Results Include 24.1 g/t Gold over 14.0 m – 12.8 g/t Gold over 14.2 m – 9.6 g/t Gold over 22.8 m

i-80 GOLD CORP. (TSX: IAU) (NYSE: IAUX) is pleased to announce additional positive results from underground drilling at the Company’s 100%-owned McCoy-Cove Property located in Lander County, Nevada. The ongoing ~40,000 metre drill program is focused on upgrading resources in the Helen and CSD/Gap Zones in advance of completing an updated resource estimate and a full feasibility study.

Highlight results from recent 2023 drilling at Cove include:

• 12.8 g/t Au over 14.2 m, and 13.8 g/t Au over 7.6 m (iCHU23-05)
• 11.1 g/t Au over 3.1 m, and 24.1 g/t Au over 14.0 m, and 44.2 g/t Au over 2.1 m (iCHU23-07)
• 10.0 g/t Au over 3.6 m, and 20.0 g/t Au over 2.3 m, and 11.4 g/t Au over 7.9 m (iCHU23-08)
• 9.6 g/t Au over 22.8 m (iCHU23-09)

“The underground drilling program at Cove is focused on defining mineralization for ultimate mine planning.”, stated Tyler Hill, Chief Geologist of i-80 Gold. “The first nine holes drilled have demonstrated continuity of gold mineralization in the upper portion of the CSD Gap horizon, confirming Cove as one of the highest-grade development-stage gold deposits in North America.”

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 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-ICP61 (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)