Ruby Hill 426 Zone Drilling Results

RENO, NV - i-80 Gold Corp reported that initial drilling to test the 426 Zone, part of the Ruby Deeps deposit, has intersected multiple zones of high-grade mineralization at the Ruby Hill Property located in Eureka County, Nevada. Highlight results from initial infill and step-out drilling in the 426 horizon: 1) The iRH22-02 four intervals: 9.6 g/t Au over 15.5 m (0.28 oz/ton – 51.0 ft); 7.7 g/t Au over 10.1 m (0.22 oz/ton – 33.0 ft); 13.9 g/t Au over 13.4 m (0.40 oz/ton – 44.0 ft); and 11.6 g/t Au over 7.6 m (0.34 oz/ton – 25.0 ft). 2) The iRH22-05: 9.9 g/t Au over 9.8 m (0.29 oz/ton – 32.0 ft). 3) The iRH22-07 four intervals: 8.2 g/t Au over 2.1 m (0.24 oz/ton – 7.0 ft); 9.7 g/t Au over 23.2 m (0.28 oz/ton – 76.0 ft); 10.7 g/t Au over 10.1 m (0.31 oz/ton – 33.0 ft); and 10.4 g/t Au over 15.8 m (0.30 oz/ton – 52.0 ft). 4) The iRH22-08: 15.6 g/t Au over 12.2 m (0.45 oz/ton – 40.0 ft). 5) The iRH22-09: 7.7 g/t Au over 9.4 m (0.22 oz/ton – 31.0 ft), including 10.6 g/t Au over 5.3 m (0.31 oz/ton – 17.5 ft). 6) The iRH22-10: 10.4 g/t Au over 13.7 m (0.30 oz/ton – 45.0 ft).

The 426 Zone is the upper portion of the Ruby Deeps deposit, is interpreted to consist of stratigraphic and fault controlled sub-horizontal mineralization hosted within or proximal to the northeast striking 426 fault structure and is anticipated to be the first zone accessed from underground. Drilling in the 426 Zone is designed to define mineralization for initial mine planning, to provide geotechnical work for the design of the underground decline, and to complete additional metallurgical test work. The 426 Zone remains open along strike to the south and at depth with very little drilling existing along the 426 fault at depth above its intersection with the Ruby Deeps. Drill holes iRH22-02 and iRH22-07 each intersected four significant intervals within this gap. Several holes intersected multiple structures, suggesting the potential to define resources in multiple horizons and, he Ruby Deeps Zone, ground conditions appear to be very favorable and intersection widths and grades have met or exceeded expectations. Additionally, significant oxide mineralization has been observed in the upper portions of the deposit.

The Company is completing a large-scale surface (+20,000 meter) drill program at Ruby Hill for both deposit delineation and exploration purposes. Definition and expansion drilling is focused on the initial areas planned to be mined including the 426 Zone and the deeper Ruby Deeps Zone where recent results include 19.8 g/t Au over 33.2 m and 7.1 g/t Au over 78.6 m. Multiple gold and poly-metallic exploration targets are also being drilled.

The ongoing infill and step-out drill program will aide in the advancement of the Company's plan to develop an underground mine at Ruby Hill, accessed via ramp from the Archimedes open pit. Following the 2022 program, an updated mineral resource estimate is planned for the completion of an economic study. The current program at Ruby Hill is one of several ongoing and anticipated drill programs on i-80 projects in 2022 that are collectively budgeted to comprise more than 50,000 meters.

It is expected that refractory mineralization from the planned underground operation at Ruby Hill will be trucked to the Lone Tree facility, once operational, and oxide mineralization can be processed on-site at the existing heap leach pad, or at the existing CIL plant, once refurbished. i-80's substantial existing infrastructure at Lone Tree and Ruby Hill is expected to reduce potential exposure to the current inflationary environment.