I-80 Gold Corp · TSX:IAU
I-80 Gold — Q4 2024 Earnings Presentation
21 slides from I-80 Gold's earnings presentation, Apr 1, 2025
Slide 1: Creating a Nevada-Based, 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 - B A S E D , M I D -T I E R G O L D P RO D U C E R Q4 2024 Conference Call & Webcast April 1, 2025
Slide 2: Disclaimer
DISCLAIMER 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 regarding preliminary economic assessment results
Slide 3: Speakers
SPEAKERS RICHARD YOUNG MATT GILI RYAN SNOW Chief Executive Officer & President & Chief Financial Officer Director Chief Operating Officer i-80 GOLD CORP | 3
Slide 4: A New Strategy for a Stronger Tomorrow
A NEW STRATEGY FOR A STRONGER TOMORROW Q4 2024: Announced New Development Q1 2025: Technical Reports Filed Under New Life of Mine Economics Improve Plan For Gold Asset Portfolio Two Regulatory Requirements Disclosure and Clarity • Advance three underground projects • Four prepared under S-K 13
Slide 5: Mine Plan Updates Highlight Capital Needs to Support Growth
MINE PLAN UPDATES HIGHLIGHT CAPITAL NEEDS TO SUPPORT GROWTH Expect Base Case Scenarios in PEAs Project Pipeline Valued at $2B+ at Gold Price of $2,175/oz to Improve • Expect improved economics through additional drill programs aimed at extending After-tax NPV(5%)(11) Average Annual Production the li
Slide 6: Recapitalization Timing Now Linked to Autoclave Study Completion
RECAPITALIZATION TIMING NOW LINKED TO AUTOCLAVE STUDY COMPLETION Recapitalization Timeline Extended to Latest & Upcoming Economic Studies H2 2025 With Addition of Autoclave Study • Require feasibility for three of our five gold Timing projects, as well as the class III engineering study on the autoc
Slide 7: Safety & Environmental Performance
SAFETY & ENVIRONMENTAL PERFORMANCE Lost Time Injury Frequency Rate of 1.27 • Safety performance improved dramatically during 2024 • Committed to year-over-year reductions in injury frequency rate Fourth Consecutive Year Without an Environmental Violation • Never received an environmental notice sinc
Slide 8: Operations Update: Granite Creek Underground
Granite Creek Underground OPERATIONS UPDATE Operational Statistics Three months ended December 31, Year ended December 31, 2024 2023 2024 2023 Oxide mineralized material mined tonnes 21,369 20,839 62,789 48,573 Granite Creek Underground Sulfide mineralized material mined tonnes 8,148 12,192 27,338 3
Slide 9: Archimedes Underground: Construction Expected to Begin Q3 2025
ARCHIMEDES UNDERGROUND: CONSTRUCTION EXPECTED TO BEGIN Q3 2025 Underground Permitting Activities Continued in Q4 Ruby Hill (Archimedes Underground Project) Three months ended Year ended • Received record of decision from the Bureau of December 31, December 31, Land Management in Q1 2025 to commence
Slide 10: Advancing Permitting and Feasibility Work
ADVANCING PERMITTING AND FEASIBILITY WORK BASE CASE SCENARIOS EXPECTED TO SEE IMPROVED ECONOMICS AS THEY ADVANCED TOWARDS THE FEASIBILITY STAGE 2025 Permitting Progresses Feasibility Study Work in 2025 at Remaining Properties Expected to Derisk Projects • Archimedes underground: State permits in • B
Slide 11: Exploration
EXPLORATION Granite Creek Underground • 2024 Program: Drilled +100,000 feet in 2024 mainly at Granite Creek and Cove • Finalizing the infill drill program to advance Underground to • 2025 Program: Modest and strategically focused for maximum feasibility study and the step out of the South Pacific Zo
Slide 12: Transition from IFRS to US GAAP as of January 1, 2025
TRANSITION FROM IFRS TO US GAAP AS OF JANUARY 1, 2025 CERTAIN PRE-DEVELOPMENT COSTS NOW EXPENSED VS CAPITALIZED UNTIL MINERAL RESERVES DECLARED • Change to US GAAP applied retrospectively to 2024 financial statements and all comparatives were restated accordingly • Form 10-K will serve as primary di
Slide 13: Financial Highlights
FINANCIAL HIGHLIGHTS MANAGING OVERALL MINING COSTS WELL DURING REDUCED UNDERGROUND ADVANCEMENT RATES AT GRANITE CREEK • Gold sales of ~9,050 oz and ~21,500 oz for Three months ended Year ended Q4 and FY 2024, respectively. Lower YoY December 31, December 31, due to 2024 2023 2024 2023 Revenue $000s
Slide 14: Undertook Financing Initiatives to Support Development Plans
UNDERTOOK FINANCING INITIATIVES TO SUPPORT DEVELOPMENT PLANS Entered Into Two Financial Arrangements To Enhance Near-term Liquidity And Balance Sheet Flexibility, Alongside Ongoing Efforts To Secure Capital Three Key Growth Expenditures Over The Next Three Years To Support Broader Development Strate
Slide 15: Q&A
Q&A i-80 GOLD CORP | 15
Slide 16: Key Value Drivers for i-80 Gold
KEY VALUE DRIVERS FOR i-80 GOLD Proven Nevada High-Grade Organic Strategic Strategic Recapitalization Mining Expertise Growth Pipeline Hub-and-Spoke & Financial Minimizes Operating and & Resource Expansion Mining and Restructuring Plan Execution Risk Potential on Brownfield Sites Processing Model fo
Slide 17: Appendix
APPENDIX
Slide 18: 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 sold mining industry that are not defined under US GAAP in this document. This includes average Three months ended Year ended real
Slide 19: Mineral Resources
MINERAL RESOURCES(12,13,14,15,16,17,18) MINERAL RESOURCES Tonnes (kt) Au Grade (Au g/t) Ag Grade (Ag g/t) Au Ounces (Koz) Ag Ounces (Koz) Mineral Resources Attributable to Measured i-80 Gold Corp. Granite Creek – Open Pit 26,360 1.26 1066 Granite Creek – Underground 133 8.5 37 Lone Tree – Open Pit C
Slide 20: Endnotes
ENDNOTES (1) Consolidated production estimates for Cove Underground Project, Archimedes Underground Project, Mineral Point Open Pit Project, Granite Creek Underground Project, and Granite Creek Open Pit Project are based on the most recent life-of-mine production schedules disclosed in the latest Pr
Slide 21: Endnotes Continued
ENDNOTES CONTINUED 14) 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”