Artemis Resources Limited — Capital/Financing Update 2021

Nov 18, 2021

19 November 2021

ASX Announcement

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High-Grade Gold and Copper Intercepts from the Carlow Crosscut Zone

Highlights

Exceptional results from step-out exploration drilling at Crosscut that is outside any previous resource shell.

Currently only half the Crosscut trend (~230m) has been tested with an additional ~225m of strike length to the South yet to be drilled. A potential parallel zone to the East is also yet to be tested. Both will be drilled as soon as possible in the new year.

Twelve RC holes were targeted to test the system near surface and at depth, with the better intersections being:

• 22m @ 2.23g/t Au, 1.39% Cu, 0.457% Co from 247m - ARC344

• 7m @ 5.23g/t Au, 0.74% Cu, 0.54% Co from 286m – ARC344

• 13m @ 5.95g/t Au, 5.00% Cu, 0.689% Co from 42m - ARC 338

• Including 5m @ 8.31g/t Au, 8.10% Cu, 0.659% Co from 42m

• 10m @ 1.6g/t Au, 2.11% Cu, 0.34% Co from 16m - ARC338

• 4m @ 2.59g/t Au, 0.95% Cu, 0.02% Co from 80m - ARC338

• 7m @ 1.90g/t Au, 2.35% Cu, 0.009% Co from 126m - ARC342

• 2m @ 19.36g/t Au, 1.58% Cu, 0.05% Co from 243m - ARC342

• 5m @ 1.22g/t Au, 1.69% Cu, 0.024% Co from 47m - ARC340

• 5m @ 1.66g/t Au, 0.78% Cu, 0.015% Co from 57m - ARC340

• 3m @ 5.29g/t Au, 0.80% Cu, 0.185% Co from 111m - ARC340

A 40 further holes are still pending assays with drill planning to follow up these outstanding gold and copper results underway.

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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 assay results from the recent RC drilling programme targeting the Crosscut Zone at its 100%-owned Carlow Gold and Copper Project in the west Pilbara region of Western Australia.

Alastair Clayton, Executive Director commented : “This first batch of results from our 52 hole, ~14,000m RC drill programme presented today are from our step-out exploration at the Crosscut Zone. The intercepts presented above are clearly outstanding. We are particularly pleased with the very high tenor of Copper mineralisation encountered which suggests the Crosscut Zone is as much a high-grade Copper deposit as it is a Gold deposit.

Importantly all drilling from this programme lies outside any previous resource shell and the Crosscut Zone is open over a 225m strike length to the South where we think it intersects the Carlow main zone. Geophysics suggests a new parallel mineralised trend may exist to the East. We look forward to drill testing these first order targets in the New Year.

We have a large number of drill holes where assays are still pending. These include more holes at Crosscut, Quod Est and the recently discovered Western high-grade shoots. Furthermore, we drilled a number of holes several kilometres to the South of Carlow to try to discover entirely new deposits. We look forward to releasing these in the coming weeks.

We believe the previous geological model for Carlow had underestimated the true potential of the project. An updated model is now in place that reflects a better understanding of the geometry and structural development of the deposit. We expect to be in a position to release a new Mineral Resource estimate in H1 2022. We look forward in sharing the true potential of the Greater Carlow system of gold, copper and cobalt deposits.”

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Figure 1: Location of the 12 holes drilled at Crosscut Zone. Inset locates Crosscut in relation to the other areas of Carlow.

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A total of 12 holes were drilled into the Crosscut Zone, along a designed local grid on circa. 40 x 40m spacing. Drilling in the Crosscut Zone had tested targets based on recent exploration structural interpretation and coincident geophysical information in the form of Sub-Audio Magnetics (SAM). This is illustrated in Figure 2.

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Figure 2: Crosscut Zone SAM survey and location of the drill collars that tested the eastern trend. Note the potential for repeated structures to the east.

It is important to note that although an interpretation has been completed, additional drilling will be required to properly assess the structures and mineralisation styles that occur at Crosscut. The structures can change downdip orientation. Diamond drilling is planned to test these structures. The system appears to be trending to the southeast and may intersect the Eastern Zone of the Carlow Main Trend. This is shown in Figure 3.

