Artemis Resources Limited — Capital/Financing Update 2021

Feb 3, 2021

==> picture [363 x 34] intentionally omitted <==

4th February 2021

==> picture [138 x 52] intentionally omitted <==

ASX Announcement

Up to 2.62% Cobalt and 7.44% Copper compliment excellent Gold results from drilling at Carlow Castle

Highlights

Further assays received from the 2020 42-hole, multi-rig drilling campaign at the Carlow Castle Gold Copper Cobalt Project.

New Carlow Deeps “Feeder Zone” drill holes 20CCAD007 and 008W

• 7m @ 1.08g/t Au, 0.92% Cu, 1.03% Co from 618m in 20CCAD008W, including 2m @ 3.18g/t Au, 2.04% Cu, 2.62% Co from 619m.

• 3m @ 0.74g/t Au, 0.14% Cu, 1.25% Co from 575m.

• 4m @ 2.27g/t Au, 1.27% Cu, 0.38% Co from 504m in 20CCAD007, including 1m @ 8.07g/t Au, 3.56% Cu, 0.80% Co from 505m.

Resource area infill diamond hole 20CCAD010

• 8m @ 5.63g/t Au, 3.87% Cu, 0.21% Co from 122m in 20CCAD010, including 3m @ 11.62g/t Au, 7.44% Cu, 0.35% Co from 127m; and

• 17m @ 2.13g/t Au, 1.16% Cu, 0.36% Co from 141m, including 5m @ 5.05g/t Au, 1.25% Cu, 1.25% Co from 150m.

These latest drill results demonstrate that high grade gold, copper and cobalt is being routinely discovered at Carlow Castle, with exceptional combined metal content at Carlow Deeps.

The Carlow Castle 10,000m 2021 RC drill campaign is approximately 50% complete (23 of 35 planned holes), targeting step-out, new discovery zones, and resource extensions.

==> picture [472 x 49] intentionally omitted <==

==> picture [49 x 19] intentionally omitted <==

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

Page 1 of 16

==> picture [472 x 32] intentionally omitted <==

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.

==> picture [428 x 190] intentionally omitted <==

Figure 1: Uncut diamond drill core from hole 20CCAD008W targeting Carlow Deeps. Logged matrix to semi-massive Chalcopyrite, Cobaltite and Pyrrhotite and Pyrite. Final assay results and interval overlain.

Alastair Clayton, Executive Director commented : “Given the strength of the Gold grades being reported from our drill campaign, it is sometimes easy to overlook the exceptional Copper and Cobalt grades at Carlow.

“With Copper trading near 5-year highs at ~US$7,850/t and Cobalt fetching ~US$41,250/t, more than twice that of Nickel, the possible economic contribution of these metals to any future development at Carlow has the potential to be significant.

“As both metals are keenly sought after to support the booming global electric vehicle (EV) market, Carlow may present itself as a Western Australian supplier of Copper and Cobalt to global markets.

“At Carlow Deeps, all three holes targeting mineralisation up to 250m vertically below the existing resource shells to extend known mineralisation from surface to nearly 500mRL were successful.

“Carlow Deeps is a large target area comprising a near vertical E-W striking panel of mineralisation interpreted to be a chilled or feeder zone beneath the 1.2km strike of the Carlow resource area.

“Thus far we have two holes on section 507540E and another 120m to the west. We intend to keep drilling Carlow Deeps vertically to 500mRL and along strike to the east and west with the goal of proving up a substantial resource.

“There are still more assays from our Q4 2020 programme due soon and our 10,000m, as our 2021 RC drill programme nears the halfway point.”

==> picture [49 x 19] intentionally omitted <==

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

Page 2 of 16

Summary of Drilling at Carlow Castle

Drilling at Carlow Castle remains ongoing, with results from the 2020 RC and diamond drilling continuing to come in. Most recent results are highlighted in Figures 4 , 5 and Table 1 , which highlights significant intercepts to date and the number of pending assays.

These assay results clearly confirm the Carlow mineralised system continues to depth with multiple intersections over approximately 150m of strike length 500m below surface. Figure 3 shows a simple scatterplot of gold values >0.5g/t Au (yellow) and >1g/t Au (red).

Significantly the intersections at depth show major high-grade Cobalt values, especially in 20CCA008W, highlighting the continued variation/zonation within the deposit.

The sections in Figures 4 & 5 show the deep intersections are in the appropriate downdip position to form a continuous zone of mineralisation with shallow drilling; this will require significant intermediate drilling from the south to better define the intervening zone.

~5,000m of the 10,000m RC drilling programme has been completed, targeting step out drilling, the new Discovery Zone and resource extension (23 of 35 planned holes). A portion of this programme is allotted to test targets generated from the IP survey currently in process. Both IP survey and the drilling programme have been placed on hold until the current weather event passes and conditions improve.

Once RC drilling resumes several holes will be repurposed to test the Discovery Zone on an NW-SE orientation; the traverses will be extended to investigate the secondary target zone to the west. 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.

