08:58 AM EDT, 09/05/2025 (MT Newswires) -- i-80 GOLD ( IAUX ) has seen its U.S.-listed shares rise by 3.5% in pre-market trading on Friday after it received all required permits and started construction at the Archimedes project as planned.

It said the environmental permits secured from the Nevada Division of Environmental Protection and the Bureau of Land Management allow it to proceed with underground mining activities. The company expects Archimedes to begin contributing to production in the fourth quarter of 2026.

"The receipt of permits and commencement of construction at Archimedes marks a major milestone for i-80 Gold ( IAUX ) as we advance Phase One of our growth strategy in Nevada; Phase One is expected to increase annual gold output from less than 50,000 ounces to a target range of 150,000 to 200,000 ounces of gold by 2028," stated i-80 Gold ( IAUX ) Chief Executive Richard Young. "The lower zone remains open to the north and south, offering substantial exploration potential that we believe can extend the current 10-year mine life."

Young added in a statement: "We have accelerated the infill drill program covering both the upper and lower zones to support a feasibility study anticipated in the first quarter of 2027, ahead of the original timeline included in the preliminary economic assessment."

i-80 Gold ( IAUX ) expects the three-phase development plan to increase gold output to an annual target of 600,000 ounces in the early 2030s. It added that the Lone Tree refurbishment Class 3 engineering study remains on schedule for completion in Q4 of 2025, followed by the feasibility study for Granite Creek Underground planned for completion in Q1 of 2026.

U.S.-listed shares of the company were last seen up US$0.0277 at US$0.8089 in pre-market trading.