METEORIC RESOURCES NL — Capital/Financing Update 2006

Jul 25, 2006

ASX Release 26 July 2006

ASX code: MEI

108 9485 2836 108 9485 2840 e info@meteoric.com.auwimeteoric.com au

2nd floor 35 outram st west perth wa 6005. po box 963 west perth. western australia 6872

HARRODS SHAPES UP WITH 7m @ 13.4g/t AND 10m @ 7.1g/t

A 54-hole, 3.297m RC drilling programme has been completed at Harrods Central following delays caused by several rain events. Harrods Central forms part of Meteoric's Wilthorpe gold project situated 25km south of the 1Moz Fortnum gold mine in the Peak Hill goldfield, WA. The close-spaced drilling (12.5m centres) tested two 50m x 50m panels (termed Areas A and B) to a depth of 50m to provide more information on the shape of the mineralisation and on the open cut potential of the Harrods Central sheeted vein system - see Figure 1.

Significant results from Area A include 5m at 6.2g/t Au from 4m, 7m at 9.1g/t from 31m (including 2m at 25.9 a/t), 3m at 12.7 a/t from 45m. 2m at 10.3 a/t from 40m and 10m at 7.1q/t from 23m. Results from Area B include 1m at 20.9q/t from 56m. 1m at 12.4g/t from 33m, 7m at 13.4g/t from 35m, 11m at 4.7g/t from 3m (including 4m at 10.7g/t) and 3m at 7.6g/t from 53m. A 10m-wide post-mineral dolerite dyke transects the centre of Area B. The drilling results from Areas A and B are summarised in Tables 1 and 2 respectively. The close-spaced drilling has, for the first time, allowed mineralisation shapes to be interpreted at Harrods with some confidence.

These encouraging results confirm the presence of numerous steep-dipping ENE trending quartz veins and stringers in each of the 50m-wide test areas as shown in the sections in Figures 2 and 3. The mineralised zones range from 0.5m to more than 5m in thickness and remain open at depth and along strike. In plan, the mineralisation is interpreted to comprise numerous steep-plunging shoots and lenses ranging from 10m to more than 50m in length. The two test panels are estimated to comprise less than 20% of the currently identified more intensely mineralised area at Harrods Central.

Geological consultants have been engaged to model the shape and grade of the mineralisation within the two test areas and are expected to report on this exercise by mid August. The results of this study will be used to determine the optimum drilling density required for resource evaluation at Harrods. It is envisaged that Meteoric is likely to embark on a major drill out in the September quarter based on the results of the current study, in order to test the open cut potential of the remaining 80% of Harrods Central.

In addition to the detailed RC drilling a 107-hole, 6,397m RAB drilling programme was completed, mainly focussed on infilling to 50m line spacing previous drilling at Harrods South about 1km south of Harrods Central. Significant results include 1m at 6.1g/t Au from 37m, 1m at 5.9q/t from 11m, 1m at 11.7q/t from 7m, 1m at 6.5m from 40m, 2m

at 4.8 a/t from 48m and 1m at 4.7 a/t from 71m with results shown in Table 3. The drilling confirms the presence of numerous narrow mineralised veins trending ENE over a strike length of 800m. In the central section of this zone the corridor of sheeted veins broadens to more than 100m in width. Further drilling to assess this mineralisation is likely to proceed in conjunction with the Harrods Central evaluation.

Adiacent to its Wilthorpe exploration licence. Meteoric has optioned a 160ha prospecting licence where RAB drilling in the 1980's intersected shallow gold mineralisation within metasediments (best intersection 3m at 1.3q/t Au from 24m). Gold mineralisation and anomalism can be traced over a 500m strike length in an ENE direction. A detailed ground magnetic survey has been carried out prior to drill testing of this new target about 5km SSW of Harrods Central. A second nearby 105ha tenement has also been optioned subject to grant of access. Meteoric may acquire a 100% interest in the tenements by making a cash payment within two years plus a 2% gross rovalty applicable after the first 25,000ozs of gold production.

