Artemis Resources Limited — Capital/Financing Update 2013

Nov 11, 2013

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ASX Announcement 12 November 2013

35.7% Sb - HIGHEST ANTIMONY RESULT TO DATE AT EASTERN HILLS New Dugite Zone grades overshadow Taipan Zone

EASTERN HILLS ANTIMONY-LEAD (Sb - Pb) DEPOSIT

• New zone at Eastern Hills reveals highest antimony grade to date

• Dugite Zone rock chip sample returns 35.7% Sb, 29.0% Pb, 1,335g/t Ag & 0.56g/t Au

• Significant gold mineralisation also identified – up to 3.36g/t Au in Dugite Zone rock chip sample

• Historic rock chip results up to 33.0% Sb, 36.0% Pb, 1,500g/t Ag & 6.80g/t Au also on Dugite Zone

• Reinforces potential of new zones to add to Taipan Zone metal inventory

• Follow-up field campaign in November to close off 2013 field season

• JORC code compliant resource estimation of Taipan Zone mineralisation is underway

Artemis Resources Limited (ASX: ARV) is pleased to announce that high grade assay results have been received from follow-up geological mapping and sampling of antimony-lead mineralisation zones identified in close proximity to the Taipan Zone at Eastern Hills (Figure 1), located in the Ashburton region of Western Australia (Figure 4). While the Taipan Zone was the focus of Artemis’ recent drilling programme and current JORC resource study, the Company announced in September[1] that it had identified three additional zones of similar style mineralisation that appear to be part of a more widespread mineralised system – the Dugite, Gwardar and Tiger Zones.

The latest rock chip sampling results from the Dugite Zone, located just north of the Taipan Zone, have returned the highest antimony grade seen to date at the Eastern Hills Project of 35.7% Sb. The same sample, collected from the eastern portion of the Dugite Zone (Figures 1 & 2), also included extremely high grades of 29.0% Pb, 1,335g/t silver (Ag) & 0.56g/t gold (Au).

Further significant results from the Company’s October rock chip sampling of the new zones included:

 5.4% Sb, 9.2% Pb, 277g/t Ag & 1.53g/t Au (Dugite Zone)  1.1% Sb, 3.9% Pb, 44g/t Ag & 3.36g/t Au (Dugite Zone)  3.8% Sb, 11.7% Pb, 50g/t Ag & 0.24g/t Au (Tiger Zone)

These results elevate the Dugite Zone to become a key focus in the Company’s quest for additional resources to add to the mineralisation recently drilled at the Taipan Zone. This is reinforced by Artemis’ recent re-evaluation of previously unseen historical data which revealed rock chip sampling results of up to 33.0% Sb, 36.0% Pb, 1,500g/t Ag & 6.80g/t Au in the vicinity of the Dugite Zone high grade results described above (Figure 2).

Artemis will undertake another detailed mapping and sampling campaign of the Dugite, Gwardar and Tiger Zones over the coming weeks, before the end of the field season.

Artemis General Manager-Exploration, Trevor Woolfe, commented: “Our exceptionally high grade rock chip results from the Dugite Zone that correlate with equally exceptional historical sampling results highlight the new zone’s antimony-lead-silver-gold potential in addition to that already outlined at the Taipan Zone. The high grades at Dugite are significantly higher than any of the surface sampling results recorded on the Taipan Zone.”

1 As per ASX announcement dated 26th September 2013 “New Antimony Zones Identified at Eastern Hills”

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Artemis Resources Limited ABN: 80 107 051 749 Telephone: +61 2 9078 7670 | Facsimile: +61 2 9078 7661 | Email: info@artemisresources.com.au Level 9, 50 Margaret Street, SYDNEY NSW 2000 | PO Box R933 Royal Exchange, NSW 1225 Australia

www.artemisresources.com.au

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The exceptional Artemis results described above are located at the eastern end of the Dugite Zone (Figure 1). Other significant results from the recent Artemis surface sampling can be seen in Table 1, with significant historic rock chip results recorded in Table 2. A more detailed view of the distribution of the high grade samples to the east of the Dugite Zone can be seen in Figure 2.

