Q1 2024 i-80 Gold Corp Earnings Call and Investor Day

May 14, 2024

Ewan Stewart Downie: Hello and thank you for for all the people here who are attending in person. It's great to see some familiar faces who've been here for quite a while and some people I've worked with for a long long part of my career. I know last year I I said a thank you to a lot of the people that have been important to me in my now 26 years of doing this and and you know I'd have to say that this the 26th year of every year standing at the podium as the CEO of a company was definitely the most challenging I think I've seen in in in those 26 years despite the strong strong performance of metals the trans translation of that into the equity markets I think we've yet to see.

Hello, and thank you for all the people here, who are attending in person, it's great to see some familiar faces who've been here for quite a while and.

Speaker Change: The people I've worked with for a long long part of my career.

Speaker Change: I know last year I.

Speaker Change: Thank you to a lot of the people that have been important to me in my now.

Speaker Change: Now 26 years of doing that and.

Speaker Change: You know I'd have to say that this 26 year of every year standing at the podium mess. If you will the company was definitely the most challenging I think I've seen and in those 26 years. Despite the strong strong performance in metals the trans the translation of that.

Speaker Change: And to the equity markets I think we've yet to see now I say that yet to see because I do think there will be a significant catch up.

Ewan Stewart Downie: Now I say that yet to see because I do think there there will be a significant catch-up and the companies who have put themselves in a good position to perform will perform very strongly this year and with the support of several banks and a lot of our shareholders some long-term shareholders we were able to be one of the few companies in recent months who have been able to complete a large-scale financing and in 2023 we were consistently slowing down the progress of our projects just because of the inability to raise capital so with this completion of the financing I'm pretty happy to say that we're looking forward to a very strong 2024 and we are accelerating the advancement of our project. Our next important piece of business, I wanted to welcome Cassandra Joseph to the board of our company, a new addition and very strong... Credibility and experience in our industry that I think will be important to our company. So welcome and look forward to working with you.

Ewan Downie: Now, I say that yet to see because I do think there will be a significant catch-up and the companies who have put themselves in a good position to perform will perform very strongly this year. With the support of several banks and a lot of our shareholders, some long-term shareholders, we were able to be one of the few companies in recent months who have been able to complete a large-scale financing. In 2023, we were consistently slowing down the progress of our projects just because of the inability to raise capital. With this completion of the financing, I'm pretty happy to say that we're looking forward to a very strong 2024, and we are accelerating the advancement of our projects. Our next important piece of business. I wanted to welcome Cassandra Joseph to our.

Speaker Change: And the companies who have put themselves in a good position to perform will perform very strongly this year and with the support of several banks and a lot of our shareholders. Some long term shareholders. We were able to be one of the few companies in recent months, who have been able to complete a large scale financing and in 'twenty two.

Speaker Change: Three we were consistently slowing down the progress of our projects just because of the inability to raise capital so with the completion of the financing I'm pretty happy to say that we're looking forward to a very strong 2024, and we are accelerating the advancement of our project.

Speaker Change: Next important piece of business I wanted to welcome Cassandra Joseph two or at the board of our company and New addition in a.

Ewan Downie: the board of our company, a new addition and very strong credibility and experience in our industry that I think will be important to our company. Welcome and look forward to working with you. I have our standard disclaimer statement, so I urge everybody to read this. There could be some forward-looking statements made in my presentation. As most people know, i-80 Gold is a Nevada-only company. We've been fortunate, I think, to assemble one of the largest resource bases that you'll find in any US-based company, with significant gold and silver resources in our portfolio and multiple polymetallic deposits that we've been delineating over the past 24 months.

Very strong.

Cassandra Joseph: Credibility and experience in our industry that I think will be important to our company. So welcome and look forward to working with you.

Ewan Stewart Downie: I have our standard disclaimer statement, so I urge everybody to read this. There could be some forward-looking statements made in my presentation. So, as most people know, I-80 Gold is a Nevada-only company. We've been fortunate, I think, to assemble one of the largest resource bases that you'll find in any U.S.-based company, with significant gold and silver resources in our portfolio and multiple polymetallic deposits that we've been delineating over the past 24 months.

Speaker Change: And our standard disclaimer statement, so I urge everybody to read this there could be some forward looking statements made in my presentation.

Speaker Change: So as most people know Ied Goldman is in Nevada, only company, we've been fortunate I think to assemble one of the largest.

Speaker Change: Resource basis that you'll find in the any U S based company.

Ied Goldman: With significant gold and silver resources in our portfolio and multi multiple poly metallic deposits that we have been delineating over the past 24 months.

Ewan Stewart Downie: Nevada remains currently the number one mining jurisdiction and we found it to be a tremendous place to work as we advance our projects and very fortunate to have assembled a very high-quality team, some of our team who are here today who have a vast, strong, long-term history of exploring, developing, and mining in the state. We're one of only two companies in the state of Nevada with an autoclave facility that for the long-term development of our company I believe gives us a true competitive advantage to grow because for the most part most projects in Nevada twenty years ago were oxide projects and as they go to depth typically transition to sulfide or refractory and the inability to process refractory mineralization in Nevada to me is a barrier to entry into the state.

Ewan Downie: Nevada remains currently the number one mining jurisdiction, and we found it to be a tremendous place to work as we advance our projects, and very fortunate to have assembled a very high-quality team. Some of our team who are here today have a vast, strong long-term history of exploring, developing, and mining in the state. We're one of only two companies in the state of Nevada with an autoclave facility that for the long-term development of our company, I believe gives us a true competitive advantage to grow. Because for the most part, most projects in Nevada 20 years ago were oxide projects, and as they go to depth, typically transition to sulfide or refractory. The inability to process refractory mineralization in Nevada, to me, is a barrier to entry into the state.

Ied Goldman: Nevada remain currently the number one mining jurisdiction.

Ied Goldman: We found it to be a tremendous place to work as we advance our projects and very fortunate to have assembled.

Speaker Change: A very high quality team some of our team who are here today, who have a vast a strong long term history.

Speaker Change: Exploring developing in mining in the state.

We're one of only two companies in the state of Nevada, with an autoclave facility that for the long term development of our company I believe it gives us a true competitive advantage to grow because for the most part most of our projects in Nevada, 20 years ago, where oxide projects and as they go into depth typically transitioned to self.

Speaker Change: The refractory and the inability to process refractory mineralization in Nevada to me is a barrier to entry into the state. So this is a key acquisition for our company and the startup is key to our achieving our goal to be come one of the largest producers in this in the United States.

Ewan Stewart Downie: So this is a key acquisition for our company, and the startup is key to achieving our goal to become one of the largest producers in the United States. As everybody knows, I'm an explorer at heart, so I enjoy the exploration that we do.

Ewan Downie: This is a key acquisition for our company, and the startup is key to our achieving our goal to become one of the largest producers in the United States. As everybody knows, I'm an explorer at heart, so I enjoy the exploration that we do. The thing I like about our project portfolio is that these are very high quality, high grade assets, but every single one is open for expansion. We have yet to cut off one of our primary deposits, and I look forward to our resources continuing to grow as we go forward. Importantly, these are all brownfield sites. We have these images here.

Speaker Change: As everybody knows I'm, a I'm going to explore at heart. So I enjoy the exploration that we do and the thing I like about our project portfolio is that these are very high quality high grade asset, but every single one is open for expansion we have it we have yet to cut off.

Ewan Stewart Downie: And the thing I like about our project portfolio is that these are very high-quality, high-grade assets, but every single one is open for expansion. We have yet to cut off one of our primary deposits, and I look forward to our resources continuing to grow as we go forward. Importantly, these are all brownfield sites, so we have these images here.

Speaker Change: One of our primary deposits and I look forward to our resources to continuing to grow and as we go forward. Importantly, these are all brownfield sites. So we have these images here. So you can see there is that.

Ewan Stewart Downie: So you can see there are a lot of companies working in the Rocky Mountains or on remote sites, and when you look at the future of that company, how many years it's going to take. I use Greenstone, the Greenstone mine that's just being commissioned in Geraldton, as an asset that Premier drove forward. As an example, we acquired the project in 2008, and it's just going into production, so 16 years from first drill hole to permit to build a mine. So it's not an easy business that we're in. It's capital-intensive, and it's time-intensive.

Ewan Downie: You can see there's, you know, a lot of companies working in the Rocky Mountains or remote sites, and when you look at the future of that company, how many years it's going to take. I use Greenstone, the Greenstone Mine that's just being commissioned in Geraldton as an asset that Premier drove forward. As an example, we acquired the project in 2008, and it's just going into production. 16 years from first drill hole to permit to build a mine. It's not an easy business that we're in. It's capital intensive, and it's time intensive. The portfolio that we've assembled, as you see here, we have two existing processing facilities. Trying to process a mill in a tailings pond is not what we're trying to do right now.

Lot of companies working in the Rocky mountains or remote sites and when you look at the future of that company. How many years, it's going to take I use greenstone. The greenstone mind, that's just being commissioned and in <unk>.

Geraldton: And Geraldton.

Geraldton: An asset that Premier drove forward as an example, we acquired the project in 2008, and it's just going into production of 16 years from first drill hole to permit to build the mine. So it's not it's not an easy business that we're in it's capital intensive and it's time intensive and the portfolio.

Ewan Stewart Downie: And the portfolio that we've assembled, as you see here, we have two existing processing facilities. So trying to process a mill in a tailings pond is not what we're trying to do right now. It's making modifications to existing permits so that we can achieve our goals and getting three projects ready for development over the next several years. Before, or leading up to 2024, we have made several significant milestones despite working on a balance sheet that was less than we wanted.

