Results Include 12.9 g/t Gold over 36.1 m & 13.0 g/t Au over 6.0 m

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

Highlight results from initial 2023 drilling at Cove include:

• 6.6 g/t Au over 6.0 m (iCHU23-01)
• 13.2 g/t Au over 3.0 m And 10.3 g/t Au over 7.8 m (iCHU23-02)
• 13.0 g/t Au over 6.0 m (iCHU23-03)
• 12.9 g/t Au over 36.1 m (iCHU23-04)

“Having not drilled the Cove deposit since 2018 as mine permitting was being advanced, many may have forgotten that it is one of the highest-quality deposits within i-80’s portfolio.”, stated Ewan Downie, CEO of i–80 Gold.  “Our early results in the CSD Gap Zone confirm high-grade mineralization that makes Cove 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 ongoing underground drill program, that is expected to comprise ~40,000 metres of drilling, the ongoing exploration and development program will also include hydrological and metallurgical test work in advance of completing a Feasibility Study following the underground definition drill program.

Table 1 – Highlight Assay Results from Cove Underground Drilling

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 ramp 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-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)