Another 615 people were injured, with 299 still in hospital.
The blasts hit a military base in the country's main city, Bata. Officials blame badly stored dynamite along with stubble burning by nearby farmers.
The death toll, updated after volunteers spent Monday searching the wreckage for bodies, is more than triple the initial estimate of 31.
Three young children were found alive and taken to hospital.
Almost all buildings and homes in the city suffered "huge damage", President Teodoro Obiang Nguema said.