Premier: Earlier that we've assembled as you see here, we have two existing processing facility. So trying to process a mill and a tailings pond is not.

Premier: What we're trying to do right now is making modifications to existing permits so that we can achieve our goals.

Ewan Downie: It's making modifications to existing permits so that we can achieve our goals and getting 3 projects ready for development over the next several years. In 2024 or leading up to 2024, we have made several significant milestones despite working on a balance sheet that was less than we wanted. Recently, we raised sufficient funds to advance our company strategy to become the second-largest gold and polymetallic producer in the state of Nevada. In fact, we are aiming to become the largest pure play gold producer in the United States. We have more than 45,000m of drilling planned this year, whereas last year we're backing off all year. This year we're accelerating what we're due. This is designed mainly to increase the quality of our mineral resource base.

Speaker Change: And getting three projects ready for development over the next several years.

In 2020.

Speaker Change: For our leading up to 2024, we have made several significant milestones despite working on a balance sheet that was less than we wanted.

Ewan Stewart Downie: Recently, we raised sufficient funds to advance our company's strategy to become the second largest gold and polymetallic producer in the state of Nevada. In fact, we are aiming to become the largest pure-play gold producer in the United States. We have more than 45,000 meters of drilling planned this year, whereas last year we were backing off all year. This year, we're accelerating what we're doing. And this is designed mainly to increase the quality of our mineral resource base.

Speaker Change: Recently, we raised sufficient funds to advance our company strategy to become the second largest gold and poly metallic producer.

Speaker Change: In the state of Nevada. In fact, we are aiming to become the largest pure play gold producer in the United States.

Speaker Change: We have more than 45000 meters of drilling plan. This year, whereas last year were backing off all year. This year and we're accelerating what we do and this is designed mainly to increase the quality of our mineral resource base. We have in all categories 14, 5 million ounces of gold, but a lot of that is in <unk> and one of the big challenges for companies is the <unk>.

Ewan Stewart Downie: We have 14.5 million ounces of gold in all categories, but a lot of that's inferred. And one of the big challenges for companies is the capital required to convert inferred resources to indicated or measured and indicated, which requires a lot of drilling. You can drill at 100-meter spacings; they have this nice resource, but in order to move it through to a development scenario, you have to tighten that up and then do your engineering studies in order for that to happen.

Ewan Downie: We have in all categories 14.5 million ounces of gold, but a lot of that's inferred. One of the big challenges for companies is the capital required to convert inferred resources to indicated or measured and indicated, which requires a lot of drilling. You can drill at 100-meter spacings to get this nice resource, but in order to move it through to a development scenario, you have to tighten that up and then do your engineering studies in order for that to happen. We're in a good position to do that, and we did say we want to deliver our first feasibility study in 2023. We weren't able to achieve that because of, as I said, difficulties in financing the programs required.

Speaker Change: Capital required to convert inferred resources to indicated are measured and indicated which is.

Speaker Change: Requires a lot of drilling you can drill at 100 meter spacings. They got this nice resource by in order to move it through to a development scenario you have to tighten that up and then do your engineering studies in order for that to happen. So we're in a good position to do that and we did say we wanted to deliver our first feasibility study in 2023.

Ewan Stewart Downie: So we're in a good position to do that, and we did say we wanted to deliver our first feasibility study in 2023. But we weren't able to achieve that because, as I said, difficulties in financing the programs required.

Speaker Change: We weren't able to achieve that because of as I said difficulties in financing the program's required but we have now embarked on a pretty major drill campaign at the granite Creek property for it to move into measured and indicated resource and become our first true feasibility study and on the back of that we expect the first operation that we do.

Ewan Stewart Downie: But we have now embarked on a pretty major drill campaign at the Granite Creek property for it to move into measured indicated resource and become our first true feasibility study. And on the back of that, we expect the first operation that we will declare commercial production. We continue to advance. We announced earlier a non-binding term sheet for a joint venture on one of our properties. A lot of people asked questions about that event. For us, as a company, you always want 100%. You never really want a partner.

Ewan Downie: We have now embarked on a pretty major drill campaign at the Granite Creek property for it to move into measured indicated resource and become our first true feasibility study. On the back of that, we expect the first operation that we declare commercial production on. We continue to advance. We announced earlier a non-binding term sheet for a joint venture on one of our properties. A lot of people ask questions about that event. For us as a company, you always want 100%. You never want, really want a partner. When you're trying to do what this company's trying to achieve with multiple operations, we felt that it could be prudent to get some help advancing these projects. Utilizing other companies. We continue to advance this joint venture. Joint ventures are complicated.

Speaker Change: Declare commercial production.

Speaker Change: And we continue to advance we announced earlier non binding term sheet for a joint venture in one of our properties.

Speaker Change: A lot of people ask questions about that event for us as a company you always 100% you never want really want a partner but.

Ewan Stewart Downie: But when you're trying to do what this company is trying to achieve with multiple operations, we felt it could be prudent to get some help advancing these projects, utilizing other companies. And we continue to advance this joint venture. Joint ventures are complicated. If you recall what happened to us in our joint venture at Greenstone with Sentara, we're cognizant that structuring a JV properly and ensuring you have the right rights to advance the project is pretty key. So we continue to do that. It's not an easy process and does take time.

SaaS: When you are trying to do what this company is trying to achieve with multiple operations, we felt that it could be prudent to get some help advancing these projects. So utilizing other other companies and we continue to advance the SaaS This joint venture.

Speaker Change: Joining ventures, a complicated if you recall what happened to us in our joint venture at greenstone with Sentara, we're cognizant that structuring JV properly and ensuring you have the right rates to advance. The project is is pretty key. So we continue to do that it's not an easy process and does take time.

Ewan Downie: If you recall what happened to us in our joint venture at Greenstone with Centerra. We're cognizant that structuring a JV properly and ensuring you have the right rights to advance the project is pretty key. We continue to do that. It's not an easy process and does take time. We have a large, very high grade resource base. Two of our projects that we're advancing currently for development are plus 10 grams. 10-gram deposits aren't the norm when it comes to underground operations. They're actually very rare. The grade of mines around the world every year declines. When you look at the gold grade, average gold grade being produced worldwide, every year it goes down. We're chasing lower and lower grade deposits.

Ewan Stewart Downie: We have a large, very high-grade resource base. Two of our projects that we're advancing currently for development are plus 10 grams. And 10-gram deposits aren't the norm when it comes to underground operations. They're actually very rare.

Speaker Change: We have a large very high grade resource space.

Speaker Change: Two of our projects that we're advancing currently for development are plus 10 grams.

Speaker Change: And Graham deposits aren't the norm when it comes to underground operations are actually very rare and the grade of mines around the world every year declines when you look at thanks.

Ewan Stewart Downie: And the grade of mines around the world declines every year. When you look at the gold grade, the average gold grade being produced worldwide, every year, it goes down. So we're chasing lower and lower-grade deposits. 23, 2350 helps in those developments, but there aren't a lot of projects that really survive the tough times, and really the minds that survive best in difficult gold conditions because we are going to see ups and downs. This is not a straight-up business. It's not like the S&P 500.

Speaker Change: The gold grade average gold grade being produced worldwide every year. It goes down so we're chasing lower and lower grade deposits the price of gold it.

Ewan Downie: The price of gold at $2,300, $2,350 helps in those developments, but there aren't a lot of projects that really survive the tough times and really the mines that survive best in difficult gold conditions. Because we are gonna see ups and downs. This is not a straight up business. It's not like the S&P 500. Metal prices go up and they go down, and the companies have to deal with that. The higher grade assets typically do much better. When you look at our resource base, we stand as one of the largest holders of resources in the state of Nevada, and we expect that to increase. We haven't released any new resources. We've been working on new resource work based on drilling for the Ruby Hill project.

Speaker Change: 23 to $23 50 helps in those development, but there aren't a lot of projects that really survive the tough time and really the mindset.

Speaker Change: Survive best in difficult gold conditions, because we are going to see ups and downs. This is not a straight up business its not like Bath MP 500 men.

Ewan Stewart Downie: Metal prices go up and they go down, and companies have to deal with that, and the higher-grade assets typically do much better. When you look at our resource base, we stand as one of the largest holders of resources in the state of Nevada, and we expect that to increase. We haven't released any new resources.

Speaker Change: Metal prices go up and they go down and the companies.

Speaker Change: <unk> to deal with that and the higher grade assets typically do much better.

Speaker Change: When you look at our resources stand as one of the largest holders of our resources in the state of Nevada, and we expect that to increase we haven't released any new resources, we've been working on new resource work based on drilling for the Ruby Hill project.

Ewan Stewart Downie: We've been working on new resource work based on drilling for the Ruby Hill project. Granite Creek will be the big one for us here in 2024 as we look to significantly increase our M&I resource for a feasibility study, and none of the polymetallic deposits in our portfolio are currently part of our resource. We aren't moving forward with those resources.

Ewan Downie: Granite Creek will be the big one for us here in 2024 as we look to significantly increase our M&I resource for a feasibility study. None of the polymetallic deposits in our portfolio are currently part of our resource. We aren't moving forward with those resources. We're not drilling right now. We completed our drill program, and we're just waiting, or assuming once we get the JV completed, we will make a decision as a joint venture as to what we release and how we release resources and when we release those resources. We're working through those items as well. As I mentioned, we do have some of the highest grade development stage projects you'll find across North America.

Speaker Change: <unk> Creek will be the big one for us here in 2024.

