Artemis Resources Limited — Capital/Financing Update 2021

Mar 10, 2021

11 March 2021

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ASX Announcement

More high grade Au-Cu-Co results from the Carlow Castle project.

Highlights

Final assays received from the Q4 2020 43-hole RC campaign and first batch of results from the Q1 2021 55-hole RC campaign have been received for the Carlow Castle Gold-Copper-Cobalt Project, with numerous significant intercepts. Some interesting holes showing variability of gold and copper mineralisation include:

RC hole ARC247 on East end of Main Zone, outstanding copper and gold widths:

• 27m @ 0.71g/t Au, 1.51% Cu, 0.1% Co from 42m

RC hole ARC255 on newly discovered CrossCut 1, north of the Main Zone, gold and copper rich zones:

• 1m @ 6.11g/t Au, 4.24% Cu, 0.47% Co from 86m;

• 7m @ 2.57g/t Au, 2.07% Cu, 0.24% Co from 109m, including

• 3m @ 4.23g/t Au, 2.56% Cu, 0.43% Co from 112m; and

• 11m @ 0.75g/t Au, 1.33% Cu, 0.12% Co from 132m

Other important drilling results were also returned, mostly from step-out and in-fill holes on the main 1.2km long mineralized zone:

• ARC256: 5m @ 2.42g/t Au, 1.37% Cu, 0.20% Co from 125m;

• o ARC257: 6m @ 0.49g/t Au, 1.56% Cu, 0.12% Co from 41m; o ARC263: 4m @ 1.49g/t Au, 0.66% Cu, 0.07% Co from 248m; o ARC265: 3m @ 6.83g/t Au, 0.81% Cu, 0.20% Co from 144m; o ARC265: 3m @ 4.18g/t Au, 1.15% Cu, 0.25% Co from 205m; o ARC265: 4m @ 2.05g/t Au, 0.42% Cu, 0.03% Co from 244m; o ARC266: 4m @ 1.48g/t Au, 0.34% Cu, 0.05% Co from 166m; and o ARC267: 2m @ 3.06g/t Au, 2.48% Cu, 0.10% Co from 180m

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Page 1 of 14

The Carlow Castle ~10,500m Q1 2021 RC drill campaign was expanded to 55 holes and is now complete. The campaign has targeted step-out and resource extensions as well as new discovery zones and IP targets. Further assay results from this programme are expected in the coming weeks.

The Company has scheduled the next ~10,000m RC drill programme to commence in early April, which will include drill testing several compelling new exploration targets near Carlow Castle that have been identified by the ongoing IP survey. Further details of these new exploration targets will be released to shareholders in the coming weeks.

Artemis Resources Limited (“Artemis” or “the Company”) (ASX:ARV, Frankfurt: ATY, US OTCQB: ARTTF) is pleased to provide an update on drill programmes currently underway at its 100%-owned Carlow Castle Gold and Copper Project in the west Pilbara region of Western Australia.

Alastair Clayton, Executive Director commented : “The Carlow Castle gold-copperCobalt project continues to return excellent drilling results as we gain understanding of this deposit type. Drilling the Main Zone is in-filling data gaps and extending the orebody down dip on what are becoming defined ore shoots. The Main Eastern zone is still only drilled to the 250m depth for the most part and remains open in multiple directions.

The CrossCut 1 results continue to return high grade gold, copper and cobalt on a set of mineralized trends that is believed to be oblique to the Main Zone and Quod Est Zone. This pushes the mineralised envelope a further 300m to the north, with a strike of >250m and still open. The Main Western zone, Quod Est and now CrossCut 1 are only shallowly drilled to about 100m below surface, leaving the 1.2km long mineralised trend open at depth on numerous trends.

With the 73 RC and DDH drill holes from the 2021 Q4 programme and now the 55 RC holes from the 2021 Q1 programme, our knowledge and understanding of the Carlow Castle mineral deposit has grown immensely as we keep expanding its +1.2km known strike and open down dip potential.”

Summary of Drilling at Carlow Castle

The initial 2021 drilling campaign at Carlow Castle is almost completed, with results beginning to come in. Most recent results are highlighted in Figure 1 and Table 1 , which highlights significant intercepts to date and the number of pending assays.

The 10,000m RC drilling programme has been completed, targeting step out drilling, the new Discovery Zone and resource extension (55 holes). Five RC holes in this programme tested preliminary targets generated from the ongoing IP survey. This survey has been rearranged slightly to properly cover areas of interest identified.

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The excellent intersection in ARC247 confirms infilling of mineralization of the eastern end that appears fault bound on the SE side, as results have not been repeated in ARC248 and ARC249 due to the east-northeast structure shown in Figure 1. The interpreted south dip of this structure appears consistent across several adjacent sections and is responsible for displacement of the mineralised zone to as yet unidentified location. It is hoped the IP will give guidance to the location of this high-grade mineralisation.

The intersection in ARC255 shows the mineralised area in CrossCut 1 has excellent potential to develop into another mineralised zone; intersections now exist over 3 sections suggesting a strike length more than 200m given the NW-SE orientation of the mineralization.

A number of holes were repositioned to test the CrossCut discovery zone on an NE-SW orientation, as previous drilling in this area was oriented E-W or N-S. This zone potentially explains the presence of several minor mineralised zones intersected in drilling to the east of Quod Est and the presence of several historical pits and shafts along the trend.

