High-Grade Gold In Open Pit Drilling At Granite Creek

RENO, NV - i-80 Gold Corporation reported that assay results for the first hole drilled at the Granite Creek Property, located in Humboldt County, Nevada, has returned high–grade results that confirm the high-grade open pit opportunity. Hole iGM21-01, drilled from the bottom of the historic CX-Pit intersected two zones of mineralization grading 3.17 g/t Au over 7.5 m and 6.80 g/t Au over 51.1 m. The hole was drilled for metallurgical purposes into the main structure below the pit (true widths unknown) and returned exceptional grades that appear to be oxide mineralization based on an average cyanide soluble to fire assay ratio of 0.94 over both intervals. The surface drill program targeting open pit mineralization at Granite Creek is complete and multiple assays remain pending. The drill program was focused on intersecting material to be used for metallurgical and geotechnical purposes in advance of initiating permitting for an open pit mine and on-site processing.

Matt Gili, President and Chief Operating Officer, said, "Advancing the Granite Creek Mine Project is the Company's primary focus for 2021. With more than 20,000 meters of drilling planned in the current program, our goal will be to increase resources, advance permitting to facilitate open pit mining, and prepare for underground test mining that is expected to be initiated this year."

The majority of the ongoing program, expected to consist of more than 20,000 meters of drilling, is focused on defining and expanding mineralization within several high-grade target areas proximal to existing underground mine workings at Granite Creek. i-80 has completed initial underground rehabilitation and has commenced underground drilling. As part of an aggressive plan to re-commence mining from underground, the Company is in the process of rehabilitating several areas for the purposes of commencing test mining in H2-2021. A Preliminary Economic Assessment for Granite Creek is nearing completion.