i-80 Gold updates Nevada development plan, prioritizes Mineral Point

i-80 Gold Corp. (NYSE: IAUX) issued an update on its Nevada development plan, saying its Archimedes underground mine and Lone Tree Plant refurbishment remain on schedule, while revising the sequence of future projects to prioritize the Mineral Point open pit.

The company said Archimedes underground is on track to begin production mining in the fourth quarter of 2026. At the Lone Tree Plant, bulk demolition was completed in the third quarter of 2026, and mobilization has begun for initial construction. The plant's total capital cost estimate stands at $430 million, with approximately 10% of the total contingency drawn down and roughly 44% of capital committed as of the end of the third quarter. Labor costs are running 5% to 10% above initial estimates due to competitive wages in Northern Nevada, though the company said these remain within the allotted contingency. About 74% of procurement packages, by value, have been awarded.

The Lone Tree Plant is targeted for first gold pour in the fourth quarter of 2027. Based on a December 2025 engineering study, the refurbished plant is expected to reduce third-party processing costs by $1,000 to $1,500 per ounce of gold, depending on grade and gold price.

In its updated development plan, i-80 Gold said it is moving Mineral Point open pit ahead of Granite Creek open pit as its next major development project. According to a March 2025 preliminary economic assessment, Mineral Point has the potential to add approximately 280,000 gold equivalent ounces of annual production over a 17-year mine life. A pre-feasibility study for Mineral Point is targeted for approximately mid-2027.

The company also said that resource expansion at Granite Creek and Archimedes underground supports delaying the Cove underground project to a later stage in the development pipeline.

Production targets, which are based on mineral resources and not declared mineral reserves for most projects, include 150,000 to 200,000 ounces of annual gold beginning in 2028, rising to 400,000 to 500,000 ounces beginning in 2031 with Mineral Point in operation, and 500,000 to 600,000 ounces in the early 2030s under the broader plan.

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