Artemis Resources Limited — Capital/Financing Update 2020

Jul 20, 2020

ASX Announcement

Mt Clement Project Sale Executed

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21 July 2020

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Highlights

• Artemis executes a binding sale agreement for the Mt Clement Gold Project

to Northern Star Resources Limited (ASX:NST).

• Terms include A$344,000 in cash and Artemis to retain a 1% NSR.

• Deal subject to standard Ministerial Consent.

• Represents another step in the ongoing Artemis non-core project

divestment programme.

Artemis Resources Limited (“Artemis” or “the Company”) (ASX:ARV, Frankfurt: ATY, US OTCQB: ARTTF) is pleased to announce that it has executed a binding sale agreement with Northern Star Resources (“Northern Star”) relating to a sale of the Company’s interests in the Mt Clement Gold Project (ARV 80% and NST 20% / Mining Leases 08/191-193) for total cash consideration of $344,000 which remains subject to Ministerial Consent. On completion of the Transaction, the current joint-venture agreement between Artemis and Northern Star will terminate, with the Company retaining a 1% Net Smelter Royalty (NSR).

Alastair Clayton, Executive Director commented;

“ We would like to thank Northern Star for their partnership on this project as part of the joint venture and wish them all success in moving the project forward to a production scenario where Artemis may further benefit via our retained 1% net smelter royalty. This transaction represents another step in our ongoing non-core project divestment programme.”

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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