i-80 Gold Provides Progress Update on its New Development Plan
RENO, Nev., July 8, 2025 – i-80 GOLD CORP. (TSX: IAU) (NYSE American: IAUX) (‘i-80’ or the ‘Company’) is pleased to provide an update on the progress of its new development plan, which outlines a path for advancing the Company’s Nevada gold projects and creating a mid-tier gold producer. As part of the new development plan, the Company released Preliminary Economic Assessments (PEAs) in the first quarter of 2025 for five projects, and continues to advance permitting, technical, and development work on these projects.
“We are making steady progress in laying the groundwork to bring i-80’s industry-leading pipeline of high-grade projects into production over the coming years,” stated Paul Chawrun, Chief Operating Officer of i-80 Gold. “Drilling is underway across several key properties as we prepare for upcoming feasibility studies, in addition to optimization work for the Lone Tree refurbishment study. At the same time, permitting efforts continue to gain momentum across our new projects, which we believe will help to de-risk our development pipeline.”
Granite Creek Underground
Granite Creek Underground, i-80’s first gold operation, continues to progress ramp-up activities toward steady state production. The implementation of a predictive hydrogeological model completed in the first quarter has enabled a more proactive dewatering of underground workings. The model has guided the management of mine contact water and the installation of permanent underground dewatering infrastructure planned through the remainder of the year, including additional surface wells and the installation of an expanded water treatment plant.
Infill drilling of the South Pacific Zone has commenced from both surface and underground following the completion of the underground exploration drift in the second quarter. The infill campaign is expected to drill more than 40 holes for approximately 14,000 meters of core. In addition, a feasibility study is now underway, targeting completion in the first quarter of 2026, one quarter later than originally intended due to a delayed start to drilling. This feasibility study will incorporate an updated mineral resource estimate reflecting results from the current drill program.
Lone Tree Autoclave Processing Facility
Optimization of Lone Tree feasibility work is currently underway in collaboration with Hatch Ltd., building on the internal feasibility study completed in 2023. The updated feasibility study for the facility’s refurbishment will incorporate value engineering initiatives and updated cost estimates to support an improved execution strategy. Completion of the revised feasibility study is targeted for the fourth quarter of 2025.
Lone Tree’s existing processing facility is permitted, with the only additional permits and renewals required in the normal course being for the processing and environmental controls included in the refurbishment plan. Lone Tree is one of three autoclave facilities in Nevada, and a strategic asset in unlocking value from i-80’s three underground deposits by providing an owner-operated processing facility for the Company’s high-grade underground refractory material.
Archimedes Underground – Ruby Hill Property
At Archimedes, i-80’s second planned underground mine, the final stages of permitting are nearing completion, with approval for advancement expected in the third quarter of 2025.
Initial infill drilling of the upper zone is scheduled to begin from underground in the fourth quarter of 2025, followed by underground infill drilling of the lower zone planned in the first quarter of 2026. The upper zone will be the first to be mined as it is located above the 5100-foot elevation. Results from the infill drilling will be included in a feasibility study targeting completion in the first half of 2027. Archimedes is expected to begin contributing to production in late-2026 to early-2027.
Cove Underground
At Cove, the Company’s third planned underground mine, infill drilling has been completed, and feasibility-level work is underway with feasibility study completion targeted for the first quarter of 2026.
National Environmental Policy Act (NEPA) permitting activities are also underway with the Bureau of Land Management (BLM) in anticipation of an Environmental Impact Statement (EIS). Cove is expected to begin contributing to company-wide production in mid-2029.
Granite Creek Open Pit
Following the release of the Granite Creek Open Pit PEA, technical work is underway to advance the project toward either a pre-feasibility or a feasibility-level study. Granite Creek Open Pit has the potential to contribute to company-wide production by the end of the decade.
Mineral Point Open Pit – Ruby Hill Property
Mineral Point, an oxide heap leach project, is an earlier stage project within i-80’s portfolio of assets. Mineral Point has the potential to become the Company’s largest producing asset and is expected to provide the biggest step change in company-wide production starting the second half of 2031.
Qualified Persons
All scientific and technical information contained in this press release has been reviewed, verified and compiled under the supervision of Paul Chawrun, P.Eng., and Tyler Hill, CPG., each of whom is a “Qualified Person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects and S-K 1300 and Subpart 1300 of Regulation S-K under the U.S. Securities Act of 1933, as amended.
About i-80 Gold Corp.
i-80 Gold Corp. is a Nevada-focused mining company committed to building a mid-tier gold producer through a new development plan to advance its high-quality asset portfolio. The Company is the fourth largest gold mineral resource holder in the state with a pipeline of high-grade exploration projects advancing towards feasibility and one operating project ramping-up toward steady state, all strategically located in Nevada’s most prolific gold-producing trends.
Cautionary Statement Regarding Forward-Looking Information
Certain statements in this release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws, including but not limited to statements pertaining to the Company’s future plans and operations; the perceived merit of projects or deposits; the impact, timing, and execution of the Company’s new development plan; the anticipated timing of permitting, production, project development or completion dates for feasibility studies and technical studies; execution and timing of all asset advancements in the new development plan; the successful permitting of each project; the ability to further de-risk the development pipeline; the timing, completion and results of the Company’s drill programs; the inclusion of drill results in future feasibility studies; that any of the projects will reach commercial production; and the Company’s ability to achieve mid-tier production status.