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Figure 3: Diagram illustrating the southwest trend of mineralisation and the potential intersection of the Crosscut structure in the East Carlow Zone. The yellow arrow is circa 200m. Blue dots denote drill collar locations for the recent drilling.

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A larger suite of results for the drilling are shown in Table 1 below.

Table 1: Recent drilling assay results showing significant drill intercept intervals based on 1m assay samples, intersections defined by zones of anomalous Au, Cu and Co. Intersections based on 0.5g/t Au cut-off. (ARC334, 336, 339, 341 and 345 No Sig. Results).

		From	To	DH Width	Au	Cu	Co
HoleID		(m)	(m)	(m)	(g/t)	(%)	(%)
ARC335		168	169	1	1.30	1.51	0.505
ARC335		184	187	3	1.01	0.11	0.163
ARC337		150	151	1	1.65	0.15	0.126
ARC337		160	161	1	2.40	0.33	0.072
ARC338		16	26	10	1.60	2.11	0.340
ARC338	Including	16	18	2	4.23	3.51	0.893
ARC338		36	38	2	1.13	1.33	0.209
ARC338		42	55	13	5.95	5.00	0.689
ARC338	Including	42	47	5	8.31	8.10	0.659
ARC338	Including	50	54	4	8.42	5.46	1.337
ARC338		80	84	4	2.59	0.95	0.024
ARC338	Including	83	84	1	5.98	1.60	0.019
ARC338		100	103	3	1.14	2.31	0.161
ARC340		39	40	1	1.46	4.00	0.029
ARC340		47	52	5	1.22	1.69	0.024
ARC340	Including	49	50	1	3.76	1.83	0.023
ARC340		57	62	5	1.66	0.78	0.015
ARC340	Including	60	61	1	5.22	1.18	0.020
ARC340		95	96	1	2.14	0.09	0.102
ARC340		129	130	1	2.40	7.05	0.082
ARC340		158	159	1	4.87	0.02	0.003
ARC342		111	114	3	5.29	0.80	0.185
ARC342	Including	112	114	2	6.68	1.10	0.209
ARC342		126	133	7	1.90	2.35	0.098
ARC342	Including	126	127	1	8.53	11.25	0.175
ARC342		180	181	1	1.17	1.42	0.549
ARC342		227	228	1	1.52	2.39	0.477
ARC342		243	245	2	19.36	1.58	0.051
ARC344		87	89	2	2.75	0.42	0.009
ARC344	Including	87	88	1	4.90	0.33	0.009
ARC344		247	269	22	2.23	1.39	0.457
ARC344	Including	250	254	4	4.15	1.78	0.517
ARC344	Including	258	259	1	4.89	1.16	0.831
ARC344	Including	262	266	4	2.94	2.08	0.978
ARC344		286	293	7	5.23	0.74	0.054
ARC344	Including	286	290	4	7.65	1.15	0.058

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Figure 4: Section 9920mN Local Grid showing drill traces of recent drilling and significant results. Refer to Figure 1 for section line locations.

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Figure 5: Section 10000mN Local Grid showing drill traces of recent drilling and significant results. Refer to Figure 1 for section line locations.

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Figure 6: Section 10120mN Local Grid showing drill traces of recent drilling and significant results. Refer to Figure 1 for section line locations.

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Competent Persons Statement

The information in this announcement that relates to Exploration Results and Exploration Targets is based on information compiled or reviewed by Mr. Steve Boda, who is a Member of the Australasian Institute Geoscientists. Mr. Boda is an employee of Artemis Resources Limited. Mr. Boda 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. Boda consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.

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.

For further information contact:

Alastair Clayton

Executive Director

alastair.clayton@artemisresources.com.au

Table 2: Hole number and attributes

HoleID	Type	Easting GDA94	Northing GDA94	RL (m)	Dip	Azimuth Mag	Total Depth (m)
ARC334 ARC335 ARC336 ARC337 ARC338 ARC339 ARC340 ARC341 ARC342 ARC343 ARC344 ARC345	RC RC RC RC RC RC RC RC RC RC RC RC	507169.80 507157.31 507212.70 507197.31 507240.49 507310.02 507308.84 507251.61 507271.39 507256.39 507287.51 507304.45	7698837.96 7698881.74 7698881.30 7698921.47 7698964.65 7698921.71 7698872.07 7698865.08 7698827.22 7698755.77 7698731.01 7698688.50	34.36 37.11 35.78 37.43 36.39 35.49 34.28 34.91 33.64 32.58 32.19 31.84	-60.44 -58.17 -61.31 -58.25 -60.76 -58.90 -58.57 -59.16 -60.22 -59.04 -60.06 -60.10	45.38 44.56 44.29 43.77 41.65 43.32 45.72 42.05 45.86 45.50 47.97 48.41	300.00 252.00 168.00 204.00 126.00 150.00 306.00 240.00 252.00 318.00 308.00 282.00

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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				Commentary
Sampling		• Nature and quality of sampling	•	Reverse circulation drilling was used to obtain both 2m
techniques		(eg cut channels, random		composite and one metre samples, using a 5 ¼” face
		chips, or specific specialised		sampling hammer.
		industry standard measurement	•	Samples were collected on a 2m composite basis to a
		tools appropriate to the		prescribed depth predetermined by previous drilling,
		minerals under investigation,		wireframing and assay data. Once the predetermined depth
		such as down hole gamma		is achieved, the sampling reverts to one metre sample
		sondes, or handheld XRF		through the orezone to EOH.
		instruments, etc). These	•	After composite sample results received, all samples that
		examples should not be taken		return a value of >0.1g/t Au will result in the resplitting of the
		as limiting the broad meaning		one metre bulk bags at site using a 75:25 jones riffle splitter.
		of sampling.		These one metre samples are then submitted for analysis.
		• Include reference to measures	•	All samples are pulverized to produce a 50g charge for fire
		taken to ensure sample		assay.
		representivity and the	•	Drilling sampling techniques employed at the Artemis core
		appropriate calibration of any		facility include saw cut HQ (63mm) drill core samples.
		measurement tools or systems used. • Aspects of the determination of	•	Both RC and HQ wireline core is currently being used to drill out the geological sequences and identify zones of mineralisation that may or may not be used in any Mineral
		mineralisation that are Material		Resource estimations, mining studies or metallurgical
		to the Public Report.		testwork.
	•	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	• •	Duplicate samples were collected at the rig from a static cone splitter, with the primary and duplicate bag both simultaneously collected from separate chutes. For RC, the cyclone was cleared between rod changes to minimise contamination.
		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	•	Reverse Circulation drilling completed by Topdrill.
techniques		circulation, open-hole hammer,	•	Drilling was completed using a truck mounted T685 Schramm
		rotary air blast, auger, Bangka,		rig mounted on 8x8 trucks
		sonic, etc) and details (eg core	•	This can produce 1000psi/2700CFM with an axillary booster
		diameter, triple or standard tube,		which is capable of achieving dry samples at depths of around
		depth of diamond tails, face-		300m.
		sampling bit or other type,
		whether core is oriented and if
		so, by what method, etc).
Drill sample	•	Method of recording and	•	Recoveries are recorded on logging sheets along with
recovery		assessing core and chip sample		encounters with water and whether the samples are dry, moist
		recoveries and results assessed.		or wet.
	•	Measures taken to maximise	•	Drilling recoveries for Reverse Circulation drilling were >80%
		sample recovery and ensure		with some exceptions that maybe caused by loss of return
		representative nature of the		through faults or encounters with water.
		samples.	•	>90% of samples returned dry.
	•	Whether a relationship exists	•	Statistical analysis shows that no bias of grade exists due to
		between sample recovery and		recoveries
		grade and whether sample bias
		may have occurred due to
		preferential loss/gain of
		fine/coarse material.

