elevation of 475 m, as well as backfilled into the mined out northeast lobe of the Berry pit with some overflow going to the Leprechaun WRSF. Topsoil from the pit will be stored in a pile 1.0 km southwest of the pit limits and overburden will be stored in a pile 1.5 km northeast of the pit limits. Overburden from Marathon and Berry are stored in the same facility, building up to a crest elevation of 420 m.

Waste rock from the Marathon pit will be stored in two piles directly northwest and southeast of the pit limits, as well as backfilled into mined out lobes of the Berry pit. The north pile is built up to a crest elevation of 445 m, the south pile is built up to a crest elevation of 405 m, and the Berry backfill is designed up to a crest elevation of 505 m above the northeast lobe of Berry pit, and 424 m in the central lobe. Topsoil from the pit will be stored in a pile 4.0 km southwest of the pit limits and overburden will be stored a pile 1.0 km southwest of the pit limits.

The waste rock, overburden, and topsoil storage facilities are shown in Figure 16-37.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.7 Production Schedule

16.7.1 Overview

Production requirements by scheduled period, mine operating considerations, product prices, recoveries, destination capacities, haul cycle times, equipment performance and operating costs are used to determine the production schedule from the pit phase Mineral Reserves. The Mine plan supports a mill throughput of 5 Mt/a, after expansion, from an open pit, truck and shovel operation.

The production schedule is based on the following parameters:

&nbsp;&nbsp;&nbsp;&nbsp;· The Mineral Reserve estimate quantities are split by phase and bench.

&nbsp;&nbsp;&nbsp;&nbsp;· Monthly periods are scheduled for 2026 and 2027, followed by scheduling on quarterly periods from 2028 to 2030; the remaining operations are scheduled on annual periods.

&nbsp;&nbsp;&nbsp;&nbsp;· Production at the Marathon deposit is planned to be shut down for four to six weeks in April and four weeks in November for the caribou migration through the mine operations area. The Leprechaun and Berry deposits are assumed to be unaffected.

&nbsp;&nbsp;&nbsp;&nbsp;· Within a given phase, each bench is fully mined before progressing to the next bench.

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| 16-38 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;· Pit phases are mined in sequence, where the later overlapping phase does not mine below the earlier phase.

&nbsp;&nbsp;&nbsp;&nbsp;· Pit phase vertical progression is limited to no more than 48 m in each year; average annual phase progression is 6 benches, or 36 m.

&nbsp;&nbsp;&nbsp;&nbsp;· Ore tonnes released in excess of the mill capacity are stockpiled. At the start of the schedule, there is an existing stockpile with a total of 1,563 kt at 0.92 g/t.

The open pit mine production schedule showing production tonnages and grade forecasts is included as Table 16-6 and shown graphically as Figure 16-38; Figure 16-39 provides an illustration of the projected material mined and strip ratio. This is illustrated for each individual deposit in Figure 16-40 to Figure 16-45.

16.7.2 Mining Sequence

Pit operations continue from 2026 to 2037. Stockpile reclaim operations will also complete in 2037. LOM activities are summarized in Table 16-7.

The final layout plans for Leprechaun, Berry, and Marathon are illustrated in Figure 16-46, Figure 16-47, and Figure 16-48 respectively. End-of-period drawings representing the end of 2026, 2027, 2028, 2029, 2030 and 2037 are shown for Leprechaun, Berry, and Marathon in Figure 16-49 to Figure 16-66. The LOM production schedule includes mining of approximately 679 Mt of material, at an average LOM strip ratio of approximately 12.6:1, and milling of approximately 51.5 Mt of ore.

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| 16-39 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 16-6: Mine Production Schedule

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Total Mine Production** |  | **LOM** | **2026** | **2027** | **2028** | **2029** | **2030** | **2031** | **2032** | **2033** | **2034** | **2035** | **2036** | **2037** |
| Mill Feed | kt | **51490** | 2434 | 2477 | 3200 | 5000 | 5000 | 5000 | 5000 | 5000 | 5000 | 5000 | 5000 | 3380 |
| Mill Feed Grade, Au | g/t | **1.66** | 2.62 | 2.87 | 2.22 | 1.67 | 1.50 | 1.34 | 1.36 | 1.60 | 1.39 | 1.48 | 1.78 | 1.24 |
| Mill Feed Contained Metal | koz | **2748** | 205 | 229 | 229 | 268 | 242 | 216 | 219 | 258 | 223 | 238 | 287 | 134 |
| Ore Mined from Pit | kt | **49926** | 5599 | 5372 | 4695 | 4591 | 3323 | 3489 | 4253 | 4645 | 2880 | 3606 | 5042 | 2431 |
| Ore Grade from Pit, Au | g/t | **1.68** | 1.70 | 1.79 | 1.60 | 1.57 | 1.79 | 1.56 | 1.48 | 1.68 | 1.93 | 1.81 | 1.77 | 1.50 |
| Ore Mined to Stockpile | kt | **11300** | 3529 | 3246 | 2147 | 1593 | 742 | 0 | 0 | 0 | 0 | 0 | 42 | 0 |
| Ore to Stockpile Grade, Au | g/t | **0.91** | 1.06 | 1.00 | 0.76 | 0.73 | 0.66 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.58 | 0.00 |
| Stockpile Reclaim to Mill | kt | **12863** | 364 | 351 | 652 | 2002 | 2419 | 1511 | 747 | 355 | 2120 | 1394 | 0 | 949 |
| Stockpile Grade to Mill, Au | g/t | **0.91** | 1.73 | 2.13 | 1.89 | 1.14 | 0.86 | 0.84 | 0.65 | 0.65 | 0.65 | 0.62 | 0.00 | 0.57 |
| Total Waste from Pit | kt | **629170** | 50543 | 68518 | 75305 | 74309 | 76677 | 69285 | 71696 | 58109 | 41066 | 27312 | 13527 | 2824 |
| Total Mined from Pits | kt | **679097** | 56142 | 73889 | 80000 | 78900 | 80000 | 72775 | 75949 | 62754 | 43946 | 30919 | 18568 | 5255 |
| Total Moved | kt | **691960** | 56506 | 74240 | 80652 | 80902 | 82419 | 74285 | 76696 | 63109 | 46066 | 32312 | 18568 | 6204 |
| **Leprechaun** | **Leprechaun** | **Leprechaun** | **Leprechaun** | **Leprechaun** | **Leprechaun** | **Leprechaun** | **Leprechaun** | **Leprechaun** | **Leprechaun** | **Leprechaun** | **Leprechaun** | **Leprechaun** | **Leprechaun** | **Leprechaun** |
| Ore Mined from Pit | kt | **14245** | 1905 | 1207 | 57 | 209 | 754 | 1464 | 1472 | 2031 | 1685 | 1498 | 1518 | 446 |
| Ore Grade from Pit, Au | g/t | **1.89** | 1.62 | 2.56 | 1.18 | 1.87 | 1.63 | 1.61 | 1.48 | 1.60 | 2.13 | 2.39 | 2.06 | 2.25 |
| Waste Tonnes from Pit | kt | **171040** | 12583 | 4603 | 9274 | 17139 | 32880 | 15771 | 28258 | 23372 | 14655 | 8400 | 3647 | 460 |
| **Berry** | **Berry** | **Berry** | **Berry** | **Berry** | **Berry** | **Berry** | **Berry** | **Berry** | **Berry** | **Berry** | **Berry** | **Berry** | **Berry** | **Berry** |
| Ore Mined from Pit | kt | **13864** | 2339 | 1714 | 2008 | 2794 | 2383 | 1284 | 835 | 506 | 0 | 0 | 0 | 0 |
| Ore Grade from Pit, Au | g/t | **1.65** | 1.76 | 1.70 | 1.49 | 1.47 | 1.86 | 1.52 | 1.64 | 2.02 | 0.00 | 0.00 | 0.00 | 0.00 |
| Waste Tonnes from Pit | kt | **181229** | 22870 | 33970 | 46555 | 41235 | 17804 | 11888 | 5754 | 1154 | 0 | 0 | 0 | 0 |
| **Marathon** | **Marathon** | **Marathon** | **Marathon** | **Marathon** | **Marathon** | **Marathon** | **Marathon** | **Marathon** | **Marathon** | **Marathon** | **Marathon** | **Marathon** | **Marathon** | **Marathon** |
| Ore Mined from Pit | kt | **21817** | 1355 | 2451 | 2630 | 1588 | 186 | 741 | 1947 | 2107 | 1195 | 2109 | 3524 | 1985 |
| Ore Grade from Pit, Au | g/t | **1.57** | 1.69 | 1.47 | 1.70 | 1.71 | 1.49 | 1.53 | 1.42 | 1.67 | 1.65 | 1.41 | 1.65 | 1.33 |
| Waste Tonnes from Pit | kt | **276901** | 15090 | 29945 | 19477 | 15935 | 25993 | 41626 | 37684 | 33583 | 26412 | 18912 | 9880 | 2364 |

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| 16-40 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

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| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **High-Grade Stockpile Balance** | **High-Grade Stockpile Balance** | **High-Grade Stockpile Balance** | **High-Grade Stockpile Balance** | **High-Grade Stockpile Balance** | **High-Grade Stockpile Balance** | **High-Grade Stockpile Balance** | **High-Grade Stockpile Balance** | **High-Grade Stockpile Balance** | **High-Grade Stockpile Balance** | **High-Grade Stockpile Balance** | **High-Grade Stockpile Balance** | **High-Grade Stockpile Balance** | **High-Grade Stockpile Balance** |
| Quantity | kt | 401 | 357 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Grade | g/t | 2.44 | 2.52 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| **High Medium-Grade Stockpile Balance** | **High Medium-Grade Stockpile Balance** | **High Medium-Grade Stockpile Balance** | **High Medium-Grade Stockpile Balance** | **High Medium-Grade Stockpile Balance** | **High Medium-Grade Stockpile Balance** | **High Medium-Grade Stockpile Balance** | **High Medium-Grade Stockpile Balance** | **High Medium-Grade Stockpile Balance** | **High Medium-Grade Stockpile Balance** | **High Medium-Grade Stockpile Balance** | **High Medium-Grade Stockpile Balance** | **High Medium-Grade Stockpile Balance** | **High Medium-Grade Stockpile Balance** |
| Quantity | kt | 1234 | 2202 | 2090 | 89 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Grade | g/t | 1.14 | 1.15 | 1.14 | 1.14 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| **Medium-Grade Stockpile Balance** | **Medium-Grade Stockpile Balance** | **Medium-Grade Stockpile Balance** | **Medium-Grade Stockpile Balance** | **Medium-Grade Stockpile Balance** | **Medium-Grade Stockpile Balance** | **Medium-Grade Stockpile Balance** | **Medium-Grade Stockpile Balance** | **Medium-Grade Stockpile Balance** | **Medium-Grade Stockpile Balance** | **Medium-Grade Stockpile Balance** | **Medium-Grade Stockpile Balance** | **Medium-Grade Stockpile Balance** | **Medium-Grade Stockpile Balance** |
| Quantity | kt | 1404 | 2275 | 3245 | 3841 | 1511 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Grade | g/t | 0.84 | 0.85 | 0.84 | 0.84 | 0.84 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| **Low-Grade Stockpile Balance** | **Low-Grade Stockpile Balance** | **Low-Grade Stockpile Balance** | **Low-Grade Stockpile Balance** | **Low-Grade Stockpile Balance** | **Low-Grade Stockpile Balance** | **Low-Grade Stockpile Balance** | **Low-Grade Stockpile Balance** | **Low-Grade Stockpile Balance** | **Low-Grade Stockpile Balance** | **Low-Grade Stockpile Balance** | **Low-Grade Stockpile Balance** | **Low-Grade Stockpile Balance** | **Low-Grade Stockpile Balance** |
| Quantity | kt | 1690 | 2790 | 3784 | 4781 | 5523 | 5523 | 4776 | 4421 | 2301 | 907 | 949 | 0 |
| Grade | g/t | 0.59 | 0.61 | 0.62 | 0.63 | 0.63 | 0.63 | 0.63 | 0.63 | 0.60 | 0.57 | 0.57 | 0.00 |
| Source: MMTS 2026.<br>Notes:<br>1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes:<br>1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes:<br>1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes:<br>1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes:<br>1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes:<br>1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes:<br>1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes:<br>1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes:<br>1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes:<br>1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes:<br>1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes:<br>1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes:<br>1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. | Source: MMTS 2026.<br>Notes:<br>1. "Ore Mined from Pit" includes both ore to the mill directly and ore to stockpile. |

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| 16-41 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-38: Production Schedule, Mill Feed Tonnes & Grade (All Pits)
Source: MMTS 2026.

#### Figure 16-39: Mine Production Schedule, Total Material Movement & Strip Ratio (All Pits)
Source: MMTS 2026.

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| 16-42 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-40: Leprechaun Production Schedule, Ore Mined Tonnes & Grade
Source: MMTS 2026.

#### Figure 16-41: Leprechaun Mine Production Schedule, Total Material Movement & Strip Ratio
Source: MMTS 2026.

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| 16-43 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-42: Berry Production Schedule, Ore Mined Tonnes & Grade
Source: MMTS 2026.

#### Figure 16-43: Berry Mine Production Schedule, Toal Material Movement & Strip Ratio
Source: MMTS 2026.

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| 16-44 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-44: Marathon Production Schedule, Ore Mined Tonnes & Grade
Source: MMTS 2026.

#### Figure 16-45: Marathon Mine Production Schedule, Total Material Movement & Strip Ratio
Source: MMTS 2026.

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| 16-45 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 16-7: Annual Mine Operations

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|:---|:---|
| **Year** | **Activity** |
| 2026 | Remaining tree clearing, grubbing, and topsoil removal will be completed for all pit phases and dump footprints.<br>Leprechaun Phase 1 mining continues.<br>Berry Phase 1 and 2 mining continue. Phase 3 mining starts.<br>Marathon Phase 1 continues. Phase 2 mining starts.<br>|
| 2027 | Leprechaun Phase 1 mining completed. Phase 2 mining starts.<br>Berry Phase 2 mining completed. Phase 1 and 3 mining continue. Phase 4 and 5 mining starts.<br>Marathon Phase 1 and 2 mining continues. Phase 3 mining starts.<br>|
| 2028 | Leprechaun Phase 2 mining continues.<br>Berry Phase 1, 3, 4 and 5 mining continues.<br>Marathon Phase 1, 2 and 3 mining continues.<br>|
| 2029 | Leprechaun Phase 2 mining continues. Phase 3 mining starts.<br>Berry Phase 1 mining completed. Phase 3, 4 and 5 mining continues.<br>Marathon Phase 1 and 2 completed. Phase 3 mining continues. Phase 4 mining starts.<br>|
| 2030 | Leprechaun Phase 2 and 3 mining continue.<br>Berry Phase 3, 4 and 5 mining continue.<br>Marathon Phase 3 and 4 pit mining continue.<br>|
| 2031 to 2037 | Leprechaun Phase 2 mining completed in 2033. Phase 3 mining completed in 2037.<br>Berry Phase 3 mining completed in 2031 and the empty pit is available for tailings placement. Phase 4 mining completed in 2031 and backfill of waste into this empty pit starts immediately. Phase 5 mining completed in 2033 and waste backfill from Marathon Phase 4 into the empty pit starts immediately. Completion of Phase 5 also makes the empty pit available for tailings placement.<br>Marathon Phase 3 mining completed in 2033. Phase 4 mining completed in 2037.<br>|

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Source: MMTS 2026.

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| 16-46 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-46: Leprechaun Layout Plan

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| 16-47 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-47: Berry Layout Plan

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| 16-48 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-48: Marathon Layout Plan

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| 16-49 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-49: Leprechaun End of Period – 2026

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| 16-50 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-50: Leprechaun End of Period – 2027

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| 16-51 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-51: Leprechaun End of Period – 2028

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| 16-52 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-52: Leprechaun End of Period – 2029

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| 16-53 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-53: Leprechaun End of Period – 2030

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| 16-54 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-54: Leprechaun End of Period – 2037

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| 16-55 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-55: Berry End of Period – 2026

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| 16-56 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-56: Berry End of Period – 2027

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| 16-57 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-57: Berry End of Period – 2028

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| 16-58 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-58: Berry End of Period – 2029

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-59: Berry End of Period – 2030

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-60: Berry End of Period – 2037

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-61: Marathon End of Period – 2026

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-62: Marathon End of Period – 2027

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-63: Marathon End of Period – 2028

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-64: Marathon End of Period – 2029

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-65: Marathon End of Period – 2030

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| 16-66 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 16-66: Marathon End of Period – 2037

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

16.8 Operations

Planned mining operations are typical of similar open pit precious metal operations in flat terrain.

Grade control drilling/sampling/assaying and blasthole sampling/assaying is carried out to better delineate the ore/waste contacts in upcoming benches. An ore control system is planned to provide field control for the loading equipment to selectively mine ore-grade material separately from the waste.

In situ rock is drilled and blasted to create suitable fragmentation for efficient loading and hauling of both ore and waste rock. Drilling and blasting is planned on 12 m benches in ore and waste, as initial site results show better gold recovery compared to the 6 m selective blasts planned in the last FS. A powder factor of 0.34 kg/t in ore and waste is specified. Pre-shear drilling is completed for 18 m triple-benches to form the highwall each phase and pit. With 18 m triple bench walls and 12 m production blasts, every third bench will have a 6 m trim blast.

Emulsion and explosives are produced off-site and trucked to storage facilities on site for use in the operation.

Topsoil and overburden material will not require blasting.

Loading of ore and waste will be completed with hydraulic mining shovels, excavators and front-end wheel loaders on 6 or 12m benches.

Ore and waste materials will be hauled out of the pit to scheduled destinations with off-highway rigid-frame haul trucks.

Mine pit services include the following:

&nbsp;&nbsp;&nbsp;&nbsp;· haul road maintenance

&nbsp;&nbsp;&nbsp;&nbsp;· pit floor and ramp maintenance

&nbsp;&nbsp;&nbsp;&nbsp;· stockpile maintenance

&nbsp;&nbsp;&nbsp;&nbsp;· ditching

&nbsp;&nbsp;&nbsp;&nbsp;· dewatering

&nbsp;&nbsp;&nbsp;&nbsp;· mobile fleet fuel and lube support

&nbsp;&nbsp;&nbsp;&nbsp;· topsoil excavation

&nbsp;&nbsp;&nbsp;&nbsp;· secondary blasting and rock breaking

&nbsp;&nbsp;&nbsp;&nbsp;· snow removal

&nbsp;&nbsp;&nbsp;&nbsp;· reclamation and environmental control

&nbsp;&nbsp;&nbsp;&nbsp;· lighting

&nbsp;&nbsp;&nbsp;&nbsp;· transporting personnel and operating supplies

&nbsp;&nbsp;&nbsp;&nbsp;· mine safety and rescue.

Direct mining operations, mine equipment fleet ownership, mine fleet maintenance, and technical services are all planned as owner-managed functions. RC drilling is planned to be completed with a contractor.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Mining operations are based on 365 operating days per year with two 12-hour shifts per day. An allowance of 12 days of no production has been built into the mine schedule to allow for adverse weather conditions.

The number of hourly mine operations personnel, including maintenance staff, peaks at 513 persons. Due to the shift rotation, only one-quarter of full personnel will be on shift at a given time. Salaried personnel of approximately 78 persons will be required for mine operations, including the mine and maintenance supervision and mine technical services departments.

16.8.1 Open Pit Dewatering

The Valentine open pits will be dewatered with conventional dewatering equipment (i.e., pit bottom submersible pumps). Daily pit inflow rates have been estimated based on direct precipitation over the pit areas and groundwater inflow rates via host rock hydraulic conductivity (Terrane 2021, 2023 and Gemtec 2022a, 2022b, 2024).

Field hydraulic conductivity analysis included packer testing in deep geotechnical drillholes, installation of vibrating wire piezometers, hydraulic response (slug) testing in monitoring wells, and short-term constant rate testing in exploration drill holes. Pumping test programs for Marathon, Leprechaun, and Berry pits have also been completed (Gemtec 2022a, 2024). Results of these programs defined a generally low permeability (i.e., 10<sup>-7</sup>) rock mass and a trend of decreasing hydraulic conductivity with depth. No major variations in lithology versus hydraulic conductivity were observed.

Based on the final pit shells presented in this technical report, an updated estimate for the average and maximum daily inflows were calculated. These inflows are based on the previous estimates for groundwater inflow (negligible difference from the previous feasibility study) and an estimate for direct precipitation captured within the surface area of the updated pit shells (M634, L633, and B635).

Estimates for pit hydrogeology suggest inflow from direct precipitation and groundwater to average approximately 5,742 m<sup>3</sup>/d for Marathon, 3,155 m<sup>3</sup>/d for Leprechaun, and 5,166 m<sup>3</sup>/d for Berry. These estimates are based on hydraulic conductivity from packer testing and average annual rainfall totals. For this technical report, dewatering operations have been planned based on these amounts.

Hydraulic conductivity values developed from pumping tests at each pit suggests the hydraulic conductivity of the rock mass could be an order of magnitude higher than observed in the packer testing. While this presents a risk of increased groundwater flow to the overall volume of water associated with the pits, it is relatively low (~20% of the total) compared to the volume of water from direct precipitation. Field operations through early development will allow future planning to better understand and mitigate this risk from an operational perspective.

Maximum daily inflows associated with a 1:100-year design storm are estimated to be 143,378 m<sup>3</sup>/d for Marathon, 106,628 m<sup>3</sup>/d for Leprechaun, and 153,708 m<sup>3</sup>/d for Berry, with direct precipitation making up the largest portion of overall inflow (greater than 80%) in all pits. It should be noted, utilizing the hydraulic conductivity from the pumping tests (Gemtec 2022a, 2024) would result in a slight increase (<3%) to these maximum daily flow amounts.

It is possible that inflow rates higher than those estimated herein may occur as the radius of influence reaches out to various surface water features within and surrounding the pit footprints. This will potentially result in these water bodies becoming additional sources of hydraulic recharge. In particular, the nearby water bodies of Valentine Lake, Victoria Lake, and Victoria River are potentially within the radius of influence for the proposed open pits. Depending on the hydraulic connectivity (e.g. faults, fractures) of these surface water bodies with the final open pit shell, it is possible that these could provide sources of recharge and result in higher pit inflow rates than those currently estimated.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

It is anticipated that depressurization of the pits by way of natural seepage will have a direct effect on the pore pressure developed behind the pit walls and allow this pressure to dissipate passively. At present, no additional active depressurization designs have been planned.

Pit water will be pumped from in-pit sumps to collection ponds adjacent to the pits, where it will be managed as per the overall site water management plan (see Section 18.0 for details).

16.8.2 Planned Grade Control Measures

The aim of grade control is to accurately model ore/waste boundaries and the goal of selective mining along the ore/waste boundary is to minimize mining dilution.

An ore control system is planned to provide field control for the loading equipment to selectively mine ore grade material separately from the waste. The ore control system will consist of the following:

&nbsp;&nbsp;&nbsp;&nbsp;· RC bench drilling targets multiple benches across ore and waste boundaries. In areas with modelled ore, drilling is on a 9 m x 9 m grid, in geological domains of potential ore, drilling is on a 18 m x 18 m grid, and in geological domains without potential ore, no drilling is completed.

&nbsp;&nbsp;&nbsp;&nbsp;· Sampling of RC drillholes for gold grades on tightly spaced intervals

&nbsp;&nbsp;&nbsp;&nbsp;· Sample Analysis is done via PhotonAssay, with appropriate QA/QC protocols in place

&nbsp;&nbsp;&nbsp;&nbsp;· In-situ Grade Control models are created from RC results

&nbsp;&nbsp;&nbsp;&nbsp;· Post-blast models are created using OrePro3D, where appropriate dig lines are created, delineating ore and waste

&nbsp;&nbsp;&nbsp;&nbsp;· Dig limits in guidance systems (MS4M) on excavators

&nbsp;&nbsp;&nbsp;&nbsp;· Field mark-up of dig limits by the technical services department

&nbsp;&nbsp;&nbsp;&nbsp;· Reconciliation of planned versus mined gold grade

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.9 Mining Equipment

Equipment already exists on site. As the fleet expands, models that match the existing fleet have been included, with sufficient units to execute the production requirements of the mine plan. Productivities of existing fleet inform productivities assumed in the mine plan.

Grade control drilling will be carried out by contractor hydraulic RC drills.

Production drilling will be carried out with 190 mm (7½") diesel rotary drills ore and waste. A 140 mm (5½ʺ) diesel down-the-hole (DTH) drill will be used for pre-shear. Another DTH drill with a 171 mm (6¾") size bit will be used for trim holes.

This LOM plan assumes the same equipment that is already purchased by Equinox. This mining equipment will be sufficient to handle the quantities in the production schedules with some expansions as the production increases. A larger hydraulic front shovel configuration (15.5 m<sup>3</sup> bucket) is planned to handle large bulk headings planned over the mine life. Smaller hydraulic excavators (12.0 m<sup>3</sup> bucket) are proposed based on their ability to minimize losses and dilution for the ore control operations. Front-end wheel loaders (13.5 m<sup>3</sup> bucket) are proposed based on their ability to move around to various pits to support the excavators and shovels, and their ability to load the crusher when required.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Rigid frame haulers (133-tonne and 90-tonne payload) are proposed for their flexibility in use on the smaller pit benches, and to make sure the fleet size is large enough to support three pits being mined concurrently.

Graders will be used to maintain the haul routes for the haul trucks and other equipment within the pits and on all routes to the various waste storage locations and the crusher. Articulated trucks (40-tonne payload) that are outfitted with a water tank and gravel body are included for haul road maintenance. Track dozers (447 kW and 325 kW) are included to handle waste rock, ore and overburden, at the various stockpile locations. Wheel dozer (600 kW and 370 kW) is included for shovel face, pit floor and haul road maintenance. Front-end wheel loaders (430kW, 240 kW and 130kW) and hydraulic excavators (4.0 m<sup>3</sup> and 3.0 m<sup>3</sup> and 2.0 m<sup>3</sup> bucket) are included as pit support, and gravel loading. The smaller excavators will also be useful for supporting ore control activities. Custom articulated fuel/lube trucks are included for mobile fuel/lube support. Various small mobile equipment pieces are proposed to handle all other pit service and mobile equipment maintenance functions.

Mine fleet maintenance activities are generally performed in the maintenance facilities located near the plant site.

