Hello, and welcome to i-80 Gold's 2026 second quarter results conference call and webcast. At this time, all lines are in listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time you require immediate assistance, please press star zero for the operator. This call is being recorded on Tuesday, August 11, 2026. I will now turn the call over to Catarina De Rosa, Vice President, Investor Relations at i-80 Gold. Thank you, operator, and hello everyone. Thank you for joining our review of i-80 Gold's second quarter results. Today's company presenters include Richard Young, President and CEO, Paul Chawrun, COO, and Ryan Snow, CFO. Before we begin, please note that some of today's commentary may contain forward-looking statements, which are subject to risk factors and uncertainties that could cause actual results to differ materially. Please refer to yesterday's press release for cautionary notes regarding these forward-looking statements and the related risks. Today's remarks should be reviewed together with the company's Form 10-Q for the quarter ended June 30, 2026, which is available on i80gold.com, SEDAR+ and EDGAR. I will now hand the call over to Richard. Well, Caterina, thank you. Thank you for joining us today. Starting on slide three. The H1 of 2026 marked an important turning point for i-80 Gold following the successful recapitalization completed in the first quarter. With the recapitalization complete, we are focused on executing against the development plan, and we are encouraged by the progress we are making as we move into the H2 of this year. We have strengthened our balance sheet, advanced our key development projects, delivered encouraging results through the drill bit, and commenced demolition of the Lone Tree autoclave and CIL processing plant in advance of construction in the fourth quarter. Transitioning from toll milling to owner processing in 2028 will improve our cash margins by between $1,000 and $1,500 per ounce. The scale of the technical work underway across the portfolio is significant, and we continue to build the technical operating and financial depth within our team to advance multiple projects concurrently. Permitting is also progressing on track. Our second quarter achievements continue to de-risk our development plan and keep our phase one projects on track, targeting an increase in annual gold output from approximately 50,000 ounces this year to between 150,000 and 200,000 ounces in 2028. At the same time, we continue to advance our pipeline of projects, providing a pathway to organic growth to over 600,000 ounces of gold by the early 2030s. With that, I will turn the call over to Paul for project updates. Thanks, Richard. Starting with Granite Creek Underground on slide four, which was our first project to produce gold. As the mine ramps up, development continued to advance well during the quarter, bringing year-to-date development to approximately 750 meters, more than double the amount achieved in the H1 of last year. Both the main decline and lateral development remain ahead of the mine plan, increasing access to high-grade mining areas and supporting the ongoing production ramp-up. Granite Creek is now sufficiently ahead of development for the remainder of the year and beyond. Mining was temporarily impacted by ground conditions in two of our highest grade areas, which restricted access and deferred a portion of high-grade mining tons during Q2. We have now restored access in these areas, and they are currently contributing to third quarter production. We have approximately 15 headings available at any one time, which is more than sufficient to ramp up production. As a result, we expect mine grades and tons to improve in the third quarter. Total tons mined was approximately 72,000 tons, including approximately 13,600 tons of sulfide material at 6.5 grams per ton and 12,000 tons of oxide material at 7.4 grams per ton gold. Second quarter production increased from the prior year to approximately 8,600 ounces of gold. Year- to- date production as of Q2 is approximately 17,500 ounces, keeping us on track to meet our 2026 guidance of 30,000- 40,000 ounces produced. On processing, approximately 9,100 tons of sulfide material was processed during the quarter. Processing volumes were lower than mine due to availability at the third-party processing facility, resulting in a buildup of various inventories at quarter end, including 5,300 recoverable ounces of gold, which was in process at the third-party facility, and an additional 1,800 ounces of recoverable gold in inventory at Granite Creek. Unit mining costs were approximately $178 per ton, in line with plan. Lastly, water management remains well controlled. Underground pumping capacity continues to exceed inflow rates and our second larger water treatment plant and two new dewatering wells are currently under commissioning, which will address the site's long-term water management capability, eventually drawing down the water table below the underground workings. Moving to slide five. The updated mineral resource estimate