i-80 Gold Corp.

Lifecycle Milestones

1. Permit granted

   Reached — date not disclosed · Granite Creek is a previously-permitted historic mine; NDEP has issued/renewed water pollution control and waste-management permits (e.g. NEV2005103) covering the restart, but no single permit-grant release tied to i-80's redevelopment was located. · Source
2. Construction decision (FID)

   Feb 2022 · No separately dated 'board approves construction' release distinct from the commencement announcement itself: i-80 Gold's February 23, 2022 release announcing the start of its Granite Creek underground mining program ('mining of the stope access... is now underway') is the company's real decision-equivalent event, following the November 9, 2021 PEA that had explicitly flagged the company was 'commencing test mining in advance of making a production decision for the underground mine.' Dated to the same release as the already-recorded CONSTRUCTION_START rather than inventing a distinct earlier date (same convention as the EDR row in the Task #430 batch3 script). · Source
3. Construction start

   Feb 2022 · i-80 Gold announced commencement of its underground mining program at Granite Creek, with first stope access underway. · Source
4. First pour / production

   Jul 2022 · i-80 Gold began shipping Granite Creek ore to Nevada Gold Mines' Twin Creeks facility under a toll-milling agreement, its first ore/production milestone under company ownership. · Source
5. Commercial production

   Reached — date not disclosed · Genuinely reached, but no single clean declared threshold exists: i-80 Gold's Ruby Hill property (Eureka District, Nevada -- oxidized ore mined there since 1873 under many prior owners, acquired by i-80 Gold from Waterton in July 2021) has produced gold from residual heap-leach operations on an incremental basis since initial gold sales in March 2022, while Granite Creek (underground, Nevada) has been gradually ramping production since roughly 2023 and was still described as "ramping up" as of Q2 2026 (11,098 oz produced in the quarter, up from 4,178 oz in Q2 2025) rather than having a declared commercial-production threshold. Archimedes (Ruby Hill) gold mining and major Lone Tree construction are both targeted for Q4 2026, not yet part of this claim; Cove/McCoy-Cove remains an advanced exploration/feasibility-stage project. Rather than force a date onto a genuinely gradual, multi-source ramp, achievedDate is left null. This row was missing entirely prior to 2026-08-21 -- a genuine data gap, not a stage error; Miner.stage was already correctly PRODUCTION. [Task #538 re-verification, 2026-08-22] CONFIRMED CORRECT -- stronger citation added, one omission corrected. Fresh primary-source research (SEC EDGAR 10-K/10-Q, company IR page, PR Newswire -- cross-verified across 3 independent retrievals after sec.gov 403'd the direct fetcher) confirms real, substantial, audited revenue, not token/residual sales: FY2025 10-K reported audited revenue of $95.2M (up 89% from FY2024's $50.3M), 28,196oz sold at $3,368/oz average realized -- two consecutive audited years of real sales. Q2 2026 (10-Q filed 2026-08-10) reported $24.3M revenue / 5,335oz sold across three properties (Granite Creek $9.4M/2,052oz, Lone Tree residual heap leach $11.9M/2,593oz, Ruby Hill $3.1M/690oz); H1 2026 totaled $76.7M revenue / 15,923oz, with positive gross profit of $8.6M (Q2) and $24.7M (H1) -- not merely production, real margin. Cash was $464.6M at 6/30/26 with no going-concern language; the company states "sufficient liquidity to meet its obligations as they become due." The ~$1.0B of 2026 capital raises (converts, Franco-Nevada NSR, gold prepay, debt refinance) are explicitly framed as funding growth capex (Archimedes development, Lone Tree plant refurbishment, $150-175M 2026 capex guidance) rather than masking absent sales -- net losses are driven by predevelopment/exploration expense, not by lack of revenue. The ore sales agreement's "56% payable factor" is a standard ore-purchase discount on material that IS sold, not an EXN-style "not payable metal" disclaimer. Correction to the existing note: it credited only Ruby Hill and Granite Creek and omitted Lone Tree residual heap leach, which was actually the single largest Q2 2026 revenue contributor ($11.9M) -- now named. Resolves the "no $ figure cited" gap Task #521-style citation-completeness criterion would flag -- not a stage or milestone question. No stage or milestone change; achievedDate left as-is (still null, genuinely no single clean declared threshold across three properties reaching production at different times). · Source

Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.

A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.