I-80 Gold Corp · TSX:IAU
I-80 Gold — Investor Presentation (March 2026)
54 slides from I-80 Gold's investor presentation, March 2026
Slide 1: Creating a Nevada-Focused, Mid-Tier Gold Producer
MADE IN THE U.S.A. 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 March 2026
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 management’s assessment of i-80 Gold Corp.’s (“i-
Slide 3: Opportunity in a Tier 1 Jurisdiction
COMPANY OVERVIEW Opportunity in a Tier 1 Jurisdiction Nevada Ranked #1 Jurisdiction Globally for GRANITE CREEK Investment Attractiveness* • Granite Creek Underground • Granite Creek Open Pit Industry-leading pipeline of Nevada-based gold projects LONE TREE PLANT (Autoclave & CIL) Fifth largest m
Slide 4: Strong Resource Base With All Deposits Open For Expansion
COMPANY OVERVIEW Strong Resource Base With All Deposits Open For Expansion Completed, ongoing, and planned infill drill programs over the next 24 months aim to convert Inferred mineral resources to the Measured and Indicated category and to expand the total resource base. TOTAL GOLD MINERAL RESOURCE
Slide 5: 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(1) PHASE 3 700 600koz+(1) 600 500 Gold Production (koz) PHASE 2 400 300koz – 400koz(1) 300 200 PHASE 1 150koz – 200koz(1) 100 0 2028E – 2029E 2030E – 2031E 2032E+ Granite Creek Unde
Slide 6: Significant Value Embedded Across i-80 Gold's Asset Portfolio
COMPANY OVERVIEW Significant Value Embedded Across i-80 Gold’s Asset Portfolio Average Annual Project After-tax NPV(5%)(2) IRR Gold Production Production $2,175/oz Au $3,000/oz Au $2,175/oz Au $3,000/oz Au Target(1) Start Year (following ramp up) Granite Creek Ramp up • PEA economics expected to $15
Slide 7: Multi-deposit Portfolio With Near-term Production Growth
COMPANY OVERVIEW Multi-deposit Portfolio With Near-term Production Growth ANTICIPATED ANNUAL GOLD PRODUCTION(1) 900 Granite Creek Underground • Active infill drill programs aim to convert resources, and extend mine Gold Equivalent Ounces (thousands) 800 Archimedes Underground life to sustain target
Slide 8: 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 Q2 2026 – Feasibility Study Phase 1 Refractory Archimedes Q1 202
Slide 9: Building Momentum
COMPANY OVERVIEW Building Momentum Established a three-phase plan to advance all five gold projects and one processing facility, New Development Plan targeting ~600,000 oz Au in average annual output in the early 2030s(1) Completed PEAs For Filed Preliminary Economic Assessments defining total portf
Slide 10: Up to $500M Financing Package Secured
COMPANY OVERVIEW Up to $500M Financing Package Secured Secured Commitments February 11, 2026 and expected to close Q1 2026 $250M Gold Prepayment Facility with $250M Franco-Nevada Royalty National Bank & Macquarie Bank Available upon closing $225M $25M allocated to accelerate Mineral Point $150M Init
Slide 11: Recapitalization Plan Almost Complete
COMPANY OVERVIEW Recapitalization Plan Almost Complete Upon Completion, Capital Strengthens • Total Funding Secured to Date Exceeds Balance Sheet to Fund Development Plan ~$800M • Refurbish Lone Tree processing facility • Secured financing package of up to $500M* • Retire ~$175M of existing debt(7)
Slide 12: Near-term Catalysts
TECHNICAL STUDIES Near-term Catalysts Cove underground (Feasibility) — Q2 2026 Granite Creek underground (Feasibility) — Q2 2026 12 - 18 Months Archimedes underground (Feasibility) — Q1 2027 Mineral Point open pit (PFS/FS) — H1 2027 Granite Creek open pit (PFS/FS) — Timeline under review L
Slide 13: Granite Creek Property