Once the diamond drilling and assaying is completed, consultants CSA Global will complete an updated structural model for the Carlow Castle deposit and resource estimation.

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Figure 1: Carlow Castle current drilling programme map showing current reverse circulation (RC) hole locations for ARC246, ARC247, ARC248, ARC250, ARC263, ARC265, ARC266, ARC276, ARC255, Arc256 AND arc257 the outlined area shows the new CrossCut discovery zone.

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Page 3 of 14

COMPETENT PERSONS STATEMENT:

The information in this announcement that relates to Exploration Results and Exploration Targets is based on information compiled or reviewed by Allan Younger, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Younger is an employee of Artemis Resources Limited. Mr Younger 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 Younger 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.

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For further information contact:

Alastair Clayton Executive Director alastair.clayton@artemisresources.com.au

Boyd Timler Executive Director boyd.timler@artemisresources.com.au

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Table 1: Recent Carlow Castle drilling assay results averaged over significant drill intercept intervals bases on 1m assay samples, intersections defined by either >0.5g/t Au or >0.5%Cu, max 3m internal dilution. NSI = no significant intercept.

Hole_ID	Comments	m From	m To	m	Au g/t	Cu %	Co %
ARC223	NSI
ARC224	NSI
ARC225		28	33	5	0.42	0.66	0.07
ARC225		58	61	3	0.35	0.07	0.38
ARC225		86	88	2	2.28	0.57	0.51
ARC226		32	37	5	4.36	2.67	0.49
ARC226	Including	33	35	2	9.26	4.94	0.98
ARC226		48	50	2	0.27	0.92	0.07
ARC226		52	53	1	3.03	3.3	0.3
ARC226		60	61	0.65	0.65	0.78	0.54
ARC227		68	71
ARC227		80	81
ARC228		73	77	4	0.19	0.35	0.27
ARC229	NSI
ARC230	NSI
ARC231		35	36	1	0.24	2.9	137
ARC232		11	12		0.97	0.33	0.01
ARC233		48	50	2	0.62	1.09	0.104
ARC233		71	82	11	4.24	1.58	0.03
ARC233	Including	72	74	2	18.15	5.56	0.07
ARC234		102	108	6	2.72	3.03	0.22
ARC235	NSI
ARC236	NSI
ARC237	NSI
ARC238	NSI
ARC239	NSI
ARC240	NSI
ARC241	NSI
ARC242	NSI
ARC243		87	92	5	0.11	0.47	0.06
ARC244		75	76	2	1.57	0.01	0.01
ARC244		113	114	1	7.43	0.05	0.04
ARC245	NSI
ARC246		3	6	3	1.52	2.79	0.05
ARC246		43	45	2	1.06	0.11	0.05
ARC247		42	49	7	0.61	1.77	0.03
ARC247		53	66	13	0.98	1.76	0.17
ARC248		113	114	1	1.03	1.00	0.08
ARC249		121	123	1	0.55	1.05	0.01
ARC249		174	179	5	0.46	0.54	0.04
ARC250	NSI
ARC251		58	60	2	0.69	0.3	0.02
ARC252		82	87	5	2.4	0.63	0.09
ARC253		60	61	1	1.52	0.1	0.01
ARC253		132	176	44	2.00	0.71	0.15
ARC253	including	144	145	1	10.4	2.49	0.32
ARC253	including	155	156	1	10.9	0.8	0.2
ARC254		134	135	1	1.24	0.2	0.01
ARC254		221	230	9	1.11	0.47	0.03
ARC255		2	4	2	0.76	1.42	0.03
ARC255		18	19	1	0.9	0.89	0.1
ARC255		49	50	1	0.94	1.83	0.14
ARC255		57	58	1	0.68	1.96	0.12
ARC255		64	66	2	0.89	2.18	0.18
ARC255		86	87	1	6.11	4.24	0.47
ARC255		109	115	6	2.98	2.32	0.27
ARC255	incl	112	115	3	4.23	2.56	0.43
ARC255		120	122	2	0.55	2.01	0.14
ARC255		133	136	3	1.44	1.71	0.05
ARC255		140	143	3	0.9	2.09	0.29
ARC256		125	130	5	2.42	1.37	0.2
ARC257		3	8	5	0.03	0.03	0.17
ARC257		41	47	6	0.49	1.56	0.12
ARC258	NSI
ARC259		171	172	1	0.88	0.03	0.01