Speaker Change: As we look to significantly increase our MNI resource for a feasibility study and none of the poly metallic deposits in our portfolio and we're currently part of our reason why we arent moving forward with those resources, we're not drilling right now we completed our drill program and we're just waiting on one or assuming once we get the JV.

Ewan Stewart Downie: We're not drilling right now. We've completed our drill program, and we're just waiting on once, or assuming, once we get the JV completed, we will make a decision as a joint venture as to what we release, how we release resources, and when we release those resources. So we're working through those items as well.

Joint Venture: <unk>, we will make a decision as a joint venture as to what we release and how we how we release resources and when we release those resources.

Speaker Change: So we're working through those items as well.

Ewan Stewart Downie: As I mentioned, we do have some of the highest-grade development stage projects you'll find across North America. But one thing I think that gets overlooked is that we actually have three open pit projects in our portfolio, and these are significant resource bases.

Speaker Change: As I mentioned, we do have some of the highest grade development stage projects, you'll find across North America.

Ewan Downie: One thing I think that gets overlooked is we actually have three open pit projects in our portfolio, and these are significant resource bases. The largest deposit in our portfolio is at Ruby Hill, and it's a heap leach open pit project that was drilled off by Barrick prior to our acquisition. It's about a 5 million ounce open pit project, which, if you look at it as a comparison project, it's a, in terms of ounces, about the same size as Greenstone. Greenstone is what Premier basically was. The hilltop discovery we made at the Granite Creek project is what I believe to be one of the highest grade new polymetallic discoveries in the world. That discovery was made about 18 months ago now, just over 18. The exploration success we've had at these projects has been phenomenal.

Speaker Change: But one thing I think that gets overlooked because we actually have three open pit projects in our portfolio and these are significant resource base is the largest deposit in our portfolio is that Ruby Hill and it is a heap Leach open pit project that was drilled off by Barrick prior to our acquisition.

Ewan Stewart Downie: The largest deposit in our portfolio is at Ruby Hill, and it's a heap leach open pit project that was drilled off by Barrick prior to our acquisition. It's about a five million ounce open pit project, which if you look at it as a comparison project, it's, in terms of ounces, about the same size as Greenstone. Greenstone is what Premier basically was.

Premier: It's about a 5 million ounce open pit project, which if you look at it as a comparison projected in terms of ounces about the same size as greenstone greenstone this what premier basically wise.

Ewan Stewart Downie: The Hilltop discovery we made at the Granite Creek project is what I believe to be one of the highest grade new polymetallic discoveries in the world. And that discovery was made 18 months ago now, just over 18. And the exploration success we've had at these projects has been phenomenal. And the work we've been doing to upgrade resources, if you're following the drill bit, has been demonstrating that our 10 gram grade is holding up really well.

Premier: The hilltop discovery, we made at the Granite Creek project is what I believe to be one of the highest grade new poly metallic discoveries in the world and that discovery was made 18 months ago, just over 18 and the exploration success. We've had at these projects is being been phenomenal.

Ewan Downie: The work we've been doing to upgrading resources, if you're following the drill bit, has been demonstrating that our 10-gram grade is holding up really well. In several instances, we're seeing increased grades. Not gonna dwell on this slide here, slide 7 of the presentation, but one of the things that if you look at the history of i-80, we came from Premier. Premier was Canada, US, Nevada, and Mexico. As you can see with the new company, we're just Nevada. It's nice to see that the Fraser Institute and the peer companies who kind of vote on this, the people in our industry who are responsible for voting to see these type of things done by the Fraser Institute, that Nevada ranks number one in terms of both investment attractiveness and policy perception.

Premier: And the work we've been doing to upgrading resources, if you're following the drill bit has been demonstrating that our 10 Gram grade is holding up really well.

Ewan Stewart Downie: And in several instances, we're seeing increased. I'm not going to dwell on this slide here, slide 7 of the presentation, but one of the things that, if you look at the history of I-80, we came from Premier. Premier was Canada.

Premier: And in several instances, we're seeing increased screen.

IAG: Im not going to dwell on this slide here slide seven of the presentation, but one of the things that if you look at the history of IAG. We came from Korea Premier was Canada.

Ewan Stewart Downie: U.S., Nevada, and Mexico. And as you can see with the new company, we're just Nevada. And it's nice to see that the Fraser Institute and the peer companies who kind of vote on this, the people in our industry who are responsible for voting to see these types of things done by the Fraser Institute, that Nevada ranks number one in terms of both investment attractiveness and policy perception. We're fortunate that even that, that's a good thing to have when it comes to, I want to build a mine. But we, these sites that we have are all road accessible, and they all have grid power.

IAG: U S, Nevada and Mexico.

IAG: And as you can see with the New company, we're just in Nevada, and it's nice to see that the Fraser Institute in the peer companies, who kind of bolt on this that people in our industry who.

IAG: Are responsible for boarding to see these type of things done by the Fraser Institute, Nevada ranks number one in terms of both investment attract invest and policy perception. We're fortunate that even that's a good thing to have when it comes to I wanted to build a mine, but these sites that we have are all rolled accessible.

Ewan Downie: We're fortunate that even that that's a good thing to have when it comes to, "I wanna build a mine." We, these sites that we have are all road accessible. They all have grid power. It's a different situation than you typically find in our industry. Again, as I mentioned at the beginning, Matt Gili, our President and Chief Operating Officer, has done a tremendous job at attracting what we feel is some of the top talent in the state for developing operations. I'd even point out one gentleman, Mark Miller, who's not on this. One of the top permitting people you'll find. The quality...

Speaker Change: They all have grid power, it's a different situation than <unk> been.

Ewan Stewart Downie: It's a different situation than you typically find in our industry. And again, as I mentioned at the beginning, Matt Gili, our President and Chief Operating Officer, has done a tremendous job at attracting what we feel is some of the top talent in the state for developing operations. I'd even point out one gentleman, Mark Miller, who's not on this, one of the top permitting people you'll find.

Speaker Change: You typically find in our industry.

Speaker Change: And again as I mentioned at the beginning.

Speaker Change: Matt Gili, our president and Chief operating Officer has done tremendous job at attracting what we feel is kind of the top talent in the state for developing operation Ivy.

Speaker Change: I would even point out one gentleman Mark Miller who's not on this one of the top permitting people youre fine so the quality not only the quality, but the experience. These people haven't working in the state of Nevada is what I believe is going to be key in this company achieving our goals of becoming a significant producer in the state.

Ewan Stewart Downie: So the quality, not only the quality, but the experience these people have working in the state of Nevada is what I believe is going to be key in this company achieving our goals of becoming a significant producer in the state. We operate entirely in north-central Nevada. I refer to where we work; here on the slide, we've got Nevada; it's a posted stamp within north-central Nevada. And within this area of the Great Basin are what are referred to as the Carlin and Battle Mountain trends and the Getchell trends, and, you know, a lot of arguments about what the real trend of mineralization is in these places.

Ewan Downie: Not only the quality but the experience these people have at working in the state of Nevada is what I believe is gonna be key in this company achieving our goals of becoming a significant producer in the state. We operate entirely in north central Nevada. I refer to where we work here on the slide. We got Nevada. It's a postage stamp within north central Nevada. Within this area of the Great Basin are what are referred to as the Carlin and Battle Mountain Trends and the Getchell Trends. You know, a lot of arguments about what is the real trend of mineralization in these places.

Ewan Stewart Downie: But there are definitely these districts or large structural features through the Great Basin that are significantly endowed in gold. If Nevada Gold Mines, who operate entirely in this picture, were a separate producing company, it would actually be the fourth largest gold producing company in the world on an annual basis. The only companies larger than it would be the two owners, Newmont Barrick and Agnico Eagle.

Mark Miller: We operate entirely in north Central Nevada.

Ewan Stewart Downie: And it took Agnico taking over Yamana to achieve producing more gold than what Barrick and Newmont do in the state of Nevada. And we've been fortunate to assemble a very high-quality portfolio of projects. We actually have six active projects in the state. Not developing all six; we're working on three of them, but we actually have six projects in the state.

Mark Miller: I refer to where we work here on the slide we got Nevada is a postage stamp within north and North Central Nevada and within this area of the Great Basin are what are referred to as the Carlin and Battle Mountain Trans <unk> trends.

Speaker Change: A lot of arguments about when does the real trend of mineralization from these places, but they are definitely these districts are our large structural features through the great basin dinner.

Ewan Downie: There are definitely these districts or large structural features through the Great Basin that are significantly endowed in gold. If Nevada Gold Mines, who operate entirely in this picture, were a separate producing company, it would actually be the fourth-largest gold producing company in the world on an annual basis. The only companies larger than it would be the two owners, Newmont and Barrick, and Agnico Eagle. It took Agnico taking over Yamana to achieve producing more gold than what Barrick and Newmont do in the state of Nevada. We've been fortunate to assemble a very high-quality portfolio of projects. We actually have six active projects in the state. We're not developing all six. We're working on three of them, but we actually have six projects in the state.

Speaker Change: Bidder significantly in doubt in Angola.

Speaker Change: If Nevada gold mines to operate entirely in this picture, where a separate producing company. It would actually be the fourth largest gold producing company in the world on an annual basis, the only companies larger than it would be the two owners newmont and Barrick and Agnico Eagle and it took agnico taken over humana to achieve.

Agnico Eagle: Are you seeing more gold than what <unk>.

Speaker Change: Barrick and newmont due in the in the state of Nevada, and we've been fortunate to assemble a very high quality portfolio of projects, we actually have six active projects in the state not developing all six were working from three of them.

Speaker Change: We actually have six projects in the state we have the processing infrastructure, that's going to be critical to achieving success in the future and importantly.

