TSXV: ARTG
VANCOUVER, BC, July 15, 2021
/CNW/ - The Province of British
Columbia and Artemis Gold Inc. (TSXV: ARTG)
("Artemis" or the "Company") are pleased to announce
the approval of Mines Act Permit M-246 allowing for early
construction works at the Company's Blackwater Gold project
in Central British Columbia
("Blackwater" or the "Project"). The approval of the
early works permit is the first step required for mine
construction, allowing for the necessary site preparation and land
clearing work to begin.
"Advancing the Blackwater Gold project from exploration to early
work will help unearth the massive economic potential in B.C.'s
Cariboo region," said Premier John
Horgan. "Mining and mineral exploration is a foundational
part of B.C.'s economy and key to building a stronger and more
sustainable British Columbia – one
where everyone shares in our prosperity."
The Blackwater mine is estimated to be the largest gold mine
development project in the Cariboo region of B.C. in the last
decade, supporting regional employment over 25 years, including the
construction period, with the potential for that to be extended
through further exploration. Blackwater is to be connected to the
BC Hydro grid, which is powered by hydro-electricity providing it
with a sustainable source of low-carbon power, with the potential
to produce gold and silver with one of the lowest GHG emissions
from an open pit in the world.
"We welcome the development of the new Blackwater gold and
silver mine," said Bruce Ralston,
Minister of Energy, Mines and Low-Carbon Innovation. "It will
create high earning, long-term jobs, advance Indigenous
reconciliation, and supply some of the most responsibly mined gold
and silver in the world, exemplifying British Columbia's ESG advantage."
An economic impact study completed by KPMG on the Blackwater
Project in November 2020 anticipates
the project will create 457 direct full-time jobs per year over the
23-year operating life of the mine, with 825 direct full-time jobs
per year created during the construction/expansion phases of mine
development. Additionally, the mine is expected to contribute
$13.2 billion to the provincial
economy, over the life of the mine, including $2.3 billion to provincial revenues.
Steven Dean, Artemis Chairman and
CEO commented "We would like to thank the Government of
British Columbia for prioritising
this permit, the Lhoosk'uz Dene
Nation and Ulkatcho First Nation, whose traditional
territories overlap the mine property for continuing to demonstrate
strong support, including during the permitting process, to advance
the Blackwater Project forward on its path of becoming the next
major new gold mine in British
Columbia. The approval of the early works permit is another
sign that British Columbia is open
for business for responsible mineral exploration and
development."
The Province signed an Economic and Community Development
Agreement with the Lhoosk'uz Dené and Ulkatcho First Nations to
share mineral tax revenue in 2020. Prior to that, an impact
benefits agreement was signed in 2019 with the Lhoosk'uz Dené and
Ulkatcho First Nations for the Blackwater Project. Since
acquiring the Blackwater Project in 2020, Artemis continues to
develop relationships with Indigenous partners, notably by signing
an impact benefits agreement with the Nazko First Nation in
May 2021 and ongoing negotiations
with the Carrier Sekani First Nations on an impact benefits
agreement. The development of the Blackwater Project has the
potential to provide long-term economic benefits and Artemis is
working with these Nations to bring training, business development
and employment opportunities to each of the Nations' communities
while also advancing Indigenous reconciliation.
Chief Liliane Squinas of the
Lhoosk'uz Dené Nation added "The Blackwater Gold project is in the
heart of our traditional territory. We have been actively engaged
in all aspects of the project - from mineral exploration, the
Environmental Assessment, and now into Permitting. As partners with
Artemis, we are excited about the employment, economic and business
opportunities available to our Nation. We look forward to
strengthening our relationship as we work through the rest of
permitting process ensuring that the environmental commitments are
met."
