i-80 Gold Continues to Expand "South Pacific Zone" at Granite Creek

New Results Include 25.5 g/t Au over 5.5 m , 11.0 g/t Au over 9.1 m & 17.2 g/t Au over 4.2 m

i-80 Gold Corp. (TSX: IAU) (OTCQX: IAUCF) ("i-80", or the "Company") is pleased to announce that continued drilling was successful in further delineating a new high-grade horizon, the South Pacific Zone ("SPZ"), at the Company's Granite Creek Property ("Granite Creek" or "the Property") located in Humboldt County, Nevada .

Surface drilling is targeting the expansion of mineralization at depth below, and to the north of, the mine workings at Granite Creek. The high-grade results received to-date from SPZ have exceeded expectations and suggests potential to substantively expand mineral resources on the Property. To-date, results have been received for the first of eleven (11) holes of sixteen (16) drill holes now completed to test the SPZ target with all drill holes that have reached the target returning impressive gold grades and widths of mineralization. Owing to the early success of the expansion drilling, the 2022 program has been expanded to ~30,000m of drilling and additional drill rigs have been added both on surface and underground.

Highlight results from SPZ drilling:

17.2 g/t Au over 3.8 m and 22.0 g/t Au over 3.4 m in hole iGS21-07
10.5 g/t Au over 3.8 and 8.0 g/t Au over 4.8 m in hole iGS21-08
17.2 g/t Au over 4.2 m in hole iGS21-10
25.5 g/t Au over 5.5 m in hole iGS21-11
11.0 g/t over 9.1 m including 15.5 g/t over 5.5 m in hole iGS21-12

Drilling of the SPZ has been elevated to the primary exploration target on the Property with multiple drill rigs completing delineation drilling as well as step-out drilling designed to continue to expand mineralization along strike and at depth where the deposit remains open. It is anticipated that SPZ will be included in a resource update following the 2022 drill campaign. High-grade mineralization occurs at the contact of the Upper and Lower Comus Formation rock units, and also associated with interpreted north to northeast striking splay faults resulting in multiple intercepts in some holes and remains wide open at depth and along strike to the north (see Figures 1 and 2).

"The consistency of high-grade gold mineralization in the South Pacific Zone is truly impressive as the ongoing drill program continues to demonstrate the significant upside opportunity at Granite Creek," stated Ewan Downie , Chief Executive Officer of i-80. "Including programs at Ruby Hill and McCoy-Cove in 2022, we expect to drill in excess of 50,000 metres in 2022 with a goal of expanding our already enviable resource base."

High-grade mineralization at Granite Creek occurs in a near-identical geological setting as that at Nevada Gold Mines' ("NGM"), multi-million-ounce Turquoise Ridge Mine that is located immediately to the north (see Figure 3); proximal to a major regional fault (the Getchell or Range Front fault) on the eastern edge of the large Osgood Mountains intrusive complex. The Granite Creek deposit remains open at depth and along strike from the existing underground workings.

It is expected that refractory mineralization mined from the underground operation at Granite Creek will initially be trucked to Twin Creeks for processing, pursuant to the agreement with NGM, until such time that the Company's Lone Tree facility is operational.

Table 1 – Summary Assay Results from SPZ Drilling

New 2021 Drill Results from SPZ at Granite Creek, estimated true widths 70-80%
Drillhole ID	Type	From (m)	To (m)	Length (m)	Au (g/t)
iGS21-07	Core	352.0	355.9	3.8	17.2
iGS21-07	Core	368.1	371.6	3.4	22.0
iGS21-08	Core	356.2	360.9	4.8	8.0
iGS21-08	Core	419.7	423.5	3.8	10.5
iGS21-08	Core	517.6	522.1	4.6	6.3
iGS21-08	Core	535.5	537.5	2.0	11.9
iGS21-09	Core	390.1	391.5	1.4	6.2
iGS21-09	Core	422.5	423.5	1.1	5.9
iGS21-10	Core	424.6	428.8	4.2	17.2
iGS21-10	Core	433.1	434.0	0.9	12.6
iGS21-11	Core	416.4	417.6	1.2	9.7
iGS21-11	Core	436.5	442.0	5.5	25.5
iGS21-12	Core	389.5	391.1	1.5	5.4
iGS21-12	Core	441.8	451.0	9.1	11.0
Including	Core	442.6	448.1	5.5	15.5

