METEORIC RESOURCES NL — Capital/Financing Update 2004

Jul 13, 2004

METEORIC RESOURCES NL ABN 64 107 985 651 UPDATED PRO FORMA STATEMENT OF FINANCIAL POSITION

The following sets out the company's updated pro-forma Statement of Financial Position as at 31 March 2004 based on the final amount raised (i.e. \$4,915,161) pursuant to its prospectus dated 18 May 2004.

	Pro forma 31 March 2004 S
CURRENT ASSETS
Cash	4,889,988
Receivable	1,487
Total Current Assets	4,891,475
NON CURRENT ASSETS
Capitalised Exploration expenditure	222,760
Total Non Current Assets	222,760
TOTAL ASSETS	5,114,235
CURRENT LIABILITIES Unsecured loans
Application monies received for seed capital
TOTAL LIABILITIES
NET ASSETS (LIABILITY)	5,114,235
EQUITY Contributed Equity
Accumulated (losses)	5,114,404
TOTAL EQUITY (DEFICIENCY)	(169) 5,114,235

The pro-forma transactions are the same as in Note 2 of the Independent Accountants Report in the prospectus with the following adjustments:

• Paragraph (e) The issue of 24,575,805 shares at 20 cents each raising \$4,915,161; and
• Paragraph (f) Payment of expenses relating to the prospectus and share issue of approximately \$409,644 that will be offset against capital raised - the total expenses are estimated to be approximately \$445,758