Granite Creek Property Turquoise Ridge Mine PROJECTS ON THE PROPERTY • Granite Creek Underground (ramp up phase) • Granite Creek Open Pit Turquoise Ridge Mine Located 10 km from Nevada Gold Mines’ prolific Turquoise Ridge Complex which currently hosts Summer Camp Project ~20Moz of gold resources(9)
Slide 14: Granite Creek Underground PEA Highlights
GRANITE CREEK UNDERGROUND PEA HIGHLIGHTS Measured & Indicated Resource(10) 261koz @ 10.5 g/t Au Inferred Resource(10) 326koz @ 13.0 g/t Au Mine Life ~8 years Average Annual Gold Production (following production ramp up) ~60koz @ AISC $1,597/oz (11) $2,175/oz Gold Price Assumption After-Tax NPV(5%)(2
Slide 15: i-80 Gold's First Underground Gold Mine
GRANITE CREEK UNDERGROUND i-80 Gold’s First Underground Gold Mine OGEE & SOUTH PACIFIC ZONES • Achieved 2025 guidance with 22,977oz Au plus sulfide stockpile of ~6,500 oz of recovered gold expected to be sold Q1 2026 • Strong resource reconciliation to model on tonnage and grade since ramp-up start
Slide 16: 2025 Drilling Demonstrated Potential For Expansion
GRANITE CREEK UNDERGROUND 2025 Drilling Demonstrated Potential For Expansion 2025 Drill Program to Support Upcoming Feasibility Study • Designed to expand the mineralized envelope and support the upcoming feasibility study • Drilled ~16,000 meters over 46 holes + 6 additional infill holes to test an
Slide 17: Production & Cash Flow Expected to Rise After Autoclave Restart
GRANITE CREEK UNDERGROUND Production & Cash Flow Expected to Rise After Autoclave Restart KEY OPERATING & FINANCIAL METRICS FROM PEA PEA HIGHLIGHTS Life of Mine • Mineral resource estimate excludes 2023-2025 drilling data $2,175/oz gold price assumption Mine Life ~8 years • 2025 impacts of undergrou
Slide 18: Granite Creek Open Pit PEA Highlights
GRANITE CREEK OPEN PIT PEA HIGHLIGHTS Measured & Indicated Resource(12) 1.4Moz @ 1.18 g/t Au Inferred Resource(12) 75koz @ 1.09 g/t Au Mine Life ~10 years Average Annual Gold Equivalent Production (following production ramp up) ~130koz @ AISC $1,225/oz (11) $2,175/oz Gold Price Assumption After-Tax
Slide 19: Ongoing Technical Trade Off Analyses to Optimize Economics
GRANITE CREEK OPEN PIT Ongoing Technical Trade Off Analyses to Optimize Economics • Large high-grade, low-CAPEX open pit GRANITE CREEK OPEN PIT LAYOUT project • Former producing mine with substantial existing infrastructure • Significant oxide and transitional mineralization remains below and adjace
Slide 20: Open Pit is Significantly Larger Than Previous 2021 Study
GRANITE CREEK OPEN PIT Open Pit is Significantly Larger Than Previous 2021 Study KEY OPERATING & FINANCIAL METRICS FROM PEA PEA HIGHLIGHTS $2,175/oz gold price assumption Life of Mine • Steady gold prices provided the opportunity to reassess the optimal processing stream Mine Life ~10 years Average
Slide 21: Ruby Hill Property
Ruby Hill Property PROJECTS ON THE PROPERTY • Archimedes Underground • Mineral Point Open Pit Dominant land position in the Eureka Mining District ~250 km to Lone Tree processing facility via road Host to both gold and base metal mineralization i-80 GOLD CORP | 21
Slide 22: Archimedes Underground PEA Highlights
ARCHIMEDES UNDERGROUND PEA HIGHLIGHTS Indicated Mineral Resource(13) 436koz @ 7.6 g/t Au Inferred Resource(13) 988koz @ 7.3 g/t Au Mine Life ~10 years Average Annual Gold Production (following production ramp up) ~100Koz @ AISC $1,893/oz (11) $2,175/oz Gold Price Assumption After-Tax NPV(5%)(2) Afte
Slide 23: i-80's Second Planned Underground Mine
