Artemis Resources Limited — Capital/Financing Update 2009

Sep 28, 2009

29 September 2009 Artemis Share Purchase Plan

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Artemis Resources Limited (" Artemis " or the " Company ") is pleased to announce the terms of its offer to existing eligible shareholders under a share purchase plan (" 2009 SPP ") to raise up to $1 million or such greater amount as the directors determine (subject to the limits in the ASX Listing Rules). The 2009 SPP will provide eligible shareholders of Artemis with an opportunity to purchase shares in the Company without incurring brokerage and other transaction costs and at the same issue price as the Company's recent placement.

Under the 2009 SPP, each Artemis shareholder with a registered address in Australia and New Zealand who held shares at the record date of 25 September 2009 will be entitled to acquire up to $15,000 worth of new fully paid ordinary shares in the Company (" SPP Shares ") which will rank equally in all respects with the existing fully paid ordinary shares of the Company. The SPP Shares will be offered at a price of $0.05 per share.

The maximum number of SPP Shares to be issued is intended to be 20,000,000. If subscriptions under the 2009 SPP exceed $1 million, the Company may scale back the number of SPP Shares issued to each applicant. If applications are scaled back, any excess application monies will be refunded without interest.

If applications are received for in excess of $1 million, the Board retains the discretion to issue more than 20,000,000 SPP Shares to satisfy all or part of such applications, subject to a maximum number of SPP Shares equal to 30% of the issued share capital of the Company at the date of issue.

Shareholder approval is not required for the issue of SPP Shares under the 2009 SPP.

The 2009 SPP documentation will be posted to eligible shareholders on 2 October 2009 together with an Application Form. However, the offer under the 2009 SPP will not be open for acceptances until 5 October 2009 and shareholders will need to complete the Application Form in order to take up shares under the 2009 SPP. Shareholders should consider all the 2009 SPP documentation, including the 2009 SPP Terms and Conditions, in deciding whether to participate in the 2009 SPP.

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Important Dates

Record date for determining entitlements under SPP	5.00pm
	(Sydney time) on
	25 September 2009
SPP documents despatched to eligible Artemis	2 October 2009
shareholders
SPP offer opens	5 October 2009
SPP offer closes	5.00pm
	(Sydney time) on
	19 October 2009
SPP Shares allotted	23 October 2009
Despatch of holding statements to shareholders	26 October 2009

These dates are indicative only and Artemis may amend this timetable. Artemis may also withdraw the offer of new shares under the 2009 SPP at any time before the allotment date in its absolute discretion.

For further information please contact:

Sevag Chalabian Chairman

Phone: +61 (0) 407 816 758 Email: schalabian@artemisresources.com.au Web Site: www.artemisresources.com.au

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Telephone: +61 2 9299 8820 Facsimile: +61 2 9262 2885 Email: info@artemisresources.com.au Level 10, 1 Margaret Street, Sydney, NSW, 2000, AUSTRALIA Postal Address: PO Box R933, Royal Exchange, NSW, 1225 ABN: 80 107 051 749 www.artemisresources.com.au