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Figure 1: Eastern Hills - Latest Sampling of New Zones Adjacent to Taipan Zone (recently drilled)

EASTERN HILLS Sb-Pb – A MULTIPLE VEIN SYSTEM CONFIRMED

In January 2013, Artemis announced an exploration target[2] at Eastern Hills. This target was based on antimony-lead mineralisation identified by historical exploration on a singular massive sulphide vein (now known as the Taipan Zone) over a strike length of at least 600m. Identification of three new zones (Dugite, Gwardar and Tiger), as well as extensions to the Taipan Zone, through mapping and sampling in September[1] , increased the potentially mineralised combined strike length of all four zones by 350% to 2.8km.

Quartz-sericite alteration and silicification along fault structures identified at Dugite, Gwardar and Tiger corresponds with similar mineralised alteration on the Taipan Zone and indicates that the Eastern Hills system is not a lone vein, but a multiple vein system.

The latest round of rock chip sampling, consisting of 15 samples, was undertaken during breaks in the recent Taipan Zone drilling programme. Sampling was focussed on the Dugite and Tiger Zones in response to positive results received from our initial mapping programme in September where results of up to 2.9% Sb (Dugite Zone) and 5.0% Sb (Tiger Zone) were obtained[1] .

2 Exploration target reported in ASX Announcements dated 16 and 18 January 2013

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Significant results from the latest rock chip sampling (Table 1) provide further evidence that Eastern Hills is shaping up to be a significantly mineralised multi-vein system predominantly containing antimony-lead with locally rich precious metals. In addition to the exceptional antimony and lead results (35.7% and 29% respectively), silver up to 1,335g/t (or 43oz/t) and 3.36g/t gold have been obtained on the Dugite Zone (Table 1). The Tiger Zone also reported significant results up to 3.8% Sb.

Sample ID	East (m)	North (m)	Sb (%)	Pb (%)	Ag (g/t)	Au (g/t)
							Target Zone
238638	410,065	7,474,450	1.1	3.9	44	3.36	Dugite
238639	410,145	7,474,513	35.7	29.0	1335	0.56	Dugite
238640	410,533	7,475,097	3.8	11.7	50	0.24	Tiger
238641	410,528	7,475,093	1.6	3.0	17	0.13	Tiger
238798	409,837	7,474,399	0.5	0.3	4	3.16	Dugite
238799	409,829	7,474,393	5.4	9.2	277	1.53	Dugite
Coordinate system: MGA94		(Zone 50)

Table 1: Eastern Hills Best Reconnaissance Sampling Results[3] – October 2013[4]

Taipan Zone

Drilling from the Company’s recently completed 15 hole reverse circulation (2,470 metre) programme along the Taipan Zone (Figure 1) has confirmed the excellent potential for this zone with the deposit extended to at least 850m strike length, and it remains open to the east and down-dip[5] . Artemis has now commenced a JORC code compliant resource estimation on the Taipan Zone.

Dugite Zone

The Dugite Zone lies immediately to the north of the Taipan Zone (Figure 1). This zone currently has a mapped strike length of approximately 1.1km and is striking east-northeast. As mentioned above, further encouragement was obtained from the latest rock chip sampling campaign with one particularly high grade result (sample 238639 - Table 1).

Artemis recently uncovered, and reviewed, historical rock chip sampling results along the Dugite Zone. Significant historical results (Sb>1%) are provided in Table 2 and are displayed on Figure 2. The results provide further support that the eastern end of the Dugite Zone is highly prospective for exceptionally high grade antimony, lead, silver and gold. Results of the historical sampling returned up to 33.0% Sb, 36.0% Pb, 1,500g/t Ag & 6.80g/t Au within a 50m zone of Artemis’ recent high grade antimony result (sample 238639), all of which were taken from the eastern end of the Dugite Zone. More detail of the results from both phases of sampling can be seen in Figure 2 which clearly shows high grade zones associated with two northwest-southeast trending interpreted fault zones cross-cutting the Dugite Zone. The two cross-cutting structures, which also appear to cut the eastern end of the Taipan Zone, are interpreted to have provided a pathway for mineralising fluids.

