Please stand by. Good morning. My name is Justin and I will be your conference operator today. At this time, I'd like to welcome everyone to the i-80 Gold Corp. Second quarter 2022 Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions] Thank you. Mr. Downie, you may begin your conference.

Thank you. And thank you for everyone for attending today's presentation. i-80 Gold Corp. is one of the industry's newest gold producers. We are a company that produces entirely from the United States in Nevada and our company is traded both on the TSX under the symbol IAU and the New York Stock Exchange under the symbol IAUX. On Slide 2 of the presentation, I will introduce the participants today. There's myself, I'm the CEO of the company, Ryan Snow, our CFO; and Matt Gollat, Executive Vice President and Matt Gili is unable to attend today's presentation. Slide 3 is the standard disclaimer statement that talks about potential forward-looking statements that may be made here are forward-looking information. And I urge everybody to read this slide before when you look at our presentation. I will pass on the presentation for the next few slides to our company's Chief Financial Officer, Ryan Snow.

Thanks, Ewan, and good morning to those listening today. Yesterday, the company reported our financial statements and MD&A for the second quarter of 2022, and they can be found on SEDAR, EDGAR and the company's website. On Slide 4, the highlights for the second quarter of 2022 included commencing trading on the New York Stock Exchange on May 19 under the symbol IAUX. Gold sales of $3,507 ounces from leaching activities at Ruby Hill and Lone Tree. This was a 42% increase from Q1 and I think we will see a similar increase for Q3 from Q2. These gold ounces were produced at an all-in sustaining cost of $1,356 per ounce sold. Completion of the previously announced funding package for $75 million with Orion Mine Finance. Ending cash balance for the quarter of $101 million, in addition to $30.8 million in restricted cash. We also continue to advance our exploration programs at Granite Creek and Ruby Hill with 25,870 feet of core drilled at Granite Creek and 21,596 feet of core drilled at Ruby Hill. The company continued the engineering study on the autoclave refurbishment on plan and acquired key water rights for the development of the co-project. On Slide 5 of the presentation. Our second quarter highlights include revenue of $6.4 million, bringing year-to-date revenue to $9.2 million. This generated mine operating income of $1.8 million for the quarter and $2.9 million year-to-date. Earnings for the quarter were $19.3 million or $0.08 per share, which represents the impact of mark-to-market gains on the company's convertible debt, outstanding warrants, gold prepay, and silver purchase and sale agreement. When adjusted for these gains, the company was in a loss position for the quarter of $21.5 million or $0.09 per share. For the year, the company is in a loss position of…

Thank you, Ryan. Just talk about some of the highlights that we've had here in the first half of 2022. On the exploration side, we have had outstanding success at Granite Creek. We continue to expand both the Ogee zone and more importantly, the new South Pacific horizon, where we've had numerous high grade intercepts in excessive 10 grams per ton. We're also having initial results are now starting to be released from Ruby Hill where we have a major drilling campaign going on and we've intersected some of the widest and highest grade mineralization we've seen in our company's history to-date. We've also commenced exploration so more generative exploration at the Ruby Hill property. And we're quite excited by some of the results that are coming out of that program. In terms of corporate development during the first half of this year, we were listed on the New York Stock Exchange, which was a real bucket list item for some of us in the company. We completed our first gold sale in company history. We increased our Granite Creek land package with a transaction with Nevada Gold Mines that extends our land position, approximately 1 mile or 1.6 kilometers to the north towards Nevada Gold Mines, Turquoise Ridge operation. We commenced the development of our exploration decline at McCoy-Cove. And to-date we've completed approximately 1,200 feet of advance. Drilling is on track to commence in late Q3 or early Q4. We acquired key water rights that will allow us to advance the Cove Project to eventually what we expect to be full production. And we completed the silver stream and gold prepay portion of the $135 million financing packages that we completed with Orion and Sprott. Going to Slide 9, we're going to talk a bit about some of…

Thank you. [Operator Instructions] At this time there are no questions. I’ll turn the conference back over to you.

Okay. We have a couple of online questions that we are going to answer. The number seven or one of the questions is at McCoy-Cove we’ve completed about 1,200 of the decline. What is the total length? The total length is expected to be approximately 5,200 feet of development. So we're almost a quarter of the way completed of the full development. We don't expect to have the entire initial development completed until sort of midyear Q3 of next year. Another question is on the Ruby Hill resource, how much a Blackjack and 426 will be coming in. 426 is definitely going to be a large component of the updated resource. And it is something we are actively drilling because we can't drill Blackjack. We're not sure exactly how much is going to be able to come into that. Given it was drilled – some of the drilling there was up to 25 years ago. Some of the QA and QC procedures that are required for 43-101 have not been completed. So we have to look at how we deal with that and our limited ability to twin holes. But 426 is definitely being drilled in the next week or two. You should see some of the results coming out of that. And we're very impressed with the drilling that's coming out of that. The targeted spend on the refurbishment of Lone Tree, we've been guiding that the program is expected to be somewhere around 150 million to 200 million pre-contingency. So we will add contingency. So that, those are the numbers that we've provided to investors in the past, we're still expecting that number to be generally in line. As I said, we will add a contingency and we have made a few, there have been a few components that we've decided to change now that it is not being used instead of shutting down in the next few years after restart. So but we are expecting the numbers to be fairly closer in line to what our previous guidance. Just reading through one or two more questions, and then I'll open up the floor again. One question is when do we expect processing from Nevada Gold Mines? I believe that they will start blending, the blending bulk sample program in the late Q3 of this year. And we will get our gold from that and assuming all goes well, we will start delivering our ore on a daily basis, call a production decision. And with that, we would then start to see cash flow coming in Q4. But the early parts of that program need to be completed first before we go to full development. Other than that, we're not going to give any real production on the Granite Creek guidance, because we are completing the first phase of that program. With that I'll open up the floor again and see if there are any calls. I understand there may be one.

[Operator Instructions] At this time, there are no – I'm sorry. Go ahead.

I was going to say, thanks. That doesn't sound like there's any phone questions. We are very accessible. We pride ourselves in being a very accessible company, so please feel free to reach out to Ryan, myself, Matt Gili, or Matt Gollat with any further questions, or just call into the corporate offices. Thank you everybody for attending. And we're looking forward to more excitement in Q3.

Thank you. And that does conclude today's conference. We do thank you for your participation. Have an excellent day.