Granite Creek Underground Drilling Intersects High-Grade Gold Mineralization

Highlights include 16.0 g/t Au on 33.9m and 24.4 g/t Au on 14.6m

Reno, Nevada., August 3, 2022 /PRNewswire/ – i-80 GOLD CORP. (TSX: IAU) (NYSE: IAUX) (“i-80”, or the “Company”) is pleased to report continued positive results from the ongoing underground drilling program on the Company’s Granite Creek mine property (“granite stream” Where “the property“) situated in Humboldt County, Nevada.

The 2022 underground drilling program at Granite Creek is focused on delineating mineralization for mining and resource upgrading and expansion. In the upper parts of the mine, high-grade gold mineralization is being defined in the Otto/Adam Peak/Range Front horizons, while from the lower levels drilling is focused on defining mineralization in the Ogee area which should be the main area. in the near future (see Figure 1).

Highlight new underground drilling results from 2022:

  • 8.6 g/t Au on 10.3m (0.25 oz/ton Au over 33.7 feet) in hole iGU22-17 – Ogee Zone
  • 18.4 g/t Au on 9.1m (0.54 oz/tonne Au over 30.0 feet) in hole iGU22-18 – Otto area
  • 13.8 g/t Au on 5.7m (0.40 oz/ton Au over 18.8 feet) in hole iGU22-26 – Range Front Zone
  • 24.4 g/t Au on 14.6m (0.71 oz/tonne Au over 48.0 feet) in hole iGU22-30 – Adam’s Peak area
  • 26.4 g/t Au on 5.0m (0.77 oz/tonne Au over 16.4 feet) in hole iGU22-42 – Ogee Zone
  • 23.1 g/t Au on 5.0m (0.67 oz/tonne Au over 16.4 feet) in hole iGU22-43 – Ogee Zone
  • 16.0 g/t Au on 33.9m (0.47 oz/ton Au over 111.3 feet) in hole iGU22-45 – Ogee Zone

The Granite Creek underground zones will be included in a resource update following the 2022 program which is expected to include approximately 30,000 meters of drilling from both the surface, focused on the South Pacific zone, and the underground Ogee zones. , Otto and Adams Peak. Table 1 provides a complete summary of new results from the 2022 underground drilling program.

The company is currently extracting a bulk sample from the underground areas to deliver an initial 10,000 tonnes to Nevada Gold Mines’ near the Twin Creeks mine (see Figure 2) for metallurgical testing, in accordance with the processing agreement, which will allow the deposit to be developed and accelerated for continued operation.

“The drill program continues to define high-grade mineralization over substantial widths, particularly in the Ogee Zone which remains open to expansion at depth,” said Tyler Hilllead i-80 geologist.

The Granite Creek property is strategically located near Nevada Gold Mines’ The Turquoise Ridge and Twin Creeks mines at the northern end of the Battle Mountain-Eureka axis, at its intersection with the Getchell gold belt in Nevada. The high-grade mineralization occurs in a nearly identical geological setting to the multimillion-ounce Turquoise Ridge mine immediately to the north (see Figure 2); near a major regional fault (the Getchell Fault or Range Front) on the eastern edge of the large Osgood Mountains intrusive complex. The Granite Creek deposit remains open at depth and parallel to existing underground mining.

Table 1 – Summary of New 2022 Underground Drilling Assay Results


2022 Drill Results at Granite Creek, Estimated True Widths 60-90%

Drill ID

Area

Type

From (m)

to M)

Length (m)

Au (g/t)

iGU22-17

ogee

Heart

178.7

192.0

13.4

7.5

Incl.


Heart

181.1

191.4

10.3

8.6

iGU22-18

Otto

Heart

69.5

78.6

9.1

18.4

iGU22-19

Otto

Heart

51.5

53.3

1.8

5.2

iGU22-20

ogee

Heart

190.0

193.2

3.3

9.1

And

Otto

Heart

308.8

312.7

4.0

8.3

And

Adam’s Peak

Heart

331.8

334.1

2.3

5.3

And

Adam’s Peak

Heart

342.4

345.3

2.9

8.2

And

Front end

Heart

352.3

353.3

1.0

17.9

iGU22-21

Otto

Heart

Lost hole before the target

NSI

iGU22-22

Otto

Heart

64.0

64.9

0.9

6.0

iGU22-23

Front end

Heart

48.2

49.2

1.0

7.5

iGU22-24

ogee

Heart

144.2

147.2

3.0

19.8

iGU22-25

Otto

Heart




NSI

iGU22-26

Otto

Heart

59.4

61.6

2.1

11.1

And

Front end

Heart

111.3

117.0

5.7

13.8

Incl.


