Artemis Gold Announces Filing Of 2021 Year End Financial Results Provides Update On Blackwater

Press Release

Vancouver, British Columbia – Artemis Gold Inc. – March 30, 2022 (TSX-V: ARTG) (“Artemis” or the “Company”) is pleased to announce that it has filed its financial results for the year ending December 31, 2021. The Company’s consolidated financial statements, management discussion and analysis, as well as Annual Information Form for the year ended December 31, 2021 are available for review on SEDAR (www.sedar.com) and on the Company’s website (www.artemisgoldinc.com).

As presented in the Company’s consolidated financial statements, the Company reported a cash and cash equivalents balance of $131 million as at December 31, 2021.

The Company also provides the following update on activities regarding the development of the Blackwater Gold Project (“Blackwater” or the “Project”) in Central British Columbia:

• Early works construction at Blackwater remains targeted to commence in Q2 2022 to prepare the Project site in order to accommodate the commencement of major works construction activities.
• Artemis expects to award the Engineering Procurement and Construction (“EPC”) contract to the successful bidder for the process plant by the end of April 2022.
• The Company is now targeting receipt of the BC Mines Act Permit in Fall 2022 with major construction activities to commence shortly thereafter.
• The Project schedule maintains an estimated first gold pour date of H1 2024, consistent with the schedule outlined in the 2021 Feasibility Study technical report entitled “Blackwater Gold Project NI 43-101 Technical Report on Updated Feasibility Study” dated September 10, 2021” (“Feasibility Study”)

Steven Dean, Chairman and CEO commented, “Artemis remains focused on a disciplined approach to development of the Blackwater project. The early works program allows us to establish training and protocols, complete clearing and grubbing and bulk earthworks for the proposed process plant footprint. With the process plant EPC contract on track to be awarded to the successful bidder in late April, we will continue to advance detailed engineering in advance of a starting of major development activities in Fall 2022. Blackwater remains on track to achieve a first gold pour in H1 2024”.

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: Nicholas Campbell, VP Capital Markets, +1 (604) 558-1107.

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