Artemis Resources Limited — Capital/Financing Update 2021

Oct 27, 2021

28 October 2021

ASX Announcement

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Paterson Central Project Update – Drilling at Atlas

Highlights

• Diamond drill rig is on the Atlas target at the Company’s 100% owned Paterson Central Project that surrounds the world-class Havieron Gold-Copper discovery under development by Newcrest and Greatland Gold.

• Following completion of the first hole at Atlas (target depth ~800m), the Company intends to test the Apollo target trend just to the south with multiple holes to similar depths. Both Atlas and Apollo sit just to the north of Havieron.

• A second diamond drill rig has been contracted to accelerate drilling activities through November and December.

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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 drilling at its 100%-owned Paterson Central Gold and Copper Project in the Paterson Province region of Western Australia.

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

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Alastair Clayton, Executive Director commented : “We are delighted to be drilling some of our highest-priority targets at our 100%-owned Paterson Central Project that surrounds on three sides and is adjacent to the world-class Havieron gold and copper project that is under development.

“Once initial drilling at Atlas has been completed, the rig will move to the Apollo prospect which has easier access and allows for extended drilling activities as the local wet season approaches.

“Pleasingly, with heritage clearances, permissions, access tracks and numerous pads and sumps now installed, we are in a position to significantly expedite and expand our exploration efforts into 2022, post-wet season.

“Artemis has chosen to retain 100% ownership of its Paterson Central tenure and, as a result, I believe shareholders’ leverage to exploration success is extraordinary. We will periodically update shareholders on progress and any material geological findings.”

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Figure 1 - Central and Southern Artemis priority targets (yellow stars) over gravity Image and interpreted geology trends, also highlighting Newcrest - Greatland Gold JV published regional targets (red circles).

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

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Atlas and Apollo Targets

Company geologists believe that Atlas represents a large discrete coincident gravity, geochemical and structural target (Figure 1*). Atlas is interpreted to straddle the major controlling N-S fault zone and mafic dyke that continues down to, and bisects, the Havieron deposit 4.5 km to the south and is in a similar structural setting to both the Eastern Breccia and Havieron North targets now being explored by the Newcrest - Greatland Gold JV.

Apollo is interpreted to be a large, coincident magnetic, gravity, geochemical and structural target that may be a continuation of the NW trending Havieron sequence, and is thought to be an extension of the Newcrest - Greatland JV ZIPA target (Figure 1*).

*See Artemis (ARV) ASX news release 9 September 2021 - Final approvals Received for the Paterson Central Project Multi-target Drill Programme

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Competent Persons Statement

The information in this announcement that relates to Exploration Results complies with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) and has been compiled and assessed under the supervision of Dr Jayson Meyers, a consultant to Artemis Resources Limited and a Director of Resource Potentials Pty Ltd. Dr Meyers is a Fellow of the Australasian Institute of Geoscientists. He has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code. Dr Meyers consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. Dr Meyers does not hold securities in the Company.

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

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

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