Ewan Downie: We have the processing infrastructure that's gonna be critical to achieving success in the future. Importantly, we didn't start 3 years ago when I-Eighty came out. We actually started working at buying projects in Nevada about 15 years ago with a project that's called Saddle. The Saddle project in the Rain subdistrict. We acquired an obscure piece of ground in the Carlin Trend. We traded that property essentially to get Cove. What we've done at Cove is delineate what I believe is one of the highest grade undeveloped gold deposits in North America. We took that project from a concept to a resource. We permitted to go underground, which we successfully put in place in 2023 to begin the underground drill campaign in advance of the feasibility study.

Ewan Stewart Downie: We have the processing infrastructure that's going to be critical to achieving success. We didn't start three years ago when I-80 came out. We actually started working at buying projects in Nevada about 15 years ago with a project that's called SADL, the SADL project in the Rain District. So we acquired an obscure piece of ground in the Carlin Trend. We traded that property, essentially, to get coal.

Speaker Change: We didn't start three years ago. When I 80 came out we actually started working at buying projects in Nevada about 15 years ago with that project is called Saddle model project in the rain district, So we acquired an.

Speaker Change: An obscure piece of ground in the Carlin trend, we traded that property essentially to get cold.

Ewan Stewart Downie: And what we've done at coal is delineate what I believe is one of the highest-grade undeveloped gold deposits in North America. And we took that project from a concept to a reality. We permit it to go underground, which we successfully put in place in 2023 to begin the underground drill campaign in advance of feasibility. So Lone Tree is what we believe gives us a long-term competitive advantage in the state. I'd point out that Lone Tree also has a resource.

Kohl: And what we've done at Kohl's is delineate what I believe is one of the highest grade undeveloped gold deposits in North America, and we took that project from <unk>.

Speaker Change: Concept to a resource we permanent to go underground, which we successfully put in place in 2023 to begin the underground drill campaign in advance of a feasibility study.

Ewan Downie: Lone Tree is what we believe gives us a long-term, competitive advantage in the state. I'd point out that Lone Tree also has a resource. That Lone Tree was a significant mine in its day. It was an open pit operation right beside the Interstate 80, hence our name i-80. It's the only refractory processing facility that actually sits on the highway. The other ones, you have to drive up dirt roads to access them. In this image in the center, right under where it says advantage, there's little white things. Those are transport trucks on the highway. It's a very well-located facility. Just across the highway is the Nevada Central Railroad. In the future, if it comes to looking for third-party concentrates, et cetera, it's the primary spot to be used in this state. There's significant upside though.

Kohl's: So lone tree is what we believe gives us a long term <unk>.

Speaker Change: <unk> competitive advantage in the state I would point out that lone tree also has a resource there then poultry visa a significant mine in its day was an open pit operation right beside the.

Ewan Stewart Downie: Lone Tree was a significant mine in its day. It was an open pit operation right beside Interstate 80, hence our name I-80. It's the only refractory processing facility that actually sits on the highway. The other ones you have to drive up dirt roads to access them.

Speaker Change: Interstate 80, hence our name on.

Speaker Change: It's the only refractory processing facility that actually sits on the highway. The other ones you have to drive up dirt roads to access them and in this image in the center right, Andrew where it says advantage Theres little White things those are transport trucks on the highway so where it's very well located facility just across the highways in Nevada central ramp.

Ewan Stewart Downie: And in this image, right under where it says advantage, there's little white things; those are transport trucks on the highway. So it's a very well-located facility just across the highway. It's the Nevada Central Railway. So in the future, if it comes to looking for third-party concentrates, etc., it's the primary spot to be used in the state. There's significant upside, though.

Andrew: So in the future if it comes to looking for a.

Andrew: Third party concentrates et cetera, it's the primary spot to be used in this state theres significant upside, though one thing that we don't talk about the resource we haven't at lone tree, but there is a pit expansion of about 3 million ounces in all categories.

Ewan Downie: One thing that we don't talk about the resource we have at Lone Tree, but there is a pit expansion of about 3 million ounces in all categories. Most of that's in the inferred category. The power line fault structure where this deposit exists has sections of it that have significant high-grade refractory mineralization. These deposits, if it wasn't for the water situation, could be company makers in their own rights. They're tremendous widths, really good grades. The Sequoia fault structure is something that, you know, I've wanted to do more work on. We haven't because we've got other higher priorities. We have the Buffalo Mountain project just to the south, southwest of Lone Tree. Buffalo Mountain, we don't talk about much in our portfolio.

Ewan Stewart Downie: One thing that we don't talk about the resources we have at Lone Tree, but there is a pit expansion of about three million assets in all categories. Most of that's in the inferred category. But the power line fault structure where this deposit exists has sections of it that have significant high-grade refractory mineralization. These deposits could be, if it wasn't for the water situation, could be company makers in their own rights. They're tremendous widths, really good grades.

Speaker Change: That's in the inferred category, but the power lines fault structure, where this deposit exists has.

Speaker Change: Sections of it did.

Speaker Change: Have significant high grade refractory mineralization.

Speaker Change: These deposits could be if it wasn't for the water situation could be company makers in their own rights tremendous words really good grades. The Sequoia fault structure is something that I've wanted to do more work on.

Ewan Stewart Downie: The Sequoia Fault structure is something that I've wanted to do more work on, but we haven't because we've got other higher priorities. And then we have the Buffalo Mountain project just to the southwest of Lone Tree. And Buffalo Mountain, we don't talk about much in our portfolio. It's kind of between us and Marigold, a bit off to the side, but just so you get the picture, the Marigold mine of SSR is immediately south of us.

Speaker Change: We haven't because we've got other higher priorities, but and then we have the Buffalo Mountain project just to the south.

Speaker Change: Southwest of Lone tree, and Buffalo Mountain, we don't talk about much in our portfolio, it's kind of between <unk> and marigold it off to the side, but.

Ewan Downie: It's kind of between us and Marigold, a bit off to the side. Just so you get the picture, the Marigold mine of SSR is immediately south of us. Our last step-out hole or our south-most hole we drilled in the deposit was a 134-meter intercept of 1 gram, which as an exploration guy is, "Wow, we gotta go drilling there." Because, you know, oxide mineralization at a gram is actually really good. A lot of the open pit oxide projects working in Nevada today are half a gram or less as an average grade. When you see those type of grades, it's something you do wanna follow up on. There's a lot of other opportunities in our portfolio that we haven't fully been taking advantage of. Our most advanced project in our portfolio...

Ssrs: So you get the picture of the Marigold mine of Ssrs is immediately south of us.

Ewan Stewart Downie: And our last step-out hole, or the southmost hole we drilled in the deposit, was a 134 meter intercept of a gram, which is an expiration date. Wow, we've got to go drilling there because oxide mineralization at a gram is actually really good. A lot of the open pit oxide projects working in Nevada today are half a gram or less as an average grade. So when you see those type of grades, it's something you do want to follow up on.

Ssrs: And our last step out hole or southmost hole, we drilled in the deposit was 134 meter intercept of a grant which is an exploration guys. How we got to go drilling there because.

Exploration Team: Oxide mineralization at Graham is actually really good.

Speaker Change: A lot of the open pit oxide projects work in Nevada, today or half a gram or less as an average green. So when see those type of grades. It's something you do want to follow up on so there is a lot of other opportunities in our portfolio that we haven't fully been taking advantage of.

Ewan Stewart Downie: So there's a lot of other opportunities in our portfolio that we haven't fully been taking advantage of, our most advanced project in our portfolio, doing that on the screen. Something in the conversion must be a different PowerPoint. So I apologize for how some of the words are over-taught. It's just a conversion, I guess, on different computers.

Speaker Change: Our most advanced projects in that portfolio.

Ewan Downie: Doing that on the screen, too. Something in the conversion. It must be a different PowerPoint. Apologize for how the words are overlapped. It's just a conversion, I guess, different computers. Granite Creek is our most advanced project. It was the one where we targeted providing our first feasibility study in late 2023, and we didn't achieve that goal, again, mainly primarily because of difficult financial conditions in the market that limited our ability to complete the drilling that was necessary to get there. As you can see, a lot of our resource is inferred, and we need to upgrade that. We did do an underground drilling campaign. You can see some of the results here, up to 21.9 meters at 31 grams. Extremely high-grade mineralization.

Speaker Change: During the analyst the screen too.

Speaker Change: Something in the conversion must be a different power.

Speaker Change: I apologize for Hollander, where some of the words are over time.

Speaker Change: Just the conversion I guess different computers, but.

Ewan Stewart Downie: Granite Creek is our most advanced project. It was the one where we targeted providing our first feasibility study in late 2023, and we didn't achieve that goal. Again, primarily because of difficult financial conditions in the market that limited our ability to complete the drilling that was necessary to get there. As you can see, a lot of our resource is inferred, and we need to upgrade that. We did do an underground drilling campaign, and you can see some of the results here, up to 21.9 meters at 31 grams.

Hollander: Granite Creek is our most advanced project. It was the one where we targeted for providing our first feasibility study in late 2023, and we didn't achieve that goal again made primarily because of difficult financial.

Speaker Change: Conditions in the market that limited our ability to complete the drilling that was necessarily necessary to get there as you can see a lot of our resources inferred and we need to upgrade that.

Speaker Change: We did do an underground drilling campaign you can see some of the results here up to $21 nine meters at 31 grams extremely high grade mineralization.

