I-80 Gold Corp · TSX:IAU
I-80 Gold — Investor Presentation (October 2026)
56 slides from I-80 Gold's investor presentation, October 2026
Slide 1: Creating a Nevada-Focused, Mid-Tier Gold Producer
CREATING A NEVADA- FOCUSED, MID- TIER GOLD PRODUCER NYSE: IAUX | TSX: IAU October 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: Building a Mid-Tier Gold Producer
COMPANY OVERVIEW Building a Mid-Tier Gold Producer GRANITE CREEK • Granite Creek Underground Industry-Leading Pipeline of Gold Projects • Granite Creek Open Pit • 4 brownfield gold projects with existing infrastructure • 1 autoclave plant fed by 3 underground projects LONE TREE PLANT • Construction
Slide 4: Large Resource Base With All Deposits Open For Expansion
COMPANY OVERVIEW Large Resource Base With All Deposits Open For Expansion Proven & Probable Reserves Measured & Indicated Resources Inferred Resources Underground Projects 0.56Moz @ 7.87 g/t Au 1.6Moz @ 7.47 g/t Au 2.3Moz @ 7.99 g/t Au Open Pit Projects 5.7Moz @ 0.63 g/t Au 5.0Moz @ 0.62 g/t Au TOTA
Slide 5: Updated Development Pipeline
COMPANY OVERVIEW Updated Development Pipeline Establish a Hub-and-Spoke Mining and Add Large-Scale Heap Add Second Oxide Future Refractory Processing Platform Around Lone Tree Plant Leach Operation Growth Project Lone Tree Feed Production Construction PFS & Future Future Pre-Permitting Development D
Slide 6: Establishing a Scalable Multi-Asset Mid-Tier Gold Producer
COMPANY OVERVIEW Establishing a Scalable Multi-Asset Mid-Tier Gold Producer Anticipated Average Annual Gold Output(1) 600 500koz - 600koz(1) 500 400koz – 500koz(1) Gold Production (koz) 400 300 200 150koz – 200koz(1) 100 0 2028E – 2029E 2031E+ Early to Mid-2030s GRANITE CREEK UNDERGROUND + MINERAL P
Slide 7: Significant Value Embedded Across i-80 Gold's Asset Portfolio
COMPANY OVERVIEW Significant Value Embedded Across i-80 Gold’s Asset Portfolio Trading at a Significant Discount to Project NPV and Growth Potential Base Case Sensitivity Avg. Gold Project Study Production per Production Gold Price After-tax Gold Price After-tax Start (/oz) NPV(5%)(1,2) IRR (/oz Au)
Slide 8: 5-Year Development Plan
COMPANY OVERVIEW 5-Year Development Plan Targeting annual gold production of 400,000 - 500,000 ounces Latest & Upcoming 2026 2027 2028 2029 2030 2031 2032+ Economic Studies Granite Creek TOLL MILL / STOCKPILE Q1 2025 – PEA (update from 2021) PRODUCTION Q3 2026 – Feasibility Study(22) Underground
Slide 9: Recapitalization Plan Completed Q1 2026
COMPANY OVERVIEW Recapitalization Plan Completed Q1 2026 Funded Development Plan >$1B ~$165M ~$465M Fully Funded(1,19) Secured & Available Existing Debt Retired(8) Cash Balance • 2 underground projects (Granite Creek & Archimedes) Capital(19) (March 2026) (as at June 30, 2026) • Lone Tree Plant refu
Slide 10: Near-Term Catalysts
COMPANY OVERVIEW ARCHIMEDES UNDERGROUND Near-Term Catalysts First gold mined — Q4 2026 12 - 18 Months LONE TREE PLANT Commence construction — Q4 2026 Completion of detailed engineering — Late Q1 2027 Filtration plant completion — Early Q4 2027 First gold pour — Q4 2027 TECHNICAL STUDIES
Slide 11: i-80 Gold: Positioned For a Re-Rating
i-80 Gold: Positioned For a Re-Rating WHY US WHY NOW 1 Tier-1 Pro-Mining Jurisdiction 1 Funded Development Plan One of the Largest Gold & Silver Execution Plan 2 Resource Holders in Nevada 2 Largely on Track Organic Growth Compelling 3 to Mid-Tier Status 3 Valuation Disconnect i-80 GOLD CORP | 11
Slide 12: Granite Creek Property
Granite Creek Property Twin Creeks 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’ Turquoise Ridge Complex which currently hosts ~19Moz of gold resources(8) 10 km South Pacific Situated at t
Slide 13: Granite Creek Underground Feasibility Study Highlights
GRANITE CREEK UNDERGROUND FEASIBILITY STUDY HIGHLIGHTS(22) Mine Life Status Operating (ramp up) ~8.5 years Average Annual Gold Production (2028-2032 Post Lone Tree Commissioning) Proven & Probable Reserve(10) ~75koz @ AISC $1,915/oz* (11) 557koz @ 7.87 g/t Au Excludes Lone Tree Capital Allocation $2
Slide 14: i-80 Gold's First Underground Gold Mine
