Artemis Resources Limited — Capital/Financing Update 2025

Dec 23, 2025

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ASX Announcement

24 December 2025

Artemis Expands Footprint in High Leverage Copper Frontier -Updated

Artemis Resources (ASX: ARV) (Artemis or the Company ) refers to the announcement lodged with ASX on 22 December 2025 titled Artemis Expands Footprint in High Leverage Copper Frontier and provide additional commentary and references, as applicable, for figures 2, 3 and 4, along with a JORC Table 1 Section 1 and 2.

These additions and clarifications are reflected in the attached announcement.

This announcement was approved for release by Julian Hanna.

For further information:

Jozsef Patarica

Executive Director Artemis Resources Limited +61 8 6261 5463 info@artemisresources.com.au

Mr Julian Hanna Technical Director Artemis Resources Limited +61 8 6261 5463 info@artemisresources.com.au

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ASX Announcement | 24 December 2025

Artemis Expands Footprint in High Leverage Copper Frontier (Updated)

Earn-In/Joint Venture Agreement with Red Metal at Sharon Dam IOCG Target 50km south of the Cassowary Intrusion within Madura Copper Exploration Belt

HIGHLIGHTS

• High-leverage copper JV: Artemis can earn 60% of Red Metal’s Sharon Dam IOCG target by spending not less than $5,000,000 within 3 years, inclusive of an initial commitment $400k for drilling, supported by~$220k government EIS co-funding grant

• Optionality: After meeting the $400k commitment for drilling within 12 months, Artemis has the option to continue and earn the JV interest or withdraw from the agreement at any time.

• Belt-scale potential: Sharon Dam is a large previously undrilled IOCG target defined by a strong coincident magnetic–gravity anomaly within a frontier copper exploration district

• Strategic consolidation : JV strengthens Artemis’ 1,180km² copper–gold position along the Madura Crustal Boundary, an emerging province with multiple interpreted intrusions.

• Favourable discovery conditions: Shallow cover (estimated 250m) provides a cost-effective exploration environment compared to deeper IOCG systems elsewhere in Australia.

• Rapid pathway to drilling: Granted tenement; established access to drill site; existing heritage agreement with drilling targeted for March–April 2026, subject to heritage clearance.

Artemis Resources Limited (ASX/AIM: ARV) ( Artemis or the Company ) is pleased to advise that it has entered into an earn-in and joint venture agreement with Red Metal Limited (ASX: RDM) ( Red Metal ) over the highly prospective Sharon Dam T1 intrusion, located approximately 50km south of the Company’s compelling Cassowary Intrusion in Western Australia’s Madura Province.

The JV expands Artemis’ holdings and provides a second outstanding target (after Cassowary) for early drilling within what is interpreted to be a unique, multi-intrusion belt within a wide rift zone along the Madura Crustal Boundary ( MCB ) – a major structural corridor and one of the last underexplored frontiers for IOCG copper and other intrusion related deposits in Australia.

Artemis Executive Director, Jozsef Patarica, commented:

“The JV with Red Metal provides a strategic and low-cost entry into another compelling IOCG target in Western Australia. By partnering with Red Metal we are expanding our footprint 50 kilometres south of the Cassowary Intrusion and putting funds directly into drilling one of the most exciting targets in the region. The Sharon Dam target sits within an area which may host multiple intrusions adjacent to the Madura Crustal Boundary - which we believe is on the cusp of major exploration interest. Consolidation of this belt enhances Artemis’ position as a leading copper explorer in a region with IOCG potential.”

Artemis Technical Director, Julian Hanna, added:

“Sharon Dam is a rare opportunity for Artemis. Not only does it tick all the boxes on technical grounds, the first drill hole into the centre of this compelling target will be co-funded by a substantial EIS grant reducing the funding requirement from Artemis. Our exploration team is looking forward to working closely with Red Metal on the Sharon Dam project, and with the Pila Nguru Native Title Holders and local station owners on the wider Cassowary Project which extends 70km along this overlooked belt.”

