Artemis Resources Limited provided this update to shareholders on its recent ground reconnaissance program which has resulted in a significant lithium pegmatite discovery at the Mt Marie Lithium Prospect. A small program of ground reconnaissance was undertaken towards the end of 2023 and targeted several key areas as identified by the new technical team. The ground team was deployed and through the use of new on-ground techniques, the team was able to target and test various pegmatites.

In total, 24 new target areas in the northern and central sector of tenement E47/1746 have been identified and the Company will continue to systematically explore these to determine which are host to lithium bearing pegmatites. Aerial surveying via the use of drones has commenced to fully map these areas and to assist with follow up sampling plans and will be completed shortly. Following this, further rock chip sampling will be undertaken across the tenement.

The initial rock chip assays have delivered encouraging results and include the following: 23AR01-17 - 1.82% Li2O; 23AR01-16 - 1.62% Li2O; 23AR01-15 - 0.78% Li2O; 23AR01-21 - 0.65% Li2O; and 23AR01-22 - 0.50% Li2O. Two of the rock chip samples were tested for mineralogy type at Curtin University. This analysis has confirmed that the host mineral for the lithium is spodumene.

The spodumene crystals are large and do not exhibit deformity to the extent of other nearby discoveries. These samples and their subsequent structure would appear to parallel the geological fingerprint of the pegmatites at the Andover project of Azure Minerals where they have reported an exploration target of 100-240mt @ 1.00-1.5% Li2O. Azure Minerals is currently subject to a takeover proposal via a joint bid with SQM and Hancock Prospecting.

The lithium bearing pegmatite at the Mt Marie prospect occurs along a mirrored or similar NE structural trend to pegmatites discovered by Azure Minerals some 20km to the east. Further work on the tenements including drone surveying, rock chip sampling, soil sampling and other appropriate ground reconnaissance techniques will continue in the coming weeks to determine the extent of the mineralised envelope.