Artemis completes $4m placement

West Perth-based resource investment and exploration company Artemis Resources Ltd has raised $4 million to grow its diversified portfolio of prospects in Western Australia and Africa.

Pursuant to shareholder approval gained on November 30 2007, it has agreed to place 16 million shares at 25 cents per share with a 1-for-2 attaching option to sophisticated investors to raise $4m before costs of the issue.

An application will be made for listing both the shares and the options upon completion, currently expected by next Tuesday 11 December 2007, subject to clearance of funds.

Funds will be used primarily for the company's Niger Uranium JV, Copper and Molybdenum exploration project at
its Spinifex Ridge - Bamboo Creek project, acquisitions and working capital purposes.

Artemis aims to establish a diversified portfolio of investments in projects as well as investments in resource companies and currently has direct interests in gold (total inferred resources of approximately 70,000 ounces of gold) and a Molybdenum-Copper project in Western Australia.

The Company also has exposure to the uranium sector with a strategic interest in uranium developer Contact Uranium Ltd, a Uranium JV interest in Niger and a 7 per cent interest in recently ASX listed company Apollo Minerals which is exploring for IOCGU style deposits in South Australia and iron ore in Western Australia.

Tony Grey has been appointed as Special Adviser to assist Artemis in the development of the company's uranium assets.