Primary mining equipment estimates are shown in Table 16-8. A list of estimated support units is shown in Table 16-9.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 16-8: Primary Mining Fleet Schedule

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| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Unit** | &nbsp;&nbsp;**Purchased<br> (pre-2026)** | &nbsp;&nbsp;**2026** | &nbsp;&nbsp;**2027** | &nbsp;&nbsp;**2028** | &nbsp;&nbsp;**2029** | &nbsp;&nbsp;**2030** | &nbsp;&nbsp;**2031** | &nbsp;&nbsp;**2032** | &nbsp;&nbsp;**2033** | &nbsp;&nbsp;**2034** | &nbsp;&nbsp;**2035** | &nbsp;&nbsp;**2036** | &nbsp;&nbsp;**2037** |
| &nbsp;&nbsp;**Drilling** | &nbsp;&nbsp;**Drilling** | &nbsp;&nbsp;**Drilling** | &nbsp;&nbsp;**Drilling** | &nbsp;&nbsp;**Drilling** | &nbsp;&nbsp;**Drilling** | &nbsp;&nbsp;**Drilling** | &nbsp;&nbsp;**Drilling** | &nbsp;&nbsp;**Drilling** | &nbsp;&nbsp;**Drilling** | &nbsp;&nbsp;**Drilling** | &nbsp;&nbsp;**Drilling** | &nbsp;&nbsp;**Drilling** | &nbsp;&nbsp;**Drilling** |
| &nbsp;&nbsp;Diesel Rotary Tracked Drill <br> – 190 mm (7½") Holes | &nbsp;&nbsp;3 | &nbsp;&nbsp;8 | &nbsp;&nbsp;9 | &nbsp;&nbsp;9 | &nbsp;&nbsp;9 | &nbsp;&nbsp;9 | &nbsp;&nbsp;9 | &nbsp;&nbsp;9 | &nbsp;&nbsp;9 | &nbsp;&nbsp;7 | &nbsp;&nbsp;7 | &nbsp;&nbsp;4 | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;Diesel DTH Tracked Drill <br> – 190 or 144 mm (7½ or 5½ ") Holes | &nbsp;&nbsp;4 | &nbsp;&nbsp;4 | &nbsp;&nbsp;4 | &nbsp;&nbsp;4 | &nbsp;&nbsp;4 | &nbsp;&nbsp;4 | &nbsp;&nbsp;4 | &nbsp;&nbsp;4 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;**Loading** | &nbsp;&nbsp;**Loading** | &nbsp;&nbsp;**Loading** | &nbsp;&nbsp;**Loading** | &nbsp;&nbsp;**Loading** | &nbsp;&nbsp;**Loading** | &nbsp;&nbsp;**Loading** | &nbsp;&nbsp;**Loading** | &nbsp;&nbsp;**Loading** | &nbsp;&nbsp;**Loading** | &nbsp;&nbsp;**Loading** | &nbsp;&nbsp;**Loading** | &nbsp;&nbsp;**Loading** | &nbsp;&nbsp;**Loading** |
| &nbsp;&nbsp;Hydraulic Excavator – 15.5 m<sup>3</sup> Bucket | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Hydraulic Excavator – 12.0 m<sup>3</sup> Bucket | &nbsp;&nbsp;3 | &nbsp;&nbsp;4 | &nbsp;&nbsp;4 | &nbsp;&nbsp;4 | &nbsp;&nbsp;4 | &nbsp;&nbsp;4 | &nbsp;&nbsp;4 | &nbsp;&nbsp;4 | &nbsp;&nbsp;4 | &nbsp;&nbsp;4 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Wheel Loader – 13.5 m<sup>3</sup> Bucket | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;**Hauling** | &nbsp;&nbsp;**Hauling** | &nbsp;&nbsp;**Hauling** | &nbsp;&nbsp;**Hauling** | &nbsp;&nbsp;**Hauling** | &nbsp;&nbsp;**Hauling** | &nbsp;&nbsp;**Hauling** | &nbsp;&nbsp;**Hauling** | &nbsp;&nbsp;**Hauling** | &nbsp;&nbsp;**Hauling** | &nbsp;&nbsp;**Hauling** | &nbsp;&nbsp;**Hauling** | &nbsp;&nbsp;**Hauling** | &nbsp;&nbsp;**Hauling** |
| &nbsp;&nbsp;Rigid Frame Haul Truck – 133 t Payload | &nbsp;&nbsp;13 | &nbsp;&nbsp;15 | &nbsp;&nbsp;22 | &nbsp;&nbsp;22 | &nbsp;&nbsp;26 | &nbsp;&nbsp;32 | &nbsp;&nbsp;32 | &nbsp;&nbsp;32 | &nbsp;&nbsp;32 | &nbsp;&nbsp;25 | &nbsp;&nbsp;25 | &nbsp;&nbsp;12 | &nbsp;&nbsp;12 |
| &nbsp;&nbsp;Rigid Frame Haul Truck – 90 t Payload | &nbsp;&nbsp;5 | &nbsp;&nbsp;11 | &nbsp;&nbsp;11 | &nbsp;&nbsp;11 | &nbsp;&nbsp;11 | &nbsp;&nbsp;11 | &nbsp;&nbsp;11 | &nbsp;&nbsp;11 | &nbsp;&nbsp;11 | &nbsp;&nbsp;11 | &nbsp;&nbsp;11 | &nbsp;&nbsp;11 | &nbsp;&nbsp;11 |
| &nbsp;&nbsp;Source: MMTS 2026. | &nbsp;&nbsp;Source: MMTS 2026. | &nbsp;&nbsp;Source: MMTS 2026. | &nbsp;&nbsp;Source: MMTS 2026. | &nbsp;&nbsp;Source: MMTS 2026. | &nbsp;&nbsp;Source: MMTS 2026. | &nbsp;&nbsp;Source: MMTS 2026. | &nbsp;&nbsp;Source: MMTS 2026. | &nbsp;&nbsp;Source: MMTS 2026. | &nbsp;&nbsp;Source: MMTS 2026. | &nbsp;&nbsp;Source: MMTS 2026. | &nbsp;&nbsp;Source: MMTS 2026. | &nbsp;&nbsp;Source: MMTS 2026. | &nbsp;&nbsp;Source: MMTS 2026. |

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#### Table 16-9: Support Equipment Schedule

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| | | | |
|:---|:---|:---|:---|
| **Equipment** | **Function** | **Purchased (pre-2026)** | **Maximum Number** |
| **Road Maintenance** | **Road Maintenance** | **Road Maintenance** | **Road Maintenance** |
| Motor Grader, 4.9 m blade, 216 kW | Haul Road Maintenance | 3 | 5 |
| Water/Gravel Truck, 40 t Articulated | Water/Gravel Haul Roads | 2 | 4 |
| **Stockpile Maintenance** | **Stockpile Maintenance** | **Stockpile Maintenance** | **Stockpile Maintenance** |
| Track Dozer, 447 kW | Stockpile Maintenance | 3 | 3 |
| **Primary Pit Support** | **Primary Pit Support** | **Primary Pit Support** | **Primary Pit Support** |
| Track Dozer, 325 kW | Pit support, shovel support, snow clearing | 2 | 2 |
| Wheel Loader, 6.0 m<sup>3</sup> bucket, 430 kW | Pit support, shovel support, snow clearing | 1 | 2 |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

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| | | | |
|:---|:---|:---|:---|
| **Equipment** | **Function** | **Purchased (pre-2026)** | **Maximum Number** |
| Hydraulic Excavator, 4.0 m<sup>3</sup> bucket, 360 kW | Pit Support and Back Up Loading | 3 | 3 |
| Wheel Dozer, 600 kW | Shovel Support | 0 | 1 |
| Wheel Dozer, 370 kW | Shovel Support | 2 | 2 |
| **Secondary Pit Support** | **Secondary Pit Support** | **Secondary Pit Support** | **Secondary Pit Support** |
| Transit Van Crew Shuttle | Employee Transport | 4 | 6 |
| Light Plants | Pit Lighting | 12 | 18 |
| On Highway Dump Truck | Utility Material Movement | 2 | 2 |
| Flatbed Picker Truck | Construction Support | 1 | 2 |
| Emergency Response Vehicle | Safety and First Aid | 1 | 1 |
| Wheel Loader - 2m<sup>3</sup> Bucket, 130 kW | Construction Support | 1 | 1 |
| Hydraulic Excavator, 2.0 m<sup>3</sup> bucket, 220 kW | Construction and Reclamation Support | 1 | 1 |
| Hydraulic Excavator, 3.0 m<sup>3</sup> bucket, 340 kW | Pit, Construction, and Reclamation Support | 1 | 1 |
| Wheel Loader - 4.5 m<sup>3</sup> Bucket, 240 kW | Site Support | 2 | 2 |
| Fuel Lube Truck, 30 t Articulated | Fuel Lube Support | 2 | 3 |
| **Maintenance** | **Maintenance** | **Maintenance** | **Maintenance** |
| 2-Ton Pickup Maintenance Trucks | Mobile Maintenance Crew and Tool Transport | 2 | 4 |
| Mobile 36 t Crane | Mobile Maintenance Material Handling | 1 | 1 |
| 150-ton trailer float | Material and Equipment Transport | 1 | 1 |
| Forklift and Tire Handler | Shop Material and Tire Handling | 1 | 2 |
| Mobile Steam Cleaner | Cleaning for Mobile Maintenance | 1 | 2 |
| Scissor Lift | Maintenance Support | 1 | 1 |
| Mobile Manlift | Maintenance Support | 1 | 1 |
| 300-ton Shovel Float | Equipment Transport | 1 | 1 |
| Source: MMTS 2026. | Source: MMTS 2026. | Source: MMTS 2026. | Source: MMTS 2026. |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

17.0 Recovery Methods

17.1 Overview

The Process Plant currently treats ore via a conventional gravity and cyanidation flowsheet and has been designed to nominally treat 2.5 Mt/a of ore. Run-of-mine (ROM) ore is processed via conventional primary crushing, a two-stage grinding circuit, and a gravity concentration circuit. Gravity circuit tailings are treated via cyanidation and a carbon-in-leach (CIL) circuit and associated gold recovery and carbon handling circuits to produce gold doré. CIL tailings are treated via a cyanide destruction process prior to storage in the TMF.

Plant construction was completed in Q3 2025, and the first gold pour was achieved on September 15, 2025. Commercial production, representing 80% nameplate capacity, was achieved on November 18, 2025.

Studies are underway to increase nominal plant throughput from 2.5 Mt/a to 5 Mt/a, and proposed flowsheet changes are described in this section.

A simplified process flowsheet of the Process Plant is provided in Figure 17-1. The current Process Plant consists of the following unit operations to nominally treat 2.5 Mt/a of ore:

&nbsp;&nbsp;&nbsp;&nbsp;· Primary crushing and associated material handling equipment

&nbsp;&nbsp;&nbsp;&nbsp;· Crushed ore stockpile and associated feed and reclaim systems

&nbsp;&nbsp;&nbsp;&nbsp;· Grinding circuit consisting of a semi-autogenous grinding (SAG) and ball mills, hydrocyclone classification and associated pumping and material handling systems to produce a nominal grind size of 80% passing (P<sub>80</sub>) of 75µm

&nbsp;&nbsp;&nbsp;&nbsp;· Gravity concentration circuit with intensive leach reactor

&nbsp;&nbsp;&nbsp;&nbsp;· Pre-aeration, cyanide leaching, and carbon adsorption via a CIL circuit

&nbsp;&nbsp;&nbsp;&nbsp;· Carbon elution via Pressure Zadra circuit

&nbsp;&nbsp;&nbsp;&nbsp;· Carbon handling and regeneration

&nbsp;&nbsp;&nbsp;&nbsp;· Electrowinning and smelting to produce doré

&nbsp;&nbsp;&nbsp;&nbsp;· Cyanide destruction of CIL tailings using SO<sub>2</sub> / O<sub>2</sub> process

&nbsp;&nbsp;&nbsp;&nbsp;· Tailings pumping to the TMF

&nbsp;&nbsp;&nbsp;&nbsp;· Reagent mix and storage circuits

&nbsp;&nbsp;&nbsp;&nbsp;· Air and oxygen circuits

&nbsp;&nbsp;&nbsp;&nbsp;· Water systems (potable water, treated water, gland seal water and process water)

The proposed plant expansion to 5 Mt/a will consist of the following changes to the existing unit operations:

&nbsp;&nbsp;&nbsp;&nbsp;· Addition of a second jaw crusher circuit

&nbsp;&nbsp;&nbsp;&nbsp;· Addition of a secondary crushing circuit to reduce the ore feed size to the SAG mill

&nbsp;&nbsp;&nbsp;&nbsp;· Addition of a pebble crusher at the existing pebble recirculating system

&nbsp;&nbsp;&nbsp;&nbsp;· Addition of a second ball mill

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| 17-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;· Addition of a pre-leach thickener circuit to increase the density of the slurry at the CIL circuit. The existing tailings thickener will be repurposed as a pre-leach thickener, and a new, larger tailings thickener will be installed.

&nbsp;&nbsp;&nbsp;&nbsp;· Reconfiguration of the pre-aeration (PA), leaching, and CIL tank train and addition of three CIL tanks

&nbsp;&nbsp;&nbsp;&nbsp;· Reagents: Installation of a sulphur burner system as a new source of SO<sub>2</sub> and conversion of the existing sodium metabisulphite system to a sodium hydroxide mix system

&nbsp;&nbsp;&nbsp;&nbsp;· Modification of the existing process water system

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| 17-2 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 17-1: Process Flow Sheet
Source: DRA (2026)

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| 17-3 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

17.2 Plant Design Criteria

Key process design criteria for the existing process plant and proposed plant expansion are listed in Table 17-1.

#### Table 17-1: Key Process Design Criteria

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| | | | |
|:---|:---|:---|:---|
| **Design Parameter** | **Units** | **Existing Plant** | **Plant Expansion** |
| Nominal Plant Throughput at 92% Availability | Mt/a | 2.5 | 4.9 |
| Nominal Plant Throughput at 94% Availability | Mt/a | 2.6 | 5.0 |
| Design Plant Throughput | Mt/a | 3 | 5.4 |
| Gold Head Grade (design) | g/t Au | 2.76 | 1.68 |
| Crushing Plant Availability (design) | % | 75 | 75 |
| Mill Availability (design) | % | 92 | 92 |
| Bond Crusher Work Index (CWi) | kWh/t | 16.5 | 16.5 |
| Bond Rod Mill Work Index (BWi) | kWh/t | 13.9 | 13.9 |
| Bond Ball Mill Work Index (BWi) | kWh/t | 16 | 16 |
| JK Axb Parameter – (75<sup>th</sup> percentile) | Axb | 41.5 | 41.5 |
| Bond Abrasion Index (Ai) | g | 0.41 | 0.41 |
| Ore Specific Gravity | t/m³ | 2.68 | 2.68 |
| Feed Size to SAG Mill (P<sub>80</sub>) | mm | 120 | 45 (nominal) |
| Feed Size to SAG Mill (P<sub>80</sub>) | mm | 120 | 35 (design) |
| Primary Grind Size (P<sub>80</sub>) | µm | 75 | 75 |
| Pre-Aeration + Leach Residence Time | h | 12 | 12 |
| CIL Residence Time | h | 24 | 24 |
| Gravity Recovery | % Au | 45 | 45 |
| Leach Extraction | % Au | 87 | 87 |
| Overall Nominal Recovery | % Au | 93 | 93 |
| Leach Operating Density | % w/w | 42.5 | 50 |
| CIL Carbon Concentration | g/L | 12-16 | 12-16 |
| Tonnes of Carbon per Elution Column | t | 1 x 7.0 | 1 x 7.0 |
| Detox Residence Time | min | 60 | 60 |
| Detox WAD Cyanide Discharge Target | mg/L CN<sub>WAD</sub> | <2.0 | <2.0 |
| Final Tails Thickener Underflow Density | % w/w | 65 | 65 |
| Notes:<br>WAD weak acid dissociable<br>CN cyanide | Notes:<br>WAD weak acid dissociable<br>CN cyanide | Notes:<br>WAD weak acid dissociable<br>CN cyanide | Notes:<br>WAD weak acid dissociable<br>CN cyanide |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

17.3 Process Description

17.3.1 Primary Crushing

Ore is hauled from the mine or stockpiles and directly tipped into the ROM hopper. Provision is made for blending and re-handling on the ROM pad and then dumping into the ROM hopper. A static grizzly is provided at the ROM hopper, and a fixed rock breaker is utilized to break oversize rocks.

Ore is withdrawn from the ROM hopper by a vibrating grizzly, with an aperture of 127 mm, that feeds a C130 jaw crusher. The circuit has been designed for 75% availability and produces an ore size (P<sub>80</sub>) of 120 mm. Crushed ore from the jaw crusher discharges onto the sacrificial conveyor along with the undersize from the vibrating grizzly. A belt magnet at the sacrificial conveyor discharge recovers any trash metal. The sacrificial conveyor feeds crushed ore to the stockpile feed conveyor that conveys ore to the crushed ore stockpile. The stockpile feed conveyor is fitted with a weightometer to monitor the primary crusher throughput.

#### Plant Expansion
For the plant expansion, it is proposed to install a second primary crushing station as follows.

&nbsp;&nbsp;&nbsp;&nbsp;· Ore will be directly tipped into a new ROM hopper with dual dumping capability. Ore will be withdrawn from the ROM bin by a new variable-speed apron feeder directly to a new vibrating grizzly with an aperture of 150 mm.

&nbsp;&nbsp;&nbsp;&nbsp;· Oversized material from the vibrating grizzly will report directly to a new C130 jaw crusher, which will operate in open circuit.

&nbsp;&nbsp;&nbsp;&nbsp;· A new rock breaker will be installed to assist in breaking down oversize material retained above the jaw crusher, as opposed to the ROM bin opening.

&nbsp;&nbsp;&nbsp;&nbsp;· Crushed ore from the new jaw crusher, the apron feeder dribble, and undersize from the new vibrating grizzly will report to a new sacrificial conveyor. The new primary crushing station will produce an ore size of P<sub>80</sub> of 120 mm. A new belt magnet at the sacrificial conveyor discharge will recover any trash metal. The sacrificial conveyor will feed crushed material to the secondary crushing circuit.

After the new primary crushing station is installed, the existing primary crushing station will be upgraded to improve material handling equipment and chutes. The aperture of the existing vibrating grizzly will be increased to 150 mm. The existing sacrificial conveyor discharge will be modified, and an additional conveyor will be installed to allow the crushed product to be sent to the secondary crushing circuit. Both primary crushing circuits will operate in parallel, and either jaw crusher will have the capacity to crush 5 Mt/a ore.

17.3.2 Secondary Crushing (Plant Expansion)

A new secondary crushing circuit is proposed for the plant expansion to produce a finer SAG mill feed with a P<sub>80</sub> of 45 mm. Crushed ore from the primary crushing circuits will be conveyed to a new double-deck scalping screen. Screen oversize will feed two new HP450e cone crushers in parallel. A surge bin and belt feeder will be installed ahead of each cone crusher. Screen undersized and crushed product from the two cone crushers will discharge to two new conveyors in series. The conveyors will discharge crushed ore onto the existing stockpile feed conveyor and the existing stockpile.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Both cone crushers will operate at the nominal throughput. Bypass chutes have been included to allow secondary crushing to be bypassed as needed.

17.3.3 Crushed Ore Stockpile

Crushed material from the current primary crushing circuit is conveyed to a covered stockpile that provides approximately 19 hours of live storage at 2.5 Mt/a. Given that the milling operation is designed for an annual operating time of 8,059 hours (92% availability), this will result in excess crushed material when the primary crusher is operational. The excess crushed material will allow routine crusher maintenance to be carried out without interrupting the mill feed.

The mill feed stockpile is equipped with apron feeders to regulate feed into the SAG mill. Crushed material is drawn from the stockpile by two apron feeders and discharges onto the SAG mill feed conveyor to feed the grinding circuit. Pebble lime is added to the SAG mill feed conveyor via a screw conveyor to control pH during leaching. SAG mill pebble production is recycled via a series of conveyors back to the SAG mill feed conveyor.

For the plant expansion, no changes to the stockpile are anticipated. Stockpile residence time will be reduced to approximately 7.5 hours of live storage; however, this is not expected to impact milling operations during crusher maintenance, as two primary crushers are provided, and the stockpile contains a total of 33 hours of storage.

17.3.4 Grinding

Reclaimed crushed ore from the stockpile is conveyed to a 7.92 m diameter by 4.27 m effective grinding length (EGL) SAG mill with a 4,800 kW motor equipped with a variable speed drive (VSD) to control the speed of the SAG mill. A belt scale on the SAG feed conveyor monitors the feed rate. Process water is added to the SAG mill to maintain a 70% slurry discharge density by weight. SAG mill discharge passes through the trommel screen to remove grinding media scats and a small number of pebbles. The SAG trommel screen undersize reports to the cyclone feed pump box, combining with ball mill discharge and gravity concentrator circuit tails. SAG trommel screen oversize is conveyed back to the SAG mill feed conveyor. A belt magnet removes grinding media scats from the pebbles.

Slurry from the cyclone feed pump box is pumped to a hydrocyclone cluster of 17 (8 operating / 9 spare) 381 mm diameter cyclones for size classification. Water is added to the cyclone feed pump box to achieve the desired density before pumping to the cyclones. The cyclone overflow, at a final target product P<sub>80</sub> of 75 μm, flows via gravity to the trash screen prior to the leach circuit. The hydrocyclone cluster has been designed for a 350% circulating load.

Cyclone underflow feeds a 5.5 m diameter by 8.84 m EGL ball mill with a 4,800 kW fixed speed motor. Slurry overflows from the ball mill to a trommel screen, attached to the ball mill discharge end. Trommel undersize discharges into the cyclone feed pump box.

A smaller pump pumps slurry from the cyclone feed pump box to the gravity concentration circuit for coarse gold recovery.

For the plant expansion, the existing SAG mill liners will be upgraded, and the SAG mill grate port open area will be increased by at least 11%. Pebble recirculating load will be reduced from approximately 28% to 15%. A HP450e pebble cone crusher will be installed within the pebble recirculating system.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

A second ball mill with a second cyclone cluster of seventeen 381 mm diameter cyclones will be installed and operated in parallel with the existing ball mill. The second ball mill will have the same dimensions and motor size as the existing ball mill. The existing standby cyclone feed pump will be repurposed to pump 50% of the slurry to the second ball mill pumpbox. New pumps (duty/standby) will be installed and feed the second cyclone cluster, and a third smaller pump will feed the existing gravity concentration circuit. Cyclone underflow from the new cyclone cluster will gravitate back to the new ball mill, and cyclone overflow will flow via gravity to the existing trash screen.

17.3.5 Gravity Gold Recovery

The gravity circuit comprises one centrifugal concentrator complete with a feed scalping screen. Feed to the circuit is directed from the cyclone feed pump box via a dedicated pump to the scalping screen. Gravity scalping screen oversize at +2 mm reports to the gravity tails pumpbox, from where the gravity tails pump directs the material back to feed the ball mill.

Scalping screen undersize is fed to the centrifugal concentrator. The gravity concentrate is batch processed in the CS3000 intensive cyanidation unit. The gravity concentrate is leached to dissolve gold in a leach solution that includes sodium cyanide, caustic solution, and a leach accelerant. After the leach cycle is complete, the pregnant solution is pumped to the electrowinning circuit. The tails from the intensive leach reactor circuit report to the gravity tails pump box, and from there are returned to the grinding circuit.

For the plant expansion, a second centrifugal concentrator will be installed. Layout was provided during initial plant construction to facilitate the installation of a second unit. Feed from the second ball mill cyclone feed pumpbox will be pumped to the existing scalping screen.

17.3.6 Pre-Aeration, Leach and Adsorption Circuit

Cyclone overflow from the existing ball mill cyclones is fed via gravity to the trash screen. Screen underflow flows into a pump box via a metallurgical sampler and is then pumped to the pre-aeration tank.

The pre-aeration, leach, and adsorption circuit consists of one agitated pre-aeration tank, two agitated leach tanks, followed by eight agitated CIL tanks in series, located outdoors in dedicated bunded areas serviced by sump pumps. The pre-aeration, leach, and CIL tanks provide a total circuit residence time of 36 hours at a pulp density of 42.5% w/w at the nominal slurry flow rate.

Oxygen and air are sparged in all tanks to maintain adequate dissolved oxygen levels for leaching. Sodium cyanide is added to the leach circuit to dissolve the gold, and hydrated lime slurry is stage-added to maintain circuit alkalinity at a pH of 10.5 to 11, preventing the creation of hydrogen cyanide gas. The inter-tank screen in each CIL tank retains the carbon while transferring the slurry by gravity to the downstream tank. This counter-current process is repeated until the loaded carbon reaches the first CIL tank. Tailings from the last CIL tank gravitate to the cyanide detoxification tank.

Fresh/regenerated carbon from the carbon regeneration circuit is returned to the last tank of the CIL circuit and is advanced counter-currently to the slurry flow by pumping slurry and carbon. Recessed impeller pumps are used to transfer slurry between the CIL tanks and from the first tank to the loaded carbon screen mounted above the acid wash column in the elution circuit.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

For the plant expansion, the existing tailings thickener will be repurposed as a preleach thickener to increase slurry density to 50% slurry density by weight, and three additional tanks will be installed to maintain a total residence time of 36 hours across preaeration, leach, and CIL. The tanks will be reconfigured to consist of two agitated pre-aeration tanks, three agitated leach tanks, and nine agitated CIL tanks in series. The existing inter-tank screens will be replaced with larger screens in the CIL tanks. The CIL discharge will gravitate to a new pump box and pumps, which will transfer the slurry to the cyanide destruction system. With the pre-leach thickener added to the flowsheet, trash screen underflow will be pumped to the thickener. Thickener underflow will be pumped to the first pre-aeration tank, and thickener overflow will be pumped to the SAG mill or process water tank.

17.3.7 Cyanide Destruction

The cyanide destruction circuit consists of one mechanically agitated tank, providing a retention time of one hour. The conventional SO<sub>2</sub> / O<sub>2</sub> process is used for cyanide destruction. The cyanide destruction circuit treats CIL tailings, process spills from various contained areas, and process bleed streams: cold cyanide barren solution effluent, acid wash effluent, and area sump pump discharge.

Oxygen is sparged into the cyanide destruction tank; lime slurry is added to maintain a pH of 8.5; and copper sulphate is added as a catalyst. Sodium metabisulphite (SMBS) is dosed into the system as a source of SO<sub>2</sub>. The circuit is designed to reduce weak acid dissociable (WAD) cyanide in solution to less than 2 mg/L.

From the detoxification tank, the tailings report to the carbon safety screen and metallurgical sampler. Screen undersize is pumped to the tailings thickener, while screen oversize (recovered carbon) is collected in fine carbon bulk bags for potential return to the CIL circuit.

For the plant expansion, the currently installed second mechanically agitated tank will be connected, and a sulphur burner system will be installed as an alternative SO<sub>2</sub> source.

17.3.8 Tailings Thickening

Detoxified tailings are thickened before discharge to the TMF. The overflow of the tailings thickener is reused as process water in the plant. A flocculant is added to the thickener feed to improve the settling rate of the material. The underflow at 65% slurry density by weight is pumped to the TMF for final deposition, with decant water from the TMF returned for use as process water.

For the plant expansion, the existing tailings thickener will be repurposed as a preleach thickener, and a new high-rate thickener and associated flocculant system will be installed to continue to provide 65% slurry density by weight to the TMF.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

17.3.9 Acid Wash and Elution

Loaded carbon from the CIL circuit is pumped, screened, and transferred to the acid wash column where it is treated with a weak hydrochloric acid to remove inorganic foulants such as calcium, magnesium, and sodium salts, as well as fine mineral particles trapped on the carbon like silica.

Entrained water is drained from the column, and the column is refilled from the bottom up with the hydrochloric acid solution. Once the column is filled with acid, it is left to soak, after which the spent acid is rinsed from the carbon and discarded to the cyanide destruction tank. The acid-washed carbon is then hydraulically transferred to the elution column for gold stripping.

The gold stripping (elution) circuit uses the conventional pressure Zadra process. The elution sequence commences with the injection of a set volume of water into the bottom of the 7 t elution column, along with the simultaneous injection of cyanide and sodium hydroxide solution to achieve a weak NaOH (2.0% w/w) and weak sodium cyanide (NaCN) (0.2% w/w) solution. Once the prescribed volume has been added, the pre-soak period commences. During the pre-soak, the caustic/cyanide solution is circulated through the column and the elution heater until a temperature of 95°C is achieved.

Upon completion of the pre-soak period, additional water is pumped through the trim heat exchanger and elution heater, then through the elution column to the pregnant eluate tank at a rate of twice the effective column volume per hour. At this stage, the temperature of the strip solution passing through the column is increased to 140/150°C at a pressure of 350/500 kPaG (kiloPascal gauge), and the gold is stripped off the loaded carbon.

When stripping is complete, the strip solution flows up and out of the top of the column, passing through the heat exchanger via the elution discharge strainers and to the pregnant solution tank.

Upon completion of the cool-down sequence, the carbon is hydraulically transferred to the carbon regeneration kiln feed hopper via a dewatering screen.

For the plant expansion, no additional modifications are required.

17.3.10 Carbon Regeneration

Carbon is reactivated in an electric rotary kiln. Dewatered stripped carbon from the elution circuit is held in a 7 t kiln feed hopper. A screw feeder meters the carbon into the reactivation kiln, where it is heated to 750°C in an atmosphere of superheated steam to restore the activity of the carbon and remove any organic foulants.

Carbon discharging from the kiln is quenched in water and screened on a carbon sizing screen located on top of the CIL tanks to remove undersized carbon fragments. The undersized fine carbon gravitates to the carbon safety screen, while the carbon screen oversize is directed to the CIL circuit.