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	Hole_ID	Comments	m From	m To	m	Au g/t	Cu %	Co %
	ARC260		83	84	1	0.65	0.005	0.001
	ARC261		66	67	1	0.62	0.006	0.001
	ARC262		191	192	1	2.65	0.01	0.001
	ARC263		248	252	4	1.49	0.66	0.07
	ARC264	NSI
	ARC265		144	147	3	6.83	0.81	0.2
	ARC265	including	145	146	1	19.55	2.06	0.56
	ARC265		205	208	3	4.18	1.15	0.25
	ARC265		244	248	4	2.05	0.42	0.03
	ARC265		273	274	1	1.11	0.77	0.05
	ARC266		166	170	4	1.48	0.34	0.05
	ARC267		146	147	1	1.84	1.06	0.02
	ARC267		158	159	1	0.64	0.7	0.01
	ARC267		175	176	1	2.39	0.21	0.04
	ARC267		180	182	2	3.06	2.48	0.1
	ARC267		218	225	7	0.85	0.3	0.05
	ARC268		70	72	2	0.02	0.03	0.004
	ARC269	NSI
	ARC270	NSI
	ARC271	Pending
	ARC272	Pending
	ARC273	Pending
	ARC274	Pending
	ARC275	Pending
	ARC276	Pending
	ARC277	Pending
	ARC278	Pending
	ARC279	Pending
	ARC280	Pending
	ARC281	Pending
	ARC282	Pending
	ARC283	Pending
	ARC284	Pending
	ARC285	Pending
	ARC286	Pending
	ARC287	Pending
	ARC288	Pending
	ARC289	Pending
	ARC290	Pending
	ARC291	Pending
	ARC292	Pending
	ARC293	Pending
	ARC294	Pending
	ARC295	Pending
	ARC296	Pending
	ARC297	Pending
	ARC298	Pending
	ARC299	Pending
	ARC300	Pending
	ARC301	Pending
	ARC302	Pending
	ARC303	Pending
	ARC304	Pending
	ARC305	Pending
	ARC306	Pending
	ARC307	Pending
	ARC308	Pending
	ARC309	Pending

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Table 2: Carlow Castle drill collar information.

Holes ARC255 - ARC309 pending full collar survey.

Hole Id	Type	Z50MGA East	Z50MGA North	RL (m)	Depth (m)	Dip	Azimuth
ARC001	RC	506929.95	7698920.09	40.28	72	-60	270
ARC002	RC	506959.14	7698916.27	39.75	90	-60	270
ARC003	RC	506909.93	7698896.80	39.14	54	-60	270
ARC004	RC	506925.68	7698896.50	39.24	78	-60	270
ARC005	RC	506888.51	7698919.80	40.25	60	-60	90
ARC006	RC	506947.24	7698894.26	39.03	90	-60	270
ARC007	RC	506911.18	7698937.79	41.59	48	-60	270
ARC008	RC	506933.10	7698937.94	41.14	78	-60	270
ARC009	RC	506904.79	7698960.57	42.71	48	-60	270
ARC010	RC	506922.98	7698961.93	42.84	78	-60	270
ARC011	RC	506917.24	7698917.58	40.60	48	-60	270
ARC012	RC	506902.24	7698878.73	38.33	48	-60	270
ARC013	RC	506922.61	7698879.32	38.36	72	-60	270
ARC014	RC	506944.97	7698880.09	38.84	90	-60	270
ARC015	RC	506899.23	7698837.97	38.58	48	-60	270
ARC016	RC	506919.31	7698838.32	41.38	78	-60	270
ARC017	RC	506869.79	7698799.07	36.64	48	-60	270
ARC018	RC	506887.95	7698799.83	37.70	48	-60	270
ARC019	RC	506906.80	7698800.96	39.10	60	-60	270
ARC020	RC	506927.68	7698801.91	41.30	90	-60	270
ARC021	RC	506868.38	7698761.99	35.54	48	-60	270
ARC022	RC	506887.74	7698761.44	36.24	48	-60	270
ARC023	RC	506907.53	7698760.64	37.49	78	-60	270
ARC024	RC	506579.85	7698699.77	34.80	60	-60	180
ARC025	RC	506619.19	7698698.13	34.79	66	-60	180
ARC026	RC	506659.40	7698699.29	34.97	60	-60	180
ARC027	RC	506699.06	7698699.67	34.80	60	-60	180
ARC028	RC	506742.04	7698701.18	34.55	60	-60	180
ARC029	RC	506944.14	7698957.64	42.43	84	-60	270
ARC030	RC	506952.30	7698938.33	40.81	90	-60	270
ARC031	RC	506973.27	7698916.87	39.68	102	-60	270
ARC032	RC	506969.77	7698896.34	39.26	108	-60	270
ARC033	RC	506895.77	7698937.59	41.27	23	-60	90
ARC033a	RC	506893.23	7698937.48	41.35	90	-60	90
ARC034	RC	506973.31	7698940.16	40.47	137	-60	270
ARC036	RC	506579.18	7698677.42	34.66	60	-60	180
ARC037	RC	506579.80	7698718.95	35.06	84	-60	180
ARC038	RC	506579.56	7698740.73	35.44	120	-60	180
ARC039	RC	506777.66	7698676.15	34.67	60	-60	180
ARC040	RC	506778.78	7698700.75	34.92	84	-60	180
ARC041	RC	506779.34	7698720.74	35.06	120	-60	180
ARC042	RC	506780.18	7698740.84	35.26	150	-60	180
ARC043	RC	506897.41	7698636.05	33.75	60	-60	180
ARC044	RC	506898.75	7698660.97	34.02	84	-60	180
ARC045	RC	506899.47	7698682.47	34.15	126	-60	180
ARC046	RC	506900.75	7698701.73	34.15	162	-60	180
ARC047	RC	507477.90	7698581.08	29.79	60	-60	180
ARC048	RC	507478.81	7698623.51	30.78	114	-60	180
ARC049	RC	507478.89	7698663.21	30.84	144	-60	180
ARC050	RC	507321.28	7698921.04	35.26	120	-60	0
ARC051	RC	507237.30	7699007.97	37.79	136	-60	0
ARC052	RC	507119.90	7698982.04	38.80	162	-60	0
ARC053	RC	507120.27	7699027.22	41.43	126	-60	0
ARC054	RC	507239.93	7698930.55	36.32	102	-60	0
ARC055	RC	506536.05	7698688.90	34.65	78	-60	180
ARC056	RC	506537.23	7698708.54	34.91	90	-60	180
ARC057	RC	506538.58	7698729.57	35.07	120	-60	180
ARC058	RC	506619.04	7698677.50	34.60	60	-60	180
ARC059	RC	506619.96	7698720.27	34.95	120	-60	180
ARC060	RC	506659.80	7698720.78	35.00	84	-60	180
ARC061	RC	506660.86	7698740.46	35.30	126	-60	180
ARC062	RC	506700.16	7698720.64	35.02	84	-60	180
ARC063	RC	506700.76	7698738.61	35.31	120	-60	180
ARC064	RC	506741.50	7698676.08	34.75	60	-60	180
ARC065	RC	506742.69	7698719.49	35.01	102	-60	180