==> picture [49 x 19] intentionally omitted <==

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

Page 3 of 16

==> picture [462 x 324] intentionally omitted <==

Figure 2: Carlow Castle current drilling programme map showing current reverse circulation (RC) hole locations, with previous drill and 2019 inferred Mineral Resource Estimate (MRE) schematic outline (as released to the ASX on 20 November 2019), with the location schematic drill cross sections 507390mE and 507540mE +/-10m shown, and as cross ecttions in Figures 4 and 5 below. The outlined areas show the new Northern Discovery Zone and new target zone.

==> picture [461 x 290] intentionally omitted <==

Figure 3: Carlow Castle 2D Longitudinal section with all gold point values projected orthogonally. Values>0.5g/t Au yellow, values>1g/t Au red. Pit outlines are from the 2019 inferred Mineral Resource Estimate (MRE) schematic outline (as released to the ASX on 20 November 2019). The long-section highlights extent of open potential between the current resource and the Carlow Deeps program.

==> picture [472 x 36] intentionally omitted <==

==> picture [49 x 19] intentionally omitted <==

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

Page 4 of 16

==> picture [472 x 86] intentionally omitted <==

==> picture [400 x 543] intentionally omitted <==

Figure 4: Carlow Castle current programme interpretive drill section 507390mE +/-10m showing recent intercepts from the Nov2020 RC drilling and deep diamond hole 20CCAD008W.

==> picture [49 x 19] intentionally omitted <==

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

Page 5 of 16

==> picture [400 x 542] intentionally omitted <==

Figure 5: Carlow Castle current programme interpretive drill section 507540mE +/-10m showing recent intercepts from the Dec2020 Resource Infill diamond drilling and deep diamond holes 20CCAD003 and 20CCAD007.

==> picture [49 x 19] intentionally omitted <==

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

Page 6 of 16

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.

==> picture [479 x 90] intentionally omitted <==

For further information contact:

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

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

==> picture [49 x 19] intentionally omitted <==

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

Page 7 of 16

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

Hole_ID	Comments	mFrom	mTo	m	Au g/t	Co %	Cu %
ARC223	NSI
ARC224	NSI
ARC225		28	33	5	0.42	0.07	0.66
ARC225		58	61	3	0.35	0.38	0.07
ARC225		86	88	2	2.28	0.51	0.57
ARC226		32	37	5	4.36	0.49	2.67
ARC226	Including	33	35	2	9.26	0.98	4.94
ARC226		48	50	2	0.27	0.07	0.92
ARC226		52	53	1	3.03	0.3	3.3
ARC226		60	61	0.65	0.65	0.54	0.78
ARC227		68	71
ARC227		80	81
ARC228		73	77	4	0.19	0.27	0.35
ARC229	NSI
ARC230	NSI
ARC231		35	36	1	0.24	137	2.9
ARC232		11	12		0.97	0.01	0.33
ARC233		48	50	2	0.62	0.104	1.09
ARC233		71	82	11	4.24	0.03	1.58
ARC233	Including	72	74	2	18.15	0.07	5.56
ARC234		102	108	6	2.72	0.22	3.03
ARC235	NSI
ARC236	NSI
ARC237	NSI
ARC238	NSI
ARC239	NSI
ARC240	NSI
ARC241	NSI
ARC242	NSI
ARC243		87	92	5	0.11	0.06	0.47
ARC244		75	76	2	1.57	0.01	0.01
ARC244		113	114	1	7.43	0.04	0.05
ARC245	NSI
ARC246		3	6	3	1.52	0.05	2.79
ARC246		43	45	2	1.06	0.05	0.11
ARC247	Pending
ARC248		113	114	1	1.03	0.08	1.00
ARC249		121	123	1	0.55	0.01	1.05
ARC249		174	179	5	0.46	0.04	0.54
ARC250	Pending
ARC251		58	60	2	0.69	0.02	0.3
ARC252		82	87	5	2.4	0.09	0.63
ARC253		60	61	1	1.52	0.01	0.1
ARC253		132	176	44	2.00	0.15	0.71
ARC253	including	144	145	1	10.4	0.32	2.49
ARC253	including	155	156	1	10.9	0.2	0.8
ARC254		134	135	1	1.24	0.01	0.2
ARC254		221	230	9	1.11	0.03	0.47
20CCAD001		6	14	8	0.61	0.07	0.52
20CCAD001		31	32	1	1.04	0.29	1.17
20CCAD001		36	44	8	0.58	0.04	0.57
20CCAD002		56	60	4	0.63	0.05	0.23
20CCAD002		69	74	5	1.86	0.1	0.43
20CCAD002		84	91	7	1.49	0.22	0.7
20CCAD002		94	98	4	0.67	0.05	0.39
20CCAD002		102	104	2	0.17	0.01	1.08
20CCAD002		112	114	2	0.15	0.07	1.9
20CCAD002		121	131	10	0.48	0.06	0.62

