Sanders vows to fight ‘until the day of the convention’
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Bernie SandersBernie SandersOvernight Regulation: Biz groups push to scrap rule on reporting employee pay | GOP skeptical of Trump paid leave plan GOP skeptical of Trump plan for paid parental leave Sanders: Trump plan to cut Medicaid is 'just cruel' MORE says he’s staying in the Democratic presidential primary race no matter the outcome of Monday’s Iowa caucuses, which are lining up to be a nail-biter between himself and Hillary ClintonHillary Rodham ClintonHannity: I won't discuss Seth Rich story for now "out of respect for the family" Clinton slams Trump's budget: 'An unimaginable level of cruelty' Trump’s crisis of legitimacy MORE.

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"We are in this for the long haul," Sanders told CBS News shortly before the caucuses are set to begin. "We're going to be there fighting until the day of the convention. There are a lot of states out there and we now have a strong volunteer base in many, many states.”

Iowa is viewed by many to be a must-win state for Sanders, although he enters caucus night as a slight underdog.

If the Vermont senator loses Iowa, he’s still the heavy favorite to win in New Hampshire.

However, Clinton has a huge lead among minority voters, who are expected to give her a boost once the contests turn to more diverse states like Nevada and South Carolina.

Still, Sanders signaled Monday that he could withstand a loss to Clinton in Iowa.

"We have the resources, we have the energy to continue the struggle and I think at the end of the day we're going to surprise a lot of people,” he said. “I think we're gonna win this thing."