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Hole Id	Type	Z50MGA East	Z50MGA North	RL (m)	Depth (m)	Dip	Azimuth
ARC066	RC	506743.53	7698738.36	35.25	126	-60	180
ARC067	RC	506817.45	7698682.40	34.68	84	-60	180
ARC068	RC	506818.23	7698698.12	34.79	120	-60	180
ARC069	RC	506819.53	7698717.79	35.00	24	-60	180
ARC069a	RC	506821.17	7698740.74	35.24	162	-59	180
ARC070	RC	506859.97	7698659.95	34.30	60	-60	180
ARC071	RC	506860.65	7698679.67	34.44	84	-60	180
ARC072	RC	506861.28	7698695.73	34.57	126	-60	180
ARC073	RC	506935.81	7698638.23	33.73	60	-60	180
ARC074	RC	506937.98	7698657.32	33.72	84	-60	180
ARC075	RC	506941.87	7698698.15	33.99	150	-60	180
ARC076	RC	507400.58	7698609.30	30.48	66	-60	180
ARC077	RC	507400.50	7698650.77	31.23	162	-60	180
ARC078	RC	506815.36	7698661.73	34.44	60	-60	180
ARC079	RC	507478.02	7698559.54	29.86	108	-60	0
ARC080	RC	507262.21	7698939.00	35.53	84	-60	270
ARC081	RC	506781.50	7698779.75	36.00	264	-60	180
ARC082	RC	506620.49	7698740.67	35.31	150	-60	180
ARC083	RC	506934.49	7698679.81	33.85	150	-60	180
ARC084	RC	506979.13	7698619.15	33.21	72	-60	180
ARC085	RC	506979.64	7698641.44	33.61	112	-60	180
ARC086	RC	506980.15	7698660.88	33.67	142	-60	180
ARC087	RC	506980.26	7698682.07	33.58	196	-60	180
ARC088	RC	507016.43	7698621.50	33.25	70	-60	180
ARC089	RC	507017.15	7698642.72	33.28	112	-60	180
ARC090	RC	507018.63	7698663.13	33.48	150	-60	180
ARC091	RC	507019.24	7698682.15	33.39	192	-60	180
ARC092	RC	507056.17	7698600.99	32.85	72	-60	180
ARC093	RC	507056.24	7698620.13	32.91	114	-60	180
ARC094	RC	507057.26	7698639.31	33.03	150	-60	180
ARC095	RC	507058.55	7698659.65	33.05	204	-60	180
ARC096	RC	507399.31	7698630.48	30.83	168	-60	180
ARC097	RC	507398.34	7698593.01	30.44	108	-60	180
ARC098	RC	507476.26	7698602.49	29.74	96	-60	180
ARC099	RC	506534.82	7698675.09	34.35	66	-60	180
ARC100	RC	506533.66	7698649.43	34.61	42	-60	180
ARC101	RC	506744.20	7698758.65	35.66	156	-60	180
18CCAD001	DDH	506701.45	7698757.33	35.65	151.9	-60	180
18CCAD002	DDH	506778.93	7698694.92	34.86	128.1	-60	180
18CCAD003	DDH	506698.19	7698680.96	34.86	119.7	-75	0
18CCAD004	DDH	506819.62	7698709.68	34.97	141	-60	180
18CCAD005	DDH	506863.16	7698712.42	34.65	123	-60	180
18CCAD006	DDH	506901.24	7698720.42	34.82	168.2	-60	180
18CCAD007	DDH	506857.87	7698633.28	33.98	117.3	-60	0
18CCAD008	DDH	506932.99	7698937.93	41.15	81.2	-60	270
18CCAD009	DDH	506942.27	7698937.24	41.00	79.5	-60	270
18CCAD010	DDH	507480.50	7698641.39	30.88	171	-60	180
18CCAD011	DDH	507476.27	7698549.65	30.03	100.4	-50	0
18CCAD012	DDH	506935.00	7698900.00	41.00	122.9	-60	270
ARC102	RC	507479.97	7698492.34	30.12	186	-60	360
ARC103	RC	507140.08	7698638.94	32.47	66	-60	360
ARC104	RC	507138.77	7698619.69	32.23	100	-60	360
ARC105	RC	507178.05	7698631.01	32.15	66	-60	360
ARC106	RC	507179.40	7698611.33	31.75	100	-60	360
ARC107	RC	507020.40	7698703.17	33.95	200	-60	180
ARC108	RC	507060.44	7698681.49	33.40	180	-60	180
ARC109	RC	507094.07	7698618.31	32.60	60	-60	180
ARC110	RC	507094.96	7698637.99	32.89	100	-60	180
ARC111	RC	507097.26	7698658.11	32.80	140	-60	180
ARC112	RC	507098.84	7698678.28	33.79	192	-60	180
ARC113	RC	507223.16	7698598.49	31.26	60	-60	180
ARC114	RC	507220.82	7698618.44	31.74	100	-60	180
ARC115	RC	507219.45	7698638.04	31.98	174	-60	180
ARC116	RC	507219.21	7698659.19	32.03	198	-60	180
ARC117	RC	507265.20	7698598.10	31.05	126	-60	180
ARC118	RC	507262.90	7698618.54	31.55	126	-60	180
ARC119	RC	507260.44	7698637.96	31.79	180	-60	180
ARC120	RC	507258.82	7698658.86	31.83	222	-60	180
ARC121	RC	507297.44	7698590.75	30.89	108	-60	180
ARC122	RC	507297.49	7698610.02	31.04	144	-60	180
ARC123	RC	507298.51	7698629.51	31.13	180	-60	180

