I-80 Gold Corp · TSX:IAU
I-80 Gold — Investor Day (May 2023)
43 slides from I-80 Gold's investor day presentation, May 2023
Slide 1: Investor Day AGM – May 2023
INVESTOR DAY AGM – May 2023 MADE IN THE U.S.A. NYSE:IAUX | TSX:IAU
Slide 2: Disclaimer
DISCLAIMER Cautionary StatementRegardingForward LookingInformation 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, completion of refurbishment and developm
Slide 3: Management Participants
MANAGEMENT PARTICIPANTS EWAN DOWNIE MATT GILI RYAN SNOW MATT GOLLAT Chief Executive Officer & Director President & COO Chief Financial Officer Executive Vice-President i-80 GOLD CORP | 3
Slide 4: Superior Performance
SUPERIOR Our First Two Years PERFORMANCE U.S. Focused Growth Company PEER-BEST SHARE PERFORMANCE • Permitted: existing infrastructure allows the Company to pursue an aggressive 01 2021 – Up 29 %3 2022 – Up 22 % mine development plan • 2023 will see the ramp-up of operations at Granite Creek SUCCESS
Slide 5: Why Gold
WHY GOLD • During the 1990’s and 2000’s, Central Banks were generally selling gold reserves • Something changed in the last decade: • De-globalization • Challenges to the US$ as a reserve currency • Diversification away from US dollar due to its tendency to impose sanctions as a means of imposing it
Slide 6: Why Gold
WHY GOLD • Since 2000, gold has been one of the few currencies to have realized consistent gains averaging +9 % • Gold is the world’s only currency with: • No political attachment • No debt obligation • No printing press • Some consider gold as the world’s first currency that will likely also be its
Slide 7: Why Zinc
WHY ZINC • Primary use for zinc is galvanization of steel (60% of use) • Growing demand largely driven by wind turbines • 10 MWh offshore wind turbine requires 4 tonnes of zinc • 100 MWh solar power park requires 240 tonnes of zinc • Zn-ion batteries a safer alternative to Li-ion batteries (compatib
Slide 8: Central Nevada
CENTRAL NEVADA World’s Most Productive Gold District • Nevada was once again ranked as the world’s #1 most favourable mining jurisdiction by the Fraser Institute • The Carlin and Battle Mountain Trends in Central Nevada collectively represent the world’s most productive gold “district” • i-80 is the
Slide 9: Processing
PROCESSING Competitive Advantage • Lone Tree Facility • Positions i-80 as one of only three companies in Nevada with refractory processing capabilities • Strategically located facility, situated on Interstate 80 and proximal to the Central Nevada Railway • Ruby Hill Facility • Assessing the utilizat
Slide 10: U.S. Producer
U.S. PRODUCER Mineral Resources – Underground Category Tonnage Au Grade Gold Sequencing Two Processing facilities GRANITE CREEK (kt) (g/t) (Koz) MINE Measured & Indicated 1,008 10.40 337 • Three deposits being developed with processing at the Lone Tree facility Inferred 741 13.41 319 (autoclave) • U
Slide 11: Fundamentals
FUNDAMENTALS Nevada’s Premier Growth Company Nevada Only - M&I Resources (Moz Au) and Inferred Resources (Moz Au) • Second only to Nevada Gold Mines for gold resources contained within the M&I (Moz Au) Inferred (Moz Au) Carlin/Battle Mountain Trends • Targeting a significant increase in AuEq 15.2 re
Slide 12: Ruby Hill Mine
100% OWNED RUBY HILL MINE ONE OF NEVADA’S LARGEST DEPOSITS
Slide 13: Ruby Hill
RUBY HILL History of the Eureka District – Ruby Hill Property Eureka District - World Class Opportunity • 1864 – Discovery of CRD mineralization FAD Shaft • +150-year mining history • 1869 – Smelting technology developed to process oxide ores • Early mining (1864-1966) was primarily Carbonate Replac
Slide 14: Ruby Hill – Ultimate Optionality
RUBY HILL Ultimate Optionality • Multiple Deposit Types: • Refractory Gold (Ruby Deeps) • Oxide Gold Underground (426 Zone) • Oxide Gold Open Pit (Mineral Point) • Poly-Metallic CRD (Hilltop - FAD) • Skarn Base Metal (Blackjack) • Skarn (New Discovery) • Operating Heap Leach Facility • On-site Oxide