for Granite Creek Underground is complete and will support the upcoming feasibility study, which is planned for completion in the third quarter of 2026. While the cutoff grade has decreased from the PEA to allow for an increase in the economic areas to be mined, we expect the reserves grade to be consistent with the average mine grades over the past several quarters. Infill and step-out drilling continued during the quarter across the OG, Range Front, and Adams Peak zones, focused on resource conversion and infill drilling to assist with mine planning. We continue to see opportunities to expand mineralization in these areas and elsewhere. For the remainder of the year, drilling continued to focus on delineation and resource expansion. Due to the significant potential at Granite Creek, evaluation for further expansion campaigns are underway for 2027 and beyond. Turning to slide six. Underground development at Archimedes continues to progress on schedule and largely on budget. Underground operating costs are in line with the PEA, while we expect to have slightly higher capital with the surface infrastructure as we build the Ruby site for the long term. Development productivity continues to benefit from favorable ground conditions and contractor productivity. During the second quarter, the main decline continued to advance ahead of planned rates, and the exploration drift was completed ahead of schedule, establishing the underground drill platforms required to support definition drilling at depth. We remain on track to achieve first gold mined from the upper 426 zone during the fourth quarter this year. Turning to slide seven. We continue to see significant potential for resource expansion at Archimedes. Early in the quarter, we completed infill drilling in the upper 426 zone. These results were reported in June and confirmed good grades and continuity within the planned mining areas while also extending mineralization beyond the current resource boundaries. Drilling intersected significant high-grade oxide mineralization that was not included in the mineral resource estimate that supported the 2025 PEA, providing potential upside in the near-term mine plan. We believe this emerging oxide opportunity to Archimedes has the potential to provide meaningful, low-cost, near-term ounces. We continue to advance metallurgical test work and geological modeling, while the Archimedes feasibility study and supporting trade-off work will evaluate processing options for this oxide material, including the existing heap leach pad at Ruby and the CIL circuit at the Lone Tree plant. The 2026 infill drilling campaign commenced during the quarter from the exploration drift for the lower 426 and Ruby Deep zones in support of an updated resources model and mine plan. So far, this campaign has progressed a little slower than planned due to drill rig availability and contractor staffing constraints. As a result, the current campaign is expected to continue into early next year. These are moderate delays. We have seven rigs underground, and we are not able to operate all of them 24/7. However, we are looking at ways we can complete that, and it just means a slight delay in the technical report to be able to complete this drilling. The 2026 exploration guidance for Archimedes has been updated accordingly, and the feasibility study is now expected to be completed by approximately mid-2027. These results, together with the positive drilling results previously reported at Granite Creek Underground, continue to highlight the expansion potential at both underground mines, which are now expected to fill the Lone Tree plant into the mid-2030s and possibly longer. Moving to slide eight. At Cove Underground, we continued to advance technical and economic studies during the second quarter to further optimize work in support of the feasibility study anticipated late in the third quarter of 2026. Permitting activities also advanced as planned, including baseline studies and technical reviews. At Granite Creek Open Pit, preparation for a pre-feasibility study has commenced, with technical trade-off studies underway to optimize the project design and economics. Early-stage pre-permitting activities are also underway, with baseline field studies planned to commence in 2027 to support an expected NEPA permitting process. Moving to slide nine. Mineral Point Open Pit sits in phase III of the current development plan and is the company's largest asset by value. Given its value proposition, we continue to assess opportunities to optimize the sequencing of phase II and phase III of the development plan. A surface drilling campaign was initiated late in the first quarter, with approximately 15,800 meters of core and RC drilling completed during the first six months of the year, using up to five RC rigs and two diamond rigs. The program has focused primarily on infill drilling to support classified inferred resources. The drill program also encountered slower than planned progress due to drill rig and contractor staffing availability during the