Mr. Steven Dean reports

ARTEMIS GOLD INITIATES GOLD HEDGING PROGRAM FOR BLACKWATER

Artemis Gold Inc. has initiated a gold hedge program for the company's Blackwater mine project by entering into gold-forward sales agreements to deliver 100,000 ounces of gold bullion between March, 2025, and December, 2027, at a weighted average sales price of $2,836 per gold ounce.

Steven Dean, chairman and chief executive officer of Artemis Gold, commented: "The initiation of a modest gold hedge program is a prudent and important step in underwriting the returns on capital invested in the early years of operations of the Blackwater mine. The effective price on the first 100,000 gold ounces is at or near historic highs and approximately 40 per cent higher than the gold price assumption used in our September, 2021, feasibility study. Hedging these ounces is also a risk management tool to further derisk servicing of the company's bank debt funding for the development of the mine."

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. The company's technical report for the Blackwater mine entitled "Blackwater Gold Project, NI 43-101 Technical Report on Updated Feasibility Study" with an effective date of Sept. 10, 2021, is available on the company's profile on SEDAR.

We seek Safe Harbor.