METEORIC RESOURCES NL — Capital/Financing Update 2006

Mar 1, 2006

METEORIC RESOURCES

2 March 2006

The Company Announcement Office Australian Stock Exchange Limited 4^th Floor 20 Bridge Street SYDNEY NSW 2000

Placement - Secondary Sales and Category of Relief

Further to the announcement of 23 February 2006, the Company will today place 2,786,000 ordinary fully paid shares ("Ordinary Shares") at \$0.33 each and 928,666 contributing shares ("Contributing Shares") at \$0.05 each raising net proceeds of \$965,813.

The shares will be issued today in reliance on the relief from the secondary sales restrictions in subsection 707(3) of the Corporations Act 2001 ("Corporations Act") provided in Australian Securities and Investments Commission ("ASIC") Class Order CO 02/1180 ("Class Order"). In accordance with paragraph (5) of Category 1 of the Class Order, the Company notifies ASX that all information of the kind that would be required to be disclosed under subsection 713(5) of the Corporation Act, if a prospectus were to be issued in reliance on section 713 of the Corporations Act, in relation to an offer of the shares has been disclosed to ASX.

Enclosed is an Appendix 3B in relation to the Shares.

Yours faithfully COMPANY SECRETARY

Rudolf Tieleman

€ 08 9485 2836 € 08 9485 2840 us.rau.orratoetec.m.isu wimeteoric.com.au

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