i-80 Gold Reports High-Grade Assay Results at Archimedes Underground Project Including 24.6 g/t Au over 23.6 meters; Development Advancing on Schedule

i-80 Gold Corp has announced significant high-grade assay results from its ongoing drilling campaign at the Archimedes Underground Project, located on the Ruby Hill property in northeastern Nevada. The standout result includes 24.6 g/t Au over 23.6 meters, demonstrating the continued strength of mineralization at the project. The company commenced construction of Archimedes, its second underground project, in Q3 2025 and remains on schedule for first gold production in Q3 2026.

The drilling results confirm mineralization in the Upper Archimedes zone and demonstrate continuity beyond the boundaries of the current mineral resource estimate. As of December 31, 2025, Archimedes hosts indicated gold resources of 436,000 ounces at 7.6 g/t and inferred resources of 988,000 ounces at 7.3 g/t. The infill drilling program has completed 7,500 meters over 35 holes, with results consistently showing high-grade mineralization throughout Upper Archimedes.

A significant development is the discovery of substantial oxide mineralization intervals that were not included in the 2025 Preliminary Economic Assessment. Given current gold prices and the presence of an operating heap leach pad, the company is evaluating integrating this oxide material into the mine plan, which could provide meaningful low-cost economic ounces in the near-term. Development footage has exceeded plan with approximately 1,200 meters completed by end of Q1 2026.

Looking ahead, the company plans an extensive infill drilling program targeting approximately 55,000 meters over 140 holes in Lower Archimedes beginning in Q2 2026. Results from both Upper and Lower Archimedes drilling will support a new mineral resource estimate and feasibility study expected in Q1 2027. The updated resource is anticipated to include approximately 60,000 meters of drilling, primarily focused on upgrading inferred resources and defining reserves for an approximate 10-year mine life with average annual gold output of 100,000 ounces.