GRANITE CREEK UNDERGROUND i-80 Gold’s First Underground Gold Mine Currently Ramping Up Production Resources & Reserves in Ogee & South Pacific Zones • Achieved 2025 guidance with 22,977oz Au (plus sulfide stockpile of ~6,500 oz of recovered gold*) • Ahead of mine plan on main decline and lateral dev
Slide 15: Significant Potential for Continued Resource Expansion
GRANITE CREEK UNDERGROUND Significant Potential for Continued Resource Expansion South Pacific Zone Remains Open at Depth and Along Strike • Initial drill spacing of ~140 ft; staged reduction planned to increase geological iGU25-24 15.0 g/t Au – 17.5 m understanding iGU25-31 40.4 g/t Au – 13.2 m • D
Slide 16: Production & Cash Flow Expected to Rise After Autoclave Restart
GRANITE CREEK UNDERGROUND Production & Cash Flow Expected to Rise After Autoclave Restart FEASIBILITY STUDY HIGHLIGHTS (compared to March 2025 PEA) KEY OPERATING & FINANCIAL METRICS(22) • Larger mineable inventory – upgraded a portion of existing mineral resources $2,750/oz gold price assumption int
Slide 17: Granite Creek Open Pit
GRANITE CREEK OPEN PIT Status Technical Studies & Permitting Measured & Indicated Resource(12) 1.6Moz @ 0.97 g/t Au Inferred Resource(12) 100koz @ 0.81 g/t Au Next Planned Technical Study Timing under review Excludes Granite Creek Open Pit Mine Plan Economics: The Granite Creek Property technical st
Slide 18: 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 adjacent
Slide 19: 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 | 19
Slide 20: Archimedes Underground PEA Highlights
ARCHIMEDES UNDERGROUND PEA HIGHLIGHTS Status Mine Life Construction ~10 years Indicated Mineral Resource(13) Average Annual Gold Production (following ramp-up) 436koz @ 7.6 g/t Au ~100koz @ AISC $1,893/oz (11) Inferred Resource(13) $2,175/oz Gold Price 988koz @ 7.3 g/t Au After-Tax NPV(5%)(2) After-
Slide 21: i-80's Second Planned Underground Mine
ARCHIMEDES UNDERGROUND i-80’s Second Planned Underground Mine Longitudinal Section of Mineralized Bodies Development Advancing on Schedule • Development ahead of PEA rates reaching ~10,250 ft (>20 ft/day) • Permitted for Upper Archimedes above 5100’-level; finalizing approvals for Lower Archimedes A
Slide 22: Upper 426 Zone Delivers High-Grade Infill Results
ARCHIMEDES UNDERGROUND Upper 426 Zone Delivers High-Grade Infill Results Upper Archimedes Cross-Section Upper 426 Zone Drilling Completed April 2026 • ~8,500 m across 40 drill holes to better define 426 zone • Recent assay results – returned high-grade intercepts in targeted drill areas consistent w
Slide 23: High-Tonnes Low-Cost Operation
ARCHIMEDES UNDERGROUND High-Tonnes 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 Producti
Slide 24: Mineral Point Open Pit PEA Highlights
MINERAL POINT OPEN PIT PEA HIGHLIGHTS Mine Life Status Exploration & Permitting ~17 years Average Annual Gold Equivalent Production (following ramp-up) Indicated Mineral Resource(14) 3.4Moz @ 0.48 g/t Au ~280koz @ AISC $1,400/oz (11) 104.3Moz @ 15.0 g/t Ag $2,175/oz Gold Price $27.25/oz Silver Price
Slide 25: 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 2026 Drill Hole Locations • $50M of committed Franco-
Slide 26: Ongoing 2026 Infill and Step-Out Drilling
2026 Drill Hole Locations MINERAL PONT OPEN PIT Ongoing 2026 Infill and Step-Out Drilling Initial Step-Out Drilling Demonstrates Potential to Expand the Mineralized Footprint • Infill results align with expectations and confirm deep oxidation consistent with the geological model • Initial step-out r
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 • Housing and
Slide 28: Cove Underground PEA Highlights
COVE UNDERGROUND PEA HIGHLIGHTS Status Mine Life Technical Studies & Permitting ~8 years Indicated Gold Resource(15) Average Annual Gold Production (following ramp-up) 310koz @ 8.2 g/t Au ~100koz @ AISC $1,303/oz (11) Inferred Resource(15) $2,175/oz Gold Price 1.16Moz @ 8.9 g/t Au After-Tax NPV(5%)(
Slide 29: Future Source of Refractory Feed to The Lone Tree Plant
