Artemis Gold Inc · TSXV:ARTG
Artemis Gold — Investor Presentation (November 2026)
39 slides from Artemis Gold's investor presentation, November 2026
Slide 1: Industry-leading Growth in a Tier 1 Jurisdiction
TSXV: ARTG | artemisgoldinc.com Industry-leading Growth in a Tier 1 Jurisdiction NOVEMBER 2026
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 presentation that are not historical facts are forward-looki
Slide 3: Robust Investment Thesis
Robust Investment Thesis Building a low-cost >500,000 oz per year producer by end of 2028 High-quality, long-life asset in a Tier 1 jurisdiction Delivering on a consistent strategy Further growth and district potential at Blackwater Centred around disciplined capital allocation, including progressiv
Slide 4: Industry-leading Growth Profile, Disciplined Project Delivery
Industry-leading Growth Profile, Disciplined Project Delivery Building a >500,000 oz per year producer by end of 2028, with a pathway to one million ounces Blackwater Mt Todd Staged expansions at Blackwater funded through operating cash flow Meaningful and near-term organic growth ONGOING DEC 2026 –
Slide 5: Shareholder Return Framework Remains Unchanged
Shareholder Return Framework1 Remains Unchanged Strong margins powering both growth and increased capital returns 40% of free cash flow2 for Base Dividend shareholder returns (2028+) • Quarterly dividend of $0.05 per share commenced in Q3 2026 Variable Return • Expected to increase to $0.08 per shar
Slide 6: Blackwater Mine: Our Competitive Advantages
Blackwater Mine: Our Competitive Advantages Industry-leading growth profile Blackwater is growing to become one of Canada’s largest single gold mines • Located in British Columbia, a Tier 1 jurisdiction • Moderate climate, year-round access • Supportive government policy and effective regulations, p
Slide 7: Best in Class ESG
Best in Class ESG Leading with integrity Environment Social Governance • Mill is powered by renewable • 60% of independent directors are female • Culturally-appropriate engagement with First hydroelectricity and has zero Scope 1 • Executive pay tied to ESG metrics Nations and communities emissions •
Slide 8: Operations Performing Well
Operations Performing Well Open pit development progressing on plan • New mine fleet integration going well • Transition to self performed production drilling and blasting in progress Crushing capacity is in place for Phase 1A • 8 Mtpa throughput rate demonstrated in Q3 Achieving higher mill through
Slide 9: Q3 2026 Operating Results
Q3 2026 Operating Results Higher mill throughput; preparing for Phase 1A commissioning • Production of 69,546 oz gold Select operating results Q3 2026 YTD 2026 • Mill throughput increased by 10% versus previous quarter Total mined (t) 12,428,245 36,383,856 • Gold grades remained strong at 1.55 g/t O
Slide 10: 2026 Guidance
2026 Guidance Production guidance 265,000-290,000 oz gold; costs at high point of AISC guidance $millions, unless stated otherwise 2026 Guidance YTD at Sept 30 Gold production (oz) 265,000 - 290,000 205,532 AISC1 (US$/oz sold) $925 - $1,025 $1,024 Sustaining capital $5 $4 Resource expansion and expl
Slide 11: Phase 1A Progress
Phase 1A Progress Phase 1A 77% complete at the end of Q3 2026 The following milestones have been achieved: • Vertimill building structural steel complete; cladding nearly complete • Vertimill assembly well advanced • New pre-aeration and leach tank erection complete • Shear reactor pump house and sh
Slide 12: EP2 Progress – Major Works Started in August 2026
EP2 Progress – Major Works Started in August 2026 Early works program complete, including camp expansion Major works construction commenced ahead of schedule The following milestones have been achieved: • Plant bulk earthworks well advanced • SAG and ball mill raft foundations complete, with rafts p
Slide 13: EP2 Progress – Transforming Blackwater into one of Canada's largest gold mines
EP2 Progress – Transforming Blackwater into one of Canada’s largest gold mines EP2 ball and SAG mill foundations – October 2026 EP2 footprint with general arrangement overlay – October 2026 TSXV: ARTG | artemisgold.com 13
Slide 14: One of the Largest, Lowest-cost Gold Mines in Canada
One of the Largest, Lowest-cost Gold Mines in Canada 800 Gold Production Cash Costs (US$/oz) AISC (US$/oz) $2,500 700 2025 Cash Costs and AISC (US$/oz) 693 $2,000 600 643 2025 Gold Production (koz) 500 Average AISC $1,500 513 493 400 400 376 345 $1,000 300 313 290 255 200 237 224 193 $500 100 0 $- D
Slide 15: Gold Price Resource Upside
Gold Price Resource Upside • Current reserves based on a US$1,400/oz gold price pit shell Purple Surface – Reserve pit shell (US$1,400/oz Au) • At US$2,000/oz gold price, the pit shell potentially expands MINERAL RESERVE AT US$1,400/OZ GOLD PRICE Tonnes AuEq AuEq Category (Mt) (g/t) Moz Mineral 331.