As carbon is lost by attrition, new carbon is added to the circuit using the carbon quench tank. The new carbon is then transferred along with the regenerated carbon to feed the carbon sizing screen.

No significant changes are anticipated to the carbon regeneration circuit for the plant expansion.

17.3.11 Electrowinning and Gold Room

Gold is recovered from the pregnant solution by electrowinning and is smelted to produce doré bars. The pregnant solution is pumped through two electrowinning cells with stainless steel mesh cathodes. Gold is deposited on the cathodes, and the resulting barren solution is pumped to the leach circuit. One additional electrowinning cell is dedicated to processing pregnant solution from the intensive cyanidation unit.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

The gold-rich sludge is washed off the steel cathodes in the electrowinning cells using high-pressure spray water and gravitates to the sludge hopper. The sludge is filtered, dried, mixed with fluxes, and smelted in an electrical induction furnace and cast into gold doré bars. The electrowinning and smelting process takes place within a secure and supervised gold room equipped with access control, intruder detection, and closed-circuit television equipment. The bars are cleaned and weighed prior to storage.

No significant changes are anticipated to the electrowinning circuit and gold room for the plant expansion.

17.4 Reagents

Each set of compatible reagent mixing and storage systems is located within curbed containment areas to prevent incompatible reagents from mixing. Storage tanks are equipped with level indicators, instrumentation, and alarms to prevent spills during normal operation. Appropriate ventilation, fire and safety protection, eyewash stations, and Safety Data Sheet (SDS) stations are located throughout the facilities. Sumps and sump pumps are provided for spillage control.

No significant changes are anticipated for the existing reagent systems, except to implement a sulphur burner system as a new source of SO<sub>2</sub> and to convert the existing sodium metabisulphite system to a sodium hydroxide mix system as described below. Reagent usage will increase due to higher plant throughput.

The following reagent systems are currently used for the process:

&nbsp;&nbsp;&nbsp;&nbsp;· Pebble lime

&nbsp;&nbsp;&nbsp;&nbsp;· Hydrated lime

&nbsp;&nbsp;&nbsp;&nbsp;· Sodium cyanide

&nbsp;&nbsp;&nbsp;&nbsp;· Hydrochloric acid

&nbsp;&nbsp;&nbsp;&nbsp;· Copper sulphate pentahydrate

&nbsp;&nbsp;&nbsp;&nbsp;· Sodium metabisulphite

&nbsp;&nbsp;&nbsp;&nbsp;· Sodium hydroxide

&nbsp;&nbsp;&nbsp;&nbsp;· Flocculant

&nbsp;&nbsp;&nbsp;&nbsp;· Activated carbon

&nbsp;&nbsp;&nbsp;&nbsp;· Anti-scalant

&nbsp;&nbsp;&nbsp;&nbsp;· Smelting fluxes

&nbsp;&nbsp;&nbsp;&nbsp;· Sulphamic acid

17.4.1 Pebble Lime

Pebble lime is delivered in bulk and is pneumatically conveyed from the tanker to the pebble lime silo located adjacent to the ore stockpile. Pebble lime is extracted from the lime silo and fed onto the SAG mill feed conveyor in a solid form for pH control in leaching as required.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

17.4.2 Hydrated Lime

Hydrated lime is delivered in bulk bags, which are lifted using a frame and hoist into the hydrated lime bag breaker on top of the mixing/storage tank. The solid reagent is discharged into the tank and is slurried in process water to achieve the required dosing concentration. The slurried hydrated lime is pumped through a ring main with distribution points in leaching/CIL and cyanide destruction. An extraction fan is provided over the lime bag breaker/mixing tank to remove reagent dust that may be generated during reagent addition/mixing.

17.4.3 Sodium Cyanide

Sodium cyanide is delivered to site in secured boxes containing the reagent bulk bags. Bags are lifted using a frame and hoist into the sodium cyanide bag breaker on top of the tank. The solid reagent discharges into the tank and is dissolved in water to achieve the required dosing concentration. A sodium cyanide dust collector is located at the top of the mixing tank to collect reagent dust and return it to the mixing tank. The sodium cyanide dust collector is assisted by the sodium cyanide dust fan. After the mixing period is complete, cyanide solution is transferred to the cyanide storage tank using a transfer pump. Sodium cyanide is delivered to the leach circuit, intensive leach reactor and elution circuit with dedicated dosing pumps. An extraction fan is provided over the sodium cyanide bag breaker/mixing tank to remove reagent dust that may be generated during reagent addition/mixing.

17.4.4 Sodium Metabisulphite (SMBS)

SMBS is delivered as solid flakes in bulk bags and stored in the warehouse. Process water is added to the agitated SMBS mixing tank. Bags are lifted using a frame and hoist into the SMBS bag breaker on top of the tank. The solid reagent is added to the tank and dissolved in water to achieve the required concentration. An SMBS dust collector is located at the top of the mixing tank to capture reagent dust and return it to the mixing tank. The SMBS dust collector is assisted by the SMBS exhaust fan.

After the mixing period is complete, SMBS solution is transferred to the SMBS storage tank using the SMBS transfer pump. SMBS is delivered to the cyanide destruction circuit using the SMBS dosing pump. An extraction fan is provided over the SMBS mixing tank to remove SO2 gas that may be generated during mixing. The SMBS mixing area is ventilated using the SMBS area roof fan.

For the plant expansion, SMBS will be replaced with a sulphur burner system as a source of SO2 for cyanide destruction. Solid sulphur prills will be supplied to the site and melted in a tank. Liquid sulphur and process air will be delivered to a refractory-lined atomizing sulphur burner, where combustion generates SO2 gas, which will be cooled prior to being sparged into the cyanide destruction tanks.

17.4.5 Sodium Hydroxide (NaOH)

Sodium hydroxide (caustic soda) is delivered in totes as a 50% w/w solution and stored adjacent to the elution circuit until required. Dosing pumps automatically deliver the reagent to the required locations—gravity concentrate intensive leach reactor (ILR), elution circuit, electrowinning, and cyanide solution mixing—to ensure the dosing requirements are met.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

For the plant expansion, the existing SMBS makeup and storage circuit will be repurposed to prepare solid NaOH. Solid NaOH pearls will be delivered in bulk bags and will be mixed with water to the appropriate solution strength.

17.4.6 Hydrochloric Acid (HCl)

Hydrochloric acid is delivered in totes as a solution and stored adjacent to the elution circuit until required. Hydrochloric acid with 32% strength is mixed with raw water (inline) to achieve the required 3% w/v concentration. Hydrochloric acid is delivered to the acid wash circuit using the hydrochloric acid dosing pump.

17.4.7 Flocculant

Powdered flocculant is delivered to site in bulk bags and stored in the warehouse. A self-contained mixing and dosing system is installed, including a flocculant storage hopper, a flocculant blower, flocculant wet jet mixer, flocculant mixing tank (agitated), and flocculant dosing pump. Powdered flocculant is loaded into the flocculant storage hopper using the flocculant hoist. The dry flocculant powder is transferred to the flocculant hopper, and from the hopper it is pneumatically transferred into the wet jet mixer, where it is contacted with fresh water.

A flocculant solution at 0.50% w/v is agitated in the flocculant mixing tank for a preset period. After a pre-set time, the flocculant is transferred to the flocculant storage tank using the flocculant transfer pump. Flocculant is dosed to the tailings thickener using variable speed helical rotor style pump. Flocculant is further diluted just prior to the addition point.

For the plant expansion, a second flocculant system will be provided for the new tailings thickener.

17.4.8 Activated Carbon

Activated carbon is delivered in solid granular form in bulk bags. When required, fresh carbon is introduced into the carbon quench tank or directly into the final CIL tank.

17.4.9 Anti-Scalant

Anti-scalant is delivered as a solution in 1 m³ totes and stored in the warehouse until required. Anti-scalant is dosed without dilution. Positive displacement-style dosing pumps deliver the anti-scalant to the strip solution tank as needed.

17.4.10 Gold Room Smelting Fluxes

Borax, silica sand, sodium nitrate, and soda ash are delivered as solid crystals/pellets in bags or plastic containers and stored in the warehouse until required.

17.4.11 Sulphamic Acid

Sulphamic acid is delivered in 25 kg poly bags. The solution is prepared and dosed at a concentration of 10% w/w using a peristaltic pump. Sulphamic acid is used to descale calcium carbonate precipitates that form in the heating and heat recovery system, which is part of the elution system.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

17.5 Services and Utilities

17.5.1 Oxygen

Oxygen is injected into leach, CIL, and cyanide destruction tanks. Oxygen is produced in a vacuum swing adsorption (VSA) plant at site to meet requirements. This system is provided as a rental. For the plant expansion, additional VSA rental units will be provided for the increased throughput.

17.5.2 Process / Instrument Air

Low-pressure air blower supplies the required air to the pre-aeration tank and the back end of the CIL tank train. For the plant expansion, low-pressure air will be supplied to the converted pre-aeration tanks.

High-pressure air is produced by compressors to meet plant requirements. The high-pressure air supply is dried and used to satisfy both plant air and instrument air demand. Dried air is distributed via the air receivers located throughout the plant.

For the plant expansion, a small compressor will be installed in the secondary crushing circuit for dust collection pulsation air requirements.

17.5.3 Water Supply

Details of the water supply into the Process Plant are described in Section 18.3.

17.5.4 Fresh Water Supply System

Fresh water is supplied from Victoria Lake to the fresh/firewater tank. Fresh water is used for all purposes requiring clean water with low dissolved solids and low salt content.

Fresh water is stored in the fresh/firewater tank for use in process applications and as fire water for use in the sprinkler and hydrant system, and cooling water for mill motors and mill lubrication systems (closed loop).

17.5.5 Process Water Supply System

Overflow from the tailings thickener and TMF decant water meet the main process water requirements. Fresh water provides any additional make-up water requirements.

For the plant expansion, overflow from the pre-leach thickener (repurposed tailings thickener) and new tailings thickener, and TMF decant water will meet plant process water requirements. The existing system will be modified to include a filtration circuit to produce treated TMF decant water for the gravity circuit, reagents and sulphur burner.

17.5.6 Gland Water

One low-pressure and one high-pressure gland water pumps supply gland water to all slurry pump applications in the plant. Gland water is sourced from the process water system. For the plant expansion, redundant pumps will be installed.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

17.6 Plant Consumption

17.6.1 Energy

The power demand for the Process Plant, along with the rest of the Project, is provided by grid power from NL Hydro and is discussed in Section 18.

Plant site power demand is summarized in Table 17-2.

#### Table 17-2: Plant Operating Load

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| **Power** | **Existing Plant** | **Plant Expansion** |
| Grid Power | 8.1 MW | 19.4 MW |

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17.6.2 Reagents and Consumables

Reagents and consumables usage are summarized in Table 17-3

#### Table 17-3: Reagents and Consumables Consumption

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| **Item** | **Form** | **Unit** | **Existing Plant<br> (2.5 Mt/a)** | **Plant Expansion <br> (5 Mt/a)** |
| Activated Carbon | Coconut shell, grade 6 x 12 mesh | g/t feed | 40 | 40 |
| Copper Sulphate | Blue crystal, pentahydrate, 99.5% minimum purity | kg/t feed | 0.15 | 0.10 |
| Flocculant | Powder, 97.5% minimum purity | g/t feed | 30 | 60 (30 per thickener) |
| Hydrochloric Acid | Liquid, 33% w/w | m³/strip | 1.2 | 1.2 |
| Pebble Lime | Granules, 90% minimum available CaO | kg/t feed | 2.6–5.0 | 2.6–-5.0 |
| Hydrated Lime | Powder, 90% minimum available CaO | kg/t feed | 0.5–1.0 | 0.5–1.0 |
| Sodium Cyanide | Powder, 98% minimum purity | kg/t feed | 0.75–1.50 | 0.75–1.50 |
| Sodium Hydroxide | Liquid, 50% w/w | kg/t feed | 0.15 | - |
| Sodium Hydroxide | Granules, 100% NaOH | kg/t feed | - | 0.075 |
| SMBS | Powder, 97.5% minimum purity | kg/t feed | 1.16–1.46 | - |
| Sulphur | Granules/prills, 99.5% minimum purity | kg/t feed | - | 0.25–0.32 |
| Oxygen | Produced onsite | kg/t feed | 1.6 | 1.6 |
| Anti-scalant | Liquid | kg/t feed | 0.015 | 0.015 |
| Sulphamic Acid | Powder | g/t feed | 5 | 5 |
| SAG Mill Media | 125 mm balls | kg/t feed | 0.74 | 0.74 |
| Ball Mill Media | 50 mm to 75 mm balls | kg/t feed | 0.87 | 0.87 |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

18.0 Project Infrastructure

18.1 Access Roads

Access to the mine site is via an existing 80 km public gravel road, which was upgraded during project construction. The gravel road leads to the Town of Millertown and to the paved Buchans Highway, which connects to the Trans-Canada Highway.

Personnel assemble near Millertown and bus to site for their shift rotations on site.

Sections of the road between the site and Millertown are single-lane only, including 13 single-lane only bridges. Mine personnel vehicle operators driving on the access road must be equipped with a radio and use a specific radio frequency monitored by mine security to call out their position and direction (inbound or outbound) on this road.

18.2 Power

Power to the mine is supplied by Newfoundland Labrador Hydro (NL Hydro). NL Hydro's Star Lake 18.4 MW hydroelectric generation station, which is located approximately 20 km northwest of the mine site, is part of NL Hydro's 604 MW Bay d'Espoir generating system. The generating station supplies power to the mine site via a new 40 km-long, 66 kV transmission line. The supplied power is stepped down to 6.6 kV for distribution within the mine site. The mine's electrical substation has two transformers with 100% capacity redundancy.

The mine's current peak power supply is 19.0 MW. For the planned Process Plant expansion, an additional 13.0 MW for peak demand is anticipated. Onsite diesel gensets are expected to provide this power on a temporary basis while NL Hydro performs an electrical system impact study to confirm the additional power availability and completes the interconnections or upgrades required at its Star Lake station. At the mine site, a second electrical substation is anticipated to be constructed to support the additional power load for the process plant expansion.

18.3 Water

**Administrative Water Services**

The primary source of water to meet the Process Plant's water demand is the reclaimed water from the TMF tailings pond, and the secondary source is fresh water from NL Hydro's Victoria Lake reservoir. Fresh water sourced from Victoria Lake is stored in a fresh/firewater tank, from which it is distributed to the Process Plant, the potable water treatment system, and to the firewater system.

A sewage treatment plant and septic field are operational at the site to treat all sewage generated from the camp facilities. All sewage from operational areas at the site is currently trucked to an off-site facility for treatment and disposal. A potable water plant supplies the camp facilities, utilizing freshwater from the Victoria Lake reservoir.

**Surface Water Management**

Water management involves collecting surface-contact water runoff from facilities and containing it in sedimentation ponds to minimize total suspended solids prior to controlled release into the receiving environment. There are 21 ponds planned to be built for water collection and sediment management. The ponds are sized for storm events up to 1:100. Annual Exceedance Probability (AEP) with spring snowmelt and to accommodate climate change by providing flood relief up to the 1:200 AEP in the spillway. The water quality design storm event is based on a minimum of 24 hours of residency time prior to release.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Based on ongoing development of operational areas and water management needs, a total of six ponds are at or nearing completion, and, as such, the surface water management system is considered under construction by regulators, with no discharge to the receiving environment. It is expected that portions of the water management system will be commissioned in 2026 and that active discharge to the receiving environment will commence. The Mine has commissioned an external study to optimize the overall water management system and identify options to reduce the number of ponds.

The mine site is subdivided into several complexes for water management: Marathon, Berry, Leprechaun, and the Process Plant and TMF. Water management in these complexes functions independently, with decentralized water treatment in each. The water management components include sedimentation ponds, dams, drainage ditches, and pumps to collect and contain surface water runoff from stockpiles (waste and ore) and pits. The Mine is currently evaluating the needs for the use of flocculants, and/or coagulants as part of the sediment management infrastructure for its overburden stockpiles. Water discharge from these complexes is into various ponds and/or tributaries, and ultimately into Victoria Lake and/or Valentine Lake. For the TMF, water will be routed to a water treatment plant followed by a submerged attached growth reactor (SAGR) unit prior to discharge into Victoria Lake. For the Process Plant area, water is collected in a sedimentation pond and discharged to a nearby tributary.

18.4 Process and Mining Buildings

Building infrastructure includes the Process Plant, plant maintenance shops and storage, plant administration, laboratory, mine dry, truck shop and storage, truck wash, explosives storage, fuel station, and security. Construction of a permanent two-bay truck shop and storage building is currently in progress to replace the temporary facility used for construction, and three additional bays are planned for 2027; a further expansion of two additional bays is anticipated to support the Phase 2 mine plan. The current fuel farm can store 950,000 litres, and this capacity will expand to 1,800,000 litres to support the Phase 2 mine plan expansion. The existing mine dry will be expanded to support the Phase 2 mine plan to accommodate the headcount increase of approximately 50%.

18.5 Accommodation Camp

The permanent and construction camps are located within the mine site and can currently accommodate up to 650 people in total. Construction of a new 200-person camp for operations has begun and is expected to be completed by the end of Q1 2026. The new camp will phase out some of the accommodation in the construction camp, and the total capacity for camp accommodation will be 765 people. As part of the Phase 2 expansion, an additional camp with capacity for 400 people will be built, bringing total accommodation capacity to 1,165.

18.6 Tailings

WSP (and its predecessor company Golder Associates) has performed specialized geotechnical and hydrologic engineering services for the design of the TMF, including design of the tailings dam and ancillary hydraulic structures and tailings deposition planning. Since 2019, WSP has been responsible for the ongoing design and, since 2023, for construction quality assurance (CQA) and Engineer of Record (EOR) services during the staged construction of the TMF.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

An Independent Tailings Review Board (ITRB) was formed in 2022 and has been involved on an annual basis to provide oversight during the lifecycle of the TMF. The ITRB's oversight of the TMF is an ongoing process. The purpose of the ITRB is to review and advise on the design, construction, operation, performance, and closure planning for the TMF. Recommendations from the ITRB have been incorporated into the TMF design.

#### Geotechnical Subsurface Investigations
GEMTEC Consulting Engineers and Scientists (GEMTEC) has conducted geotechnical and hydrogeological foundation investigations from 2019 to 2020 and 2021. These programs have included excavating numerous test pits and drilling numerous boreholes. Soil samples collected from test pits and boreholes were tested in a geotechnical laboratory. In situ hydraulic conductivity testing of foundation soils was performed. Piezometers/monitoring wells were installed in the boreholes at various depths to facilitate groundwater monitoring and testing. The groundwater table is very shallow and is typically no deeper than 1 m below ground surface.

Due to a lack of availability and/or sufficient quantities on site, sand and gravel materials for the TMF bedding and filter zones are produced from crushing and screening waste rock sourced from mining operations, and geosynthetic liners are used for low-permeability applications.

#### Design Criteria
The TMF is currently designed to receive approximately 31.6 million tonnes (Mt) of milled tailings at an average dry density of 1.42 t/m<sup>3</sup>. The tailings are thickened to a target 65% solids content (by mass). A cyanide destruction system is used to process all tailings water before it is sent to the TMF.

In accordance with the Canadian Dam Association (CDA) Dam Safety Guidelines, the TMF dams have been classified as having a 'Very High' hazard potential. This classification is based on the potential environmental impacts and population at risk in the event of a catastrophic failure. The TMF was designed to meet the minimum allowable factors of safety for static and pseudo-static loading conditions recommended by CDA.

Dam design criteria include storage for the Environmental Design Flood (EDF), defined as a 100-year return hydrologic event (7-day rain event or 30-day spring freshet rain-on-snow) applied to the highest normal operating pond level and with no discharge through the emergency spillway. A trapezoidal-shaped emergency spillway is currently being installed to safely pass the Inflow Design Flood (IDF), which is a routed Probable Maximum Flood (PMF) with a 24-hour duration. Based on the hazard classification, the TMF dams are designed for seismic events with return periods of 1:2,475 to 1:10,000 (Maximum Credible Earthquake) during the TMF's operational period.

#### Dam Design
Tailings impoundment is provided by the construction of perimeter zoned dams that form a horseshoe-shaped side-hill facility that is contained by natural ground on the northwest side. The dam is raised in stages, with a final maximum height of 45.5 m and a final crest length of approximately 3,000 m. The dams are constructed primarily using waste rock from open pit stripping and mining operations.

The cross-section design for the TMF dams consists of a geosynthetic low-density polyethylene (LLDPE) plastic liner covering the upstream slope, with an underlying geotextile, sand filter/bedding, and sand/gravel transition layers that are designed to ensure filter compatibility and prevent internal erosion and piping into the adjacent downstream rockfill dam shell. The geosynthetic liner protects the upstream dam slope from surface-water erosion caused by waves or runoff until tailings beaches are established along the slope. A blanket filter, which comprises the same sand filter/bedding and sand/gravel transition layers, was constructed between the foundation soil and the rockfill embankment and along the upstream toe of the central dam to protect against potential vertical seepage forces from within the dam's foundation and also to reduce the risk associated with internal erosion and piping.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

The geosynthetic LLDPE liner extends 100 m upstream of the dam toe into the reservoir to reduce the foundation seepage rate, reduce the critical hydraulic gradient at the toe of the dam, and cut off any potential permeable zones of bedrock outcrops and/or sandier overburden materials which may be present within the reservoir and adjacent to the dam. A geosynthetic clay liner (GCL) is installed beneath the geomembrane liner in the reservoir to provide a low-permeability layer that protects the liner from potential puncture damage.

A seepage and runoff collection ditch is installed downstream of the dams to collect any water and convey it to a collection sump, where it is pumped back into the TMF reservoir.

A SAGR (submerged attached growth reactor) unit will be constructed to replace the polishing pond from the feasibility study for the TMF and the Process Plant. After pre-treatment of process water for dissolved metals and cyanide destruction, biological treatment of process water contained in the TMF with SAGR will reduce the overall ammonia concentration to non-toxic levels via nitrifying bacteria and aeration. Excess biomass created as a byproduct of ammonia detoxification will be aerobically digested within the SAGR. Water discharged from the SAGR is predicted to be low in suspended solids, metals, thiocyanate, cyanate, ammonia, and bacteria.

The TMF dams are constructed in stages. Construction of the TMF starter dams (Stage 1) and the subsequent initial dam raises (Stage 2) were built in 2023 and 2024, respectively. Construction of the next dam raise (Stage 3) is ongoing and will be completed in 2026, with a minimum crest elevation of 381 m and a planned ultimate minimum crest elevation of 392 m. The TMF dams will be periodically raised using downstream construction methodology, and the geomembrane liner, internal bedding, and filter zones will be extended with each expansion of the rockfill dams. An emergency spillway and discharge channel are being built as part of Stage 3 construction.

Figure 18-1 shows the general arrangement of the TMF with Stages 1 and 2 completed and Stage 3 construction underway. Tailings deposition has recently been initiated in the reservoir.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 18-1: Completed TMF for Tailings Deposition (October 2025)
An Operations, Maintenance and Surveillance (OMS) Manual, in accordance with the Mining Association of Canada's guidelines, has been put in place for the TMF. Geotechnical instrumentation has been installed to monitor the performance of the TMF dams, including vibrating-wire piezometers to measure pore-water pressure within the dams and foundations. Instrumentation data is reviewed by WSP.

#### Tailings Characteristics
Tailings geochemistry indicates that the ore is considered non-potentially acid generating (NPAG) and therefore is not expected to generate acid rock drainage (ARD).

#### Tailings Deposition Plan
Tailings deposition into the TMF began in August 2025. Tailings are deposited as a thickened slurry from the dam crests and from the natural high ground on the northwest site of the reservoir to produce a wide, exposed beach. The beach will displace the tailings supernatant pond away from the dams and towards natural ground along the eastern side of the reservoir and the emergency spillway, enhancing long-term dam stability. A barge-mounted pump system draws water from the supernatant pond and returns it to the processing plant.

A water balance has been developed for the TMF and is coupled with the tailings deposition plan to inform the timing of TMF dam raises. The water balance and tailings deposition plan are intended to be updated through the operational life of the TMF based on operational and performance data.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Storage Capacity
The TMF is designed to store 31.6 Mt of tailings. A total of 0.7 Mt of tailings has been deposited to year-end 2025, and an additional 51.0 Mt of tailings will be delivered to the TMF over the remaining LOM. The TMF is anticipated to be filled by 2033 based on the current and expansion process plant capacity, and there will be a shortfall of approximately 20.1 Mt of tailings storage. For additional storage capacity, tailings may subsequently be deposited into the mined-out Berry open pit in 2033 and for the remainder of the mine life. Engineering studies to support the in-pit deposition plan will be performed to design the required tailings distribution and reclaim piping system and associated pumping systems, as well as the tailings deposition and water reclaim plans.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

19.0 Market Studies and Contracts

Equinox has not completed any formal marketing studies on the gold production expected from the mining and processing of gold ore from the Valentine Gold Mine into doré bars. Gold production is sold on the spot market. Terms and conditions included in sales contracts are typical of similar contracts for the sale of doré worldwide. Gold is bought and sold on many world markets, and it is not difficult to obtain a market price at any time. The gold market is very liquid, with numerous active buyers and sellers.

Equinox contracts out the transportation, security, insurance, and refining of doré gold bars. Equinox has contractual rates with Asahi Refining for the refining costs associated with doré gold bars produced at the Valentine Gold Mine, which are included in the costs reflected in this technical report. Equinox may enter contracts for the forward sale of gold or similar contracts under terms and conditions that are typical of and consistent with industry practices in Canada and worldwide.

**Overview of Material Contracts**

In accordance with NI 43-101, this section summarizes the contracts considered material to the development and operation of the Project. For purposes of this Technical Report, the QP has defined "material" contracts as agreements with a total contract value exceeding approximately US$10 million over their term, or agreements otherwise essential to ongoing operations.

The following categories of contracts are currently in place and considered material to operations:

&nbsp;&nbsp;&nbsp;&nbsp;· Fuel supply agreements

&nbsp;&nbsp;&nbsp;&nbsp;· Cyanide supply agreements

&nbsp;&nbsp;&nbsp;&nbsp;· Grinding media supply agreements

&nbsp;&nbsp;&nbsp;&nbsp;· Explosives supply agreements

These agreements are structured as multi-year supply contracts supporting ongoing mining and processing operations. The QP understands that no other contracts meeting the above materiality threshold are presently under negotiation.

**Development and Operating Contracts**

The current material agreements primarily cover consumables and operational inputs required for mining and processing activities. At the effective date of this report:

&nbsp;&nbsp;&nbsp;&nbsp;· No material mining, concentrating, smelting, refining, transportation, handling, sales, hedging, or forward sales contracts were identified beyond the supply agreements noted above.

&nbsp;&nbsp;&nbsp;&nbsp;· The Issuer has confirmed that no material contracts, as defined herein, are currently under negotiation.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

**Commercial Terms and Industry Norms**

The Issuer has advised that the terms, rates, and charges under the above-noted agreements are consistent with industry norms for comparable operations. Based on discussions with management and review of operating cost assumptions used in this Technical Report, the Qualified Person is not aware of any contract terms that would be considered outside normal commercial practice for similar operations. Specific pricing, rates, and commercial terms are confidential and have not been disclosed in this report.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

20.0 Environmental Studies, Permitting, and Social or Community Impact

Valentine has been in commercial operation since November 2025 with environmental programs and studies focused on compliance obligations required under the various permits, licenses, and authorizations in force since the completion of the federal environmental impact statement and provincial environmental assessment (EIS/EA) processes, or that have been obtained in the period since the completion of the EIS/EA.

Consultation with stakeholders (e.g., community members, agencies, interested parties) and Indigenous communities is an integral part of the Project. Active participation through consultation helps to achieve an open and transparent process, build trust, enhance awareness of the Project, and strengthen the quality of results. Consultation occurred throughout mine planning, permitting, and mine construction, and Valentine is committed to maintaining stakeholder relationships through operations and into closure. Socio-economic agreements (SEAs) have been established with two Indigenous communities. Social and community considerations are described in Section 20.4.

