i-80 Gold Corp. Announces Closing of Gold Prepay and Silver Purchase Portions of US$135 Million Financing Package for Nevada-Focused Mining Complex

(i)

$45 million gold prepay purchase and sale agreement entered into with affiliates of Orion, as amended by a first amending agreement entered into subsequent to the December 14, 2021 press release (as amended, the "Gold Prepay Agreement"), including an accordion feature potentially to access up to an additional $50 million at i-80's option; and

(ii)

$30 million silver purchase and sale agreement entered into with affiliates of Orion (the "Silver Purchase Agreement"), including an accordion feature to potentially access an additional $50 million at i-80's option;

Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws, including but not limited to, the availability of the US$100 million accordion feature under the Financing Package, pursuing the 2022 scorecard key goals and catalysts, completion of refurbishment and development activities at the Lone Tree project and commencement of mining operations at the Lone Tree project, the Ruby Hill mine or the McCoy Cove project. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the Company's current expectations regarding future events, performance and results and speak only as of the date of this release.

Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to: failure to satisfy of the relevant conditions to the completion of the transactions described herein, failure to obtain the relevant regulatory approvals, material adverse changes, exercise of termination rights by any relevant party, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration, refurbishment, development or mining programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.