Artemis Resources Limited — Capital/Financing Update 2013

Jun 3, 2013

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ASX Announcement 4[th] June 2013

About Artemis Resources

Artemis Resources is an ASX-listed mineral exploration company with a focus on gold and base metals in Western Australia.

Key Gold Projects

Mt Clement – gold & antimony (WA) Yandal – gold (WA) West Pilbara – gold/base metals (WA)

Artemis’ corporate strategy is to maximise shareholder returns through a combination of exploration success and quality project acquisitions.

The Company's focus on gold and base metals is viewed as an important growth strategy for the Company.

Australian Securities Exchange

Code: ARV

Artemis Contact

Guy Robertson Executive Director Tel: +61 2 9078 7670

James Moses Investor Relations Mob: 0420 991 574 james@mandatecorporate.com.au

www.artemisresources.com.au

High Grade Gold and Copper Targets Identified at West Pilbara Project

• Field assessment of highest priority targets o Carlow Castle Gold JORC compliant resource of 91,000 tonnes at 10 g/t Gold and 1.4% Copper

• Walk up drill targets with potential for massive (coppernickel) sulphides and gold mineralisation.

• Two high-order VTEM Gold/Base Metal targets within 2km of Carlow Castle

• Rock Chip results of up to 12.2% Cu, 1.54 g/t Au, & 20.8 g/t Ag

• Joint Venture and strategic partner discussions underway

• Negotiations proceeding regarding Native Title Agreement

Artemis Resources Limited (ASX: ARV) is pleased to provide an

update on recent progress at the Company’s West Pilbara project area.

The Company’s technical team recently conducted a field visit to its West Pilbara project area to further evaluate its gold (Au), copper (Cu), silver (Ag), nickel (Ni) and iron (Fe) potential. The region is under-explored and, in particular, the review focused on widespread gold/copper mineralisation at the Carlow Castle Project, which is viewed as a priority target.

Artemis is also engaged with several potential partners looking to invest in the West Pilbara project area (Figure 3), through farm-in or joint venture style agreements, to assist the Company explore its large and prospective project area.

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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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Carlow Castle Project

The Carlow Castle Project is a priority target, and is considered to have potential to increase the size of the delineated resource through drilling designed to test the continuity and extent of mineralisation at depth. Potential resource expansion along strike also needs further drill evaluation.

This high priority project forms a small part of Artemis’ tenement portfolio in the West Pilbara region, which consists of 41 tenements covering approximately 700 km[2] . The Company’s significant landholding was generated by its acquisition of Karratha Metals Ltd (KML) in June 2012.

Carlow Castle South

The central high grade core of gold-copper-cobalt mineralisation defined at Carlow Castle South occurs within a broader low grade mineralised halo.

The current Main Lode resource of 91,000 tonnes at 10 g/t Au and 1.4% Cu[1] is of particular interest to Artemis. Further drilling is proposed to determine the depth of this high grade mineralisation.

The previously reported Carlow Castle South resource currently stands at 1,331,000 tonnes at 1.38g/t Au, 0.56% Cu to 100m depth. Contained metal equates to approximately 57,000 ounces of gold and 7,470 tonnes of copper.

The Carlow Castle South resource is classified in accordance with the JORC (2004) Code as follows:

Main Lode : Indicated 30,000 tonnes @ 10.0g/t Au, 1.40% Cu from surface to 30m depth Inferred 61,000 tonnes @ 10.0g/t Au, 1.40% Cu from 30 to 100m depth Total 91,000 tonnes @ 10.0% Au, 1.40% Cu from surface to 100m depth . Halo : Inferred 1,240,000 tonnes @ 0.75g/t Au, 0.50% Cu from surface to 100m depth.

Company geologists also visited the Chapman and Thorp Prospects where Versatile Time Domain Electromagnetic (VTEM) and ground Fixed Loop Transient Electromagnetic (FLTEM) surveys have outlined several bedrock conductors. These priority conductors provide immediate walk up drill targets for Artemis with potential for massive (copper-nickel) sulphides and associated gold mineralisation.

Chapman

This area is located 1km southeast of the Carlow Castle copper-gold workings and coincides with historic copper-gold workings hosted in gabbro of the Andover Intrusive Complex. The VTEM-2 anomaly trends west-northwest with a strike length of 600m and extends well beyond the limit of the workings (see Figure 2 below). The FLTEM survey (6 lines) identified two shallow, discrete bedrock conductors at depths of 40m and 60m respectively, with both conductors dipping shallowly 25-35[0] to the north.