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Criteria				Commentary
Logging	•	Whether core and chip samples	•	RC samples were collected from the static cone splitter as two
		have been geologically and		samples, one bulk sample and one primary (analytical)
		geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.	• •	sample. The bulk samples are one metre splits. These bags are then placed in neat rows of 50 bags each clear of the rig for safety reasons.
	• •	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. The total length and percentage of the relevant intersections	• • •	A field technician mixes the bag by hand before taking a sample using a sieve and sieves the sample to remove fines. The sieved sample is then transferred to a wet sieve in a bucket of water, and the sample is sieved further until rock fragments are clearly visible. These rock fragments are then logged by the site geologist,
		logged.		taking note of colour, grainsize, rock type, alteration if any, mineralisation if any, veining if any, structural information if
				notable and any other relevant information.
			•	This information is then written down on pre-printed logging
				sheets, using codes to describe the attributes of the geology.
			•	A representative sample is transferred to pre-labelled chip
				trays into the corresponding depth from where the sample
				was drilled from.
			•	The remainder of the sample from the sieve is then
				transferred into a core tray that has been marked up by depths
				at metre intervals.
			•	An identification sheet noting the hole number and from-to
				depths that correspond to each tray is then written up and
				placed above the tray and a photograph is taken of the chips.
			•	The hole is logged in its entirety, hence 100%
			•	The geological data would be suitable for inclusion in a
				Mineral ResourceEstimation(MRE)
Sub-sampling	•	If core, whether cut or sawn and	•	RC samples were collected on the drill rig using a cone
techniques and		whether quarter, half or all core		splitter. If any mineralised samples were collected wet these
sample		taken.		were noted in the drill logs and database.
preparation	•	If non-core, whether riffled, tube	•	The RC drilling rig is equipped with a rig-mounted cyclone and
		sampled, rotary split, etc and		static cone splitter, which provided one bulk sample of
		whether sampled wet or dry.		approximately 20-30 kilograms, and a sub-sample of
	•	For all sample types, the nature,		approximately 2-4 kilograms for every metre drilled.
		quality and appropriateness of	•	Field QC procedures involve the use of Certified Reference
		the sample preparation		Materials (CRM’s) as assay standards, along with duplicates
		technique.		and blank samples. The insertion rate of these was
	•	Quality control procedures		approximately 1:20.
		adopted for all sub-sampling	•	For RC drilling, field duplicates were taken on a routine basis
		stages to maximise		at approximately 1:20 ratio using the same sampling
		representivity of samples.		techniques (i.e. cone splitter) and inserted into the sample
	•	Measures taken to ensure that		run.
		the sampling is representative of	•	Primary and duplicates results have been compared.
		the in-situ material collected,	•	The sample sizes are appropriate, representative and are
		including for instance results for		considered more than adequate to ensure that there are no
		field duplicate/second-half		particle size effects relating to the grain size of the
		sampling.		mineralisation.
	•	Whether sample sizes are
		appropriate to the grain size of
		_the material being sampled. _
Quality of assay		• The nature, quality and	•	A certified laboratory, ALS Chemex (Perth) was used for all
data and		appropriateness of the		analysis of drill samples submitted. The laboratory
laboratory tests		assaying and laboratory		techniques below are for all samples submitted to ALS and
		procedures used and whether		are considered appropriate for the style of mineralisation
		the technique is considered		defined within the Carlow Castle Project area
		partial or total.	•	The sample preparation followed industry best practice. Fire
		• For geophysical tools,		assay samples were dried, coarse crushing to ~10mm, split
		spectrometers, handheld XRF		to 300g subsample, followed by pulverisation in an LM5 or
		instruments, etc, the		equivalent pulverising mill to a grind size of 85% passing 75
		parameters used in determining		micron.
		the analysis including	•	This fraction was split again down to a 50g charge for fire
		instrument make and model, reading times, calibrations		assay

