METEORIC RESOURCES NL — Capital/Financing Update 2018

Jul 4, 2018

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5 July 2018

MULLIGAN MAIDEN DRILL PROGRAM FINALISED

• 16-hole maiden drill program (1,570m NQ) confirmed for the Mulligan Cobalt Project

• 7 high chargeability polymetallic anomalies to be drill tested

• 3D induced polarisation anomalies modelled to a depth of 500m below surface

• Award of drilling contract and mobilisation to site expected in the coming weeks

Meteoric Resources NL (ASX: MEI; “Meteoric” or “the Company”), a Canadian cobalt focussed explorer, announces the finalisation of a 16-hole maiden drill program (see Figure 1 & Table 1) for its 100% owned Mulligan Cobalt Project, located in East Ontario, Canada.

The Company recently completed a closely spaced (100m x 25m), ground based Induced Polarisation (IP) survey across the entire Mulligan Cobalt Project. Data from the geophysical survey was modelled in 3D to support the design of the 16-hole maiden drill hole program at the Project.

1,570 metres of NQ diamond core drilling has been planned to test the 7 highly chargeable IP modelled anomalies. Award of the drilling contract and mobilisation to site is expected to commence in the coming weeks. All drilling will be angled diamond holes designed to intersect the IP anomalies between 30 to 90 meters below surface.

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Planned drill collar
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Figure 1: Oblique view of the Mulligan Cobalt Project 16 Hole (1,570m NQ) Maiden Drill Program and IP inversion model. Drill hole position are approximate. The two isolated holes are positioned to test beneath existing working that have only a weak IP anomaly.

WWW.METEORIC.COM.AU • ASX: MEI •ABN 64 107 985 651

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10 & 16
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Figure 2: Plan view of the Mulligan Cobalt Project 16 Hole (1,570m NQ) Maiden Drill Program and IP inversion model

WWW.METEORIC.COM.AU • ASX: MEI •ABN 64 107 985 651

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HOLE ID	NORTHING	EASTING	ELEVATION	AZIMUTH	DIP	DEPTH
MD001	5301550	602295	237	90	-50	70
MD002	5301550	602290	237	90	-60	90
MD003	5301410	602495	237	280	-50	80
MD004	5301410	602535	237	280	-60	130
MD005	5301070	602620	237	270	-60	70
MD006	5301190	603030	237	270	-60	60
MD007	5300690	602350	237	270	-60	60
MD008	5300595	602450	237	270	-50	130
MD009	5301000	602910	237	270	-60	100
MD010	5300980	602910	237	270	-60	100
MD011	5300960	602910	237	270	-60	100
MD012	5300910	602540	237	270	-60	110
MD013	5300880	602540	237	270	-60	110
MD014	5300850	602540	237	270	-60	110
MD015	5300880	602560	237	270	-60	130
MD016	5300980	602930	237	270	-60	120
					Total:	1570

Table 1: 16 Hole / 1,570m Maiden NQ Diamond Drill Program for Mulligan Cobalt Project, Ontario Canada. Note hole numbers are indicative only and change depending on order in which holes are drilled.

Meteoric Resources MD, Dr Andrew Tunks commented:

“ The finalisation of the drill program is a culmination of the hard work our team has put in on the ground in Canada, led by our cobalt expert Tony Cormack, since the beginning of the field season and we are very excited to be commencing our maiden drilling program at Mulligan. We have diligently and systematically been working through target generation across our entire Canadian cobalt portfolio and whilst we kick off with drilling at Mulligan, we will continue to advance our other projects through both air and ground geophysics programs

“As I have said many times before, drilling for an exploration company like Meteoric is truly the most exciting stage, as it is the only through drilling, that you can make a discovery. ”

Next Steps

Airborne Geophysical programs are scheduled to commence at Iron Mask and Mulligan East, with ground geophysics at Burt, Joyce Lake and Lorrain set to follow. These programs will generate drill targets that will be ranked and drill tested over the coming months.

Contact

Dr Andrew Tunks - Managing Director Victoria Humphries – Investor Relations Managing Director NWR Communications M +61 400 205 555 M +61 431 151 676 ajtunks@meteoric.com.au victoria@nwrcommunications.com.au

WWW.METEORIC.COM.AU • ASX: MEI •ABN 64 107 985 651

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Competent Persons Statement

The information in this announcement that relates to exploration and exploration results is based on information compiled and fairly represented by Mr Tony Cormack who is a Member of the Australasian Institute of Mining and Metallurgy and a consultant to Meteoric Resources NL. Mr Cormack has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which has been undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Cormack consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.

WWW.METEORIC.COM.AU • ASX: MEI •ABN 64 107 985 651