Artemis Gold Provides Ramp-up Update at the Blackwater Mine
Artemis Gold Inc. | 595 Burrard St., Suite 3083, Vancouver, BC V7X 1L3
Phone: 604.558.1107 [email protected] www.artemisgoldinc.com
February 24, 2025 TSXV: ARTG
PRESS RELEASE
Artemis Gold Provides Ramp-up Update at the Blackwater Mine
Vancouver, British Columbia – Artemis Gold Inc. (TSX-V: ARTG) (“Artemis Gold” or the “Company”) is
pleased to announce the Company has continued its ramp- up of the Blackwater Mine (“Blackwater”)
since the first pour of gold and silver doré on January 29, 2025.
The crushing circuit is currently averaging 16,500 ore tonnes per day (in excess of nameplate capacity)
and the ball mill is currently averaging more than 1 2,500 tonnes of ore per day (over 75% of nameplate
capacity).
During February 2025, the Company has completed commissioning and handover of its third production
excavator. Blackwater’s heavy haul fleet is direct-tipping into the primary crusher. Operations integration
and budgeted operational roles have all been filled.
The processing facility is currently stripping carbon on a daily basis and the performance of both the dry
and wet plant are expected to increase further as Blackwater continues to target commercial production
in Q2 2025.
About Artemis Gold
Artemis Gold 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 the Blackwater Mine in
central British Columbia approximately 160km southwest of Prince George and 450km northeast of
Vancouver. First gold and silver pour at Blackwater was achieved in January 2025 and the Company is
focussed on ramping up to commercial production in Q2 2025. Artemis Gold trades on the TSX-V under
the symbol ARTG. For more information visit 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 press release.
On behalf of the Board of Directors
Steven Dean
Chairman and Chief Executive Officer
+1 604 558 1107
Investor Relations contact
Meg Brown
Vice President, Investor Relations
+1 778 899 0518
Media relations contact
Artemis Gold Inc. | 595 Burrard St., Suite 3083, Vancouver, BC V7X 1L3
Phone: 604.558.1107 [email protected] www.artemisgoldinc.com
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 news
release.
Cautionary Note Regarding Forward-looking Information
This press release contains certain forward -looking statements and forward -looking information as defined under
applicable Canadian and U.S. securities laws. Statements contained in this press release that are not historical
facts are forward-looking statements that involve known and unknown risks and uncertainties. Any statements that
refer to expectations, projections or other characterizations of future events or circumstances contain forward -
looking statements. In certain cases, forward -looking statements and information can be identified using forward-
looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans”,
“potential” or similar terminology. Forward-looking statements and information are made as of the date of this press
release, and include, but are not limited to, statements regarding the potential of the Blackwater mine 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 rega rding 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 i ndigenous groups, and other plans and expectations of
the Company with respect to the project , ramp up in production and anticipated timing of achieving commercial
production.
These forward-looking statements represent management’s current beliefs, expectations, estimates and projections
regarding future events and operating performance, which are based on information currently available to
management, management’s historical experience, perception of trends and current business conditions, expected
future developments and other factors which management considers appropriate. Such forward-looking statements
involve numerous risks and uncertainties, and actual results may vary. Im portant risks and other 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 development of the project within the expected timing or at all, the timing
and receipt of certain required approvals, changes in commodity prices, changes in interest and currency exchange
rates, risks inherent in exploration estimates and results, 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, job action, and unanticipated events related to heath, safety and
environmental matters), changes in governmental regulation of mining operations, political risk, social unrest,
changes in general economic conditions or conditions in the financial markets, and other risks related to the ability
of the Company to proceed with its plans for the project and other risks set out in the Company’s most recent MD&A,
which is available on the Company’s website at www.artemisgoldinc.com and on SEDAR+ at www.sedarplus.ca
In making the forward -looking statements in this press 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) any ne cessary approvals and consents in connection with the development of the
project will be obtained; (3) financing for the development, construction and continued operation of the project will
continue to be available on terms suitable to the Company; (4) su stained commodity prices will continue to make
the project economically viable; and (5) there will not be any unfavourable changes to the economic, political,
permitting and legal climate in which the Company operates. Although the Company has attempted to identify
important factors that could affect the Company and may cause actual actions, events, or results to differ materially
from those described in forward-looking statements, there may be other factors that cause the actual results or
performance by t he Company to differ materially from those expressed in or implied by any forward -looking
statements. 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
the financial condition of the Company. Investors should therefore not place undue reliance on forward -looking
statements. The Company is under no obligation and expressly disclaims any obliga tion, to update, alter or
otherwise revise any forward -looking statement, whether written or oral, that may be made from time to time,
whether because of new information, future events or otherwise, except as may be required under applicable
securities laws.