Previously released 2021 Drill Results from SPZ at Granite Creek, estimated true widths 70-80%
Drillhole ID	Type	From (m)	To (m)	Length (m)	Au (g/t)
iGS21-01	Core	386.6	392.7	6.1	12.8
iGS21-03	Core	391.4	398.5	7.1	16.3
iGS21-04	Core	288.0	289.6	1.5	37.36
iGS21-04	Core	326.3	329.8	3.4	16.4
iGS21-04	Core	336.7	337.9	1.2	44.14
iGS21-04	Core	468.3	478.5	10.2	14.7
iGS21-05	Core	398.4	403.7	5.3	16.5
iGS21-05	Core	444.7	451.4	6.7	5.1

Table 1a Collar Coordinates
UTM	Drillhole ID	East m	North m	Elevation m	Azimuth	Dip
NAD83 Zone 11	iGS21-01	478579	4554235	1466	308	-46
	iGS21-03	478323	4554119	1556	352	-55
	iGS21-04	478323	4554116	1556	340	-64
	iGS21-05	478327	4554119	1554	351	-59
	iGS21-06	478325	4554119	1554	338	-59
	iGS21-07	478541	4554160	1472	315	-46
	iGS21-08	478541	4554161	1472	311	-48
	iGS21-09	478578	4554235	1466	315	-45
	iGS21-10	478579	4554416	1550	280	-67
	iGS21-11	478579	4554414	1550	286	-73
	iGS21-12	478580	4554411	1549	265	-67

The Granite Creek Property is strategically located proximal to Nevada Gold Mines' Turquoise Ridge and Twin Creeks mines at the north end of the Battle Mountain-Eureka Trend, at its intersection with the Getchell gold belt in Nevada .

QAQC Procedures

All samples were submitted to Paragon Geochemical Assay Laboratories (PAL) of Sparks, NV , which is an ISO 9001 and 17025 certified and accredited laboratory, independent of the Company. Samples submitted through PAL are run through standard prep methods and analyzed using FA-Pb30-ICP (Au; 30g fire assay) and 48MA-MS (48 element Suite; 0.5g 4-acid digestion/ICP-MS) methods. PAL also undertake their own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. i-80 Gold Corp's QA/QC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results. Historic holes were assayed by various accredited laboratories. Refer to the November 9 ^th , 2021 Granite Creek Mine Project Preliminary Economic Assessment NI 43-101 Technical Report for information on historic assays.

Qualified Person

Tim George, PE, is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101.

About i-80 Gold Corp.

i-80 Gold Corp. is a well-financed, Nevada -focused, mining company with a goal of achieving mid-tier gold producer status through the development of multiple deposits within the Company's advanced-stage property portfolio to complement existing gold production from the Ruby Hill open pit.

Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws, including but not limited to, the expansion or mineral resources at Granite Creek and the potential of the Granite Creek project, . Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the Company's current expectations regarding future events, performance and results and speak only as of the date of this release.

Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to: material adverse changes, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.

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IAU:CA

i-80 Gold Awards Contract for Lone Tree Autoclave Engineering Study

Bolsters Nevada Operation Team with Multiple Key Hires

i-80 Gold Corp. (TSX: IAU) (OTCQX: IAUCF) ("i-80", or the "Company") is pleased to announce it has awarded the engineering study for restart of the Lone Tree autoclave to Hatch Ltd. The study will complete a Pre-Feasibility Study ("PFS") level mechanical and operational review of all aspects necessary for the restart of the Company's autoclave processing facility located in northern Nevada. Additionally, as a part of its comprehensive plan to create a Nevada focused gold mining company, i-80 has recently filled multiple key positions continuing to build a tier-one operations team.

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i-80 Gold CEO Increases Share Ownership to More than 5 Million Shares

i-80 Gold Corp. (TSX: IAU) (OTCQX: IAUCF) ("i-80", or the "Company") notes that that its CEO, Ewan Downie has reported on System for Electronic Disclosure by Insiders (SEDI) recent purchases of common shares of the Company through open market purchases on the Toronto Stock Exchange to increase his share ownership to 5,000,027 or 2.09%.

Since the Company commenced trading on April 14, 2021 , Mr. Downie has purchased more than 1.4 million shares of i-80 to reach an ownership milestone rarely held by executives of publicly traded companies in the mining sector.

