Artemis Gold Reports Q3 2026 Production Results in Line with Guidance

Artemis Gold Inc. (TSXV: ARTG) released third-quarter 2026 production results for its Blackwater Mine at 17:00 ET on October 13, 2026. The company reported Q3 gold production of 69,546 oz, representing a 14% increase compared to the 60,985 oz produced in the same quarter of 2025. Year-to-date production through the third quarter stands at 205,532 oz. Artemis maintains its full-year guidance of 265,000–290,000 oz, stating it remains on track to meet the target.

During the quarter, the process plant milled 1.48 million tonnes of ore at an average feed grade of 1.55 g/t Au, achieving an overall recovery rate of 90%. The company noted that ongoing debottlenecking efforts, including contractor rectification work on leach-circuit tanks, are scheduled for completion ahead of Phase 1A commissioning in December 2026. Phase 1A, which is designed to increase throughput by 33% to 8 million tonnes per annum, is now 77% complete. This marks an increase from the 57% completion level reported in the August 4, 2026 update, with the project on track for completion in the fourth quarter of 2026.

Construction of major works for the Expanded Phase 2 (EP2) is progressing as planned. Artemis stated that the combined expansions are expected to triple processing capacity and support annual gold production of more than 500,000 oz in 2029. The release included comments from CEO Dale Andres regarding throughput, guidance, and the expansion projects. Qualified person sign-off was provided by Tony Scott, P.Geo., Chief Business Development Officer. The company indicated that revenue, cost, AISC, and cash-flow figures will be included in the Q3 2026 financials, scheduled for release on November 4, 2026.

Artemis Gold Inc. (ARTG) released production volumes and expansion progress percentages without providing revenue, AISC, margin, or cash-flow data. The company’s third-quarter output of 69,546 oz was 6.1% below the Q2 2026 record of 74,063 oz. While the release characterized the quarter as "strong" by highlighting a 14% year-on-year increase against Q3 2025’s 60,985 oz, the sequential decline represents the more significant operational metric.

The guidance arithmetic suggests a challenging path for the remainder of the year. To meet the low end of the 265,000 oz annual target, Q4 2026 requires 59,468 oz, a 14.5% decline from Q3. Hitting the midpoint of 277,500 oz would necessitate 71,968 oz in Q4, a 3.5% quarter-over-quarter increase. Achieving the high end of 290,000 oz would require 84,468 oz in Q4, a 21.5% increase that exceeds any quarter the mine has ever produced. Consequently, the realistic landing zone appears to be between 265,000 and 280,000 oz.

Market reaction to the in-line production print was muted. ARTG closed at C$38.12 on October 13, down from C$38.94 on October 9 and C$41.00 on September 18, the last close before the Vista announcement. The stock has declined 15.3% from its August 27, 2026 high of C$45.01.

Three potential catalysts remain ahead over the next six months: the November 4 AISC print, the December Phase 1A commissioning, and the Q1 2027 reserve and guidance update.

Artemis Gold Inc. (ARTG) trades on the TSX Venture Exchange under the ticker ARTG and on the OTCQX under ARGTF. The company’s flagship asset is the Blackwater Mine in central British Columbia, located approximately 160 km southwest of Prince George and 450 km northeast of Vancouver. The mine is scheduled to begin its first gold and silver pour in January 2025, with commercial production declared for May 1, 2025.

Blackwater is an open-pit operation with a current nameplate plant capacity of 6 Mtpa. The company plans to expand capacity to 8 Mtpa via Phase 1A in the fourth quarter of 2026 at a cost of C$120M, and to 21 Mtpa via Expanded Phase 2, which is targeted for completion before the end of 2028 at a cost of C$1.44B. These expansions represent a 250% throughput increase and aim to create a targeted producer of more than 500,000 oz/yr of gold. Once the Mt Todd project is developed, the company outlines a pathway to more than 1 million ounces per year of annual gold production.

The land package encompasses approximately 1,490–1,500 km² around Blackwater, featuring more than 30 ranked regional drill targets and a 15,000–25,000 m regional exploration program. Additional resources within a US$2,000/oz pit shell include Measured and Indicated resources of 156 Mt at 0.64 g/t Au for 3.21 moz, offering low-capital brownfield optionality.

Artemis is also pursuing the acquisition of the Mt Todd gold project in the Northern Territory, Australia, through an all-share acquisition of Vista Gold Corp. Mt Todd holds approximately 9.1 moz of Measured and Indicated resources and 1.4 moz of Inferred resources. The project is permitted for 50,000 tpd and features paved road, rail, gas pipeline, and freshwater reservoir infrastructure. It is a large-tonnage, low-grade (0.83 g/t) development asset carrying a future multi-billion-dollar capital requirement that Artemis has explicitly deferred until after Expanded Phase 2 is in full production.

The company operates in British Columbia and, post-close, the Northern Territory, Australia, both considered Tier 1 jurisdictions. The Blackwater mill is hydro-powered via BC Hydro, resulting in zero Scope 1 emissions from electricity. The company reports strong social licence, with roughly 40% local and 25% Indigenous workforce representation, 79% regional support in a Q4 2025 survey, and more than 8 million hours worked without a lost-time incident.

A discrepancy exists in the provided investor deck regarding management titles. The deck names Steven Dean as Founder & Executive Chair, Jeremy Langford as CEO, and Dale Andres as a director. However, every news release from May 2026 onward, including this one, identifies Dale Andres as CEO and Jeremy Langford as President. The deck's management table should be treated as stale or mislabelled.