Artemis Resources Limited — Capital/Financing Update 2017

Nov 1, 2017

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2 November 2017

Amendment to ASX Announcement dated 23 October 2017 - Mt OscarWits Conglomerate Gold Confirmed Over 14km

The attached announcement has been amended to include a Competent Persons Statement on page 4 which had been omitted from the announcement made on 23 October 2017, in error.

Guy Robertson Company Secretary

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Artemis Resources Limited ABN: 80 107 051 749 Telephone: +61 8 9480 0459 | Facsimile: +61 2 9078 7661 | Email: info@artemisresources.com.au IBM Building Level 3, 1060 Hay Street, PERTH WA 6005 | PO Box R933 Royal Exchange, NSW 1225 Australia

www.artemisresources.com.au

ASX / Media Announcement

23 October 2017

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Artemis Resources Limited ARBN: 80 107 051 749

Level 3, IBM Building, 1060 Hay Street, West Perth, WA Australia, 6006

PO Box R933 Royal Exchange NSW Australia, 1225

Phone: +61 2 9078 7670 Facsimile: +61 2 9078 7661 Email: info@artemisresources.com.au Website: artemisresources.com.au

Directors:

Executive Chairman David Lenigas

Executive Directors Ed Mead Alex Duncan-Kemp

Mt OscarWits Conglomerate Gold Confirmed Over 14km -Karratha, Western Australia-

• Anomalous gold mineralisation now confirmed over 14km strike length.

• Conglomerate rock chip samples up to 15.3 g/t Au and stream sediments up to 1.37 g/t Au.

• Six new strongly anomalous gold areas have now been mapped in detail over a 5km strike length associated with conglomerates below the Mt Roe Basalts.

• Geological mapping shows continuity of prospective conglomerate units.

• Mt OscarWits is 100% owned by Artemis, and is not included in the Novo Resources Corp. farm-in and Joint Venture arrangements.

David Lenigas, Artemis’s Executive Chairman, commented;

“It’s early days on this very exciting development on our 100% owned Mt OscarWits Project. We are now seeing consistent stream sedimentary gold hits over what is now a 14km strike trend. We have also seen gold grades in some of these conglomerates below the Mt Roe Basalts up to 15.5 g/t gold, and we are seeing stream sedimentary results up to almost double what was originally seen at Purdy’s Reward using the same techniques. Mt OscarWits is a fully approved licence and we are continuing with our exploration efforts here.”

Artemis Resources Limited (“ Artemis ” or “ the Company ”) ( ASX: ARV ) announces it has commenced exploration along the Mt OscarWits conglomerate trend, with east-west strike of 14km, which is now mapped in detail over a 5km strike. The granted exploration tenement (E47/1217, Figure 3) is an approved Exploration Licence, and is located about 35km south-east of Karratha and 16km north-east of the Company’s new Purdy’s Reward conglomerate hosted gold project.

Mt OscarWits Exploration Programme:

Company Secretary: Guy Robertson

Corporate Information ASX Code: ARV

A detailed stream sediment sampling program has been completed along the eastwest 14km strike between Fairmont and White Quartz Well, with 6 new anomalous areas for gold being identified, along conglomerate horizons below the Mt Roe Basalt. Detailed mapping has now been completed over a cumulative 5km strike of conglomerates.

Results just received from rock chip sampling of conglomerate horizons in conjunction with detailed geological mapping of the area has extended the strike length of the Landau prospective zone and has identified an entirely new target area called Zephyr (Refer Figures 1 and 2). Highest rock chip assay result in conglomerates from Landau returned 15.3 g/t Au. Work in this area is ongoing.

Geological mapping is still ongoing and the rock chip sampling programme has now been expanded to systematically assess further gold potential of the sedimentary sequences in the area.

Mapping to date has shown that the gold bearing conglomerate units appear to be far more extensive than previously indicated. The north dipping Landau zone, identified by previous rock chip and soil sampling, appeared to be about 200m in strike.

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This has been extended to approximately 500 metres, with an anomalous stream sediment sample a further 300 metres a long strike, giving a total strike of 800 metres.

Geological mapping has also identified a parallel north dipping conglomerate zone approximately 1km to the northeast of Landau. This new unit has been named Zephyr and has been mapped over a 1km strike length and contains rock chip results up to 4.69 g/t Au. Work in this new area is ongoing.

Figure 1: Mt OscarWits prospective conglomerate sequence stretching 14km across the Fairmont, Landau and White Quartz Hill Prospects. 5km of mapped exposure to date.

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Figure 2: Enlargement of the central area of Figure 1, showing rock chip and anomalous stream sediment results.