ARCHIMEDES UNDERGROUND i-80’s Second Planned Underground Mine Construction Commenced Q3 2025 LONGITUDINAL SECTION OF MINERALIZED BODIES • Surface infrastructure for external portal completed Q2 2025 • Underground development advancing above expectations (~680 meters by end of 2025) • Sequential perm
Slide 24: High-tonne Low-cost Operation
ARCHIMEDES UNDERGROUND High-tonne Low-cost Operation KEY OPERATING & FINANCIAL METRICS FROM PEA PEA HIGHLIGHTS $2,175/oz gold price assumption Life of Mine • Potential to achieve the highest underground mining rate Mine Life ~10 years among i-80 Gold’s underground operations Average Annual Productio
Slide 25: Mineral Point Open Pit PEA Highlights
MINERAL POINT OPEN PIT PEA HIGHLIGHTS Indicated Mineral Resource(14) 3.4Moz @ 0.48 g/t Au 104.3Moz @ 15.0 g/t Ag Inferred Resource(14) 2.1Moz @ 0.34 g/t Au 91.5Moz @ 14.6 g/t Ag Mine Life ~17 years Average Annual Gold Equivalent Production (following production ramp up) ~280koz @ AISC $1,400/oz (11)
Slide 26: Potential to Become i-80's Largest Producing Asset
MINERAL POINT OPEN PIT Potential to Become i-80’s Largest Producing Asset • Large oxide Au-Ag deposit – largest of two oxide projects in i-80 Gold’s portfolio • Potential to become one of Nevada’s largest open-pit truck-and-shovel mining operations and a key driver of future growth for i-80 • $50M o
Slide 27: Mineral Point
Mineral Point KEY OPERATING & FINANCIAL METRICS FROM PEA PEA HIGHLIGHTS $2,175/oz Au price assumption; $27.25/oz Ag price assumption Life of Mine • Existing understanding of geology, hydrology and metallurgy substantially reduces execution risks Mine Life 16.5 years Average Annual Gold GOLD PRICE SE
Slide 28: Cove Underground PEA Highlights
COVE UNDERGROUND PEA HIGHLIGHTS Indicated Gold Resource(15) 311koz @ 8.2 g/t Au Inferred Resource(15) 1.16Moz @ 8.9 g/t Au Mine Life ~8 years Average Annual Gold Production (following production ramp up) ~100koz @ AISC $1,303/oz (11) $2,175/oz Gold Price Assumption After-Tax NPV(5%)(2) After-Tax IRR
Slide 29: i-80's Third Planned Underground Gold Mine
COVE UNDERGROUND i-80’s Third Planned Underground Gold Mine • High-grade brownfield gold deposits open CURRENT MINE PLAN INCLUDES HELEN & GAP DEPOSITS for expansion down-plunge • Located immediately south of Nevada Gold Mines’ Phoenix Cu-Au Mine; ~85 km to Lone Tree autoclave • Evaluating capital co
Slide 30: Recent Two-year Infill Drill Program Not Included in 2025 PEA
COVE UNDERGROUND Recent Two-year Infill Drill Program Not Included in 2025 PEA KEY OPERATING & FINANCIAL METRICS PEA HIGHLIGHTS $2,175/oz gold price assumption Life of Mine • Low capital, high return on estimated invested capital Mine Life ~8 years • Recent two-year drill program not included in 202
Slide 31: Positive Construction Decision Granted Q1 2026
LONE TREE PLANT Positive Construction Decision Granted Q1 2026 ONE OF TWO NEVADA COMPANIES WITH AN • Refurbishment and recommissioning unlocks transformational value AUTOCLAVE PROCESSING FACILITY • Eliminates reliance on costly third-party toll GRANITE milling CREEK UNDERGROUND • Shift from toll mil
Slide 32: New Plant Design Supports a Manageable, Low-risk Build
LONE TREE PLANT New Plant Design Supports a Manageable, Low-risk Build Engineering Study Complete Plant Capacity Design Throughput ~2,268 tpd Invested two years of engineering work ~$13M for the Study through its evolving phases Plant Availability 85% Annual Throughout ~827,800 tpa Processing Circui
Slide 33: Scope of Work
LONE TREE PLANT Scope of Work Material Feed Tailings Refurbishment Upgrades are Expected to: Transfer Pad • improve process efficiency and operating flexibility Tailings Filtration • potentially increase gold recoveries • meet new environmental compliance standards Carbon in Leach POX Autoclave Merc
