Artemis Gold Announces $450 Million, 5-Year Senior Unsecured Notes Offering to Refinance Revolving Credit Facility

Press Release

January 26, 2026

Vancouver, British Columbia – Artemis Gold Inc. (TSX-V: ARTG) (“Artemis Gold” or the “Company”) announces it has commenced a private placement offering (the “Offering”) of $450 million aggregate principal amount of senior unsecured notes due 2031 (the “Notes”). The Notes will be issued at par under a trust indenture and will be direct senior unsecured obligations of Artemis Gold ranking equal with all other present and future senior unsecured indebtedness of the Company. Closing of the Offering is expected to occur on or about February 3, 2026, subject to satisfaction of customary closing conditions. This is a marketed deal, and final terms will be announced once determined.

The Company currently has approximately $450 million outstanding under its revolving credit facility (the “RCF”). Subject to completion of the Offering, the net proceeds are expected to be used to refinance amounts outstanding under the RCF and pay bond issuance related transaction expenses. The Company remains confident in its previously disclosed capital and operating guidance for both 2026 and for the total estimated cost of the Expanded Phase 2 (“EP2”) project. The Company may consider reducing the current RCF limit of $700 million in the short to medium term.

The current strategic focus for the Company remains delivering near-term organic growth and the Company does not intend to pursue material acquisitions with the proceeds of this Offering or the RCF at this time.

Artemis Gold CEO Dale Andres commented: “With credit spreads near historic lows and attractive all-in yields, this Offering represents a cost-effective source of long-term debt that aligns well with the long-life nature of the Blackwater Mine and is a prudent refinancing and risk management initiative for Artemis Gold. It strategically positions the Company well to execute on our previously announced growth plans as we advance our Phase 1A expansion and EP2 projects which are expected to be fully funded through operating cash flow and supported by the ongoing strong gold price environment.

“This is an exceptionally attractive opportunity to secure long-term capital at a very competitive cost. With our industry leading low AISC1 cost position and strong expected cash flows from the Blackwater Mine, we also expect the Board to consider adopting a shareholder return policy over the coming months which may include a progressive dividend framework and/or a normal course issuer bid (“NCIB”) to return excess cash to shareholders.”

BMO Capital Markets and RBC Capital Markets are acting as joint active bookrunners and National Bank Capital Markets as joint passive bookrunner for the Offering. The Notes will be offered in each of the provinces of Canada and in the United States on a private placement basis. The Notes will not be qualified for distribution to the public or registered under the securities laws of any province or territory of Canada or in the United States. They will only be offered in the provinces of Canada and in the United States pursuant to applicable exemptions from the prospectus and registration requirements thereunder.

This news release shall not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such an offer, solicitation, or sale would be unlawful. No securities regulatory authority has either approved or disapproved of the contents of this news release.

About Artemis Gold

Artemis Gold is a well-financed, growth-oriented gold and silver producer and 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 primary focus is the operation and further development of the Blackwater Mine in central British Columbia approximately 160km southwest of Prince George and 450 kilometres northeast of Vancouver. Blackwater produced 192,808 ounces of gold in 2025, its first year of operation, and is expected to produce 265,000-290,000 ounces of gold in 2026 at all-in sustaining costs1 of $925-$1,025 per ounce of gold sold, making it one of the lowest cost and highest margin mines in the industry. Artemis Gold trades on the TSX-V under the symbol ARTG and the OTCQX under the symbol ARGTF. For more information visit www.artemisgoldinc.com.

Qualified Person

Artemis Gold Chief Business Development Officer, Tony Scott, P. Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.

Investor Relations contact

Meg Brown
Vice President, Investor Relations
mbrown@artemisgoldinc.com
+1 778 899 0518

Media relations contact

media@artemisgoldinc.com

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