20.1 Site Environmental Conditions and Monitoring Programs

Environmental conditions and studies described in this section are summarized based on information documented in EIS/EA baseline reports and annual regulatory submissions required under the various permits and EIS/EA conditions. The Project Area footprint is shown in Figure 20-1.

A monitoring framework for both compliance and effects monitoring has been established for the Project and applies to all phases of development, operations, and closure. A series of 11 environmental follow-up monitoring plans (FMPs) and 13 other plans have been developed for the Project, which outline environmental protection measures that Valentine, the contractor, and subcontractors must implement and adhere to avoid or reduce potential adverse effects. These plans outline adaptive management and contingency measures to respond to incidents of environmental non-compliance or other potential adverse effects arising from the Project's operations. Contingency measures specific to each FMP are implemented if regular environmental and compliance monitoring programs detect deviations from standard operating conditions that result in, or may lead to, adverse environmental effects.

These FMPs are living documents and require refinement following permit amendments, monitor program modification, changes in company policies and procedures, and the evolution of industry best-management practices. Program plans are iterative by nature, and the monitoring activities associated with the Project will inform adaptive management, a process for continuously improving environmental management practices.

20.1.1 Physiography

Valentine is located within the Red Indian Lake Subregion of the Central Newfoundland Forest (CNF) Ecoregion (Newfoundland and Labrador Department of Fisheries and Land Resources [NLDFLR] 2019a). This ecoregion typically consists of rolling hills, dense forest, and organic deposits occurring in valleys and basins (Protected Areas Association [PAA] 2008).

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 20-1: Project Area Geology and Geomorphology
Source: Equinox 2026.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Terrain (i.e., topography and landforms) varies and includes boggy areas, thin to thick glacial till layers, and bedrock outcrops. Scattered wetlands, specifically patterned fens and bogs are common in the project area and vicinity.

20.1.2 Geology

The Valentine Gold Mine Property is underlain by five major lithological units including, from northwest to southeast, the Victoria Lake Supergroup (bimodal volcanic rocks, volcanogenic and siliciclastic sedimentary units), the VLIC, the Rogerson Lake Conglomerate, the Victoria Lake Supergroup metasedimentary units and lesser gabbroic and mafic volcanic rocks and the Red Cross lake intrusion.

The Victoria Lake Supergroup outcropping along the northwest boundary of the Valentine Gold Mine Property area consists mainly of low-grade Cambrio-Ordovician volcanics and sequences of clastic sedimentary rocks of the Tulks Hill assemblage. This assemblage represents two packages of bimodal volcanic and clastic sedimentary rocks referred to as the Long Lake volcanic belt and the Tulks sequence of banded to finely laminated siltstone, argillite, and tuffaceous siltstone with minor intercalated mafic tuff. License 020482M covers a portion of the Long Lake volcanic belt and is dominantly underlain by felsic and mafic volcanic rocks. In this area, the Long Lake volcanic belt is underlain by a thick sequence of black graphitic shale, which separates the Long Lake volcanic belt from volcaniclastic sedimentary units of the Stanley Waters Formation.

The entire Project area is overlain by glacial till between 1 and 5 m thick, as well as deeper boggy areas and ponds, with only rare bedrock exposures along the ridge and in stream beds.

20.1.3 Acid Rock Drainage/Metal Leaching Potential

A comprehensive geochemical testing program was completed as part of the environmental assessment process to characterize waste rock, ore, overburden, and tailings associated with the Project. This section presents the characterization results for waste rock and tailings materials.

#### Waste Rock
In the Marathon deposit, the overall percentage of potentially acid-generating (PAG) waste rock is estimated to be between 1.5% and 4% using the acid rock drainage (ARD) block model and sample-count methods, respectively. Sediments are classified as non-PAG rock regardless of method used. The geological and ARD block models provide the following percentages of PAG rock tonnages in modelled lithologies:

&nbsp;&nbsp;&nbsp;&nbsp;· quartz zones of non-ore QTP veins (7.4% to15%)

&nbsp;&nbsp;&nbsp;&nbsp;· Quartz Porphyry varieties (1.9% to 4.7%)

&nbsp;&nbsp;&nbsp;&nbsp;· gabbro (0.2% to 2.6%)

&nbsp;&nbsp;&nbsp;&nbsp;· mafic dykes (0.4% to 0.9%)

PAG QTP veins, Quartz Eye Porphyry (QE-POR), and gabbro are not expected to generate acidity within 31, 45, and 4.7 years of exposure, respectively. These estimates of ARD onset are based on neutralization potential (NP) depletion times in humidity cell tests (HCTs) containing PAG rock from the respective lithologies.

In the Leprechaun deposit, the overall estimated percentage of PAG (and uncertain) waste rock is 1.0% of the total rock tonnage. PAG rock is only associated with quartz zones of non-ore QTP veins in Sediment (SQTP) and in Trondhjemite / Granodiorite (QZ-TQTP), while all samples of pure trondhjemite/granodiorite and sediments are non-PAG. Samples of mafic dykes, even with non-ore QTP veins, are all non-PAG.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

In the Berry deposit, the overall estimated percentage of PAG (and uncertain) waste rock is 11% based on 263 acid-based accounting (ABA) test results for the Berry deposit waste rock. All waste rock units in the Berry deposit returned PAG samples; however, the QE-POR and QTP units have the highest percentages, at 19% and 20%, respectively.

#### Tailings
Composite samples of tailings from Marathon, Berry, and Leprechaun deposits are classified as non-PAG and are not expected to generate ARD. Sensitivity analysis of tailings chemistry indicates that, because of mixing of Marathon, Berry, and Leprechaun ores, tailings are not expected to be PAG.

During operation, concentrations of arsenic (As), copper (Cu), and total cyanide (CN(T)) in the TMF will likely exceed the *Metal and Diamond Mining Effluent Regulations* (MDMER) limits. Seepage from the TMF is predicted to exceed MDMER limits for copper in post-closure. The water quality model results confirm exceedances of Canadian Water Quality Guidelines (CWQG) for Al, Ag, As, F, Fe, Cd, Cl, CN<sub>WAD</sub> (a surrogate for CN<sub>Free</sub>), Cr, Hg, Mn, Mo, P, Pb, un-ionized ammonia, total ammonia, NH<sub>3</sub>+NH<sub>4</sub>, nitrite, and Se, Tl, U, Zn, in discharge from the TMF pond. An assimilative capacity study indicates that TMF pond effluent, treated to meet all parameters and discharge limits, would also be below the CWQG thresholds or background concentrations within 300 m of the regulatory mixing zone.

#### Operational Characterization and Management
An operational sampling program has been developed as part of the ARD/ML Management Plan with the sampling frequency shown in Table 20-1. The operational characterization program is at an acceptable frequency and will provide valuable information for materials management at the Project. The ARD/ML Plan also outlines the process for management of PAG materials placed into the waste stockpiles.

#### Table 20-1: Operational ARD/ML Characterization Program

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| **Material Type** | **Estimated Tonnage** | **Sampling Frequency** |
| Overburden | 11.7 Mt | 1 per 50,000 t |
| Waste/Construction Rock | 317 Mt | 1 per 9,000 t |
| Ore | 47.1 Mt | 1 per 9,000 t |
| Tailings (End of Pipe) | 47 Mt | 1 per 48,000 t (Year 1 to 3)<br>1 per 77,000 t (Year 4 to 9/10)<br>|
| Tailings (beaches) | To be determined at closure | 1 per 10,000 m<sup>2</sup> |

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20.1.4 Atmospheric Environment

Existing meteorology and climate in the Project Area are characterized by using climate and wind data from representative meteorological stations, with sufficient data availability, located nearest to the Project. Daily average temperatures range between -8.4°C to 16.3°C, with the lowest average temperatures occurring in February and the highest occurring in July. Extreme daily maximum and minimum temperatures range between -33.5°C (February) to 33°C (July). Annual average precipitation is 1,236 mm, with 359 cm of snow and 877 mm of rain and average monthly precipitation totals range between 86 mm (April) and 123 mm (December). Prevailing winds are from the southwest and northeast with highest winds occurring most frequently from the southwest and lowest wind speeds most frequently from the north and northeast.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

As there is limited development in the vicinity of the Project, there are few outside sources of air contaminants from human activity in the area. Given the nearest sources of air emissions are well outside the Project Area (private quarries), it is unlikely that air contaminant releases from these sources would contribute in a substantive way to reduce air quality at the Project.

Air quality impacts from operations at the Project are related to fugitive dust from roads, material extraction, stockpiles, loading/unloading operations fuel combustion and the from processing plant. During the decommissioning, rehabilitation and closure phase of the Project, air contaminant releases will be similar to, or less than, those during construction and operation. An air quality transport and dispersion model provides the link between the air contaminant releases and changes to ambient concentrations. Continuous, real-time, air quality monitoring at the Project includes meteorological monitoring (wind speed and wind direction) and ambient air monitoring for total suspended particles (TSP), particulate matter (10 µm diameter) PM<sub>10</sub>, and PM<sub>2.5</sub> concentrations during the operation of the Project. In addition to continuous particulate monitoring, periodic integrated sampling for trace metals is proposed during the first three years of operation.

Results from the ambient air monitoring program are reported monthly to the Newfoundland and Labrador Department of Environment, Conservation and Climate Change (NLDECCC) as required under the Certificate of Approval issued by the NLDECCC. The 2025 ambient air sampling program was conducted at the Project to measure ambient concentrations of TSP, metals, and mercury representative of conditions during the Project's construction phase. The daily 24-hour averages for all samples on the Project were below the threshold limit in the NL ambient air quality standard (AAQS) of 120 mg/m<sup>3</sup>. One sample taken at the Victory exploration site 5 km northeast of the Mine and 85 m from the Mine access road exceeded the NL AAQS limit with the exceedance being attributed to access road traffic.

20.1.5 Acoustic Environment

Valentine is in a remote area with limited human activity, and no substantive anthropogenic noise sources within 50 km. The mine site is located approximately 49 km southwest of the Town of Buchans and 60 km southwest of the Town of Millertown. Within the Local Assessment Area (LAA) and the Regional Assessment Area (RAA), during the baseline there were approximately 36 dwellings (one inactive outfitter, one existing accommodations camp (Exploration), one proposed accommodations camp, and 33 cabins), which represent the nearest sensitive receptors to the Project.

The results of the acoustic modelling conducted in support of the EIS, as well as updated modelling for the inclusion of Berry Pit to the Project, demonstrated compliance of the proposed facility with Health Canada's annoyance criteria (i.e., percent highly annoyed [%HA]) at each of the noise sensitive receptors within the LAA/RAA. With respect to sleep disturbance, sound pressure levels at receptors beyond the mine site boundary were not predicted to exceed the sleep disturbance threshold of 45 dBA recommended by Health Canada (2017) during operations. However, the nighttime sound pressure levels were greater than the nighttime target of 45 dBA at the accommodations camp.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

During construction and operation, sources of noise include the operation of heavy mobile equipment and vehicles for tree clearing and grubbing, earthworks and material handling at the Project, as well as other vehicle traffic at the site and along the access road (e.g., materials transport, rotation changes, etc.), which also generate sound emissions. Other sources of noise emissions include blasting, rock breaking, crushing, and processing.

Through the Noise Follow-up Monitoring Program, ambient sound levels are monitored and assessed relative to existing regulatory criteria and guidelines. These noise monitoring results will guide the implementation of adaptive management for noise emissions and be used to validate the acoustic modelling conducted to support the EIS. Where necessary, and to the extent feasible, mitigation measures will be implemented to reduce noise levels from the Project activities. Monitoring during 2025 was conducted quarterly, with exceedances of the %HA and potential wildlife disturbances linked to the period of peak construction activities and activities such as snow clearing. The exceedances were episodic and not sustained.

20.1.6 Groundwater

The prominent topographic ridge that underlies the Project is inferred to act as a regional flow divide for both surface water drainage and groundwater flow and defines an area of groundwater recharge. Overall, the direction of shallow groundwater flow is expected to follow topography and surface runoff, and discharge into the low-lying surface waterbodies that border the property.

Locally, groundwater flow from the Marathon deposit is expected to travel southeast towards the Victoria River and northwest towards Valentine Lake, which flows into Victoria River northeast of the Project, and ultimately discharges into the Exploits River, approximately 100 km to the north. Groundwater flow from the Leprechaun deposit is expected to primarily travel south-southeast towards Victoria Lake Reservoir, with a lesser component flowing north towards Valentine Lake. Shallow groundwater flow, from the Berry deposit, is to the northwest towards Valentine Lake. Groundwater elevations vary across the site and generally reflect the topographic relief of the area, with higher groundwater elevations occurring in boreholes / wells located at higher topographic elevations. Overall, groundwater levels in the Project Area are shallow, with horizontal hydraulic gradients ranging from 1% to 17%.

Baseline water quality testing to date (Stantec 2020, 2023) indicates a calcium-sodium-bicarbonate-chloride-sulphate type groundwater that is characterized as clear (colour overall less than 15 True Colour Units [TCU]), slightly hard to hard (20.9 mg/L to 122 mg/L as Calcium Carbonate [CaCO<sub>3</sub>]), slightly alkaline with moderate acid buffering potential, and low conductivity, indicating fresh conditions. Langelier Saturation Index values for groundwater samples indicate groundwater is neither strongly corrosive nor scale-forming with respect to solid CaCO<sub>3</sub>. Metals parameters were generally low except for iron and manganese.

A groundwater FMP (the Groundwater Follow-Up Monitoring Plan [GWFMP]) was developed for the Project and includes monitoring of groundwater levels and quality. As per the GWFMP, and as required under the Certificate of Approval issued by the NLDECCC, the current monitoring network (Figure 20-2) includes 51 monitoring wells and the sampling program consists of four monitoring events per year, not less than 30 days apart, for manual water level measurements and water quality sample collection. Samples are analyzed for a standard suite of parameters including general chemistry, cyanide, and metals. The groundwater monitoring network established in the GWFMP is intended to maintain a network sufficient to assess effects to water quantity and quality if a threshold is exceeded and to assess the effectiveness of subsequent adaptive mitigation measures.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 20-2: Groundwater Monitoring
Source: Stantec 2025.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

In addition to the Valentine sampling program, as a condition of the provincial EA release for the Project, 8 of the 51 monitor wells report near-real-time groundwater data and form part of the provincial real-time monitoring network. These real-time monitoring stations are installed and maintained by the NLDECCC-Water Resources Management Division (WRMD) under a memorandum of understanding (MOU) with Valentine.

Groundwater level monitoring in 2025 showed that levels were lower than normal, but this was attributed to the dry summer experienced at the site. Results from groundwater quality monitoring completed in 2025 aligned with the predictions made during the environmental assessment process.

20.1.7 Surface Water

As previously stated, the Project is subject to the federal MDMER and, as such, is required to monitor final discharge points (FDP) for both water quantity and water quality in addition to completing an environmental effects assessment program during operations. Valentine has currently identified 19 FDP for the site. An additional FDP is in the process of being added based on a federal Notice of Project Change approval that is under review by the Impact Assessment Agency of Canada (IAAC). The surface water management infrastructure network is still under construction as discussed in Section 18.0, with six sediment ponds nearing completion. These ponds will be commissioned and brought into operation during 2026, at which time the FDP monitoring requirements under the MDMER will come into force. Construction of the remaining water management infrastructure will proceed in line with ongoing site development activities.

#### Hydrology
The Project is centered on a topographic ridge that divides the drainage between the Valentine Lake watershed to the west and the Victoria Lake Reservoir and Victoria River watersheds to the south and east, respectively. A series of large waterbodies form the Exploits and Bay d'Espoir watersheds, which are two of the largest watersheds on the Island of Newfoundland and are substantially altered and controlled by hydroelectric developments. Victoria Lake historically drained north to the Victoria River to Beothuk Lake (formerly referred to as Red Indian Lake) and then further downstream to the Exploits River. The construction of a series of dams and connecting channels associated with the Bay d'Espoir Hydroelectric facility diverted Victoria Lake from the Victoria River toward the hydroelectric facility to the east.

As a condition of the provincial EA release for the Project, six real time water quality monitoring (RTWQM) stations are installed and maintained by the NLDECCC-WRMD under a MOU with Valentine. Three of these stations are at or adjacent to the Project with the other three part of the greater water watershed assessment.

Surface water quantity at the Project is managed according to the Surface Water Follow-up Monitoring Program (SWFMP) and includes water level and flow monitoring at 13 watercourses at the Project (three of which are part of the RTWQM).

#### Water Quality
Regional water quality parameters reported at the Environment and Climate Change Canada (ECCC 2020) managed sites between 2003 and 2019 includes metals, nutrients, and physical parameters. Total alkalinity (as CaCO<sub>3</sub>) ranges from below the detection limit from 1.22 mg/L to 11 mg/L. Low alkalinity values suggest limited acid-buffering capacity in streams. Parameters were generally below the applicable Canadian Council of Ministers of the Environment (CCME) Canadian Water Quality Guidelines for the Protection of Aquatic Life (Freshwater) (CWQG-FAL; CCME 2010, 2019, 2020), with at least one reported exceedance of the maximum value for aluminum, cadmium, copper, iron and lead reported at ECCC station NF02YO0107, and aluminum and selenium at station NF02YN0001.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Surface water quality was monitored at 26 locations at the mine site between 2011 and 2019. The laboratory results indicated that pH ranged from 4.61 to 7.78 with a mean value of 6.94. A total of 18 of 26 water quality monitoring stations had pH values below the CWQG-FAL lower limit of 6.5. Local water quality was found to be similar to regional water quality in that both were found to have low alkalinity, and therefore limited acid buffering potential. Aluminum, cadmium, copper, iron and lead were also detected above the CWQG-FAL guidelines at both the regional and local water quality monitoring locations. These results indicate that metals are found in naturally elevated levels both in local and regional surface water. Local water quality monitoring revealed consistent seasonal concentration trends, and water quality in larger lakes such as Victoria Lake Reservoir and Valentine Lake was more dilute and lower in constituent concentrations than was observed in tributary watercourses, ponds, and wetlands.

The SWFMP was developed for the Project to confirm compliance with regulatory requirements, support predictions of effects of the Project on water quality, identify changes in drainage patterns and surface water flow, and determine if additional mitigation or response measures are required. As per the SWFMP, and as required under the Certificate of Approval issued by the NLDECCC, the current surface water monitoring network includes 25 designated sampling locations. Samples are collected at least 30 days apart during four monitoring events annually. Samples are analyzed for a standard suite of parameters, including general chemistry and metals, and annual reporting includes analysis of all monitoring data to determine trends and comparison to effluent limits. The surface water monitoring network established in the SWFMP is intended to maintain a network sufficient to assess effects on water quantity if a threshold is exceeded and to assess the effectiveness of subsequent adaptive mitigation measures. In addition to the Valentine surface water sampling program, three of the 25 surface water monitoring locations at the Project form part of the provincial RTWQM network.

It is important to note that the Mine did not discharge water from the Final Discharge Points as the surface water management infrastructure is still under construction and will be commissioned in 2026. Monitoring results from 2025 for surface water quality was consistent with the results presented in the environmental assessment. There was one extreme rain event where 100mm of precipitation occurred in a 24-hour period which results in some sediment discharges which were reported to the Department of Fisheries and Oceans.

Valentine is planning to commission the submerged attached growth reactor (SAGR®) during the summer of 2026. There are only a few of these units currently operating in Canada, and as such, the performance of this unit may require time to optimize.

20.1.8 Fish and Fish Habitat

Fish species identified in the vicinity of the Project include salmonids (Atlantic salmon / ouananiche [*Salmo salar*], Arctic char [*Salvelinus alpinus*], and brook trout [*Salvelinus fontinalis*]) and threespine stickleback (*Gasterosteus aculeatus*).

Victoria Lake Reservoir is not accessible to sea-run Atlantic salmon. Atlantic salmon in the LAA are primarily landlocked (i.e., ouananiche) due to numerous dams within the upper Exploits River and White Bear watersheds.

Ouananiche, Arctic char, brook trout, and threespine stickleback were confirmed present in large lakes within the RAA, including Victoria Lake Reservoir, Valentine Lake, and Beothuk Lake. Brook trout and threespine sticklebacks were commonly observed in most ponds and streams at the Project, except where natural barriers to fish passage were present. Ouananiche were found mainly in lakes and large ponds (e.g., Victoria Lake Reservoir, Valentine Lake, Beothuk Lake), their connecting streams, and the Victoria River. Arctic char were only found in large deep lakes, including Victoria Lake Reservoir, Valentine Lake, and Beothuk Lake. All life stages of each fish species are present in the vicinity of the Project.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

There are no aquatic Species at Risk (SAR) known to be present in the Project Area. Although not confirmed as present during baseline surveys, there is potential for American eel (*Anguilla rostrata*), listed as Threatened by the Committee on the Status of Endangered Wildlife in Canada (COSEWIC 2012), to occur in the general region of the Project. American eel has the potential to occur within the RAA and LAA on the south side of Beothuk Lake along the Project access road; however, it is not known to occur in Victoria Lake Reservoir or Valentine Lake.

The Project has developed a Fish and Fish Habitat Follow-up Monitoring Plan (FFHFMP). The intent of the FFHFMP is to verify the accuracy of the EIS / EA predictions and to assess the effectiveness of mitigation measures for planned and routine Project activities as they relate to fish and fish habitat.

In 2025, monitoring under the FFHFMP focused on construction monitoring, offset monitoring, and the Spring Littoral Index Netting Program (SLIN). A sediment release in November 2025 was reported under the Construction Monitoring program, and a Cautionary Letter outlining agreed-upon mitigation measures was issued to Valentine in December 2025. An inspection by Fisheries and Oceans Canada (DFO) later in December found satisfaction with the Project's efforts to implement the mitigation measure. Offsetting programs have primarily focused on removing submerged pulpwood in the Victoria River system to improve salmonid habitat. The offsetting program is a multi-year effort conducted by Victoria Outfitters. The SLIN program evaluates trends in the concentrations of arsenic and selenium in fish tissues across a number of species present in the Project area. The data collected in 2025 was the second year of baseline data, which will be used in future years to assess potential changes to fish biodiversity and abundance at Valentine Lake Reservoir and Valentine Lake. The next SLIN survey will be conducted in 2028.

20.1.9 Caribou

The Project Area overlaps woodland caribou range in central Newfoundland, and the NL Department of Fisheries, Forestry and Agriculture (NLDFFA)-Wildlife Division identified the Buchans, Gaff Topsails, Grey River, and La Poile herds as having the potential to interact with the Project Area, LAA, and RAA) (Government of NL 2020). An assessment of Project effects on caribou was provided in the EIS; this assessment considered Project effects on caribou, including change in habitat, change in movement, and change in mortality. As a result, and in consultation with the NLDFFA- Wildlife Division, a Caribou Protection and Environmental Effects Monitoring Plan (CPEEMP) was developed and outlines mitigation measures aimed at reducing the risk of adverse effects on caribou. The CPEEMP also describes follow-up and monitoring activities that will be undertaken to verify EA/EIS effects predictions and mitigation effectiveness.

The CPEEMP is one of the most important management plans at the Project, and personnel work closely with the NLFDDA – Wildlife Division to ensure that the mitigations are effective. As a result of the close collaboration the Project has been able to adapt its operating procedures during the spring and fall migrations to reduce impacts on operations at the Marathon Pit and waste rock stockpile.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

20.1.10 Other Wildlife

The Project is in the Beothuk Lake Subregion of the Central Newfoundland Forest Ecoregion, characterized by a mainly coniferous boreal forest, domed bogs, and a rolling landscape, with elevations in the Project Area ranging from approximately 320 to 430 masl.

Field studies on wildlife in the Project Area and surrounding areas between 2013 and 2018 included a winter wildlife survey (Stantec 2014), American marten hair snagging surveys (Stantec 2018), and an Ecological Land Classification (ELC) (Stantec 2015). Wildlife species confirmed in the Project Area include caribou (*Rangifer tarandus*), moose (*Alces alces*), black bear (*Ursus americanus*), Canada lynx (*Lynx canadensis*), coyote (*Canis latrans*), red fox (*Vulpes vulpes*), American marten, ermine (*Mustela erminea*), muskrat (*Ondatra zibethicus*), river otter (*Lutra canadensis*), southern red-backed vole (*Myodes rutilus*), meadow vole (*Microtus pennsylvanicus*), snowshoe hare (*Lepus americanus*) and American red squirrel (*Tamiasciurus hudsonicus*). Baseline surveys for bats completed in 2021 (Stantec 2022) and 2023 (Stantec 2024) confirmed northern myotis (*Myotis septentrionalis*) and little brown myotis (*Myotis lucifugus*), two resident bat species, in the survey area, as well as one migratory species: silver-haired bat (*Lasionycteris noctivagans*).

Of the species confirmed in the Project Area during the baseline investigations, four species are SAR listed under Schedule 1 of the Canadian *Species at Risk Act* (SARA): American marten (Threatened), little brown myotis (Endangered), northern myotis (Endangered), and caribou (Special Concern)<sup>1</sup>. Silver-haired bat was also recently (May 2023) assessed as Endangered by the COSEWIC but is not yet listed under SARA.

The Project Area and LAA overlap with 6.3 km<sup>2</sup> and 41.8 km<sup>2</sup>, respectively, of provincially proposed critical habitat for American marten.

Valentine has developed the Other Wildlife Follow-up Monitoring Program (OWFMP) to verify predictions and address commitments made in the EIS/EA and as part of the regulatory review process. The document describes follow-up and monitoring activities for the construction, operation, and decommissioning/closure phases of the Project, in accordance with regulatory requirements and Project approvals and authorizations. For the OWFMP, other wildlife, as defined in the EIS, includes large mammals (except caribou), furbearers, and small mammals; separate Plans have been developed specific to avifauna and caribou.

20.1.11 Heritage Resources

**Architectural and Historical Resources**

The *Historic Resources Act* is administered by the Provincial Archaeology Office (PAO) of the Newfoundland and Labrador Department of Tourism, Culture, Arts and Recreation (NLDTCAR). Historic resources are typically broken down into four broad categories: archaeological sites and materials (e.g., remains of campsites and/or stone tools pre-dating 1960); cultural/spiritual sites (e.g., Indigenous and non-Indigenous burial sites and other sacred places); paleontological sites and materials (fossils); and architectural resources (e.g., historical buildings and properties).

There are no known archaeological resources within the Project Area.

<sup>1</sup> A separate monitoring plan has been developed specific to caribou.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

20.2 Environmental Approvals

20.2.1 Environmental Assessment

An EIS was submitted to the IAAC and the EA Division of the NLDECC for the Project in 2020. The Project was released, with conditions, from the provincial and federal EA processes on March 17, 2022, and August 24, 2022, respectively.

Following the original Project approval, the Project has submitted two Notices of Project Change to the original Project, which were subsequently approved by both federal and provincial agencies. These change submissions included the construction, operation, and decommissioning of a communications tower in January 2023 and the addition of the Berry Pit and infrastructure modifications in August 2023.

In June 2025, a further Notice of Change was submitted to IAAC and the NLDECCC – EA Division, proposing project changes to support further engineering refinements and improvements. These changes include the modification and separation of the originally planned high-grade ore (HGO) stockpile, increased fuel storage, expansion of the accommodations camp, and an increase in the process plant footprint to accommodate increased production. The NLDECCC released the Project from further assessment in October 2025, and a decision by the federal Minister is expected in March 2026.

*20.2.2* Permits and Approvals

Various regulatory approvals, permits, and authorizations have been required for Project construction and operations. A comprehensive list of active permits and approvals for the current operation of the Valentine is provided in Table 20-2.

