Vancouver, BC — December 16, 2025 — Leads & Copy — Artemis Gold Inc. (TSXV: ARTG) has received board approval for an expanded Phase 2 (EP2) development of the Blackwater Mine in central British Columbia. The EP2 will expand processing plant capacity from 8 Mtpa to 21 Mtpa before the end of 2028 and is conditional upon confirmation of adequate hydro-electricity supply from BC Hydro, expected in early 2026.
The company estimates the capital cost of EP2 will be $1.44 billion, funded primarily from operating cash flows. Once in production, the Blackwater Mine is expected to produce an average of 500,000 to 525,000 ounces of gold for the first 10 full years.
Early works for EP2 are set to commence in January 2026, with major works construction scheduled to begin in Q3 2026 and continue for approximately two years.
Artemis Gold CEO Dale Andres said the EP2 delivers on the company’s long-term vision and now is an opportune time to embark on this next phase of growth. Artemis Gold President Jeremy Langford commented that the decision to proceed with EP2 is another major milestone for the Company.
Contact:
Artemis Gold
Jeremy Langford
Source: Artemis Gold Inc.
