High-Grade Gold Mineralization At Ruby Hill

RENO, NV - i-80 Gold Corporation reported continued positive results from its ongoing drill program at the Ruby Hill Property located in Eureka County, Nevada. The substantial success of the 2022 exploration campaign, including multiple new discoveries, the drilling program at Ruby Hill has again been increased and will be active until year-end with a focus on expanding the recent discovery of high-grade polymetallic mineralization in the Hilltop corridor. New results from drilling at the Ruby Deeps deposit continue to expand mineralization further demonstrating excellent continuity of mineralization, impressive widths and grades, often in excess of 10 grams per ton gold (g/t Au), and favorable ground conditions. Hole iRH22-57 intersected 9.0 g/t Au over 51.2 m, expanding mineralization in the Ruby Deeps 50 m to the north of iRH21-05 that returned 7.1 g/t Au over 78.6 m. Hole iRH22-29 intersected 13.3 g/t Au over 6.4 m and 11.3 g/t Au over 5.8 m, expanding mineralization to the south of iRH22-06 that intersected 19.8 g/t Au over 33.2 m.  Mineralization remains open for expansion to the north and south.

Ongoing drilling is focused on defining and expanding gold mineralization in the primary zones while also testing several high-potential targets on the Property including the recent Hilltop discovery. Step-out drilling in both the Upper and Lower Hilltop Zones continues to intersect sulphide mineralization (additional results pending), confirming substantial expansion potential and a recently completed geophysical survey has identified several nearby high-priority anomalies.  As a result, the 2022 drill program at Ruby Hill will continue with more than 40,000 meters expected to be completed by year-end.

Following the 2022 drill program, the Company will complete a revised resource estimate for the Ruby Deeps deposit prior to the completion of an economic study. Confirmatory drilling is also being completed in the Blackjack Zone with the goal of including it in the 2023 resource updates.

The Ruby Deeps deposit is comprised of the 426 Zone, the upper part of the deposit interpreted to consist of more vertical mineralization hosted within or proximal to the northeast striking 426 fault structure, and the deeper Ruby Deeps Zone, a flat-lying, north-south striking, sulphide zone located in the hanging wall of the Holly and 150 fault structures. Both zones remain open for expansion.

"Ruby Hill has truly outperformed expectation, demonstrating the property's potential to host both a large Carlin-type gold deposit and also extremely high-grade polymetallic CRD mineralization", said Tyler Hill, Senior Geologist. "Apparent rock quality at the Ruby Deeps deposit appears more competent than at most other Nevada deposits of this type which bodes well for mining."