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Equinox Gold Releases First Climate Change Report

Feb 7, 2023

Equinox Gold Corp. issued its first report on climate change and targeted a 25% reduction in greenhouse gas (GHG) emissions by 2030 as its major goal. Equinox Gold's strategy for GHG emissions reduction is summarized in the company's inaugural Climate Action Report.

Equinox Gold's Climate Action Report outlines the company's strategy for reducing its GHG emissions and mitigating potential negative impacts of climate change on its operations. Equinox Gold supports the goals of the Paris Agreement and has adopted leading industry standards to guide its climate action strategy, including the United Nations Global Compact, the World Gold Council's Responsible Gold Mining Principles and the Mining Association of Canada's Towards Sustainable Mining protocols.

Based on an assessment of existing operations and planned expansions, Equinox Gold determined that diesel combustion in mobile equipment and electricity generation for fixed equipment account for substantially all the Company's GHG emissions. Equinox Gold's near-term GHG emissions reduction initiatives focus on improving the efficiency of its haul trucks, transitioning to lower emissions diesel where supply is available, reducing electricity consumption and, where possible, sourcing electricity from green power sources.

Since 2020, Equinox Gold has been implementing processes to understand its carbon footprint, identify opportunities for improvement and take concrete steps towards establishing a comprehensive climate action strategy. Using baseline GHG emissions data, life-of-mine production forecasts, a detailed assessment of climate-related risks and opportunities at the company's mine sites, and a review of industry standards and available technology, Equinox Gold has committed to a target of reducing its Scope 1 and Scope 2 GHG emissions by 25% by 2030 compared to "business-as-usual" forecast GHG emissions in 2030 if no intervention measures were taken.

 "Equinox Gold has made substantial progress in understanding our carbon footprint and identifying opportunities for improvement," said Greg Smith, President & CEO of Equinox Gold. "We are pleased to deliver our strategy to achieve a 25% reduction in GHG emissions by 2030, as outlined in our inaugural Climate Action Report. We are implementing initiatives at our producing mines that will reduce GHG emissions and operating costs while also considering GHG emissions mitigation opportunities at our development projects so we can achieve both production growth and our climate-related objectives."

Equinox Gold is a growth-focused Canadian mining company with seven operating gold mines. It is presently constructing a new mine in near Geraldton, Ontario. Equinox Gold's Greenstone Gold mine project is scheduled for full production by the first half of 2024.

Equinox Gold_Mine Construction_Pic 3
Construction at Equinox Gold's Greenstone site continued through winter 2023.

Equinox's goal is to achieve more than one million ounces of annual gold production from a pipeline of development and expansion projects. Equinox Gold's common shares are listed on the TSX and the NYSE American under the trading symbol EQX.

Further information about Equinox Gold's portfolio of assets and long-term growth strategy is available at www.equinoxgold.com or by email at ir@equinoxgold.com.

More information about the Company's methodology, risk assessment and climate action strategy is summarized in the Climate Action Report, which is available for download at www.EquinoxGold.com.

For more information:
Greg Smith, President & CEO
Rhylin Bailie, Vice President Investor Relations
Tel: +1 604-558-0560
Email: ir@equinoxgold.com

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Tags: Northern Ontario / Green Mining / Gold / All Articles