i-80 Gold Publicizes Lone Tree Plant Refurbishment Replace; Research Highlights Materials Enhance in Margins and Quick Payback Interval

Refurbishing and commissioning the Lone Tree Plant marks a key milestone in
i-80 Gold’s section one progress plan

i-80 Gold Corp. (TSX: IAU) (NYSE American: IAUX) (“i-80 Gold”, or the “Firm”) is happy to announce the outcomes of an engineering examine (the “Research” or the “Engineering Research”) for the refurbishment of its Lone Tree Plant (“Lone Tree Plant” or the “Plant”) positioned in Northern Nevada, USA. i-80 Gold is certainly one of two gold corporations in Nevada with an autoclave processing plant. As a part of i-80 Gold’s improvement plan, the Lone Tree Plant is anticipated to function a central hub for processing refractory materials from the Firm’s three high-grade underground mines: Granite Creek, Archimedes, and Cove (see Determine 1 in Appendix).

“The Lone Tree Plant is a cornerstone asset inside section certainly one of i-80 Gold’s improvement plan,” acknowledged Richard Younger, President & Chief Govt Officer. “Refurbishing the Lone Tree Plant marks a serious step ahead in our aim of making a mid-tier gold producer by enabling us to transition from toll-milling to an owner-operator processing mannequin. This modification is anticipated to considerably enhance margins and free money stream era. Along with advancing the event plan, we’re progressing properly on our recapitalization plan with ongoing engagement from debt and royalty suppliers, in addition to preliminary curiosity in our non-core asset sale. We’re inspired by the general progress and are on monitor to finish the recapitalization course of earlier than the top of the second quarter of 2026 or earlier.”

The Research was accomplished by Hatch Ltd. (“Hatch”), an business chief in autoclave know-how design, and builds on a earlier inside engineering examine accomplished by Hatch in 2023. Hatch’s duties on this Research included the engineering of the refurbishment design and the capital prices; whereas i-80 Gold is chargeable for finishing the related mine plan foundation, metallurgical take a look at work, restoration evaluation, working value estimates (primarily based on the Hatch design and detailed mass steadiness), and financial evaluation.

Highlights  

All quantities are expressed in United States {dollars} until in any other case acknowledged.

• Nameplate capability of two,268 tonnes per day or 827,806 tonnes each year, in keeping with historic manufacturing information, with built-in stress oxidation (“POX”) and carbon-in-leach (“CIL”) circuits able to processing each refractory (sulfide) and non-refractory (oxide) mineralized materials.
• Scope of labor contains the alternative and refurbishment of some current infrastructure, and the set up of latest infrastructure, tools and environmental techniques, together with the refurbishment and improve of the present autoclave to a contemporary POX circuit.
• Capital value estimate (AACE Class 3) of $412 million, inclusive of contingency, proprietor’s prices, and first fills, plus $18 million in capital spares for a complete of $430 million. The estimate is increased than the anticipated quantity of roughly $400 million, largely because of elevated prices related to inflation and engineering design particulars, and extra redundancy by increasing the capability of the filtered tailings system. This may occasionally enable for operational and throughput flexibility, each of which might finally enhance throughput by permitting for processing of oxidized materials throughout deliberate upkeep outages of the autoclave.
• Potential quick payback interval of 12 to 24 months relying on the grade processed and gold worth.
• Early works actions have commenced beneath a restricted notice-to-proceed granted by the Board of i-80 Gold. A building resolution is anticipated as soon as the recapitalization is full. Upon the approval of related permits, building actions are anticipated to start within the second half of 2026 with plant commissioning anticipated on the finish of 2027.
• Transitioning from a toll-milling to owner-operated processing situation is anticipated to scale back present processing prices to roughly one third, leading to an estimated margin enhance of roughly $1,000 to $1,500 per ounce of gold (relying on grade and gold worth).
• On monitor for the completion of engineering designs related to building and environmental permits within the fourth quarter of 2025 with allowing purposes projected to be submitted within the first quarter of 2026 following the interior evaluation course of.
• i-80 Gold is certainly one of two gold corporations in Nevada with an autoclave facility, the opposite is Nevada Gold Mines (“NGM”), a three way partnership between Barrick Mining Company and Newmont Company.

“The engineering examine confirms that the Lone Tree Plant refurbishment incorporates normal, technically simple upgrades designed to enhance working effectivity,” acknowledged Paul Chawrun, Chief Working Officer. “Importantly, the deliberate work represents low execution threat as demonstrated by the modest variety of direct building hours, the minimal requirement for long-lead tools, and the Plant’s location inside a mature, best-in-class mining district. With roughly 30% of detailed engineering now full, this stage of technical definition supplies considerably improved accuracy in our capital value estimate.”

