i-80 Gold The terms of the amendment and restatement of the Convertible Credit Agreement with Orion are supplemented by Investing.com

This press release constitutes a “designated news release” for purposes of the Company’s dated prospectus supplement August 12, 2024to the dated short form basic shelf bulletin June 21, 2024

Reno, Nev., January 15, 2025 /PRNewswire/ – I-80 Gold Corp. (TSX: IAU) (NYSE: IAUX) (“i-80 Gold”, or the “Company”) It is pleased to announce that according to its press release regarding December 31, 2024 You have completed the amendment and restatement of the Transferable Credit Agreement (“A&R Transferable Credit Agreement“) with a subsidiary of Orion mine financing (“OrionAs a result, the conditions relating to the previously announced deferral of gold and silver delivery and the extension of the Orion Convertible Loan (collectively the “Assignment Agreements”) required to be completed have been fulfilled to date.

In addition to the transferable credit agreement A&R, Orion and I-80 Gold I have extended the due date of the A&R Convertible Credit Agreement by six months effective December 13, 2025l June 30, 2026and placed certain collateral to secure the Company's obligations under the A&R Convertible Credit Agreement. Additional security against the company Ruby Hill and Granite Creek Projects are required to be developed by March 31, 2025. In connection with the extension of the A&R Convertible Credit Agreement, the Company issued to Orion five million warrants to purchase common stock (“2025 Orion orders“) at an exercise price of 1 Canadian dollar.01 and expiration date January 15, 2029. The 2025 Orion Warrants will be subject to a suspension period under applicable Canadian securities laws which will expire for a period of four months and one day from the date of issuance. Neither the 2025 Orion Warrants nor the shares issuable upon exercise of the 2025 Orion Warrants have been registered under we Securities Act of 1933 and are considered “restricted securities.” The Company has agreed to grant Orion registration rights in respect of its securities.

In addition, the Company announces its intention to complete a common stock financing prospectus (“Common stock“) for a firm's total gross revenue 10,000,000 US dollars (the “an offerThe Company has been notified by certain of its largest shareholders as well as its board of directors and management team that they expect to participate in the offering. The ordinary shares will be priced in the market context. The ordinary shares are expected to be priced in the market context. The offering will close on or about January 31, 2025.

The company expects to use the net proceeds from the offering to develop the company's projects in the region Nevadaand for working capital and general corporate purposes, such as I-80 Gold It is working to complete the second phase of its targeted recapitalization plan on or about March 31, 2025.

The Offering will be made pursuant to the prospectus supplement to the Company's short term prospectus filed therewith June 21, 2024 (the “Shelf bulletin board“), which prospectus supplement will be prepared and submitted by the company to the securities regulatory authorities in each of the provinces and territories. Canada Other than Quebec Prior to the closing of the offering, it will be offered to… US Securities and Exchange Commission According to the company we Registration Statement on Form F-10 (Registration No. 333-279567), which includes the prospectus and has been declared effective by US Securities and Exchange Commission on June 25, 2024.

Completion of the offering remains subject to receipt of regulatory approvals, including approval of the Company's Board of Directors toronto stock exchange (the “TSX“) and other customary closing conditions of the New York Stock Exchange (NYSE). No commission or finder's fee will be paid in connection with the offering.

Each of the A&R Convertible Credit Agreement and the related issuance of the 2025 Orion Guarantees to Orion constitutes a “related party transaction” as defined in Multilateral Instrument 61-101. Protection of minority security holders in private transactions (“MI 61-101”) because Orion is a “related party” to the Company due to its beneficial shareholding in the Company in excess of 10% (within the meaning of MI 61-101, which includes Orion common shares, warrants and potential conversion rights in I-80 Gold Securities under the A&R Convertible Credit Agreement). The Company has relied on the exemptions in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 from the formal evaluation and minority shareholder approval requirements in MI 61-101 in connection with the issuance of the 2025 Orion Warrants, and Section 5.7(1) (a) From MI 61-101 Minority Shareholder Approval Requirements Regarding A&R Convertible Credit Agreement Given Fair Market Value For the 2025 Orion Guarantees nor the fair market value of the entity under the A&R Convertible Credit Agreement does not exceed 25% of the market value of the entity. Furthermore, a formal evaluation is not required under MI 61-101 with respect to an A&R convertible credit agreement because entering into an A&R convertible credit agreement is not the type of related party transaction that requires a formal evaluation. The Company did not report a material change prior to the 21 days prior to the closing of the A&R Convertible Credit Agreement, including the issuance of the 2025 Orion Warrants, as the terms and conditions of the A&R Convertible Credit Agreement were not agreed upon until shortly before closing.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The tribe.

on I-80 Gold Company

I-80 Gold Company. He is a Nevada– A mining company focusing on the third largest gold mining resource in the state Nevada. The ongoing recapitalization plan is designed to unlock the value of the company's high-grade gold deposits to create Nevada Middle class gold producers. I-80 GoldTSX common shares are listed on the TSX and NYSE US stock exchanges under the trading symbols IAU:TSX and IAUX:NYSE. More information about I-80 GoldThe Company's asset portfolio and long-term growth strategy are available at www.i80gold.com or via email at info@i80gold.com.

Forward-looking information

Certain statements in this release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws, including, without limitation, statements relating to: the Company and Orion’s agreement to place certain personal property and the applicable real property security to secure the Company's obligations under the A&R Convertible Credit Agreement; the Company's ability to satisfy all closing conditions and close the offering within the stated timeline and stated gross proceeds; The Company's use of the offering proceeds; The Company prepares and files a prospectus supplement in and with the declared provinces and territories US Securities and Exchange Commission By closing; Completion of the offer; the Company's ability to obtain US TSX and NYSE approval; And other future plans and expectations of the company. These 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. Through these forward-looking statements or information. Such statements can be identified by the use of words such as “may”, “will”, “could”, “would”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”. “, “scheduled”, “forecast”, “forecast” and other similar terms, or indicating that some action, event or result “may”, “could”, “will”, “might” or “will” occur. taken, occurred or 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 such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in forward-looking statements or information, including, without limitation: adverse material changes, or unanticipated changes in laws, rules or regulations, or their implementation of before the competent authorities. ; failure of parties to contracts with the Company to perform as agreed; Social or labor unrest. Changes in commodity prices; The failure of exploration programs or studies to achieve expected results or results that would justify and support continued exploration, studies, development or operations. For a more detailed discussion of these risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, please refer to our i-80 filings with Canadian securities regulators, including the most recent Form Annual information, available on SEDAR+ at www.sedarplus.ca.