Mr. Ewan Downie reports

I-80 GOLD ESTABLISHES AT-THE-MARKET EQUITY PROGRAM

i-80 Gold Corp. has established an at-the-market equity program.

The ATM program has been implemented pursuant to the terms of an equity distribution agreement dated Aug. 12, 2024, among the company, National Bank Financial Inc., Canaccord Genuity, Stifel Nicolaus Canada Inc., RBC Dominion Securities Inc., Scotia Capital Inc., National Bank of Canada Financial Inc., Stifel, Nicolaus & Company Inc., RBC Capital Markets LLC and Scotia Capital (USA) Inc. The ATM program will allow i-80 Gold, through the agents, to, from time to time, offer and sell in Canada and the United States through the facilities of the Toronto Stock Exchange and the NYSE American Stock Exchange such number of common shares in the capital of the company as would have an aggregate offering price of up to $50-million (U.S.). Sales of the shares, if any, will be made in transactions that are deemed to be at-the-market distributions as defined in National Instrument 44-102 (Shelf Distributions) and an at-the-market offering as defined in Rule 415 under the U.S. Securities Act of 1933, as amended, including sales made by the agents directly on the TSX, the NYSE American, or any other trading market for common shares in Canada or the United States, or as otherwise agreed between the agents and the company. The shares that may be issued by the company under the ATM program have been conditionally approved for listing on the TSX and the NYSE American.

The offering of shares under the ATM program is being made pursuant to a prospectus supplement dated Aug. 12, 2024, to the final short form base shelf prospectus filed on June 21, 2024, each filed with the securities commissions in each of the provinces and territories of Canada, and in the United States pursuant to a prospectus supplement dated Aug. 12, 2024, to the company's U.S. base prospectus contained in its registration statement on Form F-10 filed with the U.S. Securities and Exchange Commission on June 24, 2024.

The ATM program is expected to be effective until the earlier of the date that the aggregate gross sales proceeds of the shares sold under the ATM program reaches the aggregate amount of $50.0-million (U.S.) (or the equivalent in Canadian dollars) and on or about the end of the company's first quarter, unless terminated before such time or otherwise in accordance with the equity distribution agreement. The timing and extent of the use of the ATM program will be at the discretion of the company. Accordingly, total gross proceeds from equity offerings under the ATM program, if any, could be significantly less than $50-million (U.S.).

The company intends to use any proceeds from the ATM program to advance the exploration, development, expansion, the repayment of debt and working capital requirements of the company's McCoy Cove project, Granite Greek project, Lone Tree project and Ruby Hill project and for general corporate and working capital purposes. Actual allocation of the proceeds may vary depending on the amount raised, the time periods during which the proceeds are raised, and future developments in relation to the company's projects and unforeseen events.

Potential investors should read the Canadian prospectus supplement, the Canadian shelf prospectus, the U.S. prospectus supplement, the U.S. base prospectus and other documents the company has filed with the securities commissions of the provinces and territories of Canada and the SEC for more complete information about i-80 Gold and the ATM program. Copies of the Canadian shelf prospectus and the Canadian prospectus supplement can be found on i-80 Gold's profile on SEDAR+, and copies of the U.S. base prospectus and U.S. prospectus supplement can be found on i-80 Gold's profile on EDGAR. Potential investors can also request printed or electronic copies of these documents by contacting National Bank Financial, Gavin Brancato, by e-mail at gavin.brancato@nbc.ca or by phone at 1-416-869-7568.

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 TSX and the NYSE American under the trading symbols IAU and IAUX, respectively.

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