Ewan Stewart Downie: Extremely high-grade mineralization. It sits immediately on strike from the Turquoise Ridge Offering. Turquoise Ridge, as you can see just to the north, is one of the largest gold deposits ever discovered in the United States, and it is, I believe, the third largest producing complex for Nevada gold in the state. And we discovered a zone called the South Pacific Zone, or have delineated a zone called the South Pacific Zone, just north of where the historic work was done that is really, we believe, the future of this operation.

Ewan Downie: It sits immediately on strike from the Turquoise Ridge operation. Turquoise Ridge, as you can see just to the north, is one of the largest gold deposits ever discovered in the United States, and it is, I believe, the third-largest producing complex for Nevada Gold Mines in the state. We have delineated a zone called the South Pacific Zone just north of where the historic work was done that is really, we believe, the future of this operation. That's where the drill campaign will just start ramping up with 4 drill rigs here that will be going basically for the balance of this year to not only infill and increase our M&I resource measure and indicate it, but also look at stepping out.

Speaker Change: It sits immediately on strike from the Turquoise Ridge operation Turquoise Ridge as you can see just in the North is one of the largest gold deposits ever discovered in United States and it is I believe the third largest producing complex for Nevada gold mines in the state.

Speaker Change: And.

Speaker Change: We discovered <unk> zone called the South Pacific Zone, or have delineated zone called the South Pacific just north of where the historic work was done there is really we believe the future of this operation and Thats, where the drill campaign. We're just started ramping up with four drill rigs here.

Ewan Stewart Downie: And that's where the drill campaign, we're just starting ramping up with four drill rigs here that will be going basically for the balance of this year to not only infill and increase our M&I resource, measured and indicated, but also look at stepping out. The deposit is completely open at depth and along strike.

Speaker Change: It will be going basically for the balance of this year to not only infill and increase our M&A resources measured and indicated but also look at and stepping out the deposit is completely open at depth and along strike our northernmost hole we drilled in 2022.

Ewan Downie: The deposit is completely open at depth and along strike. Our northernmost hole we drilled in 2022, which is still our northernmost hole, was 15.7 gram intercept over 6.6 meters. Our deepest intercepts, which were drilled early in 2023, were up to 15.5 grams over 19.7 meters. This is world-class grades in a world-class mining camp. This year we look to expand on that given our improved financial position. To put it in perspective, this project is the first that we're looking to move or transition from exploration to development to what we hope to be a full production decision on the back of a full feasibility.

Speaker Change: It is still our northern most home was $15 seven gram intercept over six six meters, our deepest intercepts, which were drilled early in 2023, we're up to 15 five grams over $19 seven meters. This is world class grades and a world class mining camps and this year, we look to expand on that.

Ewan Stewart Downie: Our northernmost hole drilled in 2022, which is still our northernmost hole, was 15.7 grams of intercept over 6.6 metres. Our deepest intercepts, which were drilled early in 2023, were up to 15.5 grams over 19.7 metres. This is world-class grade in a world-class mining camp.

Ewan Stewart Downie: And this year, we look to expand on that, given our improved financial position. But to put it in perspective, this project is the first that we're looking to move or transition from exploration to development to what we hope to be a full production decision on the back of a full feasibility. And if you look at the preliminary models that we're doing on that mine plan as we advance the feasibility work, the one you see on the left on this slide here, slide 13, is what the mine plan would have looked like in the feasibility study in 2023. If you jump forward, and we only did a limited program in 2024, you can see the difference in scale, especially when it comes to adding the South Pacific zone.

Speaker Change: Our improved financial position.

Speaker Change: But to put it into.

Speaker Change: Perspective. This project is the first that we're looking to move our transition from exploration to development to what we hope to be a full.

Speaker Change: Production decision on the back of a full feasibility.

Ewan Downie: If you look at our preliminary models that we're doing on that mine plan as we advance the feasibility work, the one you see on the left on this slide here, slide 13, is what the mine plan would have looked like in the feasibility study in 2023. If you jump forward, we only did a limited program in 2024. You can see the difference in scale, especially when it comes to adding the South Pacific Zone. This year, we hope to make that footprint even larger and complete all of the engineering required to really support a 43-101 compliant resource. We're targeting about a 3 times increase or expansion of the M&I resources here with the current drill program. Cove is, I guess, near and dear to my heart.

Speaker Change: And if you look at our preliminary models that we're doing on that mine plan as we advance the feasibility work.

Speaker Change: You see on the left on this slide here Slide 13 is what the mine plan would have looked like in the feasibility study in 2023, if you jump forward, we and we only did a limited program in 2024, you can see the difference in scale, especially as when it comes to adding the South Pacific Zone, and this year, we hope to make that.

Ewan Stewart Downie: And this year, we hope to make that footprint even larger and complete all of the engineering required to really support a 101 compliant resource. We're targeting about a three times increase or expansion of the M&I resources here with the current drill program. Cove is, I guess, near and dear to my heart.

Speaker Change: Footprint, even larger and complete all of the engineering required to release a 43 one.

Speaker Change: 101 compliant resource.

Speaker Change: We're targeting about a three times increase or expansion of the M&A resources here with the current drill program.

Ewan Stewart Downie: We've had it for 12, 13 years. We've been working on this project. We put our first holes in, and had some great exploration success. Steve was involved in that, sitting at the back.

Speaker Change: Cove is I guess nearing geared by hardwood we've had it for.

Ewan Downie: We've had it for 12, 13 years we've been working this project. Put our first holes in, had some great exploration success. Steve was involved in that, sitting in the back. We turned it into what is now almost 1.7 million ounces of gold in all categories at nearly 11 grams. Truly, one of the higher grade advanced stage gold projects in all of North America. We did put in the underground phase one underground infrastructure that you can see in the image in the middle. A few of us, including my wife, were standing there in the initial blast when we were opening up that portal and it was nice to see a project after I think 13 years ago from the first drill holes to where it is today.

Speaker Change: 12, 13 years, we've been working this project.

Speaker Change: And our first homes and had some great exploration success Steve.

Speaker Change: Steve.

Steve: <unk> was involved in that and in the back.

Ewan Stewart Downie: We turned it into what is now almost 1.7 million ounces of gold in all categories at nearly 11 grand. Truly one of the higher-grade, advanced-stage gold projects in all of North America. We did put in the phase one underground infrastructure that you can see in the image in the middle. A few of us, including my wife, were standing there during the initial blast when we were opening up that portal, and it was nice to see a project after, I think, 13 years go from the first drill holes to where it is today. We have two drill rigs now defining that deposit to move forward with the full feasibility study. Our goal is to release that feasibility study in 2025.

Steve: We turned it into what is now.

Steve: Almost one 7 million ounces of gold and all categories at nearly 11 Gram.

Steve: Truly one of the higher grade advanced stage gold projects in all of North America.

Steve: We did put in the underground.

Speaker Change: As one underground infrastructure that you can see in the image in the middle.

my wife: A few of US, including my my wife were stand there and the initial blast when we're opening up that.

Speaker Change: Portal in and it was nice to see a projected after thanks.

Speaker Change: 13 years go from the first drill holes to where it is today and we have two drill rigs now defining that deposit to move forward with a full feasibility. Our goal is to release that feasibility study in 2025. So we are now moving forward with the plan to elevate our pro.

Ewan Downie: We have two drill rigs now defining that deposit to move forward with the full feasibility. Our goal is to release that feasibility study in 2025. We are now moving forward with the plan to elevate our projects on an expedited basis based on our improved balance sheet. The advanced stage project, drilling we've done, this is an image you see the primary image on this site. The green is what's being completed. The white are the holes that we're going to be drilling over the balance of this year and probably into 2025 as we complete the full definition of this deposit. In addition to the known deposits, there's significant exploration upside. We've made new discoveries.

Ewan Stewart Downie: We are now moving forward with the plan to elevate our projects on an expedited basis based on our improved balance. The advanced stage project drilling we've done, this is an image you see, the primary image on this site. The green is what's being completed, and the white are the holes that we're going to be drilling over the balance of this year and probably into 2025 as we complete the full definition of this deposit.

Speaker Change: <unk> on an expedited basis based on our improved balance sheet.

Speaker Change: The advanced stage project drilling we've done this is an image you see the primary image on this site. The green is what's been completed the wide are the holes that were going to be drilling over the balance of this year and probably into 2025 as we complete the full definition of this deposit.

Ewan Stewart Downie: But in addition to the known deposits, there's significant exploration upside. We've made new discoveries. We have a polymetallic discovery that we did when Barak was working with us here that graded 5.1 grams of gold, 410 grams of silver, and nearly 11% lead zinc that has yet to be followed up. So there's a lot of upside in this project. It's not just that it's a 1.7 million ounce deposit, and that's it. And that deposit is open.

Speaker Change: But in addition to the known deposits Theres significant exploration upside we've made new discoveries we have a poly metallic discovery that we did when Barrick was working with US here at graded five Gram five one grams gold 410 grams, silver and nearly 11% led zinc that has yet to be followed out so theres.

Ewan Downie: We have a polymetallic discovery that we did when Barrick was working with us here that graded 5.1 grams gold, 410 grams silver, and nearly 11% lead zinc that has yet to be followed up. There's a lot of upside in this project. It's not just a 1.7 million ounce deposit and that's it. That deposit is open. You can see our last step-out holes in the image where it says open are significant high-grade mineralization. The upside here is substantial, and we do intend to do some step-out drilling from underground once we get to the tail end of the definition of this project. Our flagship asset is Ruby Hill, though, mainly because it is our largest resource and it has such optionality for the company.

Barrick: A lot of upside in this project is not just its a $1 7 million ounce deposit and that fit and that deposit is open so.

