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i - 80 GOLD CORP www.i80gold.com i - 80 Gold Reports 2021 Q2 Results 2021 Second Quarter Highlights ● 1.866.525.6450 Reno Nevada , August 10 , 2021 - i - 80 GOLD CORP . ( TSX : IAU ) ( IAUCF : OTC ) ( " i - 80 " , or the " Company " ) is pleased to report its unaudited operating and financial results for the three and six months ended June 30 , 2021. i - 80's unaudited condensed interim consolidated financial statements ( " financial statements " ) , as well as i - 80's management discussion and analysis ( " MD & A " ) for the three and six months ended June 30 , 2021 , are available on the Company's website at www.i80gold.com and on SEDAR at www.sedar.com 5190 Neil Road , Suite 110 Reno , Nevada 89502 First quarter as a publicly traded Company Completed acquisition of the Granite Creek Project Completed C $ 80.4 million financing Gold production of 4,972 ounces , year - to - date production of 11,075 ounces Gold sales of 5,745 ounces , year - to - date sales of 13,274 ounces Total revenue of $ 10.3 million , $ 23.8 million year - to - date Mine operating income of $ 3.4 million and a net loss of $ 7.1 million for the quarter , mine operating income of $ 9.6 million and a net loss of $ 4.2 million year - to - date Adjusted loss for the quarter of $ 2.6 million and adjusted income of $ 0.2 million year - to - date Period end cash and cash equivalents balance of $ 70.1 million " Q2 was a groundbreaking quarter for the Company . We completed the spin - out from Premier Gold Mines , closed the acquisition of the Granite Creek project and the adjacent Christison land package , and finalized the subscription receipt financing . With these transactions completed the Company is well positioned , with $ 70 million in cash and no debt , to advance the projects within our portfolio to achieve our goal of building a mid - tier gold producer . " , stated Ewan Downie , CEO . " The acquisition of the Granite Creek Project provides the company with near - term production potential from the historic underground workings and mid - term potential for an open pit project . i - 80 is excited to have launched an aggressive drilling campaign , with approximately 22,000 meters of drilling planned . " , added Mr. Downie . Three months ended June 30 , 2021 A total of 4,972 ounces of gold were produced during Q2 2021 compared to 4,765 ounces of gold during Q2 2020 from South Arturo . The increase in ounces period over period was the result of stope sequencing in which an increased tonnage was offset by lower grade material . The Company reported total revenue of $ 10.3 million and a mine operating income of $ 3.4 million during the second quarter compared to revenue of $ 10.9 million and mine operating income of $ 3.1 million during Q2 2020. The decrease in Q2 revenue when compared to the same period in 2020 was primarily due to the sales of 576 less ounces during the period offset by an increase in the average realized gold price of $ 63 to $ 1,784 per ounce .