quarter, as well as slower than expected drilling rates through the softer sandy dolomite. Management expects to increase the overall drilling rate for the remainder of the year, with completion of this program now expected late in the first quarter of 2027. I just want to emphasize this is a large program and is targeting approximately 300 drill holes over 131,000 meters and is designed to infill the inferred resources to test opportunities to add resources through step-out drilling beneath the existing heap leach pad and support geotechnical and metallurgical studies for the Mineral Point pre-feasibilities, which is now expected approximately mid-2027, pending the progress of this drilling campaign. Turning to the Lone Tree processing plant on slide 10. We recently issued a press release highlighting the progress being made on the refurbishment. The project continues to advance on schedule, targeting first gold by the end of 2027, and the estimated project capital remains on budget with approximately 40% of capital committed as of mid-July. Demolition of the existing plant components requiring replacement commenced in June and continues to track the engineering study schedule. Procurement packages supporting the critical path remain on schedule and approximately 50% of the packages by value were awarded as of mid-July. Detailed engineering is progressing as planned and the Hatch construction team was fully mobilized during the second quarter. Third quarter priorities include advancing detailed engineering to approximately 60%, substantially completing the primary demolition and awarding key civil and concrete contracts. Permitting continues to align with the construction schedule with several permits received to date and further permits pending. With that, I will hand the call over to Ryan for a financial review. Thank you, Paul. Turning to slide 11, our balance sheet remains strong, supported by the successful completion of our recapitalization in the first quarter, stronger operations, the release of approximately $17 million in restricted cash and higher realized gold prices. We ended the quarter with a significant cash balance of approximately $465 million. This was a reduction from approximately $514 million at the end of the first quarter, which is in line with expectations. We continue receiving some of the anticipated proceeds from the November 2027 maturity date warrants with 8.5 million warrants exercised during the quarter. At quarter end, a total of 152 million warrants were outstanding of the original 186 million. In addition, we completed a termination and settlement agreement with Vox Royalty on a gold offtake agreement. This provides the company with increased flexibility to manage future gold sales and stockpiling opportunities in preparation for the commissioning of the Lone Tree plant. The company believes that eliminating the offtake also provides meaningful cash flow savings over the next 30 months. In March, we completed several financing transactions in support of the recapitalization plan, bringing total proceeds funded and committed to more than $1 billion since May of 2025. The second quarter was the first full quarter with these new financial instruments reflected on our balance sheet. I want to take this opportunity to emphasize that these instruments are carried at fair value and are updated each reporting period to reflect changes in metals prices and discount rates. As a result, these revaluations will have non-cash impacts on our income statement going forward. I also want to remind everyone that we still have available the $100 million accordion under the gold prepay facility with National Bank and Macquarie Bank, as well as an additional $25 million available to us from Franco-Nevada after we spend the initial $25 million toward advancing Mineral Point. Moving to slide 12. Company-wide gold production and sales for the quarter were approximately 11,100 ounces and 5,300 ounces respectively, compared to 4,200 ounces and 8,400 ounces in the prior year period. For the six-month period, gold production and sales were approximately 22,000 ounces and 16,000 ounces respectively, compared to about 14,300 and 13,400 ounces in the prior year period. The difference between gold produced and gold sold reflects the timing and availability of third-party processing. As Paul noted, the work in process inventory currently sits at over 5,300 recoverable ounces of gold. Total revenue for the quarter was just over $24 million, bringing year-to-date revenue to just under $77 million. This compares to $28 million and $42 million for the comparable prior year periods. The increase in six-month revenue is primarily due to more than 2,500 more gold ounces sold due to the ramp up at Granite Creek and an increase in the realized gold price to nearly $4,800 per ounce. These revenues drove gross profit to $9 million for the quarter and $25 million year- to- date, both of which have significantly increased from the prior year. Net loss for the quarter was $53 million, or $0.06 per share, and $131 