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Stream Sediment Sampling Programme:

This recent stream sediment sampling at Mt OscarWits has proved to be highly effective, particularly with the strongly incised drainage system. A total of 274 samples (Table 4) were submitted for analysis including QA/QC; each sample was collected from approximately 20cm depth in the creek gravels and sieved onsite to -2mm with approximately 400gm submitted for low level gold and multi-element analysis. Samples were pulverized to -75micron and analyzed using a 50gm sample charge to an aquaregia digest with gold determination by ICP MS. Artemis used ALS Global in Perth, Western Australia.

Table 1: Summary of Mt OscarWits Stream Sediments results.

			Gold Assays g/t Au	Gold Assays g/t Au	Gold Assays g/t Au	Gold Assays g/t Au	Gold Assays g/t Au	Gold Assays g/t Au	Gold Assays g/t Au
Assay	Samples	Element	min	75th Percentile	90th Percentile	95th Percentile	99th Percentile	Max	Range
“-2mm AuME-ST44”	266	Au g/t	0.0001	0.0025	0.0046	0.0184	0.7723	1.37	1.37

The Mt OscarWits program was based directly on exploration methods used on a stream sediment orientation sampling programme at Purdy’s Reward. The maximum gold in the -2mm sample fraction using this ALS Global analytical technique at Purdy’s Reward was 0.71 g/t Au (Table 2), the maximum value at Mt OscarWits to date is 1.37g/t Au (Table 1).

Table 2: Summary of Purdy’s Reward Orientation Steam Sediment results.

					Gold Assays g/t Au	Gold Assays g/t Au	Gold Assays g/t Au
Assay	Samples	Element	min	75th Percentile	90th Percentile	95th Percentile	99th Percentile	Max	Range
“-2mm AuME-ST44”	5	Au g/t	0.002	0.0089	0.4296	0.5698	0.682	0.71	0.698

Figure 4: Artemis Resources Projects in Karratha Area.

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CONTACTS:

For further information on this update or the Company generally, please visit our website at www.artemisresources.com.au or contact:

Investors / Shareholders

Edward Mead Executive Director Telephone: +61 407 445 351 Email: Ed.Mead@artemisresources.com.au

BACKGROUND INFORMATION ON ARTEMIS RESOURCES:

Artemis Resources Limited is a resources exploration and development company with a focus on its prospective Karratha (gold, cobalt, base metals, platinum group elements and iron ore) and the Mt Clement Paulsens (gold) project in Western Australia.

Artemis owns the fully permitted 425,000tpa Radio Hill nickel and copper operations and processing plant located 25km south of Karratha. JORC 2004 compliant resources of Gold, Nickel, Copper PGE's and Zinc, all situated within a 40km radius of the Radio Hill plant and on 1,536km[2] form the newly consolidated assets of Artemis Resources.

Artemis have signed Definitive Agreements with Novo Resources Corp. (“Novo”), whereby Novo can farm-in to 50% of gold (and other minerals necessarily mined with gold) in conglomerate and/or paleoplacer style mineralization in Artemis’ tenements within 100km of the City of Karratha, including at Purdy’s Reward (“the Gold Rights”). The Gold Rights do not include (i) gold disclosed in Artemis’ existing (at 18 May 2017) JORC compliant Resources and Reserves or (ii) gold which is not within conglomerate and/or paleoplacer style mineralization or (iii) minerals other than gold. Artemis’ Mt Oscar tenement is excluded from the Definitive Agreements.

The farm-in commitment now requires Novo to expend AUD $2 million on exploration within two years of satisfying conditions precedent in the definitive agreements.

The Definitive Agreements cover 38 tenements/tenement applications that are 100% owned by Artemis. On completion of the farm-in commitment, three 50:50 joint ventures will be formed between Novo’s subsidiary, Karratha Gold Pty Ltd (“Karratha Gold”) and three subsidiaries of Artemis. The joint ventures will be managed as one by Karratha Gold. Artemis and Novo will contribute to further exploration and mining of the Gold Rights on a 50:50 basis. Further definitive agreements covering approximately 19 Artemis tenements/tenement applications that are already subject to third party interests are expected to be signed once all necessary third-party consents have been obtained.

COMPETENT PERSONS STATEMENT

The information in this document that relates to Exploration Results and Exploration Targets is based on information compiled or reviewed by Allan Younger, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Younger is a consultant to the Company, and is employed by Indigo Geochemistry Pty Ltd. Mr Younger 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 Younger 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 AND IMPORTANT NOTICE:

This report contains forecasts, projections and forward-looking information. Although the Company believes that its expectations, estimates and forecast outcomes are based on reasonable assumptions it can give no assurance that these will be achieved. Expectations, estimates and projections and information provided by the Company 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

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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.

Investors should make and rely upon their own enquiries before deciding to acquire or deal in the Company’s securities.

