Artemis Resources Limited ('Artemis' or 'the Company') (ASX: ARV AIM: ARV, Frankfurt: ATY, US OTCQB: ARTTF) is pleased to provide an update on assays from its 100%-owned Paterson Central Gold and Copper Project in the Paterson Province and the Greater Carlow Project in the West Pilbara regions of Western Australia.

Alastair Clayton, Executive Director commented: 'Despite encouraging downhole geology and visually promising segments of diamond core, the first few of holes at Apollo and Atlas did not return significant gold or copper values. We had hoped for some decent indications of gold and copper to assist our targeting and to provide further evidence as to the preconditions for mineralisation locally. We believe that at least one precondition is absent. Our aim is to now drill to find this missing piece of the puzzle. We have always thought the major north-south regional fault with a later dyke infilled is key to mineralisation locally and note that the recent successful and unsuccessful drill results reported from Newcrest JV at Havieron drilling may support this theory.

Whilst we always strive for discovery with the very first hole of every programme, it's important to remember we have only just started our exploration and most of our priority targets have never been tested at all. The scale of the project must also be considered, with drill pads 400m to several kilometres apart. We have over 15km of prospective strike containing 6 large target areas to test in 2022. With the December rainy-season a long way off we have time and funding to systematically test our high priority targets and now also have an advanced XRF (X-ray fluorescence) gun deployed to the Paterson Central Project to provide some real time quantitative and qualitative mineralogical information to our team and assist infield reporting. We look forward to updating shareholders periodically over the remainder of 2022 as we drill numerous holes across our many high-priority targets. Shareholders should also expect the first RC drill assays from our Greater Carlow drilling at the Crosscuts and the Chapman discovery in the coming weeks.'

COMPETENT PERSONS STATEMENT

The information in this announcement that relates to Exploration Results and Exploration Targets is based on information compiled or reviewed by Mr. Steve Boda, who is a Member of the Australasian Institute Geoscientists. Mr. Boda is an employee of Artemis Resources Limited. Mr. Boda 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. Boda 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/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 gold projects - the Greater Carlow Gold Project in the West Pilbara and the Paterson Central exploration project in the East Pilbara.

Contact:

Alastair Clayton

Email: alastair.clayton@artemisresources.com.au

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