Ewan Stewart Downie: So you can see our last step-out holes in the image where it says open are significant high-grade mineralization. So the upside here is substantial, and we do intend to do some step-out drilling from underground once we get to the tail end of the definition of this project. Our flagship asset is Ruby Hildo, mainly because it is our largest resource and it has such optionality for the company.

Barrick: You can see our last step out holes in the image, where it says open are significant high grade mineralization. So the upside here is substantial and we do intend to do some step out drilling from underground once we get to the tail end of the definition of this project.

Speaker Change: Our flagship asset is Ruby Hill mill, mainly because it is our largest resource and it has such optionality for the company. The project is host to oxide gold mineralization as I said earlier one of the.

Ewan Stewart Downie: The project is host to oxide gold mineralization. As I said earlier, one of the largest deposits is in red here. It's the Mineral Point Project. It's a silver gold oxide deposit that was drilled off by Barrick but wasn't constructed. And in terms of scale, it would be fairly similar to the scale of what Greenstone is.

Ewan Downie: The project is host to oxide gold mineralization. As I said earlier, one of the largest deposit is in red here. It's the Mineral Point project. It's a silver gold oxide deposit that was drilled off by Barrick but wasn't constructed. In terms of scale, it would be fairly similar to the scale of what Greenstone is. We also have the Ruby Deeps deposit. Ruby Deeps is a refractory gold deposit that sits underneath the Archimedes pit. Also underneath the Archimedes pit is Blackjack. That's a skarn zinc deposit. Just south of that is Hilltop, and further south, Fad, which are CRD polymetallic deposits. It's a really remarkable project in the fact that there's all of these styles of mineralization it's essentially sitting right on top of each other.

Speaker Change: The largest deposit is in red here, it's the mineral point projected to silver gold oxide deposit that was drilled off by Barrick, but wasn't constructed and in terms of scale. It would be fairly similar to the scale of what greenstone, yes.

Ewan Stewart Downie: We also have the Ruby Deeps deposit. Ruby Deeps is a refractory gold deposit that sits underneath the Archimedes pit. Also, underneath the Archimedes pit is Blackjack.

Barrick: We also have the Ruby deeps deposit Ruby deeps as refractory gold deposit that sits underneath the <unk> pit.

Ewan Stewart Downie: That's a Skarn zinc deposit. Just south of that is Hilltop, and further south is Thad, which are CRD polymetallic deposits. So it's a really remarkable project in the fact that there are all of these styles of mineralization essentially sitting right on top of each other. We believe that somewhere in this area is a large porphyry center that is the heat engine or feeds the mineralization here. And if we're lucky, we'll do some extra exploration this year, and maybe we'll be successful at delineating where that porphyry source is. Right now, we have lead, zinc, silver, gold, and we're starting to get a little bit of copper at the end of our mineralization.

Barrick: Also underneath the Archimedes pad is blackjack, that's a scarring zinc deposit just south of that as hilltop and further south Fad, which are CRD poly metallic deposit.

Speaker Change: So it's a really remarkable projects in the fact that there's all of these styles of mineralization is essentially sitting right on top of each other.

Ewan Downie: We believe that somewhere in this area is a large porphyry center that is the heat engine or feeds the mineralization here. If we're lucky, we'll do some extra exploration this year. Maybe we'll be successful at de-delineating where that porphyry source is because right now we have lead, zinc, silver, gold, and we're starting to get a little bit of copper at the end of our mineralization. Adding copper to this project would just add another opportunity here. We will be doing a step-out drilling and expansion of the area that we believe some of this mineralization exists. The longer-term plan, though, is to develop Ruby Hill as our third operation in Nevada. Actually, we expect it to be our second operation in Nevada.

Barrick: And.

Speaker Change: We believe that somewhere in this area is a large porphyry center that is the heat engineer feeds the mineralization here and.

Speaker Change: If we're lucky we'll get do some extra exploration this year and maybe will will be successful had been delineating where that pour free sources because.

Speaker Change: Right now we have lead zinc silver gold and are we starting to get a little bit of copper at the end of our mineralization. So adding conference and this project will just add another opportunity here and and.

Ewan Stewart Downie: So adding copper to this project would just add another opportunity here, and we will be doing step-out drilling and expanding the area that we believe some of this mineralization exists. The longer-term plan, though, is being developed. Ruby Hill is our third, actually, we expect it to be our second operation in Nevada. The infrastructure, almost identical to what we have at Cove, in the lower image you see here on slide 17, is to put the portals in the pit.

Speaker Change: And we will be we will be doing a step out drilling and expansion of the area that we believe some of this mineralization exists.

Ruby Hill: The longer term plan, though is developed Ruby Hill is our third actually we expect it to be our second operation in Nevada.

Ewan Downie: The infrastructure, almost identical to what we have at Cove in the lower image you see here on slide 17, is to put the portals in the pit. It reduces how much spiraling down you have to do or ramping down you have to do to depth. It reduces your cost of building an operation. You're closer to the deposit. But when you look at this, the larger image here, it has Blackjack and Ruby Deeps. This is a refractory gold deposit sitting right beside a skarn zinc deposit. This development will allow access to base metals and gold.

Ruby Hill: The infrastructure almost identical to what we have at Kohl's in the lower image you see here on slide 17 is to put the portals in the pit it reduces how much spy.

Ewan Stewart Downie: It reduces how much spiraling down you have to do, or ramping down you have to do to depth. So it reduces your cost of building an operation, and you're closer to the deposit. But when you look at the larger image here, it has blackjack and ruby deeps.

Speaker Change: Spiraling down you have to do or are ramping down you have to do to depth. So it reduces your cost of building an operation you're closer to the deposit.

Ewan Stewart Downie: This is a refractory gold deposit sitting right beside a scarred zinc deposit. This development will allow access to base metals and gold, and that was the reason we had a significant amount of interest in this project and have chosen that perhaps one of the best paths forward here is to work with a partner to develop the project who is mostly interested in base metals, where we continue to be, well, I guess we're interested in both, but gold is an important part of our business. The deposits are completely open to expansion.

Speaker Change #100: But when you look at this the the larger image here. It has blackjack and Ruby deep. This is a refractory gold deposits sitting right beside <unk> zinc deposit so.

Speaker Change: This development will allow access to base metals and gold and that was the reason we had significant amount of interest in this project and have chosen that perhaps one of the best path forward here is to work with a partner to develop the project who is mostly interested in the base metals, where we continue to be.

Ewan Downie: That was the reason we had significant amount of interest in this project and have chosen that perhaps one of the best paths forward here is to work with a partner to develop the project who is mostly interested in the base metals, where we continue to be, well, I guess we're interested in both, but gold is an important part of our business. The deposits are completely open for expansion. The southernmost hole we drilled in the East Hilltop discovery, that discovery was made less than 12 months ago, was a 114-meter intercept of 9.5% zinc. Contained within that was 13.6 meters of 17.7% zinc, 0.4% copper and 10 grams gold.

Speaker Change #103: Well I guess, we're interested bolt.

Speaker Change #101: Gold is an important part of our business. The deposits are completely open for expansion. The southmost hole, we drilled in the east hilltop discovery that discoveries made less than 12 months ago was 114 meter intercept of nine 5% zinc contained within that was $13 six meters of $17 seven zinc.

Ewan Stewart Downie: The southmost hole we drilled in the east hilltop discovery, that discovery was made less than 12 months ago, was a 114 meter intercept of 9.5% zinc. Contained within that was 13.6 meters of 17.7% zinc, 0.4 copper, and 10 grams of gold. This is the area where we're tending to see a potential transition of zinc scarn to copper scarn, and that is something that definitely warrants additional work in the ensuing year. But we're also advancing this project for our long-term development plan of starting up the three operations.

Speaker Change #102: For copper and 10 grams gold. This is the area, where we're tending to see.

Ewan Downie: This is the area where we're tending to see a potential transition of zinc skarn to copper skarn, and that is something that definitely warrants additional work on in the ensuing year. But we're also advancing this project for our long-term development plan of starting up the three operations. The slide you see here on slide 18 is the work we're doing. A lot of this is internal, but we do have a consulting group we work with on a lot of our planning at what the gold operation looks like. These are some of the preliminary mine designs for Ruby Deep's coming out of the pit and accessing multiple high-grade zones. We've also completed on the base metal; we've done significant work on the metallurgy.

Speaker Change #104: Hence a transition of zinc scarring to copper scar and that is something that definitely warrants signet additional work on in the ensuing year.

Speaker Change #105: But we're also advancing this project for a long term development plan of starting up the three operations.

Ewan Stewart Downie: So the slide you see here on slide 18 is the work we're doing. A lot of this is internal, but we do have a consulting group we work with on a lot of our planning for what the gold operation looks like.

consulting group: So slide you see here on slide 18 is the work we're doing a lot of this is internal but we do have a consulting group we worked with on a lot of our our planning at what is the gold operation look like and these are some of the preliminary mine designs for Ruby Deeps.

Ewan Stewart Downie: And these are some of the preliminary mine designs for Ruby Deeps coming out of the pit and accessing multiple high-grade zones. We've completed, also on the base metal, we've done significant work on the metallurgy. We just recently received the final metallurgical results for all of the polymetallic deposits, and we're working out when we are going to publish a resource for the multiple deposits we have there. At Mineral Point, we are planning to do a little bit of work this year, that's the large open pit project, getting a better understanding of silver recoveries as part of a future. I think in our 10-year plan, we anticipate that Mineral Point will be an important part of that, and working through hydrology and long-term permitting of that project.