Table 3: Mt OscarWits – Conglomerate Rock Chip Gold Assay Results (Datum Mga_50).

SAMPLE	Prospect	East (m)	North (m)	Au (ppm)
MOR01	Landau	520216	7687312	0.01
MOR02	Landau	520216	7687312	0.01
MOR03	Landau	520216	7687312	0.01
MOR04	Landau	520252	7687275	1.09
MOR05	Landau	520163	7687364	0.01
MOR06	Zephyr	522114	7687488	0.02
MOR07	Zephyr	522362	7687410	0.01
MOR08	Zephyr	522557	7687308	0.01
MOR09	Zephyr	521179	7687595	0.005
MOR010	Zephyr	521129	7687610	0.01
MOR011	Qtz Vn	529864	7688303	0.005
MOR012	Qtz Vn	529857	7688285	0.005
MOR013	Qtz Vn	529833	7688272	0.005
MOR014	Falcon	527170	7687831	0.02
MOR015	Falcon	526898	7687741	0.005
MOR016	Falcon	526846	7687694	0.03
MOR017	Fairmont	516799	7688049	0.37
MOR018	Fairmont	516816	7688052	0.01
MOR019	Fairmont	516856	7688051	0.08
MOR020	Fairmont	516884	7688044	0.11
MOR021	Fairmont	516884	7688055	0.06
MOR022	Fairmont	516937	7688076	0.14
MOR023	Fairmont	516965	7688082	0.06
MOR024	Fairmont	517095	7688104	0.01
MOR025	Fairmont	517129	7688095	0.04
MOR026	Falcon	526889	7687663	0.01
MOR027	Falcon	526875	7687694	0.02
MOR028	Falcon	526853	7687700	0.02
MOR030	Falcon	526895	7687740	0.01
MOR031	Falcon	526919	7687759	0.01
MOR032	Falcon	527061	7687777	0.02
MOR033	Falcon	527104	7687803	0.23
MOR034	Falcon	527139	7687826	0.05
MOR035	Falcon	527166	7687827	0.01
MOR036	Landau	520083	7687356	0.01
MOR037	Landau	520121	7687352	1.06
MOR038	Landau	520155	7687361	0.01
MOR039	Landau	520188	7687348	0.29
MOR040	Landau	520203	7687315	15.3
MOR041	Landau	520232	7687284	0.01
MOR042	Landau	520280	7687261	0.05
MOR043	Landau	520338	7687292	0.01
MOR044	Landau	520547	7687239	0.02

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SAMPLE	Prospect	East (m)	North (m)	Au (ppm)
MOR045	Landau	520614	7687191	7.33
MOR046	Landau	520673	7687152	0.42
MOR047	Landau	520723	7687126	0.02
MOR048	Landau	520797	7687080	0.46
MOR049	Landau	520856	7687048	0.005
MOR050	Zephyr	521377	7687607	0.01
MOR051	Zephyr	521441	7687580	0.005
MOR052	Zephyr	521475	7687583	4.69
MOR053	Zephyr	521530	7687608	0.01
MOR054	Zephyr	521596	7687641	0.01
MOR055	Zephyr	521621	7687614	0.1
MOR056	Zephyr	521636	7687597	0.2
MOR057	Zephyr	521645	7687552	0.11
MOR058	Zephyr	521675	7687563	0.3
MOR059	Zephyr	521708	7687607	0.56
MOR060	Zephyr	521755	7687626	0.03
MOR061	Zephyr	521790	7687637	0.01
MOR062	Zephyr	521832	7687652	0.005
MOR063	Zephyr	521861	7687615	0.34
MOR064	Zephyr	521894	7687587	0.03
MOR065	Zephyr	521932	7687549	0.11
MOR066	Zephyr	521989	7687574	0.02
MOR067	Zephyr	522012	7687553	0.02
MOR068	Zephyr	522036	7687562	0.01
MOR069	Zephyr	522072	7687565	0.005
MOR070	Zephyr	522084	7687531	0.01
MOR071	Zephyr	522107	7687499	0.005
MOR072	Zephyr	522130	7687508	0.01
MOR073	Zephyr	522174	7687541	0.005
MOR074	Zephyr	522225	7687540	0.01
MOR075	Zephyr	522249	7687495	0.24
MOR076	Zephyr	522285	7687448	0.02
MOR077	Zephyr	522316	7687418	0.01
MOR078	Zephyr	522363	7687409	0.01
MOR079	Zephyr	522401	7687396	0.01
MOR080	Zephyr	522446	7687350	0.16
MOR081	Zephyr	522486	7687321	0.01
MOR082	Zephyr	522533	7687305	0.94
MOR083	Zephyr	522566	7687328	0.22
M03	Fairmont	516890	7688052	0.35

