Reno, Nevada, November 1, 2023 – i-80 GOLD CORP. (TSX:IAU) (NYSE:IAUX) (“i-80”, or the “Company”) reports its operating and financial results for the three and nine months ended September 30, 2023.

i-80’s Consolidated Interim Financial Statements (“financial statements”), as well as i-80’s Management’s Discussion and Analysis of Operations and Financial Condition (“MD&A”) for the three and nine months ended September 30, 2023, are available on the Company’s website at www.i80gold.com, on SEDAR at www.sedarplus.ca, and on EDGAR at www.sec.gov.

Unless otherwise stated, all amounts referred to herein are in U.S. dollars.

Highlights

Third Quarter

• Gold sales of 4,585 ounces at a realized gold price of $1,895¹.
• 16,059 tons of oxidized mineralized material sold for proceeds of $4.5 million.
• Commenced shipping of refractory stockpiles to a third party for processing.
• September 30 cash balance of $38 million and $44 million in restricted cash.
• Continued expansion of gold and polymetallic mineralization at Ruby Hill.
• Continued underground core drilling delineation of the CSD Gap and Helen zones at McCoy-Cove (16,789 feet).
• Continued drilling infill holes at South Pacific Zone at Granite Creek (16,144 feet).
• Completed the initial underground exploration drift at McCoy-Cove.
• Completed 3,329 feet of horizontal advance at Granite Creek.
• Completed an equity private placement for gross proceeds of $27.7 million.
• Completed additional financing by extending the Gold Prepay agreement with Orion for gross proceeds of $20 million.

Year to Date

• Gold sales of 11,262 ounces at a realized gold price of $1,924¹.
• Completed 2,644 feet of exploration ramp development at McCoy-Cove.
• Completed 5,481 feet of horizontal development at Granite Creek.
• 39,732 wet tons of mineralized material hauled from Granite Creek to third parties for processing under ore processing and toll milling agreements.
• A total of 162,033 feet (core and RC) drilled by the end of the third quarter with multiple positive results to expand mineralization further at Ruby Hill, Granite Creek, McCoy-Cove and the FAD project.

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 Ryan Snow, Chief Financial Officer of i-80 stated

“In the third quarter the Company continued to see impressive drill results from Ruby Hill and McCoy-Cove.

 

“In addition, the Company saw an increase in revenue gold ounces sold and tons of mineralized material sold under the Ore Purchase and Sale Agreement.

 

“This increase coupled with the completion of the Amended and Restated Gold Prepay Agreement positions the Company to continue to execute on it’s plans.

 

“We continue to advance exploration and definition drilling at Granite Creek, McCoy-Cove and Ruby Hill and permitting activities at our projects allowing the Company to advance our projects towards the ultimate goal of building a mid-tier Nevada focused producer.”