STRATEGIC PROCESSING ALLIANCE FOR PILBARA GOLD

Artemis Resources Limited has signed a Memorandum of Understanding with Pacton Gold Inc., a Canadian TSX:V listed explorer, to enter into a strategic processing alliance.

Artemis’ Executive Chairman David Lenigas said Artemis’ 100% owned Radio Hill processing plant will become a multimetal production platform and it now has a gold circuit.

Pacton is a sizeable tenement holder in the Pilbara and has recognised the strategic value of having access to Artemis’s processing operations. Trucking transport costs in the Pilbara are very reasonable, hence the attraction of access to the Radio Hill infrastructure for Pacton.

Through this collaboration with Artemis, Pacton can potentially expedite their exploration and development initiatives and as such this strategic alliance is seen as win-win for both companies.”

Pacton is a well-financed, aggressive Canadian explorer which has the backing of Mr Eric Sprott as its major shareholder. Pacton is focused on the exploration and development of conglomerate and shear hosted gold properties in the Pilbara region of Western Australia and currently controls one of the largest conglomerate-hosted gold property portfolios with tenements totalling in excess of ?2,840 km2.

The MOU contemplates collaboration between the two companies, with Artemis and Pacton seeking to determine how they can together advance, or leverage off, Artemis’ 100% owned Radio Hill operations. This will include Pacton utilising the Radio Hill processing plant, located 30 km from the city of Karratha, on a non-exclusive basis.