Mr. Chawrun added, “Along with working with Hatch – a globally acknowledged engineering agency with deep experience in autoclave design and know-how – our inside technical group brings in depth expertise in refractory gold metallurgy, and the development and operation of POX autoclave amenities, gained by way of management roles at large-scale Nevada gold operations. The mixture of detailed engineering, value definition, and confirmed inside and exterior experience positions us to confidently advance the Lone Tree Plant refurbishment towards execution as a key element of i-80 Gold’s progress technique.”

A video overview of the Lone Tree refurbishment plan is accessible by clicking right here: https://vrify.com/decks/20657 

Scope of Work

The scope of refurbishment work features a mixture of latest and improved design parts and the alternative of some current infrastructure geared toward modernizing the Plant to enhance course of effectivity and working flexibility, and moreover to satisfy new environmental compliance requirements (see Figures 2 and three in Appendix).

This contains the demolition of sure tools, resembling legacy CIL tanks, oxygen plant and refinery, and the development, alternative, and addition of apparatus, resembling an upgraded mercury abatement circuit to satisfy up to date environmental laws (see Figures 4 to 7 in Appendix).

A central element of the Research is upgrading the present autoclave circuit to transform it to a contemporary POX circuit inside the general flowsheet design for improved working effectivity (see Determine 8 in Appendix). The SAG and ball mills are additionally deliberate to characteristic a brand new trendy management system.

One other key element is the addition of a tailings filtration system. This modification resulted within the addition of a number of circuits, together with filtration, water therapy for water recirculation, a modified cyanide destruction circuit, and POX off-gas water system adjustments. When in comparison with standard tailings storage, a filtered tailings system is a extra environmentally accountable tailings design that permits for elevated water restoration, a smaller environmental footprint, and a decrease value at closure related to a less complicated reclamation design.

A brand new oxygen plant design has additionally been included to satisfy up to date processing necessities, whereas additional decreasing challenge threat from earlier research the place refurbishment of the present oxygen plant was thought-about. The oxygen plant is anticipated to be operated by a third-party by way of an over-the-fence provide contract.

Total, the Lone Tree Plant refurbishment is estimated to require roughly 600,000 direct building hours, with peak workforce of about 400 building personnel, which suggests a comparatively low general building depth when in comparison with greenfield mine capital tasks.

The challenge will probably be overseen by an skilled Nevada-based homeowners’ group to work collectively with the Hatch EPCM group, every with a confirmed monitor report within the building and commissioning of autoclave processing amenities and will probably be supported by extremely expert native contractors. The interior group additionally brings in depth expertise working and managing autoclave amenities at large-scale gold operations in Nevada.

Processing

The Lone Tree autoclave plans to course of as much as 2,268 tonnes per day with whole annual throughput of 827,806 tonnes primarily based on 85% plant availability, in keeping with historic manufacturing information.

The feed to the autoclave will encompass refractory materials from i-80 Gold’s three deliberate high-grade underground mines: Granite Creek, which is at present in commissioning, Archimedes, the place building not too long ago commenced, and Cove, which is advancing towards feasibility and allowing (see Determine 10 in Appendix).

The Plant is designed to course of refractory materials utilizing the built-in POX-CIL processing stream, together with excessive grade oxide materials, through which case the POX circuit is bypassed, and the fabric is processed solely within the CIL circuit after grinding (see Figures 8 and 9 in Appendix). This flexibility permits the therapy of mineralized materials to be optimized with the bottom value and highest restoration fee. Bypassing the POX circuit (autoclave) when processing oxide materials has the potential to extend throughput capability by between 5% and 10% above the nameplate capability.

The up to date design incorporates an acid-based POX course of, whereas beforehand each acid and alkaline processes had been included into the design. The acid-based POX is anticipated to enhance the general gold restoration charges in comparison with the alkaline course of, offsetting the elevated working prices related to the acid setting.

