Artemis Resources Limited — Capital/Financing Update 2007

Dec 27, 2007

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Registered Office 34 Parliament Place West Perth WA 6005 ABN 80 107 051 749

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Telephone: +618 9488 5266 Facsimile: +618 9321 6699 Email: info@artemisresources.com.au

28 December 2007

ELS572007

Company Announcements Office Australian Stock Exchange Limited Electronic Lodgement System

Dear Sir / Madam

December 2007 Placement and Notice of Release from Escrow

Further to the announcements dated 17 and 24 December 2007 and a delivery delay due to the Christmas period, Artemis Resources Limited (Artemis or the Company) is pleased to advise the placement of 78,431 shares at 25 cents per share to sophisticated investors to raise $19,607, as part of the December 2007 placement. Total funds raised from the placements in December totals $4.2m before costs of the issue.

Funds will be used primarily for the Company’s Niger Uranium JV, Copper and Molybdenum exploration project at its Spinifex Ridge - Bamboo Creek project, acquisitions and working capital purposes.

Notice under Section 708A

The Company gives notice of the issue of 78,431 shares pursuant to section 780A(5)(e) of the Corporations Act 2001 (Act).

• As required by section 708A(6) of the Act, the Company advises that:

  1. the securities were issued without disclosure under Part 6D.2 of the Act;

  2. this notice is being given pursuant to Section 708A(5)(e) of the Act;

  3. the Company as at the date of this notice has complied with:

     • (a) the provisions of Chapter 2M of the Act as they apply to the Company; and

     • (b) section 674 of the Act; and

  4. as at the date of this notice, there is no excluded information for the purposes of sections 708A(7) and (8) of the Act.

Release from Escrow

Pursuant to Listing Rule 3.10A, Artemis Resources Limited advises that 640,000 ordinary shares will be released from escrow on 12 January 2008. Application will be made to ASX for quotation of these shares.

For further information please contact Mr Barry Woodhouse on 08 9488 5266.

Yours faithfully,

ARTEMIS RESOURCES LIMITED

Mr Barry Woodhouse

DIRECTOR AND COMPANY SECRETARY

About Artemis Resources Limited

Artemis Resources Limited is a diversified Australian resource investment house focused on direct exploration and investments in the resource sector.

www.artemisresources.com.au

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Registered Office 34 Parliament Place West Perth WA 6005 ABN 80 107 051 749

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Telephone: +618 9488 5266 Facsimile: +618 9321 6699 Email: info@artemisresources.com.au

Artemis aims to establish a diversified portfolio of investments in projects as well as investments in resource companies. The Company currently has direct interests in gold (total inferred resources of approximately 70,000 ounces of gold) and a Molybdenum-Copper project in Western Australia, and is examining a number of resource opportunities in Australia and overseas. The Company also has exposure to the uranium sector with a strategic interest in uranium developer Contact Uranium Limited (ASX Code: CTS), a Uranium JV interest in Niger and a 7% interest in recently ASX listed company Apollo Minerals (ASX Code: AON) which is exploring for IOCGU style deposits in South Australia and iron ore in Western Australia.

Tony Grey has been appointed as Special Adviser to assist Artemis in the development of the Company’s uranium assets. Mr Grey has over 30 years experience in the resource sector including as founder of the Jabiluka Uranium deposit, founder of Pancontinental Mining, Chairman of LSE listed International Ferrochrome and director of TSX listed Mega Uranium. Mega Uranium through its wholly owned subsidiary Redport holds a 10% interest in Artemis.

www.artemisresources.com.au