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ARTEMIS ORDERS CONSTRUCTION FLEET

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FINANCING NEWS


ARTEMIS ORDERS CONSTRUCTION FLEET

ARTEMIS ORDERS CONSTRUCTION FLEET
Canada NewsWire
VANCOUVER, BC, Feb. 21, 2023

Trading Symbol: TSX-V: ARTG
ARTEMIS IN FINAL PREPARATIONS FOR COMMENCEMENT OF MAJOR WORKS AT THE BLACKWATER
PROJECT
ARTEMIS PROVIDES CORPORATE UPDATE
VANCOUVER, BC, Feb….


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Published

1 day ago

on

February 21, 2023


ARTEMIS ORDERS CONSTRUCTION FLEET

Canada NewsWire

VANCOUVER, BC, Feb. 21, 2023

Trading Symbol: TSX-V: ARTG

ARTEMIS IN FINAL PREPARATIONS FOR COMMENCEMENT OF MAJOR WORKS AT THE BLACKWATER
PROJECT

ARTEMIS PROVIDES CORPORATE UPDATE

VANCOUVER, BC, Feb. 21, 2023 /CNW/ – Artemis Gold Inc. (TSXV: ARTG) (“Artemis”
or the “Company“) is pleased to provide various updates on its site activities
at the Company’s Blackwater project (“Blackwater“) and corporate head office.

Blackwater Construction Fleet Ordered

The Company has executed an order with Finning (Canada), a division of Finning
International Inc. (TSX: FTT) for the construction equipment reqSuired for the
execution of the owner-performed scope of major works construction activities.
The initial construction fleet is expected to be delivered in early Q2 2023 and
will be composed of a variety of mining support equipment, including excavators,
backhoe loaders, compactors, graders, telehandlers, as well as fuel and water
trucks, and will be further expanded throughout the construction period.

Supplementary rental equipment will be used in the interim to support the
initial construction fleet until the primary mining fleet is delivered to site
in preparation for the commencement of mine pre-stripping activities.
Preliminary work activities will focus on development of site infrastructure
including access roads, water management structures, mine haul roads, and
commencement of tailings dam construction.

Plant Site Preparation on Schedule

The plant site preparation is well advanced with the majority of the bulk earth
works completed, including contractor laydown and batch plant areas. Both areas
are ready for handover to the Engineering, Procurement and Construction
contractor (Sedgman Canada Limited or “Sedgman“) upon Sedgman’s mobilization to
Blackwater.

Meanwhile, construction activities have expanded to focus on water management in
readiness for spring breakup, including completion of the sediment and erosion
control pond.

The process plant site  area remains on track to be completed before the start
of major works construction, which is expected to commence shortly following the
receipt of the BC Mines Act Permits.

Figure 1: Blackwater Project Plant Site Area Q1-2023 (Looking West)



Source: Artemis Gold Inc.

Construction Camp Installation

Work on the construction camp is proceeding on schedule with 150 rooms and
kitchen facilities on track to be ready for occupation by the end of February,
with the remaining rooms to be furnished and ready for occupation in March 2023,
bringing the total camp capacity to 477 beds to meet the full complement needed
for the duration of the construction period.

Figure 2: Blackwater Project New Construction Camp Area Q1-2023 (Looking South)



Source: Artemis Gold Inc.

Preferred Construction Support Service Partners Selected

To further support preparations for the commencement of major works
construction, the Company has also selected preferred partners to provide
security, supply fuel and related products, as well as explosives and related
services. The Company expects to finalize negotiations for these and other key
contracts with a view to executing binding agreements following receipt of the
BC Mines Act Permit.

New Additions to Artemis Management Team

Artemis is also pleased to announce the appointments of Emily Schwede as Vice
President, Legal and Peter Rawlins as Vice President, Treasurer. Emily Schwede
brings over 20 years of legal experience to her role. Most recently, she held
the position of Director, Legal Affairs at SNC Lavalin Inc. where she was
involved in all legal and commercial aspects of major projects from pre-bid to
proposals to the execution and operational phases. Peter Rawlins brings deep
experience in treasury, debt management and financial markets. He joins Artemis
from CIBC where he worked for 19 years, most  recently as Managing Director of
CIBC Capital Markets, Global Mining and Forest Products. During this time,
Peter’s focus has been on negotiating and executing various financing structures
including project finance, corporate debt, streams and risk management
strategies such as hedging.

Steven Dean, Chairman and CEO commented, “As the bulk earthworks activities for
the Blackwater process plant nears completion, and in anticipation of receipt
the of the BC Mines Act Permits for Blackwater, we are preparing our team and
making the necessary preparations with our preferred partners to secure the
supply of equipment, materials and services in order to be shovel-ready for the
commencement of major works construction. The addition of Emily and Peter
further strengthens the Artemis Management team as we continue to advance our
Tier One asset base.” 

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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This news release contains certain “forward looking statements” and certain
“forward-looking information” as defined under applicable Canadian and U.S.
securities laws (together, “forward-looking statements“). Forward-looking
statements can generally be identified by the use of forward-looking terminology
such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”,
“continue”, “plans”, “potential” or similar terminology. Forward-looking
statements in this news release include, but are not limited to, statements and
information related to the plans of the Company regarding the Project and other
statements regarding future plans, expectations, guidance, projections,
objectives, estimates and forecasts, as well as statements as to management’s
expectations with respect to such matters.

Forward-looking statements and information are not historical facts and are made
as of the date of this news release. These forward-looking statements involve
numerous risks and uncertainties and actual results may vary. Important factors
that may cause actual results to vary include without limitation, risks related
to  the ability of the Company to accomplish its plans and objectives with
respect to the Project within the expected timing or at all; the timing and
receipt of certain approvals, changes in commodity and power prices, changes in
interest and currency exchange rates, risks inherent in exploration estimates
and results, timing and success, inaccurate geological and metallurgical
assumptions (including with respect to the size, grade and recoverability of
mineral reserves and resources), changes in development or mining plans due to
changes in logistical, technical or other factors, unanticipated operational
difficulties (including failure of plant, equipment or processes to operate in
accordance with specifications, cost escalation, unavailability of materials,
equipment and third party contractors, delays in the receipt of government
approvals, industrial disturbances or other job action, and unanticipated events
related to health, safety and environmental matters), political risk, social
unrest, and changes in general economic conditions or conditions in the
financial markets. In making the forward-looking statements in this news
release, the Company has applied several material assumptions, including without
limitation, the assumptions that: (1) market fundamentals will result in
sustained mineral demand and prices; (2) the receipt of any necessary approvals
and consents in connection with the development of any properties; (3) the
availability of financing on suitable terms for the development, construction
and continued operation of any mineral properties; and (4) sustained commodity
prices such that any properties put into operation remain economically viable.
The actual results or performance by the Company could differ materially from
those expressed in, or implied by, any forward-looking statements relating to
those matters. Accordingly, no assurances can be given that any of the events
anticipated by the forward-looking statements will transpire or occur, or if any
of them do so, what impact they will have on the results of operations or
financial condition of the Company. Except as required by law, the Company is
under no obligation, and expressly disclaims any obligation, to update, alter or
otherwise revise any forward-looking statement, whether written or oral, that
may be made from time to time, whether as a result of new information, future
events or otherwise, except as may be required under applicable securities laws.





SOURCE Artemis Gold Inc.

financing
tsxv-artg
artemis-gold-inc
artemis gold inc
press-release


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