"Since the inception of the Company less than one year ago, we have closed multiple major transactions that position i-80 as one of the largest holders of gold and silver resources in Nevada ", stated Ewan Downie , Chief Executive Officer of i-80. "We have secured a strong balance sheet including nearly US$200 Million in cash and cash equivalents following funding of the previously announced financing package and have embarked on a peer-best production growth initiative in the world's most favorable mining jurisdiction".

About i-80 Gold Corp.

i-80 Gold Corp. is a well-financed, Nevada -focused, mining company with a goal of achieving mid-tier gold producer status through the development of four new open pit and underground mining operations that will ultimately process ore at the Company's centrally located Lone Tree complex that includes an Autoclave.

www.i80gold.com

Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws, including but not limited to, commencement of trading of i-80 Gold on the Toronto Stock Exchange and completion of the acquisition of the Getchell Project. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the Company's current expectations regarding future events, performance and results and speak only as of the date of this release.

Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to: material adverse changes, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.

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i-80 Gold Announces C$12,576,000 Top-Up Subscription by Equinox Gold

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES /

i-80 Gold Corp. (TSX: IAU) (OTCQX: IAUCF) ("i-80", or the "Company") is pleased to confirm that Equinox Gold Corp. (" Equinox ") has exercised its right under the support agreement (the " Agreement ") dated April 7, 2021 between the Company and Equinox to defend its pro rata ownership of i-80 shares on a partially-diluted basis following the recent issuance of shares by the Company in connection with the acquisitions of the Lone Tree and Buffalo Mountain gold deposits from Nevada Gold Mines LLC and the Ruby Hill mine from affiliates of Waterton Global Resource Management. In connection with the Agreement, Equinox subscribed for 4,800,000 new common shares of the Company at a price of C$2.62 per common share, for gross proceeds to the Company of C$12,576,000 (the " Subscription ").

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Top 5 Canadian Mining Stocks This Week: Lion Rock Jumps 60 Percent

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

The Liberal Party of Canada and Prime Minister Mark Carney will form a minority government following their victory in Canada’s national election on Monday (April 28). The Liberals won 168 seats, just shy of the 172 required to form a majority, meaning the Liberal government will have to work with the Bloc Québécois or the NDP, which won 23 and 7 seats, respectively.

The Conservative Party of Canada, led by Pierre Poilievre, won 144 seats. While the CPC was originally expected to win the election, the trade war and sovereignty threats from new US President Donald Trump turned the tide in favor of Carney, who took a firmer stance against Trump. Other election issues included the high cost of living, housing, immigration and crime.

Both parties came into the election with visions for Canada’s economy, which included energy and infrastructure corridors, a commitment to energy production and a focus on resource nationalism.

Statistics Canada released February’s gross domestic product by industry figures on Wednesday (April 30). According to the data, the resource sector’s January gains were largely erased by contractions in February. Oil and gas extraction slipped by 2.8 percent, while mining and quarrying contracted by 2.6 percent during the month. Metal ore mining posted its second month of declines, falling 2.5 percent. On the other hand, non-metallic mineral mining climbed by 2.7 percent, including a 3.5 percent rise in potash mining.

South of the Border, The United States Bureau of Labor Statistics released its April employment situation summary on Friday (May 2). In the report, the agency said that 177,000 new nonfarm jobs were added to the economy in April, which exceeded analysts’ expectations of 133,000 jobs.

The biggest gains came in the healthcare sector, which added 51,000 workers, followed by transportation and warehousing, where 29,000 people found new employment.

Overall, the unemployment rate remained steady at 4.2 percent, and the participation rate was unchanged at 62.6 percent.

However, there were some caveats, most notably, downward revisions of 15,000 fewer jobs in February and 43,000 jobs in March than initially reported.. Long-term unemployment also ticked up by 179,000 to 1.67 million in April, the highest since March 2022.

While the number showed strength in the job market, many analysts expect these gains to be temporary, as the effects of US tariffs have yet to be felt in the economy.

The US government also announced on Wednesday that it signed a critical minerals deal with Ukraine. Under the terms of the agreement, the US will provide funding for Ukraine’s reconstruction in exchange for preferential access to the country’s natural resources, including rare earth minerals, which are critical to tech and military development and supply chains.