==> picture [49 x 19] intentionally omitted <==

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

Page 8 of 16

	Hole_ID	Comments	mFrom	mTo	m	Au g/t	Co %	Cu %
	20CCAD003		178	180	2	5.71	0.01	0.48
	20CCAD003		245	246	2	1.53	0.01	0.48
	20CCAD003		544	545	2	0.7	0.00	0.39
	20CCAD003		634	635	2	1.31	0.00	0.36
	20CCAD003		639	643	4	11.1	0.18	2.01
	20CCAD003	including	639	640	1	33.7	0.14	1.32
	20CCAD003		648	649	1	1.57	0.14	1.09
	20CCAD003		708	709	1	0.51	0.13	0.07
	20CCAD003		712	713	1	0.61	0.36	0.27
	20CCAD003		763	766	3	0.78	0.10	0.24
	20CCAD003		796	798	2	0.85	0.17	0.57
	20CCAD003		797	798	1	1.11	0.25	0.85
	20CCAD003		801	802	1	0.83	0.01	0.24
	20CCAD004		120	134	14	4.92	0.14	1.04
	20CCAD004		144	152	8	7.34	1.03	1.18
	20CCAD004	Including	147	149	2	17.93	2.36	1.48
	20CCAD004		155	174	19	1.59	0.15	1.06
	20CCAD005		27	30	3	1.11	0.002	0.0065
	20CCAD005_5A		177	183	6	3.42	0.43	0.64
	20CCAD005_5A	including	177	179	2	7.17	0.93	1.43
	20CCAD005_5A		190	211	21	1.05	0.06	0.49
	20CCAD005_5A		190	203	13	1.15	0.06	0.56
	20CCAD005_5A		206	211	5	1.28	0.06	0.53
	20CCAD006		50	62	12	1.18	0.13	1.19
	20CCAD006	including	50	56	4	1.9	0.22	2.01
	20CCAD007		400	401	1	0.53	0.02	1.32
	20CCAD007		432	433	1	0.8	0.01	0.22
	20CCAD007		438	439	1	1.25	0.01	0.09
	20CCAD007		504	508	4	2.27	0.38	1.27
	20CCAD007	Including	505	506	1	8.07	0.8	3.56
	20CCAD008		429	430	1	3.56	0.01	0.17
	20CCAD008W		444	445	1	1.14	0.07	0.06
	20CCAD008W		451	453	2	0.98	0.16	0.26
	20CCAD008W		575	578	3	0.74	1.25	0.14
	20CCAD008W		618	625	7	1.08	0.92	1.03
	20CCAD008W	Including	619	621	2	3.18	2.62	2.04
	20CCAD009		49	58	9	1.79	0.39	0.94
	20CCAD009	including	49	53	4	3.14	0.75	1.83
	20CCAD009		74	83	9	2.12	0.39	1.63
	20CCAD009	Including	75	78	3	4.04	0.75	0.97
	20CCAD009		101	111	10	0.92	0.1	1.14
	20CCAD010		94	95	1	1.87	0.02	1.05
	20CCAD010		112	113	1	2.26	0.47	4.84
	20CCAD010		122	130	8	5.63	0.21	3.87
	20CCAD010	Including	127	130	3	11.62	0.35	7.44
	20CCAD010		141	158	17	2.13	0.36	1.16
	20CCAD010	Including	150	154	4	5.05	1.05	1.25

==> picture [49 x 19] intentionally omitted <==

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

Page 9 of 16

Table 2: Carlow Castle drill collar information.