Table 4: Mt OscarWits and Purdys Stream Sediment Sampling Results

SAMPLE	Prospect	East (m)	North (m)	Au (ppm)
MW001	Mt OscarWits	516155	7686058	0.0014
MW002	Mt OscarWits	515943	7685965	0.0009
MW003	Mt OscarWits	515853	9686318	0.0009
MW004	Mt OscarWits	516485	7686597	0.0007
MW005	Mt OscarWits	516023	7686557	0.001
MW006	Mt OscarWits	515987	7686641	0.0015
MW007	Mt OscarWits	516499	7688017	0.0008
MW008	Mt OscarWits	516590	7688006	0.0047
MW009	Mt OscarWits	516799	7688276	0.684
MW010	Mt OscarWits	516977	7688153	0.0018
MW011	Mt OscarWits	517160	7688242	0.0022
MW012	Mt OscarWits	517291	7688237	0.0029
MW013	Mt OscarWits	517414	7688052	0.0005

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SAMPLE	Prospect	East (m)	North (m)	Au (ppm)
MW014	Mt OscarWits	517623	7688252	0.0012
MW015	Mt OscarWits	517778	7688283	0.001
MW016	Mt OscarWits	517815	7688089	0.0007
MW017	Mt OscarWits	518140	7688118	0.0007
MW018	Mt OscarWits	518147	7688225	0.0006
MW019	Mt OscarWits	518533	7687966	0.0005
MW020	Mt OscarWits	518606	7687926	0.0007
MW021	Mt OscarWits	518617	7687993	0.0009
MW022	Mt OscarWits	518957	7688062	0.0005
MW023	Mt OscarWits	519102	7688126	0.0012
MW024	Mt OscarWits	519272	7688205	0.0006
MW025	Mt OscarWits	519321	7688205	0.0005
MW027	Mt OscarWits	519415	7688313	0.0003
MW028	Mt OscarWits	519668	7688075	0.0002
MW029	Mt OscarWits	519734	7688050	0.0008
MW030	Mt OscarWits	519930	7687923	0.0006
MW031	Mt OscarWits	519930	7687909	0.0003
MW032	Mt OscarWits	519933	7687882	0.0006
MW033	Mt OscarWits	519519	7687898	0.0001
MW034	Mt OscarWits	519329	7688185	0.0004
MW035	Mt OscarWits	519640	7688232	0.0005
MW036	Mt OscarWits	519801	7688341	0.0007
MW037	Mt OscarWits	520057	7688399	0.0009
MW038	Mt OscarWits	520099	768836	0.0009
MW039	Mt OscarWits	520207	7688187	0.0003
MW040	Mt OscarWits	520230	7688125	0.0007
MW041	Mt OscarWits	520119	7688062	0.0008
MW042	Mt OscarWits	520128	7688082	0.0002
MW043	Mt OscarWits	520050	7687804	0.0006
MW044	Mt OscarWits	520032	7687789	0.0019
MW045	Mt OscarWits	520104	7687809	0.001
MW046	Mt OscarWits	519938	7687670	0.0018
MW047	Mt OscarWits	519938	7687644	0.0028
MW048	Mt OscarWits	520104	7687758	0.0014
MW049	Mt OscarWits	520066	7687547	0.001
MW050	Mt OscarWits	520067	7687525	0.0009
MW053	Mt OscarWits	520019	7687439	0.0012
MW054	Mt OscarWits	520275	7687816	0.0006
MW055	Mt OscarWits	520309	7687782	0.0011
MW056	Mt OscarWits	520204	7687697	0.0015
MW057	Mt OscarWits	520269	7687785	0.0011
MW058	Mt OscarWits	520310	7687626	0.0008
MW059	Mt OscarWits	520186	7687382	0.0008
MW060	Mt OscarWits	520136	7687263	0.0009
MW061	Mt OscarWits	520357	7687234	0.0006
MW062	Mt OscarWits	520412	7687306	0.0069
MW065	Mt OscarWits	520433	7687305	0.0024
MW066	Mt OscarWits	520484	7687225	0.0011
MW067	Mt OscarWits	520608	7687254	0.0026
MW068	Mt OscarWits	520533	7687543	0.0016
MW069	Mt OscarWits	520520	7687545	0.0015
MW070	Mt OscarWits	520490	7688677	0.0009
MW071	Mt OscarWits	520519	7688694	0.0013
MW072	Mt OscarWits	520476	7688521	0.0006
MW073	Mt OscarWits	520499	7688384	0.0007
MW074	Mt OscarWits	520541	7688368	0.0049
MW075	Mt OscarWits	520544	7688346	0.0009

