Artemis Resources Limited — Capital/Financing Update 2009

Nov 4, 2009

==> picture [284 x 65] intentionally omitted <==

ASX RELEASE 5 NOVEMBER 2009

SALE AGREEMENT SIGNED ON GEORGETOWN TANTALUM – LITHIUM PROJECT

Orion Metals Ltd (“ORM”) (ASX:ORM) has signed an option to purchase agreement on its 100% owned Grant’s Gully-Buchanan’s Creek tantalum (Ta) –lithium (Li) project south of Georgetown with Artemis Resources Ltd (ASX:ARV).

Artemis has paid ORM a non-refundable deposit/option fee of $25,000, which entitles Artemis to exclusivity for a period of 45 days in order to carry out due diligence on the project.

On completion, if Artemis elects to purchase, Artemis will pay a further $425,000, of which $200,000 shall be paid in cash and the remaining $225,000 in Artemis shares. In return, Orion shall transfer to Artemis or its nominee 100% of the Project.

The Grant’s-Buchanan’s project comprises 3 mining leases and 2 exploration permits, and as previously announced ORM was seeking participation by another party in the Grant’s Gully - Buchanan’s Creek tantalum Ta-Li project which comprises Mining Leases (ML) 3311, 30123, and 30208 and Exploration Permits (EPM) 13694 and 14988 and all successor and related licences and licence applications and mining information.

These funds will allow ORM to advance its other gold projects and to seek new opportunities in the resource sector.

==> picture [60 x 76] intentionally omitted <==

Director

For further information, please contact:

Adrian Day l Director, ORM Phone: 07 3371 0001 Mobile: 0418 181 907 E-mail: adrian.day@qgm.com.au