i-80 Gold Announces Positive Feasibility Study and Initial Mineral Reserves for Granite Creek Underground; After-Tax NPV(5%) of $118 Million at $2,750/oz Au Increasing to $598 Million at $4,500/oz Au

i-80 Gold Corp. released the Feasibility Study and initial mineral reserves for its Granite Creek Underground project in Nevada. The study defines 2.20 million tonnes at 7.87 g/t Au, containing 556,500 oz of Proven and Probable reserves, which supports an 8.5-year mine life.

Measured and Indicated resources increased 229% to 3.73 million tonnes at 7.17 g/t Au (859,500 oz), driven by infill drilling that converted Inferred resources. Base-case economics at $2,750/oz Au show an after-tax NPV(5%) of $118 million, rising to $598 million at $4,500/oz.

Steady-state (2028-2032) cash costs are $1,827/oz and AISC is $1,915/oz. LOM averages are higher at $2,076/oz cash and $2,273/oz AISC due to the toll-milling transition phase. Average annual production is 75,100 oz during steady state, declining to 53,900 oz over the full mine life.

Total LOM capital is $144.9 million, including $82.9 million sustaining and $49.3 million allocated to the Lone Tree plant refurbishment. Processing strategy involves toll milling through mid-2027, followed by commissioning of the Lone Tree autoclave and CIL plant in Q4 2027.

i-80 Gold Corp. (IAU) released a technical study and reserve definition for its Granite Creek project, validating the development plan and providing updated cost and production metrics ahead of the Lone Tree plant commissioning. The update includes a 229% increase in resources and an 8.5-year mine life, which de-risks the near-term production profile and confirms the company's path to scaling output.

The market has already priced in this development progress, with the stock consolidating in the $2.30–$2.50 range. The release is considered positive but expected. No changes to capital structure, dividend policy, or major M&A were announced, and the focus remains on the execution of the existing development plan.

i-80 Gold Corp. is a Nevada-based gold developer transitioning from exploration to production. Its core assets include the Granite Creek Underground, Archimedes Underground, Mineral Point Open Pit, Cove Underground, and the Lone Tree Processing Plant. The company operates in Nevada, a tier-one jurisdiction ranked number one globally for mining investment attractiveness. Its strategic goal is to transition from toll milling to owner processing via the Lone Tree plant, targeting 150,000–200,000 oz annually by 2028 and scaling to over 600,000 oz by the early 2030s.