Artemis Resources Limited ABN: 80 107 051 749

| Email: info@artemisresources.com.au Level 2, 10 Ord Street WEST PERTH WA 6005 |

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Frontier IOCG Search Space: Madura Crustal Boundary - Exceptional Geological Opportunity

Recent interpretations of geophysical data by Artemis have identified a >30km-wide rift zone which appears to host multiple interpreted intrusions - dominated in the north by the Cassowary Intrusion and in the south by the Sharon Dam Intrusion, buried beneath flat lying Nullarbor sediments. The rift zone is bounded on the west by the Madura Crustal Boundary, a long-lived crustal structure parallel to:

1. Yilgarn Craton margin – hosting Tropicana Gold District (multi-Moz gold)

2. Albany-Fraser mobile belt – hosting IGO’s Nova–Bollinger and Legend’s nickel-copper deposits

The large, Sharon Dam and Cassowary intrusions sit within the Madura structural corridor and are interpreted to have preserved their original geometries – markedly different from highly deformed intrusions within the nearby Albany–Fraser mobile belt.

Regional Activity

• BHP Nickel West previously held the southern part of the belt exploring for nickel until 2022.

• Artemis initially applied for the tenement covering the Cassowary Intrusion (341km[2] ) which was granted in August 2025. Artemis has also applied for 4 additional tenements covering (788km[2]

• WA1 Resources has applied for 2 tenements (~1,000 km²) covering the area between Artemis’s northern and southern blocks and is publicly targeting IOCG and other intrusion related deposits.

• Teck has applied for 1 tenement 110km south along the crustal boundary from Cassowary.

Most of Artemis’s tenement applications are expected to be granted in Q1 2026, coinciding with heightened exploration activity and news flow.

Strategic Rationale: Why This Matters for Artemis Shareholders

• High-impact, low-cost discovery opportunity: Artemis secures the right to earn 60% of a large IOCG target for an effective outlay of only $400k, which with EIS co-funding will be used to fund the initial drilling. Artemis can earn 60% by spending $5,000,000, less the initial $400k outlay.

• Belt-scale consolidation: The JV extends Artemis’ footprint to control two clusters of interpreted intrusions within 50-70km of strike adjacent to a major prospective structural boundary, strengthening the Company’s regional competitive position.

• District emerging as a strategic hotspot: Recent moves by Teck, WA1, and historical interest from BHP support the view that the Madura Crustal Boundary may represent an underexplored mineral province.

• Drilling in early 2026: A clear pathway to drilling provides a near-term catalyst with meaningful upside if the initial drilling confirms Sharon Dam could represent a mineralised intrusion.

• Intact, undrilled intrusive systems: Targets of this size with strong magnetic/gravity coincidence as well as preservation are rare in Australia and offer genuine IOCG discovery potential.

Artemis Resources Limited ABN: 80 107 051 749 | Email: info@artemisresources.com.au Level 2, 10 Ord Street WEST PERTH WA 6005 | www.artemisresources.com.au

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Figure 1 – Location plan highlighting mineral deposits and occurrences associated with Proterozoic age crustal boundaries, parallel with the Yilgarn craton margin. Madura Crustal Boundary shown in red

Sharon Dam Target

Priority Target T1 – Compelling IOCG Candidate

Interpreted Sharon Dam Intrusion is a drill-ready target characterised by:

• Strong coincident magnetic and gravity anomalies - refer to Figures 3 and 4.

• Coincident anomalies possibly consistent with IOCG

• Modelling of gravity data implies density of ~3.5 (SG) – possible iron-rich source

• Bounded by NW trending cross-cutting faults – similar to Cassowary Intrusion.

• Source of the coincident anomalies is modelled at 500–600m depth.

Interpreted geological setting of Sharon Dam:

• Main intrusion appears intact with small satellite intrusion on western side – refer to Figure 3

• Surrounding cluster of other intrusions on Artemis tenement application – refer to Figure 2.

• Central within >20km wide circular gravity low suggests underlying deep seated granitic body.

Artemis Resources Limited ABN: 80 107 051 749 | Email: info@artemisresources.com.au Level 2, 10 Ord Street WEST PERTH WA 6005 | www.artemisresources.com.au

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Figure 2 – Magnetic image of interpreted rift zone showing interpreted Cassowary Intrusion and Sharon Dam Intrusion (50km south) showing initial planned drill holes (Refer Artemis ASX announcement dated 18 August 2025)

Artemis Resources Limited ABN: 80 107 051 749 | Email: info@artemisresources.com.au Level 2, 10 Ord Street WEST PERTH WA 6005 |

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Figure 3 – Sharon Dam RTP Magnetic Image overlain by 1VD gravity contours showing planned location of first diamond drill hole (Refer Artemis ASX announcement dated 18 August 2025)

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Figure 4 – Sharon Dam coincident 3D modelled gravity (top) and magnetic (below) anomalies showing planned location of first diamond drill hole. The above 3D images were generated using University of British Columbia inversion modeling software with the same data as that used in Figure 2 and 3 above.