#### Table 20-2: Environmental Approvals, Authorizations, and Permits for the Project

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| **Environmental Permit, Approval or Authorization Activity** | **Issuing / Approval Agency** |
| **Provincial** | **Provincial** |
| Release from Provincial EA Process | NL Department of Environment, Conservation and Climate Change (NLDECCC) – Minister |
| Approval of Environmental Protection Plan | NL Department of Environment, Conservation and Climate Change (NLDECCC) – Minister |
| Certificate of Approval for Construction and Operation (Industrial Processing Works) | NL Department of Environment, Conservation and Climate Change (NLDECCC) – Minister |
| Approval of Environmental Contingency Plan / Emergency Spill Response | NL Department of Environment, Conservation and Climate Change (NLDECCC) – Minister |
| Permit to Construct a Non-Domestic Well | NLDECCC – Water Resources Management Division |
| Permit to Alter a Body of Water | NLDECCC – Water Resources Management Division |
| Culvert Installation | NLDECCC – Water Resources Management Division |
| Fording / Bridge Repair or Replacement | NLDECCC – Water Resources Management Division |
| Water Intake | NLDECCC – Water Resources Management Division |
| Stream Modification or Diversion | NLDECCC – Water Resources Management Division |
| Other Works Within 15 metres (m) of a Body of Water | NLDECCC – Water Resources Management Division |
| Water Use Licenses | NLDECCC – Water Resources Management Division |
| Permit to Construct a Potable Water System | NLDECCC – Water Resources Management Division |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

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| **Environmental Permit, Approval or Authorization Activity** | **Issuing / Approval Agency** |
| Permit to Occupy Crown Land | NL Department of Fisheries, Forestry and Agriculture (NLDFFA) – Lands Division |
| Permit to Control Nuisance Animals | NLDFFA – Wildlife Division |
| Operating Permit to Carry out an Industrial Operation During Forest Fire Season on Crown Land | NLDFFA – Forestry and Agrifoods Agency |
| Permit to Cut Crown Timber | NLDFFA – Forestry and Agrifoods Agency |
| Permit to Burn | NLDFFA – Forestry and Agrifoods Agency |
| Surface and Mining Leases | NL Department of Industry, Energy and Technology – Mineral Development and Mineral Lands Division |
| Development Plan | NL Department of Industry, Energy and Technology – Mineral Development and Mineral Lands Division |
| Rehabilitation and Closure Plan | NL Department of Industry, Energy and Technology – Mineral Development and Mineral Lands Division |
| Financial Assurance Schedule | NL Department of Industry, Energy and Technology – Mineral Development and Mineral Lands Division |
| Mill License | NL Department of Industry, Energy and Technology – Mineral Development and Mineral Lands Division |
| Blasters Safety Certificate | Department of Digital Government and Service NL – Government Service Centre |
| Approval for Storage and Handling of Gasoline and Associated Products | Department of Digital Government and Service NL – Government Service Centre |
| Fuel Storage Tank Registration | Department of Digital Government and Service NL – Government Service Centre |
| Approval for Used Oil Storage Tank System (Oil / Water Separator) | Department of Digital Government and Service NL – Government Service Centre |
| Certificate of Approval for a Waste Management System | Department of Digital Government and Service NL – Government Service Centre |
| Certificate of Approval for a Sewage / Septic System | Department of Digital Government and Service NL – Government Service Centre |
| National Building Code – Fire, Life Safety and Building Safety | Department of Digital Government and Service NL – Government Service Centre |
| Buildings Accessibility Registration and Permit | Department of Digital Government and Service NL – Government Service Centre |
| Food Establishment License | Department of Digital Government and Service NL – Government Service Centre |
| **Federal** | **Federal** |
| Federal Decision Statement | Impact Assessment Agency of Canada (IAAC) |
| Fisheries Act Authorization | Fisheries and Oceans Canada (DFO) |
| License to Store, Manufacture, or Handle Explosives (Magazine License) | Natural Resources Canada (NRCAN) |

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The Project currently has one Notice of Project Change, which is being assessed by IAAC. This project change is currently in the Public Consultation phase of the assessment process. The proposed changes to the Project are listed:

&nbsp;&nbsp;&nbsp;&nbsp;· Ore stockpile changes: Splitting and expanding the high-grade ore stockpile into four separate stockpiles (two high-medium grade and two medium grade)

&nbsp;&nbsp;&nbsp;&nbsp;· Additional water management infrastructure, including perimeter ditches and a sedimentation pond with a final discharge point (BR-FDP-07) into pond L2

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;· Fuel storage expansion: Increasing diesel fuel storage capacity from 450,000 L to 950,000 L with enhanced safety measures such as double-contained tanks and oil-water separators

&nbsp;&nbsp;&nbsp;&nbsp;· Camp expansion: Adding up to 250 rooms for two to four years, expanded parking, and temporary facilities to accommodate additional personnel during overlapping construction and operations phases

&nbsp;&nbsp;&nbsp;&nbsp;· Laydown areas: Expanding laydown areas for materials and equipment storage

&nbsp;&nbsp;&nbsp;&nbsp;· Process plant pad: Expanding the process plant pad to improve access and operational efficiency

The Phase 2 expansion of the Project does not trigger the Designated Project thresholds, which are based on increases in the total area of disturbance and plant throughput, and as such would be assessed by IAAC through the Project Change process.

Licenses and permits required for Phase 2 include the following:

&nbsp;&nbsp;&nbsp;&nbsp;· IAAC Project Change Approval

&nbsp;&nbsp;&nbsp;&nbsp;· Development Plan and Rehabilitation and Closure Plan

&nbsp;&nbsp;&nbsp;&nbsp;· Mill License for an increase to 5.8 Mt/a from 4 Mt/a

&nbsp;&nbsp;&nbsp;&nbsp;· Certificate of Approval from NLDECC

&nbsp;&nbsp;&nbsp;&nbsp;· Fire and Life Safety/National Building Code of Canada for additional structures

20.3 Waste and Waste Management

Valentine utilizes a fully licensed Waste Management Contractor (WMC) and is responsible for the collection of domestic waste, construction waste, hazardous materials, and, at times, sewage removal across all areas of the Project Site, in accordance with all Federal and Provincial waste transportation and disposal regulatory requirements.

&nbsp;&nbsp;&nbsp;&nbsp;· Non-Hazardous

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o To aid in segregation at the source, several waste disposal containers (i.e., roll off bins) are available at various locations and labelled with the appropriate waste stream (e.g., Food Waste, Wood Waste, Metal Waste, Recyclable Containers, etc.).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Waste that may attract animals (i.e., food) is stored in covered, wildlife-proof containers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Solid waste materials are considered, prior to disposal, for reuse, resale, or recycling.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Waste is transported from the site to be recycled, reused, or disposed of in licensed/approved facilities, in accordance with local statutory requirements. Non-reusable and non-recyclable wastes are sent to the provincial waste management facility in Norris Arm, and reuse/recycling materials are sent to the nearest approved management facility for each material type.

&nbsp;&nbsp;&nbsp;&nbsp;· Hazardous

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Approval must be sought from the Environment Superintendent prior to any outdoor storage of hazardous materials. Any outdoor storage will have specific requirements for design, construction, management, monitoring, and maintenance (e.g., in an established, graded designated area with sufficient and appropriate secondary containment or an impervious liner, routine clearing of bermed areas, disposal of accumulated precipitation to an oil-water separator).

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Waste oils, lubricants, and other used oil and glycol are retained in tanks or closed containers with applicable secondary containment at the Mine Maintenance Facility and disposed of in compliance with the *Used Oil and Glycol Control Regulations* by the WMC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Contractors are responsible for proper storage, handling and disposal of their own hazardous waste, in compliance with all applicable legislation and conditions of authorization.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o All necessary precautions are taken to prevent and reduce the spillage, misplacement, or loss of fuels and other hazardous materials. In the event of a spill on land or in the freshwater environment, Valentine has a contingency plan that outlines the proper containment, cleanup, disposal, and reporting requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Any soil contaminated by small leaks of oil or grease from equipment is disposed of according to the *Environmental Protection Act* and disposed of offsite by the WMC at a licensed waste management facility.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Sewage effluent is treated and monitored in accordance with the *NL Environmental Control Water and Sewage Regulations* prior to discharge to the environment. Sludge generated as a by-product of the treatment of sewage is disposed off-site by the WMC.

20.4 Social and Community Considerations

20.4.1 Labour, Economy, and Community Services

Valentine is in a rural region on the island of Newfoundland and not within the boundaries of a municipality. The closest communities are the Town of Millertown, the Town of Buchans, and the Local Service District of Buchans Junction. These nearby communities, along with Badger, Grand Falls-Windsor, and Bishop's Falls, have been shaped primarily by natural resource-based industries, including mining, forestry, and hydroelectric developments.

Exploration in the Buchans area began in the early part of the 20th century, and production of base metals (e.g., copper, zinc, and lead) began in 1926. A base metal mine established near Buchans contributed substantially to the provincial economy until closure in 1984 (Wardle 2004). The region saw an economic resurgence with continued exploration and the discovery of the Duck Pond base metal deposit in 1987. Duck Pond Operations began commercial production in 2007, employing more than 270 people in the local Buchans-Millertown region (Canadian Mining Journal Editor 2013). Duck Pond, the only recently active mine in the area, ceased operation in July 2015 (Teck 2016). Some limited employment and procurement opportunities associated with the Duck Pond operation remain through the three-phase decommissioning process. There are currently no operating mines in the region, although mineral exploration has continued, and there are many mineral licenses surrounding the project area.

Forestry and logging were important economic drivers in central Newfoundland from the early 20th century until the early 21st century. The industry was primarily in support of the pulp and paper industry, which was greatly reduced following the closure of Abitibi-Consolidated Inc.'s mill in Grand Falls-Windsor in 2009.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

In 2016, the main industries providing employment to the region's residents were health care and social assistance, retail trade, and construction (Statistics Canada 2017).

As part of the NL Benefits Agreement with the province of Newfoundland and Labrador, Valentine has implemented a hiring strategy focused on hiring at the local and regional levels. Valentine will increase employment within the region, supporting population growth and directly benefiting the economy.

Community Cooperation Agreements (CCAs) have been established with the local communities to form a mechanism to provide benefits for both Valentine and the community where mutually advantageous opportunities exist.

20.4.2 Indigenous Engagement

Valentine consults regularly with the two Indigenous communities identified through the EA processes:

&nbsp;&nbsp;&nbsp;&nbsp;· Miawpukek First Nation (MFN)

&nbsp;&nbsp;&nbsp;&nbsp;· Qalipu First Nation (QFN)

Consultation with Indigenous groups and stakeholders (e.g., community members, agencies, interested parties) is key to the success of the Project. As such, Valentine has undertaken active participation through meetings, public open houses, attendance at Annual General Meetings, and other events.

In addition, socio-economic agreements (SEAs) have been implemented with both Indigenous groups, and the Project's Indigenous Relations team meets regularly with local Indigenous communities to discuss employment, training, and procurement opportunities. Through the SEAs, Valentine provides funding and support for several initiatives, including cultural investment, scholarship opportunities, and research funding.

In addition, joint Environmental Sub-Committees provide a forum for timely review, consultation, and comment on Project Approvals, FMPs, and other environmental areas or concerns as required. An Environmental Technician from QFN is actively employed at the Project, and an Environmental Technician from MFN was employed at the Project from June 2025 to December 2025. Valentine is currently trying to fill this MFN vacancy.

20.5 Closure, Decommissioning, and Reclamation

A Rehabilitation and Closure Plan (RCP) for the original 2-Pit Project (i.e., Marathon Pit and the Leprechaun Pit) was submitted to the Newfoundland and Labrador Department of Industry, Energy and Technology (NLDIET) on April 14, 2023. Prior to final approval of the initial RCP, the Valentine RCP was updated to include the development of a third deposit resource (i.e., Berry Pit). An updated RCP, including the addition of Berry Pit, was submitted to the NLDIET on October 29, 2024, and Valentine subsequently received approval on November 26, 2024.

The overall objective of the RCP is to ensure physical and chemical stability of the site, and the RCP includes details on closure, including progressive rehabilitation, rehabilitation measures, monitoring, and expected post-closure site conditions. The RCP and associated closure cost estimate assume closure activities following the end of the 18-year mine life.

Topsoil will be salvaged as required from all disturbed areas and stockpiled in designated areas. The topsoil thickness of 0.30 m is estimated to determine expected excavation volumes. Overburden from the pit areas will also be salvaged and stockpiled. These materials will be utilized during progressive reclamation and at final closure.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Closure rehabilitation activities will be carried out at the Project site once it is no longer economical to mine or once resources have been exhausted. In general, the closure activities that will be completed for the site include, though are not limited to, the following, and will be conducted in accordance with applicable regulations and legislation in effect at the actual time of closure:

&nbsp;&nbsp;&nbsp;&nbsp;· Removing hazardous chemicals, reagents, and similar materials for resale or disposal at an approved facility as per provincial and federal regulations.

&nbsp;&nbsp;&nbsp;&nbsp;· Disconnecting, draining, cleaning, disassembling and, where feasible, selling equipment for re-use to a licensed scrap dealer; if this is not achievable, equipment will be removed from site for disposal.

&nbsp;&nbsp;&nbsp;&nbsp;· Dismantling and removing site buildings and surface infrastructure for re-use, disposal or recycling at approved facilities.

&nbsp;&nbsp;&nbsp;&nbsp;· Demolishing concrete foundations to a minimum of 0.3 m below the surface grade and covering areas with natural overburden materials to promote re-vegetation; demolished concrete will be used as fill material for re-grading or removed from site for disposal in an appropriate facility.

&nbsp;&nbsp;&nbsp;&nbsp;· Removing and rehabilitating fuel and explosive storage and dispensing facilities; this will include an Environmental Site Assessment (ESA).

&nbsp;&nbsp;&nbsp;&nbsp;· Breaching water management ponds to allow drainage to the surrounding areas for natural filtration – prior to release to the environment, water quality testing will be completed on the pond waters; these features will subsequently be graded and contoured to re-establish drainage patterns and revegetated as required.

&nbsp;&nbsp;&nbsp;&nbsp;· Decommissioning any wells on site (including groundwater monitoring wells and potable drinking water wells), in compliance with the Guidelines for Sealing Groundwater Wells (Government of NL 1997). This will not take place until after any ESA and subsequent remediation work is completed.

&nbsp;&nbsp;&nbsp;&nbsp;· Re-establishing pre-mining site drainage patterns to the extent feasible.

&nbsp;&nbsp;&nbsp;&nbsp;· Grading and/or scarifying disturbed areas, including roads, covering these with overburden and organic materials, where required, and seeding to promote natural revegetation.

Upon closure, in-pit equipment will be removed, and the open pit(s) will be allowed to fill with surface water runoff, precipitation, and groundwater seepage. In addition to natural infill, the dewatering pumps and infrastructure will be utilized to draw water from Valentine Lake and the Victoria Lake Reservoir to provide accelerated flooding of the Leprechaun and Marathon pits, reducing the overall flooding time to approximately 9.9 years. Berms and signage will be constructed along the crest and across any access roads or ramps, barricading access to the open pit(s).

Waste Rock Storage Facilities will be sloped and benched in accordance with the closure design as they are developed, creating overall safe slopes for final closure of three horizontal to one vertical (3H:1V), incorporating interim benching. The WRSFs will also be progressively rehabilitated by placing overburden/organic materials on slope faces and organics on bench and plateau surfaces, followed by subsequent seeding. The ditching and sedimentation ponds constructed to manage the runoff from these piles during operations will be left in place following closure until the runoff water quality is suitable for direct release, at which point the ditching and pond infrastructure will be removed and regraded to return drainage patterns as close to natural as possible.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Once the TMF reaches maximum capacity, active tailings deposition will commence in the mined-out Berry open pit. The TMF will continue to be used for storage of water for reclaim to the mill, while the exposed tailings surface and dams can be progressively closed. Water will continue to be treated before release until water quality monitoring demonstrates that water collected in the pond is acceptable for direct release to the environment. Once water quality objectives are met, the TMF pond will be removed by lowering the spillway elevation. At that time, the pump barge will be decommissioned. The pond will then be completely drained and infilled with regraded material from the tailings surface and with material excavated from lowering the dam. A drainage swale will allow natural drainage from the west side of the TMF to the east side, where the swale will connect to the ultimate spillway for runoff discharge, and the remaining area will be covered with overburden, topsoil, and revegetated.

The SAGR unit rock beds, piping infrastructure, and blower systems will be removed, and the disturbed footprint will be rehabilitated. The southern Berry Pit will be flooded and provided with a permanent passive discharge channel.

During the closure phase, contact seepage from the WRSFs and the TMF that is not expected to be adequately treated via natural attenuation at local receivers to background or Canadian Council of Ministers of the Environment (CCME) CWQG-FAL quality is planned to be treated by passive treatment systems. Two options identified as feasible passive treatment options to manage site water post closure are conversion of the WRSF and TMF seepage collection ditches into anerobic permeable reactive barriers (PRBs) and conversion of the WRSF and TMF seepage collection ditches into French drains with an anaerobic PRB to passively intercept and convey site water to anaerobic vertical flow engineered wetlands. The Project will continue to evaluate these options through the Operations Phase as more data becomes available.

The schedule for the post-closure monitoring program will be developed prior to final mine closure and will be integrated with the operational monitoring program and adapted for the requirements of the rehabilitation and post-closure periods. Based on the current mine development and operational plans and the availability of progressive rehabilitation work for monitoring over the LOM prior to full closure, it is anticipated that a five- to ten-year post closure monitoring program will be sufficient to determine the effectiveness of the rehabilitation program, beginning at varying times depending on the Project component.

20.5.1 Financial Assurance

As referenced in the *Mining Act*, the lessee shall provide financial assurance as part of the rehabilitation and Closure Plan. The full closure cost of the Project is estimated at US$94 (C$126 million) and includes third-party engineering and project management costs. Estimated closure costs do not include equipment resale or scrap values and assume that all material will be disposed of as waste. Some equipment may have residual resale value; leading up to mine closure and decommissioning, Valentine will evaluate options to identify the potential for recycling and reuse of materials resulting from demolition of site infrastructure. Valentine is currently providing the required financial assurance in scheduled annual payments based on the stages of mine development that would require rehabilitation.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

21.0 Capital and Operating Costs

Commercial production at the Valentine Gold Mine was achieved on November 18, 2025. Capital expenditures incurred prior to December 31, 2025, are considered sunk costs and are excluded from the economic evaluation. Remaining life-of-mine (LoM) capital costs relate primarily to the Phase 2 process plant expansion, supporting infrastructure, sustaining capital required to maintain mining and processing equipment throughout the operating life, and closure and reclamation activities.

The capital and operating cost estimates described in this section were used as the basis for the economic analysis supporting the Mineral Reserve estimate presented in Section 15 of this Technical Report. The capital and operating costs presented in this section serve as the basis for the financial model described in Section 22. Minor adjustments related to the timing of expenditures and tax treatment are incorporated within the financial model.

Unless otherwise stated, all costs are presented in constant Q1 2026 US dollars.

The cost estimates supporting the development of Mineral Reserves were prepared using current operating experience at Valentine, vendor budgetary quotations, engineering quantities, budget forecasts, historical construction costs from the initial project build, and benchmarks from comparable operations. In accordance with AACE International Recommended Practice 18R-97 (AACEi), the capital and operating cost estimates are considered to be generally consistent with a Class 4 estimate, with an expected accuracy range of approximately -25% to +25%, which is appropriate for a pre-feasibility study (PFS) level evaluation under NI 43-101.

21.1 Capital Cost Summary

Life-of-mine capital costs for the Project are estimated at approximately $727 million, including $94 million for reclamation and closure, as summarized in Table 21-1.

#### Table 21-1: Life-of-Mine Capital Cost Estimate

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| | |
|:---|:---|
| **Description** | **LOM Total <br> (US$ million)** |
| Growth and Phase 2 Combined Capital | 397 |
| Owners / Indirects / Contingency (Growth Capital) | 109 |
| Sustaining Capital | 126 |
| Reclamation / Closure Capital | 94 |
| **Total** | **727** |

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Growth capital expenditures commence in 2026 and are primarily associated with the Phase 2 process plant expansion and related infrastructure upgrades.

The Phase 2 Initial capital program totals approximately US$414 million and is scheduled between 2026 and 2028, with final commissioning activities occurring in early 2029. The difference between the total Phase 2 capital and the scheduled plant and infrastructure expenditures reflects mining fleet growth capital associated with the expansion, as shown in Table 21-2.

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| 21-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 21-2: Phase 2 Capital Costs

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| | |
|:---|:---|
| **Capital Category** | **Cost<br> (US$ millions)** |
| Mining Growth Capital (Phase 2 Expansion) | 64 |
| Process Plant Expansion (Phase 2) | 133 |
| Infrastructure | 71 |
| Contingency and Owner's Reserve | 73 |
| EPCM / Owners / Indirect Cost - Phase 2 Only | 73 |
| **Total Phase 2 Initial Capital** | **414** |

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The process plant expansion represents the largest component of the Phase 2 initial capital program, accounting for approximately 50 percent of total growth capital. Infrastructure development represents approximately 21 percent of the total and includes balance-of-plant facilities and electrical infrastructure upgrades associated with the Star Lake substation and Newfoundland and Labrador Hydro electrical supply.

21.1.1 Estimate Accuracy

The Phase 2 Expansion initial capital cost estimate is classified as an AACE International Class 4 estimate, appropriate for a pre-feasibility study (PFS) level of engineering definition. The expected accuracy range for this estimate is approximately -25% to +25%.

This estimate classification is consistent with the requirements of NI 43-101 for cost estimates supporting Mineral Reserve economic analysis.

21.1.2 Basis of Estimate

The Phase 2 Expansion capital estimate was developed using inputs from Equinox, DRA Global, Moose Mountain, and other third-party contributors. Cost inputs were derived from the following:

&nbsp;&nbsp;&nbsp;&nbsp;· Vendor budget quotations

&nbsp;&nbsp;&nbsp;&nbsp;· Engineering material take-offs

&nbsp;&nbsp;&nbsp;&nbsp;· Historical construction costs from the existing process plant

&nbsp;&nbsp;&nbsp;&nbsp;· Industry benchmarks and internal cost databases

The estimate assumes execution using an Owner's Integrated Management Team (OMT) approach, consisting of the owner's team supported by specialist engineering consultants. The same estimating methodology was applied to sustaining capital expenditures. The capital cost estimate excludes government taxes and duties, which are incorporated separately in the financial model where applicable.

Mine capital costs were developed from purchase contracts, vendor budgetary quotations, and operating data from comparable Canadian open-pit mining operations.

Costs associated with the expansion of the mining fleet required for the Phase 2 Expansion are classified as growth capital, while equipment replacement expenditures during operations are treated as sustaining capital.

Capitalized mine development costs include the following:

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

· Clearing and grubbing

&nbsp;&nbsp;&nbsp;&nbsp;· Topsoil removal and stockpiling

&nbsp;&nbsp;&nbsp;&nbsp;· Haul road construction

&nbsp;&nbsp;&nbsp;&nbsp;· Production of crushed rock for construction and operations

&nbsp;&nbsp;&nbsp;&nbsp;· Installation of pit dewatering infrastructure

Additional capitalized items include the following:

&nbsp;&nbsp;&nbsp;&nbsp;· Pit electrification infrastructure

&nbsp;&nbsp;&nbsp;&nbsp;· Fleet GPS navigation systems

&nbsp;&nbsp;&nbsp;&nbsp;· Wireless communications networks

&nbsp;&nbsp;&nbsp;&nbsp;· Fleet management and dispatch systems

&nbsp;&nbsp;&nbsp;&nbsp;· Survey equipment and mine planning software

&nbsp;&nbsp;&nbsp;&nbsp;· Geotechnical instrumentation

&nbsp;&nbsp;&nbsp;&nbsp;· Mine communications systems

&nbsp;&nbsp;&nbsp;&nbsp;· Maintenance tooling and safety equipment

21.1.3 Currency

All capital and operating costs are presented in Q1 2026 US dollars. An exchange rate of US$1.00 = C$1.34 was applied in the preparation of the estimate. No escalation beyond the Q1 2026 base date has been included.

21.2 Process Plant Phase 2 Initial Capital Schedule

The Phase 2 (2026–2028) initial capital cost schedule for the process plant, and infrastructure, is presented in Table 21-3.

#### Table 21-3: Process Plant and Infrastructure Phase 2 Initial Capital Schedule

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| | | | | |
|:---|:---|:---|:---|:---|
| **Area** | **Total<br> (US$ million)** | **2026<br> (US$ million)** | **2027<br> (US$ million)** | **2028<br> (US$ million)** |
| Process Plant <br> (incl. Contingency) | 247.4 | 43.7 | 108.2 | 95.5 |
| Infrastructure <br> (incl. Contingency) | 85.2 | 28.4 | 43.8 | 13.0 |
| Owner's Reserve | 17.2 | - | - | 17.2 |
| **Total Phase 2 Capital (Incl. Contingency)** | **349.8** | **72.1** | **152** | **125.7** |

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The annual capital distribution reflects engineering completion and procurement activities in 2026, peak construction and equipment installation in 2027 and 2028.

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| 21-3 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

21.3 Process Plant Phase 2 Initial Capital

The process plant expansion capital totals approximately US$247 million and includes construction materials, major process equipment, and project support costs such as construction management and engineering, and contingency. A breakdown of the process plant Phase 2 capital cost is shown in Table 21-4.

#### Table 21-4: Process Plant Phase 2 Initial Capital Breakdown

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| | |
|:---|:---|
| &nbsp;&nbsp;**Category** | &nbsp;&nbsp;**Cost<br> US$ million** |
| &nbsp;&nbsp;Construction and Materials | &nbsp;&nbsp;81 |
| &nbsp;&nbsp;Major Equipment | &nbsp;&nbsp;51 |
| &nbsp;&nbsp;Support (Construction Management, Engineering, Spares) | &nbsp;&nbsp;73 |
| &nbsp;&nbsp;Contingency | &nbsp;&nbsp;42 |
| &nbsp;&nbsp;**Total Process Plant (Incl. Contingency)** | &nbsp;&nbsp;**247** |

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Construction and material costs include civil works, structural steel, mechanical installation, electrical systems, piping, instrumentation, and related plant construction activities. Major equipment costs represent the procurement and delivery of mechanical and electrical equipment required for the process plant expansion.

21.4 Infrastructure Initial Capital

Infrastructure initial capital totals approximately US$85.1 million and includes balance-of-plant facilities and electrical power infrastructure upgrades required to support the expanded processing capacity. Table 21-5 presents a breakdown of the major components of the Phase 2 infrastructure capital cost.

#### Table 21-5: Infrastructure Phase 2 Initial Capital Breakdown

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| | |
|:---|:---|
| **Infrastructure Component** | **Cost<br> US$ million** |
| Balance of Plant Facilities (incl. Contingency) | 76 |
| Star Lake Substation and Electrical Upgrades (incl. Contingency) | 9 |
| **Total Infrastructure (incl. Contingency)** | **85** |

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Balance-of-plant facilities include camp construction, fuel storage facilities, maintenance shop infrastructure, and other site support facilities. Electrical infrastructure costs are associated primarily with upgrades to the Star Lake substation and the Newfoundland and Labrador Hydro power supply.

21.5 Process Plant Contingency and Owner's Reserve

A contingency and management reserve allowance of approximately US$73 million has been applied to the Phase 2 capital estimate to account for uncertainties within the defined scope. The contingency is consistent with the expected accuracy range of an AACE Class 4 capital estimate.

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| 21-4 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

An overall contingency of approximately 20% has been applied to direct process plant capital costs, consistent with an AACE Class 4 estimate. Contingency is intended to address uncertainties within the defined project scope and does not include allowances for:

&nbsp;&nbsp;&nbsp;&nbsp;· Scope changes

&nbsp;&nbsp;&nbsp;&nbsp;· Escalation

&nbsp;&nbsp;&nbsp;&nbsp;· Exchange rate fluctuations

21.6 Reclamation and Closure

The closure cost estimate is based on the current Development, Rehabilitation and Closure Plan and includes activities associated with decommissioning and reclamation of the mine, process plant, Tailings Management Facility, water management infrastructure, and other site facilities. Major closure cost components include demolition of the process plant and major infrastructure, regrading and reclamation of disturbed areas, closure of stockpiles and mine facilities, TMF closure works, revegetation, and post-closure monitoring and maintenance. The economic model also includes $94 million for mine reclamation and closure, based on the updated retirement obligation (ARO) estimate and the LOM reclamation schedule as of January 2026. This total includes approximately $6 million allocated for demolition of the process plant and associated infrastructure.

