Equinox Gold's Castle Mountain Accepted into FAST-41 Permitting Program
Equinox Gold (NYSE: EQX) announced that its Castle Mountain Mine Phase Two Project in California has been accepted into the FAST-41 federal permitting program. The program is designed to streamline environmental reviews and improve regulatory coordination, with federal permitting expected to complete by December 2026.
Based on the March 2021 Feasibility Study, Castle Mountain is projected to produce 200,000 ounces of gold annually over a 14-year mine life, totaling 3.2 million ounces. The project requires modifications to the approved Mine and Reclamation Plan and an updated Environmental Impact Statement due to increased land disturbance and water usage within the existing mine boundary.
Equinox Gold (NYSE: EQX) ha annunciato che il progetto Fase Due della miniera Castle Mountain in California è stato ammesso al programma federale di autorizzazione FAST-41. Il programma è pensato per snellire le valutazioni ambientali e migliorare il coordinamento normativo, con il completamento delle autorizzazioni federali previsto entro dicembre 2026.
Secondo lo Studio di Fattibilità di marzo 2021, Castle Mountain dovrebbe produrre 200.000 once d'oro all'anno per una vita utile della miniera di 14 anni, per un totale di 3,2 milioni di once. Il progetto richiede modifiche al Piano di Miniere e Ripristino approvato e un aggiornamento della Dichiarazione di Impatto Ambientale a causa dell'aumento del disturbo del suolo e dell'uso di acqua all'interno dei confini esistenti della miniera.
Equinox Gold (NYSE: EQX) anunció que su proyecto Fase Dos de la mina Castle Mountain en California ha sido aceptado en el programa federal de permisos FAST-41. El programa está diseñado para agilizar las revisiones ambientales y mejorar la coordinación regulatoria, y se espera que el proceso de permisos federales finalice para diciembre de 2026.
Según el Estudio de Factibilidad de marzo de 2021, se proyecta que Castle Mountain produzca 200.000 onzas de oro anuales durante una vida útil de la mina de 14 años, con un total de 3,2 millones de onzas. El proyecto requiere modificaciones al Plan de Mina y Rehabilitación aprobado y una Declaración de Impacto Ambiental actualizada debido al aumento de la perturbación del terreno y del uso de agua dentro del límite existente de la mina.
Equinox Gold (NYSE: EQX)는 캘리포니아에 있는 Castle Mountain 광산 2단계 프로젝트가 연방 허가 프로그램인 FAST-41에 승인되었다고 발표했습니다. 이 프로그램은 환경 심사를 간소화하고 규제 조정을 개선하기 위해 설계되었으며, 연방 허가 절차는 2026년 12월까지 완료될 것으로 예상됩니다.
2021년 3월 타당성 조사에 따르면 Castle Mountain은 연간 20만 온스의 금을 14년의 광산 수명 동안 생산하여 총 320만 온스를 생산할 것으로 예상됩니다. 이 프로젝트는 기존 광산 경계 내에서 토지 교란과 물 사용이 증가함에 따라 승인된 광산 및 복구 계획의 수정과 업데이트된 환경영향평가서가 필요합니다.
Equinox Gold (NYSE: EQX) a annoncé que son projet Phase Deux de la mine Castle Mountain en Californie a été accepté dans le programme fédéral d'autorisation FAST-41. Le programme vise à simplifier les évaluations environnementales et améliorer la coordination réglementaire, les autorisations fédérales devant être achevées d'ici décembre 2026.
Selon l'étude de faisabilité de mars 2021, Castle Mountain devrait produire 200 000 onces d'or par an sur une durée de vie de la mine de 14 ans, soit un total de 3,2 millions d'onces. Le projet nécessite des modifications du plan d'exploitation et de remise en état approuvé ainsi qu'une mise à jour de l'étude d'impact environnemental en raison de l'augmentation des perturbations des sols et de l'utilisation de l'eau à l'intérieur de la limite actuelle de la mine.