Slide 16: Resource Expansion Upside
Resource Expansion Upside • Resource expansion potential is substantial • First two diamond drill holes1 intercepted significant mineralization below current reserve pit ✓ BWDD26001 intercepted 259m at 1.22 g/t Au, including 85m at 2.29 g/t Au ✓ Both holes intercepted significant mineralization belo
Slide 17: Regional Exploration Upside – Highly Prospective District
Regional Exploration Upside – Highly Prospective District Land package of 1,490 km2 prospective for multiple deposit types • Over 30 targets identified within trucking distance of the Blackwater mine • Regional exploration drilling began in October 2025 • 15,000 - 25,000 metres, up to 150 holes • >1
Slide 18: Further Growth and Upside at Blackwater
Further Growth and Upside at Blackwater Resource update and Blackwater expansion drilling • Resource block model calibrated to reflect grade control knowledge • Plan for final 2026 Mineral Resource update to use end of November resource expansion drilling cutoff Regional exploration • Regional explo
Slide 19: Committed Growth Plans – Disciplined Project Delivery
Vista Gold Acquisition Complements Artemis Gold’s Existing Portfolio Mt Todd potential development timeline sequences well with completion of Blackwater EP2, providing an attractive growth option 2026 2027 2028 2029 2030 2031 2032 Phase 1A Phase 1A: 33% Disciplined Project Delivery Committed Growth
Slide 20: Acquisition Enhances Artemis Gold's Existing Growth Strategy
Acquisition Enhances Artemis Gold’s Existing Growth Strategy Operational performance – Optimizing the current operation through increased mill utilization and processing Phase 1 reliability Blackwater Near-term growth – Blackwater Phase 1A (+33%) expansion components being tied in and commissioned P
Slide 21: Mt Todd is an Advanced Stage Gold Asset of Scale
Mt Todd is an Advanced Stage Gold Asset of Scale Stage Location Darwin Feasibility Study Northern Territory Northern Australia Territory Australia Jabiru Reserves1 Resources1 36 5.2 Moz Au P&P 9.1 Moz Au M&I 1 1.4 Moz Au Inferred Adelaide River Existing Infrastructure Mine Type 21 Roads, power, gas
Slide 22: Mt Todd Exploration Potential
Mt Todd Exploration Potential 1,392 km2 contiguous mining leases and exploration licenses N • Numerous areas on the property have historic artisanal mine Commodity workings from the early 1900s for gold, alluvial and hardrock, and Au Cu tin Pb Exploration Licenses Mining Leases • The property has be
Slide 23: Significant Cash Flow to Fund Growth Options
Significant Cash Flow to Fund Growth Options Cash flow generation from Blackwater post EP2 to comfortably fund development capital for Mt Todd while also supporting ongoing capital returns to shareholders US$4,221M Strong balance sheet with C$891M total liquidity at Sept 30, 2026 Phase 1A and EP2 ex
Slide 24: Financial Strength: Funding Certainty for EP2
Financial Strength: Funding Certainty for EP2 Significant Liquidity Production Growth Downside Price Protection Profits Protected $191M cash Total Q3 available liquidity $891M $700M RCF Sept 30, 2026 cash Phase 1A drives Put options protect future Catastrophic event insurance balance $191M plus full
Slide 25: Capital Structure
Capital Structure Ownership, fully diluted C A P I T A L S T R U C T U R E at November 5, 2026 Issued and outstanding shares 235M 19% Board and management Options, RSUs and DSUs 7M 36% Institutional and ETFs Fully diluted shares 242M Retail/HNW Share price ($C) $39.47 45% Market capitalization ($C)
Slide 26: Key Near-term Catalysts
Key Near-term Catalysts Right team; right asset; right time 1. On track for 2026 guidance of 265,000–290,000 oz at lowest quartile AISC1 2. Returning capital to shareholders through quarterly dividends 3. Phase 1A – 33% growth in design throughput by end of 2026 2 4. EP2 – 250% growth in design thro
Slide 27: Want to know more about Artemis Gold?
