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Artemis Resources Limited

("Artemis" or the "Company")

(ASX/AIM: ARV, FRA: ATY, US: ARTTF)

Induced Polarisation (IP) Survey Commences Over Lulu

Creek Mineralised Intrusion and Greater Carlow EM Update

Highlights:

Lulu Creek

·      A high resolution dipole-dipole Induced Polarisation (IP) geophysics survey has commenced over the Lulu Creek intrusion related gold prospect.

·      Survey will consist of 13 lines for approximately 12-line kilometres over an area of 251 hectares.

·      Aim of the IP Survey is to define disseminated sulphide drill targets identified as being prospective for gold mineralisation within the Lulu Creek intrusion.

·      The IP Survey is expected to take approximately three weeks, with results expected in late July.

Greater Carlow

·      Moving Loop Electromagnetic (MLEM) survey successfully completed over Europa, Titan, Carlow North, Marillion North and around Carlow Castle.

·      Final MLEM survey data has been provided to SGC for processing.

·      Results of MLEM surveys expected to be finalised by mid-July.

Artemis Resources is pleased to announce that Southern Geoscience Consultants (SGC) have commenced a high-resolution dipole-dipole IP survey over the prospective Lulu Creek diorite intrusion (Figure 1). The aim of the survey is to provide vertical resolution in defining chargeability anomalies that may represent disseminated sulphides within and around the Lulu Creek diorite. Defined chargeability anomalies will then be used for exploration drill targeting of sulphide mineralisation which is believed to host gold mineralisation in conjunction with quartz veins.

Dipole-dipole array IP survey has been chosen due to its ability to provide good lateral and vertical chargeability resolution in the search for disseminated sulphides within the Lulu Creek prospect area.

Figure 1: Proposed dipole-dipole IP Survey area in relation to known Lulu Creek Intrusion

Lulu Creek lies some 20 km to the west of Artemis's Carlow Castle deposit and forms part of the prospective Greater Carlow area. It was initially identified in 2018 via a regional soils and rock chip program (Refer ASX announcement 05/11/2018) defining an area of interest over 4 km in an east-northeast orientation. Subsequent mapping and rock chip sampling identified gold associated with quartz veins and gossans, and in an unclassified weathered unit with a light covering of transported sands and gravels.

In 2020, Artemis completed 126 RC drill holes with an average hole depth of 20 m and a maximum hole depth of 50 m. The drill program was technically successful identifying numerous low-grade zones of gold mineralisation associated with disseminated sulphides and quartz veins within a 2 km east-northeast trending quartz diorite intrusion.

Greater Carlow MLEM Update

SGC have advised that the Greater Carlow MLEM surveys have finished, and the final data set received. The data is currently being processed, with results expected by mid-July. Preliminary information supplied by SGC indicates that four primary anomalies have been identified with two strong anomalies located in the vicinity of Carlow Castle. Additional information will be supplied following completion of data processing and interpretation.

This announcement was approved for release by the Board.

For Further information contact:

About Artemis Resources

Artemis Resources (ASX/AIM: 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 projects - the Greater Carlow project in the West Pilbara and the Paterson Central exploration project in the East Pilbara.

For more information, please visit www.artemisresources.com.au

Competent Person's Statement

The information in this report that relates to exploration results was prepared by Mr Luke Meter, a Competent Person who is a member of the Australasian Institute of Geoscientists (MAIG) and Australasian Institute of Mining and Metallurgy (MAusIMM). Mr Meter is employed by Artemis Resources as Exploration Manager. Mr Meter 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 Meter consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.