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Criteria					Commentary
		factors applied and their		•	50-gram Fire Assay (Au-AA26) with ICP finish for Au.
	•	derivation, etc. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of		• •	All samples were dried, crushed, pulverised and split to produce a sub-smapleof 50g which is digested and refluxed with hydrofluoric, nitric, hydrochloric and perchloorci acid (4 acid digest). This digest is considered a total dissolution for most minerals
		accuracy (ie lack of bias) and precision have been established.		•	Analytical analysis is performed using ICP-AES Finish (ME- ICP61) for Ag, Al, As, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe,
					Ga, K, La, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Sc, Sr, Th, Ti,
					Tl, U, V, W, Zn.
				•	Additional Ore Grade ICP-AES Finish (ME-OG62) for Cu
					reporting out of range.
				•	Standards are matrix matched by using previous pulps from
					drilling programs and homogenised using certified
					laboratories.
				•	Standards were analysed by round robins to determine
					grade.
				•	Standards were routinely inserted into the sample run at
					1:20.
				•	Laboratory standards and blank samples were inserted at
					regular intervals and some duplicate samples were taken for
					QC checks.
Verification of		• The verification of significant		•	Sampling was undertaken by field assistants supervised by
sampling and assaying		intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data		• •	experienced geologists from Artemis Resources. Significant intercepts were checked by senior personnel who confirmed them as prospective for gold mineralisation. No twin holes using RC was completed in this program. Electronic data capture on excel spreadsheets which are then
		verification, data storage			uploaded as .csv files and routinely sent to certified database
		(physical and electronic)			management provider.
		protocols. • Discuss any adjustment to assay data.		• •	Routine QC checks performed by Artemis senior personnel and by database management consultant. PDF laboratory certificates are stored on the server and are
					checked bythe Exploration Manager.
Location of		• Accuracy and quality of surveys		•	A Garmin GPSMap62 hand-held GPS was used to define the
data points		used to locate drill holes (collar			location of the initial drill hole collars. Standard practice is for
		and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.			the GPS to be left at the site of the collar for a period of 5 minutes to obtain a steady reading. Collar locations are considered to be accurate to within 5m.
		• Specification of the grid system		•	A high-quality downhole north-seeking multi-shot or
		used.			continuous survey gyro-camera was used to determine the
		• Quality and adequacy of			dip and azimuth of the hole at 30m intervals down the hole
		topographic control.		•	The topographic surface was calculated from the onsite mine
					survey pickups and subsequently verified by RTK GNSS
					collar surveys.
				•	Zone 50 (GDA 94).
				•	Surface collar coordinates are surveyed via RTK GNSS with
					1cm accuracy by a professional surveying contractor.
				•
Data spacing		• Data spacing for reporting of		•	In certain areas, current drill hole spacing is variable and
and distribution		Exploration Results.			dependent on specific geological, and geochemical targets.
		• Whether the data spacing and		•	A nominal 40x20m drill spacing is considered adequate to
		distribution is sufficient to			establish the degree of geological and grade continuity
		establish the degree of			appropriate for JORC (2012) classifications applied.
		geological and grade continuity		•	No sample compositing to date has been used for drilling
		appropriate for the Mineral			completed byArtemis. All resultsreported are theresult of 1

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Criteria				Commentary
		Resource and Ore Reserve		metre downhole sample intervals.
		estimation procedure(s) and
		classifications applied.
		• Whether sample compositing
		has been applied.
Orientation of data in		• Whether the orientation of	•	Drill holes were designed to be perpendicular to the strike of
relation to geological		sampling achieves unbiased		known mineralisation. Due to the structural and geological
structure		sampling of possible structures and the extent to which this is known, considering the deposit		complexity of the area, mineralisation of unknown orientation can be intersected.
		type.
		• 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 security	•	The measures taken to ensure	•	The chain of custody is managed by the supervising geologist
		sample security.		who places calico sample bags in polyweave sacks. Up to 10
				calico sample bags are placed in each sack. Each sack is
				clearly labelled with:
			o	Artemis Resources Ltd
			o	Address of laboratory
			o	Sample range
			•	Samples were delivered by Artemis personnel to the
				transport company in Karratha and shrink wrapped onto
				pallets.
			•	The transport company then delivers the samples directly to
				the laboratory.
Audits or reviews	•	The results of any audits or	•	Data is validated upon up-loading into the master database.
		reviews of sampling techniques		Any validation issues identified are investigated prior to
		and data.		reporting of results.

SECTION 2 REPORTING OF EXPLORATION RESULTS

(Criteria listed in the preceding section also apply to this section.)

Criteria			Commentary
Mineral tenement	• Type, reference		•Drilling by Artemis was carried out on E47/1797 – 100% owned by
and land tenure	name/number, location		Artemis Resources Ltd. This tenement forms a part of a broader
status	and ownership including agreements or material issues with third parties		tenement package that comprises the West Pilbara Project. •This tenement is in good standing.
	such as joint ventures,
	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 in the area.

