Artemis Gold Inc.

Artemis Gold Inc. is a mid-tier gold and silver producer headquartered in Vancouver, Canada, operating primarily in Canada. The company's portfolio consists of 1 development project. Key assets include Blackwater. The company's business model is centered on a technically driven, staged approach to asset development, aiming to unlock unrealized potential while managing risk and minimizing initial capital costs. Operational capabilities are designed around a conventional processing flowsheet that includes a primary gyratory crusher, a secondary and tertiary crushing circuit, and a single-stage ball mill operating in a closed circuit. The recovery process utilizes gravity concentration followed by a carbon-in-leach (CIL) circuit, pre-aeration with pure oxygen, and cyanide destruction. The operational design accommodates a multi-phased expansion, engineered to scale throughput capacity sequentially from 6 Mtpa to 15 Mtpa and ultimately to 25 Mtpa. This approach allows for methodical ramp-up and operational optimization over the asset's life. The business relies on specialized knowledge in geology, metallurgy, permitting, and mine operations to execute its development plans. The enterprise competes with numerous other entities, including those with greater resources, in the acquisition and development of mineral properties.

The organization's core strategy revolves around a disciplined, phased development model designed to de-risk its primary asset and optimize shareholder returns by funding subsequent growth from internal cash flow. A key component of this financial strategy is the use of hedging instruments, including forward sales contracts and collars, to secure returns and manage commodity price risk during the initial years of operation and debt servicing. The company's stated mission is to create sustainable value by applying differentiated and technically excellent approaches to managing mining assets. Long-term growth is predicated on the ability to expand and replace mineral reserves through successful development and exploration. Management also evaluates and pursues strategic acquisitions and joint ventures that align with its technical expertise and disciplined development philosophy. This approach is exemplified by the foundational acquisition of its principal property, which formed the basis for its current development focus.

Executive leadership is directed by a Chairman and CEO with extensive experience, including service as a director and chairman for other publicly listed resource companies. The board of directors consists of 10 members, with governance oversight managed through 4 specialized committees: Audit; Nominating and Corporate Governance (NCGC); Compensation; and Health, Safety, Environment and Social Performance (HSES). The Audit Committee is composed of 3 independent and financially literate directors, while the NCGC also comprises 3 independent members responsible for board composition and governance matters. A formal Board Diversity Policy guides director selection and requires any engaged search firm to present diverse candidates. The company's governance framework mandates that directors and officers disclose and manage potential conflicts of interest arising from their involvement with other entities, in accordance with corporate law and internal policies. Officers are appointed by the board and hold their positions based on terms determined by the board.

The company's sustainability framework is anchored by a corporate ESG policy, a formal Code of Conduct, and a commitment to responsible development. A key environmental initiative is the elimination of hydrocarbons from the processing plant, which is designed to run on renewable grid power. The organization has established agreements with primary Indigenous Groups and maintains a policy of fostering relationships built on trust and respect. Environmental oversight is executed through a comprehensive management system, which includes detailed plans for water management, reclamation, and offsetting potential impacts to fish habitat, wetlands, and wildlife, as required by federal and provincial authorizations. Board-level oversight is provided by a dedicated Health, Safety, Environment and Social Performance (HSES) Committee. The company has also implemented a Board Diversity Policy to ensure a broad range of perspectives and backgrounds is considered for board appointments, reinforcing its commitment to inclusive governance.

The company was incorporated in 2019 and became a public entity following a spin-out from Atlantic Gold Corporation as part of that entity's acquisition by St Barbara Limited. This formative transaction included an indemnity agreement provided by the company to its former parent. The organization's principal asset was acquired from New Gold Inc. in 2020 and is held through its wholly-owned subsidiary, BW Gold Ltd. The corporate and capital structure is materially influenced by financing arrangements, including a Gold Stream Agreement and a Silver Stream Agreement with a streaming company, which were amended in 2023 and 2025. Additional structural agreements include a project loan facility with a syndicate of lenders, an equipment lease facility with Caterpillar Financial Services Limited, and a stand-by debt facility. In 2024, a material legal proceeding was initiated by Sedgman Canada Ltd. concerning the engineering, procurement, and construction contract, to which the company has filed a counterclaim.