Hole Id	Type	Z50MGA East	Z50MGA North	RL (m)	Depth (m)	Dip	Azimuth	Date
ARC001	RC	506929.95	7698920.09	40.28	72	-60	270	Mar-17
ARC002	RC	506959.14	7698916.27	39.75	90	-60	270	Mar-17
ARC003	RC	506909.93	7698896.80	39.14	54	-60	270	Mar-17
ARC004	RC	506925.68	7698896.50	39.24	78	-60	270	Mar-17
ARC005	RC	506888.51	7698919.80	40.25	60	-60	90	Mar-17
ARC006	RC	506947.24	7698894.26	39.03	90	-60	270	Mar-17
ARC007	RC	506911.18	7698937.79	41.59	48	-60	270	Mar-17
ARC008	RC	506933.10	7698937.94	41.14	78	-60	270	Mar-17
ARC009	RC	506904.79	7698960.57	42.71	48	-60	270	Mar-17
ARC010	RC	506922.98	7698961.93	42.84	78	-60	270	Mar-17
ARC011	RC	506917.24	7698917.58	40.60	48	-60	270	Mar-17
ARC012	RC	506902.24	7698878.73	38.33	48	-60	270	Mar-17
ARC013	RC	506922.61	7698879.32	38.36	72	-60	270	Mar-17
ARC014	RC	506944.97	7698880.09	38.84	90	-60	270	Mar-17
ARC015	RC	506899.23	7698837.97	38.58	48	-60	270	Mar-17
ARC016	RC	506919.31	7698838.32	41.38	78	-60	270	Mar-17
ARC017	RC	506869.79	7698799.07	36.64	48	-60	270	Mar-17
ARC018	RC	506887.95	7698799.83	37.70	48	-60	270	Mar-17
ARC019	RC	506906.80	7698800.96	39.10	60	-60	270	Mar-17
ARC020	RC	506927.68	7698801.91	41.30	90	-60	270	Apr-17
ARC021	RC	506868.38	7698761.99	35.54	48	-60	270	Apr-17
ARC022	RC	506887.74	7698761.44	36.24	48	-60	270	Apr-17
ARC023	RC	506907.53	7698760.64	37.49	78	-60	270	Apr-17
ARC024	RC	506579.85	7698699.77	34.80	60	-60	180	Apr-17
ARC025	RC	506619.19	7698698.13	34.79	66	-60	180	Apr-17
ARC026	RC	506659.40	7698699.29	34.97	60	-60	180	Apr-17
ARC027	RC	506699.06	7698699.67	34.80	60	-60	180	Apr-17
ARC028	RC	506742.04	7698701.18	34.55	60	-60	180	Apr-17
ARC029	RC	506944.14	7698957.64	42.43	84	-60	270	Apr-17
ARC030	RC	506952.30	7698938.33	40.81	90	-60	270	Apr-17
ARC031	RC	506973.27	7698916.87	39.68	102	-60	270	Apr-17
ARC032	RC	506969.77	7698896.34	39.26	108	-60	270	Apr-17
ARC033	RC	506895.77	7698937.59	41.27	23	-60	90	Apr-17
ARC033a	RC	506893.23	7698937.48	41.35	90	-60	90	Apr-17
ARC034	RC	506973.31	7698940.16	40.47	137	-60	270	Apr-17
ARC036	RC	506579.18	7698677.42	34.66	60	-60	180	Oct-17
ARC037	RC	506579.80	7698718.95	35.06	84	-60	180	Oct-17
ARC038	RC	506579.56	7698740.73	35.44	120	-60	180	Oct-17
ARC039	RC	506777.66	7698676.15	34.67	60	-60	180	Oct-17
ARC040	RC	506778.78	7698700.75	34.92	84	-60	180	Oct-17
ARC041	RC	506779.34	7698720.74	35.06	120	-60	180	Oct-17
ARC042	RC	506780.18	7698740.84	35.26	150	-60	180	Oct-17
ARC043	RC	506897.41	7698636.05	33.75	60	-60	180	Oct-17
ARC044	RC	506898.75	7698660.97	34.02	84	-60	180	Oct-17
ARC045	RC	506899.47	7698682.47	34.15	126	-60	180	Oct-17
ARC046	RC	506900.75	7698701.73	34.15	162	-60	180	Oct-17
ARC047	RC	507477.90	7698581.08	29.79	60	-60	180	Oct-17
ARC048	RC	507478.81	7698623.51	30.78	114	-60	180	Oct-17
ARC049	RC	507478.89	7698663.21	30.84	144	-60	180	Oct-17
ARC050	RC	507321.28	7698921.04	35.26	120	-60	0	Oct-17
ARC051	RC	507237.30	7699007.97	37.79	136	-60	0	Oct-17
ARC052	RC	507119.90	7698982.04	38.80	162	-60	0	Oct-17
ARC053	RC	507120.27	7699027.22	41.43	126	-60	0	Oct-17
ARC054	RC	507239.93	7698930.55	36.32	102	-60	0	Oct-17
ARC055	RC	506536.05	7698688.90	34.65	78	-60	180	Oct-17
ARC056	RC	506537.23	7698708.54	34.91	90	-60	180	Oct-17
ARC057	RC	506538.58	7698729.57	35.07	120	-60	180	Oct-17
ARC058	RC	506619.04	7698677.50	34.60	60	-60	180	Oct-17
ARC059	RC	506619.96	7698720.27	34.95	120	-60	180	Oct-17
ARC060	RC	506659.80	7698720.78	35.00	84	-60	180	Oct-17
ARC061	RC	506660.86	7698740.46	35.30	126	-60	180	Oct-17
ARC062	RC	506700.16	7698720.64	35.02	84	-60	180	Oct-17
ARC063	RC	506700.76	7698738.61	35.31	120	-60	180	Oct-17
ARC064	RC	506741.50	7698676.08	34.75	60	-60	180	Oct-17
ARC065	RC	506742.69	7698719.49	35.01	102	-60	180	Oct-17
ARC066	RC	506743.53	7698738.36	35.25	126	-60	180	Oct-17