Artemis Resources Limited ABN: 80 107 051 749 | Email: info@artemisresources.com.au Level 2, 10 Ord Street WEST PERTH WA 6005 |

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Exploration Incentive Scheme (EIS) Co-Funding

Red Metal has previously been awarded an Exploration Incentive Scheme (EIS) co-funded drilling grant of up to $220,000 for the Sharon Dam Project by the Western Australian Government. Under the earn-in and joint venture agreement, any EIS funds received by Red Metal for the approved Sharon Dam drill program will be transferred to Artemis but cannot be used to satisfy Artemis’ $400,000 minimum expenditure requirement. As a result, Artemis is required to fund the full minimum drilling commitment, with the EIS refund expected to reduce the Company’s net cash outlay for the drilling.

Binding Earn In and Joint Venture Agreement – Key Terms

• Initial commitment: Artemis has a minimum expenditure requirement of $400,000 to fund the initial drill hole at Sharon Dam within a 12-month expenditure period

• The expenditure period may be extended in event of unexpected delays due to Force Majeure or delays to heritage surveys or other cultural related restraints

• If drilling fails to reach target depth, or no favourable geology or indications of mineralisation intersected before 500m depth, the minimum expenditure requirement will reduce to $250,000

• Red Metal will transfer to Artemis funds received by Red Metal from the EIS co-funding grant (est. ~$220,000) - not to be used to satisfy the minimum expenditure requirement

• If Artemis fails to satisfy the minimum expenditure requirement it will be required to pay to Red Metal the short fall between the minimum expenditure requirement, and actual expenditure

• After satisfying the minimum expenditure requirement, Artemis may withdraw from the agreement at any time with no retained interest other than accrued rights and liabilities prior to the withdrawal

• Earn-in: Artemis can earn 60% interest in the Red Metal tenement by spending not less than $5,000,000 (inclusive of the $400,000 minimum expenditure commitment) within 3 years

• Within 30 days of earning the 60% interest, an unincorporated joint venture will be formed between Artemis and Red Metal, and Red Metal may elect to reduce its interest to 20% in which event Artemis will increase its interest to 80% and free carry Red Metal’s interest to a decision to mine. The joint venture interest will be in proportion to the interest in the Red Metal tenement

• Joint Venture: standard terms include - JV committee, programs/budgets, pre-emptive rights

• Assignment: parties may assign, transfer, sell or dispose of JV interest to a related body corporate

Next Steps

1. Lodge a work program for first drill hole at Sharon Dam with Pila Nguru Native Title owners

2. Organise a time with Pila Nguru to conduct a heritage survey of the drill site

3. Confirm existing access track to drill site, arrange water supply with station owner

4. Once heritage clearance is received, commence drilling using two drill rigs

5. RC drilling to be used through cover sequence, diamond drilling through basement sequence

6. Drilling is targeted to commence in March–April 2026

AIM Rule Disclosures

For the financial year ended 30 June 2025, there were $51,212 of losses attributable to these assets.

Artemis Resources Limited ABN: 80 107 051 749 | Email: info@artemisresources.com.au Level 2, 10 Ord Street WEST PERTH WA 6005 | www.artemisresources.com.au

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APPENDIX

Examples of gravity and magnetic signatures for six IOCG deposits and occurrences within the Olympic Dam Copper-Gold Province. Source: Geological Survey South Australia – July 2020

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Cautionary Statement

Artemis wishes to emphasize that the publicly available gravity and magnetic expressions of six Iron Oxide Copper-Gold (IOCG) deposits and occurrences illustrated above are intended to provide examples of geophysical responses across a range of Australian IOCG - type deposits and occurrences, which have been confirmed by drilling. There is no historic drilling at the interpreted Sharon Dam intrusion and no outcrop to indicate the presence of IOCG or any other type of mineralisation. Sharon Dam is a conceptual target only and drilling is planned to test the source of the coincident gravity and magnetic anomalies, which is currently unknown.

Artemis Resources Limited ABN: 80 107 051 749 | Email: info@artemisresources.com.au Level 2, 10 Ord Street WEST PERTH WA 6005 |

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This ASX announcement has been authorised for release by the Board of Artemis Resources Limited.

