10 August 2022

Artemis Resources Limited

("Artemis" or the "Company")

ASX Price Query Response

Artemis Resources Limited (ASX:ARV AIM:ARV, Frankfurt: ATY, US OTCQB: ARTTF) advises that the Company received a Price Query from the Australian Securities Exchange (ASX) on 10 August 2022 following the recent rise in the Company's share price on the ASX.

Following the Price Query from the ASX, Artemis Resources Limited released the following response which is copied in full below.

Artemis Resources Limited (ASX Code: ARV) Price and Volume Query

In response to your letter dated 10 August 2022, we respond as follows:

1.    Is ARV aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain the recent trading in its securities?

No.      

2.    If the answer to question 1 is "yes".

(a) Is ARV relying on Listing Rule 3.1A not to announce that information under Listing Rule 3.1? Please note that the recent trading in ARV's securities would suggest to ASX that such information may have ceased to be confidential and therefore ARV may no longer be able to rely on Listing Rule 3.1A. Accordingly, if the answer to this question is "yes", you need to contact us immediately to discuss the situation.

N/A

(b) Can an announcement be made immediately? Please note, if the answer to this question is "no", you need to contact us immediately to discuss requesting a trading halt (see below).

N/A

(c) If an announcement cannot be made immediately, why not and when is it expected that an announcement will be made? 3. If the answer to question 1 is "no", is there any other explanation

    N/A

3.    If the answer to question 1 is "no", is there any other explanation that ARV may have for the recent trading in its securities?

Greater Carlow Castle

The Company has now received assays for ten of the last twelve drill holes from the last drilling campaign at the Greater Carlow project. While the review of these results is incomplete, information on the results received to date has now been released following a Price Query from the ASX, given the recent rise in the Company's share price. A full announcement of the results will be made when all assays are to hand.

As previously announced in the Company's quarterly activities report on 29 July 2022, following the receipt of the final batch of assays it is expected that Artemis will release an updated resource statement for the Greater Carlow Project. The Company has not yet had this information from external consultants and will update the market when it is in a position to do so.

Please see below in an Appendix, answers to additional questions raised by the ASX in relation to this drilling programme.

Paterson Central

The Company announced on 7 July 2022 the start of a 7,500m to 10,000m drill programme across the Apollo and Atlas targets and the completely untested targets at Juno, Voyager, Enterprise East, Enterprise West and Vidiian. This 2022 programme is expected to continue through the remainder of the year and the Company will update the market as appropriate on progress, assays and key findings.

4.    Please confirm that ARV is in compliance with the Listing Rules and, in particular, Listing Rule 3.1.

We confirm that ARV is in compliance with the Listing Rules and particular Listing Rule 3.1.

5.    Please confirm that ARV's responses to the questions above have been authorised and approved in accordance with its published continuous disclosure policy or otherwise by its board or an officer of BXN with delegated authority from the board to respond to ASX on disclosure matters.

The responses to the questions above have been approved by the Board.

Guy Robertson

Company Secretary

Appendix

ASX Additional Questions

Given the pending assay results, could ARV please include responses to the following additional queries in the price query response:

·    Please advise when the drilling was completed and what date the drill cores were sent to the laboratory. 

Drilling was completed in March and June 2022, for the last phase of drillholes and samples were sent in that same period.

·    Please advise when the assay results are expected to be received by ARV. Please provide detailed information in relation to the timing of these results. 

Assays have only returned in late July, early August 2022. Assays for these holes received have been delayed significantly by bottlenecks in the processing ability of laboratories. This is not unique to ARV, as it has affected the entire resources industry. The remaining results are expected in the next week.

·    Please advise what arrangements (if any) ARV has in place to maintain confidentiality of its assay results? Please provide detailed information.

Samples are handled from site only by authorised ARV personnel. These samples are bagged and tagged in bundles of 10 per sack and are sent to the freight depot directly by authorised ARV personnel, as per the comments in the JORC table.

The samples are delivered directly to the laboratory, in this case ALS-Chemex. These samples then become the responsibility of ALS and ARV has no control over the sample processing or analysis. Samples progress are monitored through Webtrieve by the Exploration Manager and our nominated database managers, Expedio.

Once the samples are assayed, only key personal in the company are emailed the results, which are the General Manager and Exploration Manager. The results are downloaded directly by Expedio, who then merge the data with our drilling data, validate and a zipped copy of the database in its entirety is copied to our cloud drive, into a restricted folder that can only be accessed by key personnel, namely the General Manager, Exploration Manager and Project Geologists using the data for interpretation and report writing.

At no time during this process of sampling, from the rig, to delivery of the samples, to receiving assays results, can an unauthorised person or persons interfere, change, alter, sabotage or remove any sample or result that is received by ARV or its authorised third party representatives.

This announcement was approved for release by the Board

For further information on the Company, please visit https://artemisresources.com.au/ or contact: 

About Artemis Resources

Artemis Resources (ASX: ARV; AIM: ARV, FRA: ATY; US: ARTTF) is an Australian-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.

MAR

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.