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Criteria					Commentary
Exploration done by	•	Acknowledgment	and	•	The most significant work to have been completed historically in the
other parties		appraisal of exploration			Carlow Castle area, including the Little Fortune and Good Luck
		by other parties.			prospects, was completed by Open Pit Mining Limited between 1985
					and 1987, and subsequently Legend Mining NL between 1995 and
					2008.
				•	Work completed by Open Pit consisted of geological mapping,
					geophysical surveying (IP), and RC drilling and sampling.
				•	Work completed by Legend Mining Ltd consisted of geological
					mapping and further RC drilling.
				•	Legend also completed an airborne ATEM survey over the project
					area, with follow up ground-based FLTEM surveying. Re-processing
					of this data was completed by Artemis and was critical in developing
					drill targets for the completed RC drilling.
				•	Compilation and assessment of historic drilling and mapping data
					completed by both Open Pit and Legend has indicated that this data
					is compares well with data collected to date by Artemis. Validation and
					compilation of historic data is ongoing.
				•	All exploration and analysis techniques conducted by both Open Pit
					and Legend are considered to have been appropriate for the style of
					deposit.
Geology	•	Deposit type, geological		•	The Carlow Castle Co-Cu-Au prospect includes a number of
		setting and style	of		mineralised shear zones, located on the northern margin of the
		mineralisation.			Andover Intrusive Complex. Mineralisation is exposed in numerous
					workings at surface along quartz-rich shear zones. Both oxide and
					sulphide mineralisation are evident at surface associated with these
					shear zones.
				•	Sulphide mineralisation appears to consist of Chalcopyrite, chalcocite,
					cobaltite,pyrrhotite andpyrite
Drill hole Information	•	A summary of all		•	Drill hole information is contained within this release.
		information material to
		the understanding of the
		exploration results
		including a tabulation	of
		the following information
		for all Material drill holes:
	•	easting and northing of
		the drill hole collar
	•	elevation or RL
		(Reduced Level –
		elevation above sea level
		in metres) of the drill hole
		collar
	•	dip and azimuth of the
		hole
	•	down hole length and
		interception depth
	•	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.

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Criteria				Commentary
Data aggregation	•	In reporting Exploration	•	All intervals reported are composed of 1 metre down hole intervals
methods		Results, weighting		for Reverse Circulation drilling.
		averaging techniques,	•	Aggregated intercepts do include reported lengths of higher-grade
		maximum and/or		internal intercepts.
		minimum grade	•	No upper or lower cut-off grades have been used in reporting results.
		truncations (eg cutting of high grades) and cut-off	•	No metal equivalent calculations are used in this report.
		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	•	The mineralisation in the Carlow Castle Western Zone strikes
between		particularly important in		generally E-W and dips to the north at approximately -75 to -80
mineralisation		the reporting of		degrees. The drill orientation was 180 -60 dip. Drilling is believed to
widths and intercept		Exploration Results.		be generally perpendicular to strike. Given the angle of the drill holes
lengths	•	If the geometry of the		and the interpreted dip of the host rocks and mineralisation, reported
		mineralisation with		intercepts approximate true width.
		respect to the drill hole	•	True thicknesses are calculated from interpretation deriving from
		angle is known, its		orientation of high-grade intervals, orientation of the main
		nature should be		mineralised trend and its dip.
		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	•	Appropriate plans are shown in the text.
		sections (with scales)
		and tabulations of
		intercepts 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 reporting	•	Where comprehensive	•	This release reports the results of six RC holes out of a nine hole
		reporting of all		program. The significant results tabulated in the release are reported
		Exploration Results is		at a base grade of >0.5 g/t Au or >0.5% Cu. Internal dilution of up to
		not practicable,		2 m may be included in an intersection.
		representative reporting
		of both low and high
		grades and/or widths

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Criteria			Commentary
	should be practiced to
	avoid misleading
	reporting of Exploration
	Results.
Other substantive	• Other exploration data, if	•	Targeting for the RC drilling completed by Artemis was based on
exploration data	meaningful and material,		compilation of historic exploration data, and the surface expression
	should be reported		of the targeted mineralised shear zones and associated historic
	including (but not limited		workings.
	to): geological
	observations;
	geophysical 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	•	Further work (RC and diamond drilling) is justified to locate
	planned further work (eg		extensions to mineralisation both at depth and along strike.
	tests for lateral
	extensions or depth
	extensions or large-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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