Slide 15: Ruby Deeps – Extensive System
RUBY DEEPS Extensive System RUBY HILL Holly-Helen Mines Reported grade: Blackjack Hilltop Discovery 0.23 oz/t Au, 28.7 oz/t Ag, +37% Pb TL Hilltop BR BLACKJACK • The Eureka District ranks as one of the T.L. Mine - Reported grade: 0.43 oz/t Au, 11.5 oz/t Ag, world’s highest-grade CRD districts 17% Pb
Slide 16: Ruby Hill – Hilltop Discovery
RUBY HILL Hilltop Discovery • Drilling has discovered both CRD & skarn sulphide mineralization in initial drilling testing along the Hilltop fault structure • Drilling in 2023 has extended mineralization along the Hilltop fault structure over a strike length of ~750 m – wide open for expansion • Mul
Slide 17: Hilltop Zones
HILLTOP ZONES • Upper Hilltop Zone: • Discovery of near-surface oxide & semi- massive to massive sulphide mineralization: • 515.3 g/t Ag, 28.9 % Pb, 10.5 % Zn & 0.9 g/t Au over 28.3 m • 60.2 g/t Au, 908.7 g/t Ag, 15.7 % Pb & 1.1 % Zn over 10.0 m • 1.9 g/t Au, 631.1 g/t Ag, 33.0 % Pb & 7.4 % Zn over
Slide 18: Development Plan
DEVELOPMENT PLAN Ramp Access • Permitting – two declines • Surface Infrastructure in the existing pit 426 • Currently assessing options for the Ruby Deposit Hill processing infrastructure Ruby Deeps Ramps Shop Portal Pad Pad Blackjack Deposit N Hilltop Zones 1. See Disclaimer for Notes, Forward-Look
Slide 19: Development Plan – Shared Infrastructure
DEVELOPMENT PLAN Multiple Deposits – Shared Infrastructure • Designing infrastructure to access both gold (Ruby Deeps & 426) and Upper Hilltop polymetallic base metal deposits (Blackjack & Hilltop) • Underground platforms will provide improved locations to target expansion of mineralized zones & red
Slide 20: Mineral Point
MINERAL POINT Hector Future Upside Opportunity • Large-scale Au-Ag deposit Achilles • Part of the Company’s 10-year plan with the potential to become i-80’s largest gold producing asset • Additional metallurgical testing and base line environmental work will be the next-stage projects Mineral Point
Slide 21: Paycore Minerals
Extensive System PAYCORE MINERALS Blackjack Hilltop Benefits to i-80: TL • Acquired the high-grade FAD deposit: • Historical Resource: 3,540,173 t @ 5.14 g/t Au, 196.46 g/t Ag, 8.0% Zn, 3.8% Pb4 Hilltop Fault • Located in close proximity to the Ruby Hill processing infrastructure and along Ruby Hill
Slide 22: Big Picture – District Consolidation
BIG PICTURE District Consolidation • Consolidated property will provide i-80 with 100% ownership of 5 km of the Long Section View Looking East FAD largely untested and highly-prospective Shaft structural trend (Hilltop corridor) Hilltop Historic Ruby Hill Reported grade: (Upper) 0.8 oz/t Au, 19.5 oz
Slide 23: FAD Deposit
FAD DEPOSIT Gold Hill Upside • One of the world’s premier polymetallic deposits, wide open for expansion • Remains open to the east • Unsampled core from Paycore drilling in 2022 identified multiple high-grade intercepts in an “upper” horizon: • 8.3 m @ 3.1 g/t Au, 397.2 g/t Ag, 7.4% Pb & 18.9% Zn •
Slide 24: Gold Hill Deposit
GOLD HILL DEPOSIT Open Pit Opportunity • The historic Gold Hill (Ruby Hill) Mine is one of Nevada’s highest-grade mines with grades of 28.5 g/t Au, 668.5 g/t Ag & +15 % Pb FAD • Paycore drill tested the potential for an open pit in the vicinity of the historic PC22-02 mine – intersecting two zones:
Slide 25: The Opportunity – Analogue LaRonde Mine
THE OPPORTUNITY Analogue - LaRonde Mine (Agnico Eagle) • LaRonde is one of Agnico’s flagship operations - in production since 1988 $3.50 • Widely regarded as one of the world’s premier polymetallic mines with an average grade of 4.66 g/t Au, 20.81 g/t Ag, 1.24% Zn & 0.27% Cu • FAD - Historical Resou
Slide 26: FAD Deposit – Copper?