For more information on the company visit www.meteoric.com.au Please direct enquiries to: Roger Thomson George Sakalidis Managing Director Executive Director - Exploration Phone (08) 9485 2836 Phone (08) 9485 2836 Mob 0419 969 183 Mob 0411 640 337

The information in this report that relates to exploration results is based on information compiled by Roger Thomson BSc, ARSM, MAusIMM, 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.

Figure 1 Harrods Prospect - Bedrock Geochemistry and Drilling

Figure 3 Harrods Central Area B Drill Sections

Table 1

HARRODS AREA "A" RC DRILL INTERSECTIONS

Hole No		Collar Coordinates	From	To	Interval	Gold Grade
	Е	N	m	m	m	g/t
WDRC-60	636462.5	7174272	4	$\overline{9}$	5	6.2
		including	$\overline{5}$	$\overline{7}$	$\overline{2}$	13.8
			$\overline{12}$	13	1	1.3
WDRC-61	636462.5	7174297	4	6	$\overline{2}$	1.1
			7	13	6	1.2
			22	24	$\overline{2}$	1.8
			52	53	1	1.1
WDRC-62	636462.5	7174309.5	9	15	6	1.4
			18	19	1	1.7
			21	23	$\overline{2}$	3.5
			27	28	1	1.0
			38	39	1	1.0
			41	42	1	2.2
			54	57	3	5.3
WDRC-63	636462.5	7174322	49	50	1	2.3
			57	59	2	1.2
			61	62	1	1.4
WDRC-64	636462.5	7174347	37	43	6	2.3
WDRC-65	636475	7174304	5	6	$\ddagger$	1.1
			28	29	$\ddagger$	1.1
WDRC-66	636475	7174316.5	4	9	$\overline{5}$	1.3
			$\overline{17}$	19	$\overline{2}$	1.6
			27	33	6	1.5
			35	36	$\overline{\mathbf{1}}$	1.5
WDRC-67	636475	7174329	31	34	$\overline{3}$	1.5
			36	37	1	1.3
			51	52	$\mathbf{1}$	1, 1
WDRC-68	636475	7174341.5	9	15	$\overline{6}$	2.3
		including	$\overline{13}$	14	1	7.1
			21	22	$\ddagger$	1.1
			27	31	4	1.2
			34	36	$\overline{2}$	3.8
			38	39	$\overline{\mathbf{1}}$	1.0
			50	53	$\overline{3}$	2.4
WDRC-69	636462.5	7174334.5	15	17	$\overline{2}$	4.8
			25 58	28 60	3 $\overline{2}$	1.8 4.6
WDRC-70	636475	7174354	30	31	1	2.7
			35	$\overline{36}$	$\ddagger$	1.8
			39	49	$\overline{2}$	3.3
			51	$\overline{53}$	$\overline{2}$	1.3
WDRC-72	636487.5	7174323.5	7	10	$\overline{3}$	1.1
			31	38	$\overline{\mathbf{z}}$	9.1
		including	35	37	$\overline{2}$	25.9
			55	57	$\overline{2}$	2.0
WDRC-73	636487.5	7174336	15	16	1	1.4
			24	25	1	2.5
			47	48	$\ddagger$	1.4
			58	59	$\overline{\mathbf{1}}$	1.3