For further information, please contact:

Jozsef Patarica

Executive Director Artemis Resources Limited +61 8 6261 5463 info@artemisresources.com.au

About Artemis Resources

Artemis Resources (ASX/AIM: ARV) is a Western Australian exploration company focused on advancing a highly prospective portfolio of gold, copper and critical minerals projects. The Company holds a significant land position in the underexplored North Pilbara Gold–Copper Province, including the Carlow, Titan and Thorpe prospects, as well as the large-scale Cassowary Exploration Project located approximately 440km east of Kalgoorlie. Artemis also holds a strategic, fully permitted processing asset at Radio Hill, situated near Karratha.

Artemis’ portfolio includes exposure to gold–copper systems, IOCG-style intrusions, and lithium via joint venture interests at Mt Marie, Kobe and Osborne. The Company continues to advance high-impact exploration programmes across these assets with the objective of defining new discoveries and unlocking value for shareholders.

About Red Metals

Red Metal Limited (ASX: RDM) is an Australian mineral explorer with a portfolio spanning rare earths, copper and gold. Red Metal is currently focused on advancing its flagship Sybella Rare Earth Project in north-west Queensland.

Competent Person Statement

The information in this report that relates to Exploration Results was compiled by Mr Julian Hanna, a Competent Person who is a member of the Australasian Institute of Mining and Metallurgy (MAusIMM). Mr Hanna is Technical Director of Artemis Resources Ltd and 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 ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Hanna consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

No New Information

To the extent that this announcement contains references to prior exploration results which have been cross referenced to previous market announcements made by the Company, unless explicitly stated, no new information is contained. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed.

Artemis Resources Limited ABN: 80 107 051 749 | Email: info@artemisresources.com.au Level 2, 10 Ord Street WEST PERTH WA 6005 | www.artemisresources.com.au

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Forward Looking Statements

This announcement contains historical facts, interpretations and statements relating to the Company’s current exploration projects, drill targets, conceptual targets, plans, estimates, objectives, and strategies which are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company's control that could cause the actual results, performance, or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Accordingly, any reliance you place on such forward-looking statements will be at your sole risk and the Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any changes in its expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based. The information contained in this announcement is subject to change without notice. No representation or warranty, express or implied, is given as to the accuracy, completeness or fairness of the information or opinions contained in this announcement and no liability is accepted by the Company or any of its directors, members, officers, employees, agents, or advisers for any such information or opinions.

Artemis Resources Limited ABN: 80 107 051 749 | Email: info@artemisresources.com.au Level 2, 10 Ord Street WEST PERTH WA 6005 | www.artemisresources.com.au

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Appendix 1 JORC Table

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

• Criteria JORC Code explanation

• Sampling • Nature and quality of sampling (eg cut channels, random chips, or techniques specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.

Commentary

• Not applicable – no drilling or sampling was undertaken in relation to the studies or interpretations referred to in this announcement

• Magnetic images included in this announcement were generated from regional airborne magnetic survey data which was extracted and compiled from DEMIRS/GSWA publicly available data

• • Gravity contours and images included in this announcement are based on ground gravity surveys conducted in 2016 and infilled by Red Metal Ltd in 2019 with data compilations prepared by Red Metal Ltd

• • Gravity models included in this announcement are based on ground gravity surveys and data compilations prepared by Red Metal Ltd

• • Gravity data used in contours and images and in an inversion model included in this announcement are based on surface gravity readings which were collected and compiled over a triangular offset pattern with stations at 500m spacing along EW traverses, which were spaced 250m NS apart

• Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

• Aspects of the determination of mineralisation that are Material to the Public Report.

• In cases where ‘industry standard’ work has been done this would gravity surveys and data compilations prepared by Red Metal Ltd be relatively simple (eg ‘reverse circulation drilling was used to • Gravity data used in contours and images and in an inversion model obtain 1 m samples from which 3 kg was pulverised to produce a 30 included in this announcement are based on surface gravity readings g charge for fire assay’). In other cases, more explanation may be which were collected and compiled over a triangular offset pattern required, such as where there is coarse gold that has inherent with stations at 500m spacing along EW traverses, which were sampling problems. Unusual commodities or mineralisation types spaced 250m NS apart (eg submarine nodules) may warrant disclosure of detailed • The geophysical contractor used to collect the gravity data was information. Daishshat Geodetic Surveyors

•

Drilling	• Drill type (eg core, reverse circulation, open-hole hammer, rotary	• Not applicable – no drilling or sampling
techniques	air blast, auger, Bangka, sonic, etc) and details (eg core diameter,
	triple or standard tube, depth of diamond tails, face- sampling bit or
	other type, whether core is oriented and if so, by what method,
	etc).
Drill sample	• Method of recording and assessing core and chip sample	• Not applicable – no drilling or sampling .
recovery	recoveries and results assessed.
	• Measures taken to maximise sample recovery and ensure
	representative nature of the samples.
	• Whether a relationship exists between sample recovery and
	grade and whether sample bias may have occurred due to
	preferential loss/gain of fine/coarse material.