Total magnetics FAD DEPOSIT 3000’ depth slice Copper? FAD • Recent exploration drilling to the south of FAD has resulted in the discovery of Copper/Moly skarn mineralization associated with magnetite • Intercept located near confluence of Jackson and Ruby Hill faults • Magnetic data suggests sizeabl
Slide 27: Ruby Hill – Ruby Deeps / 426 Zone
RUBY HILL Ruby Deeps / 426 Zone • 2022 drill program focused on defining mineralization in the Ruby Deeps and 426 Zones for mine planning • Drilling in 2023 will target expansion of gold resources in the Ruby Deeps and 428 Zones • Drilling recently intersected Ruby Deeps approx. 200 m south of previ
Slide 28: Ruby Hill – Ruby Deeps / 426 Zone
RUBY HILL Ruby Deeps / 426 Zone • Impressive grades & widths - open for expansion to the north, south and east • Lower grade oxide mineralization in the upper parts of the 426 Zone could be mined and processed on the leach pad at Ruby Hill • Sulphide mineralization trucked to Lone Tree for processin
Slide 29: Ruby Hill – 428 Zone
RUBY HILL 428 Zone • 2022 drill program tested for high- grade mineralization in the 428 target, following up on historic hole HPC-1428 that intersected 15.0 g/t Au over 5.5 m • First hole drilled by i-80 to test this target (iRH22-65) returned 12.3 g/t Au over 10.7 m • Additional drilling will be c
Slide 30: Cove Mine
100% OWNED COVE MINE ONE OF NEVADA’S HIGHEST-GRADE DEPOSITS
Slide 31: McCoy-Cove
MCCOY-COVE Mineral Resources2 Tonnage Au Grade Ag Grade Gold Silver Advanced Exploration Program (kt) (g/t) (g/t) (koz) (koz) • Current program includes driving a decline and completing underground Indicated 1,007 10.9 29.1 351 943 drilling (~40,000 m program) in Inferred 3,867 10.9 20.6 1,353 2,565
Slide 32: McCoy Cove – Operations Summary
MCCOY COVE Operations Summary • Nearing completion of northern drift and resuming southern drift • Primary development: 4,280 ft completed - 1,262 remaining (at end of April). • In-fill drilling commenced Q4-2022 with positive initial results in first four holes: • 6.6 g/t Au over 6.0 m (iCHU23-01)
Slide 33: Granite Creek Mine
100% OWNED GRANITE CREEK MINE NEVADA’S NEWEST HIGH-GRADE GOLD MINE
Slide 34: Granite Creek
GRANITE CREEK • Located at the Intersection of the Getchell and Battle Mountain Trends immediately South of NGM’s Twin Creeks and Turquoise SIGNIFICANT UNDERGROUND AND OPEN PIT Ridge mining operations RESOURCES • NGM interim processing agreement allows i- 80 to advance mine development with an Miner
Slide 35: Granite Creek – South Pacific Zone
GRANITE CREEK South Pacific Zone • The SPZ Zone remains open at depth and along strike to the north • Grades consistently in excess of 10 g/t Au over expected mine widths • High-grade intercepts in historic hole HPC-175 a further 400 m to the north suggest the potential to extend the Summer Camp str
Slide 36: Granite Creek – Gold Production, Ogee Zone
GRANITE CREEK Gold Production - Ogee Zone • Current production primarily from top cuts in the Ogee Zone and remnant mining of the Otto Zone • Proceeding cautiously on top cuts – learning the ore envelopes, extensive cover drilling and sampling of each individual round • Knowledge learned from top cu
Slide 37: Granite Creek – Development and Ramp Up
GRANITE CREEK Development and Ramp Up • Top priority is driving the main decline allowing development of multiple new levels • Contractor has mobilized additional equipment to facilitate expansion of the mine – demonstrated by steady increase in total mined footage • Currently developing the fourth
Slide 38: Granite Creek – South Pacific Zone
GRANITE CREEK South Pacific Zone • New zone discovered in 2021 • Potential to fill in some of the Gaps in the Ogee and South Pacific Zones with additional drilling • Modest surface and underground drill programs planned in 2023 to increase resources and improve drill density for mine planning 100 m
Slide 39: Summary
SUMMARY GROWTH EXECUTING OUR CAPITAL ALLOCATION STRATEGY Organic growth platform with a goal of Executing a plan to grow reserves & Prioritize reserve increases and mine becoming Nevada’s 2nd largest gold resources, production, and cash flow development with minimal share dilution producer with sust
Slide 40: Contact Us
CONTACT US 1.866.525.6450 WWW.i80GOLD.COM Ewan Downie Matthew Gili Ryan Snow Matthew Gollat CEO & Director President & COO Chief Financial Officer EVP Corporate & Business Development i-80 GOLD CORP | 40
Slide 41: Environment, Sustainability, Governance
ENVIRONMENT, SUSTAINABILITY, GOVERNANCE i-80 Gold is committed to sustainable development and environmental stewardship during exploration and extraction of mineral resources. As we continue to grow our team and our operations, we prioritize safety and improving the social, economic, and environment
Slide 42: Company Snapshot
COMPANY SNAPSHOT Analyst Coverage CAPITAL STRUCTURE1 Shares Issued and Outstanding 245,603,313 Warrants 17,211,152 Options 9,527,123 RSU’s/DSU’s 1,460,045 Fully Diluted 273,801,633 1. As at March 31, 2023 2. See Disclaimer for Notes and Forward-Looking Statements i-80 GOLD CORP | 42
Slide 43: Mineral Resources
MINERAL RESOURCES MINERAL RESOURCES1,2,3,4,5,6 Tonnes Au Grade Ag Grade Au Ounces Ag Ounces (kt) (Au g/t) (Ag g/t) (Koz) (Koz) Mineral Resources Attributable to i-80 Gold Corp. Measured Granite Creek - Open Pit 20,857 1.47 988 Granite Creek - Underground 483 10.07 156 Lone Tree - Open Pit McCoy-Cove