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SAMPLE	Prospect	East (m)	North (m)	Au (ppm)
MW077	Mt OscarWits	520561	7688065	0.0004
MW078	Mt OscarWits	520585	7688043	0.0008
MW079	Mt OscarWits	520680	7687864	0.0271
MW080	Mt OscarWits	520656	7687809	0.0009
MW081	Mt OscarWits	520634	7687803	0.0012
MW082	Mt OscarWits	520626	7687605	0.0014
MW083	Mt OscarWits	520905	7687611	0.0007
MW084	Mt OscarWits	520911	7687642	0.0119
MW085	Mt OscarWits	521080	7687469	0.0144
MW086	Mt OscarWits	521147	7687319	0.0021
MW087	Mt OscarWits	521191	7687386	0.0006
MW088	Mt OscarWits	521035	7687011	0.0018
MW089	Mt OscarWits	520934	7686987	0.0008
MW090	Mt OscarWits	520934	7687006	0.0015
MW091	Mt OscarWits	520961	7687028	0.795
MW092	Mt OscarWits	520882	7688266	0.0053
MW093	Mt OscarWits	520855	7688245	0.0013
MW094	Mt OscarWits	520973	7688233	1.37
MW095	Mt OscarWits	521079	7688000	0.0119
MW096	Mt OscarWits	521233	7688021	0.0019
MW097	Mt OscarWits	521285	7688037	0.0026
MW098	Mt OscarWits	521238	7688152	0.0032
MW099	Mt OscarWits	521244	7688180	0.43
MW100	Mt OscarWits	521298	7688213	0.0033
MW103	Mt OscarWits	521276	7688213	0.004
MW104	Mt OscarWits	521534	7688229	0.0025
MW105	Mt OscarWits	521565	7688258	0.0022
MW106	Mt OscarWits	521574	7688246	0.0014
MW107	Mt OscarWits	521720	7688262	0.0024
MW108	Mt OscarWits	521702	7688221	0.0019
MW109	Mt OscarWits	521705	7688280	0.0016
MW110	Mt OscarWits	521668	7688297	0.0017
MW111	Mt OscarWits	521701	7688434	0.0011
MW112	Mt OscarWits	521013	7688210	0.0208
MW113	Mt OscarWits	521004	7688202	0.0024
MW114	Mt OscarWits	521042	7688082	0.0015
MW115	Mt OscarWits	521067	7688727	0.0007
MW116	Mt OscarWits	521236	7688404	0.0017
MW117	Mt OscarWits	521201	7688469	0.0008
MW118	Mt OscarWits	521229	7688861	0.0011
MW119	Mt OscarWits	521356	7688885	0.0012
MW120	Mt OscarWits	521288	7689002	0.0014
MW121	Mt OscarWits	521247	7689102	0.0009
MW122	Mt OscarWits	521311	7689179	0.001
MW123	Mt OscarWits	521416	7689194	0.0016
MW124	Mt OscarWits	521622	7689045	0.0015
MW125	Mt OscarWits	521713	7689014	0.0019
MW127	Mt OscarWits	521804	7689042	0.0014
MW128	Mt OscarWits	521905	7689046	0.0026
MW129	Mt OscarWits	521961	7688892	0.0015
MW130	Mt OscarWits	521880	7688571	0.0029
MW131	Mt OscarWits	521627	7688753	0.0009
MW132	Mt OscarWits	521472	7688740	0.001
MW133	Mt OscarWits	521352	7687814	0.0021
MW134	Mt OscarWits	521373	7687821	0.0022
MW135	Mt OscarWits	521539	7687624	0.0022
MW136	Mt OscarWits	521526	7687636	0.0173

