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.
21 July 2025
Firm Commitments to Raise A$4.75m
§ Firm commitments received to raise A$4.75 million at A$0.004 per share from institutional and sophisticated investors.
§ The placement was oversubscribed and strongly supported by new and existing institutional investors and existing investor both in Australia and United Kingdom
§ The issue price of $0.004 represents a 20% discount to the last close price and a 27% discount to the 15 day VWAP.
§ Funding will enable advancement of gold exploration programs at Carlow, Titan and Cassowary
§ Board of directors have agreed to invest $110,000, subject to shareholder approval
§ Raise will be in two tranches with tranche 2 to be approved at the upcoming EGM.
§ Placement strengthens the balance sheet with over $5m in treasury
Artemis Resources Limited ("Artemis" or "the Company") (ASX/AIM:ARV) is pleased to advise it has received firm commitments for a capital raising of A$4.75 million ("Placing"). The raise received strong support from sophisticated and institutional investors.
Artemis will issue 1,187,500,000 new shares at $0.004 per share. The issue price is a 27% discount to the 15 day Volume Weighted Average Price (VWAP). Shares will be issued in two tranches approx. 28% (330 million shares under Listing Rule 7.1) in the first tranche and the remaining 72% (857 million shares) following shareholder approval at an Extraordinary General Meeting (EGM) to be held on a date to be confirmed by the Company in due course.
In addition, the Company will also issue approximately 150,000,000 broker options with an exercise price of $0.001 and expiry date of 3 years after issue ("Broker Options").
Use of funds
Artemis will utilise this additional funding to undertake a substantial drill program of up to 5,000m including extensional drilling and technical studies at the Carlow Gold and Copper Project, RC drilling at Titan, and exploration at Cassowary.
1. Carlow Gold and Copper Project - diamond drilling to scope out potential for significant extensions to the Carlow Mineral Resource which contains 374koz gold and 64,000t copper and to provide samples for metallurgical test work and further studies.
2. Titan Gold Targets - shallow low-cost RC drilling of geophysical anomalies in areas with high-grade surface gold occurrences and a brecciated host sequence near previous gold mineralisation encountered in phase 1 drilling this year.
3. Cassowary Intrusion - Gravity survey across a unique untested >5km wide intrusion east of Kalgoorlie to target drilling for potential IOCG-type copper/gold mineralisation.
Carlow Gold/Copper Project
Diamond drilling will test the potential for significant extensions to the Carlow high-grade gold and copper lode system, well beyond the current limit of drilling , including:
• Widely spaced holes within a 600m gap along strike between the existing resource and a recent intersection of: 7m @ 2.9g/t Au, including 1m @ 15.3g/t Au
• Widely spaced holes to follow up an historic intersection of: 4m @ 11.1 g/t Au and 2.0% Cu 120m below the Carlow resource, which remains open below 380m
• Project Manager appointed to oversee technical studies including metallurgical test work, conceptual mining studies and a review of processing options
Titan Gold Targets
• Infill gravity survey to confirm 4 gravity anomalies (G1-G4) in an area of surface gold occurrences and strong brecciation within ~2km wide interpreted thrust zone
• RC drilling to test the G1 anomaly and wider ultramafic/sediment sequence which hosts elevated gold in recent drilling up to 0.5g/t Au (peak assay: 1m @ 16.4g/t Au) .
Cassowary Intrusion
• Artemis EL application (330km2) covering the large Cassowary Intrusion is expected to be granted in September quarter. Gravity survey planned to assist drill targeting.
• Potential for IOCG type copper-gold mineralisation has added credibility with nearby applications by WA1 Resources (2 adjacent EL's) and Teck Resources (7 EL's)
The capital raise was led by CPS Capital in Australia and Zeus Capital in the UK.
Admission
The Placing will be conducted in two tranches, with the First Tranche of 330 million shares (the "First Tranche Placing Shares") being issued and allotted under Artemis' existing shareholder authorities and the Second Tranche of 857 million shares (the "Second Tranche Placing Shares") being issued and allotted subject to the necessary resolutions being duly passed at the General Meeting.
Application has been made to the London Stock Exchange for the admission of the First Tranche Placing Shares to trading on AIM. It is anticipated that admission will take place on or around 8.00 a.m. on 23 July 2025. Application will be made to the London Stock Exchange for the admission of the Second Tranche Placing Shares to trading on AIM following the General Meeting.
Following admission of the First Tranche Placing Shares, the Company will have 3,723,172,165 Shares in issue. The Placing Shares will represent approximately 15% per cent. of the Company's enlarged share capital and will rank pari passu in all respects with the Company's existing ordinary shares.
This figure of 3,723,172,165 Ordinary Shares may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the voting rights of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Trading on the Australian Security Exchange ("ASX")
As announced on 17 July 2025 and following today's announcement, the trading halt on the Company shares on ASX has now been lifted.
For more information, please visit www.artemisresources.com.au
This announcement was approved for release by the Board.
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Tel: +44 20 3829 5000
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ASX announcements referred to in this release;
Artemis Resources, ASX Announcement, New High Grade Au-Cu-Co Resource at Greater Carlow, 13 October 2022
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 Managing 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.
Caution regarding Forward Looking Information
This document contains forward looking statements concerning Artemis Resources Limited. Forward looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward-looking statements as a result of a variety of risks, uncertainties and other factors. Forward looking statements in this document are based on Artemis' beliefs, opinions and estimates as of the dates the forward-looking statements are made, and no obligation is assumed to update forward looking statements if these beliefs, opinions or estimates should change or to reflect other future developments.
About Artemis Resources
Artemis (ASX/AIM: ARV) is a gold, copper and lithium focused resource company with a highly attractive suite of projects in Western Australia's underexplored North Pilbara Gold Province and a large copper/gold exploration target below the Eucla Basin 450km east of Kalgoorlie in Western Australia.
· Attractive projects:
o Gold/Copper - Karratha Gold Project (100%) multiple prospects incl: Carlow, Titan, Marillion, Europa
o Copper/Gold - Cassowary Intrusion Exploration Project - large IOCG type target
o Paterson Gold/Copper Project - adjacent to Havieron Mine (owned Greatland Gold)
o Lithium - Artemis/Greentech Lithium JV: Mt Marie, Kobe, Osborne.
· Highly strategic location: Tier 1 jurisdiction, close to major hub at Karratha including regional rail and road infrastructure, administrative centre and Dampier Port.
· Significant exploration upside: highly prospective tenure package in the Pilbara Region of Western Australia which is a rapidly emerging gold province dominated by >12Moz Au Hemi Project.
· Mineral Resource with growth potential: existing high-grade gold-copper-cobalt Inferred Mineral Resource at Carlow (100%-owned tenure).
· Established processing site at Radio Hill: strategically located, fully permitted.
· IOCG Exploration Target: Artemis has applied for a 330km2 exploration licence 450km east of Kalgoorlie covering a large interpreted magnetic intrusion considered to be prospective for IOCG type copper/gold mineralisation.
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