Speaker Change #106: Coming out of the pit and accessing multiple high grade zones. We've completed also on the base metal we've done significant work on the metallurgy. We just recently received the final metallurgical results for all of the poly metallic deposits and were working at when are we going to publish a resource for the multiple declines.

Ewan Downie: We just recently received the final metallurgical results for all of the polymetallic deposits, and we're working out when are we going to publish a resource for the multiple deposits we have there. At Mineral Point, we are planning to do a little bit of work this year. That's the large open pit project. Getting a better understanding of silver recoveries as part of a future. I think in our ten-year plan, we envision that Mineral Point will be an important part of that and working through hydrology and long-term permitting of that project. The polymetallic zones are one of the reasons we acquired this project. As we are really looking for a refractory gold deposit, which was Ruby Deeps, when we did our due diligence on this project, we ident...

Speaker Change #107: We have been.

Mineral Point: At mineral point, we are planning to a little bit of work. This year. That's the large open pit project.

Mineral Point: Getting a better understanding of silver recoveries as part of our future I think in our 10 year plan, we envision that mineral point will be an important part of that and working through hydrology in long term permitting of that project.

Ewan Stewart Downie: The polymetallic zones are one of the reasons we acquired this project. As we were really looking for a refractory gold deposit, which was Ruby Deeps, when we did our due diligence on this project, Barrick had identified a very high-grade scarred zinc deposit right below the pit, and they didn't develop it. And we felt that because this region is more of a base metal region, if you look at its 150-year history, that that's something that Homestake and Barrick did not pursue. They did very little work if it wasn't just for gold.

Speaker Change #111: The poly metallic zones are one of the reasons we acquired this project.

Mineral Point: As we are really looking for refractory gold deposit, which was Ruby deeps when we did our due diligence on this project. We identified Barrick had identified a very high grade scarring zinc deposit right below the pit and they didn't develop it and we felt that because this region has more.

Ewan Downie: Well, Barrick had identified a very high-grade skarn zinc deposit right below the pit, and they didn't develop it. We felt that because this region is more of a base metal region, if you look at its 150-year history, that that's something that Homestake and Barrick did not pursue. They did very little work if it wasn't just for gold. We've had significant success. In our first grassroots exploration program, in our first hole, we discovered a CRD zone. Our second hole was a step out that discovered another lens that's now what we call the Upper Hilltop zone. We started stepping out, we found East Hilltop, and we discovered what's likely the expansion of Lower Hilltop further to the west in this image. This horizon or this fault structure is brand.

Mineral Point: We have a base metal region. If you look at it as 100 150 year history.

Speaker Change #110: That's something that homestake in Barrick did not pursue they did very little work if it wasn't just for goal.

Ewan Stewart Downie: And we've had significant success. In our first grassroots exploration program, we discovered, in our first hole, a CRD zone. And our second hole was a step out that discovered another lens that's now what we call the upper hilltop zone. And when we started stepping out, we found east hilltop, and we discovered what's likely the extension of lower hilltop further to the west in this image. This horizon, or this vault structure, we brand-newly identified it in mid-2022, so just, I guess, about 20 months ago now, and it is completely open for expansion. Between us and FAD, which is about 2 kilometers to the south, this CRD system under alluvial cover is essentially untested.

Speaker Change #116: And we've had significant success in our first grass roots exploration program, we discovered in our first full we discovered the CRD zone and our second home was the step out the discovered another lens, that's not what we call the upper hilltop zone, and we start stepping out we found east hilltop.

Speaker Change #124: We discovered what's likely the extension of lower hilltop further to the west in this image this horizon or this fault structure as brand rebrand newly identified it in mid 2022, So just I guess about 20 months ago now.

Ewan Downie: We brand newly identified it in mid-2022, so just, I guess about 20 months ago now. It is completely open for expansion. Between us and FAD, which is about 2km to the south, this CRD system under alluvial cover is essentially untested. It's a huge exploration target here, and at the right time, we will look to embark on more exploration here. The FAD project was acquired by the company in 2023. We did complete drilling. This is, in my belief, one of the highest grade polymetallic deposits you'll find anywhere in the world right now. If you look at one of the more recent mines put into production in the world was Adriatic, a polymetallic mine in. Was that in Bosnia?

Speaker Change #110: And it is completely open for expansion between us and Fad, which is.

Speaker Change #112: About two kilometers to the south this CRD system under alluvial covers essentially untested. So it was a huge exploration target here and at the right time, we will look to embark on more exploration here.

Ewan Stewart Downie: So it's a huge exploration target here, and at the right time, we will look to embark on more exploration here. The FAB project was acquired by the company in 2023. We did complete drilling. This is, in my belief, one of the highest-grade polymetallic deposits you'll find anywhere in the world right now. If you look at one of the more recent mines put into production in the world, Adriatic, a polymetallic mine in, is that in Bosnia? Kosovo. Where?

The company: The Fab project was acquired by the company in 2023.

Speaker Change #118: We did complete drilling this is in my belief one of the highest grade poly metallic deposits, you'll find anywhere in the world right. Now if you look at one of the more recent minds put into production.

Speaker Change #115: In the World was Adriatic Poly metallic mine in.

[Analyst 1]: Bosnia.

Speaker Change #114: In Bosnia.

Ewan Downie: Where?

[Analyst 1]: Bosnia.

Ewan Stewart Downie: Also... And if you look at the grades of FAD and what we're doing at Hilltop, I'd argue that you'll see that when we publish resources, our grades are likely to be higher. This deposit remains wide open for expansion. It's the down-dip extension of one of the largest historic mines in this district.

Speaker Change #113: We're hopeful.

Ewan Downie: If you look at the grades of FAD and what we're doing at Hilltop, I'd argue that you'll see that when we publish resources, our grades are likely to be higher. This deposit remains wide open for expansion. It's the down dip extension of one of the largest mines, historic mines in this district. Though we don't tend to focus on FAD in 2024, it is truly a significant upside opportunity in our company. Going forward, we're in a much better position than we were sitting when I was at the podium last year. Last year, I was like, "Oh, shit, how..." Sorry, but language. You know, how do we gonna keep this ship going? Tough markets, we're slowing projects down rather than speeding things up.

Speaker Change #129: And and if you look at the grades of Fad in what we're doing at telecom.

Speaker Change #120: I'd argue that Youll see that when we published resources, our grades are likely to be higher.

Speaker Change #126: This deposit remains wide open for expansion.

unknown: Down dip extension of one of the largest mines historic mines in this district.

Ewan Stewart Downie: And though we don't intend to focus on FAD in 2024, it is truly a significant upside opportunity for our company. So going forward, we're in a much better position than we were sitting when I was at the podium last year. Last year I was like, oh shit, sorry, but language, how do we keep this ship going?

Speaker Change #127: No we don't tend to focus on Fad in 2024, it is truly a significant upside opportunity in our company.

Speaker Change #130: So going forward.

Speaker Change #119: We're in a much better position than where.

Speaker Change #119: We were sending when I was at the podium last year last year I think oceana.

Speaker Change #134: Sorry, what language.

unknown: And how do we get to keep this at shipbuilding.

Ewan Stewart Downie: Tough markets, we're slowing projects down rather than speeding things up. And I look at this graph, and I'm going to end here. How does this company achieve success? One is converting our resources to reserves.

Speaker Change #125: Tough markets.

Speaker Change #125: We're slowing projects down rather than speeding things up.

Ewan Downie: I look at this graph, and I'm gonna end here. The question is how does this company achieve success? One is converting our resources to reserves. That's gonna be a very important part of our 2024 work. Delivering technical studies to enhance our financing options. When you don't have feasibility studies, you know, getting a debt financing to build a mine is not there. As we elevate the engineering work on these projects, it will just enhance our financing options going forward, and that will allow us to deliver on our long-term production growth plan. I think we need to better message and execute a concise plan and how we're going to achieve the company's goals. You know, I like saying, Oh, look at that drill hole. It's wide open. But we need to convert that into mine success.

Speaker Change #128: And I look at this this graph and I'm going to end here is how does this company achieved success. One is converting our resources to reserves that is going to be a very important part of our 2000 22020 for work.

Ewan Stewart Downie: That's going to be a very important part of our 2024 work, delivering technical studies to enhance our financing options. When you don't have feasibility studies, getting debt financing to build a mine is not there.

Speaker Change #133: Delivering technical studies to enhance our financing options when you don't have feasibility studies.

Speaker Change #132: Getting a debt financing to build the mine is not there so as we elevate the engineering work on these projects. It will just enhance our financing options going forward and that will allow us to deliver on our long term production growth plan.

Ewan Stewart Downie: So as we elevate the engineering work on these projects, it'll just enhance our financing options going forward, and that will allow us to deliver on our long-term production growth. I think we need to better message and execute a concise plan and how we're going to achieve the company's goals. I like saying, "oh look at that drill hole; it's wide open, but we need to convert that into mind success." So my final point of this year's presentation is, how do we turn exploration success into operational excellence? And I thank everybody for attending this year. And I don't know if we are taking questions, or aren't we? Take a couple from the room if there are any, and if not, every year, let's...

Speaker Change #123: I think we need to better message and executed a concise plan.

Speaker Change #123: And how we're going to achieve the company's goals.

Speaker Change #131: I like saying, Oh look at that drill hole might open, but we need to convert that into mind success. So my final point of this years.

Ewan Downie: My final point of this year's presentation is: How do we turn exploration success into operational excellence? I thank everybody for attending this year. I don't know if we're taking questions, or are we? Take a couple from the room if there are any. If not, as I say every year, let's go that way and have some refreshments.