million or $0.15 per share year- to- date, compared with a net loss of $30 million or $0.05 per share and $71 million or $0.14 per share in the prior year periods. The net loss was mainly due to higher non-cash accounting impacts tied to the revaluation of our financial instruments as discussed earlier, financing costs related to the recapitalization and increased pre-development expenses as we advance the development plan. Which we will begin to capitalize as we publish feasibility studies and declare commercial production, all partially offset by higher gross profit. Adjusted net loss increased to $41 million and $70 million for the quarter and year- to- date respectively, compared to $27 million and $50 million in the prior year periods. This was in line with our expectations, reflecting the continued ramp-up of our pre-development evaluation and exploration activities as we advance several development projects. As a reminder, under U.S. GAAP, which we transitioned to in 2024, pre-development evaluation and exploration costs are expensed until we declare mineral reserves. Cash used in operating activities increased to $50 million for the quarter and $95 million year-to-date, from $11 million and $34 million in the prior year periods, mainly due to a comparative inventory buildup from third-party processing delays, increased pre-development evaluation and exploration outflows as we ramp up activities, and interest paid on the repayment of legacy debt, all partially offset by increased gross profit. Moving to slide 13, looking ahead. We continue to see results from across the business trend in line with our expectations for the year, and we remain on track to achieve our 2026 guidance, subject to the following changes. Overall, growth capital expenditures are expected to be in line with the $150 million-$175 million guidance range on an accrual basis. The Lone Tree refurbishment growth capital is expected at the bottom end of guidance on an accrual basis. However, we anticipate approximately $30 million in accruals, resulting in the cash expenditure being below the guidance range. Management was conservative in estimating expenditures related to the refurbishment for 2026 during the recapitalization planning process earlier in the year to ensure the company raised sufficient capital. Archimedes underground growth capital expenditures are expected to be approximately $10 million-$15 million higher, reflecting a change in strategy for long-term surface infrastructure. Additionally, exploration expenses are expected to be approximately $10 million lower in 2026, mainly due to late delivery of drill rigs to the Ruby Hill property and contractor personnel shortages. Overall, we remain comfortable with our 2026 outlook. These changes primarily reflect timing and capital allocation rather than changes to our development objectives. I will now hand the call back to Richard to discuss upcoming catalysts. Well, thank you, Ryan. Ending with slide 14, we have clear near-term catalysts within the development plan that we expect to deliver on over the next 12 months. These include bringing Archimedes, our second mine, into production, advancing the plant refurbishment towards commissioning, completing feasibility studies for all three of our underground projects, and a pre-feasibility study for Mineral Point, our largest and most valuable oxide open-pit project. As we deliver these milestones, we believe we will close the valuation gap between our current market value and the underlying value of our asset base. The gold market has been volatile this year, but the long-term backdrop for gold remains constructive, and our focus remains on the factors we can control execution. We are very pleased with the progress made during the first half of the year, and we remain focused on carrying that momentum forward. Thank you again for your continued support. Joelle will now open the call for questions. Thank you. Ladies and gentlemen, we will now begin the question and answer session. Should you have a question, please press star followed by the one on your touchtone phone. You will hear a prompt that your hand has been raised. Should you wish to decline from the polling process, please press star followed by the two. If you are using a speakerphone, please lift the handset before pressing any keys. Your first question comes from Justin Chan with SCP Resource Finance. Your line is now open. Hi, Richard and team. Thanks for hosting the call. My first question is just in terms of Granite Creek, it sounds like you made good progress on development. Is that a function of more levels? Maybe just a bit more color on the areas where you had ground control trouble but then rehabbed them and your high-grade stope access. Was that all in the South Pacific Zone? I guess maybe just to characterize, you are pretty happy now with your level of development on the ramp and where you have access, going into Q3 and the H2? Yeah. Thanks. I will take that one. First of all, the ground conditions primarily were because it took us a bit of time