i-80 Gold Intersects High-Grade Gold in Granite Creek Underground Drill Program

Including 28.2 g/t Au on 17.8m39.0 g/t Au on 9.5 meters & 20.1 g/t Au on 21.1m

RENO, Nev., November 1, 2022 /CNW/ – i-80 GOLD CORP. (TSX: IAU) (NYSE: IAUX) (“i-80”, or the “Company”) is pleased to report additional high-grade results from the 2022 underground drilling program on the Company’s Granite Creek property (“granite stream“or the”Property“) situated in Humboldt County, Nevada.

One of the main objectives of the 2022 program was to carry out delineation and expansion drilling of the Ogee zone, which should provide the bulk of the mineralization to be mined over the next twelve months. This drilling focused on the area between the lower level of the mine workings and the deepest hole drilled by i-80 to date, designed to test the depth extension of the Ogee Zone of iGS21-15, which intersected several high-grade mineralized horizons, including 13.3 g/t Au on 13.1m20.3 g/t Au on 7.5 meters and 10.1 g/t Au over 17.5 m (See Figure 1).

Key results from new underground drilling at Granite Creek include:

  • 10.7 g/t Au on 7.0m (0.31 oz/ton Au over 23.0 ft) – iGU22-43B

  • 28.2 g/t Au on 17.8m (0.82 oz/ton Au over 58.3 ft) – iGU22-47

  • 16.3 g/t Au on 7.6m (0.48 oz/ton Au over 25.0 ft) – iGU22-50

  • 49.0 g/t Au on 1.1m (1.41 oz/ton Au over 3.6 ft) & 65.4 g/t Au over 1.6m (1.91 oz/tonne Au over 5.3 feet) – iGU22-51

  • 39.0 g/t Au on 9.5 meters (1.14 oz/ton Au over 31.1 ft) & 11.9 g/t Au over 2.7m (0.35 oz/tonne Au over 8.7 feet) – iGU22-52

  • 20.1 g/t Au on 21.1m (0.59 oz/ton Au over 69.3 ft) & 23.2 g/t Au over 4.7m (0.68 oz/tonne Au over 15.3 feet) – iGU22-53

Several levels have been developed on the Ogee zone and the company continues to extend the decline to depth, with the aim of initiating access to the new South Pacific zone which is located immediately below and to the north of the underground mine workings.

“Drilling at the Ogee Zone continues to intercept impressive high-grade mineralization over substantial widths,” said Tyler Hill, i-80’s lead geologist. “Results to date have demonstrated that the Ogee Zone is composed primarily of oxide mineralization, amenable to non-refractory processing. The Ogee and South Pacific Zones remain open at depth, providing a substantial advantage.”

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 (See figure 2). The high-grade mineralization occurs in a nearly identical geological setting to the multimillion-ounce Turquoise Ridge mine immediately to the north; 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 underground drilling assay results

New 2022 drill results at Granite Creek

Estimated actual widths 50-70%

Drill ID

Area

Type

From (m)

to M)

Length (m)

Au (g/t)

iGU22-43B

ogee

Heart

86.3

93.3

7.0

10.7

And

ogee

Heart

185.9

188.4

2.4

11.1

iGU22-47

ogee

Heart

295.9

313.6

17.8

28.2

And

ogee

Heart

345.0

349.0

4.0

6.1

iGU22-48

ogee

Heart

171.6

172.9

1.2

6.3

And

ogee

Heart

192.9

194.5

1.5

8.0

iGU22-49

Otto

Heart

126.7

128.0

1.3

10.9

iGU22-50

Otto

Heart

164.7

165.8

1.1

45.5

And

Adam’s Peak

Heart

173.3

180.9

7.6

16.3

And

Front end

Heart

224.1

227.4

3.3

8.9

iGU22-51

Otto

Heart

96.8

97.5

0.7

15.6

And

Otto

Heart

101.4

102.5

1.1

49.5

And

Adam’s Peak

Heart

150.5

152.1

1.6

65.4

iGU22-52

ogee

Heart

224.0

233.5

9.5

39.0

And

Adam’s Peak

Heart

397.3

400.0

2.7

11.9

iGU22-53

ogee

Heart

157.8

178.9

21.1

20.1

And

ogee

Heart

183.8

185.4

1.6

17.2

And

ogee

Heart

191.3

196.0

4.7

23.2

And

Adam’s Peak

Heart

332.1

334.1

2.0

11.8

iGU22-54

ogee

Heart

Lost hole at 79 m

iGU22-55

ogee

Heart

77.5

78.8

1.3

14.3

Table 1a

Necklace coordinates

NAD83 area
11 MTU

Drill ID

Is M

North m

Altitude m

Azimuth

Soak

iGU22-43B

478173

4554232

1453

345

-63

iGU22-47

478250

4554070

1453

348

-74

iGU22-48

478250

4554070

1453

317

-48

iGU22-49

278208

4554253

1445

280

-47

iGU22-50

478202

4554257

1445

280

-72

iGU22-51

478203

4554256

1445

280

-58

iGU22-52

478250

4554070

1454

005

-62

iGU22-53

478249

4554070

1454

338

-64

iGU22-54

478250

4554071

1454

341

-36

iGU22-55

478250

4554070

1454

341

-61

Figure 1 – Cross-sectional view of the Ogee Zone (CNW Group/i-80 Gold Corp)

Figure 2 – Property location map (CNW Group/i-80 Gold Corp)

Figure 2 – Property location map (CNW Group/i-80 Gold Corp)

QAQC procedures

All samples were submitted to either American Assay Laboratories (AAL) or ALS Minerals (ALS) Sparks, NV, which are ISO 9001 and 17025 certified and accredited laboratories, independent of the Company. Samples submitted via AAL and ALS are subjected to standard preparation methods and analyzed using FA-Pb30-ICP (Au; 30 g fire assay; AAL) and Au-AA23 (Au; 30 g fire assay; ALS) and ME-ICP41 (35-item suite; 0.5g aqua regia/ICP-AES; ALS). AAL and ALS also undertake their 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

Tyler HillCPG-12146, senior 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 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 those 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”, “expects”, “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.

i-80 Gold Corp logo (CNW Group/i-80 Gold Corp)

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