==> picture [49 x 19] intentionally omitted <==

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

Page 10 of 16

Hole Id	Type	Z50MGA East	Z50MGA North	RL (m)	Depth (m)	Dip	Azimuth	Date
ARC067	RC	506817.45	7698682.40	34.68	84	-60	180	Oct-17
ARC068	RC	506818.23	7698698.12	34.79	120	-60	180	Oct-17
ARC069	RC	506819.53	7698717.79	35.00	24	-60	180	Oct-17
ARC069a	RC	506821.17	7698740.74	35.24	162	-59	180	Oct-17
ARC070	RC	506859.97	7698659.95	34.30	60	-60	180	Oct-17
ARC071	RC	506860.65	7698679.67	34.44	84	-60	180	Oct-17
ARC072	RC	506861.28	7698695.73	34.57	126	-60	180	Oct-17
ARC073	RC	506935.81	7698638.23	33.73	60	-60	180	Oct-17
ARC074	RC	506937.98	7698657.32	33.72	84	-60	180	Oct-17
ARC075	RC	506941.87	7698698.15	33.99	150	-60	180	Oct-17
ARC076	RC	507400.58	7698609.30	30.48	66	-60	180	Oct-17
ARC077	RC	507400.50	7698650.77	31.23	162	-60	180	Oct-17
ARC078	RC	506815.36	7698661.73	34.44	60	-60	180	Oct-17
ARC079	RC	507478.02	7698559.54	29.86	108	-60	0	Oct-17
ARC080	RC	507262.21	7698939.00	35.53	84	-60	270	Oct-17
ARC081	RC	506781.50	7698779.75	36.00	264	-60	180	Oct-17
ARC082	RC	506620.49	7698740.67	35.31	150	-60	180	Apr-18
ARC083	RC	506934.49	7698679.81	33.85	150	-60	180	Apr-18
ARC084	RC	506979.13	7698619.15	33.21	72	-60	180	Apr-18
ARC085	RC	506979.64	7698641.44	33.61	112	-60	180	Apr-18
ARC086	RC	506980.15	7698660.88	33.67	142	-60	180	Apr-18
ARC087	RC	506980.26	7698682.07	33.58	196	-60	180	Apr-18
ARC088	RC	507016.43	7698621.50	33.25	70	-60	180	Apr-18
ARC089	RC	507017.15	7698642.72	33.28	112	-60	180	Apr-18
ARC090	RC	507018.63	7698663.13	33.48	150	-60	180	Apr-18
ARC091	RC	507019.24	7698682.15	33.39	192	-60	180	Apr-18
ARC092	RC	507056.17	7698600.99	32.85	72	-60	180	Apr-18
ARC093	RC	507056.24	7698620.13	32.91	114	-60	180	Apr-18
ARC094	RC	507057.26	7698639.31	33.03	150	-60	180	Apr-18
ARC095	RC	507058.55	7698659.65	33.05	204	-60	180	Apr-18
ARC096	RC	507399.31	7698630.48	30.83	168	-60	180	Apr-18
ARC097	RC	507398.34	7698593.01	30.44	108	-60	180	Apr-18
ARC098	RC	507476.26	7698602.49	29.74	96	-60	180	Apr-18
ARC099	RC	506534.82	7698675.09	34.35	66	-60	180	Apr-18
ARC100	RC	506533.66	7698649.43	34.61	42	-60	180	Apr-18
ARC101	RC	506744.20	7698758.65	35.66	156	-60	180	May-18
18CCAD001	DDH	506701.45	7698757.33	35.65	151.9	-60	180	Mar-18
18CCAD002	DDH	506778.93	7698694.92	34.86	128.1	-60	180	Mar-18
18CCAD003	DDH	506698.19	7698680.96	34.86	119.7	-75	0	Mar-18
18CCAD004	DDH	506819.62	7698709.68	34.97	141	-60	180	Mar-18
18CCAD005	DDH	506863.16	7698712.42	34.65	123	-60	180	Apr-18
18CCAD006	DDH	506901.24	7698720.42	34.82	168.2	-60	180	Apr-18
18CCAD007	DDH	506857.87	7698633.28	33.98	117.3	-60	0	Apr-18
18CCAD008	DDH	506932.99	7698937.93	41.15	81.2	-60	270	Apr-18
18CCAD009	DDH	506942.27	7698937.24	41.00	79.5	-60	270	Apr-18
18CCAD010	DDH	507480.50	7698641.39	30.88	171	-60	180	Apr-18
18CCAD011	DDH	507476.27	7698549.65	30.03	100.4	-50	0	Apr-18
18CCAD012	DDH	506935.00	7698900.00	41.00	122.9	-60	270	Apr-18
ARC102	RC	507479.97	7698492.34	30.12	186	-60	360	Jul-18
ARC103	RC	507140.08	7698638.94	32.47	66	-60	360	Jul-18
ARC104	RC	507138.77	7698619.69	32.23	100	-60	360	Jul-18
ARC105	RC	507178.05	7698631.01	32.15	66	-60	360	Jul-18
ARC106	RC	507179.40	7698611.33	31.75	100	-60	360	Jul-18
ARC107	RC	507020.40	7698703.17	33.95	200	-60	180	Jul-18
ARC108	RC	507060.44	7698681.49	33.40	180	-60	180	Jul-18
ARC109	RC	507094.07	7698618.31	32.60	60	-60	180	Jul-18
ARC110	RC	507094.96	7698637.99	32.89	100	-60	180	Jul-18
ARC111	RC	507097.26	7698658.11	32.80	140	-60	180	Jul-18
ARC112	RC	507098.84	7698678.28	33.79	192	-60	180	Jul-18
ARC113	RC	507223.16	7698598.49	31.26	60	-60	180	Jul-18
ARC114	RC	507220.82	7698618.44	31.74	100	-60	180	Jul-18
ARC115	RC	507219.45	7698638.04	31.98	174	-60	180	Jul-18
ARC116	RC	507219.21	7698659.19	32.03	198	-60	180	Jul-18
ARC117	RC	507265.20	7698598.10	31.05	126	-60	180	Jul-18
ARC118	RC	507262.90	7698618.54	31.55	126	-60	180	Jul-18
ARC119	RC	507260.44	7698637.96	31.79	180	-60	180	Jul-18
ARC120	RC	507258.82	7698658.86	31.83	222	-60	180	Jul-18
ARC121	RC	507297.44	7698590.75	30.89	108	-60	180	Jul-18
ARC122	RC	507297.49	7698610.02	31.04	144	-60	180	Jul-18
ARC123	RC	507298.51	7698629.51	31.13	180	-60	180	Jul-18

