RADIO HILL GOLD CIRCUIT – APPROVALS UPDATE

Artemis Resources Limited has advised that it has now received the first of three key approvals necessary to commence the installation of the new 70-100 tph gold circuit at the Company’s 100% owned Radio Hill processing plant, 30 km south of Karratha in Western Australia.

There are three approvals required from the Government to commence the installation of the new gold circuit into the existing 0.5 Mtpa Radio Hill concentrator. The three approvals required are:

Once operational, the fully refurbished three-stage crushing circuit (previously two-stage) will crush ore at the rate of 100 t/hr ROM into the Fine Ore Bin (FOB). The crushed ore will be withdrawn from the FOB and fed directly into the Gekko supplied gold recovery circuit.

The gold recovery circuit is modular and has been specifically designed to recover both coarse conglomerate style gold nuggets via an In-Line Pressure Jig (IPJ2400) and fine free gold via a Sepro Minerals SB1350 Falcon concentrator. The Falcon is able to effectively recover free gold down to ?20 microns in size. Gold will be further refined in the new gold room where it will be poured into gold ore bars.

The full capital and installation cost of the Gekko circuit and gold room equipment remains on budget at approximately $3 million. All of this equipment has been delivered to Radio Hill and once the final approvals are received, installation and commissioning will commence. Artemis is working closely with the government agencies to achieve the outstanding approvals and Process 26, the company’s engineering contractor for care, maintenance and construction activities are onsite at Radio Hill