I-80 Gold Corp · TSX:IAU
I-80 Gold — Q3 2025 Earnings Presentation
19 slides from I-80 Gold's earnings presentation, Nov 13, 2025
Slide 1: Creating a Nevada-Focused, Mid-Tier Gold Producer
NYSE:IAUX | TSX:IAU 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 Q3 2025 Conference Call & Webcast November 13, 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: Q3 2025 Marks 12 Months of Progress on i-80's New Development Plan
Q3 2025 MARKS 12 MONTHS OF PROGRESS ON i-80’S NEW DEVELOPMENT PLAN Visible Progress Towards Key Milestones ✓ Granite Creek underground continues to advance, with mined grades and tonnage reconciling well to the geological model, and improving groundwater management Q3 ✓ Archimedes underground commen
Slide 4: Building an i-80 Gold That Reflects Operational Excellence and Our Values
BUILDING AN i-80 GOLD THAT REFLECTS OPERATIONAL EXCELLENCE AND OUR VALUES Recognizing the Power of People and Culture in Creating Long-term Value ✓ Leveraging local talent in one of the best mining jurisdictions in the world – hired strong talent in engineering, geology, construction management, per
Slide 5: Granite Creek Underground Development Benefits from Improved Dewatering Infrastructure
GRANITE CREEK UNDERGROUND DEVELOPMENT BENEFITS FROM IMPROVED DEWATERING INFRASTRUCTURE Q3 Mining Activity in the Ogee Zone • Oxide material: ~15,000 tonnes at 9.8 g/t Au and ~15,000 tonnes of 2.95 g/t • Sulfide material: ~20,000 tonnes at 10.7 g/t Au • 7,400 ounces and 16,400 ounces of gold sold for
Slide 6: Granite Creek Underground Potential for Expansion in the South Pacific Zone
GRANITE CREEK UNDERGROUND POTENTIAL FOR EXPANSION IN THE SOUTH PACIFIC ZONE 40 Holes Planned For ~14,000 Meters (In Progress) • Underground exploration drift now complete providing access for infill and step-out drilling in the prospective South Pacific Zone • ~10,000 meters of core drilling complet
Slide 7: Archimedes Underground Development Is Advancing Above Expectations
ARCHIMEDES UNDERGROUND UNDERGROUND DEVELOPMENT IS ADVANCING ABOVE EXPECTATIONS Construction of Underground Portal Commenced in Q3 • Permitting for upper Archimedes above 5100’-level complete • Underground development reaching – ~300 feet at the end of the third quarter – >1000 feet of drift advance
Slide 8: Cove Underground Infill Drilling Confirms High-Grade Mineralization
COVE UNDERGROUND INFILL DRILLING CONFIRMS HIGH-GRADE MINERALIZATION Drilling Conducted Across The Gap And Helen zones • ~41,000 meters of infill drilling completed on 30-meter spacing across the Gap and Helen zones – strengthened geological understanding to improve confidence in continuity and grade
Slide 9: Mineral Point Open Pit Potential to Become i-80's Largest Producing Asset
MINERAL POINT OPEN PIT POTENTIAL TO BECOME i-80’S LARGEST PRODUCING ASSET 2025 Focus: Baseline Studies in Preparation For Permitting Applications • Infill drilling commenced in June for baseline data to initiate permitting and next-stage technical studies • Engineering work continues to progress to
Slide 10: Granite Creek Open Pit Ongoing Technical Trade Off Analyses
GRANITE CREEK OPEN PIT ONGOING TECHNICAL TRADE OFF ANALYSES TO OPTIMIZE ECONOMICS GRANITE CREEK OPEN PIT LAYOUT Technical Baseline Work Underway To Advance The Project Toward a Pre-feasibility or Feasibility Study • Initial project narrative was provided to regulatory authorities in Q3 to initiate f
Slide 11: Lone Tree Plant Early Works Advancing on Schedule
LONE TREE PLANT EARLY WORKS ADVANCING ON SCHEDULE Feasibility-level Class 3 Engineering Study Nearing Completion To Refurbish The Plant • Refurbishment study updates 2023 internal feasibility study to incorporate – design optimizations – value engineering initiatives – filtered tailings system – upd
Slide 12: Q3 Financial Highlights
Q3 FINANCIAL HIGHLIGHTS • 9,368 ounces in gold sales, nearly doubled from the prior year period • ~3,400 ounces of gold in finished goods inventory at quarter end due to timing of sales • ~$32M in total revenue, an increase driven by – higher ounces sold – higher average realized gold price of $3,41
Slide 13: Executing on Our Recapitalization Plan
EXECUTING ON OUR RECAPITALIZATION PLAN 1 STRENGTHENED THE BALANCE SHEET TO FUND NEAR-TERM GROWTH 2 ADDRESS FURTHER RECAPITALIZATION PRIORITIES AND FUND LONG-TERM GROWTH • ~$200M raised through bought-deal and private • Targeting $350M - $400M in financing placements in 2025 • Repay upcoming converti
Slide 14: Near-Term Catalysts
TECHNICAL STUDIES NEAR-TERM CATALYSTS ❑ Lone Tree refurbishment engineering study – Q4 2025 12 -18 MONTHS ❑ Granite Creek Underground (FS) – Q1 2026 ❑ Cove underground (FS) – Q1 2026 ❑ Granite Creek open pit (PSF/FS) – Timeline under review ❑ Archimedes underground (FS) – Q1 2027 ❑ Mineral Point ope
Slide 15: Q&A
Q&A
Slide 16: Appendix
APPENDIX
Slide 17: Non-GAAP Financial Performance Measures
NON-GAAP FINANCIAL PERFORMANCE MEASURES The Company has included certain terms or performance measures commonly used in the Average realized gold price per ounce of gold sold1 mining industry that are not defined under US GAAP in this document. These include adjusted loss, adjusted loss per share, a
Slide 18: Non-GAAP Financial Performance Measures Continued
NON-GAAP FINANCIAL PERFORMANCE MEASURES CONTINUED Definitions Adjusted loss1 "Adjusted loss” and “adjusted loss per share” are non-GAAP financial performance measures Adjusted loss and adjusted loss per share exclude a number of temporary or one-time items detailed in that the Company considers to b
Slide 19: Endnotes
ENDNOTES 1) Consolidated production estimates and average annual production targets include the Cove Project, Archimedes Underground Project, Mineral Point Open Pit Project, Granite Creek Underground Project, and Granite Creek Open Pit Project and are based on the most recent life-of-mine production