Chief Lynda Price of the Ulkatcho
First Nation added "The Ulkatcho First Nation is proud to be active
participants in the Blackwater Gold Project, our community has been
engaged in the project since its inception. While we are in
favour of the mine due to its economic benefits, as the traditional
stewards of our land, our top priority is the environment. We look
forward to working through the full permitting of the mine to
ensure that the impacts to our Nation are properly mitigated so
that all wildlife species such as caribou are protected, as
they are so vital to our culture. This project has a large number
of conditions attached to its Environmental Assessment Certificate,
we will be sure that these are fully met through the permitting
process."
Mineral Exploration is a critical pre-cursor to mine development
and operation. Last year, approximately $422M was invested in BC by exploration companies
seeking to find the next Blackwater – the highest investment in the
last decade. This bodes well for the future of mining in
BC.
The mineral exploration and mining sectors are key contributors
to the provincial economy – creating more than 30,000 jobs,
$9 billion in annual production
value, and over $250 million in
average annual mineral tax receipts. The mining sector is the
largest private sector employer of Indigenous people in
Canada.
ARTEMIS GOLD INC.
On behalf of the Board of Directors
"Steven Dean"
Chairman and Chief Executive Officer
+1 604 558 1107
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Note Regarding Forward-Looking
Information
This news release contains certain "forward looking
statements" and certain "forward-looking information" as defined
under applicable Canadian and U.S. securities laws. Forward-looking
statements and information can generally be identified by the use
of forward-looking terminology such as "may", "will", "expect",
"intend", "estimate", "anticipate", "believe", "continue", "plans",
"potential" or similar terminology. Forward-looking statements and
information are not historical facts, are made as of the date of
this news release, and include, but are not limited to, statements
regarding the potential of the Project; the jobs to be created in
connection with the Project; the contribution of the Project to the
economy; opinions of the Province of British Columbia regarding the Project and the
region; agreements and relationships with Indigenous partners; the
future of mining in British
Columbia; the plans of the Company with respect to the
Project, including construction, site preparation, clearing,
consultation with indigenous groups ;; and other plans and
expectations of the Company with respect to the Project.
These forward-looking statements involve numerous risks and
uncertainties and actual results may vary. Important factors that
may cause actual results to vary include without limitation, risks
related to the ability of the Company to accomplish its plans and
objectives with respect to the development of the Project within
the expected timing or at all, the timing and receipt of certain
required approvals, changes in commodity prices, changes in
interest and currency exchange rates, risks inherent in exploration
and development activities, changes in development or mining plans
due to changes in logistical, technical or other factors,
unanticipated operational difficulties (including failure of plant,
equipment or processes to operate in accordance with
specifications, cost escalation, unavailability of materials,
equipment or third party contractors, delays in the receipt of
government approvals, industrial disturbances, job action, and
unanticipated events related to heath, safety and environmental
matters), the COVID-19 pandemic, political risk, social unrest,
changes in general economic conditions or conditions in the
financial markets, and other risks related to the ability of
the Company to proceed with its plans for the Project and other
risks set out in the Company's most recent MD&A. In making the
forward-looking statements in this news release, the Company has
applied several material assumptions, including without limitation,
the assumptions that: (1) market fundamentals will result in
sustained mineral demand and prices; (2) the receipt of any
necessary approvals and consents in connection with the development
of the Project; (3) the availability of financing on suitable terms
for the development, construction and continued operation of the
Project; (4) sustained commodity prices such that the Project
remains economically viable; and (5) that the COVID-19 pandemic and
restrictions related thereto will not materially impact the Company
or prevent the Company from operating its business as planned. The
actual results or performance by the Company could differ
materially from those expressed in, or implied by, any
forward-looking statements. Accordingly, no assurances can be given
that any of the events anticipated by the forward-looking
statements will transpire or occur, or if any of them do so, what
impact they will have on the results of operations or financial
condition of the Company. Except as required by law, the Company is
under no obligation, and expressly disclaim any obligation, to
update, alter or otherwise revise any forward-looking statement,
whether written or oral, that may be made from time to time,
whether as a result of new information, future events or otherwise,
except as may be required under applicable securities laws.
SOURCE Artemis Gold Inc.