i-80 Gold Reports Lone Tree Plant Refurbishment on Schedule and on Budget, Targeting First Gold Pour by Year-End 2027

• Lone Tree Plant refurbishment remains on schedule and on budget, with 50% of procurement packages awarded and 40% of total project capital committed as of mid-July 2026.
• Demolition commenced in mid-June 2026, while engineering, procurement, staffing and early works continue to progress in line with the planned construction and commissioning schedule.
• Detailed engineering is approximately 30% complete, with several permits received and additional approvals pending ahead of construction activities in the second half of 2026.
• The refurbished Lone Tree Plant is designed to process approximately 2,250 tonnes per day, with annual throughput of approximately 825,000 tonnes, using integrated pressure oxidation (POX) and carbon-in-leach (CIL) circuits.
• Key milestones include construction commencing in the fourth quarter of 2026, the filtration plant's completion in the early fourth quarter of 2027, and the first gold pour targeted by year-end 2027.

Company Overview

i-80 Gold Corp. (NYSE: IAUX | TSX: IAU) is a Nevada-focused mining company advancing a fully funded 3-phase development plan across a portfolio of high-grade, multi-stage gold projects. The Company is the 5th largest gold mineral resource holder in Nevada, with projects located in the state's most prolific gold-producing trends. i-80 Gold is advancing a hub-and-spoke regional mining and processing strategy centred on its Lone Tree Complex central processing facility, with operating and development assets including Granite Creek Underground, Archimedes Underground, Cove Underground, Granite Creek Open Pit and Mineral Point Open Pit.

Project Status

i-80 Gold Corp. reports that the Lone Tree autoclave and carbon-in-leach (CIL) processing plant refurbishment remains on schedule and on budget, with early works and pre-construction readiness activities well underway on site. The engineering, procurement, and construction management (EPCM) contractor has been mobilised to site; demolition of existing plant components to be replaced has commenced; and detailed engineering, procurement packages, and the award of key contracts are advancing.

Approximately 50% of procurement packages, by value, have been awarded as of mid-July 2026, and project capital remains on budget with minimal contingency drawdown, with approximately 40% of total capital committed. Project costs incurred to date remain in line with the December 2025 engineering study and the Company's 2026 guidance of $140 million to $160 million in expenditures. The total capital cost estimate is $430 million, including a contingency of approximately 12%, owner's costs, and capital spares.

Executive Vice President and Chief Operating Officer of i-80 Gold Corp., Paul Chawrun,  commented:

"We have made excellent progress in advancing the Lone Tree Plant refurbishment as planned, since a construction decision was made in the first quarter of 2026. Engineering, procurement, staffing, early works activities, and demolition have all progressed as expected. The start of demolition marks an important project milestone, and we remain on schedule for commissioning in late 2027. We continue to view this refurbishment as a manageable, low-risk project with comparatively low labour hours and material costs. Hatch Ltd. began substantial engineering work approximately three years before commencement of the refurbishment. Additionally, we have an experienced management and owner's team with a strong track record in the construction, commissioning, and operation of autoclave facilities at some of Nevada's largest gold mines. Advancing the Plant refurbishment is a key step in executing our development plan and achieving our goal of creating a mid-tier gold producer."

About the Lone Tree Plant

The Lone Tree Plant is a legacy asset located in Nevada, immediately adjacent to Interstate 80, designed to serve as a centralised processing hub for the Company's underground gold projects. Based on 85% plant availability, the Plant is targeted to process approximately 2,250 tonnes per day with total annual throughput of approximately 825,000 tonnes. Using integrated pressure oxidation (POX) and CIL circuits, the Plant is designed to process both refractory (sulfide) and non-refractory (oxide) mineralised material, per the July 28, 2026 press release. i-80 Gold is one of 2 gold companies in Nevada with an autoclave processing plant, the other being owned by Nevada Gold Mines Inc., a joint venture between Barrick Mining Corporation and Newmont Corporation.

Demolition & Early Works

Major demolition activities commenced on schedule in mid-June 2026 and will extend into the fourth quarter of 2026. Pre-demolition equipment and building cleaning have been completed, and environmental testing is nearing completion with no material requiring special handling encountered to date. Safety systems and training programs are in place, health and safety teams have mobilised to site, and contractor onboarding and mobilisation are progressing. Lighting upgrades have been completed throughout the Plant.

Engineering & Permitting

Detailed engineering is approximately 30% complete as of mid-July 2026, progressing in line with the planned construction and commissioning schedule. Hatch Ltd. has expanded its global and site-based engineering and procurement teams. Normal course design and environmental permit applications were submitted in the first quarter of 2026; several permits have been received to date, and additional permits are pending. Various construction activities are targeted to commence in the second half of 2026, subject to approval of the associated permits.

Next Steps

Upcoming Lone Tree Plant refurbishment milestones are as follows: commencement of construction targeted for the fourth quarter of 2026; completion of detailed engineering targeted for the end of the first quarter of 2027; filtration plant completion targeted for the early fourth quarter of 2027; and first gold pour targeted for year-end 2027.

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