METEORIC RESOURCES NL — Capital/Financing Update 2007

Aug 22, 2007

ASX Release ASX code: MEI 23 August 2007

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DRILLING STARTS AT BULLFINCH, HARRODS AND SCORPION WELL

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As foreshadowed in Meteoric’s June 2007 Quarterly Report, drilling to test the depth extensions of the Rutherfords Find prospect at Bullfinch has now commenced. The three-hole, 500m RC drilling programme is designed to test below a previous best intersection of 4m at 10.5g/t Au from 71m.

Upon completion of this programme the rig will move to the Wilthorpe gold project to drill targets identified from the block model at Harrods Central. The model shows a series of steep-plunging, higher grade zones trending below the level of the existing drilling.

Drilling is also scheduled to start in the next week at Scorpion Well situated 10km south east of the +IMoz Darlot-Centenary gold mine. Ground magnetic surveys have identified several targets which are interpreted to be magnetic dolerites similar to those which host the Centenary mineralisation. The 3,500m aircore programme will test a total of eight targets below transported cover.

Results from the recent Top Well RAB drilling programme near Leonora are currently being assessed, with results from the previously reported Ruby Well shallow drilling in the Peak Hill district yet to be received.

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.