3 Best results selected if Sb>1.0% or Au>0.2ppm

4 Laboratory analysis of samples undertaken by ALS Laboratories Perth and Brisbane. Analysis of individual elements, with relevant method, is Sb (ME–XRF05, ME–XRF15b on assays greater than 1% Sb, and ME_XRF-15c on assays greater than 20% Sb), Ag (ME-ICP61 and OG62 on assays greater than 100ppm Ag), Pb (ME-ICP61 and OG62 on assays greater than 1% Pb), Au (Au-AA23)

5 As per ASX announcement dated 6th November 2013 “ Antimony Mineralisation Extends West at Eastern Hills”

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Figure 2: Dugite Zone (East) – Artemis & Historic Sampling Results and Mapping[6] (refer Fig 1)

The recent and historical sampling results have defined not only significant base metal (Sb & Pb) mineralisation but also significant zones of precious metal (gold and silver) mineralisation at numerous points along the Dugite Zone (Figure 3).

Dugite Zone precious metal results include (see Tables 1 and 2):

• 220g/t Ag & 6.80g/t Au (EHG057 - historic result)

• 110g/t Ag & 6.40g/t Au (EHG001 - historic result)

• 200g/t Ag & 3.90g/t Au (EHG002 - historic result)

• 44g/t Ag & 3.36g/t Au (238638 - Artemis result)

• 1,500g/t Ag & 0.50g/t Au (EHG141 - historic result)

• 1,335g/t Ag & 0.56g/t Au (238639 - Artemis result)

Mineralisation at the eastern end of the Dugite Zone is interpreted to be the result of a northwest-southeast fault zone cross-cutting the Dugite silica alteration zone roughly perpendicular to the strike of that zone. It would appear that this later stage cross-cutting fault zone provides the fluid pathway for the antimony-lead-silver-gold mineralisation seen at the Eastern Hills deposit. This model provides encouragement for further discoveries of mineralisation on both the Gwardar and Tiger Zones, which at this point have not been mapped or sampled to the same level of detail as the Dugite Zone.

6 Best results selected if Sb>5.0%

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			Sb (%)	Pb (%)	Ag (g/t)	Au (g/t)
Sample ID	East (m)	North (m)					Target Zone
EHG001	410,142	7,474,459	1.0	28.0	110	6.40	Dugite
EHG002	410,143	7,474,459	1.7	29.0	200	3.90	Dugite
EHG019	410,137	7,474,454	1.7	35.0	130	3.20	Dugite
EHG020	410,137	7,474,459	1.1	13.0	140	3.20	Dugite
EHG033	410,317	7,474,554	2.3	6.0	28	1.08	Dugite
EHG035	410,337	7,474,584	3.5	8.6	160	0.06	Dugite
EHG057	410,149	7,474,454	2.2	3.3	220	6.80	Dugite
EHG125	410,246	7,474,555	19.5	36.0	250	0.32	Dugite
EHG137	410,162	7,474,528	10.8	13.0	22	0.21	Dugite
EHG138	410,196	7,474,538	1.3	0.2	3	0.01	Dugite
EHG139	410,143	7,474,516	4.3	5.6	18	0.38	Dugite
EHG140	410,138	7,474,516	21.5	29.5	140	0.39	Dugite
EHG141	410,132	7,474,511	33.0	30.5	1500	0.50	Dugite
EHG142	410,121	7,474,505	8.6	9.4	135	1.25	Dugite
EHG143	410,235	7,474,519	6.2	10.6	35	0.82	Dugite
EHG144	410,307	7,474,521	8.2	9.0	9	0.10	Dugite
Coordinate system: MGA94(Zone 50)

Table 2: Dugite Zone (East) - Historical Sampling Results[7]

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Figure 3: Eastern Hills – Artemis & historic sampling results (gold and silver)[8]

7 Laboratory analysis of historical Taipan Resources NL samples undertaken by Genalysis Laboratory Services Pty Ltd Perth in 1996, refer to JORC Table 1 at the end of this announcement for further information.

8 Best results selected if Au>0.2g/t or Ag>15g/t

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Tiger Zone

The Tiger Zone is located 500 metres to the northeast of the Taipan Zone (Figure 1) and returned a high grade result of 5.0% Sb from the recent September 2013 sampling programme. Follow-up work during October detailed further encouraging mineralisation with 3.8% Sb and 1.6% Sb results obtained from this latest campaign (Table 1).

The Tiger Zone has a northeast orientation which, although different from the more central alteration zones, still shows evidence of a pathway for mineralisation along the fault structure. The Tiger Zone, with only limited mapping and sampling by Artemis to date (8 samples), will be a focus for follow-up mapping and rock chip sampling this month.