Heart

111.3

113.9

2.6

23.4

iGU22-27

ogee





NSI

iGU22-28

Otto

Heart

26.8

28.7

1.8

8.8

And

Adam’s Peak

Heart

72.8

75.9

3

7.4

And

Front end

Heart

104.8

107.8

3.0

4.9

And

Front end

Heart

115.5

116.6

1.1

19.5

iGU22-29


Heart




NSI

iGU22-30

line hole

Heart

91.1

94.9

3.7

7.8

And

line hole

Heart

98.0

99.2

1.2

6.8

And

ogee

Heart

155.8

158.8

3.0

27.9

And

Otto

Heart

251.0

258.0

7.0

7.0

And

Adam’s Peak

Heart

296.9

311.5

14.6

24.4

iGU22-31

Otto

Heart




NSI

iGU22-32

Otto

Heart




NSI

iGU22-33

Front end

Heart

78.6

82.4

3.8

5.7

And

Front end

Heart

101.5

103.0

1.5

7.9

iGU22-34

Otto

Heart




NSI

iGU22-35

Otto

Heart




NSI

iGU22-36

ogee

Heart

Lost hole before the target

NSI

iGU22-37

Otto

Heart




NSI

iGU22-38

Front end

Heart

82.6

84.0

1.4

8.3

iGU22-39

Front end

Heart

89.5

92.8

3.4

6.4

iGU22-40

Front end

Heart

92.9

93.9

1.0

3.9

iGU22-41


Heart

Trials pending

iGU22-42

ogee

Heart

177.7

182.7

5.0

26.4

iGU22-43

ogee

Heart

84.6

89.6

5.0

23.1

And

ogee

Heart

97.8

99.8

2.0

9.0

iGU22-43B


Heart

Trials pending

iGU22-44

ogee

Heart

175.6

181.1

5.5

12.3

And

ogee

Heart

195.7

197.3

1.6

20.0

And

ogee

Heart

205.0

206.5

1.6

12.9

iGU22-45

ogee

Heart

152.6

186.5

33.9

16.0

iGU22-46

ogee

Heart

281.3

283.9

2.6

39.5









Table 1a – Collar coordinates

UTM

Drill ID

Is M

North m

Altitude m

Azimuth

Soak

NAD83Zone 11

iGU22-17

478249

4554071

1453

326

-55

iGU22-18

478070

4554189

1388

010

-48

iGU22-19

478070

4554189

1388

351

-64

iGU22-20

478249

4554070

1453

340

-55

iGU22-21

478068

4554187

1387

240

-32

iGU22-22

478069

4554187

1387

289

-84

iGU22-23

478066

4554187

1388

273

-17

iGU22-24

478249

4554070

1453

336

-64

iGU22-25

478066

4554187

1388

273

-20

iGU22-26

478164

4554216

1400

290

-57

iGU22-27

478249

4554071

1453

349

-56

iGU22-28

478103

4554242

1415

331

-21

iGU22-29

478103

4554242

1415

331

-4

iGU22-30

478249

4554070

1453

329

-67

iGU22-31

478103

4554241

1415

321

-seven

iGU22-32

478102

4554241

1415

316

-19

iGU22-33

478103

4554243

1416

340

-5

iGU22-34

478103

4554243

1415

342

-13

iGU22-35

478103

4554243

1417

308

-seven

iGU22-36

478250

4554071

1453

342

-70

iGU22-37

478105

4554239

1415

308

-26

iGU22-38

478106

4554241

1416

319

6

iGU22-39

478102

4554242

1418

320

22

iGU22-40

478103

4554242

1418

326

26

iGU22-41

478250

4554071

1453

332

-51

iGU22-42

478251

4554071

1453

352

-50

iGU22-43

478250

4554070

1453

350

-63

iGU22-43B

478250

4554070

1453

345

-64

iGU22-44

478249

4554071

1453

358

-51

iGU22-45

478251

4554071

1454

003

-37

iGU22-46

478251

4554070

1453

005

-71

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 via ALS are subjected to standard preparation methods and assayed using Au-AA23 (Au; 30 g fire assay) and ME-ICP41 (35 element suite; 0.5 g Aqua Regia/ICP-AES). ALS also undertakes its own in-house 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 rigorous review of all results.

Qualified person

Tim George, PE, Director of Mining Operations, has reviewed the technical and scientific information contained in this press release and is a Qualified Person within the meaning of NI 43-101.

About i-80 Gold Corp.

i-80 Gold Corp. is a well-funded, Nevada-focused mining company with the goal of achieving mid-tier gold producer status through the development of multiple deposits within the company’s late-stage portfolio of properties with processing in i-80’s centralized grinding plant which includes an autoclave.

www.i80gold.com

Certain statements in this release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws, including, but not limited to, the expansion or mineral resources at Granite Creek and the potential of the Granite Creek project. These statements and information involve known and unknown risks, uncertainties and other factors that could cause the actual results, performance or achievements of the company, its projects or the results of the industry to be materially different from expressed or implied future results, performance or achievement. by such forward-looking statements or information. These statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”. “, “anticipates”, “estimates”, “expects”, “plans”, “predicts” and other similar terms, or state that certain actions, events or results “could”, “could”, “would”, ” could” or “would” be taken, occur or be achieved. These statements reflect the Company’s current expectations regarding future events, performance and results and speak only as of the date of this release.

Forward-looking statements and information involve significant risks and uncertainties, should not be construed as guarantees of future performance or results, and will not necessarily be accurate indicators of whether or not those results will be achieved. A number of factors could cause actual results to differ materially from results discussed in any forward-looking statements or information, including, but not limited to: material adverse changes, unexpected changes in laws, rules or regulations , or their application by the competent authorities; the failure of parties to contracts with the Company to perform as agreed; social or labor unrest; changes in commodity prices; and the failure of exploration programs or studies to produce anticipated results or results that would justify and support continued exploration, studies, development or mining.

SOURCE i-80 Gold Corp

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