Results Include 18.9 g/t Gold 29.3 m and 14.9 g/t Gold over 32.7 m and 15.7 g/t Au over 22.5 m

i-80 GOLD CORP. (TSX: IAU) (NYSE: IAUX) is pleased to announce positive results from two additional underground drill holes at the Company’s 100%‑owned McCoy-Cove Property located in Lander County, Nevada. The new results include the best intercepts to date and continue to demonstrate continuity of high-grade mineralization in the CSD/Gap Zone.

Highlight results from recent 2023 drilling at Cove include:

• iCHU23-10:
  • 14.9 g/t Au over 32.7 m, including 22.8 g/t Au over 14.8 m
• iCHU23-11 :
  • 15.7 g/t Au over 22.5 m, including 21.8 g/t Au over 11.5 m
    and
  • 18.9 g/t Au over 29.3 m, including 27.8 g/t Au over 14.9 m

The ongoing program, expected to consist of approximately 40,000 metres of drilling, is being completed on 30 metre spacing in advance of an updated resource estimate and economic study related to the construction of mining operation at McCoy-Cove. This program is focused on the CSD/Gap and Helen Zone portions (Figures 1 & 2) of the deposit  which also includes mineralization below the pit in the Cove South Deep and 2201 deposits that are not being drilled as part of this program.

“Grades and widths continue to meet or exceed expectations and are consistently at or above the current resource grade.”, stated Tyler Hill, Chief Geologist of i-80 Gold. “With the Phase 1 underground decline nearing completion, the focus will shift entirely to the drill program, permitting and final mine approvals.”

Cove is one of three projects currently being advanced to realize the Company’s goal of becoming the second largest gold producer in Nevada. In addition to the underground drill program, the exploration and development program will also include the completion of the first phase of the underground decline and drift, and detailed hydrological and metallurgical test work in advance of completing a Feasibility Study following the underground definition drill program.

The ongoing infill and step-out drill program will aide in the advancement of the Company’s plan to develop an underground mine at Cove utilizing the current decline with material anticipated to be trucked to the Company’s Lone Tree facility, once operational, for processing in addition to Nevada Gold Mines pursuant to the processing agreement between the two companies. Following the underground drill program, i-80 plans to complete an updated mineral resource estimate and a Feasibility Study.

Cove is one of the Company’s primary assets and is host to a resource of:

Please click here for further information on abbreviations and conversions referenced in this press release.

QAQC Procedures

All samples were submitted to ALS Minerals (ALS) 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 (ALS) (Au; 30g fire assay) and ME-MS61 (35 element suite; 0.4g 4 acid/ICP-AES). 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 at i-80 is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 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 – 3D View of the Cove Deposit and Drill Program (CNW Group/i-80 Gold Corp)

Figure 2 – 3D Section View Gap Drill Program (CNW Group/i-80 Gold Corp)