Mr. Ewan Downie reports

I-80 GOLD RELEASES HIGH-GRADE RESULTS FROM UNDERGROUND DRILLING AT GRANITE CREEK

i-80 Gold Corp. has released additional high-grade results from the continuing drill program to define mineralization in the upper part of the South Pacific zone at the company's Granite Creek property, located in Humboldt county, Nevada.

The new results are from seven new holes drilled in the underground campaign focused on the delineation of mineralization within the South Pacific zone. The SPZ is located immediately north of the current mine workings and is expected to become the primary zone for mining. Initial stopes in the SPZ are being planned for first half 2024 once mine workings are extended to provide access.

The underground drill program is focused on the southern and upper part of the deposit, where initial mining is planned. Results from the underground program continue to demonstrate continuity of high-grade mineralization with some of the best results received to date in the South Pacific zone.

Highlight results from the most recent seven new underground drill holes testing the South Pacific zone at Granite Creek include:

• GCPU23-33: 17.7 grams per tonne gold over 7.0 metres;
• GCPU23-45A: 27.2 g/t Au over 4.0 m;
• GCPU24-01: 18.1 g/t Au over 14.4 m;
• GCPU24-02: 22.0 g/t Au over 29.0 m;
• GCPU24-04: 11.0 g/t Au over 22.4 m;
• GCPU24-04: 60.5 g/t Au over 4.1 m.

"The ongoing surface and underground drilling program at Granite Creek continues to confirm impressive high-grade gold mineralization, including over substantial widths," stated Tyler Hill, chief geologist of i-80 Gold. "Importantly, the South Pacific zone is expected to become the primarily source of mineralization at Granite Creek, and remains open along strike to the north and at depth, providing considerable upside."

With its improved financial position, the company is in the process of ramping up a large-scale surface drill program to complete further definition and expansion drilling of the SPZ in advance of an updated resource estimate and feasibility study for the Granite Creek property. Four drill rigs will be used to complete this program. Additionally, the main decline is being extended to provide access to the SPZ, and initial stoping of this new zone is expected midyear.

The Granite Creek property is strategically located proximal to Nevada Gold Mines' Turquoise Ridge and Twin Creeks mines at the north end of the Battle Mountain-Eureka trend at its intersection with the Getchell gold belt in Nevada. High-grade mineralization occurs in a near-identical geological setting as that at the multimillion-ounce Turquoise Ridge mine located immediately to the north, proximal to a major regional fault (the Getchell or Range Front fault) on the eastern edge of the large Osgood Mountains intrusive complex. The Granite Creek deposit remains open at depth and along strike.

Annual general meeting and investor day presentation

The company will hold an investor day presentation immediately following its annual general meeting today, May 14, 2024, being held at the Bennett Jones LLP office, 100 King St. West, Suite 3400, Toronto, in the Canada boardroom on the 34th floor. The in-person AGM will begin at 4 p.m. EST followed by the webcasted investor day presentation commencing at 4:30 p.m. EST. The presentation can also be viewed as a conference call and webcast (details below). Investors are invited to attend the event in person where they can meet and discuss details with members of i-80 Gold's board of directors and management team.

Conference call participant details

A webcast will be available.

Phone number information

North American toll-free:  1-888-664-6383

Local Toronto:  1-416-764-8650

Quality assurance/quality control procedures

All samples were submitted to ALS Minerals of Sparks, Nev., which is an ISO 9001 and 17025 certified and accredited laboratory, independent of the company. Samples submitted through ALS are run through standard prep methods and analyzed using Au-AA23 (ALS) (gold; 30-gram fire assay). ALS also undertakes its own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. i-80 Gold's QA/QC program includes regular insertion of CRM standards, duplicates and blanks into the sample stream with a stringent review of all results.

Qualified person

Tyler Hill, CPG-12146, chief geologist, reviewed the technical and scientific information contained in this press release, and is a qualified person within the meaning of National Instrument 43-101.

About i-80 Gold Corp.

i-80 Gold is a Nevada-focused mining company with a goal of achieving mid-tier gold producer status through the development of multiple deposits within the company's advanced-stage property portfolio with processing at i-80 Gold's centralized milling facilities. i-80 Gold's common shares are listed on the Toronto Stock Exchange and the NYSE American under the trading symbols IAU (TSX) and IAUX (NYSE).

We seek Safe Harbor.