Artemis Gold Inc. Announces Blackwater Mine Officially Open

Published: 2025-05-31 13:35:22 ET ARTG.V

Published on 05/31/2025 at 13:35

Artemis Gold Inc. announced that Blackwater Mine, Canada's newest gold and silver mine, was officially opened in a ceremony at the mine site on May 30, 2025. B.C. Premier David Eby, along with Jagrup Brar, Minister of Mining and Critical Minerals, Acting Chief June Baptiste of the Lhoosk'uz Dene Nation, and Chief Charlie Williams (represented) of Ulkatcho First Nation, attended the event. Jagrup Brar, Minister the Mining and Critical minerals of B.C. The development of the Blackwater project will provide long term employment for members and economic opportunities for Nation.

The company remain committed to achieving the higher standard of environmental practice at all stages of development, along with Artemis and Ulkatcho First Nation. collaboration on this important mining project is a testament to what can be accomplished when respect, partnership, and communities lead the way. The company extend gratitude to Artemis Gold for choosing to invest in lands and in a future that will benefit Ulkatcho First Nation for many years.

Chanalya. Blackwater Mine was built in an industry leading 22 months. The Company received the BC Mines Act permit in March of 2023.

Construction was completed and first gold pour occurred in January of this year, and earlier this month, the Company announced that it had achieved commercial production. The mine is the larger resource development project in the Cariboo region of B.C. in more than a decade and will support regional employment over multiple decades with the potential to be extended through further exploration. Construction of phase 1 was completed earlier this year and a decision about accelerating the phase 2 expansion of the mine will be made later this year.

Since 2022, the Company's cash spend with Canadian contractors and service providers to build Blackwater Mine was approximately CAD 1 billion, with over CAD 700 million of that amount spent in B.C. and over CAD 300 million with local and Indigenous companies, in a region that has seen devastating closures and curtailments in the forestry industry. This provides the foundation for Blackwater Mine to be developed into one of the lowest greenhouse gas emitting open pit mining operations in the world.