I-80 Gold Corp. Provides Progress Update on Its New Development Plan

Published: 2025-07-08 08:51:19 ET IAU.TO

Published on 07/08/2025 at 08:51

i-80 Gold Corp. provided 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.

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. This sequential approach to permitting expedites mining while simultaneously pursuing remaining permits for the lower section. Surface infrastructure for the external portal has been completed, and the initial development of the underground exploration drift is anticipated to commence shortly.

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 20 26. Archimedes is expected to begin contributing to production in late-2026 to early-2027. 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.

one quarter later than originally targeted in the development plan to accommodate additional metallurgical test work. 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). i-80 is actively advancing major permit applications with the goal of aligning regulatory approvals with planned development timelines.

Permitting work is in the initial stages and advancing as expected. 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.

The results are expected to support the mine design and metallurgical studies as part of advancing the project toward the next stage of technical evaluation. Following the release of a PEA in the first quarter of 2025, strategic evaluations are underway to determine optimal timing of a pre-feasibility or feasibility-level study.