i-80 GOLD CORP. announced additional results from 2023 drilling in the Helen Zone that continues to realize significant high-grade results from the underground drilling program at the Company's 100%-owned McCoy-Cove Property ("Cove" or "the Property") located in Lander County, Nevada. The new results are from the 2023 underground drilling program to define the Helen Zone, the first horizon expected to be accessed at the Cove Mine.

The most recently received results from the Helen Zone compliment recently released intercepts that returned up to 22.6 g/t Au over 19.1 m in hole iCHU23-37, 32.9 g/t Au over 14.9 m in hole iCHU23-38 and 23.5 g/t Au over 12.8 m in hole iCHU23-39. Three of the new holes were drilled to only intersect the Upper Helen mineralized horizon that typically contains thinner mineralized zones when compared to the Lower Helen. Highlight new results from drilling at McCoy-Cove include: iCHU23-40: 11.5 g/t Au over 3.7 m (Upper Helen Zone), iCHU23-41: 37.2 g/t Au over 3.7 m (Upper Helen Zone), iCHU23-42: 29.6 g/t Au over 7.2 m (Lower Helen Zone), iCHU23-43: 9.2 g/t Au over 5.3 m (Upper Helen Zone) and 12.3 g/t Au over 6.6 m (Lower Helen Zone) and 18.7 g/t Au over 8.3 m (Lower Helen Zone).

The McCoy-Cove Property is strategically located in heart of the prolific Battle Mountain Trend immediately south of Nevada Gold Mines'Phoenix Mine and the Company's Lone Tree processing facility. Cove is one of three deposits being advanced to realize the Company's goal of building one of the producers in the United States. Carlin-style mineralization in the Helen and CSD Gap zones is hosted primarily in the Favret limestone rock unit with enhanced grades and thicknesses of mineralized zones occurring at structural intersections, along the margins of dikes and sills, and within the axis of the northwest striking Cove anticline. The Helen Zone has both "Upper" and "Lower" mineralized horizons with the Upper Zone comprising a smaller, narrower, zone of gold mineralization hosted in the Panther Canyon and Home Station formations and the Lower Zone comprising the main horizon hosted within the Favret limestone formation.

Polymetallic mineralization also occurs on the Property, particularly in the 2201 Zone that occurs below and to the east of Carlin-style mineralization. This polymetallic mineralization remains a significant upside opportunity. The McCoy-Cove Property comprises a large package of approximately 13,000 hectares covering an area roughly 15 km by 10 km that offers substantial exploration upside as the bulk of work completed to-date has been focused on the main deposit areas.

Earlier exploration, mostly completed in 20214, resulted in several new discoveries that have received little to no follow-up including polymetallic mineralization in the 2201 and Davenport targets. One of the primary future targets at McCoy-Cove is the pediment area to the east of the Cove deposit where only two holes have drilled to a sufficient depth to intersect the Favret limestone unit.  Both holes intersected broad zones of Carlin-type alteration with assays of up to 1.7 g/t Au and 364 g/t Ag over 11.4 m proximal to an interpreted large untested structural trend that represents a major future exploration target.