TSX-V: ARTG | artemisgoldinc.com Want to know more about Artemis Gold? Follow or Like our social channels to stay up-to-date CONTACT US LinkedIn Artemis Gold Inc. linkedin.com/company/artemis-gold TEL: 604.588.1107 X info@artemisgoldinc.com twitter.com/artemisgoldinc 3083-595 Burrard Street Facebook
Slide 28: Appendix
TSX-V: ARTG | artemisgoldinc.com Appendix TSXV: ARTG | artemisgold.com 28
Slide 29: Board and Management
Board and Management Steven Dean Dale Andres Jeremy Langford Erik Marchand Tony Scott Candice Alderson Founder and Executive Chair CEO and Director President CFO and Corporate Secretary Chief Business Development Chief ESG Officer Steven Dean is the founder and Executive Chair of Dale Andres has 30+
Slide 30: Track Record of Success and Value Creation
Track Record of Success and Value Creation 580% share price appreciation over past three years – strongly outperforming GDX and GDXJ1 Declared Refinanced Announced EP2 commercial project loan Delivered major works Declared Completed construction of production, just facility with Launched 192,808 oz
Slide 31: Vista Gold Acquisition – Transaction Summary
Vista Gold Acquisition – Transaction Summary • Artemis Gold to acquire all of the issued and outstanding shares of Vista Gold, pursuant to a court-approved plan of arrangement Transaction • Total transaction value of approximately US$427M (1) • Artemis Gold and Vista Gold shareholders will own appro
Slide 32: Bringing Generational Change to Indigenous and Local Communities
Bringing Generational Change to Indigenous and Local Communities Artemis Gold acknowledges that the Blackwater Mine site is located within the traditional territories of the Lhoosk’uz Dené Nation and Ulkatcho First Nation “ A R T E M I S G O L D H A S I M PA C T The Health, Safety, Environment and S
Slide 33: Wheaton Precious Metals Stream Financings
Wheaton Precious Metals Stream Financings Silver stream • Up-front payment of US$141 million received in 2023 during Phase 1 construction; additional US$30M received in March 2025 on simplification of the silver stream agreement1 • 50% of the silver produced from Blackwater over the life of mine, dr
Slide 34: Hedge Program
Hedge Program Entered into gold forward sales contracts in 2023 for 190,000 oz of gold at a weighted average price of C$2,830/oz, as required under the terms of the Project Loan Facility At the end of Q3 2026, 111,000 oz remain outstanding, maturing as follows: • Q4 2026 – 12,158 oz • Q1 2027 – 15,8
Slide 35: Analyst Coverage
Analyst Coverage INSTITUTION ANALYST EMAIL BMO Capital Markets Andrew Mikitchook andrew.mikitchook@bmo.com Canaccord Genuity Jeremy Hoy jehoy@cgf.com Cormark Securities Richard Gray rgray@cormark.com Haywood Securities Pierre Vaillancourt pvaillancourt@haywood.com National Bank Financial Don Demarco
Slide 36: Mineral Reserve Estimate for Blackwater
Mineral Reserve Estimate for Blackwater 1. Mineral Reserves are reported at the point of delivery to the primary crusher, inclusive of mining loss and dilution, using the 2014 CIM Definition Standards, and have an effective date of December 31, 2025. 2. Mineral Reserves are depleted to a surveyed as
Slide 37: Mineral Resource Estimate for Blackwater
Mineral Resource Estimate for Blackwater 1. The Mineral Resource estimate was prepared by Sue Bird, P.Eng., the Qualified Person for the estimate, and an employee of Moose Mountain Technical Services. 2. Mineral Resources are reported using the 2014 CIM Definition Standards and are estimated in acco
Slide 38: 2025 Mt Todd Mineral Resource
2025 Mt Todd Mineral Resource Batman Deposit Heap Leach Pad Quigleys Deposit Contained Contained Contained Tonnes Grade Tonnes Grade Tonnes Grade Gold Ounces Gold Ounces Gold Ounces (000s) (g Au/t) (000s) (g Au/t) (000s) (g Au/t) (000s) (000s) (000s) Measured (M) 124,502 0.82 3,301 - - - 3,702 1.13
Slide 39: 2025 Mt Todd Mineral Reserve
2025 Mt Todd Mineral Reserve Batman Deposit Heap Leach Pad Total Contained Contained Contained Tonnes Grade Tonnes Grade Tonnes Grade Gold Ounces Gold Ounces Gold Ounces (000s) (g Au/t) (000s) (g Au/t) (000s) (g Au/t) (000s) (000s) (000s) Proven 77,359 0.95 2,371 - - - 77,359 0.95 2,371 Probable 81,