Closure and reclamation expenditures are distributed through the life of the mine and into the post-operating period in accordance with the planned sequence of site decommissioning and reclamation activities. In the Project cash flow model, closure costs continue beyond the operating mine life through 2041.

21.7 Operating Cost

The average LOM site operating cost is estimated at approximately US$72.21 per tonne milled, equivalent to approximately US$1,444 per ounce of gold produced. Including refining, freight, and royalties, the average LOM total operating cost is estimated at approximately US$78.99 per tonne milled. On a gold sales basis, average LOM total cash cost is estimated at approximately US$1,580 per ounce, and average LOM all-in sustaining cost (AISC) is estimated at approximately US$1,665 per ounce. A summary of the life of mine unit costs is presented in Table 21-6.

#### Table 21-6: LOM Average Unit Operating Costs

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| | |
|:---|:---|
| **Metric** | **Value** |
| Open Pit Mining | $2.89/t mined |
| Mining (Ore Basis) | $38.07/t milled |
| Processing | $20.55/t milled |
| General & Administrative | $13.59/t milled |
| **Average Site Operating Cost** | **$72.21/t milled** |
| Total Operating Cost | $78.99/t milled |
| Total Cash Cost | $1,580/oz Au |
| All-in Sustaining Cost (AISC) | $1,665/oz Au |

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| 21-5 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Mining costs were estimated using historical operational data, equipment productivity models, and budget forecasts.

Hourly equipment costs include labour, fuel, lubricants, maintenance parts, tires, and ground-engaging tools. The mine operates 365 days per year, 24 hours per day, using two 12-hour shifts per day on a one-week-on / one-week-off drive-in/drive-out rotation. An allowance of 12 non-production days per year is incorporated into the mine schedule to account for adverse weather and holidays. A diesel price of US$1.01/L was used in the estimate, based on an Equinox forecast.

Processing costs include the following:

&nbsp;&nbsp;&nbsp;&nbsp;· workforce

&nbsp;&nbsp;&nbsp;&nbsp;· electrical power

&nbsp;&nbsp;&nbsp;&nbsp;· grinding media

&nbsp;&nbsp;&nbsp;&nbsp;· reagents

&nbsp;&nbsp;&nbsp;&nbsp;· maintenance materials

&nbsp;&nbsp;&nbsp;&nbsp;· laboratory operations

General and administrative costs were estimated using historical operating budgets and projected staffing levels.

21.8 Operating Cost Estimate Methodology

Operating costs were estimated using operating data from the Valentine Gold Mine, equipment productivity estimates derived from the mine production schedule, vendor cost information, and benchmarking against similar Canadian open pit gold mining operations.

Operating costs include mining, processing, general and administrative costs, refining and freight charges, and royalty obligations. These costs were incorporated into the life-of-mine financial model used to support the economic analysis and Mineral Reserve estimate. Unless otherwise stated, all capital and operating costs are expressed in Q1 2026 constant US dollars (US$), and unit costs are presented on a metric tonne basis.

21.9 Workforce

The Valentine Gold Mine workforce is organized into three primary operating groups:

&nbsp;&nbsp;&nbsp;&nbsp;· Mining operations

&nbsp;&nbsp;&nbsp;&nbsp;· Process plant operations

&nbsp;&nbsp;&nbsp;&nbsp;· General and administrative services

The current operations workforce by department is presented in Table 21-7; approximately 90% of the workforce resides in Newfoundland and Labrador.

#### Table 21-7: Operations Workforce

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| | |
|:---|:---|
| **Department** | **Employees** |
| Mine Operations | 198 |
| Mine Maintenance | 89 |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

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| | |
|:---|:---|
| **Department** | **Employees** |
| Process Plant | 48 |
| Support Services | 104 |
| Technical Services | 15 |
| Geology | 12 |
| **Total** | **466** |

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The peak workforce, including construction personnel associated with the Phase 2 expansion, is estimated to reach approximately 955 employees.

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| 21-7 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

22.0 Economic Analysis

The economic analysis contained in this Technical Report is based on the Valentine Mine Mineral Reserves as of January 1, 2026, economic assumptions, and capital and operating costs provided by Equinox finance and technical teams and reviewed by SLR. All costs are expressed in 2025 US dollars (based on an exchange rate of CAD 1.34: USD 1), and unit costs are based on metric tonnes. Unless otherwise indicated, all costs in this section are expressed in US Dollars without allowance for escalation, currency fluctuation, or interest.

The economic analysis for the Project is based on a gold price of $2,100 per ounce, which is consistent with the price assumption used for the estimation of Mineral Reserves in accordance with NI 43-101 guidelines. This price serves as the basis for the mine plan and is the primary case used to demonstrate economic viability.

At a gold price of $2,100 per ounce, the Project generates an after-tax net present value of approximately $446 million, confirming that the Mineral Reserves are economically supportable under conservative long-term pricing assumptions.

Additional cash flow analyses have been prepared to evaluate the Project's sensitivity to higher gold prices. These include a reference case using $4,500 per ounce (the Reference Case), reflecting below-market conditions at the time of analysis, and an upside sensitivity case of $6,300 per ounce. At $4,500 per ounce, the Project generates materially higher economic returns, and at $6,300 per ounce, the Project generates a pre-tax net present value of approximately $5.1 billion. These results indicate that the Project remains economically viable under the Mineral Reserve price assumption, and it is sensitive to increases in the gold price

SLR has generated an after-tax cash flow for the reference case using the LOM production schedule and capital and operating cost estimates as presented in Section 16.0 and 21.0, respectively, which is summarized in Table 22-3. A summary of the key criteria is provided below.

22.1 Economic Criteria – Reference Case

22.1.1 Revenue

&nbsp;&nbsp;&nbsp;&nbsp;· Mine life: 12 years, from 2026 to 2037.

&nbsp;&nbsp;&nbsp;&nbsp;· Life of Mine production plan as summarized in section 16.7.

&nbsp;&nbsp;&nbsp;&nbsp;· 5 Mt/a ore milled (approximately 11,890 tpd) at an average mill grade of 1.66 g/t Au (ROM, crushed, and stockpile mine plan).

&nbsp;&nbsp;&nbsp;&nbsp;· Mine life averages 215,000 ounces per year of gold recovered from the mine plan, with LOM milled ore recovery averaging 94%. Total 2.58 Moz recovered over LOM operation (2026 through 2037).

&nbsp;&nbsp;&nbsp;&nbsp;· The summary of the physicals in the financial model is listed in Table 22-1.

&nbsp;&nbsp;&nbsp;&nbsp;· Gold price used averages US$4,500 per ounce of gold between 2026 and 2037.

&nbsp;&nbsp;&nbsp;&nbsp;· Gold at refinery 99.5% payable.

&nbsp;&nbsp;&nbsp;&nbsp;· Net Smelter Return includes doré refining, transport, and insurance costs.

&nbsp;&nbsp;&nbsp;&nbsp;· Revenue is recognized at the time of gold production.

&nbsp;&nbsp;&nbsp;&nbsp;· Non-cash inventory adjustments are not included in the SLR cash flow model.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 22-1: Valentine Production Physicals Summary

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| | |
|:---|:---|
| **Physicals** | **Value** |
| Total Ore Milled (kt) | 51490 |
| Max Process Rate (tpd) | 11890 |
| Au Head Grade (g/t) | 1.66 |
| Contained Au (koz) | 2748 |
| Average Recovery, Au | 94% |
| Recovered Au (koz) | 2575 |
| Avg Annual Au Prod - LOM (koz / yr) | 215 |

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The model revenue forecast is shown in Figure 22-1 below:

#### Figure 22-1: Revenue Forecast
22.1.2 Costs

&nbsp;&nbsp;&nbsp;&nbsp;· Growth and development capital costs total US$505 million

&nbsp;&nbsp;&nbsp;&nbsp;· Mine life sustaining capital totals US$126 million

&nbsp;&nbsp;&nbsp;&nbsp;· Final reclamation costs total US$94 million

&nbsp;&nbsp;&nbsp;&nbsp;· Average LOM operating cost is US$72.21 per tonne milled

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Open pit operating costs of US$2.89 per tonne mined (US$38.07 per tonne milled)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Processing operating costs of US$20.55 per tonne milled

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Site services and general and administrative (G&A) costs of US$13.59 per tonne milled

&nbsp;&nbsp;&nbsp;&nbsp;· As the planned mining rate exceeds the planned milling rate in Phase 1, the mine costs of the inventory were considered in the model, and mining costs are expensed when the gold is recovered.

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| 22-2 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

The operating cost forecast is shown in Figure 22-2 below.

#### Figure 22-2: Operating Cost Forecast
22.1.3 Taxation and Royalties

22.1.3.1 Federal and Provincial Tax Summary

The federal and provincial income taxes were considered in the financial model based on input from the Equinox tax team and are summarized in Table 22-2.

#### Table 22-2: Valentine Federal and Provincial Tax Summary

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| | |
|:---|:---|
| **Tax** | **LOM Total (US$ million)** |
| Newfoundland Mining Tax | 933 |
| Income Tax | 1511 |
| Royalties | 346 |
| **Total Taxes and Royalties** | **2790** |

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22.1.3.2 Royalties

Valentine is subject to a variety of NSR royalty payments, payable to various parties under the terms of the leases, as described in Section 4.0. Per Equinox's finance team's analysis, a weighted-average rate of 3% was used for cash flow modelling.

22.2 Cash Flow Analysis – Reference Case

SLR has reviewed the Equinox's Valentine LOM cash flow model, considering gold as the final saleable product, and has prepared its own unlevered after-tax LOM cash flow model based on the information contained in this Technical Report to confirm the physical and economic parameters of the Property.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

The Mine, as currently designed, has variations in the mining and processing amounts over its planned 12-year life. These variations are shown in Figure 22-3 through Figure 22-5.

#### Figure 22-3: Mine Production Profile by Material Movement

#### Figure 22-4: Gold Production Profile

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| 22-4 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 22-5: Annual Processing Gold Production and Head Grade Profile
The economic analysis prepared by SLR assumes a base discount date of January 1, 2026.

The base discount rate assumed in this economic analysis is 5%, in line with industry-standard practice for operating mines in the US. Discounted present values of annual cash flows are summed to arrive at the Mine's net present value (NPV).

To support the disclosure of Mineral Reserves, the economic analysis demonstrates that Valentine's Mineral Reserves are economically viable at a US$4,500/oz gold price. On a pre-tax basis, the undiscounted cash flow totals US$6.8 billion over the mine life. The pre-tax net NPV at a 5% discount rate is US$4.9 billion. On an after-tax basis, the undiscounted cash flow totals US$4.3 billion over the mine life. The after-tax NPV at a 5% discount rate is US$3.1 billion. The internal rate of return (IRR) is not applicable, as the Mine is an operating mine and does not have any initial capital to recover.

The forecast project revenues, costs, and cash flows by year are summarized in Figure 22-6.

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| 22-5 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 22-6: Revenue, Cost and Cash Flow Forecast – Reference Case
The after-tax free cash flow profile and gold payable metal per year are presented in Figure 22-7.

#### Figure 22-7: Project After-Tax Metrics Summary – Reference Case
Figure 22-8 illustrates the cash flow, cumulative after-tax cash flow, and cumulative discounted after-tax cash flow forecast:

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| 22-6 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 22-8: Cash Flow Summary – Reference Case
Table 22-3 summarizes the LOM total, average annual, per tonne and per ounce cash flow metrics for the Valentine Gold Mine.

#### Table 22-3: Total Life of Mine Metrics – Reference Case

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Item** | **LOM Total <br> (US$ million)** | **Avg. Annual US$M/y** | **Avg. <br> US$/t milled** | **Avg. <br> US$/t mined** | **Avg. US$/oz Au Recovered** |
| **Total Gross Revenue** | **11528** | **961** | **223.88** | **16.94** | **4478** |
| Mining Cost | 1960 | 163 | 38.07 | 2.88 | 761 |
| Process Cost | 1058 | 88 | 20.55 | 1.55 | 411 |
| G & A Cost | 700 | 58 | 13.59 | 1.03 | 272 |
| Refining/Freight | 4 | 0.3 | 0.07 | 0.01 | 1 |
| Royalties | 346 | 29 | 6.71 | 0.51 | 134 |
| **Total Cash Costs** | **4067** | **339** | **78.99** | **5.98** | **1580** |
| **Operating Margin (EBITDA<sup>1</sup>)** | **7460** | **622** | **144.89** | **10.96** | **2898** |
| Cash Taxes Payable | 2462 | 205 | 47.82 | 3.62 | 956 |
| Working Capital | 39 | 3 | 0.75 | 0.06 | 15 |
| **Operating Cash Flow** | **5037** | **420** | **97.82** | **7.40** | **1956** |
| Development Capital | 507 | 42 | 9.84 | 0.74 | 197 |
| Sustaining Capital | 126 | 11 | 2.45 | 0.19 | 49 |
| Closure/Reclamation Capital | 94 | 8 | 1.82 | 0.14 | 36 |
| **Total Capital** | **727** | **61** | **14.12** | **1.07** | **282** |
| Pre-tax Free Cash Flow | 6772 | 564 | 131.52 | 9.95 | 2630 |
| Pre-tax NPV<sub>5%</sub> | 4894 | 408 | 95.06 | 7.19 | 1901 |
| **After-tax Free Cash Flow** | **4310** | **359** | **83.71** | **6.33** | **1674** |
| **After-tax NPV<sub>5%</sub>** | **3108** | **259** | **60.37** | **4.57** | **1207** |
| <sup>1</sup> EBITDA earnings before income tax, depreciation and amortization | <sup>1</sup> EBITDA earnings before income tax, depreciation and amortization | <sup>1</sup> EBITDA earnings before income tax, depreciation and amortization | <sup>1</sup> EBITDA earnings before income tax, depreciation and amortization | <sup>1</sup> EBITDA earnings before income tax, depreciation and amortization | <sup>1</sup> EBITDA earnings before income tax, depreciation and amortization |

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| 22-7 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

The average annual gold sales over the 12 years of operation are 215 koz at an average all-in sustaining cost (AISC) of US$1,665/oz Au. Table 22-4 shows the AISC build-up.

#### Table 22-4: All-in Sustaining Costs Composition

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| | | |
|:---|:---|:---|
| **Item** | **Total LOM <br> (US$ million)** | **Unit Cost<br> (US$/oz Au)** |
| Mining | 1960 | 761 |
| Process | 1058 | 411 |
| Site G&A | 700 | 272 |
| **Subtotal Site Costs** | **3718** | **1444** |
| Refining/Freight | 4 | 1 |
| Mining Royalties | 346 | 134 |
| **Total Cash Costs** | **4067** | **1580** |
| Sustaining Capital Cost | 126 | 49 |
| Closure/Reclamation Costs | 94 | 36 |
| **Total Sustaining Costs** | **220** | **86** |
| **Total All-in Sustaining Costs** | **4287** | **1665** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note: Closure/Reclamation costs for AISC are based on Closure/Reclamation Cash Spend.<br> Numbers may not add due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note: Closure/Reclamation costs for AISC are based on Closure/Reclamation Cash Spend.<br> Numbers may not add due to rounding. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Note: Closure/Reclamation costs for AISC are based on Closure/Reclamation Cash Spend.<br> Numbers may not add due to rounding. |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.3 Sensitivity Analysis

Potential economic risks were examined by running cash flow sensitivities to changes in the following variables

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Gold price

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Gold recovery

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Head grade

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Operating costs

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Capital costs

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Discount rate

After-tax NPV sensitivities relative to the Reference Case have been calculated for -40% to +40% for changes to head grade, recovery (to +5%), gold price, exchange rate (CAD:USD), operating costs and capital costs, as shown in Table 22-5 and Figure 22-9.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Table 22-5: After-Tax Sensitivity Analyses

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| | | |
|:---|:---|:---|
| **Factor Change** | **Head Grade (g/t)** | **NPV at 5% (US$ million)** |
| 0.60 | 1.00 | 1152 |
| 0.80 | 1.33 | 2130 |
| 1.00 | 1.66 | 3108 |
| 1.20 | 1.99 | 4086 |
| 1.40 | 2.32 | 5064 |
| **Factor Change** | **Recovery (%)** | **NPV at 5% (US$ million)** |
| 0.60 | 56% | 1152 |
| 0.80 | 75% | 2130 |
| 1.00 | 94% | 3108 |
| 1.03 | 97% | 3255 |
| 1.05 | 99% | 3353 |
| **Factor Change** | **Au Price (US$/oz)** | **NPV at 5% (US$ million)** |
| 0.47 | $2100 | &nbsp;&nbsp;&nbsp;&nbsp;446 |
| 0.80 | $3600 | 2130 |
| 1.00 | $4500 | 3108 |
| 1.20 | $5400 | 4086 |
| 1.40 | $6300 | 5064 |
| **Factor Change** | **Exchange Rate (CAD:US$)** | **NPV at 5% (US$ million)** |
| 0.60 | 0.80 | 2471 |
| 0.80 | 1.07 | 2869 |
| 1.00 | 1.34 | 3108 |
| 1.20 | 1.61 | 3268 |
| 1.40 | 1.88 | 3381 |
| **Factor Change** | **Operating Cost (US$ million)** | **NPV at 5% (US$ million)** |
| 0.60 | $2231 | 3754 |
| 0.80 | $2974 | 3431 |
| 1.00 | $3718 | 3108 |
| 1.20 | $4462 | 2785 |
| 1.40 | $5205 | 2463 |
| **Factor Change** | **Capital Cost (US$ million)** | **NPV at 5% (US$ million)** |
| 0.60 | $436 | 3352 |
| 0.80 | $581 | 3230 |
| 1.00 | $727 | 3108 |
| 1.20 | $872 | 2986 |
| 1.40 | $1018 | 2864 |

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| 22-9 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 22-9: After-Tax Sensitivity Analysis
The sensitivity analysis at Valentine shows that the after-tax NPV at a 5% base discount rate is most sensitive to metal prices, then head grades, and metallurgical recoveries, followed by operating costs and capital costs.

A sensitivity analysis of discount rates is presented in Figure 22-10

#### Figure 22-10: After-Tax Discount Rate Sensitivity Analysis

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| 22-10 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

23.0 Adjacent Properties

The Valentine Gold Project is located within the central Newfoundland gold belt, which consists of numerous sedimentary, volcanic, volcaniclastic, metasedimentary and metavolcanic rocks, as well as intrusives ranging from felsic to mafic in composition. Numerous gold and base metal occurrences are found throughout the belt, with the dominant gold deposit type being orogenic, structurally controlled gold, and the major source of base metals coming from VMS-style deposits such as the Duck Pond and Buchans historical mines. Gold deposits on the Valentine Property are associated with the Valentine Lake Shear Zone, a crustal-scale zone of deformation which bisects the island of Newfoundland. Gold showings occur along this deformation zone and are generally associated with quartz veining and hydrothermal alteration within volcanic and intrusive, and to a lesser degree, sedimentary rocks of various formations. Adjacent mineral exploration licenses have been staked in geographical association with the VLSZ and target mineralization signatures similar to those found on the Valentine Project. Specifically, around the Valentine Project, the bulk of accessible (non-water) land has been staked by various junior exploration companies and individuals (Figure 23-1).

Gold occurrences and showings in surrounding licenses are relatively poorly advanced and no known gold mineral resource estimates completed on adjacent properties to the best of the QP's knowledge. Work completed on adjacent licenses includes prospecting, geological mapping, geophysical surveys, soil and till sampling, and diamond drilling. Figure 23-1 shows the surrounding mineral licenses as depicted by the Newfoundland and Labrador Government's Geoscience Atlas, which is automatically updated on a daily basis. The deposits defined at Valentine are the largest and most advanced in the area. Mineralization on adjacent properties is not necessarily indicative of potential on Equinox's mineral licenses, and the QP has not reviewed the accuracy of the information reported for adjacent properties.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

#### Figure 23-1: Map of EQX Staked Mineral Licenses and Surrounding Licenses Owned by Other Entities
Source: Equinox 2026.

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| 23-2 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

24.0 Other Relevant Data and Information

No additional information or explanation is necessary to make this Technical Report understandable and not misleading.

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| 24-1 | ![](trfootimg.jpg) |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

25.0 Interpretation and Conclusions

25.1 Conclusions

25.1.1 Geology and Mineral Resources

&nbsp;&nbsp;&nbsp;&nbsp;· The 2025 Mineral Resource Estimate for the Valentine Gold Mine was completed in accordance with the CIM (2014) definitions, follows the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (CIM 2019), and meets all disclosure requirements under NI 43-101.

&nbsp;&nbsp;&nbsp;&nbsp;· The QP considers the drill hole database supporting the estimate to be reliable, with comprehensive validation of assays, surveys, geological logs, and QA/QC results having been completed.

&nbsp;&nbsp;&nbsp;&nbsp;· Geological and mineralization models accurately reflect current understanding of lithological controls, QTPV system geometries, and structural orientations across all deposits.

&nbsp;&nbsp;&nbsp;&nbsp;· Estimation methodology, including grade capping, 1 m compositing, variography, dynamic anisotropy, and ID³ interpolation, provides a robust and unbiased representation of gold mineralization at existing drill density.

&nbsp;&nbsp;&nbsp;&nbsp;· Block model validation (volume reconciliation, statistical checks, swath plots, quantile–quantile (Q–Q) analysis, and visual review show no material global or local bias, with volumes reconciling within 0.1% of wireframes.

&nbsp;&nbsp;&nbsp;&nbsp;· Mineral Resources were constrained within Whittle-optimized open-pit shells and underground stope shapes, demonstrating reasonable prospects for eventual economic extraction using appropriate economic assumptions.

&nbsp;&nbsp;&nbsp;&nbsp;· Resource classification appropriately reflects geological confidence, data density, and estimation performance, consistent with CIM (2014) definition.

&nbsp;&nbsp;&nbsp;&nbsp;· The Valentine Gold Mine deposits (Marathon, Leprechaun, Berry, Sprite, and Victory) form part of a district-scale mineralized corridor associated with the Valentine Lake Shear Zone, indicating potential for further exploration growth along strike and at depth, as well as along previously unrecognized second- and third-order structures.

&nbsp;&nbsp;&nbsp;&nbsp;· Exploration, drilling procedures, and QA/QC controls are considered consistent with industry best practices and sufficient for Mineral Resource estimation.

&nbsp;&nbsp;&nbsp;&nbsp;· The resulting 2025 Mineral Resource estimate provides a defensible basis for mine planning and Mineral Reserve estimation.

25.1.2 Mining and Mineral Reserves

&nbsp;&nbsp;&nbsp;&nbsp;· Proven and Probable Mineral Reserves have been converted from Measured and Indicated Mineral Resources at Leprechaun, Berry and Marathon. Inferred Mineral Resources are treated as waste.

&nbsp;&nbsp;&nbsp;&nbsp;· Factors that may affect the Mineral Reserve estimates include metal prices, changes in interpretations of mineralization geometry and continuity of mineralization zones, geotechnical and hydrogeological assumptions, ability of the mining operation to meet the annual production rate, operating cost assumptions, process plant and mining recoveries, the ability to meet and maintain permitting and environmental license conditions, and the ability to maintain the social license to operate.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;· Open pit mine plans, mine production schedules, and mine capital and operating costs have been developed for the Mineral Reserves estimates at Leprechaun, Berry and Marathon.

&nbsp;&nbsp;&nbsp;&nbsp;· Pit layouts and mine operations are typical of other open pit gold operations in Canada, and the unit operations within the developed mine operating plan were based on site experience to date.

&nbsp;&nbsp;&nbsp;&nbsp;· The mine plan supports the cash flow model and financials.

25.1.3 Mineral Processing

&nbsp;&nbsp;&nbsp;&nbsp;· The process plant currently treats ore via a conventional comminution-gravity-cyanidation flowsheet and has been designed to nominally treat 2.5 Mt/a of ore. Run-of-mine (ROM) ore is processed via conventional primary crushing and two-stage grinding circuit followed by a gravity concentration circuit. Gravity circuit tailings are treated via cyanidation and a carbon-in-leach (CIL) circuit and associated gold recovery and carbon handling circuits to produce gold doré. CIL tailings are treated via a cyanide destruction process prior to storage in the tailings management facility (TMF).

&nbsp;&nbsp;&nbsp;&nbsp;· Plant construction was completed in Q3 2025, and the first gold pour was achieved on September 15, 2025. Commercial production, representing 80% nameplate capacity, was achieved on November 18th, 2025. Studies are underway to increase nominal plant throughput from 2.5 Mt/a to 5.0 Mt/a

&nbsp;&nbsp;&nbsp;&nbsp;· The development of the current process plant flowsheet was underpinned by comprehensive metallurgical test work programs completed during previous feasibility studies. Metallurgical test work programs were conducted on representative mineralized core samples from Leprechaun, Marathon and Berry deposits. Metallurgical test work results have demonstrated that mineralized samples from the various Valentine Gold deposits is free milling and amenable to conventional cyanidation.

&nbsp;&nbsp;&nbsp;&nbsp;· The current comminution circuit design (primary crushing-SAG-Ball milling) was based on extensive comminution test work. Ore competency is high. Ore hardness in terms of RWI and BWI is considered moderate. Ore abrasion is moderately high.

&nbsp;&nbsp;&nbsp;&nbsp;· The ore is amenable to recovery by gravity concentration and is supported by extended gravity recoverable gold (E-GRG) tests.

&nbsp;&nbsp;&nbsp;&nbsp;· The current leach-CIL circuit was based on cyanidation leaching test work. The nominal overall gold extraction (gravity recovery plus gravity tails leaching) that the plant was designed is 93%.

&nbsp;&nbsp;&nbsp;&nbsp;· The proposed plant expansion is based on previously completed metallurgical test work and is expected to treat a nominal 5 Mt/a ore and achieve an overall gold extraction of 93%.

25.1.4 Infrastructure

&nbsp;&nbsp;&nbsp;&nbsp;· Power to the mine is supplied by Newfoundland and Labrador's Star Lake hydroelectric generation station and is transmitted to the mine site via a transmission line. The current mine's power supply is 19.0 MW for peak demand. For the planned Phase 2 Plant Expansion, an additional 13.0 MW for peak demand is anticipated.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;· The primary source of water to meet the Process Plant's water demand is the reclaimed water from the TMF tailings pond, and the secondary source is fresh water from NL Hydro's Victoria Lake reservoir.

&nbsp;&nbsp;&nbsp;&nbsp;· Water management is performed by collecting surface contact water runoff from facilities and containing the contact water within sedimentation ponds to minimize total suspended solids prior to controlled water release into the receiving environment.

&nbsp;&nbsp;&nbsp;&nbsp;· As with the other main infrastructure, the administration building, laboratory, truck wash, explosives storage and fuel station have been sized to support the mine and process operation. Construction of a permanent truck shop is underway. Installation of a permanent operations camp is underway and will phase out some of the accommodation in the construction camp.

&nbsp;&nbsp;&nbsp;&nbsp;· The TMF has been designed in accordance with CDA guidelines and the stability of the dams meets the target factors of safety required as per CDA. Tailings deposition plans have been developed to establish wide tailings beaches adjacent to the rockfill containment dams and to maintain the water pond against natural ground and away from the dams.

&nbsp;&nbsp;&nbsp;&nbsp;· A seepage and surface water runoff collection ditch is installed downstream of the TMF to collect any water into a collection sump where it is pumped back into the TMF reservoir.

&nbsp;&nbsp;&nbsp;&nbsp;· After pre-treatment of process water for dissolved metals and cyanide destruction, biological treatment of process water with a submerged attached growth reactor (SAGR) will reduce the overall ammonia concentration to non-toxic levels.

&nbsp;&nbsp;&nbsp;&nbsp;· With the increase of required tailings storage capacity beyond the current design capacity of the TMF, tailings deposition would transition into the Berry pit once the pit has been mined out.