Logging	•	Whether core and chip samples have been geologically and	• Not applicable – no drilling or sampling
		geotechnically logged to a level of detail to support appropriate
		Mineral Resource estimation, mining studies and metallurgical
		studies.
	•	Whether logging is qualitative or quantitative in nature. Core (or
		costean, channel, etc) photography.
	•	The total length and percentage of the relevant intersections
		logged.

Sub-sampling	• If core, whether cut or sawn and whether quarter, half or all core	• Not applicable – no drilling or sampling
techniques and	taken.
sample	• If non-core, whether riffled, tube sampled, rotary split, etc and
preparation	whether sampled wet or dry.
	• For all sample types, the nature, quality and appropriateness of the
	sample preparation technique.
	• Quality control procedures adopted for all sub-sampling stages to
	maximise representivity of samples.
	• Measures taken to ensure that the sampling is representative of the
	insitu material collected, including for instance results for field
	duplicate/second-half sampling.
	• Whether sample sizes are appropriate to the grain size of the
	material being sampled.
Quality of assay	• The nature, quality and appropriateness of the assaying and	• Not applicable – no drilling or sampling
data and	laboratory procedures used and whether the technique is
laboratory tests	considered partial or total.	• The 3D inversion Vauxhall models included in Figure 4 in the
	• For geophysical tools, spectrometers, handheld XRF instruments,	announcement are based on the magnetic and gravity data
	etc, the parameters used in determining the analysis including	described elsewhere in this JORC Table. The models are
	instrument make and model, reading times, calibrations factors applied and their derivation, etc.	derived from University of British Columbia geophysical inversion software and were visualised in MapInfo 3D Viewer.
	• Nature of quality control procedures adopted (eg standards, blanks,
	duplicates, external laboratory checks) and whether acceptable
	levels of accuracy (ie lack of bias) and precision have been
	established.

Verification of	• The verification of significant intersections by either	• Not applicable – no drilling, sampling or assaying
sampling and	independent or alternative company personnel.
assaying	• The use of twinned holes.
	• Documentation of primary data, data entry procedures, data
	verification, data storage (physical and electronic) protocols.
	• Discuss any adjustment to assay data.
Location of data	• Accuracy and quality of surveys used to locate drill holes (collar and	• Not applicable – no drilling or sampling.
points	down-hole surveys), trenches, mine workings and other locations
	used in Mineral Resource estimation.
	• Specification of the grid system used.
	• Quality and adequacy of topographic control.
Data spacing and	• Data spacing for reporting of Exploration Results.	• Not applicable – no drilling or sampling
distribution	• Whether the data spacing and distribution is sufficient to	• The airborne magnetic data recorded along 400m spaced EW
	establish the degree of geological and grade continuity	flight lines used to generate the magnetic images included in his
	appropriate for the Mineral Resource and Ore Reserve	announcement is considered sufficient for defining individual
	estimation procedure(s) and classifications applied.	interpreted intrusions, as well as relatively minor too crustal
	• Whether sample compositing has been applied.	scale structural and geological trends and features
		• The gravity data recorded in a triangular offset 500m by 250m
		pattern is considered sufficient for defining gravity anomalies
		and surrounding structures.
Orientation ofdata	• Whether the orientation of sampling achieves unbiased sampling	• Not applicable – no drilling or sampling
in relation to	of possible structures and the extent to which this is known,	• The orientation of the airborne magnetic and gravity data is
geological	considering the deposit type.	considered sufficient for this initial phase of exploration
structure	• If the relationship between the drilling orientation and the	• The concept of bias is not applicable.
	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 sample security.	• Not applicable – no drilling, assaying or sampling
Audits or reviews	• Results of any audits or reviews of sampling techniques and data.	• The Sharon Dam coincident magnetic and gravity anomalies shown Figure 3 in
		this announcement was included in the EIS Application document lodged by
		Red Metal which was reviewed by GSWA. The EIS application was
		subsequently granted to co-fundingthe initial drill hole at Sharon Dam