to get a vent raise in, that allowed access into the high-grade zone that we thought we were going to be able to get in Q2. In fact, that is, we are mining that area now. It was just getting a vent raise in. Was that in the South Pacific Zone? No, in fact, that was in the OG zone, but there is some areas of some more challenging ground in the South Pacific as well. We also had, for a period of about two months, we had a small rib failure, so that is just the side of the drift. We needed to get MSHA involved, which we did, and it took us a little bit of time to get clearance to be able to mine in that area. Now we are mining those areas. Then in terms of all the development that we have been able to make, we really want to get in the range of 10- 12 headings, and right now we are about 15 or 16. Then that will allow us a lot of flexibility in the mine plan. But we needed to gain in the lateral development and the main decline to be able to do that, of which we are caught up. So in fact, we are caught up through to the rest of the year, and we will keep doing some lateral development so that we are always going to stay ahead. Gotcha. Maybe one follow-up on that concept. So how many stopes will you be drawing from in any given time in various phases of mucking and blasting relative to the 15 available number you mentioned? Then, just for the study, you hinted at that you plan to drop the cutoff grades, and grades will be more in line with what you have been mining. Is that in line with the high grade ore you have been mining? Because when you report, you split it out between high and low grade, or should we model more in line with the overall ore grades? It is the high grade that I am talking about, so it will be more consistent with that. Over the past three to four quarters, the reserves estimate will match that roughly because we are mining to around that cutoff grade in reality, and so the PEA had a lower gold price, so a higher cutoff grade. So we just want to provide notice that the grade in the upcoming fees will match that. Now, you mentioned about the 15 headings. So when we shoot our rounds, it typically takes about a day to clean up. We do not need to shoot 15 rounds at any given time, and then that supplies plenty of flexibility to be able to mine the given areas depending on where we are at in the mine plan. I hope that helps. Normally 10- 12 headings is sufficient, but right now we have got 15 or 16, right? 10- 12 to have plenty of flexibility. You don't need that either. But in the past it was five or six, and that created a lot of challenges and a lot of delays in the mining. Now we're well north of that. Awesome. That's great to hear. And maybe just one last one on Granite Creek, and I'll step offline and rejoin. I guess, are you looking at lower cutoff, let's say, more tons at grades you've been mining now, or similar tons to what was in the PEA on a daily or annual basis? Similar tons. I think I'm allowed to say that. No, it's going to be more tons, lower grade, similar ounces. Okay. Okay. Is where we are going to end up, Justin. The infill drill programs have confirmed largely both, I think, for Cove and for Granite Creek, the ounces in the PEA, give or take. But with some changes in modeling grades and lower cutoff grades will be a little bit lower. Your next question comes from Don DeMarco with National Bank Financial. Your line is now open. Thank you, operator. Good morning, Richard and team. To start off with Archimedes, I see that the FS timeline has shifted to mid-2027 due to some contractor staffing constraints. Does this later study have any impact on the mine ramp-up schedule or the Lone Tree feed assumptions? No, no. It's really just a matter of getting all the technical work in time for feasibility status, but in parallel. We're ramping up the mine plans on the execution and looking at opportunities for 2027 to be able to recover some of the oxide at site, as well as building up an inventory over at Lone Tree. Okay, thanks. Sorry, Don. I might just add that the drill program of the upper 426 zone that was completed earlier in the year will provide feed for several years in any event. Yeah, that's right. Okay, great. At Mineral Point, of course the recapitalization had earmarks and funds for permitting and technical work. Can you just outline the specific de-risking milestones investors might expect before the next study? I understand there has been some challenges with respect to the drilling and whatnot. Just if you could just lay out the kind of milestones before the next study. Thank you. Before the study? Well, the main part is we're going to be continuing with this campaign, and it's 430,000 feet, give or take. We'll be releasing results on that on a time-to-time basis. The main component will be to put that together into a pre-feasibility so that we can declare reserves by approximately mid-next year. That is pending on completion of this program. There's five RC and two diamond rigs, and that ratio will vary in time. We're also evaluating drilling at depth below the