Vancouver, British Colombia – July 15, 2021  – The Province of British Columbia and Artemis Gold Inc. (TSX-V: ARTG) (“Artemis” or the “Company”) are pleased to announce the approval of Mines Act Permit M-246 allowing for early construction works  at the Company’s Blackwater Gold project in Central British Columbia (“Blackwater” or the “Project”). The approval of the early works permit is the first step required for mine construction, allowing for the necessary site preparation and land clearing work to begin.

“Advancing the Blackwater Gold project from exploration to early work will help unearth the massive economic potential in B.C.’s Cariboo region,” said Premier John Horgan. “Mining and mineral exploration is a foundational part of B.C.’s economy and key to building a stronger and more sustainable British Columbia – one where everyone shares in our prosperity.”

The Blackwater mine is estimated to be the largest gold mine development project in the Cariboo region of B.C. in the last decade, supporting regional employment over 25 years, including the construction period, with the potential for that to be extended through further exploration. Blackwater is to be connected to the BC Hydro grid, which is powered by hydro-electricity providing it with a sustainable source of low-carbon power, with the potential to produce gold and silver with one of the lowest GHG emissions from an open pit in the world.

“We welcome the development of the new Blackwater gold and silver mine,” said Bruce Ralston, Minister of Energy, Mines and Low-Carbon Innovation. “It will create high earning, long-term jobs, advance Indigenous reconciliation, and supply some of the most responsibly mined gold and silver in the world, exemplifying British Columbia’s ESG advantage.”

An economic impact study completed by KPMG on the Blackwater Project in November 2020 anticipates the project will create 457 direct full-time jobs per year over the 23-year operating life of the mine, with 825 direct full-time jobs per year created during the construction/expansion phases of mine development. Additionally, the mine is expected to contribute $13.2 billion to the provincial economy, over the life of the mine, including $2.3 billion to provincial revenues.

Steven Dean, Artemis Chairman and CEO commented “We would like to thank the Government of British Columbia for prioritising this permit, the Lhoosk’uz Dene Nation and Ulkatcho First Nation, whose traditional territories overlap the mine property for continuing to demonstrate strong support, including during the permitting process, to advance the Blackwater Project forward on its path of becoming the next major new gold mine in British Columbia. The approval of the early works permit is another sign that British Columbia is open for business for responsible mineral exploration and development.”

The Province signed an Economic and Community Development Agreement with the Lhoosk’uz Dené and Ulkatcho First Nations to share mineral tax revenue in 2020. Prior to that, an impact benefits agreement was signed in 2019 with the Lhoosk’uz Dené and Ulkatcho First Nations for the Blackwater Project.  Since acquiring the Blackwater Project in 2020, Artemis continues to develop relationships with Indigenous partners, notably by signing an impact benefits agreement with the Nazko First Nation in May 2021 and ongoing negotiations with the Carrier Sekani First Nations on an impact benefits agreement. The development of the Blackwater Project has the potential to provide long-term economic benefits and Artemis is working with these Nations to bring training, business development and employment opportunities to each of the Nations’ communities while also advancing Indigenous reconciliation.

Chief Liliane Squinas of the Lhoosk’uz Dené Nation added “The Blackwater Gold project is in the heart of our traditional territory. We have been actively engaged in all aspects of the project – from mineral exploration, the Environmental Assessment, and now into Permitting. As partners with Artemis, we are excited about the employment, economic and business opportunities available to our Nation. We look forward to strengthening our relationship as we work through the rest of permitting process ensuring that the environmental commitments are met.”

Chief Lynda Price of the Ulkatcho First Nation added “The Ulkatcho First Nation is proud to be active participants in the Blackwater Gold Project, our community has been engaged in the project since its inception.  While we are in favour of the mine due to its economic benefits, as the traditional stewards of our land, our top priority is the environment. We look forward to working through the full permitting of the mine to ensure that the impacts to our Nation are properly mitigated so that all wildlife species such as caribou are protected, as they are so vital to our culture. This project has a large number of conditions attached to its Environmental Assessment Certificate, we will be sure that these are fully met through the permitting process.”

Mineral Exploration is a critical pre-cursor to mine development and operation. Last year, approximately $422M was invested in BC by exploration companies seeking to find the next Blackwater – the highest investment in the last decade.  This bodes well for the future of mining in BC.

The mineral exploration and mining sectors are key contributors to the provincial economy – creating more than 30,000 jobs, $9 billion in annual production value, and over $250 million in average annual mineral tax receipts. The mining sector is the largest private sector employer of Indigenous people in Canada.

ARTEMIS GOLD INC.
On behalf of the Board of Directors

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

For further information:

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