Capital Value

Over the previous a number of years, in depth engineering opinions, working assessments, and trade-off research have been accomplished to optimize challenge capital and determine alternatives to carry ahead Lone Tree’s improvement timeline. The estimate has been developed to an AACE Class 3 stage of definition. The estimate is modestly increased than the anticipated quantity of roughly $400 million, largely because of elevated prices related to inflation and engineering design particulars, and extra redundancy by increasing the capability of the filtered tailings system. This may occasionally enable for operational and throughput flexibility, each of which might finally enhance throughput by permitting for processing of oxidized materials throughout deliberate upkeep outages of the autoclave. See Desk 1 beneath for a abstract of capital value estimates by exercise.

i-80 Gold continues to advance its recapitalization plan to help the Firm’s progress technique. The Firm is at present in energetic discussions with a number of events concerning a possible mixture of senior debt, a royalty sale, and non-core asset sale. The Firm goals to finish its recapitalization plan by the top of the second quarter of 2026 or earlier. 

Allowing

The Plant is permitted for the present operational parts in use. The approval of latest and revised allow purposes pertaining to air high quality, water air pollution, mercury abatement and reclamation administration packages for the brand new Plant design stay excellent. The Firm is on monitor to finish the engineering designs related to the development and environmental permits within the fourth quarter of 2025 with allowing purposes projected to be submitted within the first quarter of 2026 following the interior evaluation course of. Numerous building actions will start upon the approval of the related permits and the completion of required financing.

Timeline and Subsequent Steps

In August 2025, the Board of i-80 Gold accredited a restricted discover to proceed with detailed engineering to permit for the procurement of long-lead tools and the graduation of allowing updates. A building resolution is anticipated as soon as the recapitalization is full, with demolition actions anticipated to start within the second quarter of 2026, adopted by building actions within the second half of 2026. For a schedule of refurbishment milestones see Determine 11 within the Appendix.

Primarily based on present forecasts, commissioning of the Lone Tree Plant is anticipated to start within the fourth quarter of 2027. Upon the completion of the commissioning section, the Plant is anticipated to start processing refractory materials from the Firm’s Granite Creek and Archimedes underground mines. Previous to the Plant’s commissioning, each underground tasks are anticipated to course of refractory materials beneath a third-party autoclave toll-milling settlement. 

In regards to the Lone Tree Property

The Lone Tree property is positioned instantly adjoining to Interstate 80 (I-80). The Lone Tree Plant is a legacy asset with important current infrastructure. It was initially commissioned in 1991 by Santa Fe Pacific Gold, which was acquired by Newmont Company in 1997. The Plant’s POX circuit began in 1993 and operated for 14 years till being placed on care and upkeep in 2007. It grew to become a part of NGM in July 2019 by way of the three way partnership created between Barrick Mining and Newmont Company. i-80 Gold acquired the Lone Tree property from NGM in October 2021. Following the acquisition, the Plant remained on care and upkeep, whereas residual leaching of the historic Lone Tree heap leach has continued.

Along with the processing amenities, the Lone Tree land bundle contains the Lone Tree open pit, the Buffalo Mountain deposit, and the Brooks open pit mine, that are additionally at present on care and upkeep.

The past-producing Lone Tree open pit deposit has outlined assets which can be built-in into the Firm’s future manufacturing plans. Whereas not half of the present improvement plan, the Lone Tree Open Pit could also be re-permitted and complement the high-grade underground feed within the later years of the underground mines, topic to allowing, technical research, and financial analysis.

Convention Name & Webcast

Administration will host a convention name and webcast tomorrow morning to debate the updates for the Lone Tree refurbishment and the Firm’s recapitalization plan, adopted by a question-and-answer session. The participation particulars are as follows:

Technical Disclosure and Certified Individuals

The Research is a Class 3 engineering examine which is a price evaluation and doesn’t represent a technical report nor a feasibility examine every as outlined beneath Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives or Subpart 1300 of Regulation S-Okay.

The technical data contained on this press launch has been ready beneath the supervision of and has been reviewed and accredited by Paul Chawrun P.Eng., Chief Working Officer, and Kenji Umeno, P.Eng., Director of Metallurgy, for the Firm, every of whom are certified individuals inside the that means of Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives and Subpart 1300 of Regulation S-Okay.

About i-80 Gold Corp.

i-80 Gold Corp. is a Nevada-focused mining firm dedicated to constructing a mid-tier gold producer by way of a brand new improvement plan to advance its high-quality asset portfolio. The Firm is the fourth largest gold mineral useful resource holder within the state with a pipeline of high-grade improvement and production-stage tasks strategically positioned in Nevada’s most prolific gold-producing tendencies. Leveraging its central processing facility following an anticipated refurbishment, i-80 Gold is executing a hub-and-spoke regional mining and processing technique to maximise effectivity and progress. i-80 Gold’s shares are listed on the Toronto Inventory Trade (TSX:IAU) and the NYSE American (NYSE:IAUX). For extra data, go to www.i80gold.com.