Hole No		Collar Coordinates	From	To	Interval	Gold Grade
	Ē	N	m	m	$\mathbf{m}$	g/t
WDRC-74	636487.5	7174348.5	$\overline{17}$	$\overline{18}$	1	$\overline{2.7}$
			50	$\overline{57}$	$\overline{7}$	2.9
		including	55	56	1	13.6
WDRC-75	636487.5	7174361	$\overline{19}$	$\overline{20}$	$\overline{1}$	1.1
			$\overline{32}$	$\overline{34}$	$\overline{2}$	$\overline{2.6}$
			$\overline{38}$	$\overline{39}$	$\mathbf{1}$	1.4
			46	48	$\overline{2}$	1.2
			66	68	$\overline{2}$	1.6
			$\overline{73}$	$\overline{74}$	$\overline{1}$	1.7
WDRC-76	636500	7174329.5	$\overline{21}$	$\overline{23}$	$\overline{2}$	$\overline{1.2}$
			$\overline{35}$	$\overline{36}$	$\overline{1}$	1.5
			45	48	$\overline{\mathbf{3}}$	12.7
			55	$\overline{56}$	$\overline{1}$	2.3
			76	80	$\overline{\mathbf{4}}$	1.6
WDRC-77	636500	7174342	12	13	1	2.1
			20	23	$\overline{3}$	2.9
			44	$\overline{45}$	$\mathbf{1}$	1.0
			48	50	$\overline{2}$	$\overline{4.2}$
WDRC-78	636500	7174367	40	$\overline{42}$	$\overline{2}$	2.3
			62	65	$\overline{3}$	1.5
WDRC-79	636512.5	7174337.5	58	59	$\overline{\mathbf{1}}$	3.0
$\overline{\text{WDRC-80}}$	636512.5	7174325	50	52	$\overline{2}$	1.5
			53	$\overline{54}$	$\overline{\mathbf{1}}$	1.0
WDRC-81	636512.5	7174350	12	13	$\overline{\phantom{a}}$	1.3
			20	21	1	1.2
			$\overline{30}$	$\overline{31}$	$\overline{1}$	1.4
			40	$\overline{42}$	$\overline{2}$	10.3
		including	40	$\overline{41}$	$\overline{1}$	19.7
			49	$\overline{51}$	$\bf{2}$	5.0
WDRC-82	636512.5	7174362.5	$\overline{15}$	$\overline{18}$	$\overline{3}$	1.5
			$\overline{32}$	$\overline{34}$	$\overline{2}$	$\overline{3.2}$
			$\overline{36}$	$\overline{37}$	$\overline{1}$	1.7
			52	$\overline{57}$	$\overline{5}$	2.8
WDRC-106	636462.5	7174259.5	$\overline{18}$	20	$\overline{2}$	4.3
WDRC-107	636512.5	7174312	6	7	$\overline{1}$	$\overline{1.2}$
			$\overline{11}$	$\overline{12}$	1	1.4
			$\overline{23}$	$\overline{33}$	10	7.1
		including	24	$\overline{25}$	1	31.0
		including	$\overline{29}$	$\overline{31}$	$\overline{2}$	9.8
			48	50	$\overline{2}$	1.2

1m samples, uncut.

Drill azimuth 180°, dip -60°

Samples analysed using lead collection fire assay (50g charge) and flame AAS finish