Gwardar Zone

The Gwardar Zone was recently identified[1] and lies to the north of the Dugite Zone (Figure 1) with an approximate strike length of 700m. No further mapping or sampling of this zone was undertaken during the recent sampling programme.

To date only one rock chip sample has been taken by Artemis from the Gwardar Zone and an encouraging result of 0.4g/t Au was recorded. A gold result of this level is encouraging as it suggests a potential link between the nearby Mt Clement gold deposit and the western end of the Eastern Hills mineralisation. More systematic mapping and sampling of the Gwardar Zone is currently being planned.

November Field Campaign

Following the encouragement of reconnaissance mapping and sampling to date, the Dugite, Gwardar and Tiger zones will now be subjected to a more detailed mapping and rock chip sampling programme with the objective of defining further targets outside of the Taipan Zone for drill testing to be undertaken in the 2014 field season. This campaign will be undertaken in November prior to the onset of the wet season, with results expected in the New Year.

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Table 3: Proposed activities and progress for Eastern Hills Project

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ABOUT ARTEMIS RESOURCES

Artemis Resources Limited is a resources exploration company with a focus on its prospective Mount Clement (gold), Eastern Hills (antimony), Yandal (gold) and West Pilbara (gold and base metals) projects in Western Australia. These projects have significant exploration potential and close proximity to existing important deposits or producing mines. Artemis aims to develop a significant gold inventory through exploration and acquisitions which have the potential to become mines and create shareholder value.

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Figure 4

For further information, please contact:

Guy Robertson Executive Director Phone: +61 2 9078 7670 Email: info@artemisresources.com.au Web Site: www.artemisresources.com.au

James Moses Mandate Corporate Mob: 0420 991 574 Email: james@mandatecorporate.com.au

Tony Dawe

Professional Public Relations +61 8 9388 0944 Email: tony.dawe@ppr.com.au

Competent Person Statements

The information in this document that relates to Exploration Results and Exploration Targets is based on information compiled or reviewed by Mr Trevor Woolfe, who is a Member of The Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Mr Woolfe is a consultant to the Company, and is employed by Alexander Cable Pty Ltd. Mr Woolfe has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Woolfe consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Forward Looking Statements

This report contains forecasts, projections and forward looking information. Such forecasts, projections and information are not a guarantee of future performance and involve unknown risks and uncertainties, many of which are out of Artemis’ control. Actual results and developments will almost certainly differ materially from those expressed or implied. Artemis has not audited or investigated the accuracy or completeness of the information, statements and opinions contained in this presentation. To the maximum extent permitted by applicable laws, Artemis makes no representation and can give no assurance, guarantee or warranty, express or implied, as to, and takes no responsibility and assumes no liability for (1) the authenticity, validity, accuracy, suitability or completeness of, or any errors in or omission from, any information, statement or opinion contained in this report and (2) without prejudice to the generality of the foregoing, the achievement or accuracy of any forecasts, projections or other forward looking information contained or referred to in this report.

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JORC Code, 2012 Edition – Table 1 report template

