Artemis Gold Reports AGM Voting Results

VANCOUVER, Aug. 10, 2023 - Artemis Gold Inc. (TSXV: ARTG) ("Artemis Gold" or the "Company") reports the voting results from its Annual General Meeting of shareholders (the "Meeting") held earlier today. Shareholders holding 147,332,393 shares or 74.54% of the outstanding shares of the Company were represented in person or by proxy at the Meeting and voted in favour of all matters brought before the Meeting.

The Company's shareholders set the number of directors of the Company for the ensuing year at seven.

All director nominees set out in the Management Information Circular dated June 16, 2023 (the "Circular"), were elected as directors, to serve until the next meeting of shareholders of the Company or until their successors are elected or appointed.

The Company's shareholders also appointed PricewaterhouseCoopers LLP as auditor of the Company for the ensuing year at a remuneration to be fixed by the directors.

The Company's shareholders also authorized, ratified, confirmed, and approved the Company's rolling omnibus equity incentive plan (the "Omnibus Plan").

The board of directors approved the Omnibus Plan on June 23, 2023, subject to receipt of shareholder approval at the Meeting.

Pursuant to the Omnibus Plan, the Company is entitled to grant stock options, restricted share units ("RSUs"), performance share units ("PSUs") or deferred share units ("DSUs") to eligible persons under the Omnibus Plan, with the number of common shares issuable thereunder, together with the number of common shares issuable under any other security-based compensation arrangements of the Company, not to exceed 10% of the total number of common shares outstanding from time to time. Subject to the terms of the applicable grants and the Omnibus Plan, the Company may, at its discretion, settle RSUs, PSUs or DSUs granted under the Omnibus Plan in either cash or equity.

As set out in the Circular, the Omnibus Plan replaces the Company's existing stock option plan (the Stock Option Plan) and existing cash settled share unit plan (the Share Unit Plan). Existing stock options granted under the Stock Option Plan and share units granted under the Share Unit Plan will continue to be governed by the terms thereof and no additional stock options or cash settled share units will be granted under such plans.

Under the policies of the TSX Venture Exchange, the Omnibus Plan must be approved on an annual basis by an ordinary resolution of the shareholders entitled to vote at such meeting.

Artemis Gold is a well-financed, growth-oriented gold development company with a strong financial capacity aimed at creating shareholder value through the identification, acquisition, and development of gold properties in mining-friendly jurisdictions. The company's current focus is construction of the Blackwater Mine project in central British Columbia approximately 160km southwest of Prince George and 450km northeast of Vancouver. The project is one of the largest capital investments in the Bulkley-Nechako, Fraser-Fort George and Cariboo regions of B.C. in the last decade. The first pour of gold and silver from Blackwater Mine is expected H2 2024 and the mine is expected to be in production for a minimum of 22 years. Artemis Gold trades on the TSX-V under the symbol ARTG. For more information visit www.artemisgoldinc.com.

On behalf of the Board of Directors

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

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.

This press release contains certain forward-looking statements and forward-looking information as defined under applicable Canadian and U.S. securities laws. Statements contained in this press release that are not historical facts are forward-looking statements that involve known and unknown risks and uncertainties. Any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. In certain cases, forward-looking statements and information can be identified using forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans", "potential" or similar terminology. Forward-looking statements and information are made as of the date of this press release, and include, but are not limited to, statements regarding the potential of the Blackwater mine project; the jobs to be created in connection with the project; the contribution of the project to the economy; opinions of the Province of British Columbia regarding the project and the region; agreements and relationships with Indigenous partners; the future of mining in British Columbia; the plans of the Company with respect to the project, including construction, site preparation, clearing, consultation with indigenous groups, and other plans and expectations of the Company with respect to the project.

These forward-looking statements represent management's current beliefs, expectations, estimates and projections regarding future events and operating performance, which are based on information currently available to management, management's historical experience, perception of trends and current business conditions, expected future developments and other factors which management considers appropriate. Such forward-looking statements involve numerous risks and uncertainties, and actual results may vary. Important risks and other 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 development of the project within the expected timing or at all, the timing and receipt of certain required approvals, changes in commodity prices, changes in interest and currency exchange rates, risks inherent in exploration estimates and results, risks inherent in exploration and development activities, 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 or third party contractors, delays in the receipt of government approvals, industrial disturbances, job action, and unanticipated events related to heath, safety and environmental matters), changes in governmental regulation of mining operations, political risk, social unrest, changes in general economic conditions or conditions in the financial markets, and other risks related to the ability of the Company to proceed with its plans for the project and other risks set out in the Company's most recent MD&A, which is available on the Company's website at www.artemisgoldinc.com and on SEDAR at www.sedar.com.

In making the forward-looking statements in this press 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) any necessary approvals and consents in connection with the development of the project will be obtained; (3) financing for the development, construction and continued operation of the project will continue to be available on terms suitable to the Company; (4) sustained commodity prices will continue to make the project economically viable; and (5) there will not be any unfavourable changes to the economic, political, permitting and legal climate in which the Company operates. Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause the actual results or performance by the Company to differ materially from those expressed in, or implied by, any forward-looking statements. 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. Investors should therefore not place undue reliance on forward-looking statements. 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 because of new information, future events or otherwise, except as may be required under applicable securities laws.

SOURCE Artemis Gold Inc.