Artemis Resources Limited

ASX / MEDIA ANNOUNCEMENT

17 July 2020 ASX : ARV ATY : FRANKFURT ARTTF : OTCQB

GOLD FOCUSED

ARTEMIS RESOURCES LIMITED IS A GOLD AND COPPER FOCUSED COMPANY WITH ASSETS IN THE WEST PILBARA AND THE PATERSONS RANGE OF WESTERN AUSTRALIA.

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

ARTEMIS ALSO HAS ~605 KM[2] IN THE PATERSONS RANGE WITH GOLD AND COPPER TARGETS 40KM FROM THE TELFER GOLD MINE AND SURROUNDING THE HAVIERON DISCOVERY BEING DRILLED BY NEWCREST.

WANT TO KNOW MORE ABOUT ARTEMIS?

Twitter @ArtemisResource

$5.6 MILLION RAISING FOR PATERSONS CENTRAL AND CARLOW CASTLE DRILLING

HIGHLIGHTS

Firm commitments received to raise A$5.6m in a placement that was well oversubscribed
Strong participation in the placement from new institutional investors from Australia and the UK, and existing shareholders
Funding to be applied to diamond drilling in August 2020 at the Patersons Central gold project adjacent to Newcrest (NCM:ASX)/Greatland Gold (GGP:AIM) Havieron discovery in Western Australia
Funds will also be used for a follow-up exploration drilling campaign at Carlow Castle to increase the gold and copper resources (current Inferred JORC 2012 resource 418,000 oz Gold 48Kt tonnes Copper, 7Kt Cobalt as released to ASX 20 November 2019[1] ) as well as additional regional exploration and general working capital.

Artemis’s Non-Executive Chairman Mark Potter commented;

“ We are pleased and greatly encouraged by the level of support Artemis has received with respect to the capital raise we announce today.

The capital raising received a substantial number of bids representing significantly more than the Company was seeking. We welcome several outstanding new institutional investors to the register, and thank existing shareholders for their continuing strong support in this capital raise.

Please Contact:

Alastair Clayton/Ed Mead, Executive Directors

[email protected]

Peter Klinger-Cannings Purple [email protected] +61 (0)411 251 540

Peter Kermode-Cannings Purple [email protected] +61 (0)411 209 459 Or visit the Artemis Website

These new funds allow us to pursue expanded exploration activities across the portfolio. At Paterson Central we have an exceptional exploration opportunity in one of the world’s most exciting new gold-copper frontiers, adjacent to and surrounding on three sides, the Havieron gold and copper discovery being drilled by Newcrest and Greatland Gold.

As per our previous guidance we will soon be releasing details of our recent geological and geophysical interpretation of Paterson Central, and our final drill design plan. Drilling at Paterson Central is expected to commence in August.

At the Greater Carlow Project we continue to progress our exploration plans and will provide further details of our next drilling campaign in the near future.”

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

1The Company confirms that it is not aware of any new information or data that materially affects the information included in the above announcement and, in the case of mineral resources all material assumptions and technical parameters underpinning the estimates in in the announcement continue to apply and have not changed.

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Artemis Resources Limited (“Artemis” or “the Company”) (ASX:ARV, Frankfurt: ATY, US OTCQB: ARTTF) is pleased to provide an update on its recent capital raising.

CAPITAL RAISING

Artemis has received firm commitments for a capital raising of $5.6 million. Artemis will issue 80 million shares at 7 cents per share (A$0.07) representing a 12.5% discount to the last trading price of 8 (A$0.08) cents. The Board had sought as a minimum to raise A$4.2m for 60m shares but retained discretion to issue an additional 20m shares should it decide to for another A$1.4m.

Given the quality of investors and large number of bids received the Board chose to exercise its’ discretion and take the maximum of A$5.6m. These new shares will rank pari passu with existing shares and Artemis expects that the shares will be issued on 23 July 2020.

GGT Ventures and Taylor Collison acted as lead managers.

COMPETENT PERSONS STATEMENT:

The information in this document that relates to JORC resources and or Exploration Results is based on information compiled or reviewed by Edward Mead, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Mead is a Director of Artemis Resources Limited and is a consultant to the Company, and is employed by Doraleda Pty Ltd. Mr Mead has sufficient experience that 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 Mead consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

This announcement was approved for release by the Board.

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