Artemis Gold Announces Q1 2026 Production Results

• Artemis Gold reported Q1 2026 gold production of 61,923 oz from the Blackwater Mine.
• Full-year 2026 production guidance remains unchanged at 265,000–290,000 oz despite a 7-day unplanned mill shutdown in March.
• Mill recovery reached a record 90.6%, up from 88.1% in Q4 2025.
• Management reaffirmed confidence in funding Phase 1A and Expanded Phase 2 expansions from operating cash flow, targeting >500,000 oz annual production by end-2028.
• The company plans to announce Q1 financial results on May 6, 2026.

• Guidance Validation: Maintaining full-year guidance after a significant operational disruption (gearbox failure) confirms management's ability to mitigate downtime risks and meet targets.
• Operational Efficiency: Record mill recovery of 90.6% offsets the throughput loss from the shutdown, demonstrating technical optimization progress.
• Financial Discipline: Reiteration that expansions are funded by operating cash flow reduces dilution risk for shareholders, supporting the valuation thesis established in Q4 2025 and Jan 2026 financing news.
• Market Expectation: The guidance maintenance was already communicated during the March shutdown announcement; therefore, this release is a confirmation rather than new information, limiting immediate upside surprise.

• Company: Artemis Gold Inc., focused on the Blackwater Mine in British Columbia, Canada.
• Flagship Project: Blackwater Mine is a fully integrated open-pit gold mine with processing capacity currently ramping up to 17,700 t/d (107% of design).
• Expansion Strategy:
  • Phase 1A: Increase capacity to 8 Mtpa by Q4 2026 ($95–$100M capex).
  • Expanded Phase 2 (EP2): Target >500,000 oz/yr by end-2028 with 21 Mtpa throughput ($1.44B total cost).
• Resource Base: Measured & Indicated resources of 11.7 Moz Au and 122.4 Moz Ag as of May 2025.