METEORIC RESOURCES NL — Capital/Financing Update 2007

Dec 11, 2007

ASX Release ASX code: MEI 12 December 2007

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ROBINSON RANGE IRON ORE POTENTIAL

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A search of historical information has demonstrated significant iron ore potential at Meteoric’s Robinson Range project situated 100km north of Meekatharra. The 50sq km project covers the eastern limb and fold hinge area of the Millidie Syncline including the Robinson Range Formation, a Proterozoic sequence of banded iron formation, siltstone and hematitic shale. Meteoric’s tenements cover a cumulative strike length of some 13km of iron formations.

Previous work by the Geological Survey of WA (Sofoulis J, 1970, Iron Deposits of the Robinson Range, Peak Hill Goldfields, WA. GSWA Record 1970/6) observed that the iron formations (which comprise varying amounts hematite, magnetite, quartz, biotite and actinolite) range up to 30 metres or more in thickness and are separated by clastic sediments or chert. The GSWA also noted the presence of hematite, hematite-goethite and goethite enrichments considered to have been formed by deep weathering accompanied by leaching and superficial enrichment of iron formation in favourable structural, lithological and hydrological environments on or below an old land surface.

Sampling by the GSWA identified grades up to 62.5%Fe within Meteoric’s project area (comprising E52/1851 and application E52/2163) as shown in Figure 1. Sampling of hematitegoethite outcrops by the GSWA in the general Robinson Range district indicates that deleterious elements are generally within accepted limits (dry basis: SiO2 2.5%-8.2%, P 0.04%-0.17%, S 0.01%-0.14%, Al2O3 1.3%-2.9%, Ti 0.03%-0.08% and Mn 0.02%-0.08%). In addition, the aeromagnetic image shown in Figure 2 indicates that the iron formations may extend below alluvial cover within the Meteoric tenements and be more extensive than indicated by previous mapping.

Whilst Meteoric’s E52/1851 has been granted, access is not yet available following a dispute over the Nharnuwangga Wajarri Ngarlawangga (NWN) indigenous land use agreement (ILUA) regarding aboriginal heritage agreements. Meteoric is encouraged by the historical sampling results on its tenements and plans to carry out a programme of sampling and drilling when the NWN ILUA dispute is settled.

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 mineralization 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.

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Figure 1 Robinson Range Project – Geology and Sampling Results (Source: GSWA Record 1970/6)

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Figure 2 Robinson Range Project – Aeromagnetic Image