Mr. Leily Omoumi reports

I-80 GOLD CLOSES PREVIOUSLY ANNOUNCED UPSIZED PROSPECTUS OFFERING

i-80 Gold Corp. has closed its previously announced prospectus offering of 28,212,593 common shares of the company at a price of 80 cents per offered share for aggregate gross proceeds to the company of approximately $22,570,074.

The offered shares were offered in each of the provinces and territories of Canada, other than Quebec, pursuant to a prospectus supplement dated Jan. 27, 2025, to its short form base shelf prospectus filed on June 21, 2024, and in the United States pursuant to the company's U.S. registration statement on Form F-10 (registration No. 333-279567, which includes the shelf prospectus and was declared effective by the United States Securities and Exchange Commission on June 25, 2024. Copies of the prospectus supplement and the shelf prospectus and documents incorporated by reference therein are available electronically under i-80's issuer profile on SEDAR+ and on i-80's profile on EDGAR.

The company anticipates that its previously announced concurrent private placement offering to certain directors and officers of the company, as described in its news release dated Jan. 27, 2025, is expected to close in the first week of February, 2025, subject to the receipt of all required regulatory approvals, including the approval of the Toronto Stock Exchange and the NYSE American.

About i-80 Gold Corp.

i-80 Gold is a Nevada-focused mining company with the third-largest gold mineral resources in the state of Nevada. The recapitalization plan under way is designed to unlock the value of the company's high-grade gold deposits to create a Nevada mid-tier gold producer. i-80 Gold's common shares are listed on the TSX and the NYSE American under the trading symbol IAU: TSX and IAUX: NYSE.

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