British Columbia Mining

[Lone Clone]

Artemis Gold Announces Results of Expansion Study for Blackwater Mine

https://www.newswire.ca/news-releases/artemis-gold-announces-results-of-expansion-study-for-blackwater-mine-843638753.html

Artemis Gold Inc. Feb 21, 2024, 17:53 ET

Study outlines opportunity to accelerate expansion; advancing a Tier 1 asset

All amounts in Canadian dollars except where otherwise noted

After-tax NPV of C$3.25 billion at long-term gold price of US$1,800 per ounce ("oz"), after taking into account repayment of Phase 1 Project Loan Facility ("PLF"), as well as the effect of the gold and silver streams
Greater than 500,000 gold equivalent ("AuEq") oz average annual production for first 10 years
Average all-in sustaining costs ("AISC") of US$712/oz gold for first 10 years, placing Blackwater in lowest decile of the global cost curve for gold mines
Average annual free cash flow of approximately C$500 million for first 10 years
Potential for mine life extension

VANCOUVER, BC, Feb. 21, 2024 /CNW/ - Artemis Gold Inc. (TSXV: ARTG)