==> picture [49 x 19] intentionally omitted <==

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

Page 11 of 16

Hole Id	Type	Z50MGA East	Z50MGA North	RL (m)	Depth (m)	Dip	Azimuth	Date
ARC124	RC	507299.36	7698651.48	31.63	234	-60	180	Jul-18
ARC125	RC	507337.15	7698610.00	30.86	144	-60	180	Jul-18
ARC126	RC	507337.06	7698629.99	30.91	180	-60	170	Jul-18
ARC127	RC	507337.99	7698651.49	31.21	234	-60	180	Jul-18
ARC128	RC	507338.98	7698669.59	31.51	240	-60	180	Jul-18
ARC129	RC	507440.31	7698580.64	30.10	108	-60	180	Jul-18
ARC130	RC	507438.51	7698601.02	30.07	102	-60	180	Jul-18
ARC131	RC	507436.87	7698618.95	30.38	156	-60	180	Jul-18
ARC132	RC	507436.29	7698640.15	30.91	204	-60	180	Jul-18
ARC133	RC	507435.33	7698660.76	31.04	228	-60	180	Jul-18
ARC134	RC	507401.86	7698670.28	31.51	204	-60	180	Jul-18
ARC135	RC	507520.18	7698581.17	29.61	100	-60	180	Jul-18
ARC136	RC	507520.37	7698600.39	29.77	108	-60	180	Jul-18
ARC137	RC	507519.26	7698620.81	30.16	168	-60	180	Jul-18
ARC138	RC	507519.31	7698639.04	30.47	228	-60	180	Jul-18
ARC139	RC	507518.47	7698659.64	30.58	240	-60	180	Jul-18
ARC140	RC	506458.87	7698639.22	34.32	150	-60	180	Jul-18
ARC141	RC	506458.53	7698679.20	34.50	120	-60	180	Aug-18
ARC142	RC	506458.47	7698720.23	34.81	120	-60	180	Aug-18
ARC143	RC	506457.91	7698760.55	35.38	120	-60	180	Aug-18
ARC144	RC	506540.10	7698600.73	34.52	120	-60	360	Aug-18
ARC145	RC	506579.86	7698638.21	34.62	120	-60	360	Aug-18
ARC146	RC	506578.83	7698620.55	34.42	162	-60	360	Aug-18
ARC147	RC	507559.44	7698601.35	29.30	114	-60	180	Aug-18
ARC148	RC	507559.35	7698620.40	29.53	192	-60	180	Aug-18
ARC149	RC	507559.90	7698639.73	29.80	192	-60	180	Aug-18
ARC150	RC	507559.33	7698661.84	30.00	179	-60	180	Aug-18
ARC151	RC	506620.28	7698760.51	35.54	144	-60	180	Aug-18
ARC152	RC	506620.98	7698780.26	35.91	174	-60	180	Aug-18
ARC153	RC	506658.93	7698761.24	35.63	162	-60	180	Aug-18
ARC154	RC	506660.45	7698782.15	36.06	198	-60	180	Aug-18
ARC155	RC	506698.20	7698781.25	36.02	192	-60	180	Aug-18
ARC156	RC	506743.89	7698779.09	35.86	210	-60	180	Aug-18
ARC157	RC	506779.69	7698758.49	35.55	180	-60	180	Aug-18
ARC158	RC	506821.59	7698757.99	35.51	198	-60	180	Aug-18
ARC159	RC	506862.77	7698729.18	34.78	160	-60	180	Aug-18
ARC160	RC	506941.80	7698719.90	35.28	180	-60	180	Aug-18
ARC161	RC	506980.51	7698702.55	34.08	180	-60	180	Aug-18
ARC162	RC	507600.15	7698629.93	29.29	90	-60	180	Aug-18
ARC163	RC	507600.96	7698609.92	29.02	90	-60	360	Aug-18
ARC164	RC	507601.33	7698588.60	29.43	120	-60	360	Aug-18
ARC165	RC	507267.14	7698578.07	30.96	90	-60	360	Aug-18
ARC166	RC	507296.25	7698571.22	30.83	150	-60	180	Aug-18
ARC167	RC	507334.40	7698590.07	30.70	90	-60	180	Aug-18
ARC168	RC	507014.61	7698941.39	39.07	114	-60	270	Aug-18
ARC169	RC	507048.86	7698941.57	38.16	120	-60	270	Aug-18
ARC170	RC	507088.67	7698941.13	37.69	120	-60	270	Aug-18
ARC171	RC	507129.79	7698977.82	38.67	102	-60	270	Aug-18
ARC172	RC	507639.72	7698638.41	29.10	84	-60	360	Aug-18
ARC173	RC	507642.44	7698617.75	29.00	114	-60	360	Aug-18
ARC174	RC	507643.99	7698599.74	28.90	130	-60	360	Aug-18
ARC175	RC	507602.60	7698567.75	29.47	138	-60	360	Aug-18
ARC176	RC	507179.52	7698602.41	31.70	150	-60	180	Aug-18
ARC177	RC	507176.30	7698621.93	32.26	144	-60	180	Aug-18
ARC178	RC	507175.39	7698643.09	32.40	186	-60	180	Aug-18
ARC179	RC	507174.97	7698661.71	33.13	200	-60	180	Aug-18
ARC180	RC	507645.43	7698579.89	29.17	114	-60	360	Aug-18
ARC181	RC	507678.56	7698651.72	28.72	72	-60	360	Aug-18
ARC182	RC	507679.90	7698630.58	28.96	90	-60	360	Aug-18
ARC183	RC	507679.21	7698611.67	29.02	114	-60	360	Aug-18
ARC184	RC	507517.08	7698421.77	30.67	330	-60	360	Aug-18
ARC185	RC	507640.80	7698723.54	29.45	102	-60	360	Aug-18
ARC186	RC	507640.13	7698703.37	29.33	114	-60	360	Aug-18
ARC187	RC	507639.70	7698683.63	29.31	126	-60	360	Aug-18
ARC188	RC	507638.81	7698664.55	29.01	102	-60	360	Aug-18
ARC189	RC	507480.18	7698418.86	30.14	330	-60	360	Aug-18
ARC190	RC	505597.89	7698459.26	30.19	102	-60	180	Mar-20
ARC191	RC	505597.56	7698498.15	30.41	102	-60	180	Mar-20
ARC192	RC	505597.72	7698538.71	30.46	108	-60	180	Mar-20
ARC193	RC	505598.35	7698578.08	31.45	96	-60	180	Mar-20