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SAMPLE	Prospect	East (m)	North (m)	Au (ppm)
MW137	Mt OscarWits	521538	7687582	0.0008
MW138	Mt OscarWits	521589	7687676	0.0036
MW139	Mt OscarWits	521614	7687712	0.0188
MW142	Mt OscarWits	521808	7687667	0.0014
MW143	Mt OscarWits	521812	7687565	0.0011
MW144	Mt OscarWits	521795	7687567	0.0011
MW145	Mt OscarWits	521815	7687677	0.0038
MW146	Mt OscarWits	521972	7687657	0.0026
MW147	Mt OscarWits	522161	7687578	0.0019
MW148	Mt OscarWits	522199	7687460	0.0009
MW149	Mt OscarWits	522261	7687605	0.0022
MW150	Mt OscarWits	522182	7687574	0.0025
MW153	Mt OscarWits	521294	7687176	0.328
MW154	Mt OscarWits	521325	7687201	0.0033
MW155	Mt OscarWits	521611	7687316	0.0009
MW156	Mt OscarWits	521618	7687348	0.0009
MW157	Mt OscarWits	521756	7687320	0.0007
MW158	Mt OscarWits	522047	7687323	0.0008
MW159	Mt OscarWits	522243	7687249	0.0013
MW160	Mt OscarWits	522747	7687196	0.0036
MW161	Mt OscarWits	522720	7687216	0.0028
MW162	Mt OscarWits	522970	7686960	0.001
MW163	Mt OscarWits	522344	7687502	0.0033
MW166	Mt OscarWits	522173	7689288	0.0011
MW167	Mt OscarWits	522467	7689308	0.0009
MW168	Mt OscarWits	522450	7689224	0.0008
MW169	Mt OscarWits	522348	7689166	0.0022
MW170	Mt OscarWits	522694	7688877	0.0045
MW171	Mt OscarWits	522752	7688845	0.0033
MW172	Mt OscarWits	522712	7688611	0.0012
MW173	Mt OscarWits	522758	7688612	0.0025
MW174	Mt OscarWits	522552	7688447	0.001
MW175	Mt OscarWits	522544	7688445	0.0013
MW177	Mt OscarWits	522227	7688337	0.0013
MW178	Mt OscarWits	522209	7688515	0.0036
MW179	Mt OscarWits	522296	7688600	0.0012
MW180	Mt OscarWits	522305	7688674	0.355
MW181	Mt OscarWits	522332	7688806	0.0045
MW182	Mt OscarWits	522607	7688785	0.0256
MW183	Mt OscarWits	522570	7688032	0.0265
MW184	Mt OscarWits	522304	7688032	0.0012
MW185	Mt OscarWits	522683	7687689	0.0017
MW186	Mt OscarWits	522795	7687650	0.0012
MW187	Mt OscarWits	523202	7688021	0.0013
MW188	Mt OscarWits	523229	7688075	0.0026
MW189	Mt OscarWits	523200	7688271	0.003
MW190	Mt OscarWits	523367	7688329	0.0018
MW191	Mt OscarWits	523625	7688385	0.0031
MW192	Mt OscarWits	523821	7688396	0.0015
MW193	Mt OscarWits	523951	7688590	0.0009
MW194	Mt OscarWits	523081	7688492	0.0011
MW195	Mt OscarWits	522860	7688260	0.0034
MW196	Mt OscarWits	522881	7688233	0.76
MW197	Mt OscarWits	522754	7688137	0.0048
MW198	Mt OscarWits	523967	7689037	0.0021
MW199	Mt OscarWits	524711	7688532	0.0034
MW200	Mt OscarWits	524702	7688533	0.0021

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SAMPLE	Prospect	East (m)	North (m)	Au (ppm)
MW202	Mt OscarWits	524702	7688533	0.942
MW203	Mt OscarWits	524941	7688446	0.0039
MW204	Mt OscarWits	524901	7688405	0.002
MW205	Mt OscarWits	524862	7688188	0.0022
MW206	Mt OscarWits	524938	7688092	0.0025
MW207	Mt OscarWits	524606	7688542	0.004
MW208	Mt OscarWits	524595	7688556	0.0016
MW209	Mt OscarWits	524417	7688506	0.002
MW210	Mt OscarWits	524327	7688533	0.0025
MW211	Mt OscarWits	524168	7688480	0.0022
MW212	Mt OscarWits	524116	7688396	0.0024
MW213	Mt OscarWits	523107	7689129	0.0017
MW214	Mt OscarWits	522603	7689471	0.0025
MW215	Mt OscarWits	523584	7687901	0.001
MW216	Mt OscarWits	523732	7687558	0.0017
MW217	Mt OscarWits	523883	7687472	0.0012
MW218	Mt OscarWits	523901	7687493	0.0013
MW219	Mt OscarWits	523992	7687366	0.0013
MW220	Mt OscarWits	524042	7687381	0.0014
MW221	Mt OscarWits	523720	7687273	0.0008
MW222	Mt OscarWits	523588	7687194	0.0016
MW223	Mt OscarWits	531088	7689249	0.0023
MW224	Mt OscarWits	531173	7689249	0.0018
MW225	Mt OscarWits	531296	7688785	0.0017
MW227	Mt OscarWits	531158	7688581	0.0038
MW228	Mt OscarWits	530518	7688486	0.0027
MW229	Mt OscarWits	530277	7688529	0.0023
MW230	Mt OscarWits	529787	7688368	0.0018
MW231	Mt OscarWits	529371	7688188	0.011
MW232	Mt OscarWits	529291	7687806	0.0027
MW233	Mt OscarWits	529343	7688252	0.0058
MW234	Mt OscarWits	528696	7688319	0.0025
MW235	Mt OscarWits	528983	7687961	0.0035
MW236	Mt OscarWits	528357	7687455	0.0014
MW237	Mt OscarWits	528264	7687980	0.0015
MW238	Mt OscarWits	529058	7688739	0.0575
MW239	Mt OscarWits	527130	7688027	0.0014
MW240	Mt OscarWits	527335	7687862	0.0015
MW241	Mt OscarWits	526891	7687498	0.0015
MW242	Mt OscarWits	526456	7687772	0.0017
MW243	Mt OscarWits	526563	7687987	0.0021
MW244	Mt OscarWits	526574	7688209	0.0015
MW245	Mt OscarWits	526641	7688237	0.0018
MW246	Mt OscarWits	526700	7688374	0.0014
MW247	Mt OscarWits	526593	7688565	0.0013
MW248	Mt OscarWits	526134	7688473	0.0012
MW249	Mt OscarWits	526118	7688281	0.001
MW250	Mt OscarWits	526032	7688114	0.0015
MW253	Mt OscarWits	525838	7687914	0.0032
MW254	Mt OscarWits	525297	7688275	0.0019
MW255	Mt OscarWits	525515	7688477	0.0017
MW256	Mt OscarWits	525497	7688507	0.0013
MW257	Mt OscarWits	525380	7688632	0.002
MW258	Mt OscarWits	519672	7687582	0.0007
MW259	Mt OscarWits	523882	7687932	0.0017
MW260	Mt OscarWits	523892	7687697	0.0014
MW261	Mt OscarWits	524299	7687722	0.0009

