Including 31.1 g/t Au over 21.9 m, 28.7 g/t over 16.5 m, 37.7 g/t Au over 7.6 m & 11.9 g/t Au over 21.6 m

i-80 GOLD CORP. (TSX: IAU) (NYSE: IAUX) is pleased to announce high-grade results from the ongoing 2023 underground drill program that is targeting mineralization in the upper part of the South Pacific Zone at the Company’s Granite Creek Property located in Humboldt County, Nevada.

The 2023 surface and underground drilling campaign is focused on the delineation and expansion of mineralization within the South Pacific Zone, and the conversion of some of the deposit to Measured and Indicated resource classification. The SPZ is located immediately north of the Ogee Zone and the current mine workings, and is expected to become the primary zone for mining once developed in 2024.  Mining of initial stopes is being planned for H1-2024 once mine workings are extended to provide access.

The underground drill program is focused on the upper part of the deposit, where initial mining is planned, while surface drilling is currently targeting the northern extension where drilling is also defining high-grade mineralization with recent results that include intervals of up to 15.5 g/t Au over 19.7 m in iGS23-05 (See Figure 1). Prior to hole GCPU23-19, underground drilling was completed in the current areas being mined in the Ogee Zone and subsequent drilling is focused on the SPZ. The initial results include some of the best results received to-date in the South Pacific Zone.

Highlight results from new underground drilling in the South Pacific Zone at Granite Creek include:

• GCPU23-19: 16.9 g/t Au over 5.7 m
• GCPU23-20: 37.7 g/t Au over 7.6 m
• GCPU23-21: 19.2 g/t Au over 4.3 m
• GCPU23-22: 31.1 g/t Au over 21.9 m
• GCPU23-25: 27.3 g/t Au over 4.0 m
• GCPU23-26: 19.5 g/t Au over 4.1 m
• GCPU23-30: 28.7 g/t Au over 16.5 m and 11.9 g/t Au over 21.6 m
• GCPU23-31: 20.6 g/t Au over 6.1 m
• GCPU23-32: 15.4 g/t Au over 7.9 m and 31.0 g/t Au over 2.4 m

“Both surface and underground drilling in the South Pacific Zone confirm impressive high-grade gold mineralization, including over substantial widths.”, stated Tyler Hill, Senior Geologist of i-80. “It is expected to become the primary source of mineralization at Granite Creek beginning in mid-2024 and is comprised primarily of refractory mineralization that will be processed initially at Nevada Gold Mines’ Twin Creeks complex pursuant to our processing agreement. The South Pacific Zone remains open along strike to the north and at depth, providing considerable upside.”

The Granite Creek Property is strategically located proximal to Nevada Gold Mines’ Turquoise Ridge and Twin Creeks mines at the north end of the Battle Mountain-Eureka Trend, at its intersection with the Getchell gold belt in Nevada (See Figure 2). High-grade mineralization occurs in a near-identical geological setting as the multi-million-ounce Turquoise Ridge Mine located immediately to the north; proximal to a major regional fault (the Getchell or Range Front fault) on the eastern edge of the large Osgood Mountains intrusive complex. The Granite Creek deposit remains open at depth and along strike.

Table 1 – Summary Assay Results from South Pacific Zone Underground Drilling

QAQC Procedures

All samples were submitted to ALS Minerals of Sparks, NV, which is an ISO 9001 and 17025 certified and accredited laboratory, independent of the Company. Samples submitted through ALS are run through standard prep methods and analysed using Au-AA23 (Au; 30g fire assay). ALS also undertakes their own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. i-80 Gold Corp’s QA/QC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results.

Qualified Person

Tyler Hill, CPG-12146, Chief Geologist, reviewed the technical and scientific information contained in this press release and is a Qualified Person within the meaning of NI 43-101.

About i-80 Gold Corp.

i-80 Gold Corp. is a Nevada-focused, mining company with a goal of achieving mid-tier gold producer status through the development of multiple deposits within the Company’s advanced-stage property portfolio with processing at i-80’s centralized milling facilities.

Figure 1 – Long Section View of the Granite Creek Deposit (CNW Group/i-80 Gold Corp)

Figure 2 – Property Location Map (CNW Group/i-80 Gold Corp)