==> picture [49 x 19] intentionally omitted <==

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

Page 12 of 16

Hole Id	Type	Z50MGA East	Z50MGA North	RL (m)	Depth (m)	Dip	Azimuth	Date
ARC194	RC	505599.13	7698618.80	32.58	96	-60	180	Mar-20
ARC195	RC	505998.22	7698699.11	33.06	102	-60	180	Mar-20
ARC196	RC	505998.31	7698740.52	33.95	96	-60	180	Mar-20
ARC197	RC	505999.01	7698779.66	35.26	102	-60	180	Mar-20
ARC198	RC	505998.58	7698818.62	36.63	114	-60	180	Mar-20
ARC199	RC	506096.57	7698451.15	32.09	102	-60	180	Mar-20
ARC200	RC	506098.36	7698488.64	32.13	108	-60	180	Mar-20
ARC201	RC	506278.74	7698700.08	34.17	102	-60	180	Mar-20
ARC202	RC	506278.76	7698739.96	34.45	102	-60	180	Mar-20
ARC203	RC	506278.79	7698783.46	34.85	102	-60	180	Mar-20
ARC204	RC	506277.79	7698820.49	35.19	120	-60	180	Mar-20
ARC205	RC	506339.04	7698500.84	33.08	48	-60	180	Mar-20
ARC206	RC	506338.15	7698540.51	33.43	60	-60	180	Mar-20
ARC207	RC	506338.18	7698579.33	33.90	90	-60	180	Mar-20
ARC208	RC	506378.52	7698619.50	34.17	80	-60	180	Mar-20
ARC209	RC	506365.12	7698639.77	34.26	96	-60	180	Mar-20
ARC210	RC	506577.70	7698560.35	34.28	48	-60	180	Mar-20
ARC211	RC	506577.92	7698599.71	34.46	48	-60	180	Mar-20
ARC214	RC	506978.94	7698559.98	33.05	156	-60	180	Mar-20
ARC215	RC	506978.39	7698599.97	32.81	114	-60	180	Mar-20
ARC216	RC	507257.45	7698459.80	31.66	246	-60	0	Mar-20
ARC217	RC	507297.79	7698670.69	31.58	282	-60	180	Mar-20
ARC218	RC	507338.14	7698478.57	31.17	276	-70	0	Mar-20
ARC219	RC	507479.71	7698460.18	30.24	270	-60	0	Mar-20
ARC220	RC	507598.54	7698527.51	29.49	60	-60	0	Mar-20
ARC221	RC	507598.73	7698549.84	29.45	150	-60	0	Mar-20
ARC222	RC	506573.34	7698642.27	34.54	138	-60	180	Mar-20
ARC223	RC	507156.74	7698981.23	38.04	102	-60	270	Nov-20
ARC224	RC	507197.60	7698981.29	37.08	100	-60	270	Nov-20
ARC225	RC	507235.47	7698980.93	37.04	102	-60	270	Nov-20
ARC226	RC	507276.55	7698981.44	37.30	102	-60	270	Nov-20
ARC227	RC	507316.39	7698980.90	36.51	102	-60	270	Nov-20
ARC228	RC	507356.68	7698982.38	36.07	102	-60	270	Nov-20
ARC229	RC	507395.57	7698980.96	35.30	102	-60	270	Nov-20
ARC230	RC	507238.64	7698899.72	36.72	80	-60	270	Nov-20
ARC231	RC	507281.81	7698900.10	35.08	102	-60	270	Nov-20
ARC232	RC	507317.41	7698900.47	34.72	102	-60	270	Nov-20
ARC233	RC	507356.66	7698900.32	34.71	102	-60	270	Nov-20
ARC234	RC	507400.78	7698899.93	33.87	108	-60	270	Nov-20
