Artemis Resources Limited

ASX / MEDIA ANNOUNCEMENT

ARTEMIS RETIRES ALL DEBT WITH $5.9M CAPITAL RAISE

15 October 2019

ASX : ARV ATY : FRANKFURT ARTTF: OTCQB

GOLD FOCUSSED

ARTEMIS RESOURCES LIMITED IS AN AUSTRALIAN MINERAL DEVELOPER ADVANCING ITS WEST PILBARA BASE METALS, BATTERY AND PRECIOUS METALS ASSETS TOWARDS PRODUCTION.

ARTEMIS HAS CONSOLIDATED A MAJOR LAND HOLDING IN THE WEST PILBARA AND IS THE 100% OWNER OF THE RADIO HILL OPERATIONS AND PROCESSING INFRASTRUCTURE, STRATEGICALLY LOCATED 30 KM FROM THE CITY OF KARRATHA, THE POWERHOUSE OF THE PILBARA.

ARTEMIS ALSO HAS 1,140 KM[2] IN THE PATERSONS RANGE WITH ALL GOLD AND COPPER TARGETS WITHIN 40KM OF THE TELFER GOLD MINE AND SURROUNDING THE HAVIERON DISCOVERY BEING DRILLED BY NEWCREST AND GREATLAND GOLD.

WANT TO KNOW MORE ABOUT ARTEMIS?

Artemis Resources Limited (“Artemis” or “the Company”) (ASX:ARV, Frankfurt:ATY, US OTCQB:ARTTF) is pleased to advise that it has received firm commitments from international and Australian institutions and sophisticated investors to raise $5.9 million (before costs).

On closing, the funds from this capital raise will be used to completely retire the Riverfort Global Capital Limited Convertible Note (“Riverfort Note”) of $4.6 million and provide approximately $1.1 million for Artemis key projects in the Telfer and Karratha areas of Western Australia.

The capital raise was undertaken at a price of 3.2 cents per share, an approximate 23% discount to the 15-day VWAP as at 9 October 2019. The Company will issue 110,937,500 shares under LR 7.1 and 73,437,500 shares under LR 7.1A. Information required under LR3.10.5A to be provided on settlement.

Settlement and issue of shares in relation to the capital raise is expected on or around 17 October 2019. Further announcements will be made with respect to the closing of the raise as appropriate.

The Board takes this opportunity to welcome new shareholders who participated in the capital raise and thank our existing shareholders for their ongoing support.

Artemis’s Non-Executive Chairman Sheikh Maktoum commented;

“Being debt free and with capital to advance our projects towards feasibility is a key milestone. I would like to thank existing shareholders for their ongoing support and welcome new shareholders who participated in the capital raise, as we execute on our strategy.”

Artemis’s CEO, Ed Mead, commented;

“I am extremely pleased that Artemis has comfortably completed this capital raise within its capacity, which enables settlement of its total debt earlier than anticipated. The Company will now be in a stronger position to progress its key projects in the Telfer and Karratha areas.”

Please Contact:

Edward Mead – Executive Director [email protected] +61 407 445 351

David Tasker – Media Advisor [email protected] +61 433 112 936

Or visit the Artemis Website

ENDS

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ABN: 80 107 051 749 Suite 1, 11 Ventnor Ave, West Perth WA 6000 Australia

P: +61 8 6319 0000 E : [email protected] Web : www.artemisresources.com.au

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Artemis Resources Limited Capital/Financing Update 2019