Artemis Gold Inc · TSXV:ARTG
Artemis Gold — Q2 2025 Earnings Presentation
20 slides from Artemis Gold's earnings presentation, Aug 13, 2025
Slide 1: Q2 2025 Results Conference Call
TSX-V: ARTG | artemisgoldinc.com Q2 2025 Results Conference Call AUGUST 13, 2025
Slide 2: Cautionary Note Regarding Forward-Looking Information
Cautionary Note Regarding Forward-Looking Information 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-look
Slide 3: On Today's Call
On Today’s Call STEVEN DEAN DALE ANDRES JEREMY LANGFORD Executive Chair Chief Executive Officer & Director President GERRIE VAN DER WESTHUIZEN CANDICE ALDERSON ERIK MARCHAND MEG BROWN Chief Financial Officer and Chief ESG Officer VP Finance VP Investor Relations Corporate Secretary 3
Slide 4: Q2 2025 Operating Highlights
Q2 2025 Operating Highlights Q2 production of 50,623 oz gold, including 34,824 oz in May and June PRODUCTION YTD production of 63,343 oz gold Mill throughput ramped up during the quarter, reaching 102% of nameplate OPERATIONS capacity in the month of June at 16,738 tonnes per day Gold recoveries at
Slide 5: Q2 2025 Financial Highlights
Q2 2025 Financial Highlights Revenue of $231.1 million Q2 FINANCIALS Adjusted EBITDA1 $146.4 million Net income $100.2 million ($0.43 per share fully diluted) Cash flow from operating activities $185.1 million Average realized gold price of C$4,578/oz in the post-commercial production period1 Cash c
Slide 6: 2025 – A Transformative Year for Artemis Gold
2025 – A Transformative Year for Artemis Gold Transition from development to Low-cost production in a production – construction complete record gold price environment in 22 months; commercial production leading to strong cash flow and just three months after first gold pour financial flexibility Opt
Slide 7: Blackwater Mine: Canada's Newest Operating Gold & Silver Mine
Blackwater Mine: Canada’s Newest Operating Gold & Silver Mine British Columbia hosts industry leading, best-in-class ESG “The reason for the interest in investment in B.C. Located in British Columbia, a Tier 1 jurisdiction is the stable investment climate, when you get • Moderate climate; year-round
Slide 8: Mine Opening Celebrations
EZ Mine Opening Celebrations ARTEMIS
Slide 9: $700M Revolving Credit Facility – Terms
$700M Revolving Credit Facility – Terms On August 12, 2025, the Company executed a credit-approved commitment letter and term sheet with National Bank, one of its existing PLF lenders, to underwrite a revolving credit facility of $700 million (the RCF) The Company expects to utilize the RCF to disch
Slide 10: 2025 Guidance – On Track to Deliver
2025 Guidance – On Track to Deliver Production – a solid start; guidance maintained • Full-year 2025 guidance range is maintained at 190,000 to 230,000 ounces of gold, including 160,000 to 200,000 ounces during the post-commercial production period1 Costs – guidance maintained Blackwater AISC1 benef
Slide 11: Meaningful and Near-term Organic Growth Opportunities
Meaningful and Near-term Organic Growth Opportunities ➢ Phase 1 asset optimization - targeting 10% above design throughput by end of 2025 • Productivity improvements, cost discipline and margin enhancement ➢ Evaluating near-term expansion options – decision expected before end of 2025 • Acceleration
Slide 12: Substantial Exploration Upside
Substantial Exploration Upside Multi-decade geologic potential including near-mine resource expansion and regional targets The Blackwater deposit remains open to the north and northwest, and at depth in the south 1,490 sq km land package, largely under-explored • Over 30 identified targets within tr
Slide 13: Driving Near-term Growth Opportunities / Questions?
Driving Near-term Growth Opportunities Uniquely well Solid start to Strong inaugural Robust balance sheet Continued focus on positioned in one of the operations; already financial results in post- and solid foundation for building value for our world’s best and lowest- performing above commercial pr
Slide 14: Appendix
TSX-V: ARTG | artemisgoldinc.com Appendix
Slide 15: Q2 2025 Operating Results
Q2 2025 Operating Results Operating Results Units May 1–June 30, 2025 (post-commercial production) Ore mined tonnes 4,816,820 Waste mined tonnes 2,404,651 Strip ratio waste/ore 0.50 Total mined tonnes 7,221,471 Milled tonnes 988,588 Milled tonnes per day 16,206 Gold grade grams per tonne 1.34 Gold r
Slide 16: Q2 2025 Select Financial Information
Q2 2025 Select Financial Information Select Financial Information Q2 2025 Q2 2024 YTD 2025 YTD 2024 ($000s except per share information) Revenue 231,064 - 272,131 - Cost of sales Production costs (55,386) - (63,938) - Depreciation and depletion (7,791) - (8,458) - Gross profit 167,887 - 199,735 - Ge
Slide 17: Blackwater – Substantial Upside
Blackwater – Substantial Upside Blackwater offers substantial upside to higher gold prices and exchange rates February 2024 Expansion Study Technical Report delivered after-tax NPV5% of C$3.2B at a base case gold price assumption of US$1,800/oz gold and CAD:USD exchange rate of 0.74 Every increase o
Slide 18: 2024 Expansion Study Summary by Phase
2024 Expansion Study Summary by Phase US$1,800/oz long-term gold; 0.74 CAD:USD Phase 1 Phase 2 Phase 3 Stockpile Phase LOM Years 1-2 3-6 7-15 16-17 17 Growth capital1, 2 $53m $592m $852m n/a $1,497m Sustaining capital2 $140m $457m $498m $28m $1,122m Throughput capacity (Mtpa) 6.0 15.0 25.0 25.0 Vari
Slide 19: Mineral Resource Estimate for Blackwater
Mineral Resource Estimate for Blackwater Measured & Indicated Mineral Resource Estimate (Effective May 5, 2020) Grades Metal Cutoff Tonnage AuEq Au Ag AuEq Au Ag Classification (AuEq Notes: (ktonnes) (g/t) (g/t) (g/t) (koz) (koz) (koz) g/t) 1. The Mineral Resource estimate was prepared by Sue Bird,
Slide 20: Mineral Reserve Estimate for Blackwater
Mineral Reserve Estimate for Blackwater Proven & Probable Mineral Reserve Estimate (Effective August 18, 2020) Notes: 1. The Mineral Reserve estimates were prepared by Marc Schulte, P.Eng., an MMTS employee, and have an effective date of September 10, 2021. 2. Mineral Reserves are reported using the