i-80 Gold Closes Gold Prepayment Facility for up to $250 Million; Completes Recapitalization Establishing a Fully Funded Development Plan

i-80 Gold Corp has successfully closed a $250 million gold prepayment facility with National Bank of Canada and Macquarie Bank Limited, marking the completion of an ambitious recapitalization strategy that has secured over $1 billion in capital since early 2025. The facility includes an initial $150 million advance requiring delivery of 39,978 ounces of gold over 30 months beginning January 2028, plus a $100 million accordion feature available through first half 2027.

This financing represents the final component of a comprehensive capital raising program that included $184 million in equity proceeds, a $250 million Franco-Nevada royalty deal, $287.5 million in convertible notes, and now the gold prepayment facility. The combined package positions i-80 Gold to fully fund its Phase 1 and Phase 2 development plan through 2031, encompassing three underground projects (Granite Creek, Archimedes, and Cove), one open pit operation, and refurbishment of the centralized Lone Tree processing facility.

The strategic significance extends beyond mere project financing, as this capital structure is designed to transform i-80 Gold from a sub-50,000 ounce producer into a mid-tier operator targeting 300,000-400,000 ounces annually by 2031. The company's Nevada-focused portfolio represents the fifth largest gold resource position in the state, strategically positioned within prolific gold-producing trends that benefit from established infrastructure and favorable jurisdiction.

Looking forward, the robust financing position provides operational flexibility to accelerate infill drilling and engineering studies for the Phase 3 Mineral Point project, potentially optimizing development timelines. The completion ahead of the mid-2026 target demonstrates management's execution capabilities and positions the company to capitalize on current favorable gold market conditions while maintaining financial stability through the development phase.