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SAMPLE	Prospect	East (m)	North (m)	Au (ppm)
MW262	Mt OscarWits	524380	7687706	0.0022
MW263	Mt OscarWits	524261	7687773	0.0009
MW264	Mt OscarWits	523300	7687328	0.0014
MW265	Mt OscarWits	523300	7687076	0.0017
MW266	Mt OscarWits	524340	7687385	0.002
MW267	Mt OscarWits	524545	7687477	0.0016
MW268	Mt OscarWits	524771	7687865	0.0007
MW269	Mt OscarWits	524592	7687878	0.0034
MW270	Mt OscarWits	524513	7687852	0.0022
MW271	Mt OscarWits	524514	76987820	0.0019
MW272	Mt OscarWits	524540	7688035	0.0109
MW273	Mt OscarWits	524338	7688006	0.0012
MW274	Mt OscarWits	524304	7688004	0.002
AP0069	Purdys	502220	7676663	0.0089
AP0070	Purdys	502265	7676751	0.71
AP0071	Purdys	502127	7676811	0.0088
AP0072	Purdys	502027	7676917	0.0035
AP0073	Purdys	502352	7677785	0.002

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JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Sampling	•	Nature and quality of sampling (eg cut	•	Rock chip sampling of outcrops
techniques		channels, random chips, or specific	•	Stream sediment sampling
		specialised industry 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
		limiting the broad meaning of sampling.
	•	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,	•	Drilling not being reported
techniques		open-hole 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	•	Not drilling results.
recovery		and 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	•	Rock chip samples were geologically logged
		been geologically and geotechnically		when collected.
		logged to a level of detail to support	•	General observations only with stream sediment
		appropriate Mineral Resource		sampling
		estimation, mining studies and
		metallurgical studies.
	•	Whether logging is qualitative or
		quantitative in nature. Core (or costean,
		channel, etc.) photography.
	•	The total length and percentage of the
		_relevant intersections logged. _
Sub-	•	If core, whether cut or sawn and	•	No sub sampling as no drilling related samples.
sampling		whetherquarter, half or all core taken.

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
techniques	•	If non-core, whether riffled, tube
and sample		sampled, rotary split, etc. and whether
preparation		sampled wet or dry.
	•	For all sample types, the nature, quality
		and appropriateness of the sample
		preparation technique.
	•	Quality control procedures adopted for
		all sub-sampling stages to maximise
		representivity of 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	•	ALS Global Laboratories (Perth) were used for
assay data		of the assaying and laboratory		the analysis work carried out on both sets of
and		procedures used and whether the		samples.
laboratory		technique is considered partial or total.	•	Rock Chip sample Analytical techniques below:
tests	•	For geophysical tools, spectrometers,
		handheld XRF instruments, etc., the
		parameters used in determining the
		analysis including instrument make and
		model, reading times, calibrations
		factors applied and their derivation, etc.
	•	Nature of quality control procedures
		adopted (eg standards, blanks,
		duplicates, external laboratory checks)
		and whether acceptable levels of
		accuracy (i.e. lack of bias) and precision	•	Stream Sediment Analytical techniques below:
		have been established.
			•	Duplicates, standards and blanks amounting to a
				total of 10% of total samples were submitted with
				the stream sediment samples.
			•	A control standard was submitted with the rock
				chip samples.
Verification	•	The verification of significant	•	No verification sampling has been undertaken is
of sampling		intersections by either independent or		this first pass geochemistry programme.
and assaying		alternative company personnel.
	•	The use of twinned holes.
	•	Documentation of primary data, data
		entry procedures, data verification, data
		storage (physical and electronic)
		protocols.
	•	_Discuss any adjustment to assay data. _
Location of	•	Accuracy and quality of surveys used to	•	Grid system used for sampling is MGA 94 (Zone
data points		locate drill holes (collar and down-hole		50)
		surveys), trenches, mine workings and
		other locations used in Mineral
		Resource estimation.
	•	Specification of the grid system used.
	•	Quality and adequacy of topographic
		control.