Table 2

HARRODS AREA "B" RC DRILL INTERSECTIONS

Hole No		Collar Coordinates	From	Τo	Interval	Gold Grade
	E	N	m	m	$\mathbf{m}$	g/t
WDRC-83	636512.5	7174362.5	$\overline{22}$	$\overline{24}$	$\overline{2}$	$\overline{3.2}$
			$\overline{31}$	$\overline{33}$	$\overline{2}$	1.4
			50	$\overline{53}$	$\overline{3}$	2.3
WDRC-85	636530	7174446.5	24	25	1	1.2
WDRC-86	636530	7174459	50	$\overline{51}$	1	1.4
WDRC-87	636542.5	7174415.5	17	18	1	1.6
			44	49	5	2.0
WDRC-88	636542.5	7174428	33	34	1	1.7
WDRC-89	636542.5	7174440.5	$\overline{5}$	6	1	1.1
			$\overline{17}$	20	$\overline{3}$	1.5
			50	$\overline{52}$	$\overline{2}$	3.0
WDRC-90	636542.5	7174353	$\overline{7}$	8	1	1.7
			34	36	$\overline{2}$	3.6
WDRC-92	636555	7174422	35	37	$\overline{2}$	1.3
			42	44	$\overline{2}$	1.1
			55	60 57	5	5.5
		including	56 74	75	1 1	20.9 1.4
WDRC-93	636555	7174434.5	5	6	1	1.4
			36	$\overline{37}$	1	1.3
			43	47	4	1.3
			50	55	5	3.2
			61	63	$\overline{2}$	3.7
WDRC-94	636555	7174447	18	19	1	1.5
			22	23	1	1.2
WDRC-95	636555	7174459.5	10	11	1	1.0
			18	22	4	3.0
			28	29	1	1.1
			43	45	$\overline{2}$	2.8
WDRC-96	636555	7174472	31	35	4	3.7
		including	33	34	1	12.4
WDRC-97	636567.5	7174428.5	16	18	$\overline{2}$	1.1
			33	34	1	1.8
			40	42	$\overline{2}$	1.1
			55	56	1	1.8
WDRC-98	636567.5	7174441	4	11	7	1.6
			13	17	4	1.2
WDRC-99	636567.5	7174453.5	9	10	1	1.9
			26	28	$\overline{2}$	1.7
WDRC-100			32	34	$\overline{2}$	1.4
	636567.5	7174466	$12 \,$ 19	14 21	$\overline{2}$ $\overline{2}$	6.7 1.4
			38	39	1	1.7
			50	51	1	1.2
WDRC-101	636580	7174435	21	22	1	1.0
			29	32	3	2.7
WDRC-102	636580	7174447.5	7	9	$\boldsymbol{2}$	4.0
			13	15	$\overline{2}$	3.1
			21	22	1	3.9
			49.	52	3	2.1
			56	57	1	1.1

Hole No		Collar Coordinates	From	To	Interval	Gold Grade
	Ē	N	m	m	$\mathbf{m}$	g/t
WDRC-103	636580	7174460	5	$\overline{6}$	1	$\overline{1.7}$
			$\overline{23}$	$\overline{24}$	1	$\overline{3.2}$
			$\overline{26}$	$\overline{27}$	$\overline{\mathbf{1}}$	11.5
WDRC-104	636580	7174472.5	$\overline{36}$	38	$\overline{2}$	4.8
			40	43	$\overline{\overline{3}}$	1.0
			50	$\overline{51}$	1	2.4
WDRC-105B	636580	7174481	$\overline{2}$	3	1	1.0
			$\overline{6}$	$\overline{7}$	1	$\overline{1.3}$
			10	$\overline{11}$	1	$\overline{3.3}$
			$\overline{14}$	$\overline{17}$	3	2.3
			44	46	$\overline{2}$	1.4
			59	60	1	$\overline{1.9}$
WDRC-108	636542.5	7174402.5	$\overline{9}$	$\overline{11}$	$\overline{2}$	1.1
			$\overline{17}$	$\overline{19}$	$\overline{2}$	$\overline{1.2}$
			34	$\overline{35}$	1	1.6
			54	$\overline{55}$	1	1.1
WDRC-109	636555	7174409	11	$\overline{12}$	1	1.0
			$\overline{25}$	$\overline{29}$	$\overline{4}$	$\overline{2.8}$
			$\overline{35}$	42	7	13.4
			43	$\overline{44}$	1	1.1
			$\overline{47}$	$\overline{48}$	1	$\overline{1.3}$
WDRC-110	636567.5	7174416	$\overline{0}$	$\overline{2}$	$\overline{2}$	$\overline{3.2}$
			$\overline{\overline{3}}$	$\overline{14}$	$\overline{11}$	4.7
		including	$\overline{\mathbf{8}}$	$\overline{12}$	$\overline{\bf{4}}$	10.7
			43	46	$\overline{3}$	4.6
			$\overline{59}$	60	1	$2.4$ eoh
WDRC-111	636567.5	7174439	$\overline{2}$	$\overline{10}$	$\overline{\bf 8}$	2.4
		including	$\overline{4}$	$\overline{6}$	$\overline{2}$	5.5
			$\overline{34}$	$\overline{36}$	$\overline{2}$	3.0
			$\overline{38}$	$\overline{39}$	1	1.0
			$\overline{53}$	$\overline{56}$	$\overline{\mathbf{3}}$	7.6
WDRC-112	636580	7174421.5	$\overline{\overline{3}}$	$\overline{5}$	$\overline{2}$	1.3
			$\overline{7}$	$\overline{9}$	$\overline{2}$	1.0