ARC235	RC	507778.11	7699021.45	31.66	120	-60	0	Nov-20
ARC236	RC	507777.74	7698981.95	30.40	120	-60	0	Nov-20
ARC237	RC	507777.56	7698943.33	30.51	120	-60	0	Nov-20
ARC238	RC	507777.64	7698900.10	30.03	120	-60	0	Nov-20
ARC239	RC	507777.35	7698862.17	29.54	120	-60	0	Nov-20
ARC240	RC	507777.06	7698823.61	29.06	120	-60	0	Nov-20
ARC241	RC	507776.99	7698781.52	28.57	120	-60	0	Nov-20
ARC242	RC	507777.13	7698740.44	28.39	120	-60	0	Nov-20
ARC243	RC	507777.14	7698698.65	28.43	120	-60	0	Nov-20
ARC244	RC	507777.18	7698659.53	29.54	120	-60	0	Nov-20
ARC245	RC	507778.07	7698620.67	29.76	100	-60	0	Nov-20
ARC246	RC	507625.78	7698638.78	29.06	80	-60	0	Nov-20
ARC247	RC	507625.21	7698599.48	29.08	120	-60	0	Nov-20
ARC248	RC	507625.13	7698559.76	29.29	160	-60	0	Nov-20
ARC249	RC	507625.29	7698520.43	30.01	210	-60	0	Nov-20
ARC250	RC	507651.24	7698539.99	29.80	150	-60	0	Nov-20
ARC251	RC	507382.98	7698569.96	30.40	100	-60	0	Nov-20
ARC252	RC	507382.38	7698531.21	30.71	160	-60	0	Nov-20
ARC253	RC	507381.76	7698489.48	30.95	210	-60	0	Nov-20
ARC254	RC	507436.73	7698678.37	31.11	260	-60	180	Nov-20
20CCAD001	DDH	507501.70	7698571.22	29.56	100	-60	0	Oct-20
20CCAD002	DDH	507500.54	7698531.47	30.00	160	-60	0	Oct-20
20CCAD003	DDH	507560.17	7698898.69	32.34	840.1	-60	180	Oct-20
20CCAD004	DDH	507499.35	7698490.78	30.04	210	-60	0	Nov-20
20CCAD005	DDH	507498.30	7698452.16	30.23	270	-60	0	Nov-20
20CCAD006	DDH	507538.43	7698588.26	29.49	100	-60	0	Nov-20
20CCAD007	DDH	507557.34	7698845.69	31.20	551.3	-55	180	Nov-20
20CCAD008	RC/DDH	507441.86	7698884.65	32.90	450	-60	180	Nov-20
20CCAD008W	Wedge				422	-60	180	Dec-20
20CCAD009	DDH	507538.53	7698549.06	29.84	207.4	-60	0	Nov-20
20CCAD010	DDH	507538.95	7698508.58	29.84	250	-60	0	Nov-20

==> picture [49 x 19] intentionally omitted <==

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

Page 13 of 16

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

==> picture [49 x 19] intentionally omitted <==

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

Page 14 of 16

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.

==> picture [49 x 19] intentionally omitted <==

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

Page 15 of 16

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.

==> picture [49 x 19] intentionally omitted <==

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

Page 16 of 16