METEORIC RESOURCES NL — Capital/Financing Update 2007

Jan 10, 2007

ASX Release 11 January 2007 ASX code: MEL

METEORIC RESOURCES

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

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

HARRODS UPDATE

As foreshadowed in the September quarterly report. Meteoric has completed a 52-hole, 3.280m RC drilling programme at Harrods Central, which forms part of Meteoric's Wilthorpe gold project situated 25km south of the 1Moz Fortnum gold mine in the Peak Hill Goldfield, WA.

The drilling, on 25m x 20m centres, extended the more intensely drilled area at Harrods to about 250m x 200m centred on the previously close-drilled panels at Areas A and B. At this stage the drilling has been limited to the weathered zone. generally to a vertical depth of about 50m, in order to assess the oxide potential at Harrods Central.

The drilling confirmed the presence of numerous quartz veins and stringers within the target area, often associated with broad zones of pervasive alteration, interpreted to comprise weathered carbonate. The mineralisation appears to be closed off to the west and north but looks to remain open to the east and south. albeit somewhat weaker. Assay results are shown in Table 1 with significant gold intercepts including:

WDRC-130	3m @ 4.7g/t from 60m
WDRC-131	2m @ 3.4g/t from 37m
WDRC-132	3m @ 3.1g/t from 42m
WDRC-144	2m @ 11.7g/t from 9m
WDRC-145	$4m \omega$ 4.3g/t from $4m$
WDRC-146	2m @ 9.4g/t from 39m
	5m @ 4.2g/t from 51m
WDRC-147	2m @ 6.8g/t from 20m
WDRC-152	2m @ 6.2g/t from 13m
WDRC-163	1m @ 7.1g/t from 31m

Geological consultants have been engaged to model the mineralisation within the 250m x 200m target area at various cut-off grades with a view to estimating the near surface resource. The mineralisation remains open at depth and it is hoped that the modelling of the shallow mineralisation will provide specific targets for deeper drilling to test the potential for high-grade zones at depth. The modelling is expected to be completed by the end of February 2007.

In the meantime, Meteoric has commenced a detailed ground magnetic survey at its Scorpion Well project, 10km southeast of the +2Moz Darlot-Centenary gold mine in WA where structures and rock types favourable for Centenary-style mineralisation have been interpreted. It is anticipated that drilling of targets identified by the magnetic survey will commence in February-March 2007.

		Table 1
HARRODS RC DRILL INTERSECTIONS
		JANUARY 2007
Coordinates		From	To	Interval

Hole No		Collar Coordinates	From	To	Interval	Gold Grade
	Е	N	m	m	m	g/t
WDRC-117	6430	4310	$\overline{9}$	10	1	1.1
			$\overline{27}$	28	1	1.4
WDRC-118	6430	4330	30	31	1	1.3
WDRC-119	6455	4363	42	43	1	1.2
			72	76	$4^*$	1.2
WDRC-120	6455	4383	$\overline{53}$	54	1	1.1
			$\overline{57}$	58	1	1.8
WDRC-122	6480	4254	59	60	1	1.3
WDRC-125	6480	4405	29	30	1	1.1
			58	61	$\overline{3}$	1.1
WDRC-126	6505	4215	21	22	$\overline{\mathbf{1}}$	1.1
			32	34	$\overline{2}$	1.6
			35	36	1	1.0
			41	42	1	1.5
			48	49	1	2.2
			57	60	$\overline{3}$	$2.7$ eoh
WDRC-127	6505	4255	22	23	1	1.1
			$\overline{37}$	38	1	4.9
			41	42 $\overline{17}$	1	4.6
WDRC-128	6505	4295	16 $\overline{22}$		1	1.4
WDRC-129	6505	4381		23	1 1	1.0
			61 70	62 $\overline{71}$	1	1.1 $\overline{1.4}$
WDRC-130	6505	4415	29	30	1	1.1
			$\overline{51}$	52	1	4.7
			60	63	$\overline{\overline{3}}$	4.7
			64	68	$\overline{4}$	1.5
WDRC-131	6530	4240	$\overline{37}$	39	$\overline{2}$	3.4
WDRC-132	6530	4260	25	26	1	1.1
			27	28	1	1.3
			$\overline{31}$	$\overline{32}$	1	5.1
			$\overline{42}$	45	$\overline{\overline{3}}$	$\overline{3.1}$
			$\overline{47}$	48	$\overline{\mathbf{1}}$	1.6
WDRC-133	6530	4300	24	25	$\overline{\mathbf{1}}$	2.7
			58	60	$\overline{2}$	1.2
WDRC-134	6530	4320	$\overline{17}$	$\overline{21}$	$\overline{4}$	$\overline{1.2}$
			28	29	1	1.5
WDRC-135	6530	4340	35	36	1	1.4
			46	47	$\overline{1}$	1.6
WDRC-136	6530	4377	18	19	1	4.1
			25	26	$\overline{\mathbf{1}}$	1.5
			30	31	$\overline{1}$	1.2
			58	60	$\overline{2}$	2.4
WDRC-137	6530	4393	0	4	$4^*$	1.0
			32	33	$\overline{\mathbf{1}}$ $\overline{\overline{3}}$	1.6
			51	54	$\overline{\mathbf{1}}$	1.2
WDRC-138	6530	4479	51	52	1	1.3 3.5
WDRC-139			31	32
			33	34	1	2.9

