drilling restarts at mt clement gold project

ASX Announcement 11th October 2010

Drilling restarts at Mt Clement Gold Project

? RC and Diamond Drilling recommences at Mt Clement
? 4,000m planned for this second phase of drilling
? Artemis targeting extensions to the near-surface gold and deeper, high-grade gold, silver, copper mineralisation

Australian resources company, Artemis Resources Ltd. (80%) (ASX: ARV), operator of the Mt Clement Joint Venture with Northern Star Resources Ltd. (20%) (ASX: NST), is pleased to announce that RC and Diamond drilling has recommenced at its Mt Clement Gold Project in the Ashburton Gold Province of Western Australia. Up to 4,000m of drilling (comprising both RC and Diamond drilling methods) is expected to be completed in this phase of drilling. Drilling is aimed at extending the deep, high grade gold, silver, copper mineralisation associated with massive sulphide ?Type 1? style of mineralisation.

The drilling will also extend and in-fill the near-surface, ?Type 2? gold mineralisation which is potentially amenable to open cut mining extraction. This style of mineralisation, which is not associated with silver and copper, is generally restricted to the top 50m from surface. High grade gold, silver and copper mineralisation has been intersected in 4 holes drilled by Artemis during the recent RC drilling program.

This high grade mineralisation is expected to continue beyond the limits of these 4 holes and the current phase of drilling is designed to increase the known mineralised area and to build the overall gold and silver ounce inventory. For further information, please contact: David W. Price Executive General Manager Office: +61 (0)2 82212255
Email: [email protected]
Web Site: www.artemisresources.com.au