Additionally, the Trump administration announced it added 10 new projects to be fast-tracked to its federal permitting dashboard on Friday. The projects include the NorthMet copper and nickel project in Minnesota, which is a 50/50 joint venture between Teck (TSX:TECK.A,TECK.B,NYSE:TECK) and Glencore (LSE:GLEN,OTC Pink:GLCNF), as well as Sibanye Stillwater’s (NYSE:SBSW) Stillwater platinum and palladium project in Montana.

Markets and commodities react

In Canada, major indexes posted gains by the week's close. The S&P/TSX Composite Index (INDEXTSI:OSPTX) gained 1.32 percent during the week to close at 25,031.51 on Friday, the S&P/TSX Venture Composite Index (INDEXTSI:JX) moved up 0.01 percent to 656.40 and the CSE Composite Index (CSE:CSECOMP) climbed 2.52 percent to 122.75.

US equity markets also posted gains by close on Friday, with the S&P 500 (INDEXSP:INX) increasing 2.85 percent to close at 5,686.66, the Nasdaq-100 (INDEXNASDAQ:NDX) gaining 3.45 percent to 20,102.61 and the Dow Jones Industrial Average (INDEXDJX:.DJI) rising 2.8 percent to 41,317.44.

The gold price fell from recent highs, closing out Friday at US$3,233.98, down 2.56 percent over the week. The silver price was also down, shedding 3.21 percent during the period to US$32.03.

In base metals, the COMEX copper price fell 4.29 percent over the week to US$4.69 per pound. Meanwhile, the S&P GSCI (INDEXSP:SPGSCI) was down 3.17 percent to close at 520.19.

Top Canadian mining stocks this week

So how did mining stocks perform against this backdrop?

Take a look at this week’s five best-performing Canadian mining stocks below.

Stock data for this article was retrieved at 3:30 p.m. EDT on Friday using TradingView's stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.

1. Lion Rock Resources (TSXV:ROAR)

Weekly gain: 60 percent
Market cap: C$20.51 million
Share price: C$0.32

Lion Rock Resources is a gold and critical mineral exploration company focused on advancing its Volney gold-lithium-tin project in South Dakota, United States.

The property is situated on 142 hectares of private land with surface and mineral rights in place. The site hosts historic gold and tin mining operations dating back to the 1920s. Additionally, the site contains the Giant Volney pegmatite body, from which 15 grab samples graded an average of 4.4 percent lithium oxide, with the highest grading 5.4 percent.

The most recent news from the project came on Thursday (May 1) when Lion Rock announced that it had started its 2025 exploration program, including a high-resolution magnetic survey, mapping and sampling. The company said that the program will target high-grade lithium, gold and tin, and results will be used to refine drill targets and expand known mineralized zones.

The company also released its year-end 2024 financial report on Tuesday (April 29).

2. Foremost Clean Energy (CSE:FAT)

Weekly gain: 42.86 percent
Market cap: C$14.27 million
Share price: C$1.30

Foremost Clean Energy is a uranium exploration company working to advance projects in the Athabasca Basin in Northern Saskatchewan, Canada.

In 2025, its primary focus has been its Hatchet Lake property, part of its Eastern Athabasca projects. The site consists of nine mineral claims within two blocks covering an area of 10,2012 hectares and has seen exploration dating back to the 1960s.

Foremost announced in October 2024 that it had completed the first phase of an option agreement with Denison Mines (TSX:DML,NYSEAMERICAN:DNN) to acquire a 20 percent stake in 10 uranium properties, including Hatchet Lake, in exchange for 1.37 million common shares.

Under the terms of the agreement, Foremost can earn up to a 70 percent stake in the properties in exchange for meeting certain milestones within 36 months.

This Thursday, Foremost announced a new uranium discovery at Hatchet Lake from initial results of the company’s ongoing inaugural drill program.

In the announcement, the company said the discovery included multiple intervals of mineralization, highlighting one grading 0.22 percent equivalent U3O8 over 0.9 meters, including an intersection of 0.5 percent over 0.1 meters.

3. Baru Gold (TSXV:BARU)

Weekly gain: 42.86 percent
Market cap: C$13.53 million
Share price: C$0.05

Baru Gold is a development company working to advance its Sangihe gold project in Indonesia.

