I-80 Gold Corp · TSX:IAU
I-80 Gold — Corporate Update (December 2025)
16 slides from I-80 Gold's corporate update, Dec 19, 2025
Slide 1: Lone Tree Plant Refurbishment: Project Update
C R E AT I N G A N E V A D A - F O C U S E D , M I D -T I E R G O L D P RO D U C E R NYSE AMERICAN: IAUX | TSX : IAU Lone Tree Plant Refurbishment: Project Update Conference Call & Webcast December 19, 2025
Slide 2: Cautionary Disclaimer Regarding Forward-Looking Statements
CAUTIONARY DISCLAIMER REGARDING FORWARD-LOOKING STATEMENTS Certain statements in this presentation constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws, including but not limited to statements or information regarding: statements r
Slide 3: Refurbishment Study Complete
LONE TREE PLANT Refurbishment Study Complete GRANITE CREEK Cornerstone Processing Facility Enables • Granite Creek Underground • Granite Creek Open Pit Hub-and-Spoke Mining and Processing Strategy • Lone Tree is centrally located within close proximity to LONE TREE PLANT the Company’s five core gold
Slide 4: Refurbishment & Recommissioning Unlocks Transformational Value
LONE TREE PLANT Refurbishment & Recommissioning Unlocks Transformational Value Current Processing Scenario Refurbishment Study Anticipated Processing Scenario Reliant on third-party toll milling Engineering design & In-house processing material from Granite Creek Underground capital costs of both su
Slide 5: Legacy Asset with Significant Existing Infrastructure
LONE TREE PLANT Legacy Asset with Significant Existing Infrastructure Lone Tree Property Established Processing Facility With Brownfield Upside • Pressure oxidation (POX) circuit commissioned in 1993 and operated for ~ 14 years prior to care and maintenance • Residual leaching of the historic Lone T
Slide 6: New Plant Design Supports a Manageable, Low-Risk Build
LONE TREE PLANT New Plant Design Supports a Manageable, Low-Risk Build Engineering Study Complete Experienced Nevada-based Team Invested into two-years of engineering work • Refractory gold metallurgy ~$13M for the Study through its evolving phases • Track record in constructing, commissioning and o
Slide 7: Scope of Work
LONE TREE PLANT Tailings Material Feed Transfer Pad Scope of Work Tailings Filtration Refurbishment Objectives • Upgrade and modernize Plant to current technology and modern controls Carbon in Leach • Upgrades expected to • improve process efficiency POX Autoclave Mercury Abatement and operating fle
Slide 8: Dual Processing Flexibility
LONE TREE PLANT PlantCapacity Plant Capacity Dual Processing Flexibility Design Throughput ~2,268 tpd Plant Availability 85% Annual Throughout ~827,800 tpa POX bypass Processing Circuit Integrated POX → CIL Refractory Material Processing Circuit Grind → CIL (POX bypass) Oxide Material Potential 5% -
Slide 9: CAPEX Waterfall Comparison to 2023 Study
LONE TREE PLANT CAPEX Waterfall Comparison to 2023 Study CAPEX supported by approximately ~14,000 cost line items in the control estimate Extensive engineering reviews, operating assessments, and trade-off studies to optimize project capital $500 $480 $460 $40M $440 $12M $430M $420 $20M $9M $17M Mil
Slide 10: Refurbishment Timeline Tracking Well
LONE TREE PLANT Refurbishment Timeline Tracking Well Key Milestones to Construction and Commissioning i-80 GOLD CORP | 10
Slide 11: Recapitalization Plan: Advancing Discussions & Due Diligence
COMPANY OVERVIEW Recapitalization Plan: Advancing Discussions & Due Diligence • Expect to secure funding by the end of Q2 2026 or earlier • Target completion aligns with scheduled construction decision for Lone Tree refurbishment FAD Non-core Senior Debt Royalty Asset Sale Progressing multiple term
Slide 12: Q&A
Q&A i-80 GOLD CORP | 12
Slide 13: Establishing a Scalable Multi-asset Mid-tier Gold Producer
COMPANY OVERVIEW Establishing a Scalable Multi-asset Mid-tier Gold Producer ANTICIPATED AVERAGE ANNUAL GOLD PRODUCTION(3)(4) PHASE 3 700 600koz+(3) 600 500 Gold Production (koz) PHASE 2 400 300koz – 400koz(3) 300 200 PHASE 1 150koz – 200koz(3) 100 0 2028E – 2029E 2030E – 2031E 2032E+ Granite Creek U
Slide 14: Appendix
APPENDIX i-80 GOLD CORP | 14
Slide 15: Three Phase Development Plan: Achievable and Advancing
COMPANY OVERVIEW Three Phase Development Plan: Achievable and Advancing Latest & Upcoming 2025 2026 2027 2028 2029 2030 2031 2032 Economic Studies Granite Creek Toll Milling Q1 2025 – PEA (update from 2021) PRODUCTION Underground Q1 2026 – Feasibility Study Phase 1 Refractory Archimedes Q1 202
Slide 16: For Further Information, Please Contact
NYSE AMERICAN: IAUX | TSX: IAU FOR FURTHER INFORMATION, PLEASE CONTACT: LEILY OMOUMI SVP CORPORATE DEVELOPMENT & STRATEGY 1.866.525.6450 INFO@I80GOLD.COM WWW.I80GOLD.COM