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Data spacing	•	Data spacing for reporting of	•	Randomly spaced reconnaissance rock chip
and		Exploration Results.		subject to availability of outcrop for sampling.
distribution	•	Whether the data spacing and	•	Stream sediment sampling nominally spaced at
		distribution is sufficient to establish the		300m intervals, highly detailed.
		degree of geological and grade	•	Not for ore resource estimation.
		continuity appropriate for the Mineral	•	No compositing applied.
		Resource and Ore Reserve estimation
		procedure(s) and classifications
		applied.
	•	Whether sample compositing has been
		_applied. _
Orientation	•	Whether the orientation of sampling		No orientation of data. All surface sampling.
of data in		achieves unbiased sampling of possible
relation to		structures and the extent to which this is
geological		known, considering the deposit type.
structure	•	If the relationship between the drilling
		orientation and the orientation of key
		mineralised structures is considered to
		have introduced a sampling bias, this
		should be assessed and reported if
		material.
Sample	•	The measures taken to ensure sample	•	Chain of custody maintained until delivered to
security		_security. _		laboratory.
Audits or	•	The results of any audits or reviews of	•	No audit of rock sampling data has been
reviews		_sampling techniques and data. _		completed to date

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,	•	E47/1217 is in good standing and is 100%
tenement and		location and ownership including		owned by Artemis Resources Ltd.
land tenure		agreements or material issues with	•	See map elsewhere in this report for
status		third parties such as joint ventures,		locations.
		partnerships, overriding royalties,
		native title interests, historical sites,
		wilderness or national park and
		environmental settings.
	•	The security of the tenure held at the
		time of reporting along with any
		known impediments to obtaining a
		_licence to operate inthe area. _
Exploration	•	Acknowledgment and appraisal of	•	The most significant historic exploration
done by other		exploration by other parties.		identified to date at Mt Oscar (E47/1217)
parties				was completed by Fox Radio Hill Pty Ltd
				from 2008, targeting iron ore. A subsequent
				joint venture with Magnetic South Pty Ltd
				continued to focus on the iron ore potential
				of Mt Oscar. This work included rock chip
				sampling, reverse circulation and diamond
				drilling.
			•	All exploration and analysis techniques
				conducted by Fox Resources and Magnetic
				South Pty Ltd are considered to have been
				appropriate given the available techniques
				at the time.
Geology	•	Deposit type, geological setting and	•	At Mt Oscar, gold mineralisation has been
		style of mineralisation.		identified as being associated with siliceous
				conglomerate lithologies.
			•	As exploration is at an early stage at Mt
				Oscar, further work is required to determine
				the geological setting and provenance of the
				gold mineralisation.
			•	Morphology of gold mineralization is

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Criteria	**JORC Code explanation **	**JORC Code explanation **	Commentary	Commentary
				unknown, assumed to be potentially coarse
				grained.
Drill hole	•	A summary of all information material	•	No drill holes being reported.
Information		to the 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,	•	No aggregation methods used.
aggregation		weighting averaging techniques,
methods		maximum and/or minimum grade
		truncations (eg cutting of high grades)
		and cut-off grades are usually Material
		and should be stated.
	•	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	•	No mineralisation widths are being
between		important in the reporting of		reported.
mineralisation		Exploration Results.
widths and	•	If the geometry of the mineralisation
intercept lengths		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 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	•	Appropriate maps and sections are
		scales) and tabulations of intercepts		available in the body of this announcement.
		should be included 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
reporting		Exploration Results is not practicable,		considered 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	•	No other significant exploration work has
substantive		and material, should be reported		been done by Artemis.
exploration data		including (but not limited to):
		geological observations; geophysical

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Criteria	**JORC Code explanation **	**JORC Code explanation **	Commentary	Commentary
		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	•	Plans are	to follow-up		mapping and
		further work (eg tests for lateral		sampling	with	further	geochemical
		extensions, depth extensions or large-		sampling, trenching, and drilling.
		scale step-out drilling).
	•	Diagrams clearly highlighting the
		areas of possible extensions,
		including the main geological
		interpretations and future drilling
		areas, provided this information is not
		_commercially sensitive. _

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