Equinox Gold (NYSE: EQX) gab bekannt, dass sein Phase-Two-Projekt der Castle Mountain Mine in Kalifornien in das bundesweite Genehmigungsprogramm FAST-41 aufgenommen wurde. Das Programm soll Umweltprüfungen straffen und die behördliche Koordinierung verbessern, wobei die bundesstaatlichen Genehmigungen voraussichtlich bis Dezember 2026 abgeschlossen sein werden.
Basierend auf der Machbarkeitsstudie vom März 2021 wird erwartet, dass Castle Mountain jährlich 200.000 Unzen Gold über eine Lebensdauer der Mine von 14 Jahren produziert, insgesamt 3,2 Millionen Unzen. Das Projekt erfordert Änderungen am genehmigten Bergbau- und Rekultivierungsplan sowie eine aktualisierte Umweltverträglichkeitsprüfung aufgrund erhöhter Bodenstörungen und Wasserverwendung innerhalb der bestehenden Bergwerksgrenzen.
- Project acceptance into FAST-41 program expected to reduce permitting timeline
- Significant production potential of 200,000 ounces of gold annually
- Long mine life of 14 years with total production of 3.2 million ounces
- Project located in tier-one jurisdiction (California)
- Increased land disturbance and water usage requiring additional environmental approvals
- Current mining operations limited to re-leaching procedures while awaiting permits
- Permitting process extends until December 2026 before potential construction
Insights
Equinox Gold's Castle Mountain project gains FAST-41 status, creating regulatory certainty with expected permitting completion by December 2026.
Equinox Gold's announcement regarding Castle Mountain's acceptance into the FAST-41 program represents a significant regulatory milestone that reduces permitting uncertainty for this cornerstone growth project. The federal permitting process now has a defined timeline with completion expected by December 2026, providing crucial visibility for project planning and potential construction decisions.
The Castle Mountain Phase Two expansion is substantial, with the 2021 Feasibility Study projecting
The FAST-41 designation offers three key advantages: streamlined environmental reviews, improved coordination between regulatory agencies, and enhanced transparency throughout the permitting process. For mining projects in the U.S., where permitting delays can extend timelines by years and increase costs substantially, this designation provides material de-risking.
Management has strategically initiated study updates and optimization work to align with this newly defined permitting timeline, suggesting a coordinated approach to development. The project requires modifications to the approved Mine and Reclamation Plan and an updated Environmental Impact Statement due to increased land disturbance and water usage, though operations will remain within the existing approved mine boundary.
The company's decision to advance Castle Mountain while the site performs re-leaching procedures demonstrates efficient resource utilization during this transition period. With Castle Mountain approximately 200 miles from Equinox's Mesquite Mine, there may also be operational synergies between these California assets that could enhance the project economics beyond what was outlined in the 2021 Feasibility Study.
Vancouver, British Columbia--(Newsfile Corp. - August 11, 2025) - Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) is pleased to announce that its Castle Mountain Mine Phase Two Project ("Castle Mountain") in California has been accepted into the United States Federal Permitting Improvement Steering Council's FAST-41 program. FAST-41 is a federal permitting framework designed to streamline environmental reviews, improve interagency coordination, and increase transparency. Acceptance into the program is expected to enhance regulatory certainty through a defined permitting schedule that may reflect reduced permitting timelines. Based on the permitting timeline posted to the FAST-41 project dashboard (see link) on August 8, 2025 the federal permitting process should be completed in December 2026.
Darren Hall, CEO of Equinox Gold, stated: "Castle Mountain is a high-quality growth opportunity for Equinox Gold in a tier-one jurisdiction. Based on the March 2021 Feasibility Study, the project is expected to produce approximately 200,000 ounces of gold annually over a 14-year mine life, totaling 3.2 million ounces. With FAST-41 permitting status in place we've initiated study updates and project optimization to align with the permitting timeline and position the project for a timely construction decision. Once in production Castle Mountain will be a cornerstone asset, reinforcing our strategy of building a portfolio of long-life, low-cost mines in top-tier jurisdictions."