Section 1 Sampling Techniques and Data

Section 1	Sampling Techniques and Data	Sampling Techniques and Data
(Criteriainthis	sectionapply to allsucceeding sections.)
Criteria	JORC Code explanation		Commentary
Sampling		Nature and quality of sampling (eg cut channels,		A rock chip sampling technique testing specific
techniques		random chips, or specific specialised industry		geological targets was used to obtain a 0.5-1.5kg
		standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as		sample for submission to the laboratory for ICP and XRF analysis. No field duplicates or blanks were submitted for
		limiting the broad meaning of sampling.		analysis.
		Include reference to measures taken to ensure
		sample representivity and the appropriate
		calibration of any measurement tools or systems
		used.
		Aspects of the determination of mineralisation
		that are Material to the Public Report.
		In cases where ‘industry standard’ work has
		been done this would be relatively simple (eg
		‘reverse circulation drilling was used to obtain 1
		m samples from which 3 kg was pulverised to
		produce a 30 g charge for fire assay’). In other
		cases more explanation may be required, such
		as where there is coarse gold that has inherent
		sampling problems. Unusual commodities or
		mineralisation types (eg submarine nodules)
		may warrant disclosure of detailed information.
Drilling		Drill type (eg core, reverse circulation, open-hole		Not applicable
techniques		hammer, rotary air blast, auger, Bangka, sonic,
		etc) and details (eg core diameter, triple or
		standard tube, depth of diamond tails, face-
		sampling bit or other type, whether core is
		_oriented and if so, by what method, etc). _
Drill sample		Method of recording and assessing core and		Not applicable
recovery		chip sample recoveries and results assessed.
		Measures taken to maximise sample recovery
		and ensure representative nature of the
		samples.
		Whether a relationship exists between sample
		recovery and grade and whether sample bias
		may have occurred due to preferential loss/gain
		of fine/coarse material.
Logging		Whether core and chip samples have been		All rock samples are geologically logged by the
		geologically and geotechnically logged to a level		geologist in the field.
		of detail to support appropriate Mineral		It is not considered that these samples will be
		Resource estimation, mining studies and		used to support appropriate Mineral Resource
		metallurgical studies.		estimation, mining studies or metallurgical studies.
		Whether logging is qualitative or quantitative in		Logging is considered to be semi-quantitative
		nature. Core (or costean, channel, etc)		given the nature of the alteration of these surficial
		photography.		rock chips and the inability to obtain detailed
		The total length and percentage of the relevant		geological information.
		intersections logged.
Sub-		If core, whether cut or sawn and whether		The random sampling of rock chips is considered
sampling techniques and sample		quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary		representative of the mineralisation contained in the identified alteration zones (Taipan, Dugite,

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
preparation		split, etc and whether sampled wet or dry.		Gwardar and Tiger Zones at the Eastern Hills
		For all sample types, the nature, quality and		Project).
		appropriateness of the sample preparation		No field duplicates were collected for analysis.
		technique.		A sample size of 0.5-1.5kg was collected and
		Quality control procedures adopted for all sub-		considered appropriate and representative for the
		sampling stages to maximise representivity of		grain size and style of mineralisation
		samples.
		Measures taken to ensure that the sampling is
		representative of the in situ material collected,
		including for instance results for field
		duplicate/second-half sampling.
		Whether sample sizes are appropriate to the
		grain size of the material being sampled.
Quality of		The nature, quality and appropriateness of the		ALS Laboratory (Perth & Brisbane) was used for
assay data and laboratory tests		assaying and laboratory procedures used and whether the technique is considered partial or total.		all analysis work carried out on the Artemis Resources Ltd rock chip samples. The laboratory techniques below are for all samples submitted to
		For geophysical tools, spectrometers, handheld		ALS and are considered appropriate for the style
		XRF instruments, etc, the parameters used in		of mineralisation defined at the Eastern Hills
		determining the analysis including instrument		Antimony-Lead Project:
		make and model, reading times, calibrations		o PUL-32 & CRU-21 (Sample
		factors applied and their derivation, etc.		Preparation Codes)
		Nature of quality control procedures adopted (eg		o ME-ICP61 Ag-As-S-Pb-Zn (4 Acid
		standards, blanks, duplicates, external		Digest; AES Finish) Sb by ME-
		laboratory checks) and whether acceptable		ICP61 for twinned drillholes only.
		levels of accuracy (ie lack of bias) and precision		o OG62 over-range Ag-Pb
		have been established.		o Au-AA23 Au (Fire Assay Gold)
				o ME-XRF05 Sb (Pressed Pellet
				XRF)
				o ME-XRF15b for Sb >10,000 ppm
				but <20,000ppm; Sb Only (Fusion
				XRF)
				o ME-XRF15c for Sb >20,000ppm;
				Sb Only (Fusion XRF)
				Genalysis Laboratory Services Pty Ltd (Perth) was
				used for all analysis work carried out on Taipan
				Resources NL rock chip samples. The laboratory
				techniques below are for all samples submitted to
				Genalysis and were considered appropriate for the
				style of mineralisation defined at the Eastern Hills
				Antimony-Lead Project at the time of submittal
				(1996):
				o No information on sample
				preparation procedures is available
				o B/AAS Au-Cu-Zn-Ag-As-Sb-Pb-Bi
				(Aqua Regia Digest; Flame AAS
				Finish).
				o AX/AAS (4 acid digest, Flame AAS
				finish) over-range Ag-Pb
				o AX/MS (4 acid digest, ICP MS
				finish)over-range Sb-Bi
Verification		The verification of significant intersections by		At least two company personnel verify all
of sampling		either independent or alternative company		significant results.