Speaker Change #121: Presentation is how do we turn exploration success into operational excellence.

Speaker Change #121: I. Thank everybody for attending this year and I don't know hopefully, we're taking questions or army.

Speaker Change #122: Take a couple from the room, if there are if not the.

Speaker Change #122: At this every year every year.

Speaker Change #122: Will that weigh in.

Speaker Change #137: I have some refreshing.

Speaker Change #122: Okay.

Operator: Ewan, I just wanted to confirm or maybe clarify what I heard on a recent podcast that you did where you were asked when the company will have a positive cash flow, and the response was, well, it'll be after Ruby Hill Base Metals is up and running and maybe 26 or 27, is that correct or not? As a business, it's

[Analyst 1]: Ewan, I just wanted you to confirm or maybe clarify what I heard on a recent podcast that you did where you-

Speaker Change #122: Yes.

Speaker Change #135: Just wanted you.

Speaker Change #138: You to confirm or maybe clarify what I heard on our recent podcast that you did were.

[Analyst 1]: When the company will have a positive cash flow and the response was, well, it'll be after the Ruby Hill base metals is up and running in maybe 2026 or 2027. Is that correct or?

Speaker Change #144: You were asked when the company will have a positive cash flow and the response was well it'll be after the Ruby Hill base metals is up and running in <unk>.

Speaker Change #145: Maybe 26 or 27 is that correct or as a business thats going to be several years. So.

Ewan Stewart Downie: As a business, it's going to be several years, so right now, we believe that the first project of ours that will generate positive cash flow as a project is expected to be Granite Creek. But the cash flow that we'll realize from that portion of our business will not build Cove and Ruby Hill or an autoclave. So as a company to be truly cash flow positive, when we publish, right now, we give no guidance, but we expect to in the future, once we start delivering feasibility studies. At that point, when we've got all of the technical studies upgraded, then we'll be able to give better clarity on when we expect to become a cash flow positive company. But we are, as we've been termed, still termed a developer, not a miner, and that development will continue over the next several years.

Ewan Downie: As a business, it's gonna be several years. Right now, we believe that the first project of ours that will generate positive cash flow as a project is expected to be Granite Creek. The cash flow that we'll realize from that portion of our business will not build Cove and Ruby Hill and an autoclave. As a company to be truly cash flow positive, at, you know, when we're publishing, you know, right now we give no guidance, but we expect to in the future once we start delivering feasibility studies, is at that point, when we've got all of the technical studies upgraded, then we'll be able to give better clarity on when we expect to become a cash flow positive company. We are, as we've still termed as a developer, not a miner.

Speaker Change #136: Right now we believe that the first project of ours that will generate positive cash flow as the project is expected to be granite Creek, but the cash flow that we'll realize from that.

Speaker Change #142: <unk> of our business will not build Cove, and Ruby Hill and an autoclave.

Speaker Change #139: So as a company to be truly cash flow positive.

Speaker Change #139: Sure.

Speaker Change #140: When we're publishing right.

Speaker Change #143: Right now, we give no guidance, but we expect to in the future. Once we start delivering feasibility study is at that point when we've got all of the technical studies upgraded then we'll be able to give better clarity on when we expect to become cash flow positive company, but.

Speaker Change #143: But we are as we'd be.

Speaker Change #141: <unk> is a developer not a miner.

Ewan Downie: That development will continue over the next several years.

Speaker Change #139: And.

Speaker Change #139: That development will continue over the next several years.

Operator: I was just wondering, I don't want to preach to the choir because you all know what exactly you have to do, but since you were mentioning there are four projects... and each of them is big, and each of them is swallowing a lot of money. So to me, I-80 was the darling of the market those days. All of a sudden, because when the investment banker sees that you are swallowing so much money, you have become prey to the investment banker.

Speaker Change #139: Okay.

[Analyst 2]: I was just wondering. I don't want to preach to the choir because you all know what it is exactly you have to do. Since you were mentioning there are four projects and each of them are big, and each of them are swallowing a lot of money. To me, i-80 was the darling of the market those days. All of a sudden, because when the investment banker sees that you are swallowing so much money, it has become a prey to the investment bankers. I was just wondering, since you were mentioning, Ruby Hill is almost like a greenfield hard rock project, 5 million ounces.

[Analyst 1]: I was just wondering. I don't want to preach to the choir because you all know what it is exactly you have to do. Since you were mentioning there are four projects and each of them are big, and each of them are swallowing a lot of money. To me, i-80 was the darling of the market those days. All of a sudden, because when the investment banker sees that you are swallowing so much money, it has become a prey to the investment bankers. I was just wondering, since you were mentioning, Ruby Hill is almost like a greenfield hard rock project, 5 million ounces.

Speaker Change #146: I was just wondering I don't want to preach to the clear because you all know what exactly you have to do but since you mentioned that a full projects.

Speaker Change #146: Each of them are big and the each of the muscle and a lot of money. So to me IAG was a darling of the market utilization all of those headwinds.

Speaker Change #146: Because when the investment bankruptcies that youre installing so much money it does become a prelude to the investment bankers. So I was just wondering since we were mentioning.

Operator: I was just wondering, since you were mentioning Ruby Hill is almost like a hard rock project, 5 million ounces, why not? Is it possible to just develop that project and leave everything on KRF maintenance, and then you will get lots of money, and then you can start doing it so that you won't spend so much money and then become prey to the investment bankers?

Jim Cramer: <unk> Hill is almost like leading hardrock project 5 million ounces why not is it possible to just develop that project and lever moving on killer main tenant and then you'll get lots of money and then you can start doing some of the <unk> spent so much money and then become trade to the investment bankers, we've got we've got them <unk>.

Operator: Is it possible to just develop that project and leave everything on care and maintenance, and then you will get lots of money, and then you can start doing it so that you won't spend so much money and then become prey to the investment bankers?

[Analyst 1]: Is it possible to just develop that project and leave everything on care and maintenance, and then you will get lots of money, and then you can start doing it so that you won't spend so much money and then become prey to the investment bankers?

Ewan Stewart Downie: We've got toll milling arrangements with Nevada Gold Mines that are contingent on us continuing to build our business, so stopping is not really an option for us. We plan to capitalize on having a working relationship with existing facilities to be able to help fund our business.

Ewan Downie: We've got toll milling arrangements with Nevada Gold Mines that are contingent on us continuing to build our business. Stopping is not really an option for us. We plan to capitalize on having a working relationship with existing facilities to be able to help fund our business. You know, I always say that as soon as you take your foot off the gas, you're going down. Normally, people say, "Oh, why don't you save for better days?" You know, better days don't always come. Continuing on with your business plan is important. As you said, pray to the investment bankers, we've had our short position increase significantly. I think when we raised capital in February, it was really deemed that these guys just put a Band-Aid on it, and they're coming back, and our short position started to go up.

Speaker Change #151: Milling arrangements with Nevada gold mines that are contingent on us continuing to build our business. So staffing is not really an option for us we plan to capitalize on having a working relationship with existing facilities to be able to help fund our business.

Ewan Stewart Downie: I always say that as soon as you take your foot off the gas, you're going down. Normally, people say, "Why don't you save for better days," but better days don't always come. So continuing on with your business plan is important, and as you said, pray to the investment bankers. We've had our short position increase significantly. I think when we raised capital in February, it was really deemed that these guys just put a Band-Aid on it, and they're coming back, and our short position started to go up, and I expect to see that decrease significantly now that we've completed the financing.

Jim Cramer: Yes.

Jim Cramer: I always say that as soon as you take your foot off the gas youre going down normally people say why don't you save for better days, but better.

Speaker Change #148: Better days don't always come so continuing on with your business plans and important and as you said pray to the investment bankers. We've had our short position increased significantly I think when we raised capital in February It was really deem that these guys just put a band aid on it and they are coming back and our short position starting to go.

Ewan Downie: I expect to see that decrease significantly now that we've completed the financing.

Speaker Change #148: And I expect to see that decrease significantly now that we've.

Speaker Change #148: Completed a financing.

Ewan Stewart Downie: I heard the board deals are broad deals. The board deals are sometimes brought by them. Yeah, sometimes they can be. You know, in respect of the bankers, I'm not going to comment on that.

[Analyst 2]: I heard the board deals are broad deals. The board deals are sometimes broad deals by them.

Speaker Change #149: They said the board is a broad deals.

Speaker Change #149: The board views, sometimes broad deals by them.

Ewan Downie: Yeah, sometimes they can be. I, you know, in respect for the bankers, I'm not gonna comment on that. We've got great relationships with the bankers, though, by the way. Well, with no other questions, thank you everybody again for attending. It's always a pleasure to stand up here and talk to you and, look forward to the future. Thank you.

Jim Cramer: Sometimes it can be.

Jim Cramer: And respect for the bankers im not going to comment.

Jim Cramer: We've got great relationships with bankers.

Jim Cramer: Yeah.

Jim Cramer: Yes.

Jim Cramer: Okay.

Ewan Stewart Downie: Thank you everybody again for attending. It's always a pleasure to stand up here and talk to you. I look forward to the future. Thank you.

Speaker Change #150: And with no other questions. Thank you everybody again for attending it's always a pleasure to stand up here and talk to you in.

Speaker Change #150: Look forward to the future. Thank you.

Speaker Change #150: Okay.

Speaker Change #150: Yes.

Speaker Change #150: Okay.

Speaker Change #150: Yes.

Speaker Change #150: Sure.

Speaker Change #150: Okay.

Speaker Change #150: Sure.

Speaker Change #150: [music].

Q1 2024 i-80 Gold Corp Earnings Call and Investor Day

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