25.1.5 Environment

&nbsp;&nbsp;&nbsp;&nbsp;· Compliance-based environmental management is in place for operations: Since achieving commercial operation in November 2025, Valentine's environmental programs are structured around compliance obligations under approvals stemming from the federal EIS/EA (released August 24, 2022) and provincial EA (released March 17, 2022), plus subsequent permit/authorization requirements and annual regulatory submissions; the site operates under a formal monitoring framework that spans operations through closure.

&nbsp;&nbsp;&nbsp;&nbsp;· Follow-up monitoring and adaptive management are extensive and formalized: The Project has developed 11 environmental follow-up monitoring plans (FMPs) plus 13 additional plans that define protection measures, compliance/effects monitoring, and contingency actions; the plans are "living documents" intended to be refined with permit amendments, monitoring changes, and evolving best practices, with contingency measures triggered if monitoring indicates deviations that may cause adverse effects.

&nbsp;&nbsp;&nbsp;&nbsp;· Acid Rock Drainage/Metal Leaching (ARD/ML) outcomes show low potential acid generating (PAG) overall at Marathon/Leprechaun, higher at Berry, and tailings non-PAG (but water-quality exceedances are expected): Estimated potentially acid-generating (PAG) waste rock is approximately 1.5% to 4% at Marathon and approximately 1.0% at Leprechaun, while Berry is approximately 11% PAG/uncertain (ABA-based; Quartz Monzonite (Q-MONZ) and Quartz-Tourmaline-Pyrite (QTP) units highest at approximately 19% to 20% PAG samples). Tailings composites are classified as non-PAG, and mixing of Marathon/Berry/Leprechaun ores is expected to keep tailings non-PAG; however, during operations, arsenic, copper, and total cyanide in TMF are expected to exceed Metal and Diamond Mining Effluent Regulations (MDMER) limits, and tailings management facility (TMF) pond discharge modelling predicts exceedances of multiple Canadian Water Quality Guidelines (CWQG) parameters—an assimilative capacity study indicates
treated effluent meeting MDMER would fall below CWQG/background within approximately 300 m of the regulatory mixing zone. An operational ARD/ML sampling program is defined (e.g., waste rock: 1 per 9,000 t; ore: 1 per 9,000 t; tailings end-of-pipe: 1 per 48,000 t in years 1–3, then 1 per 77,000 t).

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;· Environmental monitoring results in 2025 were largely consistent with EA predictions, with specific noted exceptions/events: Ambient air monitoring in 2025 reported 24-hour Total Suspended Particulates (TSP) results below the Newfoundland and Labrador Ambient Air Quality Standards (NL AAQS) 120 µg/m³ at project sites, with one exceedance at the Victory exploration site (approximately 5 km northeast of the mine) attributed to access-road traffic. Noise monitoring in 2025 identified episodic exceedances (% highly annoyed / potential wildlife disturbance) during peak construction-related activities, and modelled operations were predicted to meet Health Canada criteria at receptors, with the accommodations camp noted as exceeding the nighttime 45 dBA target. Surface water did not discharge from Final Discharge Points in 2025 because water-management infrastructure is still under construction; one extreme rainfall event (approximately 100 mm/24 h) resulted in sediment discharges
reported to Fisheries and Oceans Canada (DFO). A fish/fish-habitat sediment release in November 2025 resulted in a DFO cautionary letter (December 2025), and a later DFO inspection (December 2025) found the Project's mitigation efforts satisfactory.

&nbsp;&nbsp;&nbsp;&nbsp;· Permitting/engagement and closure planning are advanced and active: The Project has socio-economic agreements with two Indigenous communities (Miawpukek First Nation [MFN] and Qalipu First Nation [QFN]) and uses joint Environmental Sub-Committees; an Environmental Technician from QFN is employed, and an MFN technician position was filled June through December 2025 and is being refilled. Two prior Notices of Project Change were approved: communications tower (January 2023) and Berry Pit and infrastructure (August 2023). A further Notice of Change submitted in June 2025 was released from further provincial assessment in October 2025, with a federal decision expected in March 2026. Closure planning is anchored by an approved Rehabilitation and Closure Plan update, including Berry (submitted October 29, 2024; approved November 26, 2024), assuming an 18-year mine life; closure financial assurance is based on an estimated $94 million (C$125.9 million) closure cost (excluding resale/scrap) and
is being provided via scheduled annual payments.

25.1.6 Capital and Operating Costs

&nbsp;&nbsp;&nbsp;&nbsp;· Capital costs for the initial development have been spent, and the future spending is primarily for the Phase 2 Plant Expansion and for sustaining capital.

&nbsp;&nbsp;&nbsp;&nbsp;· The average total cash costs for the LOM are expected to be US$1,580/oz.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

25.2 Risks

The following is a discussion of the key risks for the Mine with summaries of the related controls and risk mitigation strategies.

25.2.1 Infrastructure

Risks identified in relation to the TMF are reviewed for all phases of work including design, permitting, construction, and operations. The TMF design is based on geotechnical drilling and hydrogeological fieldwork. Periodic bathymetric surveys of the supernatant pond and the tailings beaches will be performed to compare to the tailings deposition plan and to make adjustments to the future dam raise construction as required. A water balance has been developed for the TMF and is coupled with the tailings deposition plan to inform the timing of the TMF dam raises.

An Independent Tailings Review Board (ITRB) was established to provide oversight during the lifecycle of the TMF and is an on-going process.

A detailed Tailings Facility Construction Management Plan, including a QA/QC program, has been implemented for construction for current and future expansions of the TMF. An Operations Management and Surveillance (OMS) Manual following the guidelines of the Mining Association of Canada has been put in place for the TMF.

25.2.2 Mineral Resources

Uncertainty associated with mineralization classified as Inferred Resources introduces a risk which should be mitigated with additional infill drilling in each pit.

25.2.2 Mineral Resources

Uncertainty associated with mineralization classified as Inferred Resources introduces a risk which should be mitigated with additional infill drilling in each pit.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

26.0 Recommendations

The QPs offer the following recommendations by discipline.

26.1 Geology and Mineral Resources

1 Continue systematic exploration along strike of the VLSZ to extend open-pit limits and improve geological continuity between adjacent deposits.

2 Increase drilling density at depth to reduce sample spacing, enhance estimation confidence, and support potential expansion of underground resources.

3 Maintain ongoing evaluation of geological and resource models as additional production reconciliation data becomes available to improve model accuracy.

4 Increase acquisition of oriented core and televiewer data to validate structural interpretation of QTPV domains and identify localized variations where Set 2 or Set 3 vein orientations may dominate.

5 Evaluate alternative drilling orientations where existing drilling azimuths may not optimally intersect vein sets or structural controls.

6 Maintain rigorous QA/QC protocols, including standards, blanks, and check assays, to ensure the continued reliability of analytical data used for Mineral Resource estimation.

7 Increase drill density within high-grade zones where spacing remains wide to confirm grade distribution, continuity, and geometry of mineralized shoots.

8 Continue integrating exploration, structural studies, and geological mapping to refine mineralization domains used in resource modeling.

9 Evaluate new exploration targets identified through geophysics, till sampling, and structural interpretation, particularly outside the main shear zone trend.

26.2 Mining and Mineral Reserves

1 Conduct geotechnical monitoring and field data collection of the open pit walls throughout the life of the open pits.

2 Continue to implement the following programs to allow for confirmation of the design assumptions herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Ground Control Management Plan (GCMP).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Geotechnical mapping and regular inspection of benches. This should include tension crack mapping along the crest of the benches.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Geological and major structure mapping to inform and validate the geotechnical model (geology, rock mass, structure, and hydrogeology).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Monitor any potential large-scale movements of the open pit slopes (surface prisms or radar).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) Bi-annual third-party inspections and slope stability audits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f) Implement a geomechanical testing program to confirm all pit slope design values. Compare and adjust recommended slope designs based on slope performance monitoring.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g) Install additional piezometers to allow for on-going assessment of water levels relative to slope depressurization targets and slope design phreatic surface modelling.

3 Conduct geotechnical investigations specific to the Berry Pit to bring the geotechnical model and design to a construction level of confidence, to be completed in 2026.

4 Complete detailed geotechnical evaluation for the phases to determine if interim pit phases require design adjustments

5 Continue to focus and improve the grade control program to meet the mining loss and dilution parameters.

6 Continue to focus and improve mining productivity to meet or exceed the assumptions of this plan.

7 Pending favourable drilling and modelling results, develop a mine plan for the Frank Zone to advance it towards Mineral Reserve status.

26.3 Mineral Processing

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| 1 | For continued plant optimization, complete a metallurgical test work program to further understand the metallurgical response of various ore types and head grades via the existing plant flowsheet, i.e., Sample characterization: Head analyses including gold by fire assay and cyanidation test work: Standard bottle roll tests including to assess the effect of primary grind size. |

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2 Finalize studies and advance engineering for the plant expansion to achieve 5 Mt/a. <br>3. Continue to investigate a gyratory crusher in place of a second jaw crusher to increase primary crushing capacity.

26.4 Infrastructure

26.4.1 Tailings Management

1 Ensure annual dam safety reviews are performed by WSP's Engineer of Record (EoR) and/or Deputy EoR now that the TMF is operational.

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| 2 | Ensure formal monthly dam inspections are conducted by Valentine's Responsible Tailings Facility Engineer (RTFE). Monthly operational updates should be presented by the RTFE to Mine management to continually inform management of any risks associated with the TMF operation. WSP's EoR and Valentine's RTFE should perform an operational risk assessment specific to dam safety for each dam raise. The proposed budget for this work is estimated to be up to $0.5 million annually. |

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| 3 | Collect TMF operational performance data to validate or refine TMF design assumptions and construction planning, coordinated with the tailings deposition plan and water balance. Bathymetric surveys should initially be performed monthly to measure the actual slopes of the tailings beaches and the volume of the supernatant pond and also to estimate the in-situ tailings density; the frequency can be reduced once deposition parameters are confirmed. Tailings slurry densities and reclaim water volumes should also be collected along with relevant operations data (e.g., tailings tonnages) to support the updates of the deposition plan and water balance so that future dam raise construction plans can be adjusted accordingly. The proposed budget for this work is estimated to be up to $1.5 million annually. |

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| 4 | To address the shortfall in tailings storage capacity in the current TMF design for the LOM, evaluate several concepts, including expanding the current TMF via additional dam raises, constructing a new TMF, and/or in-pit tailings deposition into the Berry Pit (once mined out). A multiple accounts analysis should be conducted to evaluate, score, and rank future tailings deposition alternatives based on economic, engineering, and social criteria. The proposed budget for this analysis is estimated to be less than $0.5 million. Once a concept is selected, a geotechnical foundation investigation program should be planned and conducted to determine the suitability of the proposed alternative. The proposed budget for this program, including engineering and geotechnical laboratory testing, as well as the cost of constructing the preferred concept, will be determined once the preferred deposition concept is selected. |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

26.4.2 Roads and Vehicle Control

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| 1 | Improve road signage and enforce radio position call-outs on radio-controlled access road. Additional traffic lights should be added to control single-lane only areas of the mine access road. An additional second lane should be twinned on 13 single-lane bridges on the mine access road. The proposed budget for these reviews is estimated to be less than $0.5 million. |

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26.4.3 Power Optimization Study

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| 1 | Complete a power system and mine electrification optimization study as part of the Phase 2 Expansion with a focus on interim Phase 2 power before the substation upgrades are completed, considering local gensets, wind, solar, batteries, and other options. The proposed budget for this study is estimated to be less than $0.5 million. |

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26.5 Environment

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| 1 | Continue to evaluate and advance optimization studies for the water management infrastructure during the initial years of operations to reduce the number of discharge points. This recommendation is supported by the fact that each discharge point is regulated under the federal Metal Mining and Diamond Effluent Regulations, as discussed in Section 20.1.7 of this report. |

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2 Ensure a robust performance monitoring evaluation is completed for the SAGR following commissioning, with a focus on ensuring that year-round operation is achievable, and if not, then mitigations can be developed.

26.6 Capital and Operating Costs

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| 1 | Update capital and operating cost estimates using operating performance data from the initial year of commercial production. As the Valentine Gold Mine transitions from construction to steady-state operations, actual operating data for mining productivity, processing throughput, reagent consumption, maintenance costs, and labour requirements should be collected and incorporated into future life-of-mine cost updates. This will allow refinement of operating cost assumptions and improved confidence in long-term economic projections. |

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| 2 | Refine sustaining capital forecasts based on equipment performance and maintenance history. Sustaining capital assumptions for major mobile mining equipment, process plant components, and infrastructure should be reviewed periodically using actual maintenance and reliability data. This will allow optimization of equipment replacement schedules and improve accuracy of long-term sustaining capital requirements in the life-of-mine financial model. |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

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| 3 | Continue evaluation of cost optimization opportunities associated with the Phase 2 Plant Expansion. As engineering and detailed design progress for the proposed throughput expansion, additional opportunities should be evaluated to optimize capital efficiency and operating costs, including comminution circuit configuration, energy consumption, reagent usage, and water management. Updated cost estimates should be developed as engineering advances to improve the accuracy of the expansion capital estimate and confirm operating cost assumptions at the higher throughput rate. |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

27.0 References

Barbour, D. 1990. Valentine Lake gold prospect. *In* Metallogenic Framework of Base and Precious Metal Deposits, Central and Western Newfoundland. *Edited by* H.S. Swinden, D.T.W. Evans and B.F. Kean. Eighth IAGOD Symposium Field Trip Guidebook. Geological Survey of Canada, Open File 2156, pages 73-76.

Barbour, D.M. 1999. Assessment report on geological, geochemical, trenching and diamond drilling exploration for 1999 submission for the Anglo-Newfoundland Development Company Limited Charter and Reid Lots 227 and 229 in the Valentine Lake area, central Newfoundland, Mountain Lake Resources Inc., Newfoundland and Labrador Department of Natural Resources Assessment Report No. 12A/0907, 1999.

Barrington, M.A., Layne, G.D., Dunning, G.R. and Dunsworth, S. 2016. A mineralogical, geochemical, and geochronological study of Marathon Gold Corporation's Valentine Lake Gold Camp, central Dunnage Zone, Newfoundland, Canada; Abstract in Geological Association of Canada Newfoundland and Labrador Section, 2016 Spring Technical Meeting, 1 p.

Base Metallurgical Laboratories. 2022. Metallurgical Study of the Marathon Gold - Berry Deposit. Project BL1021, September 23, 2022

Blackwood, R.F. 1982. Geology of the Gander Lake (2D/15) and Gander River (2E/2) area. Newfoundland Department of Mines and Energy, Geological Survey, Report 82-4, 1982.

Canadian Mining Journal Editor 2013

Capps, N.J.M. and Dunsworth, S.M. 2019. Assessment Report of Diamond Drilling, Environmental Studies and Road Repair and Maintenance; Valentine Lake Property, central Newfoundland, NTS 12A/06, 106 pages, Newfoundland and Labrador Department of Natural Resources Assessment Report, Submitted 2020.

CCME. 2010, 2019, 2020. CCME. 2019. Canadian Environmental Quality Guidelines (CEQG). https://www.ccme.ca/en/resources/canadian_environmental_quality_guidelines/

Canadian Institute of Mining, Metallurgy and Petroleum (CIM). 2019. CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines, adopted by the CIM Council on November 29, 2019.

Canadian Institute of Mining, Metallurgy and Petroleum (CIM). 2014: CIM Definition Standards for Mineral Resources and Mineral Reserves, adopted by CIM Council on 10 May 2014.

Colman-Sadd, S. P. 1980. Geology of South-central Newfoundland and evolution of the eastern margin of Iapetus. *American Journal of Science*, *280*(10), 991–1017.

Colman-Sadd, S.P., Hayes, J.P. and Knight, I., (2000). Geology of the Island of Newfoundland (digital version of Map 90-01 with minor revisions). Newfoundland Department of Mines and Energy, Geological Survey, Map 2000-30, scale 1:1 000 000.

COSEWIC (Committee on the Status of Endangered Wildlife in Canada). 2012. COSEWIC assessment and status report on the American Eel Anguilla rostrata in Canada. Committee on the Status of Endangered Wildlife in Canada. Ottawa. xii + 109 pp.

Dunning, G.R. 2017. Report on dating of zircon, monazite and rutile from 3 rock samples of the Marathon Gold property, Valentine Lake. Marathon Gold Corp., Internal Report. 6 p.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Dunning, G.R., Swinden, H.S., Kean, B.F., Evans, D.T.W. and Jenner, G.A. 1991. A Cambrian island arc in Iapetus: geochronology and geochemistry of the Lake Ambrose Volcanic Belt, Newfoundland Appalachians; Geological Magazine, v. 128, p. 1-17.

Dunsworth, S.M. 2011. Assessment Report of Diamond Drilling, Line Cutting, IP Geophysical Survey, Channel Sampling, Soil Sampling, Prospecting, Camp Construction and Road Repairs; Valentine Lake Property, central Newfoundland, NTS 12A/06 and 12A/07, 80 pages, Newfoundland and Labrador Department of Natural Resources Assessment Report, 2011.

Dunsworth, S.M., Capps, N.J.M. and Tettelaar, T. 2017. Assessment Report of Diamond Core Drilling, Seismic Surveying, Environmental Studies, and Road Repair & Maintenance; Valentine Lake Property, Central Newfoundland, NTS 12A/06 and 12A/07, 62 pages, Newfoundland and Labrador Department of Natural Resources Assessment Report, 2017.ECCC 2020

Evans, D.T.W. 1993. Gold mineralization in the Eastern Dunnage Zone, central Newfoundland; Current Research (1993) Newfoundland and Labrador Department of Natural Resources Geological Survey, Report 93-1, p. 339-349.

Evans, D.T.W. 1996. Epigenetic gold occurrences, eastern and central Dunnage Zone, Newfoundland. Government of Newfoundland and Labrador, Department of Mines and Energy, Geological Survey, Mineral Resources Report 9, 135 p.

Evans, D.T.W. 1999. Epigenetic Gold Mineralization, Baie Verte Peninsula, Newfoundland. In Current Research. Government of Newfoundland and Labrador, Department of Mines and Energy, Geological Survey Branch, Report 99-1, p. 163-182.

Evans, D.T.W. and Kean, B.F. 2002. The Victoria Lake Supergroup, central Newfoundland - its definition, setting and volcanogenic massive sulphide mineralization. Newfoundland Department of Mines and Energy, Geological Survey, Open File NFLD/2790, 68 pages

Evans, D.T.W. and Wilson, M. 1994. Epigenetic gold occurrences in the eastern Dunnage Zone, Newfoundland: Preliminary stable-isotope results. In Current Research. Government of Newfoundland and Labrador, Department of Mines and Energy, Geological Survey Branch, Report 94-1, p. 211-223.

Evans, D.T.W. and Wilton, D.H.C. 2000. The Midas Pond Gold Prospect, Victoria Lake Group, central Newfoundland: A mesothermal quartz vein system with epithermal characteristics; Exploration Mining Geology, v. 9, No. 1, p. 65-79.

Evans, D.T.W., Kean, B.F. and Dunning, G.R. 1990. Geological Studies, Victoria Lake Group, Central Newfoundland, In Current Research, Newfoundland Department of Mines and Energy, Geological Survey Branch, Report 90-1, 1990.Government of Newfoundland and Labrador 2020.

GEMTEC Consulting Engineers and Geoscientists Limited. 2022b. "Detailed Design Site Wide Geotechnical and Hydrogeological Investigations Valentine Gold Project. Final Report prepared for Marathon Gold Corporation. Project No: 100042.001. July 22, 2022".

GEMTEC Consulting Engineers and Geoscientists Limited. 2022a. "Pumping Test Program Marathon and Leprechaun Deposit Areas, Valentine Gold Project", Project 100107.002. Submitted to Terrane Geoscience Inc., June 7, 2022.

GEMTEC Consulting Engineers and Geoscientists Limited. 2024. "Pumping Test Program Berry Deposit Area, Valentine Gold", Project 100107.005. Submitted to Terrane Geoscience Inc., January 24, 2024.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Groves, D.I., Goldfarb, R.J, Robert, F. and Hart, C.J.R. 2003. Gold deposits in metamorphic belts: overview of current understanding, outstanding problems, future research, and exploration significance; Economic Geology, 98 (2003), p. 1-29.Health Canada 2017

Honsberger, I.W., Bleeker, W., Sanderman, H.A.I., Evans, D.T.W. and Kamo, S.L. 2019. Structural geology of a gold-bearing quartz vein system, Wilding Lake region, central Newfoundland; Current Research (2019) Newfoundland and Labrador Department of Natural Resources Geological Survey, Report 19-1, pages 23-38.

Hrabi, B. 2014. Structural Geology Investigation of the valentine Gold Project, Newfoundland, SRK Consulting presentation prepared for Marathon Gold Corporation. February 7, 2014.

Kean, B.F. 1977. Geology of the Victoria Lake Map Area (12A/6), Newfoundland, Newfoundland Department of Mines and Energy, Mineral Development Division, Report 77-4, 11 Pages, 1977.

Kean, B.F. and Evans, D.T.W. 1988. Regional Metallogeny of the Victoria Lake Group, Central Newfoundland, In Current Research, Newfoundland Department of Mines and Energy, Mineral Development Division, Report 88-1, 1988.

Kean B.F. and Jayasinge, N.R. 1982. Geology of the Badger map area (12A/16), Newfoundland. Newfoundland Department of Mines and Energy, Mineral Development Division, Report 81-2, 37 pages.King, A.F., 1980. The birth of the Caledonides: Late Precambrian rocks of the Avalon Peninsula, Newfoundland and their correlatives in the Appalachian Orogen. In: D.R. Wones (Editor), The Caledonides in the USA. Virginia Polytech. Inst. State Univ., Mem., 2: 3-9.

Kruse, S. 2020. Structural Analysis of the Valentine Gold Project, Terrane Geosciences prepared for Marathon Gold Corporation, August 12, 2020

Kruse, S. and Bartsch, C. 2020. Vein Orientation Study – Valentine Gold Project – Revision 3. Marathon Gold Corp., Internal report. 27 p.

Layne, G.D., Guffey, S.D and Kamo, S.L. 2022. An explicit age for gold mineralization in the Valentine Lake Gold Camp, Central Newfoundland, Canada, Geological Association of Canada-Mineralogical Association of Canada (GAC-MAC) Annual Meeting, Halifax, NS, May 2022, Abstracts with programs, v. 45, p. 134.Lincoln et al. 2018a, 2018b

Marathon Gold Corporation. 2017. Marathon Gold Buys Back the 3% Precious Metals and 2% Base Metals Royalty on the Valentine Lake Gold Property in Newfoundland; News Release dated November 14, 2017.

Marathon Gold Corporation. 2019. Marathon Gold Completes Sale of Royalty to Franco-Nevada for Proceeds of $18 Million; News Release dated February 21, 2019.

Marathon Gold. 2022. Valentine Gold Project, NI 43-101 Technical Report and Feasibility Study, 536 pg. November 30, 2022.

Piercey, S.J., Squires, G.C. and Brace, T.D. 2014. Lithostratigraphic, Hydrothermal, and Tectonic Setting of the Boundary Volcanogenic Massive Sulphide Deposit, Newfoundland Appalachians, Canada: Formation by Subseafloor Replacement in a Cambrian Rifted Arc. Economic Geology, v. 109, p. 661-687.

Pollock, J.C., Wilton, D.H.C., and Van Staal, C.R. 2002. Geological Studies and Definitions of the Tally Pond Group, Victoria Lake Supergroup, Exploits Subzone, Newfoundland Appalachians, In Current Research, Newfoundland Department of Mines and Energy, Geological Survey, Report 02-1, Pages 155-167, 2002.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Robert, F. and Poulsen, K.H. 2001. Vein formation and deformation in greenstone gold deposits. Soc. Econ. Geol. Rev. 14, 111–155.

Rogers, N. and van Staal, C. 2002. Toward a Victoria Lake Supergroup: a provisional stratigraphic revision of the Red Indian to Victoria Lakes Area, Central Newfoundland. Current Research (2002) Newfoundland Department of Mines and Energy, Geological Survey, Report 02-1, pages 185-195Sandeman et al. 2010

Rogers, N., van Staal, C.R., Zagorevshki, I., Skulski, T., Piercey, S., and McNicoll, V.J. 2007. Timing and Tectonic Setting of Volcanogenic Massive Sulphide Bearing Terranes within the Central Mobile Belt of the Canadian Appalachians; In: B. Milkereit (ed.), Proceedings of Exploration 07: Fifth Decennial International Conference on Mineral Exploration, p. 1199-1205.

Sandeman H.A., Rafuse H. and Copeland D. 2010. The setting of orogenic auriferous quartz veins at the Golden Promise prospect, central Newfoundland, and observations on veining and wall-rock alteration; St. John's, Newfoundland Department of Natural Resources, Geological Survey, 16 p.

Sandeman, H.A.I., Dunning, G.R., McCullough, C.K., and Peddle, C. 2017. U-Pb geochronology, petrogenetic relationships and intrusion-related precious-metal mineralization in the norther Mount Peyton Intrusive Suite: implications for the origin of the Mount Peyton trend, Central Newfoundland (NTS 2D/04). Current Research (2017) Newfoundland and Labrador Department of Natural Resources, Geological Survey, Report 17-1, pages 189-217

Sandeman, H., Honsberger, I. & Camacho, A. 2022. Overview of age constraints for gold mineralization in central and western Newfoundland and new 40Ar/39Ar ages for muscovite from selected auriferous zones. Atlantic Geoscience, 58, 267–289. https://doi.org/10.4138/atlgeo.2022.012

SGS. 2019. An Investigation of gold recovery from Valentine Lake project ores. Prepared by SGS Canada Inc. for Marathon Gold. Project 16863-01 (includes 16863-01) – Report 1 of 3 – Comminution. December 31, 2019

SGS .2020. An Investigation of gold recovery from Valentine Lake Project Ores. Prepared by SGS Canada Inc. for Marathon Gold. Project 16863-01 (includes 16863-03) – Report 2 of 3 – Milling. April 15, 2020

Stantec. 2014. Winter Wildlife Survey. Prepared by Stantec Consulting Ltd. for Marathon Gold Corporation. St. John's, NL. May 22, 2014.

Stantec. 2014. 2011 Forest Songbird Surveys at the Valentine Lake Prospect. Report prepared by Stantec Consulting Ltd. for Marathon Gold Corporation. Toronto, ON. August 13, 2014. 13 pp. + Appendices.

Stantec. 2015. Ecosystem Classification and Mapping of the Marathon Gold Corporation Valentine Lake Project, Central Newfoundland. Report prepared by Stantec Consulting Ltd. for Marathon Gold Corporation. Pasadena, NL. November 23, 2015. 215 pp + Appendices.

Stantec. 2018. Valentine Lake Project: Newfoundland Marten Baseline Study. Prepared by Stantec Consulting Ltd. For Marathon Gold Corporation. St. John's, NL. August 24, 2018.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Stantec. 2020. Valentine Gold Project Hydrology and Water Quality Monitoring Baseline Report. Final Report prepared for Marathon Gold Corporation. September 25, 2020.

Stantec. 2022. Valentine Gold Project: 2021 Bat Baseline Survey. Prepared by Stantec Consulting Ltd. for Marathon Gold Corporation. April 1, 2022.

Stantec. 2023. Valentine Gold Project: Bat Follow-Up Monitoring Program – 2023 Survey (Construction Phase), Final Report. Prepared by Stantec Consulting Ltd. for Marathon Gold Corporation. February 7, 2024.

Stantec. 2023. Valentine Gold Project – Berry Pit Expansion: Hydrogeological Model Update. August 2023.

Stantec. 2024. Acid Rock Drainage and Metal Leaching (ARD/ML) Management Plan. Version 4.0. Prepared by Stantec Consulting Ltd. August 2024.

Staples, P., Farmer, R., Eccles, D.R., Smith, S., Schulte, M., Merry, P., Russell, S., and Anstey-Moore, C. 2021. Technical Report & Feasibility Study on the Valentine Gold Project, Newfoundland and Labrador, Canada; National Instrument 43-101 technical report prepared for Marathon Gold Corporation with an effective date of April 15, 2021, 511 p.