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Section 2 Reporting of Exploration Results - revised

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

Criteria	JORC Code explanation	Commentary
Mineral	• Type, reference name/number, location and ownership including	• The Sharon Dam target shown Figure, 2, 3 and 4 in this announcement are
tenement and	agreements or material issues with third parties such as joint	located completely within E69/3441 which is held by Red Metal Ltd
land tenure	ventures, partnerships, overriding royalties, native title interests,	• E69/3441 has an expiry date of 10 October 2026 and it is expected
status	historical sites, wilderness or national park and environmental	that Red Metal will apply for a two year extension before that date
	settings.	• E69/3441 is in good standing with DEMIRS and there are no known
	• 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.	impediments for drilling subject to heritage clearance • Red Metal has an existing Heritage Protection Agreement with the
		Pila Nguru Aboriginal Corporation signed in 2019.
		• A heritage survey and clearance of the planned drill site at Sharon
		Dam is targeted around March 2026
		• E69/3441 is located on an active cattle station , Gunnadorrah, with
		well established station tracks to E69/3441 and the planned drill site
Exploration	• Acknowledgment and appraisal of exploration by other parties.	• There is no known historic drilling on E69/3441 and no significant surface
done by other		exploration prior to Red Metal starting on 2016
parties
Geology	• Deposit type, geological setting and style of mineralisation.	• The exploration target to be tested by the planned drilling on E69/3441 is
		the potential for Iron Oxide Copper Gold (IOCG type) and potentially for
		other Proterozoic age intrusion hosted mineralization types which may be
		associated with coincident magnetic and gravity anomalies
		• The interpreted geological setting of the Sharon Dam target is
		within a >30km wide interpreted NS rift zone bounded on the

Artemis Resources Limited ABN: 80 107 051 749 | Email: info@artemisresources.com.au Level 2, 10 Ord Street WEST PERTH WA 6005 | www.artemisresources.com.au

			western side by a major NE trending crustal/cratonic boundary
			with several names including ‘Madura Crustal Boundary’
Drill hole	•	A summary of all information material to the understanding of the	• Not applicable – no drilling, assaying or sampling
Information		exploration results including a tabulation of the following
		information for all Material drill holes:
		o easting and northing of the drill hole collar
		o elevation or RL (Reduced Level – elevation above sea level in
		metres) of the drill hole collar
		o dip and azimuth of the hole
		o down hole length and interception depth
		o hole length.
	•	If the exclusion of this information is justified on the basis that the
		information is not Material and this exclusion does notdetract from
		the understanding of the report, the Competent Person should clearly
		explain why this is the case
Data	•	In reporting Exploration Results, weighting averaging techniques,	• Not applicable – no drilling, assaying or sampling
Aggregation		maximum and/or minimum grade truncations (eg cutting of high
Methods		grades) and cut-off 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 particularly important in the		• Not applicable – no drilling, assaying or sampling
Between			reporting of Exploration Results.
Mineralisation		•	If the geometry of the mineralisation with respect to the
Widths and			drill angle is known, its nature should be reported
intercept		•	If it is not known and only the down hole lengths are reported there
lengths			should be a clear statement to this effect (eg ‘down hole length, true
			width not known)
Diagrams		•	Appropriate maps and sections (with scales) and tabulations of any		• All the appropriate maps and plan views are provided in this
			intercepts should be included for any significant discovery being		announcement
			reported. These should include but not be limited to a plan view of
			drill collar locations and appropriate sectional views.
Balanced	•	Where comprehensive reporting of all Exploration Results is not		•	Not applicable – no drilling, assaying or sampling
reporting		practicable, representative reporting of both low and high grades		•	Artemis considers the announcement demonstrates balanced
		and/or widths should be practiced to avoid misleading reporting of			reporting
		Exploration Results.

Other	•	Other exploration data, if meaningful and material, should be
substantive		reported including (but not limited to): geological observations;
exploration data		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.

• Not applicable – no drilling, assaying or sampling

• • No material exploration or drilling has been carried out on the area of E69/3441 by other parties prior to Red Metal.

• • The Sharon Dam target within E69/3441 is interpreted to be buried below approximately 250m depth of Nullarbor consolidated sediments

Furtherwork	•	The nature and scale of planned further work (eg tests for lateral	• Not applicable
		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.