Slide 34: Extensive Trade-off Studies Completed to Optimize Project Capital
LONE TREE PLANT Extensive Trade-off Studies Completed to Optimize Project Capital Capital Cost Summary $Millions Direct Costs POX and POX Utilities $86 Tailings Filtration $50 • Extensive engineering reviews, operating assessments, and Reagents and Utilities $39 trade-off studies completed to Neutra
Slide 35: Dual POX-CIL Processing Flexibility
LONE TREE PLANT Dual POX-CIL Processing Flexibility Designed to Process Refractory Material Using an Integrated POX-CIL Processing Stream • High-grade oxide material to bypass POX circuit (autoclave) to be processed solely in the CIL circuit after grinding • Flexibility allows the treatment of miner
Slide 36: Appendix
Appendix Lone Tree Plant
Slide 37: 2025 Operating Highlights at Granite Creek Property
GRANITE CREEK UNDERGROUND 2025 Operating Highlights at Granite Creek Property Three months ended Year ended Granite Creek Property December 31, December 31, Operational Statistics 2025 2024 2025 2024 Mined More Material in Q4 and Full Year Oxide mineralized material mined tonnes 15,490 21,369 70,183
Slide 38: 2025 Financial Highlights
COMPANY OVERVIEW 2025 Financial Highlights • Achieved 2025 guidance for gold output Three months ended Twelve months ended December 31, December 31, • 28,196 ounces in gold sales1 due to advancements made at Granite Creek, slightly offset by a lag in the timing of third- 2025 2024 2025 2024 party pr
Slide 39: 2026 Guidance
2026 Guidance COMPANY OVERVIEW Production(1) 2026 Guidance Granite Creek underground oz Au oz Au 30,000 - 40,000 Archimedes underground and residual heap leach 10,000 • Largely in line with Preliminary Economic Assessments filed March 2025 Operating costs • Increased processing costs related to the
Slide 40: Capital Overview
COMPANY OVERVIEW Capital Overview Rank Institution (as at February 19, 2026) S/O % Location TSX: IAU NYSE American: IAUX 1 Condire Management 9.6 United States Ticker Symbols CAD USD 2 Daniel Kaufman 7.0 Puerto Rico 3 Sprott Asset Management 4.2 Canada 52-Week Range $0.67 - $3.04 $0.48 - $2.24 4 The
Slide 41: Proven Track Record in Developing & Financing Mining Operations
TORONTO OFFICE Proven Track Record in Developing & Financing Mining Operations RICHARD YOUNG PAUL CHAWRUN DAVID SAVARIE LEILY OMOUMI KATERINA DELUCA CINDY TSEO President & Executive Vice President Executive Vice President Senior Vice President Senior Vice President Vice President Chief Executive Off
Slide 42: A Team With Deep Nevada Mining Experience
RENO OFFICE A Team With Deep Nevada Mining Experience RYAN SNOW TIM GEORGE TODD ESPLIN TYLER HILL MARK MILLER Executive Vice President Vice President Vice President Vice President Senior Vice President & Chief Financial Officer Operations Technical Services Geology Environmental & Permitting Form er
Slide 43: Experienced Board of Directors
Experienced Board of Directors RON CLAYTON RICHARD YOUNG JOHN BEGEMAN RON BUTLER JR. ARTHUR EINAV Chairman President & Director Director Director Chief Executive Officer, Director 40+ years ’ exploration, 30+ years’ operational & 40+ years’ operational & 30+ years ’ experience in audit, General Coun
Slide 44: Experienced Board of Directors
Experienced Board of Directors MICHAEL JALONEN CASSANDRA JOSEPH JOHN SEAMAN STEVEN YOPPS Director Director Director Director Nearly 40 y ears’ mining and capital 20+ years’ experience in corporate, 25 y ears’ experience in the public 35+ y ears’ operational, technical, project mark ets experience en
Slide 45: Mineral Resources Attributable to i-80 Gold Corp.
