Artemis Gold Inc · TSXV:ARTG
Artemis Gold — Q3 2025 Earnings Presentation
15 slides from Artemis Gold's earnings presentation, Nov 5, 2025
Slide 1: Q3 2025 Results Conference Call
TSX-V: ARTG | artemisgoldinc.com Q3 2025 Results Conference Call NOVEMBER 5, 2025
Slide 2: Forward Looking and Cautionary Statements
Forward Looking and Cautionary Statements This presentation 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 stateme
Slide 3: On Today's Call
On Today’s Call STEVEN DEAN DALE ANDRES JEREMY LANGFORD TONY SCOTT Executive Chair Chief Executive Officer & Director President Chief Business Development Officer GERRIE VAN DER WESTHUIZEN CANDICE ALDERSON ERIK MARCHAND MEG BROWN Chief Financial Officer and Chief ESG Officer VP Finance VP Investor R
Slide 4: Q3 2025 Operating Highlights
Q3 2025 Operating Highlights Plant operating at design capacity; grades and recoveries trending higher OPERATING RESULTS: Total post- Select Operating May and Q3 2025 commercial • AISC2 margin of US$2,374/oz or 72% of cash revenue Metrics June 2025 production • Production of 60,985 oz gold, up from
Slide 5: Mine Operating Improvements
Mine Operating Improvements Mine operations are performing above plan Mined tonnes exceeding plan, focus is on productivity and continuous improvement • Short interval control with real-time fleet monitoring • Consistent operating practices and reducing delays 2025 Monthly Mined Tonnes (Mt) 4.0 3.0
Slide 6: Mill Operating Improvements
Mill Operating Improvements Focus has evolved from initial ramp-up to operational stability and optimization Advancing productivity and operating improvements in the mill • Mill reliability • First full ball mill reline completed in October • Reducing unplanned downtime through maintenance strategie
Slide 7: 2025 Guidance – AISC Revised; Lowest Decile
2025 Guidance – AISC2 Revised; Lowest Decile Production guidance (190,000-230,000oz of gold) Original guidance maintained, but expect in the lower half of the range Costs – guidance revised Post-commercial production1 AISC2 increased to US$825-US$875 per oz of gold sold, up from US$670-US$770 per ou
Slide 8: Q3 2025 Financial Highlights
Q3 2025 Financial Highlights Industry-leading AISC margin; generating strong and steady cash flows Select Financial Information Earnings Drivers: ($000s except ounces sold and per share Q3 2025 YTD 2025 Q2 2025 information) • 27% increase in gold ounces sold Gold ounces sold 62,863 121,916 49,517 •
Slide 9: Financial Highlights: Balance Sheet Strengthened
Financial Highlights: Balance Sheet Strengthened Refinanced project debt during Q3 2025; now focused on building cash for expansion Paid down $67M of debt during Q3 2025 Restructured term Project Loan Facility into RCF $75 M • Improved terms and greater flexibility • Closed $700M RCF in September To
Slide 10: Capital Projects – Building for the Future
Capital Projects – Building for the Future Key Phase 1 deferred capital projects in 2025 15 metre lift on tailings dam • In preparation for Phase 1A and Phase 2 • Alternative sourcing of construction materials required Ore stockpile construction • Additional capacity required earlier due to waste co
Slide 11: Progressing Near-term Organic Growth Opportunities
Progressing Near-term Organic Growth Opportunities Phase 1 asset optimization – above design throughput in Q3, targeting 10% above by the end of 2025 Phase 1A step change – construction started in September, increasing plant throughput to 8Mtpa by Q4 2026 Optimized and accelerated Phase 2 expansion
Slide 12: Phase 1A – A Capital Efficient Step Change Opportunity
Phase 1A – A Capital Efficient Step Change Opportunity Nameplate plant capacity 33% Capital cost Industry low capital intensity 6Mtpa 8Mtpa Q3 2025 Q4 2026 in nameplate capacity $100-$110M <$55 per tonne of annual throughput New Aeration Tank – Rebar Installation Phase 1A will be funded through oper
Slide 13: Phase 2 – Optimized and Accelerated Expansion
Phase 2 – Optimized and Accelerated Expansion Front End Engineering and Design (FEED) for a larger Phase 2 progressing on schedule, with early works set to commence in Jan 2026 Orders placed for new 18MW SAG & ball mills • New ball mill is fully fabricated • Derisking long lead procurement of key co
Slide 14: Regional Exploration Program – Highly Prospective District
Regional Exploration Program – Highly Prospective District • Land package of 1,490 sq km prospective for multiple deposit types • Over 30 targets identified within trucking distance of the Blackwater mine • Regional exploration drilling began in October 2025 • Initial $5 million program; 15,000 - 25
Slide 15: Q3 Summary / Q4 Priorities
Q3 Summary / Q4 Priorities Solid Q3 results – Operating above nameplate capacity; continuing to optimize plant and cost performance Robust balance sheet – Growing cash balance and strong liquidity Strong AISC margins – Industry-leading Q3 AISC margin of US$2,374 per oz Phase 1A – engineering and con