i-80 Gold Announces Non-Brokered Private Placement of up to C$18 Million

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RENO, Feb. 7, 2024 - i-80 Gold Corp. (TSX: IAU) (NYSE: IAUX) ("i-80", or the "Company") is pleased to announce that the Company has launched a non-brokered private placement (the "Offering") of up to 10,000,000 common shares of the Company (the "Common Shares") at a price of C$1.80 per Common Share for aggregate gross proceeds of up to approximately C$18 million.

The net proceeds of the Offering will be used for exploration and development of the Company's mineral projects in Nevada, and for working capital and general corporate purposes.

The Offering is scheduled to close on or about February 16, 2024, or such other date as the Company may determine and is subject to satisfaction of certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including that of the Toronto Stock Exchange ("TSX") and the NYSE American ("NYSE"). The securities issued pursuant to the Offering will be subject to a four-month plus one day hold period commencing on the day of the closing of the Offering under applicable Canadian securities laws.

About i-80 Gold Corp.

i-80 Gold Corp. is a Nevada-focused, mining company with a goal of achieving mid-tier gold producer status through the development of multiple deposits within the Company's advanced-stage property portfolio with processing at i-80's centralized milling facilities. i-80 Gold's common shares are listed on the TSX and the NYSE American under the trading symbol IAU:TSX and IAUX:NYSE. Further information about i-80 Gold's portfolio of assets and long-term growth strategy is available at www.i80gold.com or by email at info@i80gold.com.

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 timing and completion of the Offering, the anticipated closing date of the Offering, the ability to obtain all necessary regulatory approvals, including the approval of the TSX and the NYSE and the potential of the Company's properties. 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: material adverse changes, 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 programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.

SOURCE i-80 Gold Corp.