i-80 delivers robust PEA results for its Granite Creek gold project in Nevada

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(Kitco News) - i-80 Gold (TSX: IAU) today reported favorable results of a Preliminary Economic Assessment ("PEA") for the company's Granite Creek gold project located in Humboldt County, Nevada.

Highlights of the Granite Creek PEA (Base Case @ US$1,650/oz Au) include: after-tax NPV@5% of US$244.9 Million; after-tax IRR of 34.2%; initial capital of US$69.9 Million; all-in sustaining cost (per oz Au produced) of US$963.40; and life of mine gold production of 1,245,900 ounces.

"The project economics shown in the PEA are favorable, providing positive NPV values at varying gold prices, capital costs, and operating costs," the company said in a statement.

For the open pit at Granite Creek, the study envisions the construction of a heap leach facility and a CIL plant on-site. For the fully permitted underground operation, trucking of mined material is assumed to processed at an off-site, third-party processing facility, the company added.

Future economic work will consider processing at the Lone Tree facility that was recently acquired from Nevada Gold Mines and located 43 miles (by road) to the south, i-80 noted.

"The Granite Creek PEA confirms the substantial economic opportunity that can be realized through the development of both open pit and underground mines on the Property," stated president and COO Matthew Gili. "This study contemplates constructing heap leach and CIL facilities on the property for the open pit and trucking refractory material for third party processing. The recent acquisition of the Lone Tree site will allow for the optimization of these facilities as we progress to a Feasibility Study, potentially leading to changes in the ultimate processing plans versus what is presented in the study."

i-80 Gold Corp. is a Nevada-focused mining company with a goal of achieving mid-tier gold producer status. The company is one of the largest holders of gold and silver resources in the State of Nevada with plans to advance multiple projects to production.

By Vladimir Basov

For Kitco News

Follow kitconewsnow vbasov@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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