The company holds a 70 percent stake in the 42,000 hectare project, with the remaining 30 percent interest held by three Indonesia-based companies.

Baru Gold is progressing towards approval of its production operations plan, which was redesigned due to the significant macroeconomic shift and increase in the gold price since its last mineral resource estimate in May 2017.

On February 14, the company published a technical report with an updated mineral resource estimate. The mineral resource estimate demonstrated an indicated resource of 114,000 ounces of gold and 1.93 million ounces of silver from 3.15 million metric tons of ore with grades of 1.12 grams per metric ton (g/t) gold and 19.4 g/t silver. The project also hosts an inferred resource of 91,000 ounces of gold and 1.08 million ounces of silver from 2.3 million metric tons of ore with grades of 1.22 g/t gold and 14.5 g/t silver.

The update marks a significant step towards government approval for production operations status, with the only remaining requirement being the payment of taxes.

The most recent news came on April 2 when the company announced the closing of the first tranche of a private placement for C$336,321.88. Funding raised through the placement will be used in part for payment of land use taxes on the Sangihe property.

4. Taranis Resources (TSXV:TRO)

Weekly gain: 42.5 percent
Market cap: C$21.07 million
Share price: C$0.285

Taranis Resources is a copper explorer focused on advancing work at its Thor project in Southeast British Columbia, Canada.

The site has seen previous mining dating back to the early 1900s and hosts at least seven different epithermal zones. In a February mineral resource estimate update, the company reported an indicated resource of 1.14 million metric tons of ore containing 27,400 ounces of gold, 5.58 million ounces of silver, 3.1 million pounds of copper, 47.8 million pounds of lead and 77.9 million pounds of zinc.

The most recent news from the Thor project came on April 9, when Taranis provided an update on its 2024 deep drilling program. The company finalized an alteration study of the drill holes, which encountered anomalous gold, zinc and arsenic, and plans to use the results to improve targeting and lower costs for its 2025 drilling program.

5. Black Iron (TSX:BKI)

Weekly gain: 41.18 percent
Market cap: C$38.02 million
Share price: C$0.12

Black Iron is an exploration and development company working to advance its Shymanivske iron project in Ukraine.

The 300 hectare property is located approximately 330 kilometers south-east of the capital of Kiev and is situated within the well-known iron ore mining district of KrivBass.

According to a March 2020 preliminary economic assessment, project economics demonstrated an after-tax net present value of US$1.44 billion at a discount rate of 10 percent with an internal rate of return of 34.4 percent and a payback period of 3.3 years.

The included mineral resource estimate reported a measured and indicated resource of 645.8 million metric tons of ore with an average grade of 31.6 percent total iron and 18.8 percent magnetic iron.

Although Black Iron did not release any news this week, the company’s share price gained alongside news of the US and Ukraine reaching a critical minerals agreement.

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

How many mining companies are listed on the TSX and TSXV?

As of February 2025, there were 1,572 companies listed on the TSXV, 905 of which were mining companies. Comparatively, the TSX was home to 1,859 companies, with 181 of those being mining companies.

Together the TSX and TSXV host around 40 percent of the world’s public mining companies.

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange's trading hours.

Article by Dean Belder; FAQs by Lauren Kelly.

Don't forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.

North Bay Resources Announces Gold Concentrate Shipment, Advancement of Flotation Circuit at Bishop Gold Mill California

North Bay Resources, Inc. (the " Company " or " North Bay ") (OTC: NBRI) is pleased to announce delivery of 344 lbs. of gold concentrate to the Company's refinery partner Just Refiners, Reno, NV. Assay splits have been sent to ALS Geochemistry Reno, Nevada. Ore from the Company's Fran Gold Project was processed at the Company's Bishop Gold Mill. The concentrate represents approximately 15 tons of gross ore processed. Recent repairs to the Company's RakerClassifier and replacement of balls in the ball mill have been implemented to produce a finer grind targeting minus 150 mesh. This grind has been determined to be optimal for recovery. The concentrate is from the gravity only circuit with the flotation circuit currently under optimization and testing ( See Pic 1) . The Company recently received settlement on its first concentrate shipment ( see Press Release dated April 7, 2025 ),

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Successful Capital Raising to Accelerate Exploration at the High Grade Myrtleford Project

Advance Metals Limited (“Advance” or “the Company”) is pleased to announce the successful completion of a capital raising initiative to fully fund a follow-up exploration program at the Myrtleford Project in Victoria. The Company has secured firm commitments to raise $2.55 million (before costs) through a single-tranche Placement to institutional and sophisticated investors. Evolution Capital acted as Lead Manager for the raising, with significant backing from key existing AVM shareholders.

