IMAGE RESOURCES NL — Capital/Financing Update 2005

Dec 14, 2005

ASX Release

ASX code: MEI

15 December 2005

METEORIC COMPLETES WILTHORPE EARN-IN

The Board of Directors of Meteoric Resources is pleased to advise that the company has earned a 100% Joint Venture Interest in its joint venture with Image Resources. Under the terms of the agreement Meteoric could earn up to 100% of Image's interest in a package of eight properties totalling some 1,200sq km in Western Australia and the Northern Territory by expenditure of \$2.22 million. Image's interest in the tenements ranged from 60% to 100% with Image now retaining a 1% gross royalty in respect of production derived from the tenements. Image is also a substantial investor in Meteoric. holding 12% of Meteoric's fully paid issued capital.

Significantly, the joint venture includes the Wilthorpe gold project where Meteoric now holds a 90% interest and where further high-grade drill intersections have recently been announced (ASX Release 8 December 2005). Meteoric is currently focussed on assessing the extensive Harrods mineralised system at Wilthorpe where in excess of 14,000m of RAB and 1,400m of RC drilling have recently been completed, bringing Meteoric's total drilling at Wilthorpe to 39,000m.

Other properties included in the joint venture are: Bullfinch (Meteoric now 90% interest). Jarbora Hill (100%), Ularring (100%), Junction Lake (100%) and Ruby Well (60%) in Western Australia and Warrego North (100%) and Murchison Range (100%) in the Northern Territory. Since listing on ASX in July 2004 Meteoric has been very active in assessing its portfolio of gold and copper-gold projects, having completed a total of more than 61,000m of drilling and it is anticipated that this high level of activity will be ongoing.

For more information on the company visit www.meteoric.com.au

Please direct enquiries to: Roger Thomson Managing Director Phone (08) 9485 2836 Mob 0419 969 183

George Sakalidis Executive Director - Exploration Phone (08) 9485 2836 Mob 0411 640 337

The information in this report that relates to exploration results is based on information compiled by Roger Thomson BSc, ARSM, who is a Member of the Australian Institute of Geoscientists. Roger Thomson is an employee of Meteoric Resources NL. Roger Thomson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the 'Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Roger Thomson consents to the inclusion of this information in the form and context in which it appears in this report.