Artemis Resources Limited — Capital/Financing Update 2020

Sep 14, 2020

ASX Announcement

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Sale of shares in Novo Resources for A$5.78m

15 September 2020

Highlights

• Company confirms it has now completed a structured share sale programme covering all of its 1,640,000 shares in Novo Resources (NVO.TSV) with net proceeds of A$5.78m.

• Average realised sale price of C$3.40/share. This 4-month escrowed stock was issued to the Company in April 2020 at C$2.06 per share.

• Total sale proceeds from the sale of the 50% stake in the Novo Joint Venture, net of costs, ~A$6.58m.

• Funds further boost treasury to over A$10m and will be used to substantially expand exploration drilling activities across our West and East Pilbara Projects during the remainder of 2020.

• The Company will update shareholders soon on its exploration plans and activities across the Pilbara region.

Artemis Resources Limited (“Artemis” or “the Company”) (ASX:ARV, Frankfurt: ATY, US OTCQB: ARTTF) is pleased to provide an update on the sale of its stake in Novo Resources.

Alastair Clayton, Executive Director commented : “We are pleased to have been able to complete these share sales in a structured and responsible manner to yield nearly A$5.78m to put back into treasury. This non-dilutive funding will only strengthen our hand as we embark on a particularly busy, multi programme phase of exploration across our Pilbara portfolio. We also have additional non-core asset divestments that are expected to close imminently. The Company looks forward to also updating shareholders on these matters in due course.”

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ARTEMIS RESOURCES ASX:ARV FRA:ATY US:ARTTF W www.artemisresources.com.au

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About Artemis Resources

Artemis Resources (ASX: ARV; FRA: ATY; US: ARTTF) is a Perth-based exploration and development company, led by an experienced team that has a singular focus on delivering shareholder value from its Pilbara gold projects – the Greater Carlow Gold Project in the West Pilbara and the Paterson Central exploration project in the East Pilbara.

For more information, please visit www.artemisresources.com.au

This announcement was approved for release by the Board.

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ARTEMIS RESOURCES ASX:ARV FRA:ATY US:ARTTF W www.artemisresources.com.au

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