I-80 Gold Provides Update On Its Nevada Development Plan; Operations Are On Schedule Toward Total Annual Production Target Of 150K-200K Ounces Of Gold From 2028

In addition, the Company's development plan has been updated to prioritize Mineral Point open pit as the Company's next major development project following the anticipated establishment of its underground hub-and-spoke mining and processing platform to create a Nevada-focused mid-tier gold producer.

Development Highlights

Archimedes underground on track to commence production mining: Development at Archimedes, the Company's second underground mine, continues to advance on schedule toward the start of production mining in the fourth quarter of 2026, as planned.
Lone Tree Plant refurbishment advances toward initial construction: Bulk demolition activities are complete, and mobilization is underway for initial construction activities to commence in the fourth quarter of 2026, as planned. Capital expenditures remain largely on budget with approximately 10% of the total project contingency drawn down to date.
Exploration upside drives updated development plan: Mineral resource expansion potential at the Granite Creek and Archimedes underground projects support the Company's view that these deposits have the potential to supply sufficient feed to the Lone Tree Plant for longer than previously contemplated, providing flexibility to sequence Cove underground later in the development plan as a future source of refractory feed to the Lone Tree Plant when required. 
Mineral Point open pit prioritized ahead of Granite Creek open pit: Mineral Point is the Company's most valuable project. It hosts a large gold-silver oxide resource and the potential to add annual production of approximately 280,000 gold equivalent ounces over a mine life of 17 years, based on the related preliminary economic assessment ("PEA") filed in March 2025.(1) The updated development plan prioritizes the Mineral Point open pit oxide project to drive the next phase of production growth ahead of the Granite Creek open pit oxide project.
Oxide mineralization identified within the Archimedes underground 426 zone provides significant low-cost processing opportunity: Ongoing metallurgical test work demonstrates the potential to process this oxide material, which was not included in the related March 2025 PEA, on the Ruby Hill property's existing active heap leach pad, providing a significantly lower cost processing option than assumed in the PEA mine plan.