IGO LIMITED — Capital/Financing Update 2017

Oct 17, 2017

ASX ANNOUNCEMENT / MEDIA RELEASE

ASX:ABU

==> picture [595 x 82] intentionally omitted <==

18 October 2017

Lake Mackay JV – Project footprint grows by 60%

Highlights

• Lake Mackay tenements granted

• IGO has applied for an additional 3,245km[2] of tenements along the Central Australia Suture

• ABM application EL25147 incorporated into the joint venture area

• Approximately 200km strike of the target area covered by project tenements

ABM Resources NL (“ABM” or the Company) is pleased to announce that 12 Lake Mackay Joint Venture (“JV”) tenements, being managed by Independence Group NL (“IGO”)[1] , have been granted by the Department of Primary Industry and Resources in the NT. This has expanded the area that can be actively explored from 517km[2] to 7,612km[2] . In addition to this, tenement E80/5001 in WA has been granted but an exploration agreement with the traditional owners is presently not in place.

IGO has added 3,245km[2] of tenement applications covering the extension of the prospective geology along the Central Australian Suture. They are located to the West and South-East of the Newhaven Reserve, a wildlife sanctuary unavailable for application. These applications and ABM application EL25147 (1,580km[2] ) have been incorporated into the JV representing a 60% increase in the project area to a total of 12,883km[2] .

ABM Managing Director Matt Briggs says “The granting of the exploration tenements permit the JV partners to extend exploration from one tenement to 13 tenements. In addition, the new Lake Mackay applications ensure the full province potential is captured within the JV. This is a substantial growth of the project and continues to demonstrate the JV partner’s belief in the area.”

==> picture [461 x 244] intentionally omitted <==

Figure 1 - Lake Mackay Joint Venture Area

1IGO is earning 70% interest in ABM’s Lake Mackay tenements by solely funding $6 million of exploration expenditure (ASX 6 May 2016).

Table 1 Granted Exploration Licences covered by Exploration Agreements with the CLC

Exploration Licence	Joint Venture Parties	Status
24915	IGO/ABM	Granted
25146	IGO/ABM	Granted
30729	IGO/ABM	Granted
30730	IGO/ABM	Granted
30731	IGO/ABM	Granted
30732	IGO/ABM	Granted
30733	IGO/ABM	Granted
30739	IGO/ABM	Granted
30740	IGO/ABM	Granted
31234	IGO/ABM	Granted
29747	Castile/IGO/ABM	Granted
29748	Castile/IGO/ABM	Granted
31606	Castile/IGO/ABM	Granted

Current Program

A 6-hole 2,917 metre diamond drilling program was completed at the Grapple Prospect to further define the size and grade of mineralisation. Assay results for 5 holes remain outstanding.

==> picture [75 x 66] intentionally omitted <==

Matt Briggs Managing Director

About ABM Resources

ABM is an established gold exploration company with a successful track record of discovery in one of Australia’s premier gold mining districts. The Company owns gold resources and extensive prospective land holdings in the Central Desert Region of the Northern Territory. Activities are currently focused on the Company’s under-explored 36,000 km[2] Tanami Project area and includes:

• Drilling of advanced prospects on the Suplejack Project

• Drilling of early stage targets in the Bluebush Project area

• Systematic evaluation of high potential early stage targets

• Exploring opportunities for joint ventures of early stage targets

2