Approval For Drilling In The Hilltop Corridor At Ruby Hill

RENO, NV - i-80 Gold Corpation has received approval from the Bureau of Land Management (BLM) and Nevada Bureau of Mining Regulation and Reclamation (BMRR) for an additional 24.49 acres of disturbance consisting of up to 70 additional pad locations at the Ruby Hill Property located in Eureka County, Nevada. This approval will allow the Company to begin testing the highly prospective, approximately 3 km long, mostly unexplored structural corridor between the Hilltop deposits and the recently acquired Paycore Minerals property to the south.

Ruby Hill is one of three core assets being advanced by i-80 and is host to high-grade Carlin-Type gold deposits and multiple Carbonate Replacement Deposits (CRD). In mid-2022, i-80 discovered multiple zones of high-grade CRD and skarn mineralization proximal to the Hilltop fault at Ruby Hill and earlier in 2023, acquired Paycore for its exploration potential and its FAD deposit, one of the highest-grade polymetallic deposits in North America. The consolidation of the "Hilltop Corridor" provides i-80 with a favourable structural trend that measures more than 3 km and is host to multiple historic mines and new gold and polymetallic deposits.

Importantly, this permitting will provide enhanced drill sites to define and expand mineralization at Upper Hilltop, one of a series of high-grade CRD zones located on the south side of the Archimedes pit where previously released drill results include 515.3 g/t Ag, 28.9 % Pb, 10.5 % Zn & 0.9 g/t Au over 28.3 m in hole iRH22-43, 1.9 g/t Au, 631.3 g/t Ag, 7.4 % Zn & 33.0 % Pb over 18.3 m in hole iRH22–53, and 60.2 g/t Au, 908.7 g/t Ag, 1.1 % Zn & 15.7 % Pb over 10.0 m in hole iRH22-55.

Also, high-grade CRD and skarn mineralization has been discovered under alluvial cover in the East Hilltop area. Owing to limited drill platforms, this target has been difficult to test but has returned significant mineralization including 12.3 % Zn over 39.4 m in hole iRH22-61 (East Hilltop skarn) and 226.1 g/t Ag, 9.7 % Zn and 10.0 % Pb over 8.4 m in hole iRH23-10 (East Hilltop CRD).

The Hilltop Corridor is a predominately alluvial covered trend immediately south of the Archimedes pit believed to be host to multiple feeder fault structures (see Image 1) that is largely untested by previous drilling due to the alluvial cover and lack of interest in base metals. The Hilltop discoveries were made in the second half of 2022 exploration campaign while testing one of several generative exploration targets identified proximal to the Blackjack (skarn) deposit, confirming the Company's belief that the Ruby Hill Property could be host to multiple types of mineralization and several large-scale deposits. Additional high–grade CRD discoveries have been made in 2023, extending mineralization along the Hilltop fault over a strike length of approximately 750 metres. The permitting will allow the Company to more thoroughly define mineralization along the Hilltop fault but also test new targets being generated from drilling or geophysical surveys.

Paycore was a key acquisition for i-80 as it consolidates the most productive part of the Eureka District, adding 3,627 acres to the Company's land package. The FAD deposit is host to a historic non 43-101 compliant resource of 3,540,173 t @ 5.14 g/t Au, 196.46 g/t Ag, 8.0% Zn, 3.8% Pb1 and where Paycore drilling in 2022 returned numerous high-grade intercepts including 1.06 g/t Au, 155.5 g/t Ag, 22.0% Zn & 1.5% Pb over 12.5 m and 2.03 g/t Au, 231.6 g/t Ag, 6.3 % Zn & 3.7 % Pb over 44.8 m (PC22-07), 7.1 g/t Au, 376.3 g/t Ag, 6.3 % Zn & 10.3% Pb over 14.8 m (PC22-08) and 8.0 g/t Au, 79.0 g/t Ag, 10.0 % Zn & 1.0% Pb over 27.4 m and 1.8 g/t Au, 318.0 g/t Ag, 4.6 % Zn & 6.1 % Pb over 7.4 m (PC22-10).