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ARTG.V ·

Artemis Gold Returns to Full Construction at Blackwater

Mine Development & Operations

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

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

August 3, 2023 TSXV:ARTG

PRESS RELEASE

Artemis Gold Returns to Full Construction at Blackwater

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

reports that all site activities have recommenced at the Blackwater mine , with staff and contractor

occupancy levels on site corresponding to those before the recent wildfire event.

Artemis Gold President and COO Jeremy Langford stated: “Site management has implemented its return

to full construction in a disciplined manner with the safety of our employees and contractors as our top

priority. The Company acknowledges that the wildfire period in B.C is not yet over, and we are in daily

communication with the local and regional authorities on situational updates as and when they arise.”

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 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 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

Steven Dean

Chairman and Chief Executive Officer

+1 604 558 1107

Investor Relations contact

Meg Brown

Vice President, Investor Relations

[email protected]

+1 (778) 899-0518

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.

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

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

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; opinion s 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 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. Important 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 finan cial 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.sedar.com.

In making the forward -looking statements in this press release, the Company has applied seve ral material

assumptions, including without limitation, the assumptions that: (1) market fundamentals will result in sustained

mineral demand and prices; (2) any necessary 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) sustained commodity prices will continue to make

the project economically viable; and (5) ther e 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 the 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

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 obligation, 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.