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Hole Id	Type	Z50MGA East	Z50MGA North	RL (m)	Depth (m)	Dip	Azimuth
ARC124	RC	507299.36	7698651.48	31.63	234	-60	180
ARC125	RC	507337.15	7698610.00	30.86	144	-60	180
ARC126	RC	507337.06	7698629.99	30.91	180	-60	170
ARC127	RC	507337.99	7698651.49	31.21	234	-60	180
ARC128	RC	507338.98	7698669.59	31.51	240	-60	180
ARC129	RC	507440.31	7698580.64	30.10	108	-60	180
ARC130	RC	507438.51	7698601.02	30.07	102	-60	180
ARC131	RC	507436.87	7698618.95	30.38	156	-60	180
ARC132	RC	507436.29	7698640.15	30.91	204	-60	180
ARC133	RC	507435.33	7698660.76	31.04	228	-60	180
ARC134	RC	507401.86	7698670.28	31.51	204	-60	180
ARC135	RC	507520.18	7698581.17	29.61	100	-60	180
ARC136	RC	507520.37	7698600.39	29.77	108	-60	180
ARC137	RC	507519.26	7698620.81	30.16	168	-60	180
ARC138	RC	507519.31	7698639.04	30.47	228	-60	180
ARC139	RC	507518.47	7698659.64	30.58	240	-60	180
ARC140	RC	506458.87	7698639.22	34.32	150	-60	180
ARC141	RC	506458.53	7698679.20	34.50	120	-60	180
ARC142	RC	506458.47	7698720.23	34.81	120	-60	180
ARC143	RC	506457.91	7698760.55	35.38	120	-60	180
ARC144	RC	506540.10	7698600.73	34.52	120	-60	360
ARC145	RC	506579.86	7698638.21	34.62	120	-60	360
ARC146	RC	506578.83	7698620.55	34.42	162	-60	360
ARC147	RC	507559.44	7698601.35	29.30	114	-60	180
ARC148	RC	507559.35	7698620.40	29.53	192	-60	180
ARC149	RC	507559.90	7698639.73	29.80	192	-60	180
ARC150	RC	507559.33	7698661.84	30.00	179	-60	180
ARC151	RC	506620.28	7698760.51	35.54	144	-60	180
ARC152	RC	506620.98	7698780.26	35.91	174	-60	180
ARC153	RC	506658.93	7698761.24	35.63	162	-60	180
ARC154	RC	506660.45	7698782.15	36.06	198	-60	180
ARC155	RC	506698.20	7698781.25	36.02	192	-60	180
ARC156	RC	506743.89	7698779.09	35.86	210	-60	180
ARC157	RC	506779.69	7698758.49	35.55	180	-60	180
ARC158	RC	506821.59	7698757.99	35.51	198	-60	180
ARC159	RC	506862.77	7698729.18	34.78	160	-60	180
ARC160	RC	506941.80	7698719.90	35.28	180	-60	180
ARC161	RC	506980.51	7698702.55	34.08	180	-60	180
ARC162	RC	507600.15	7698629.93	29.29	90	-60	180
ARC163	RC	507600.96	7698609.92	29.02	90	-60	360
ARC164	RC	507601.33	7698588.60	29.43	120	-60	360
ARC165	RC	507267.14	7698578.07	30.96	90	-60	360
ARC166	RC	507296.25	7698571.22	30.83	150	-60	180
ARC167	RC	507334.40	7698590.07	30.70	90	-60	180
ARC168	RC	507014.61	7698941.39	39.07	114	-60	270
ARC169	RC	507048.86	7698941.57	38.16	120	-60	270
ARC170	RC	507088.67	7698941.13	37.69	120	-60	270
ARC171	RC	507129.79	7698977.82	38.67	102	-60	270
ARC172	RC	507639.72	7698638.41	29.10	84	-60	360
ARC173	RC	507642.44	7698617.75	29.00	114	-60	360
ARC174	RC	507643.99	7698599.74	28.90	130	-60	360
ARC175	RC	507602.60	7698567.75	29.47	138	-60	360
ARC176	RC	507179.52	7698602.41	31.70	150	-60	180
ARC177	RC	507176.30	7698621.93	32.26	144	-60	180
ARC178	RC	507175.39	7698643.09	32.40	186	-60	180
ARC179	RC	507174.97	7698661.71	33.13	200	-60	180
ARC180	RC	507645.43	7698579.89	29.17	114	-60	360
ARC181	RC	507678.56	7698651.72	28.72	72	-60	360
ARC182	RC	507679.90	7698630.58	28.96	90	-60	360
ARC183	RC	507679.21	7698611.67	29.02	114	-60	360
ARC184	RC	507517.08	7698421.77	30.67	330	-60	360
ARC185	RC	507640.80	7698723.54	29.45	102	-60	360
ARC186	RC	507640.13	7698703.37	29.33	114	-60	360
ARC187	RC	507639.70	7698683.63	29.31	126	-60	360
ARC188	RC	507638.81	7698664.55	29.01	102	-60	360
ARC189	RC	507480.18	7698418.86	30.14	330	-60	360
ARC190	RC	505597.89	7698459.26	30.19	102	-60	180
ARC191	RC	505597.56	7698498.15	30.41	102	-60	180
ARC192	RC	505597.72	7698538.71	30.46	108	-60	180
ARC193	RC	505598.35	7698578.08	31.45	96	-60	180
ARC194	RC	505599.13	7698618.80	32.58	96	-60	180

