Name of the Project
Mineral Point openpit gold project.

Location
The project is a component of the broader Ruby Hill Complex, located along the south-eastern end of the Battle Mountain-Eureka Trend, in northern Nevada, US. It is located to the west of the Archimedes underground project – a major past-producing asset – stretching along a major anticlinal structure. 

Project Owner/s
Nevada-focused mining company i-80 Gold.

Project Description
The Mineral Point openpit deposit is the largest asset within ti-80’s Ruby Hill Complex. This deposit has been the focus of multiple drilling campaigns and is the largest unmined, bulk mineable precious metal resource in northern Nevada.

The project forms part of the i-80’s three-phase growth strategy in Nevada, and is he final project planned in Phase 3.

The project is an extension of the historically mined Archimedes openpit.

The project contains a large oxide gold and silver deposit, as well as multiple base metal deposits, which is amenable to heap leaching after a two-stage crush.

Current processing infrastructure includes a primary and secondary crushing plant, grinding mill, leach pad and carbon-in-column circuit, which are designed to process oxide 
material.

The PEA incorporates a two-stage crush for the process material placed on the heap leach. Owing to the silver in the deposit, a Merrill Crowe plant has been included in the process.

Appropriate facilities are planned to the west of the current facilities to minimise haulage distances and optimise facility layout for the estimated 17-year mine life.

The PEA envisages average gold equivalent production of about 280 000 oz/y of gold following production ramp up.

The mine will be developed in consecutive phases to manage the stripping ratio and provide consistent process feed. It will be accessed by a set of ramps designed for 320 t haul trucks on the west side of the pit. 

Mining will be conducted by rope and hydraulic shovels with a production rate of 23-million tonnes a year of processed tonnes.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
At a gold price of $2 175/oz, the project has a pretax net present value, at a 5% discount rate, of $828-million and an internal rate of return of 12%.

Capital Expenditure
Total mine construction costs are estimated at $994.8-million.

Planned Start/End Date
Base line work started in the fall of 2024 to allow for Mineral Point permitting to start in the second half of 2027, following regulatory agency approvals of the lower Archimedes underground permitting actions.

Construction is expected to start in early 2030, subject to obtaining the necessary permits by December 31, 2029.

Latest Developments
i-80 Gold has secured commitments for a $500-million financing package that forms part of a recapitalisation plan aimed at building a 600 000 oz/y gold mine, in Nevada.

The package comprises a $250-million royalty financing from Franco-Nevada, and a gold prepayment facility of up to $250-million from National Bank of Canada and Macquarie Bank.

The recapitalisation plan is expected to close by the end of the first quarter of 2026.

The proceeds, combined with equity offerings completed in the second quarter of 2025, represent more than $800-million in funding to support i-80 Gold’s objective of increasing production to between 300 000 oz/y and 400 000 oz/y, from less than 50 000 oz/y currently. The company ultimately targets output of more than 600 000 oz/y under its three-phase development plan.

The final steps in the recapitalisation include retiring and replacing existing convertible debentures with new instruments on more favourable terms and the potential sale of a noncore asset. The overall recapitalisation is targeting between $900-million and $1-billion.

The financing package provides flexibility to accelerate the feasibility study and permitting work for the project.

Key Contracts, Suppliers and Consultants
Not disclosed.

Contact Details for Project Information
i-80, tel +1 775 525 6450 or email Info@i80gold.com.