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ARTG.V ·

BC Mines Act Permit Referred FOR Decision

Corporate Updates

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

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

NEWS RELEASE

February 27, 2023 Trading Symbol: TSX-V: ARTG

BC MINES ACT PERMIT REFERRED FOR DECISION

Vancouver, British Columbia , February 27, 2023 – Artemis Gold Inc. (TSX-V: ARTG) (“Artemis” or the

“Company”) is pleased to announce that the BC Mines Act permit for its Blackwater Project (“Blackwater”)

has been referred to the BC Ministry of Energy, Mines and Low Carbon Innovation Statutory Decision

Maker for decision. The referral for decision marks the end of the permit’s review phase and is the last

procedural step prior to a decision.

“With completion of this important step, the BC Mines Act Permit remains on track for decision in Q1

2023 as previously disclosed,” said Steven Dean, Chairman and CEO for Artemis Gold Inc. “This is the

last major permit required for the start of major construction activities at Blackwater later in Q1 2023.”

Further updates will be provided in due course.

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

Investor Relations contact:

Nicholas Campbell

VP Capital Markets

+1 (604) 558-1107

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 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", "expect", "intend", "estimate", "anticipate", "believe", "continue",

"plans", "potential", “target” or similar terminology. Forward -looking sta tements 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 f orecasts, 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 nu merous 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, inaccurate 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 escalatio n, 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 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 any properties; (3) the availability of financing on suitable terms for t he 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 materia lly 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.