Table 1 (cont.)
HARRODS RC DRILL INTERSECTIONS JANUARY 2007

Hole No		Collar Coordinates	From	To	Interval	Gold Grade
	Е	N	m	m	m	g/t
WDRC-140	6555	4286	5	6	1	2.8
			20	$\overline{21}$	1	1.0
			29	30	1	4.0
			35	36	1	2.7
			46	47	1	2.6
			63	64	1	1.3
WDRC-141	6555	4326	26	29	3	2.7
WDRC-142	6555	4366	20	24	$4^*$	2.2
			36	37	1	2.4
			64	65	1	1.3
WDRC-143	6555	4487	8	9	1	$\overline{1.2}$
			38	40	$\overline{2}$	2.0
			51	52	1	1.0
WDRC-144	6580	4290	9	11	$\overline{2}$ $\overline{2}$	11.7
			13 18	15 19	1	1.1 2.0
			33	34	1	3.9
			48	49	1	1.8
WDRC-145	6580	4310	4	8	4	4.3
		including	4	$\overline{5}$	1	12.0
			32	$\overline{34}$	$\overline{2}$	1.2
			40	41	1	3.4
WDRC-146	6580	4330	20	21	1	2.0
			37	38	1	1.5
			39	41	$\overline{2}$	9.4
			43	45	$\overline{2}$	1.7
			48	49	1	2.8
			51	56	5	4.2
		including	55	56	1	16.4
WDRC-147	6582	4349	20	22	$\overline{2}$	6.8
			32	33	1	3.4
WDRC-149	6580	4405	14	15	1	1.2
			$\overline{35}$	36	1	1.0
WDRC-150	6580	4500	5 45	6 46	1 $\overline{\mathbf{1}}$	2.0 2.0
			56	57	1	1.6
WDRC-151	6605	4300	$\overline{17}$	18	$\overline{1}$	6.8
			35	38	$\overline{\mathbf{3}}$	1.0
			44	45	1	1.2
			46	47	1	1.2
			51	52	1	1.4
WDRC-152	6605	4340	13	17	$\overline{4}$	3.5
		including	$\overline{13}$	15	$\overline{2}$	6.2
			22	23	$\overline{\mathbf{1}}$	3.2
WDRC-153	6605	4380	28	29	1	1.8
			31	$\overline{32}$	1	7.1
			54	55	$\overline{1}$	1.0

Table 1 (cont.) HARRODS RC DRILL INTERSECTIONS JANUARY 2007

Hole No		Collar Coordinates	From	To	Interval	Gold Grade
	Е	N	m	m	m	g/t
WDRC-154	6605	4420	2	3		2.5
WDRC-157	6630	4340	30	31		1.1
WDRC-158	6630	4380	27	28		1,3
			33	34		3.4
WDRC-163	6630	4360	14	15		1.6
			41	42		4.5
WDRC-164	6630	4400	37	40	3	1.1
			62	63		2.0

Drill azimuth 180°, dip -60° 1m samples, uncut, Au by 50g charge fire assay * 4m composite sample, uncut, Au by AAS

For more information on the company visit www.meteoric.com.au

Please direct enquiries to: Roger Thomson Managing Director Phone (08) 9485 2836 Mob 0419 969 183

George Sakalidis Executive Director - Exploration Phone (08) 9485 2836 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
emp 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.