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
and assaying		personnel.		All geological mapping and sampling information
		The use of twinned holes.		is completed firstly on to paper maps and survey
		Documentation of primary data, data entry		books before being transferred to Microsoft Excel
		procedures, data verification, data storage		spreadsheets. All electronic field data is then
		(physical and electronic) protocols.		transferred into a Microsoft Access database for
		Discuss any adjustment to assay data.		validation and compilation. Physical maps and
				sampling data are returned to the Artemis head
				office for scanning and storage. Electronic copies
				of all information are backed up daily.
				No adjustments of assay data are considered
				necessary.
Location of		Accuracy and quality of surveys used to locate		A Garmin GPSMap62 hand-held GPS is used to
data points		drill holes (collar and down-hole surveys),		define the location of the rock chip sample
		trenches, mine workings and other locations		locations. Standard practice is for the GPS to track
		used in Mineral Resource estimation.		the location of the user constantly and the location
		Specification of the grid system used.		of the rock chip samples are recorded
		Quality and adequacy of topographic control.		electronically as ‘waypoints’ at the time of
				sampling. Sample locations are considered to be
				accurate to within 5m.
				Grid system used for Artemis Resources Ltd
				sampling is MGA 94 (Zone 50)
				Topographic control is obtained from surface
				profiles created by close spaced historical
				aeromagnetic survey data and calibrated with
				GPS surface measurements. It will be necessary
				to undertake more detailed topographic controls
				later in the program.
				Historical (Taipan Resources NL) locations were
				obtained by a handheld GPS using the AMG66
				coordinate system. Artemis has converted these
				locations to MGA94 using mining software
				(Mapinfo coordinate converter) before validating
				the data for storage in an Access database.
Data spacing		Data spacing for reporting of Exploration		Rock chip sampling has been completed on
and distribution		Results. Whether the data spacing and distribution is		specific geological targets during geological mapping activities.
		sufficient to establish the degree of geological		Data from rock chips will not be used in resource
		and grade continuity appropriate for the Mineral		and reserve estimations. Sampling is based on
		Resource and Ore Reserve estimation		specific geological targets to understand
		procedure(s) and classifications applied.		geochemical distribution.
		Whether sample compositing has been applied.		No sample compositingis used in this report.
Orientation		Whether the orientation of sampling achieves		Most rock chip samples have been obtained whilst
of data in relation to geological structure		unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.		conducting reconnaissance geological mapping which was seeking to identify mineralised structures/lodes.
		If the relationship between the drilling orientation		As the sampling was targeting specific lithologies,
		and the orientation of key mineralised structures		to understand the distribution of geochemistry
		is considered to have introduced a sampling		within different rock types and alteration types,
		bias, this should be assessed and reported if		there may be some bias in these samples.
		material.
Sample		The measures taken to ensure sample security.		The chain of custody is managed by the project
security				geologist whoplaces calico sample bags in

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
				polyweave sacks. Up to 10 calico sample bags are
				placed in each sack. Each sack is clearly labelled
				with:
				 Artemis Resources Ltd
				 Address of laboratory
				 Sample range
				Samples were delivered by Artemis personnel to
				the Paulsens mine site freight dispatch area in
				order to be loaded on the next available truck of a
				reputable freight provider. The freight provider
				delivers the samples directly to the laboratory.
				Detailed records are kept of all samples that are
				dispatched, including details of chain of custody.
Audits or		The results of any audits or reviews of sampling		No audit of sampling data has been completed to
reviews		techniques and data.		date but a review will be conducted once all data
				from ALS Laboratory (Perth and Brisbane) has
				been compared with umpire laboratory results of
				drill hole results from a drilling programme
				conducted contemporaneously with the rock chip
				sampling. Data is validated when loading into the
				database.

Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Mineral		Type, reference name/number, location and		M08/193 – 100% held by Artemis Resources
tenement and land tenure status		ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title		 Gold rights – Artemis 80%, joint venture with Northern Star Resources Ltd 20% E08/1841 – held 100% by Artemis Resources
		interests, historical sites, wilderness or national		The tenements are in good standing and no
		park and environmental settings.		known impediments exist (see map elsewhere
		The security of the tenure held at the time of		in this report for locations).
		reporting along with any known impediments to
		obtaining a licence to operate in the area.
Exploration		Acknowledgment and appraisal of exploration		Previous exploration of the Eastern Hills
done by other parties		by other parties.		Antimony-Lead Project was conducted in 1996- 97 by Taipan Resources NL. This exploration
				comprised geological mapping, rock and soil
				sampling plus two programmes of RC drilling.
				All exploration and analysis techniques
				conducted by Taipan Resources are considered
				to have been appropriate given the limited
				knowledge of the area and available techniques
				at the time.
Geology		Deposit type, geological setting and style of		The Eastern Hills antimony-lead deposit is a
		mineralisation.		fault/vein hosted subvertical structure and
				outcropping over a strike length of at least
				800m. Recent drilling identified mineralisation to
				at least 220m vertical depth. The deposit

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
				remains open along strike to the east and at
				depth.
				Mineralisation occurs as massive sulphides
				bounded by a broader zone of disseminated
				sulphides. Sulphide mineralogy consists of
				pyrite, boulangerite – a lead-antimony sulphide
				– and arsenopyrite with minor pyrrhotite,
				chalcopyrite and galena.
				The reconnaissance mapping that is the subject
				of this report has confirmed three new alteration
				zones (named Dugite, Gwardar & Tiger) which,
				given the currently available information, appear
				to be analogies of the Eastern Hills antimony-
				lead deposit geology (termed the ‘Taipan’
				Zone).
Drill hole		A summary of all information material to the		Not applicable.
Information		understanding of the exploration results
		including a tabulation of the following
		information for all Material drill holes:
		o easting and northing of the drill hole collar
		o elevation or RL (Reduced Level – elevation
		above sea level in metres) of the drill hole
		collar
		o dip and azimuth of the hole
		o down hole length and interception depth
		o hole length.
		If the exclusion of this information is justified on
		the basis that the information is not Material and
		this exclusion does not detract from the
		understanding of the report, the Competent
		Person should clearly explain why this is the
		case.
Data		In reporting Exploration Results, weighting		A lower cut-off grade of 1% Sb and/or 0.2 g/t Au
aggregation methods		averaging techniques, maximum and/or minimum grade truncations (eg cutting of high		have been used for assessing significant intercepts, and no upper cut-off grade was
		grades) and cut-off grades are usually Material		applied.
		and should be stated.		No metal equivalents are used for reporting.
		Where aggregate intercepts incorporate short
		lengths of high grade results and longer lengths
		of low grade results, the procedure used for
		such aggregation should be stated and some
		typical examples of such aggregations should
		be shown in detail.
		The assumptions used for any reporting of
		metal equivalent values should be clearly
		stated.
Relationship		These relationships are particularly important in		Not applicable
between mineralisation widths and intercept lengths		the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.
		If it is not known and only the down hole lengths

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
		are reported, there should be a clear statement
		to this effect (eg ‘down hole length, true width
		_not known’). _
Diagrams		Appropriate maps and sections (with scales)		Appropriate maps and sections are available in
		and tabulations of intercepts should be included		the body of this ASX announcement.
		for any significant discovery being reported
		These should include, but not be limited to a
		plan view of drill hole collar locations and
		appropriate sectional views.
Balanced		Where comprehensive reporting of all		Reporting of results in this report is considered
reporting		Exploration Results is not practicable,		balanced.
		representative reporting of both low and high
		grades and/or widths should be practiced to
		avoid misleading reporting of Exploration
		Results.
Other		Other exploration data, if meaningful and		No other significant exploration work has been
substantive exploration data		material, should be reported including (but not limited to): geological observations; geophysical		done by Artemis.
		survey results; geochemical survey results; bulk
		samples – size and method of treatment;
		metallurgical test results; bulk density,
		groundwater, geotechnical and rock
		characteristics; potential deleterious or
		contaminating substances.
Further work		The nature and scale of planned further work		Artemis has plans in place to follow-up this
		(eg tests for lateral extensions, depth		reconnaissance mapping and sampling with
		extensions or large-scale step-out drilling).		more detailed mapping during November 2013.
		Diagrams clearly highlighting the areas of		Results from this work will be announced when
		possible extensions, including the main		available.
		geological interpretations and future drilling
		areas, provided this information is not
		commercially sensitive.

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