i-80 GOLD CORP. announced that it has entered into an agreement to acquire strategic land sections adjoining the Company's Granite Creek Property located in Humboldt County, Nevada from Nevada Gold Mines LLC. The new property includes unpatented claims in Section 6, T. 37 N., R. 42 E. and surface and mineral rights for Section 21, T. 38 N., R. 42 E. The new property sections provide i-80 with approximately 3.2 kilometres of additional exposure along the Getchell/Range Front fault structure that is intimately associated with the Granite Creek and Turquoise Ridge gold deposits.

Importantly, the property section to the north of Granite Creek is immediately on-strike with the recently discovered South Pacific Zone where high-grade mineralization is being defined along strike to the north of the Company's Granite Creek Mine. Highlights of this property purchase include: Increases the size of i-80's Granite Creek Property package by approximately 1,280 acres (518 Ha); Extends exposure approximately 1.6 km north towards NGM's Turquoise Ridge Mine, and 1.6 km south of Granite Creek along the favourable Getchell/Range Front fault structure; Provides a 100% interest in the potential northern extension of the South Pacific Zone where recent drilling has identified significant high-grade mineralization including: 16.3 g/t Au over 7.1 m in hole iGS21-03, 14.7 g/t Au over 10.2 m in hole iGS21-04, 17.2 g/t Au over 3.8 m and 22.0 g/t Au over 3.4 m in hole iGS21-07, 25.5 g/t Au over 5.5 m in hole iGS21-11, 11.0 g/t Au over 9.1 m in hole iGS21-12, 16.3 g/t Au over 15.7 m in hole iGS21-18, 15.3 g/t Au over 10.5 m in hole iGS21-19. The properties include surface and mining rights.

Total consideration for the purchase of the property sections consists of a cash payment of $4 million and the inclusion of the acquired sections into the existing 10% Net Profits Royalty that NGM currently holds on the existing Property. Barrick Gold Corporation will also retain a 0.5% NSR on the new property sections. i-80 is currently completing a surface and underground drill program with multiple drills at Granite Creek that is expected to consist of approximately 30,000 metres of drilling.

The program has been very successful in confirming the significant upside opportunity at Granite Creek both proximal to the underground mine workings including the expansion of mineralization along strike and at depth where the deposit remains open. The South Pacific Zone is one of the primary targets of the 2022 program and future drilling will continue to step-out to the north towards the newly acquired property. High-grade mineralization at Granite Creek occurs in a near-identical geological setting to that of Nevada Gold Mines', multi-million-ounce Turquoise Ridge Mine that is located immediately to the north; proximal to a major regional fault (the Getchell or Range Front fault) on the eastern edge of the large Osgood Mountains intrusive complex.

The Granite Creek deposit remains open at depth and along strike from the existing underground workings.