i-80 Gold Reports 2021 Q3 Results

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Algemeen advies 10/11/2021 06:56
Reno Nevada, November 9, 2021 – i-80 GOLD CORP. (TSX:IAU) (IAUCF:OTC) (“i-80”, or the “Company”) is pleased to report its unaudited operating and financial results for the three and nine months ended September 30, 2021. i-80’s unaudited condensed interim consolidated financial statements
(“financial statements”), as well as i-80’s management discussion and analysis (“MD&A”) for the three and nine months ended September 30, 2021, are available on the Company’s website at www.i80gold.com

2021 Third Quarter Highlights
• Announced Acquisition of the Ruby Hill Mine and the asset swap for the Lone Tree Complex
• Gold production of 3,254 ounces, year-to-date production of 14,330 ounces
• Gold sales of 4,575 ounces, year-to-date sales of 17,848 ounces
• Total revenue of $8.2 million, $32.0 million year-to-date
• Mine operating income of $3.3 million for the quarter, and $13.1 million year-to-date
• Net loss of $9.3 million for the quarter, and $13.6 million year-to-date
• Adjusted loss for the quarter of $10.7 million and adjusted income of $19.5 million year-to-date from
continuing operations
• Period-end cash and cash equivalents balance of $51.6 million
“With the announcement of the Lone Tree and Ruby Hill transactions, we have leveraged our non-operating
interest in South Arturo to provide the company with a foundation to become a mid-tier, stand alone,
producer in the state of Nevada”, stated Ewan Downie, Chief Executive Officer of i-80. “The recently acquired properties will provide near-term production to replace South Arturo”.
Three months ended September 30, 2021
South Arturo was included in the Q3 results as a discontinued operation and held for sale and was disposed
of in the fourth quarter. The Company is in the progress of valuing the asset swap and completing the corresponding accounting.
A total of 3,254 ounces of gold were produced during Q3 2021 from South Arturo.
The Company reported total revenue of $8.2 million and a mine operating income of $3.3 million during the
third quarter compared to revenue of $9.3 million and mine operating income of $3.8 million during Q3 2020.
Total mine operating income of $3.3 million for Q3 2021 compared to income of $3.8 in Q3 2020 illustrates
the consistent nature South Arturo. A total of $3.7 million in exploration and pre-development expenses
were incurred during the quarter.
Nine months ended September 30, 2021
A total of 14,330 ounces of gold were produced for the nine months ended September 30, 2021, compared
to 18,589 ounces of gold for the prior year period.
www.i80gold.com
1.866.525.6450
5190 Neil Road, Suite 460
Reno, Nevada 89502
The Company reported total revenue of $32.0 million and mine operating income of $13.1 million for the
nine months ended September 30, 2021 compared to revenue of $28.6 million and mine operating income
of $8.8 million for the prior year period. The reduction in production when compared to the prior year period
is the result of stope sequencing within the mine, resulting in increased waste tonnes, and disruptions at
the Carlin mill operations.
A total of $7.0 million in exploration and pre-development expenses were incurred during the nine months
ended September 30, 2021.
The Company closed the quarter with cash and cash equivalents of $51.6 million from continuing operations.

South Arturo
The South Arturo Mine in Nevada is a joint venture, operated by Nevada Gold Mines LLC, with Barrick Gold
Corporation (“Barrick”). Subsequent to the end of the period this property was included in an asset
exchange with NGM whereby the Company’s 40% was swapped for the Lone Tree Complex.
Table 1 - South Arturo Selected Financial and Operating Results
Three months ended Sep 30 Nine months ended Sep 30
(in millions of U.S. dollars, unless otherwise stated) (iv)
2021 2020 2021 2020
Ore & Metals
Ore milled tonnes 16,936 29,416 70,647 74,448
Gold produced ounces 3,254 7,095 14,330 18,589
Silver produced ounces 272 601 1,715 1,793
Gold sold ounces 4,575 4,783 17,848 16,411
Average gold grade grams/t 6.90 8.83 7.21 8.86
Average gold recovery rate % 86.7 85.0 87.5 87.6
Realized Price
Average realized gold price (i,ii) $/ounce 1,785 1,879 1,792 1,742
Non-IFRS Performance Measures
By-product cash costs per ounce of gold sold (i,ii,iii) $/ounce 952 987 1,084 984
By-product all- in sustaining costs per ounce of gold sold (i,ii,iii) $/ounce 1,355 1,148 1,169 1,065
Financial Measures
Gold revenue m $ 8.2 9.3 32.0 28.6
Mine operating income / (loss) m $ 3.3 3.8 13.1 8.8
Exploration, evaluation & pre-development expense m $ 0.6 0.3 1.0 0.3
Capital
Total capital expenditures m $ 1.1 0.2 2.2 0.2
Capital expenditures - sustaining (i,ii) m $ 1.1 0.0 1.9 0.0
Capital expenditures - expansionary (i,ii) m $ (0.1) 0.2 0.3 0.2
(i) A cautionary note regarding Non-IFRS financial metrics is included in the "Non-IFRS Measures" section of this Management's Discussion and Analysis. (ii) Cash costs, all-in sustaining costs, sustaining and expansionary capital expenditures as well as average realized gold\silver price per ounce are Non-IFRS metrics and
discussed in the section "Non-IFRS Measures" of this Management's Discussion and Analysis. (iii) Given the small nature and timing of South Arturo silver output, no silver by-product credits are reported. (iv) May not add due to rounding.
www.i80gold.com
1.866.525.6450
5190 Neil Road, Suite 460
Reno, Nevada 89502
There has been little to no impact on the operations at South Arturo due to COVID-19 pandemic. Measures
were successfully implemented by the operator to control the risk to the employees and communities.
Granite Creek
During the quarter, the Company performed 7,795 meters (m) of surface and underground drilling bringing
the nine-month total to 9,841 m. Drilling has successfully intersected mineralization in every target area
both inside and outside of the current resource areas and initial assay results were released on October 28,
2021. Additional results are expected to be released in the near future.
The primary goal of the 2021 drill program is to advance the underground deposit to production, and
advance permitting and feasibility work on the open pit opportunity. Underground drilling is focused on
delineating sufficient resources for developing a near?term development and mining plan. Ongoing surface
drilling also tested near-surface mineralization for metallurgical and geotechnical purposes, open pit and
underground definition and expansion, and to advance permitting for open pit mining including on-site heap
leach processing.
Orion/Equinox Financing Update
The Company continues to work with Orion Mine Finance to complete the previously disclosed (See Press
Release dated October 8, 2021, titled “i-80 Gold Corp. Announces Additional Details on Financing
Package”) financing package of up to $140 million. The Orion financing is contemplated to include a mix of
equity, convertible securities, warrants as well as secured instruments, and has a target size of $140 million
and, at the election of i-80, an accordion feature of up to an additional $100 million.
Equinox has committed to a partial exercise of its Anti-Dilution Right and has executed a subscription
agreement to subscribe for $10 million of Common Shares at a price of CAD $2.62 per Common Share,
which subscription remains conditional and subject to change in connection with the receipt of all required
regulatory approvals.
Both the Orion and Equinox financing are expected to close during the fourth quarter of 2021.
Third Quarter Financial Results Webcast
The Company will host a live conference call and webcast on November 10th, 2021, commencing at
10:00 am ET, providing the opportunity for analysts and investors to ask questions of i-80 Gold’s executive
team.



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