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Hole Id	Type	Z50MGA East	Z50MGA North	RL (m)	Depth (m)	Dip	Azimuth
ARC195	RC	505998.22	7698699.11	33.06	102	-60	180
ARC196	RC	505998.31	7698740.52	33.95	96	-60	180
ARC197	RC	505999.01	7698779.66	35.26	102	-60	180
ARC198	RC	505998.58	7698818.62	36.63	114	-60	180
ARC199	RC	506096.57	7698451.15	32.09	102	-60	180
ARC200	RC	506098.36	7698488.64	32.13	108	-60	180
ARC201	RC	506278.74	7698700.08	34.17	102	-60	180
ARC202	RC	506278.76	7698739.96	34.45	102	-60	180
ARC203	RC	506278.79	7698783.46	34.85	102	-60	180
ARC204	RC	506277.79	7698820.49	35.19	120	-60	180
ARC205	RC	506339.04	7698500.84	33.08	48	-60	180
ARC206	RC	506338.15	7698540.51	33.43	60	-60	180
ARC207	RC	506338.18	7698579.33	33.90	90	-60	180
ARC208	RC	506378.52	7698619.50	34.17	80	-60	180
ARC209	RC	506365.12	7698639.77	34.26	96	-60	180
ARC210	RC	506577.70	7698560.35	34.28	48	-60	180
ARC211	RC	506577.92	7698599.71	34.46	48	-60	180
ARC214	RC	506978.94	7698559.98	33.05	156	-60	180
ARC215	RC	506978.39	7698599.97	32.81	114	-60	180
ARC216	RC	507257.45	7698459.80	31.66	246	-60	0
ARC217	RC	507297.79	7698670.69	31.58	282	-60	180
ARC218	RC	507338.14	7698478.57	31.17	276	-70	0
ARC219	RC	507479.71	7698460.18	30.24	270	-60	0
ARC220	RC	507598.54	7698527.51	29.49	60	-60	0
ARC221	RC	507598.73	7698549.84	29.45	150	-60	0
ARC222	RC	506573.34	7698642.27	34.54	138	-60	180
ARC223	RC	507156.74	7698981.23	38.04	102	-60	270
ARC224	RC	507197.60	7698981.29	37.08	100	-60	270
ARC225	RC	507235.47	7698980.93	37.04	102	-60	270
ARC226	RC	507276.55	7698981.44	37.30	102	-60	270
ARC227	RC	507316.39	7698980.90	36.51	102	-60	270
ARC228	RC	507356.68	7698982.38	36.07	102	-60	270
ARC229	RC	507395.57	7698980.96	35.30	102	-60	270
ARC230	RC	507238.64	7698899.72	36.72	80	-60	270
ARC231	RC	507281.81	7698900.10	35.08	102	-60	270
ARC232	RC	507317.41	7698900.47	34.72	102	-60	270
ARC233	RC	507356.66	7698900.32	34.71	102	-60	270
ARC234	RC	507400.78	7698899.93	33.87	108	-60	270
ARC235	RC	507778.11	7699021.45	31.66	120	-60	0
ARC236	RC	507777.74	7698981.95	30.40	120	-60	0
ARC237	RC	507777.56	7698943.33	30.51	120	-60	0
ARC238	RC	507777.64	7698900.10	30.03	120	-60	0
ARC239	RC	507777.35	7698862.17	29.54	120	-60	0
ARC240	RC	507777.06	7698823.61	29.06	120	-60	0
ARC241	RC	507776.99	7698781.52	28.57	120	-60	0
ARC242	RC	507777.13	7698740.44	28.39	120	-60	0
ARC243	RC	507777.14	7698698.65	28.43	300	-60	0
ARC244	RC	507777.18	7698659.53	29.54	120	-60	0
ARC245	RC	507778.07	7698620.67	29.76	100	-60	0
ARC246	RC	507625.78	7698638.78	29.06	80	-60	0
ARC247	RC	507625.21	7698599.48	29.08	120	-60	0
ARC248	RC	507625.13	7698559.76	29.29	160	-60	0
ARC249	RC	507625.29	7698520.43	30.01	210	-60	0
ARC250	RC	507651.24	7698539.99	29.80	150	-60	0
ARC251	RC	507382.98	7698569.96	30.40	100	-60	0
ARC252	RC	507382.38	7698531.21	30.71	160	-60	0
ARC253	RC	507381.76	7698489.48	30.95	210	-60	0
ARC254	RC	507436.73	7698678.37	31.11	260	-60	180
20CCAD001	DDH	507501.70	7698571.22	29.56	100	-60	0
20CCAD002	DDH	507500.54	7698531.47	30.00	160	-60	0
20CCAD003	DDH	507560.17	7698898.69	32.34	840.1	-60	180
20CCAD004	DDH	507499.35	7698490.78	30.04	210	-60	0
20CCAD005	DDH	507498.30	7698452.16	30.23	270	-60	0
20CCAD006	DDH	507538.43	7698588.26	29.49	100	-60	0
20CCAD007	DDH	507557.34	7698845.69	31.20	551.3	-55	180
20CCAD008	RC/DDH	507441.86	7698884.65	32.90	450	-60	180
20CCAD008W		DDH Wedge			422	-60	180
20CCAD009	DDH	507538.53	7698549.06	29.84	207.4	-60	0
20CCAD010	DDH	507538.95	7698508.58	29.84	250	-60	0
ARC255	RC	507280	7698940	35.7	150	-60	270.28
ARC256	RC	507320	7698940	35.7	150	-60	270.54