Statistics Canada 2017. Census Profile. 2016 Census. Statistics Canada Catalogue no. 98-316-X2016001. Ottawa. Released November 29, 2017. Available at: https://www12.statcan.gc.ca/census-recensement/2016/dp- pd/prof/index.cfm?Lang=E. Accessed April 2020.

Terrane Geoscience Inc. 2021. Feasibility Geotechnical Investigation: Marathon and Leprechaun Deposits. Final Report, April 22, 2021.

Terrane Geoscience Inc. 2022. Leprechaun Open Pit Design Sector 5 Slope Optimization, August 11, 2022.

Terrane Geoscience Inc. 2023. Berry Deposit Feasibility Design Report. January 6. 2023.

Tuach, J., Dean, P.L, Swinden, H.S., O'Driscoll, C.F., Kean, B.F. and Evans, D.T.W. 1988: Gold mineralization in Newfoundland: A 1988 review. In Current Research. Government of Newfoundland and Labrador, Department of Mines, Mineral Development Division, Report 88-1, p. 279-306.

Van Staal, C.R., P. Valverde-Vaquero, A. Zagorevski, N. Rogers, C.J. Lissenberg, and V.J. McNicoll. 2005. Geology, Victoria Lake, Newfoundland and Labrador; Geological Survey of Canada, Open File 1667, scale 1:50 000.

Van Staal, C.R., Whalen, J.B., Valverde-Vaquero, P., Zagorevski, A., and Rogers, N. 2009. Pre-Carboniferous, episodic accretion-related, orogenesis along the Laurentian margin of the northern Appalachians. In: J.B. Murphy, J.D. Keppie, and A.J. Hynes (eds.), Ancient Orogens and Modern Analogues, Geological Society, London, Special Publication, 327, pp. 271–316. Wardle 2004

Wardle R.J. 2005. Compiler: Mineral commodities of Newfoundland and Labrador: Gold. Newfoundland and Labrador. Department of Natural Resources Geological Survey, Mineral Commodities Series, Number 4, 15 p.

Wilson, J.M. 2025. Analytical Quality Assurance and Quality Control Report on the Valentine Gold Project – Draft 2, Newfoundland and Labrador, Canada. Calibre Mining Corp., Internal report. 25 p.

Wilson, J.M., Borysenko, J. 2023. Analytical Quality Assurance and Quality Control Report on the Valentine Gold Project, Newfoundland and Labrador, Canada. Marathon Gold Corp., Internal report. 62 p.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

Woods, G. 2009. Technical Report, 2005-2008 Exploration Programs, Valentine Lake Gold District, A Joint Venture with Richmont Mines Inc., central Newfoundland, NTS 12A/06 and 12A/07, March 23, 2009.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

28.0 Date and Signature Date

This report titled "NI 43-101 Technical Report for the Valentine Gold Mine, Newfoundland and Labrador, Canada" with an effective date of December 31, 2025 was prepared and signed by the following authors:

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|  | **(Signed & Sealed) *Kelly Boychuk*** |
| Dated at Vancouver, BC | Kelly Boychuk, P.Eng., MBA |
| March 30, 2026 |  |
|  | **(Signed & Sealed) *Nicholas Capps*** |
| Dated at Grand Falls-Windsor, NL | Nicholas Capps, P.Geo. |
| March 30, 2026 |  |
|  | **(Signed & Sealed) *Jeffrey Colden*** |
| Dated at Fernie, BC | Jeffrey Colden, P.Eng. |
| March 30, 2026 |  |
|  | **(Signed & Sealed) *Stuart Collins*** |
| Dated at Lakewood, CO | Stuart Collins, P.E. |
| March 30, 2026 |  |
|  | **(Signed & Sealed) *Scott Davidson*** |
| Dated at Vancouver, BC | Scott Davidson, M.Sc., P.Geo. |
| March 30, 2026 |  |
|  | **(Signed & Sealed) *Niel de Bruin*** |
| Dated at Vancouver, BC | Niel de Bruin, P.Geo. |
| March 30, 2026 |  |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

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|  | **(Signed & Sealed) *Tony Gilman*** |
| Dated at Halifax, NS | Tony Gilman, M.Sc., P.Eng. |
| March 30, 2026 |  |
|  | **(Signed & Sealed) *Neil Lincoln*** |
| Dated at Ottawa, ON | Neil Lincoln, P.Eng. |
| March 30, 2026 |  |
|  | **(Signed & Sealed) *Grant A. Malensek*** |
| Dated at Lakewood, CO | Grant A. Malensek |
| March 30, 2026 |  |

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

29.0 Certificate of Qualified Person

29.1 Kelly Boychuk

I, Kelly Boychuk, P.Eng. MBA, as an author of this report entitled "NI 43-101 Technical Report, Valentine Gold Mine, Newfoundland and Labrador, Canada" with an effective date of December 31, 2025 prepared for Equinox Gold Corp., do hereby certify that:

1. I am currently employed as SVP of Mining Infrastructure with Equinox Gold Corp. with an office at 700 West Pender Street, Suite 1501, Vancouver, BC V6C 1G8.

2. This certificate applies to the technical report titled Technical Report on the Valentine Gold Mine, Newfoundland and Labrador, with an effective date of December 31, 2025, (the "Technical Report") prepared for Equinox Gold Corp. (the "Issuer").

3. I am a graduate of the University of British Columbia with both a Bachelor of Applied Science (Geological Engineering) and a Master of Business Administration. I am a registered member in good standing with Engineers and Geoscientists British Columbia (License # 20272). I have worked as a Geotechnical Engineer for a total of 35 years and primarily in the mining industry.

4. I have read the definition of "qualified person" set out in National Instrument 43-101 (NI 43 101) and certify that by reason of my education, affiliation with a professional association (as defined in NI 43 101) and past relevant work experience, I fulfill the requirements to be a "qualified person" for the purposes of NI 43-101.

5. I last visited the Valentine Gold Mine on September 8, 9 and 10, 2025.

6. I am responsible for sections 1.1.1.4, 1.1.2.4, 1.1.3 (TMF), 1.3.11, 18, 25.1.4, 25.2.1, 26.4, and associated disclosure in Section 27 of the Technical Report.

7. I am not independent of the Issuer.

8. I have had prior involvement with the property that is the subject of the Technical Report; I participated in the annual site visit with the Independent Tailings Review Board and the Engineer
of Record in September 2025 as well as with the kick-off meeting for the multiple accounts analysis for additional tailings management
facilities.

9. I have read NI 43-101, and the Technical Report has been prepared in compliance with NI 43-101 and Form 43-101F1.

10. As of the effective date of the Technical Report and the date of this certificate, to the best of my knowledge, information and belief, this Technical Report contains all scientific and technical information that is required to be disclosed to make the Technical Report not misleading.

Dated this 30th day of March, 2026,

/s/ *Kelly Boychuk*

#### Kelly Boychuk, P.Eng., MBA

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

29.2 Nicholas Capps

I, Nicholas Capps, B.Sc., P.Geo., as an author of this report entitled "NI 43-101 Technical Report, Valentine Gold Mine, Newfoundland and Labrador, Canada" with an effective date of December 31, 2025 prepared for Equinox Gold Corp., do hereby certify that:

1. I am employed as the VP Exploration, Newfoundland, for Equinox Gold – Valentine Gold Mine,
7 Queensway, Grand Falls-Windsor, NL, A2B 1K9.

2. I graduated with a B.Sc. (Honours) in Earth Sciences from Memorial University, located in St. John's, Newfoundland, in 2011.

3. I am and have been registered as a Professional Geologist with the Newfoundland and Labrador Professional Engineers and Geoscientists ("PEGNL"; Membership Number 09329) since 2016. I have practiced my profession as a geologist for 14 years since graduating in 2011 and have worked in all aspects of gold exploration, focused on orogenic gold on the island of Newfoundland.

4. I have read the definition of "Qualified Person" set out in the National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) and certify that by reason of my education, affiliation with a professional association and past relevant work experience, I fulfill the requirements to be a Qualified Person for the purpose of NI 43-101 and those sections of the Technical Report that I am responsible for.

5. My most recent site visit to the Valentine Gold Mine took place on December 8 to 12, 2025.

6. I am responsible for sections 1.3.4 to 1.3.5, 7 to 12, 23, and associated disclosure in Section 27 of the Technical Report.

7. I am not independent of Equinox Gold as independence is defined in Section 1.5 of NI 43-101. I am an employee of Equinox Gold.

8. I have had previous involvement with the Project; since 2011, I have worked as a logging geologist,
project geologist, exploration manager and Director of Exploration on the Valentine Gold Mine and surrounding property, with responsibilities
including planning, budgeting and executing greenfield and brownfield exploration programs.

9. I have read NI 43-101 and the sections of the Technical Report for which I am responsible have been prepared in compliance with that Instrument.

10. As of the effective date of the Technical Report, and to the best of my knowledge, information and belief, the sections of the Technical Report for which I am responsible contain all relevant scientific and technical information that is required to be disclosed to make those sections of the Technical Report not misleading.

Dated this 30th day of March, 2026,

/s/ *Nicholas Capps*

#### Nicholas Capps, B.Sc., P.Geo.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

29.3 Jeffrey Colden

I, Jeffrey Colden, P.Eng., as an author of this report entitled "NI 43-101 Technical Report, Valentine Gold Mine, Newfoundland and Labrador, Canada" with an effective date of December 31, 2025 prepared for Equinox Gold Corp., do hereby certify that:

1. I am a Lead Engineer with Moose Mountain Technical Services, with a business address of #210 1510 2nd Street North, Cranbrook, BC, V1C 3L2.

2. I am a graduate of Queen's University at Kingston in 2007 with a Bachelor of Applied Science in Mechanical Engineering and in 2008 with a Master of Engineering in Mining Engineering.

3. I am a member in good standing as a Professional Engineers and Geoscientists Newfoundland and Labrador (# 12293). I have worked as a mining engineer/geologist for a total of 17 years since my graduation. My relevant experience for the purpose of the Technical Report is:

&nbsp;&nbsp;&nbsp;&nbsp;· I have experience in open-pit precious metal operations, and in support of studies and Mineral Reserve Estimates.

&nbsp;&nbsp;&nbsp;&nbsp;· I have experience in costing open-pit mining operations.

4. I have read the definition of "qualified person" set out in National Instrument 43-101 (NI 43-101) and certify that by reason of my education, affiliation with a professional association (as defined in NI 43-101) and past relevant work experience, I fulfill the requirements to be a "qualified person" for the purposes of NI 43-101.

5. I visited the Valentine Gold Mine most recently on September 7, 2024.

6. I am responsible for sections 1.1.1.2, 1.1.2.2, 1.3.8, 1.3.9, 15, 16.0 to 16.1.2, 16.2 to 16.8, 16.8.2 to 16.9, 25.1.2, 26.2 and associated disclosure in Section 27 of the Technical Report.

7. I am not independent of Equinox Gold as independence is set out in Section 1.5 of NI 43-101.

8. I have been involved with the Valentine Gold Mine in support of the Valentine Gold Project NI 43-101 Technical Report and Feasibility Study dated November 2022 and have been seconded to support the construction of the mine since March 2024.

9. I have read NI 43-101, and the Technical Report has been prepared in compliance with NI 43-101 and Form 43-101F1.

10. At the effective date of the Technical Report, to the best of my knowledge, information, and belief, the sections in the Technical Report for which I am responsible contain all scientific and technical information that is required to be disclosed to make the Technical Report not misleading.

Dated this 30<sup>th</sup> day of March, 2026,

/s/ *Jeffrey Colden*

#### Jeffrey Colden, P.Eng.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

29.4 Stuart Collins

I, Stuart Collins, P.E.., as an author of this report entitled "NI 43-101 Technical Report, Valentine Gold Mine, Newfoundland and Labrador, Canada" with an effective date of December 31, 2025 prepared for Equinox Gold Corp., do hereby certify that:

1. I am Principal Mining Engineer with SLR International Corporation, of Suite 100, 1658 Cole Boulevard, Lakewood, CO, USA 80401.

2. I am a graduate of South Dakota School of Mines and Technology, Rapid City, South Dakota, USA, in 1985 with a Bachelor of Science degree in Mining Engineering.

3. I am a Registered Professional Engineer in the state of Colorado (Reg.# 29455). I have been a member of the Society for Mining, Metallurgy, and Exploration (SME) since 1985, and a Registered Member (Reg.# 612514) since September 2006. I have worked as a mining engineer for a total of 36 years since my graduation. My relevant experience for the purpose of the Technical Report is:

&nbsp;&nbsp;&nbsp;&nbsp;· Review and report as a consultant on numerous exploration, development, and production mining projects around the world for due diligence and regulatory requirements.

&nbsp;&nbsp;&nbsp;&nbsp;· Mine engineering, mine management, mine operations and mine financial analyses involving copper, gold, silver, nickel, cobalt, uranium, coal, and base metals, located in the USA, Canada, Mexico, Costa Rica, Argentina, Brazil, Peru, Papua New Guinea, Australia, Mauritania, Liberia, and Turkey.

&nbsp;&nbsp;&nbsp;&nbsp;· Senior positions with consulting and engineering firms and public mining companies.

&nbsp;&nbsp;&nbsp;&nbsp;· Engineering Manager for a number of mining-related companies.

&nbsp;&nbsp;&nbsp;&nbsp;· Business Development for a small, privately owned mining company in Colorado, USA.

&nbsp;&nbsp;&nbsp;&nbsp;· Operations supervisor at a large gold mine in Nevada, USA.

&nbsp;&nbsp;&nbsp;&nbsp;· Involvement with the development and operation of a small underground gold mine in Arizona, USA.

4. I have read the definition of "qualified person" set out in National Instrument 43-101 (NI 43-101) and certify that by reason of my education, affiliation with a professional association (as defined in NI 43-101) and past relevant work experience, I fulfill the requirements to be a "qualified person" for the purposes of NI 43-101.

5. I visited the Valentine Gold Mine on January 21, 2026.

6. I am responsible for sections 1.1, 1.1.1.6, 1.1.2.6, 1.3.1 to 1.3.3, 1.3.12, 1.3.14, 2 to 6, 19, 21, 24, 25.1.6, 26.6, and associated disclosure in Section 27 of the Technical Report.

7. I am independent of the Issuer applying the test set out in Section 1.5 of NI 43-101.

8. I have had no prior involvement with the property that is the subject of the Technical Report.

9. I have read NI 43-101, and the Technical Report has been prepared in compliance with NI 43-101 and Form 43-101F1.

10. At the effective date of the Technical Report, to the best of my knowledge, information, and belief, the sections in the Technical Report for which I am responsible contain all scientific and technical information that is required to be disclosed to make the Technical Report not misleading.

Dated this 30th day of March, 2026,

/s/ *Stuart E. Collins*

#### Stuart E. Collins, P.E.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

29.5 Scott Davidson

I, Scott Davidson, M.Sc., P.Geo., as an author of this report entitled "NI 43-101 Technical Report, Valentine Gold Mine, Newfoundland and Labrador, Canada" with an effective date of December 31, 2025 prepared for Equinox Gold Corp., do hereby certify that:

1. I am employed as the Director Environmental Permitting & Compliance for Equinox Gold – Unit 1501 700 West Pender Street, Vancouver, BC, V6C 1G8.

2. I graduated with a M.Sc. in Geomorphology from the University of British Columbia, located in Vancouver, British Columbia, in 1998.

3. I am and have been registered as a Professional Geoscientist with Engineers and Geoscientists British Columbia ("EGBC"; Membership Number 23774) since 1998. I have practiced my profession as a environmental professional for 27 years since graduating in 1998 and have worked in the Mining Industry for over 25 years focused on environmental management involving permitting, operational integration, environmental compliance, management systems, mine closure, geochemistry, water quality and hydrology.

4. I have read the definition of "Qualified Person" set out in the National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) and certify that by reason of my education, affiliation with a professional association and past relevant work experience, I fulfill the requirements to be a Qualified Person for the purpose of NI 43-101 and those sections of the Technical Report that I am responsible for.

5. My most recent site visit to the Valentine Gold Mine took place on January 21, 2026.

6. I am responsible for sections 1.1.1.5, 1.1.2.5, 1.3.13, 20, 25.1.5, 26.5, and associated disclosure in Section 27 of the Technical Report.

7. I am not independent of Equinox Gold as independence is defined in Section 1.5 of NI 43-101. I am an employee of Equinox Gold.

8. I have been involved with the Project since June 2025, engaging with mine environmental personnel
on matters related to permitting and environmental performance

9. I have read NI 43-101 and the section of the Technical Report for which I am responsible have been prepared in compliance with that Instrument.

10. As of the effective date of the Technical Report, and to the best of my knowledge, information and belief, the sections of the Technical Report for which I am responsible contain all relevant scientific and technical information that is required to be disclosed to make those sections of the Technical Report not misleading.

Dated this 30th day of March, 2026,

/s/ *Scott Davidson*

#### Scott Davidson, M.Sc., P.Geo.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

29.6 Niel de Bruin

I, Niel de Bruin, P.Geo., as an author of this report entitled "NI 43-101 Technical Report, Valentine Gold Mine, Newfoundland and Labrador, Canada" with an effective date of December 31, 2025 prepared for Equinox Gold Corp., do hereby certify that:

1. I am currently employed as Vice President of Mineral Resources – Canada, U.S., Nicaragua and Mexico with Equinox Gold Corp., with an office at 700 W Pender St #1501, Vancouver, BC V6C 1G8.

2. I am a graduate of the University of Free State with a Master of Science degree in Mineral Resource Management.

3. I am a registered member in good standing with Professional Geoscientists Ontario (License #2449). I have worked as a Geologist for a total of 27 years and have relevant experience in open pit and underground mining of gold, mineral resource estimation, exploration management, QA/QC programs and grade control.

4. I have read the definition of "qualified person" set out in National Instrument 43-101 (NI 43 101) and certify that by reason of my education, affiliation with a professional association (as defined in NI 43 101) and past relevant work experience, I fulfill the requirements to be a "qualified person" for the purposes of NI 43-101.

5. I last visited the Valentine Gold Mine on October 14 to 18, 2025.

6. I am responsible for sections 1.1.1.1, 1.1.2.1, 1.1.3 (Resources), 1.3.7, 12, 14, 25.1.1, 25.2.1, 26.1 and associated disclosure in Section
27 of the Technical Report.

7. I am not independent of Equinox Gold as independence is defined in Section 1.5 of NI 43-101. I am an employee of Equinox Gold.

8. I have been involved with the Project since June 2025. My responsibilities included the detailed review and validation of the Mineral Resource models for the Leprechaun, Sprite, Berry, Marathon,
and Victory deposits. This work comprised iterative model evaluations, verification of geological and estimation methodologies, and regular
technical meetings with the Senior Resource Geologist to discuss model updates, underlying assumptions, and data quality considerations.
As part of my due diligence and to support my conclusions, I also conducted a site visit to review key geological exposures, drilling
locations, and mineralized zones, and to confirm the nature and continuity of mineralization underlying the resource models.

9. I have read NI 43-101, and the Technical Report has been prepared in compliance with NI 43-101 and Form 43-101F1.

10. As of the effective date of the Technical Report and the date of this certificate, to the best of my knowledge, information and belief, the sections of the Technical Report for which I am responsible contain all scientific and technical information that is required to be disclosed to make the Technical Report not misleading.

Dated this 30th day of March, 2026,

/s/ *Niel de Bruin*

#### Niel de Bruin, P.Geo.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

29.7 Neil Lincoln

I, Neil Lincoln, P.Eng., as an author of this report entitled "NI 43-101 Technical Report, Valentine Gold Mine, Newfoundland and Labrador, Canada" with an effective date of December 31, 2025 prepared for Equinox Gold Corp., do hereby certify that:

1. I am an Independent Metallurgical Consultant located at 1565 Lords Manor Lane, Ottawa, Ontario, K4M 1K3, Canada.

2. I graduated from the University of the Witwatersrand, South Africa, in 1994 with a Bachelor of Science in Metallurgy and Materials Engineering (Minerals Process Engineering) degree.

3. I am a professional engineer in good standing with the Professional Engineers and Geoscientists Newfoundland and Labrador
 (PEGNL) in Canada (no. 08053). I have practiced my profession in the mining industry continuously since graduation. I have over 30
 years experience as a metallurgist and study manager. I have sufficient relevant experience having worked on numerous projects
 ranging from scoping studies, prefeasibility and feasibility studies to project implementation related to mineral processing plants.
 My mineral processing commodity and unit operations experience includes precious metals, base metals and industrial minerals
 covering metallurgical test work to process plant design. As a result of my experience and qualifications, I am a Qualified Person
 as defined in NI 43 101. Select recent gold projects include:

&nbsp;&nbsp;&nbsp;&nbsp;· Oko West Gold Project (Feasibility Study) for G Mining Ventures, Guyana

&nbsp;&nbsp;&nbsp;&nbsp;· Tocantinzinho Gold Project (Feasibility Study/Detailed Design) for G Mining Ventures, Brazil

&nbsp;&nbsp;&nbsp;&nbsp;· Cerro Blanco Gold Project (Feasibility Study) for Bluestone Resources, Guatemala

&nbsp;&nbsp;&nbsp;&nbsp;· Island Gold Phase 3 Expansion (Detailed Design) for Alamos Gold, Ontario, Canada

&nbsp;&nbsp;&nbsp;&nbsp;· Fruta del Norte Phase 2 Expansion (Detailed Design) for Lundin Gold, Ecuador

4. I have read the definition of "qualified person" set out in the National Instrument 43 101 ("NI 43 101") and certify that by reason of my education, affiliation with a professional association and past relevant work experience, I fulfil the requirements to be a qualified person for the purposes of NI 43 101.

5. I have participated in the preparation of the Technical Report and am responsible for the following sections and sub-sections: 1.1.1.3, 1.1.2.3, 1.3.6, 1.3.10, 13, 17, 21, 25.1.3, 26.3, and associated disclosure in Section 27.

6. I visited the Valentine Gold Mine Process Plant from June 17 to 19, 2025.

7. As of the effective date of the Technical Report, to the best of my knowledge, information and belief, the sections and sub-sections of the Technical Report listed in item 6 above contain all scientific and technical information that is required to be disclosed to make these sections and sub-sections of the Technical Report not misleading.

8. I have read NI 43 101 and believe that the sections and sub-sections of the Technical Report listed in item 6 above have been prepared in accordance with NI 43 101.

9. I have read and understand NI 43-101, and I am considered independent of the issuer as defined in section 1.5 of NI 43 101.

10. I was previously involved with the Preliminary Economic Assessment for the Project in 2018; I have been involved with the current Project
since 2024.

Dated this 30<sup>th</sup> day of March, 2026,

/s/ *Neil Lincoln*

#### Neil Lincoln, P.Eng.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

29.8 Tony Gilman

I, Tony Gilman, M.Sc., P.Eng., as an author of this report entitled "NI 43-101 Technical Report, Valentine Gold Mine, Newfoundland and Labrador, Canada" with an effective date of December 31, 2025 prepared for Equinox Gold Corp., do hereby certify that:

1. I am a Principal Rock Mechanics Engineer with Terrane Geoscience Inc., with a business address of 2089 Maitland Street, Halifax, NS, B3K 2Z8.

2. I am a graduate of University of New Brunswick at Fredericton in 2000 with a Bachelor of Science in Geological Engineering and a graduate of The Pennsylvania State University at State College in 2006 with a Master of Science in Structural Geology.

3. I am a member in good standing as a Professional Engineers and Geoscientists Newfoundland and Labrador (# 05261). I have worked as a rock mechanics engineer/ for a total of 25 years since my graduation. My relevant experience for the purpose of the Technical Report is:

&nbsp;&nbsp;&nbsp;&nbsp;· I have experience in open-pit precious metal geotechnical pit slope design, and in support of studies, developing and operating mines.

&nbsp;&nbsp;&nbsp;&nbsp;· I have experience in mine dewatering estimation and slope depressurization for open pit mines.

4. I have read the definition of "qualified person" set out in National Instrument 43-101 (NI 43-101) and certify that by reason of my education, affiliation with a professional association (as defined in NI 43-101) and past relevant work experience, I fulfill the requirements to be a "qualified person" for the purposes of NI 43-101.

5. I visited the Valentine Gold Mine most recently from November 17 to 19, 2025.

6. I am responsible for Sections 16.1.3 and 16.8.1 of the Technical Report.

7. I am independent of Equinox Gold as independence is set out in Section 1.5 of NI 43-101.

8. I have been involved with the Valentine Gold Mine in support of the Valentine Gold Project NI 43-101 Technical Report and Feasibility Study dated November 2022 and have been retained to support the construction of the mine since March 2024 in aspects related to open pit slope geotechnical design.

9. I have read NI 43-101, and the Technical Report has been prepared in compliance with NI 43-101 and Form 43-101F1.

10. At the effective date of the Technical Report, to the best of my knowledge, information, and belief, the sections in the Technical Report for which I am responsible contain all scientific and technical information that is required to be disclosed to make the Technical Report not misleading.

Dated this 30th day of March, 2026,

/s/ Tony L Gilman

#### Tony Gilman, M.Sc., P.Eng.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

29.9 Grant A. Malensek

I, Grant A. Malensek, M.Eng., P.Eng., as an author of this report entitled "NI 43-101 Technical Report, Valentine Gold Mine, Newfoundland and Labrador, Canada" with an effective date of December 31, 2025 prepared for Equinox Gold Corp., do hereby certify that:

1. I am Technical Director – US Mining Advisory, and Senior Principal Mining Engineer with SLR International Corporation, of Suite 100, 1658 Cole Boulevard, Lakewood, CO, USA 80401.

2. I am a graduate of the University of British Columbia, Canada, in 1987 with a Bachelor of Science degree in Geological Sciences and Colorado School of Mines, USA in 1997 with a Master of Engineering degree in Geological Engineering.

3. I am registered as a Professional Engineer/Geoscientist in the Province of British Columbia (Reg.# 23905). I have worked as a mining professional for a total of 27 years since my graduation. My relevant experience for the purpose of the Technical Report is:

&nbsp;&nbsp;&nbsp;&nbsp;· Feasibility, prefeasibility, and scoping studies

&nbsp;&nbsp;&nbsp;&nbsp;· Fatal flaw, due diligence, and Independent Engineer reviews for equity and project financings.

&nbsp;&nbsp;&nbsp;&nbsp;· Financial and technical-economic modelling, analysis, budgeting, and forecasting.

&nbsp;&nbsp;&nbsp;&nbsp;· Property and project valuations.

&nbsp;&nbsp;&nbsp;&nbsp;· Capital cost estimates and reviews.

&nbsp;&nbsp;&nbsp;&nbsp;· Mine strategy reviews.

&nbsp;&nbsp;&nbsp;&nbsp;· Options analysis and project evaluations in connection with mergers and acquisitions.

4. I have read the definition of "qualified person" set out in National Instrument 43-101 (NI 43-101) and certify that by reason of my education, affiliation with a professional association (as defined in NI 43-101) and past relevant work experience, I fulfill the requirements to be a "qualified person" for the purposes of NI 43-101.

5. I have not visited the Valentine Gold Mine.

6. I am responsible for sections 1.2 and 22, and associated disclosure in Section 27 of the Technical Report.

7. I am independent of the Issuer applying the test set out in Section 1.5 of NI 43-101.

8. I have had no prior involvement with the property that is the subject of the Technical Report.

9. I have read NI 43-101, and the Technical Report has been prepared in compliance with NI 43-101 and Form 43-101F1.

10. At the effective date of the Technical Report, to the best of my knowledge, information, and belief, the sections in the Technical Report for which I am responsible contain all scientific and technical information that is required to be disclosed to make the Technical Report not misleading.

Dated this 30th day of March, 2026,

/s/ *Grant A. Malensek*

#### Grant A. Malensek, P.Eng.

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<u> Equinox Gold Corp. \| Valentine Gold MineNI 43-101 Technical Report</u> <u> March 30, 2026SLR Project No.: 233.065583.00001</u>

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