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ARTG.V ·

Artemis Gold Announces Receipt of Fisheries Act Authorization

Corporate Updates

Artemis Gold Inc. | 595 Burrard St., Suite 3083, Vancouver, BC V7X 1L3

Phone: 604.558.1107 [email protected] www.artemisgoldinc.com

July 4, 2023 TSXV:ARTG

PRESS RELEASE

Artemis Gold Announces Receipt of Fisheries Act Authorization

Vancouver, British Columbia – Artemis Gold Inc. (TSX-V: ARTG) (“Artemis Gold” or the “Company”)

announces receipt of the Fisheries Act Authorization for development of the Blackwater Mine

(“Blackwater”). The Fisheries Act Authorization is the Government of Canada’s approval of the

Company’s plan to avoid, mitigate and offset impacts to fish habitat in and around the Blackwater area.

In particular, it facilitates the commencement of in-stream construction works including the building of

water diversion structures and dams in the Davidson Creek valley which runs though the basin of the

Blackwater tailings storage facility.

Steven Dean, Chairman and CEO of Artemis Gold, said: “This represents yet another important milestone

in the construction of Blackwater, which will be one of B .C.’s largest gold mines and a significant

contributor to the local, provincial, and federal econom ies. Our senior management and construction

teams are focused on completing Phase 1 construction on schedule to pour first gold in H2 2024.”

About Artemis Gold Inc.

Artemis Gold Inc. is a well -financed, growth-oriented gold development company with a strong financial

capacity aimed at creating shareholder value through the identification, acquisition, and development of

gold properties in mining -friendly jurisdictions . The company’s current focus is construction of the

Blackwater Mine project in central British Columbia approximately 160km southwest of Prince George

and 450km northeast of Vancouver. The project is one of the largest capital investments in the Bulkley -

Nechako, Fraser-Fort George and Cariboo regions of B.C. in the last decade. The first pour of gold and

silver from Blackwater Mine is expected H2 2024 and the mine is expected to be in production for a

minimum of 22 years. Artemis Gold trades on the TSX-V under the symbol “ARTG”. For more information

visit: 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

Steven Dean

Chairman and Chief Executive Officer

+1 604 558 1107

For further information

Investor Relations contact

Meghan Brown

Vice President, Investor Relations

[email protected]

+1 778 899 0518

Artemis Gold Inc. | 595 Burrard St., Suite 3083, Vancouver, BC V7X 1L3

Phone: 604.558.1107 [email protected] www.artemisgoldinc.com

Media relations contact

[email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the

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. Forward -looking statements and

information can generally be identified by the use of forward -looking terminology such as “may”, “will”,

“expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans”, “potential” or similar terminology.

Forward-looking statements and information are not historical facts, are made as of the date of this news

release, and include, but are not limited to, statements regarding the potential of the Project; the jobs to

be created in connection with the Project; the contribution of the Project to the economy; opinions of the

Province of British Columbia regarding the Project and the region; agreements and relationships with

Indigenous partners; the future of mining in British Columbia; the plans of the Company with respect to

the Project, including construction, site preparation, clearing, consultation with indigenous groups ;; and

other plans and expectations of the Company with respect to the Project. These forward -looking

statements involve numerous risks and uncertainties and actual results may vary. Important factors that

may cause actual results to vary include wi thout limitation, risks related to the ability of the Company to

accomplish its plans and objectives with respect to the development of the Project within the expected

timing or at all, the timing and receipt of certain required approvals, changes in commo dity prices,

changes in interest and currency exchange rates, risks inherent in exploration and development activities,

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 or third party

contractors, delays in the receipt of government approvals, industrial disturbances, jo b action, and

unanticipated events related to hea lth, safety and environmental matters), the COVID -19 pandemic,

political risk, social unrest, changes in general economic conditions or conditions in the financial markets,

and other risks related to the abi lity of the Company to proceed with its plans for the Project and other

risks set out in the Company’s most recent MD&A. In making the forward-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 the Project; (3)

the availability of financing on suitable terms for the development, construction and continued operation

of the Project; (4) sustained commodity prices such that the Project remains economically viable; and (5)

that the COVID-19 pandemic and restrictions related thereto will not materially impact the Company or

prevent the Company from operating its business as planned. The actual results or performance by the

Company could differ materially from those expressed in, or implied by, any forward-looking statements.

Accordingly, no assurances c an 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 disclaim 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.