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Hole Id	Type	Z50MGA East	Z50MGA North	RL (m)	Depth (m)	Dip	Azimuth
ARC257	RC	507360	7698940	34.8	150	-60	269.76
ARC258	RC	507900	7698820	30	250	-60	0.79
ARC259	RC	507900	7698740	30	250	-60	2.87
ARC260	RC	507900	7698660	30	250	-60	359.55
ARC261	RC	507720	7698620	29	200	-60	358.34
ARC262	RC	507720	7698560	29	252	-60	0.02
ARC263	RC	507720	7698480	37.3	270	-60	0
ARC264	RC	507640	7698380	33	120	-60	181.58
ARC265	RC	507440	7698440	30.5	300	-60	0.41
ARC266	RC	507440	7698420	31	300	-60	354.64
ARC267	RC	507400	7698460	31	252	-60	359.08
ARC268	RC	507480	7698860	34.5	150	-60	0.12
ARC269	RC	507480	7698780	29	150	-60	0
ARC270	RC	507400	7698860	33.5	150	-60	0
ARC271	RC	507140	7698480	33	282	-60	0
ARC272	RC	507260	7698455	33	294	-65	0
ARC273	RC	507340	7698450	31	300	-70	0
ARC274	RC	507140	7698560	33	150	-60	0
ARC275	RC	507540	7698360	33	120	-60	180
ARC276	RC	507560	7698440	29	264	-60	0
ARC277	RC	507600	7698520	30	162	-60	0
ARC278	RC	507400	7698940	34	180	-60	270
ARC279	RC	507070	7698940	40	252	-60	270
ARC280	RC	506860	7698770	36	252	-60	180
ARC281	RC	506780	7698820	36	222	-60	180
ARC282	RC	506700	7698820	36	264	-60	180
ARC283	RC	506620	7698820	36	264	-60	180
ARV284	RC	506540	7698770	35	252	-60	180
ARV285	RC	506540	7698600	33	150	-60	180
ARV286	RC	506780	7698660	34.5	66	-60	180
ARV287	RC	506820	7698640	34.5	60	-60	180
ARV288	RC	507310	7698930	32	180	-60	225
ARV289	RC	507370	7698990	32	180	-60	225
ARV290	RC	507340	7698840	32	180	-60	225
ARV291	RC	507370	7698870	32	180	-60	225
ARV292	RC	507400	7698900	33	180	-60	225
ARV293	RC	507160	7698780	33	170	-60	225
ARV294	RC	507205	7698825	32	180	-60	225
ARV295	RC	507720	7698480	37.30	252	-60	180
ARV296	RC	507455	7698955	35	150	-60	225
ARV297	RC	507540	7698710	35	222	-60	0
ARV298	RC	507430	7698820	32	156	-60	225
ARV299	RC	507020	7698920	34	180	-60	270
ARV300	RC	507000	7698880	34	186	-60	270
ARV301	RC	507105	7698920	35	186	-60	270
ARV302	RC	508320	7699100	31	150	-60	0
ARV303	RC	508320	7699050	31	150	-60	0
ARV304	RC	507470	7698860	38	168	-60	225
ARV305	RC	507515	7698900	35	156	-60	225
ARV306	RC	507020	7698880	35	149	-60	270
ARV307	RC	507140	7698875	35	160	-60	225
ARV308	RC	506930	7698800	35	160	-60	135
ARV309	RC	507250	7698750	28	150	-60	225