heap leach pad, so we're trying to understand that. As well, potential areas for expansion. As well, making sure we're very thorough on the geotech so that we don't have to go back to the well. Really, in terms of from now until the pre-feasibility study is released, it's really drilling results, and then perhaps initiating of permitting. That work is underway. That work is underway. We have already collected a number of composites, and we will be very thorough there. We will be releasing those results as they come. Yeah. We have been working with the community on the layout of the mine and got their sign-off through community discussions on where different facilities are going to go, waste dumps, leach pads, and things like that. We have been making a lot of progress with the community, and it continues to move forward because between Archimedes and Ruby Hill, this is going to be the most valuable asset portfolio. Eureka is a small mining town, but we are looking to reinvest in that town and create a very attractive place for people to work. Well, that is great to hear. The pre-feasibility will also evaluate a number of opportunities as trade-off studies. For example, potential on the silver recovery, maybe perhaps overall gold recovery, looking at crushing options, and potential for some optimization of the pit design. There is a number of trade-off studies that are going to be part of the pre-feasibility. And just by way of background, Barrick originally had that asset, and they did a lot of technical work. So that project was quite well advanced before we even picked up that PEA. And Stevie Ops, who is on our board, was actually the general manager at Ruby between 2010 and 2014 when all that work was done. So they had some of the same drill issues with that same dolomite that we're having now, but I think Tyler's found a way to address it. Okay. Well, that's great to hear. Look forward to all that progress coming to fruition. Well, that's all for me. Thanks again for taking my questions. Thanks, Don. I will now hand the conference over to Caterina for questions on the web. Thanks, operator. We have a question online that says, are you planning on stockpiling sulfide material in 2027 to ensure enough ore for Lone Tree in 2028? Yes. We are building up, there are several different opportunities here. First of all, we will be building up sulfide from both Granite Creek and Archimedes during 2027 so that we have sufficient feed for the plant once that starts at the end of 2027. Second thing is there is going to be significantly better margins when we actually operate Lone Tree compared to our current arrangement. If we can afford it, which we feel we can, that will help a lot. On the oxide, yes, the high-grade oxide can feed through the CIL. We are evaluating that, but we are also evaluating leaching at the Ruby pad, and there may be an opportunity there that might actually be more economically beneficial than to haul it to Lone Tree. Either way, we will be building up the high-grade oxide as well. Okay. We have another online question. Is September or October 2027 a reasonable assumption for starting to push the high-grade oxides through the CIL plant at Lone Tree to confirm. We just touched on that question. Sorry. I will go to part two of this question. Has drilling contractor availability improved any risk to the schedule at Mineral Point related to hydrogeological drilling or geotech work for submissions related to permits, or is this more just a push in the pre-feasibility study for now? Again, it looks like we covered that, but if you have any further comments. Just on the geotechnical component. The potential additional footage that we need to do, that comes from the underground, and that is really just so that we can evaluate some different mining methods. We are still confirming that we need to do it. The contractor availability, we are looking at ways, but it will be a challenge to staff up, because if you add up both Mineral Point and Archimedes underground, that is 14 rigs. That is substantial, and we need to do this work safely and effectively. Okay. There are no further online questions. I will now hand the call back to the operator. There are no further questions at this time. I will now turn the call over to management for closing remarks. I would like to thank everybody for joining us today. We are excited by the progress we have made. The recapitalization now allows us to focus on the execution. These oxide drill results at Archimedes have the potential to make a meaningful difference to our production cash flows as early as next year. We are pleased the way the team is executing and our ability to continue to hire and retain really good people in Nevada. I would like to thank everybody for joining us today, and if you have any follow-up questions, please feel free to reach out to Kat Whaley or Candida, who just recently joined us. Thank you for your time today. Ladies and gentlemen, this concludes your conference call for today. 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