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Artemis Gold receives initial $35.2M deposit under silver stream agreement with Wheaton

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(Kitco News) - Artemis Gold (TSX-V: ARTG) said today it has received its first $35.2 million deposit under the silver stream agreement concluded on December 13, 2021 with Wheaton Precious Metals.

According to a company press release, the initial deposit forms part of the $140.8 million that Wheaton has committed to fund toward construction of the Blackwater gold mine.

Importantly, Artemis Gold noted that construction activities at Blackwater are underway and progressing in accordance with the company’s project development plan.

Chairman and CEO Steven Dean commented, “The receipt of the first funding under the silver stream is an important milestone as it represents the first external funding being advanced toward Blackwater’s construction and reflects our financing partners’ confidence in the strong progress achieved to date.”

Artemis Gold’s current focus is construction of the Blackwater mine project in central British Columbia approximately 160km southwest of Prince George and 450km northeast of Vancouver. The first pour of gold and silver from the Blackwater mine is expected H2 2024 and the mine is expected to be in production for a minimum of 22 years.

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