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Corporate Growth
Goal	Status
Build Tier-One Management Team	Underway – Several key positions secured
Secure Finances to Execute Growth	Currently ~US$200M in cash and cash equivalents
Align with ICMM Principles	Underway
Lone Tree Complex
Goal	Status
Complete autoclave and metallurgy studies	Underway - Awarding Study Contracts
Place long lead time orders for autoclave refurbishment	To be ordered once appropriate studies are completed
Residual leaching program	Underway – Gold production expected in 2022 ¹
Granite Creek
Goal	Status
Achieve consistent ramp up mining rate	Ramp up plan underway
Commence delivery of mineralization to NGM for processing	Targeting first delivery in H2-2022
Complete 20,000 m drill program	Underway – drill results throughout the year
Complete updated mineral resource estimate	To be completed after drill program – update plan YE 2022
Complete underground feasibility study	Targeting completion in H2-2022
Ruby Hill
Goal	Status
Complete +20,000 metre surface drilling campaign	Underway – drill results throughout the year
Submit permitting for an underground mining operation	Work to initiate permitting underway
Heap leach processing of 2021 mined material	Underway – Gold production expected in 2022
Complete updated mineral resource estimate	To be completed after drill program – update plan YE 2022
Complete PEA or Pre-Feasibility study	Targeting completion in H2-2022 ¹
McCoy-Cove
Goal	Status
Initiate underground development program	Award Development Contract Q1-2022
Commence 40,000 metre Underground Drill Program	Targeting H2-2022 start once ramp is sufficiently developed
Complete mine dewatering strategy	Underway – Targeting completion in 2022
Buffalo Mountain (and Brooks)
Goal	Status
Complete permitting of the heap leach open pit operation	Underway – Targeting completion in 2022
Complete resource estimate	Underway – Targeting release in H2-2022
¹ See Cautionary Note Below

Table 2 – Granite Creek Underground Mineral Resources
Resource Class	Tonnes (1000's)	Gold Grade (g/t)	Gold Oz (000's)
Measured	483	10.07	156
Indicated	525	10.70	181
M&I	1,008	10.40	337
Inferred	741	13.41	319
Notes: 1) Mineral Resources are not Mineral Reserves, and as such, do not have demonstrated economic viability. 2) Cut-off is 5 gpt based on Mining Cost of $100/ton, Process Cost of $106/ton, recovery of 92%, and a gold price of $1600/t. oz. 3) The effective date is May 4, 2021. 4) Figures are rounded and may show apparent errors in subtotals. 5) Preliminary Economic Assessment NI 43-101 Technical Report Granite Creek Mine Project, Humboldt County, Nevada, USA. Effective date - May 4, 2021. Report date – November 9, 2021.

Table 3 – McCoy Cove Mineral Resources
Resource Classification	Tonnes (000's)	Gold Grade (g/t)	Silver Grade (g/t)	Gold Ounces (000's)	Silver Ounces (000's)
Indicated	1,007	10.9	29.1	351	943
Inferred	3,867	10.9	20.6	1,353	2,565
Notes: 1) Mineral Resources have been estimated at a gold price of $1,500 per troy ounce. 2) Mineral Resources have been estimated using gold metallurgical recoveries of 79.5% and 85.2% for roasting and pressure oxidation, respectively. 3) Mineral Resources have been estimated using a gold equivalent cutoff grade of 0.141 opt. 4) One ounce of gold is equivalent to 98 ounces of silver. 5) The effective date of the Mineral Resource estimate is January 1, 2021. 6) Mineral Resources are not Mineral Reserves, and as such, do not have demonstrated economic viability. 7) Preliminary Economic Assessment for the Cove Project, Lander County, Nevada. Effective date – January 1, 2021. Report date – April 13, 2021