1m samples, uncut.

Drill azimuth 180°, dip -60°

Samples analysed using lead collection fire assay (50g charge) with flame AAS finish

Table 3

HARRODS SOUTH RAB INTERSECTIONS
----------------------------------------	--	--

Hole No		Collar Coordinates	From	To	Interval	Gold Grade
	$\overline{\mathsf{E}}$	N	m	m	m	g/t
WDRB-927	636050	7172930	$\overline{8}$	$\overline{9}$	1	1.3
WDRB-929	636050	7172884	16	$\overline{17}$	1	1.6
WDRB-930	636150	7172970	$\overline{33}$	34	1	1.8
WDRB-937	636250	7173076	$\overline{35}$	$\overline{36}$	1	1.1
WDRB-938	636250	7173052	36	$\overline{39}$	$\overline{3}$	$\overline{2.4}$
		including	$\overline{37}$	$\overline{38}$	1	6.1
WDRB-941	636352	7173190	82	83	1	1.4
WDRB-942	636352	7173146	39	43	4	1.7
			50	$\overline{56}$	$\overline{6}$	1.6
WDRB-943	636352	7173108	11	12	$\overline{\mathbf{1}}$	5.9
			27	29	$\overline{2}$	1.4
WDRB-944	636352	7173084	52	54	$\overline{2}$	1.1
WDRB-947	636450	7173154	12	$\overline{13}$	1	1.7
			16	$\overline{17}$	1	1.8
WDRB-948	636450	7173114	$\overline{32}$	$\overline{34}$	$\overline{2}$	2.4
WDRB-949	636450	7173080	6	7	1	1.2
			9	12	$\overline{3}$	2.3
			24	25	1	1.6
WDRB-950	636550	7173305	33	34	1	1.0
WDRB-951	636550	7173278	20	21	1	4.2
WDRB-952	636550	7173241	7	8	1	11.7
			35	37	2	1.4
WDRB-953	636550	7173212	5	7	2	1.3
			15	16	1	4.5
			56	57	1	1.7
WDRB-954	636550	7173177	33	35	$\overline{2}$	2.4 6.5
			40	41 46	1 $\overline{2}$	1.3
			44 60	61	1	4.4
			62	63	1	1.1
			66	67	1	1.4
			68	69	1	3.0
WDRB-956	636650	7173295	20	21	1	1.2
			22	25	$\overline{3}$	1.0
			37	38	$\overline{\mathbf{1}}$	1.4
			40	42	2	1.0
			48	50	$\mathbf 2$	4.8
			51	52	1	1.9
WDRB-958	636650	7173249	16	17	1	2.5
WDRB-961	636748	7173330	71	72	1	4.7
WDRB-964	636751	7173244	13	14	1	1.3
WDRB-965	636748	7173199	70	72	$\overline{2}$	1.1
WDRB-967	636747	7173138	13	14	1	1.5
WDRB-969	636746	7173177	45	46	1	1.6
WDRB-970	636849	7173339	10	11	1	1.2
WDRB-972	636849	7173281	14	17	$\overline{3}$	1.1
			18	19	1	4.0
WDRB-985	637100	7173330	13	14	1	1.7
			15	16	1	1.7
			17	18	1	3.0

1m samples, uncut.

Drill azimuth 180°, dip -60°

Samples analysed using lead collection fire assay (50g charge) with flame AAS finish