(Vancouver, February 24, 2021) – Artemis Gold Inc. (TSX-V: ARTG) (“Artemis” or the “Company”) is pleased to announce that it has submitted documents to Environment and Climate Change Canada to commence the Federal Schedule 2 amendment regulatory process (“Schedule 2 Process”) under the Metal and Diamond Mining Effluent Regulations (“MDMER”) in respect of its Blackwater Gold Project (“Blackwater” or the “Project”) in Central British Columbia.

About the Schedule 2 Amendment Process

As part of the final permitting phase for Blackwater, a listing on Schedule 2 of the MDMER by way of regulatory amendment is required.

An Environmental Assessment (“EA”) for the Project was approved by the Federal and BC governments in 2019. As part of the normal course of work forming part of the EA process, an objective and rigorous assessment of alternatives for mine waste disposal was completed to mitigate environmental risks. In addition, a fish habitat compensation plan was designed.  These two key elements have now been submitted to commence the formal regulatory amendment process.  

Given the extensive consultation and study undertaken as part of the EA approval, Artemis believes that Blackwater is eligible for a streamlined Schedule 2 amendment process. The shorter streamlined process does not diminish environmental protection but provides a more efficient regulatory system that aims to shorten the approval time to 5-6 months.  The standard regulatory amendment process typically takes 8-12 months.

Steven Dean, Chairman and CEO commented “The filing of the documents required to commence the Federal Schedule 2 regulatory process is the culmination of years of extensive work and consultation on alternatives for mine waste and a detailed compensation plan with respect to fish habitat around the Blackwater Gold project. With the Schedule 2 regulatory process underway, Artemis remains on track to have the required permits in place to begin major construction activities at the Blackwater Project in Q2 2022.”

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.