COVE UNDERGROUND Future Source of Refractory Feed to The Lone Tree Plant • Located immediately south of Nevada Gold Mines’ Current Mine Plan Includes Helen & Gap Deposits Phoenix Cu-Au Mine; ~85 km to Lone Tree autoclave • Ongoing work is focused on: – revising the mine plan, sequence optimization,
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 • Several underground exploration targets to be fol
Slide 31: Refurbishment on Plan for First Gold Pour Target
LONE TREE PLANT Refurbishment on Plan for First Gold Pour Target One of Two Nevada Gold Companies With an Autoclave Eliminates Reliance on Shift to Owner-Operated Funding Secured & Processing Expected to Costly Third-Party Construction Decision Significantly Increase Processing Margins Granted Q1 20
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 Completed Q4 2025 Plant Capacity Design Throughput ~2,250 tpd Invested three years of engineering work ~$13M for the study through its evolving phases Plant Availability 85% Annual Throughput ~825,000 tpa Proces
Slide 33: Scope of Work – Demolition Commenced June 2026
LONE TREE PLANT Scope of Work – Demolition Commenced June 2026 as Planned Material Feed Tailings Transfer Refurbishment Upgrades are Pad Expected to: Tailings • Improve process efficiency and Filtration operating flexibility • Potentially increase gold recoveries • Meet new environmental compliance
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 • Extensive engineering reviews, operating assessments, and Tailings Filtration $50 trade-off studies completed to Reagents and Utilities $39 – opti
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 = LoneTree Plant § <a — ae,
Slide 37: Q2 2026 Financial Highlights
COMPANY OVERVIEW Q2 2026 Financial Highlights Three months ended • Gold production of ~11,100 oz due to advancements made March 31, at Granite Creek 2026 2025 • Gold sales2 of ~5,300 oz, less than gold produced due to Revenue $000s 24,348 27,836 timing and availability of third-party processing Gros
Slide 38: Q2 2026 Operating Highlights
GRANITE CREEK UNDERGROUND Q2 2026 Operating Highlights Three months ended Granite Creek Property June 30, Operational Statistics 2026 2025 Oxide mineralized material mined 12,039 24,074 Main Decline and Lateral Development Ahead of Mine Plan tonnes Sulfide mineralized material mined tonnes 13,568 11
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 of October 6, 2026 S/O % Location As of October 6, 2026 1 Condire Management 9.5 United States 2 Libra Advisors LLC 7.4 United States TSX: IAU NYSE American: IAUX Ticker Symbols CAD USD 3 Daniel Kaufman 6.0 Puerto Rico 4 Sprott Asset Management 4
Slide 41: Proven Track Record in Developing & Financing Mining Operations
TORONTO OFFICE Proven Track Record in Developing & Financing Mining Operations RICHARD Former President & CEO of Teranga Gold, leading its KATERINA 20+ years of experience in financial reporting and analysis, tax, YOUNG growth and acquisition strategy. DELUCA treasury, financing and M&A, special
Slide 42: A Team With Deep Nevada Mining Experience
RENO OFFICE A Team With Deep Nevada Mining Experience RYAN SNOW Former VP of Finance at Nevada Copper supporting MARK MILLER Over three decades of experience leading environmental EVP & CFO development of the Pumpkin Hollow mine. SVP management programs across multiple industries, including mini
Slide 43: Board of Directors: Expertise in Mining, Technical, Capital Markets and Finance
BOARD OF DIRECTORS Expertise in Mining, Technical, Capital Markets and Finance RON CLAYTON 40+ years of exploration, development, construction and RON BUTLER JR. 30+ years of experience in audit, financial and strategic planning, Chairman mine operation experience Director operational excellence
Slide 44: Board of Directors continued
BOARD OF DIRECTORS Expertise in Mining, Technical, Capital Markets and Finance continued MICHAEL Nearly 40 years of mining and capital markets STEVEN YOPPS 35+ years of operational, technical, project development, and JALONEN experience Director regulatory experience Nevada Director 30 years a
Slide 45: Mineral Resources Attributable to i-80 Gold Corp.
