METEORIC RESOURCES NL — Capital/Financing Update 2011

Jan 26, 2011

ASX Release ASX code: MEI 27 January 2011

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SHARE PLACEMENT TO RAISE $0.9M

The directors of Meteoric Resources wish to announce that the Company has reached agreement with CPS Securities to place 6,000,000 fully paid shares (ASX:MEI) at an issue price of $0.15 per fully paid share. Several of that brokers’ clients have continued to hold significant shareholdings in the Company and their continued support is welcomed.

Those applicant shareholders will also be issued with 4,000,000 contributing shares (ASX:MEICA) for no consideration although an amount of $0.20 in respect of each of those shares is due to be paid when called by the Company. The fully paid and contributing shares will be placed with a combination of sophisticated and professional investors.

Following the placement, Meteoric will have 74,029,251 fully paid shares and 27,504,727 contributing shares on issue and cash and liquid investments of $2.1 million after payment of raising costs. Appendix 3B New Issue Announcements will be released after the new shares have been issued and consequential application made for their quotation.

The funds raised will be directed to funding the drilling of hematite and magnetite iron ore targets at the Coorara project and for general working capital.

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