Castle Mountain is located in San Bernardino County, California, approximately 200 miles north of Equinox Gold's Mesquite Mine. Equinox Gold acquired Castle Mountain in December 2017 and operated a small open-pit heap leach gold mine from Q4 2020 to Q3 2024. The mine is currently performing re-leaching procedures while the Company advances permitting, engineering and optimization work. While the project is expected to operate within the existing approved mine boundary, the changes to previously analyzed effects, such as increased land disturbance within the mine boundary and increased water use, require modification to the Company's approved Mine and Reclamation Plan and an updated Environmental Impact Statement / Environmental Impact Report.
The technical information contained in this news release was approved by David Schonfeldt, P. Geo., VP Mining Geology for Equinox Gold and a "Qualified Person" under National Instrument 43-101.
About Equinox Gold
Equinox Gold (TSX: EQX) (NYSE American: EQX) is a Canadian mining company positioned for growth with a strong foundation of high-quality, long-life gold operations in Canada and across the Americas, and a pipeline of development and expansion projects. Founded and chaired by renowned mining entrepreneur Ross Beaty and guided by a seasoned leadership team with broad expertise, the Company is focused on disciplined execution, operational excellence and long-term value creation. Equinox Gold offers investors meaningful exposure to gold with a diversified portfolio and clear path to growth. Learn more at www.equinoxgold.com or contact ir@equinoxgold.com.
Equinox Gold Contact
Ryan King
Senior Vice President, Capital Markets and Strategy
T: 778.998.3700
E: Ryan.King@equinoxgold.com
E: ir@equinoxgold.com
Cautionary Notes & Forward-looking Statements
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation and may include future-oriented financial information or financial outlook information (collectively "Forward-looking Information"). Forward-looking Information in this news release relates to, among other things: the strategic vision for the Company and expectations regarding exploration potential, production capabilities, future financial or operating performance and expansion projects ,including development of Castle Mountain Phase 2, receipt of required approvals and permits, and effectiveness of the Fast-41 Program. Forward-looking Information is generally identified using words like "will", "forward", "achieve", "strategy", "grow", "expect", and similar expressions and phrases or statements that certain actions, events or results "may", "could", or "should", or the negative connotation of such terms, are intended to identify Forward-looking Information. The Company has based Forward-looking Information on the Company's current expectations and projections about future events and these assumptions include: ability to achieve production, cost and development expectations for its operations and projects, including Castle Mountain Phase 2; prices for gold remaining as estimated; availability of funds for the Company's projects and future cash requirements; While the Company considers the expectations and assumptions to be reasonable based on information currently available, they may prove to be incorrect. Accordingly, readers are cautioned not to put undue reliance on the forward-looking statements or information contained in this news release.
Forward-looking Information involves numerous risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such Forward-looking Information. Such factors include those described in the section "Risk Factors in the Company's MD&A dated March 13, 2025 for the year ended December 31, 2024, and in the section titled "Risks Related to the Business" in Equinox Gold's most recently filed Annual Information Form which is available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar. Forward-looking Information reflects management's current expectations for future events and is subject to change. Except as required by applicable law, the Company assumes no obligation to update or to publicly announce the results of any change to any Forward-looking Information contained or incorporated by reference to reflect actual results, future events or developments, changes in assumptions or other factors affecting Forward-looking Information. If the Company updates any Forward-looking Information, no inference should be drawn that the Company will make additional updates with respect to those or other Forward-looking Information. All Forward-looking Information contained in this news release is expressly qualified by this cautionary statement.
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FAQ
When will Equinox Gold's Castle Mountain Phase Two Project complete its federal permitting process?
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What is FAST-41 and how does it benefit Equinox Gold's Castle Mountain project?
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What modifications are required for the Castle Mountain Phase Two Project?
