On December 14, 2025, Equinox Gold Corp. has agreed to sell its complete interest in the Aurizona Mine, RDM Mine, and Bahia Complex in Brazil to a CMOC Group subsidiary for total consideration of US$1.015 billion (approximately C$1.40 billion). The transaction structure includes upfront cash of US$900 million (approximately C$1.24 billion) at closing, subject to customary adjustments, and a production-linked contingent payment of up to US$115 million (approximately C$159 million) payable one year after closing. The contingent consideration is calculated as 12.5 percent of revenue for production between 200,000 and 280,000 ounces, or the full US$115 million if production equals or exceeds 280,000 ounces. Closing is expected in the first quarter of 2026, subject to regulatory approvals and customary conditions, with no financing contingencies. Equinox Gold will use proceeds to fully repay its US$500 million (approximately C$690 million) Term Loan and US$300 million (approximately C$414 million) Sprott Loan while reducing its revolving credit facility. BMO Capital Markets served as financial advisor to Equinox Gold and provided a fairness opinion.

Blake, Cassels & Graydon LLP and Veirano Advogados acted as legal counsel to Equinox Gold in Canada and Brazil, respectively. Canaccord Genuity Corp. served as financial advisor to CMOC Group, with McCarthy Tétrault LLP and Mattos Filho providing legal counsel in Canada and Brazil, respectively.