Table 4 - i-80 Mineral Resources
Resource Classification	Tonnes (000's)	Au Grade (g/t)	Ag Grade (g/t)	Au Ounces (000's)	Ag Ounces (000)'s
Measured
Granite Creek - Open Pit	20,857	1.47		988
Granite Creek -Underground	483	10.07		156
Lone Tree -Open Pit
McCoy-Cove - Underground
Ruby Hill - Open Pit
Ruby Hill - Underground
Indicated
Granite Creek - Open Pit	7,448	1.27		304
Granite Creek - Underground	525	10.70		181
Lone Tree - Open Pit	7,223	1.77		410
McCoy-Cove - Underground	1,007	10.90	29.1	351	943
Ruby Hill - Open Pit	224,400	0.54	14.3	3,874	103,335
Ruby Hill - Underground	1,200	5.22	0.6	202	22
Measured & Indicated	263,144	0.76	12.33	6,465	104,300
Inferred
Granite Creek - Open Pit	1,531	1.26		62
Granite Creek - Underground	741	13.41		319
Lone Tree - Open Pit	50,734	1.69		2,764
McCoy-Cove - Underground	3,867	10.90	20.6	1,353	2,565
Ruby Hill - Open Pit	162,700	0.39	14.0	2,062	73,472
Ruby Hill - Underground	8,210	6.02	1.7	1,588	439
Inferred	227,783	1.11	10.4	8,148	76,476
Notes: 1) MCOY-COVE: Mineral Resources were calculated at a gold price of US$1500/oz, cut-off grade 0.141 opt Au. and is based on the Preliminary Economic Assessment issued by i-80 on April 13, 2021. Practical Mining LLC, under the supervision of Dagny Odell, P.E., Laura Symmes, SME, and Robert Raponi, P. Eng., each being Qualified Persons within the meaning National Instrument (NI) 43-101, was the lead consultant for the Project PEA. 2) GRANITE CREEK: Mineral Resources have an effective date of May 4, 2021 and are based on the mineral resource technical report issued by i-80 on October 29, 2021. The Qualified Persons for the estimate are Terre Lane QP-MMSA and Hamid Samari QP-MMSA of GRE. Open Pit Mineral resources are reported at a 0.35 g/t cutoff, an assumed gold price of 1,800 $/tr. oz, using variable recovery, a slope angle of 41 degrees, 6% royalty, heap leach processing cost $9.92 per tonne (includes admin), CIL processing cost of $17.63 per tonne (includes admin). Underground mineral resources are reported at a cut-off grade of 5 gpt based on Mining Cost of $100/ton, Process Cost of $106/ton, recovery of 92%, and a gold price of $1600/t. oz. 3) LONE TREE: Mineral Resources were calculated at a gold price of US$1650/oz, cut-off grade of 0.1 g/t Au and are based on the mineral resource technical report issued by i-80 on October 21, 2021. Mr. Abani Samal, Ph.D., CPG, RM- SME, Fellow-SEG a GeoGlobal, LLC Principal is the Qualified Person responsible for the Mineral Resource estimate. 4) RUBY HILL: Mineral Resources were calculated at a gold price of US$1650/oz, cut-off grade 0.1 g/t Au. and are based on the mineral resource technical report issued by i-80 on October 22, 2021. Mr. Christopher Wright, P. Geo, a Wood Canada Ltd. employee, is the Qualified Person responsible for the Mineral Resource estimate. 5) Figures are rounded and may show apparent errors in subtotals. 6) Mineral resources are not mineral reserves and do not demonstrate economic viability.

(i)	$50 million convertible loan (the " Orion Convertible Loan ") with OMF Fund III (F) Ltd . an affiliate of Orion Mine Finance (collectively " Orion ")
(ii)	$10 million convertible loan (the " Sprott Convertible Loan " and together with the Orion Convertible Loan, the "Convertible Loans") with a fund managed by Sprott Asset Management USA, Inc. and a fund managed by CNL Strategic Asset Management, LLC
(iii)	$45 million gold prepay purchase and sale agreement entered into with affiliates of Orion (the " Gold Prepay Agreement "), including an accordion feature potentially to access up to an additional $50 million at i-80's option
(iv)	$30 million silver purchase and sale agreement entered into with affiliates of Orion (the " Silver Purchase Agreement "), including an accordion feature to potentially access an additional $50 million at i-80's option
(v)	an amended and restated offtake agreement entered into with affiliates of Orion (the " A&R Offtake Agreement ")

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