ARTEMIS GOLD ANNOUNCES FILING OF 2021 YEAR END FINANCIAL RESULTS AND PROVIDES UPDATE ON BLACKWATER Al l figures presented in Canadian Dollars, unless specified otherwise
3083 Three Bentall Centre, 595 Burrard Street, Vancouver, BC, V7X 1L3
Telephone: 604.558.1107 Fax: 604.566.9050 [email protected]
www.artemisgoldinc.com
N
EWS RELEASE
March 30, 2022 Trading Symbol: TSX-V: ARTG
ARTEMIS GOLD ANNOUNCES FILING OF 2021 YEAR END FINANCIAL RESULTS
AND PROVIDES UPDATE ON BLACKWATER
Al
l figures presented in Canadian Dollars, unless specified otherwise
Vancouver, British Columbia – Artemis Gold Inc. – March 30, 202 2 (TSX-V: A RTG) ("A rtemis" or the
"Company") is pleased to announce that it has filed its financial results for the year ending December 31,
2021. The Company’s consolidated financial statements, management discussion and analysis, as well as
Annual Information Form for the year ended December 31, 2021 are av ailable for review on SEDAR
(www.sedar.com) and on the Company’s website (www.artemisgoldinc.com).
As presented in the Company’s consolidated financial statements, the Company reported a cash and cash
equivalents balance of $131 million as at December 31, 2021.
The Company also provides the following update on activities regarding the development of the
Blackwater Gold Project (“Blackwater” or the “Project”) in Central British Columbia:
• Early works construction at Blackwater remains targeted to commence in Q2 2022 to prepare the
Project site in order to accommodate the commencement of major works construction activities.
• A
rtemis expects to award the Engineering Procurement and Construction (“EPC”) contract to the
successful bidder for the process plant by the end of April 2022.
• The Company is now targeting receipt of the BC Mines Act Permit in Fall 2022 with major
construction activities to commence shortly thereafter.
• The Project schedule maintains an estimated first gold pour date of H1 2024, consistent with the
schedule outlined in the 2021 Feasibility Study technical report entitled “Blackwater Gold Project
NI 43-101 Technical Report on Updated Feasibility Study” dated September 10, 2021” (“Feasibility
Study”)
Steven Dean, Chairman and CEO commented, “Artemis remains focused on a disciplined approach to
development of the Blackwater project . The early works program allows us to establish training and
protocols, complete clearing and grubbing and bulk earthworks for the proposed process plant footprint.
With the process plant EPC contract on track to be awarded to the successful bidder in late April, we will
continue to advance detailed engineering in advance of a starting of major development activities in Fall
2022. Blackwater remains on track to achieve a first gold pour in H1 2024”.
Further updates will be provided in due course.
3083 Three Bentall Centre, 595 Burrard Street, Vancouver, BC, V7X 1L3
Telephone: 604.558.1107 Fax: 604.566.9050 [email protected]
www.artemisgoldinc.com
Qualified Person
Jeremy Langford, FAUSIMM, a Qualified Person as defined by National Instrument 43-101, has reviewed
and approved the scientific and technical information in this news release.
On behalf of the Board of Directors,
ARTEMIS GOLD INC.
On behalf of the Board of Directors
“Steven Dean”
Chairman and Chief Executive Officer
For further information: Nicholas Campbell, VP Capital Markets, +1 (604) 558-1107.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in t he
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This news release contains certain "forward looking statements" and certain "forward -looking
information" as defined under applicable Canadian and U.S. securities laws (together, “ forward-looking
statements”). Forward -looking statements can generally be identified by the use of forward- looking
terminology such as "may", "will", "e xpect", "intend", "estimate", "anticipate", "believe", "continue",
"plans", "potential" , “target” or similar terminology. Forward- looking statements in this news release
include, but are not limited to, statements and information related to the plans of the Company regarding
the Project and other statements regarding future plans, expectations, guidance, projections, objectives,
estimates and forecasts, as well as statements as to management's expectations with respect to such
matters.
Forward-looking statements and information are not historical facts and are made as of the date of this
news release. These forward -looking statements involve numerous risks and uncertainties and actual
results may vary. Important factors that may cause actual results to vary include without limitation, risks
related to the ability of the Company to accomplish its plans and objectives with respect to the Project
within the expected timing or at all; the timing of the finalization of definitive documents related to the
PLF and the satisfaction of other conditions precedent; the timing and receipt of certain approvals, changes
in commodity and power prices, changes in interest and currency exchange rates, risks inherent in
exploration estimates and results, timing and success, i naccurate geological and metallurgical
assumptions (including with respect to the size, grade and recoverability of mineral reserves and
resources), changes in development or mining plans due to changes in logistical, technical or other factors,
unanticipated operational difficulties (including failure of plant, equipment or processes to operate in
accordance with specifications, cost escalation, unavailability of materials, equipment and third party
contractors, delays in the receipt of government approvals, industrial disturbances or other job action, and
unanticipated events related to health, safety and environmental matters), political risk, social unrest, and
changes in general economic conditions or conditions in the financial markets. In making the f orward-
3083 Three Bentall Centre, 595 Burrard Street, Vancouver, BC, V7X 1L3
Telephone: 604.558.1107 Fax: 604.566.9050 [email protected]
www.artemisgoldinc.com
looking statements in this news release, the Company has applied several material assumptions, including
without limitation, the assumptions that: (1) market fundamentals will result in sustained mineral demand
and prices; (2) the receipt of any necessary approvals and consents in connection with the development of
any properties; (3) the availability of financing on suitable terms for the development, construction and
continued operation of any mineral properties; and ( 4) sustained commodity prices such that any
properties put into operation remain economically viable. The actual results or performance by the
Company could differ materially from those expressed in, or implied by, any forward- looking statements
relating to those matters. Accordingly, no assurances can be given that any of the events anticipated by
the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have
on the results of operations or financial condition of the Company. Except as required by law, the Company
is under no obligation, and expressly disclaims any obligation, to update, alter or otherwise revise any
forward-looking statement, whether written or oral, that may be made from time to time, whether as a
result of new information, future events or otherwise, except as may be required under applicable
securities laws.