CAUTIONARY STATEMENT ON FORWARD LOOKING INFORMATION

Sure data set forth on this press launch, together with however not restricted to administration’s evaluation of the Firm’s future plans and operations, the anticipated timing of allowing the challenge, a building resolution, building and commissioning, the anticipated advantages of the refurbished processing plant together with to money margins and recoveries, the anticipated value and payback interval of the refurbishment plan, the perceived benefit of tasks or deposits, and the affect and anticipated timing of the Firm’s improvement plan and recapitalization plan, outlook on gold output, the anticipated progress expenditures, the anticipated timing of allowing, manufacturing, challenge improvement or technical research constitutes ahead wanting statements or forward-looking data inside the that means of relevant securities legal guidelines. All statements aside from statements of historic reality are forward-looking statements. Usually, however not at all times, forward-looking statements will be recognized by way of phrases resembling  “plans”, “expects”, “is anticipated”, “price range”, “scheduled”, “estimates”, “continues”, “forecasts”, “tasks”, “predicts”, “intends”, “anticipates” or “believes”, or variations of, or the negatives of, such phrases and phrases, or state that sure actions, occasions or outcomes “might”, “might”, “would”, “ought to”, “would possibly” or “will” be taken, happen or be achieved. Readers are cautioned that the assumptions used within the preparation of data, though thought-about cheap on the time of preparation, might show to be inaccurate and, as such, reliance shouldn’t be positioned on forward-looking statements. The Firm’s precise outcomes, efficiency or achievement might differ materially from these expressed in, or implied by, these forward-looking statements and, accordingly, no assurance will be on condition that any of the occasions anticipated by the forward-looking statements will transpire or happen, or if any of them achieve this, what advantages, if any, that the Firm will derive therefrom. By their nature, ahead wanting statements are topic to quite a few dangers and uncertainties, a few of that are past the Firm’s management, together with common financial and business situations, volatility of commodity costs, timing of allowing, title dangers and uncertainties, potential to entry ample capital from inside and exterior sources  resembling promoting belongings, restructuring debt or acquiring extra fairness capital on phrases that could be onerous or extremely dilutive. The Firm’s potential to refinance its indebtedness will rely on the capital markets and its monetary situation at such time, foreign money fluctuations, building and operational dangers, licensing and allow necessities, environmental dangers, competitors from different business contributors, the shortage of availability of certified personnel or administration, imprecision of mineral useful resource, or manufacturing estimates.

Please see “Dangers Elements” within the Kind 10-Okay for the fiscal yr ended December 31, 2024 for extra data concerning dangers pertaining to the Firm, which is accessible on EDGAR at www.sec.gov/edgar and SEDAR+ at www.sedarplus.ca. Readers are inspired to rigorously evaluation these threat components in addition to the Firm’s different filings with the U.S. Securities and Trade Fee and the Canadian Securities Directors. All forward-looking statements contained on this press launch communicate solely as of the date of this press launch or as of the dates laid out in such statements. The Firm disclaims any intention or obligation to replace or revise any forward-looking statements, whether or not because of new data, future occasions or in any other case besides as required by relevant legislation.

Extra data regarding i-80 Gold will be discovered on i-80 Gold’s web site at www.i80gold.com, SEDAR+ at www.sedarplus.ca, and on EDGAR at www.sec.gov/edgar.

APPENDIX

Determine 1: Regional map of Lone Tree Plant and i-80 Gold’s regional tasks in Northern Nevada, USA
Determine 2: Normal overview of the present Lone Tree Plant
Determine 3: Scope of labor for the Lone Tree Plant refurbishment
Determine 4: POX autoclave upgrades
Determine 5: POX mercury abatement system redesign
Determine 6: CIL tank alternative
Determine 7: New tailings filtration constructing
Determine 8: Lone Tree mineral processing flowsheet
Determine 9: New Lone Tree Plant structure 
Determine 10: i-80 Gold’s three-phase improvement plan for its Nevada-based asset pipeline
Determine 11: Schedule of main milestones for the Lone Tree Plant refurbishment 

View unique content material to obtain multimedia:https://www.prnewswire.com/news-releases/i-80-gold-announces-lone-tree-plant-refurbishment-update-study-highlights-material-increase-in-margins-and-short-payback-period-302646484.html

SOURCE i-80 Gold Corp

View unique content material to obtain multimedia: http://www.newswire.ca/en/releases/archive/December2025/18/c0087.html