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Artemis Gold Orders Primary and Ancillary Operations Mining Fleet

Press Release

Vancouver, British Columbia, April 13, 2023 – Artemis Gold Inc. (TSX-V: ARTG) (“Artemis” or the “Company”) is pleased to announce that it issued a purchase order to Finning (Canada), a division of Finning International Inc. (TSX: FTT) on April 12, 2023, for the primary and ancillary mining fleet required for the initial Phase 1 of operations. The purchase order for the mining equipment represents another key milestone in the development of the company’s Blackwater Mine project.

The primary load and haul fleet covered by the purchase order consists of Cat 6040 hydraulic excavators, a Cat 6060 hydraulic excavator and a fleet of Cat 793NG 250t haul trucks. This fleet will provide the load and haul capacity for the initial years of operations and will be expanded as needed.

Supporting the primary mining fleet will be an ancillary fleet consisting of Cat 992 front end loaders, Cat 785 haul trucks, Cat D10 dozers, Cat D9 dozers and 18M graders. The 992 front end loaders and Cat 785 haul trucks will be utilized in a support loading role including ore rehandle on the run of mine (ROM) pad and from the low-grade stockpile, whilst also providing flexibility to the operation for events such as tailings storage facility raises. Further, Artemis Gold has elected to configure the Cat 6040 hydraulic excavators in a backhoe configuration to provide optimal ore selectivity. Total value of the equipment is in the order of $134M.

Equipment deliveries to site are planned to commence late in Q4 2023 and continue throughout the first half of 2024, in preparation for the pre-strip-mining phase. Initial deliveries will include the Cat 6040 hydraulic excavators and the Cat 793NG haul trucks. The delivery of the ancillary fleet will be arranged around the primary mining fleet to ensure schedule commitments are met and workforce and craneage requirements are optimized throughout the assembly period. The entire fleet is expected be “shovel ready” during the second half of 2024 (“H2 2024”), to meet Artemis Gold’s operational readiness objectives.

As part of the envisaged future fleet expansion the company has the option to purchase Zero Emission1 haul trucks currently under development for shipments beginning in 2029. The transition to a zero-emission haulage fleet will substantially reduce the mine’s carbon footprint. That combined with the mine’s electrified processing facility and infrastructure will create the potential to achieve net-zero carbon emissions.

Steven Dean, Chairman and CEO of Artemis Gold commented, “The execution of the purchase orders for our primary and ancillary mining fleet provides schedule certainty and ensures we will have the equipment needed to operate Blackwater Mine when we need it. It is another milestone in our plans to develop the mine and prepare for operations in H2 2024.”

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All amounts are stated in Canadian Dollars unless otherwise noted.

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.

ARTEMIS GOLD INC.
On behalf of the Board of Directors

“Steven Dean”
Chairman and Chief Executive Officer
+1 604 558 1107

For further information

Investor Relations contact
Gerrie van der Westhuizen
Chief Financial Officer and Corporate Secretary
+1 (604) 558-1107

IBF4

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