Historic rockchip sampling of mullock dumps, with visible copper mineralisation, are assisting Artemis in evaluating the nickel and gold potential of the workings. Results from samples taken at the Chapman prospect indicate a strong Cu-Au-Ag-Ni-Co association, as summarised in Table 1 below.

1 Refer to Legend Mining Limited (LEG) ASX Announcements: Second Quarter Activities Report release dated 31/07/2001, and 2002 Annual Report ASX release dated 29/04/2003

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Table 1: Chapman Prospect – Historic Rockchip Results

Table 1: Chapman Prospect – Historic Rockchip Results	Table 1: Chapman Prospect – Historic Rockchip Results	Table 1: Chapman Prospect – Historic Rockchip Results	Table 1: Chapman Prospect – Historic Rockchip Results	Table 1: Chapman Prospect – Historic Rockchip Results	Table 1: Chapman Prospect – Historic Rockchip Results	Table 1: Chapman Prospect – Historic Rockchip Results
Sample	Prospect	Cu %	Au g/t	Ni %	Ag g/t	Co %
PSO161	Chapman	0.26	0.96	0.15	9.9	0.17
PSO162	Chapman	12.20	1.54	0.36	20.8	0.25
LPRK002	NW Chapman	2.35	1.18	0.07	-	0.19
LPRK003	Chapman	6.23	2.21	0.19	-	0.16
LPRK008	Chapman	8.82	5.59	0.19	-	-

Thorp

This prospect is located 2km southeast of the Carlow Castle copper-gold workings and like the Chapman Prospect coincides with historic copper-gold workings hosted in gabbro of the Andover Intrusive Complex. The VTEM-2 anomaly comprises three discrete features (see Figure 2 below). The follow-up FLTEM survey (8 lines) identified two bedrock conductors; the first at a depth of 100m from surface and dipping 60[0] northnorthwest and the second at a depth of 40m from surface with a dip of 40[0] to the north.

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Figure 1: Copper Oxide Mineralisation in Mullock Dumps at Carlow Castle

The field validation by Artemis has confirmed that the Carlow Castle project area has the potential to host numerous copper-nickel and associated gold resources within a contained area.

Artemis now plans to re-evaluate geophysical information from the area to look for possible repeats to the Carlow Castle South, Chapman and Thorp prospects with the objective of designing a reverse circulation drilling programme.

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Figure 2: Artemis Resources – Carlow Castle South VTEM Targets

Joint Venture Funding Discussions Underway

The Company is engaged in discussions with several potential partners who are looking to invest in the West Pilbara project area (Figure 3) (through farm-in or joint venture style agreements), to assist it explore this large and prospective area. These negotiations are ongoing and confidential in nature, and further details will be provided in due course as negotiations progress to a more advanced stage.

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Native Title Agreement negotiations

The Company recently conducted a positive meeting with the Ngarluma Aboriginal Corporation (NAC), the governing body for Native Title over land the Ngarluma people are the traditional owners of.

At this meeting good progress was made in defining the needs of both parties, and ways in which exploration of Artemis’ West Pilbara project area may progress without negatively impacting the land of the Ngarluma people. Both parties remain committed to negotiating a Native Title Agreement which not only complies with the relevant native title legislation but more importantly fosters an open approach to social and economic opportunities for the Ngarluma people and Artemis Resources.

It is hoped that a negotiated agreement can be completed rapidly.

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Figure 3: Artemis Resources – Key West Pilbara Base and Precious Metal Prospects

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ABOUT ARTEMIS RESOURCES

Artemis Resources Limited is a resources exploration company with a focus on its prospective Mt Clement, Yandal and West Pilbara projects in Western Australia. These projects have significant exploration potential and close proximity to existing important deposits or producing mines. While Artemis’ main objective is gold, other important metals such as antimony-lead (Eastern Hills), copper-silver (Mt Clement), nickel-copperPGEs-iron ore (West Pilbara) provide additional prospectivity to these projects. Artemis aims to develop a significant gold/metals inventory through exploration and acquisitions which have the potential to become mines and create shareholder value.

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

Competent Person Statements

The information in this document that relates to Exploration Results and Mineral Resources is based on information compiled or reviewed by Mr Warrick Clent, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Clent is a consultant to the Company, and is employed by Mining Management Consultants Pty Ltd. Mr Clent 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 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Clent consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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