Equinox Gold, Orla Mining Combine to Create Senior Gold Producer

VANCOUVER, British Columbia, May 13, 2026 (GLOBE NEWSWIRE) -- Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) (“Equinox”) and Orla Mining Ltd. (TSX: OLA, NYSE American: ORLA) (“Orla”, and together with Equinox, the “Companies”) are pleased to announce that the Companies have entered into a definitive arrangement agreement (the “Agreement”) for an at-market combination to create a new North American senior gold producer with approximately 1.1 million ounces i of expected annual gold production and an $18.5 billion implied market capitalization. The combined company will be anchored by three long-life Canadian gold mines, with a clear path to more than 1.9 million ounces ii of annual gold production from an internally funded North American growth pipeline. Pursuant to the Agreement, Equinox will acquire all of the issued and outstanding common shares of Orla pursuant to a court-approved plan of arrangement (the “Transaction”).

The combined company will continue under the name “Equinox Gold Corp.” (“Equinox Gold”). All dollar amounts are in United States dollars unless otherwise indicated. Equinox and Orla will host a conference call and webcast to discuss the Transaction commencing at 8:30 am Eastern Time on May 13, 2026.

Details are provided at the end of this news release. Under the terms of the Agreement, Orla shareholders will receive 1.00 Equinox common share (the “Exchange Ratio”) and a nominal cash payment of $0.0001 for each Orla common share held immediately prior to the effective time of the Transaction (the “Effective Time”). Upon completion of the Transaction, existing Equinox shareholders and former Orla shareholders will own approximately 67% and 33% of the outstanding common shares of the combined company, respectively, on a fully diluted in-the-money basis.

Strategic Rationale of the Transaction The combination of Equinox and Orla creates: North America’s new senior gold producer: 1.1 million ounces of expected annual gold production from a highly co