i-80 Gold Corp.

Exploration, Evaluation and Pre-development

During the three months ended December 31, 2023, the Company was primarily focused on exploration and pre-development activities at the McCoy-Cove projects, the Ruby Hill mine, the Granite Creek mine and the FAD project. The following table represents the cumulative exploration, evaluation, and pre-development expenses to date by project.

(i)May not add due to rounding

(ii)Other includes technical work not associated with an above property

Granite Creek mine

During the three months ended December 31, 2023, drilling at the Granite Creek mine was focused on advancing delineation of the South Pacific Zone. A total of 6,448 feet and 27,392 feet of core and RC drilling was completed, respectively, for the three months and year ended December 31, 2023. Water treatment plant has been completed and permit has been received in 2024. The installation of de-watering Well 6 is complete and the mobilization of the water treatment plant has started.

McCoy-Cove project

Underground delineation drilling continued, with 13,102 feet and 61,150 feet of core and RC drilled, respectively, for the three months and year ended December 31, 2023. Expenditures continued during the quarter on the hydrology studies, and engineering of de-watering and mining options. The exploration decline was completed in the third quarter of 2023.

Ruby Hill mine

During the three months ended December 31, 2023, drilling at Ruby Hill was focused on advancing exploration and delineation of multiple CRD mineralized discoveries. Definition and expansion drilling of high-grade polymetallic mineralization along the Hilltop fault structure remains a priority. 7,941 feet of core drilling and 10,890 feet of RC drilling was completed during the three months ended December 31, 2023. For the year ended December 31, 2023, 42,791 feet of core drilling and 50,695 feet of RC drilling was completed. The Ruby Hill property provides significant diversification as it is host to oxide gold, sulphide gold, polymetallic CRD and skarn base metal mineralization. Metallurgical work continues on the flotation optimization of base metals at the Hilltop deposit. Future base metal flotation work will be conducted on the Blackjack deposit in the fourth quarter. The draft Preliminary Economic Assessment (“PEA”) for Ruby Hill 426 and Ruby Deeps underground gold mine remains under internal review.

FAD Project

After the acquisition of Paycore, which included Golden Hill Mining LLC and the FAD property, drilling continued on mineralization at FAD. Drilling is focused on infill and step-out drilling. Over 4,437 feet and 22,794 feet of core and RC drilling were completed, respectively, for the three months and year ended December 31, 2023.