i-80 Gold (IAU) 35th BMO Global Metals, Mining & Critical Minerals Conference summary

Strategic growth and production outlook

• Aims to become a mid-tier gold producer by developing four new mining operations in Nevada, targeting over 600,000 oz annual gold production within five years.

• Holds 6.5 million oz measured and indicated gold, 7.5 million oz inferred, and over 200 million oz silver resources.

• Three-phase growth plan expects production to double at each phase, with the plan remaining on track since its launch 15 months ago.

• Five key projects include three high-grade underground mines and two open pits, with mine lives exceeding 10 years.

• NAV for the five projects estimated at $5 billion at $3,000 gold, with potential for higher valuation at current prices.

Project development and financing

• Granite Creek Underground is ramping up; Archimedes construction began in Q3, targeting ore zone in H2 and ramp-up in 2027.

• Refurbishment of the $400 million autoclave at Lone Tree Complex is underway, with completion expected in Q4 2027 and first pour in December.

• Raised $800 million of the $1 billion needed, including $300 million equity and a $500 million financing package from reputable institutions.

• Plans to call existing convertible debentures and replace with new convert, ensuring full financing for all three phases at $3,000 gold.

• Feasibility studies for Granite Creek and Cove to be filed in Q2, with Archimedes study expected in Q1 next year.

Permitting, execution, and operational environment

• All projects are brownfield sites with prior federal and state approvals, benefiting from expedited permitting processes.

• Additional permits required, but operates in a mining-friendly U.S. jurisdiction with strong regulatory support.

• No significant challenges in sourcing construction teams or contractors; experienced personnel and suppliers are available.

• Team strengthened with technical hires and support from Hatch Engineering, ensuring project execution.

• Optimizing development phases to potentially accelerate flagship Mineral Point project.