MINERAL RESOURCE ESTIMATE Mineral Resources Tonnes (kt) Gold Grade (Au g/t) Silver Grade (Ag g/t) Gold Ounces (koz) Silver Ounces (koz) Attributable to Proven Granite Creek – Underground(10)(20)* 308 8.13 81 i-80 Gold Corp. Probable Granite Creek – Underground(10)(20)* 1,890 7.83 476 TOTAL PROVEN &
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 Gold Silver Gold Silver Gold Silver Gold Silver Tonnes Grade Grade Ounces Ounces Tonnes Grade Grade Ounces Ounces (kt) (g/t Au) (g/t Ag) (koz) (koz) (kt) (g/t Au ) (g
Slide 47: Up to $500M Financing Package Secured
COMPANY OVERVIEW Up to $500M Financing Package Secured Closed Q1 2026 $250M Gold Prepayment Facility with $250M Franco-Nevada Royalty National Bank & Macquarie Bank Available at closing $225M $25M allocated to accelerate Mineral Point $150M Initial drawdown at closing(6) feasibility study and permit
Slide 48: Executing Across The Business & Repositioned For Growth
COMPANY OVERVIEW Executing Across The Business & Repositioned For Growth New Development Plan Established a three-phase plan to advance all five gold projects and one processing facility, targeting ~600,000 2024 oz Au in average annual output in the early 2030s(1) Completed PEAs For All Five Proje
Slide 49: Nevada: Ranked #1 Jurisdiction Globally for Investment Attractiveness
Nevada Indonesia Nevada: Ranked #1 Jurisdiction Ontario Mexico Saskatchewan New Brunswick South 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
Slide 50: 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 $400 $8
Slide 51: Refurbishment Timeline Tracking Well
LONE TREE PLANT Refurbishment Timeline Tracking Well Key Milestones to Construction and Commissioning Anticipateded timeline i-80 GOLD CORP | 51
Slide 52: Endnotes
Endnotes 1) Based on capital costs, gold output estimates and average annual gold output targets in the most recent life of mine gold output schedules disclosed in the latest technical studies filed for each respective project and related property: the Lone Tree Facility, Granite Creek underground,
Slide 53: Endnotes continued
Endnotes continued 9) Granite Creek Underground: Notes to Mineral Resources effective March 31, 2026: Reported underground and open pit mineral resources for the Granite Creek Property are 100% attributable to the Company with the exception of a fee parcel and certain unpatented mining claims, which
Slide 54: Endnotes continued
Endnotes continued 14) Mineral Point Open Pit: Mineral resources have an effective date of December 31, 2024. Mineral resources are not mineral reserves and do not have demonstrated economic viability. Mineral resources are the portion of Mineral Point that can be mined profitably by open pit mining
Slide 55: Non-GAAP and Supplemental Financial Performance Measures
Non-GAAP and Supplemental Financial Performance Measures The Company has included certain terms or performance measures commonly used in the "Adjusted loss” and “adjusted loss per share” are non-GAAP financial performance measures that the mining industry that are not defined under US GAAP in this d
Slide 56: For Further Information, Please Contact
NYSE: IAUX | TSX: IAU FOR FURTHER INFORMATION, PLEASE CONTACT: 1.866.525.6450 INFO@i80GOLD.COM WWW.i80GOLD.COM