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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	•	Reverse circulation drilling was used to obtain 1 m samples.
techniques	•	Samples were collected on a 1m basis and stockpiled.
	•	The single metre samples of any composite sample reporting greater than 0.1g/t
		Au were retrieved and assayed.
	•	Allsampleswere pulverized produce a 50 g chargefor fire assay.
Drilling	•	Reverse Circulation drilling by KTE Drilling.
techniques	•	Diamond drilling by Topdrill.
Drill sample	•	Drilling recoveries for Reverse circulation drilling were excellent, with all
recovery		samples dry.
Logging	•	Artemis Reverse Circulation drilling has been logged;
	•	Diamond coreprocessingis ongoing
Sub-sampling	•	The RC drilling rig was equipped with a rig-mounted cyclone and static cone
techniques and		splitter, which provided one bulk sample of approximately 20-30 kilograms, and
sample		a representative sub-sample of approximately 2-4 kilograms for every metre
preparation		drilled.
	•	The sample size of 2-4 kilograms is appropriate and representative of the grain
		size and mineralisation style of the deposit.
Quality of assay	•	ALS (Perth) were used for all analysis of drill samples submitted by Artemis.
data and laboratory tests		The laboratory techniques below are for all samples submitted to ALS and are considered appropriate for the style of mineralisation defined within the Carlow
		Castle Project area:
	•	Samples above 3Kg riffle split.
	•	Pulverise to 95% passing 75 microns
	•	50-gram Fire Assay (Au-AA26) with ICP finish - Au.
	•	4 Acid Digest ICP-AES Finish (ME-ICP61) – 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.
	•	Ore Grade 4 Acid Digest ICP-AES Finish (ME-OG62)
	•	Standards were used for external laboratory checks by Artemis.
	•	Duplicates were used for external laboratory checks by Artemis.
Verification of	•	Electronic data capture, storage and transfer as .csv. Routine QC checks
sampling and assaying		performed by contractor and independent geophysical consultant. Data were found to be of high quality and in accordance with contract specifications
	•	Laboratory standards and blank samples were inserted at regular intervals and
		some duplicate samples were taken for QC checks.
Location of	•	A Garmin GPSMap62 hand-held GPS was used to define the location of the drill
data points		hole collars. Standard practice is for 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.
	•	Hole collars surveyed by licensed surveyors on completion of the drilling.
	•	Zone 50 (GDA 94).
Data spacing	•	Current drill hole spacing is variable and dependent on specific geological, and
and distribution		geochemical targets.
	•	No sample compositing has been used for drilling completed by Artemis. All
		results reported are the result of 1 metre downhole sample intervals.
Orientation of data in	•	Drill holes were designed to be perpendicular to the strike of known
relation to geological		mineralisation. Due to the structural and geological complexity of the area, it is
structure		mineralisation of unknown orientation can be intersected.
Sample security	•	The chain of custody is managed by the supervising geologist 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

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Criteria		Commentary
	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 companythen delivers the samples directlyto the laboratory.
Audits or reviews	•	Data is validated upon up-loading into the master database. Any validation
		issues identified are investigated prior to reporting of results.

SECTION 2 REPORTING OF EXPLORATION RESULTS

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

Criteria		Commentary
Mineral tenement and		•Drilling by Artemis was carried out on E47/1797 – 100% owned by Artemis
land tenure status		Resources Ltd. This tenement forms a part of a broader tenement package that
		comprises the West Pilbara Project.
		•This tenement is in good standing.
Exploration done by	•	The most significant work to have been completed historically in the Carlow Castle
other parties		area, including the Little Fortune and Good Luck 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	•	The Carlow Castle Co-Cu-Au prospect includes a number of mineralised shear
		zones, located on the northern margin of the Andover Intrusive Complex.
		Mineralisation is exposed in numerous workings at surface along numerous 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	•	Drill hole information is contained within this release.
Data aggregation	•	All intervals reported are composed of 1 metre down hole intervals for Reverse
methods		Circulation drilling, and sample intervals are used for Diamond core are 1m intervals
		only and not length weighted.
	•	No upper or lower cut-off grades have been used in reporting results.
	•	No metal equivalent calculations are used in this report.
Relationship between	•	True widths of mineralisation have not been calculated for this report, and as such
mineralisation widths and intercept lengths	•	all intersections reported are down-hole thicknesses. A better understanding of the deposit geometry will be achieved on thorough
		interpretation of the data. True thicknesses may be reported at a later date if
		warranted. Due to the moderately to steeply dipping nature of the mineralised zones,
		it is expected that true thicknesses will be less than the reported down-hole
		thicknesses.
Diagrams	•	Appropriate plans are shown in the text.

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Criteria		Commentary
Balanced reporting	•	Reporting of results in this report is considered balanced.
Other substantive	•	Targeting for the RC drilling completed by Artemis was based on compilation of
exploration data		historic exploration data, and the surface expression of the targeted mineralised
		shear zones and associated historic workings.
Further work	•	The results at the Carlow Castle Co-Cu-Au project warrant further drilling. The drill
		programme results to date are considered excellent.
	•	An IP programme and detailed low level aeromagnetic survey are scheduled to be
		completed in the coming weeks.

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