MINERAL RESOURCE ESTIMATE AS AT DECEMBER 31, 2024 Mineral Resources Tonnes Au Grade Ag Grade Au Ounces Ag Ounces Attributable to Measured (kt) (Au g/t) (Ag g/t) (koz) (koz) i-80 Gold Corp. Granite Creek – Open Pit(12) Granite Creek – Underground(10) 26,360 133 1.26 8.50 1,066 37 Lone Tree – Open Pit
Slide 46: Mineral Resources Defined by Underground & Open Pit Deposits
Mineral Resources Defined by Underground & Open Pit Deposits UNDERGROUND MINERAL RESOURCE ESTIMATE OPEN PIT MINERAL RESOURCE ESTIMATE Au Ag Au Ag Tonnes Au Grade Ag Grade Ounces Ounces Tonnes Au Grade Ag Grade Ounces Ounces (kt) (g/t Au) (g/t Ag) (koz) (koz) (kt) (g/t Au ) (g/t Ag) (koz) (koz) Measu
Slide 47: Nevada: Ranked #1 Jurisdiction Globally for Investment Attractiveness
Nevada Indonesia Nevada: Ranked #1 Jurisdiction Ontario Mexico Saskatchewan New Brunswick Sout Australia Utah Arizona Western Australia Idaho New Zealand Globally for Investment Botswana Norway Peru Columbia Attractiveness Sweden Colorado Saudi Arabia Papua New Guinea Finland Northwest Territories F
Slide 48: Capex Waterfall Comparison to 2023 Study
LONE TREE PLANT Capex Waterfall Comparison to 2023 Study CAPEX supported by ~14,000 cost line items in the control estimate Extensive engineering reviews, operating assessments, and trade-off studies completed to optimize project capital $500 $480 $460 $40M $440 $12M $430M $420 $20M $9M $17M Million
Slide 49: Refurbishment Timeline Tracking Well
LONE TREE PLANT Refurbishment Timeline Tracking Well Key Milestones to Construction and Commissioning i-80 GOLD CORP | 49
Slide 50: Endnotes
Endnotes 1) Consolidated gold output estimates and average annual gold output targets are based on the most recent LOM output schedules disclosed in the latest technical studies filed for each respective project and related property: Granite Creek underground project, Archimedes underground project,
Slide 51: Endnotes continued
Endnotes continued 10) Granite Creek Underground Project: Mineral resources have been estimated at a gold price of $2,175 per troy ounce; Mineral resources have been estimated using gold metallurgical recoveries ranging from 85.2 to 94.2% for pressure oxidation and 40-70% for carbon-in-leach (“CIL”)
Slide 52: Endnotes continued
Endnotes continued 16) Archimedes Open Pit: Mineral Resources have an effective date of December 31, 2024. Mineral Resources are the portion of Mineral Point that can be mined profitably by open pit mining method and processed by heap leaching. Mineral Resources are below an updated topographic surf
Slide 53: Non-GAAP Financial Performance Measures
Average realized gold price per Three months ended Year ended Non-GAAP Financial ounce of gold sold December 31, December 31, (in thousands of U.S. dollars, unless otherwise noted) 2025 2024 2025 2024 Consolidated Performance Measures Revenue Silver revenue Gold revenue 21,290 (3) 21,287 23,228 (53)
Slide 54: 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