METEORIC RESOURCES NL — Interim / Quarterly Report 2005

Oct 26, 2005

QUARTERLY REPORT For the Quarter Ended 30 September 2005

HIGHLIGHTS

• * Continued encouragement from Wilthorpe where RAB drilling has encountered numerous gold intersections over a 2.4km-long corridor to the north and south of the Harrods Central mineralisation. A 12.000m follow-up RAB programme has commenced, to test the extent of this recently discovered mineralisation and define targets for RC drilling. Meteoric plans to increasingly focus on its Wilthorpe project in order to assess the potential of this large mineralised system which is showing some similarities with the plus 2Moz Callie gold deposit in the Tanami region, NT.
• " Follow up RC drilling at the Rutherfords Find prospect at Bullfinch intersected high gold grades with a best intercept of 4m at 10.1g/t Au from 71m. The drilling highlighted the potential of this poorly explored area and further drilling and geochemical surveys are planned to test for depth extensions and repetitions of this highgrade mineralisation.
• An encouraging intercept of 8m at 1.0% Cu and 0.3g/t Au from 72m at end of hole from first pass RAB drilling at Bluebird, Barkly JV, NT.

WILTHORPE (Meteoric earning 90%)

A 100-hole, 6.667m programme of wide-spaced inclined RAB drilling (200m-spaced north-south lines) have been completed in the northern and southern Harrods extension zones for the first time. (ASX release 4 October 2005.) Also a 153-hole 1,227m shallow, vertical geochemical drilling programme was carried out to further define the 2.4km long bedrock gold anomaly at Harrods. Significant intersections are shown in the attached table and summarised as follows:

WDRB-379	1m @ 8.2g/t Au from 38m
WDRB-399	1m @ 3.9g/t Au from 23m
WDRB-419	5m @ 4.2g/t Au from 28m
including	1m @ 18.0g/t Au from 31m
WDRB-424	3m @ 3.5g/t Au from 12m
	1m @ 5.4g/t Au from 26m
WDRB-437	1m @ 3.9g/t Au from 64m
WDRB-442	2m @ 3.4g/t Au from 72m
WDRB-444	1m @ 4.4g/t Au from 15m
WDRB-455	1m @ 35.9g/t Au from 62m eoh
WDRB-466	4m @ 4.6g/t Au from 45m
WDRB 587	4m @ 6.3g/t Au from 4m

The drilling encountered numerous mineralised intersections over the 2.4km length of this large mineralised system, as shown in the attached figure, indicating likely repetitions of the Harrods Central zone where some excellent high-grade intersections were obtained in previous RC drilling (see inset in the attached figure and the attached drill sections). Similarities in the geological setting and mineralisation style can be seen between Harrods and the plus 2Moz Callie deposit in the Tanami region of the NT. Studies are in progress to further examine these similarities and to clarify the vein geometry at Harrods.

To follow up these highly encouraging results, an expanded 12,000m infill RAB drilling programme has commenced on 100m line spacings to test the extent of the recently identified mineralisation and define targets for RC drilling. The results of this sizeable drilling programme are anticipated towards the end of November. In the meantime further RC drilling is being planned at Harrods Central to confirm the geometry and continuity of the mineralisation. In addition, a detailed ground magnetic survey is in preparation to map the magnetic stratigraphy and help elucidate structure and interpreted folded stratigraphy in close proximity to the Harrods mineralisation.

BULLFINCH (Meteoric earning 90%)

As previously reported (ASX release 11 October 2005) follow-up RC drilling at Rutherfords Find intersected high grade gold mineralisation down dip from previous shallow drilling on old workings, with a best intersection of 4m at 10.1g/t Au from 71m (including 2m at 18.7g/t Au from 72m). Limited RC drilling at Reynolds Find and Withers South did not intersect significant mineralisation. Significant intersections at Rutherfords Find include:

$1.9000000000000000000000000000000000000$
Hole No	Collar Coordinates		From	То	Interval	Gold Grade
			m	m	m	g/t Au
BRC-29	69632	11812	67	69		2.6
BRC-30	69632	11763		75		10.1
	including		72	74		18.7
BRC-31	69631	11663	66	67		0.9
BRC-34	69595	11711	129	131		2.6
BRC-35	69606	11789	109	110		2.6

Rutherfords Find RC Drilling Results

1m samples, uncut Dip -60°, azimuth 360°

Rutherfords Find, situated 8km east of the 1.4Moz Copperhead gold mine, consists of an eastwest striking line of old workings over a strike length of 200m. The drilling results demonstrate a potential for high-grade shoots and further drilling is being planned to test the extent of the highgrade mineralisation. The nearby Golden Frog area has several reported occurrences of mineralised veins within granite and a programme of geochemical sampling is being planned to test this and other areas for repetitions of Rutherfords-style mineralisation.

JUNCTION LAKE (Meteoric earning 100%)

Scout RAB drilling is being planned to follow up targets outlined by geochemical sampling and ground magnetic surveys on this project situated 150km southeast of Kalgoorlie.

ULARRING (Meteoric earning 100%)

Reconnaissance surveys for gold and nickel are in preparation on this project covering an underexplored greenstone sequence about 120km northwest of Coolgardie.

BARKLY (Meteoric earning up to 70%)

A 7,544m shallow vertical RAB drilling programme was completed over combined magnetic/gravity targets in the Perseverance-Bluebird area about 30km east of Tennant Creek. The drilling defined a 600m long bedrock copper anomaly, open to the east, along strike from the Bluebird workings. Follow-up inclined RAB drilling (1,373m) at Bluebird and on this anomaly gave a best intercept of 8m at 1.0% Cu and 0.3g/t Au from 72m at end of hole in drill hole TBRB-717. These encouraging results are currently being assessed.

WARREGO NORTH (Meteoric earning 100%)

A single 202m RC drill hole (WNRC-20) was completed at the Parakeet prospect targeting a combined gravity/magnetic anomaly 50m west of drill hole WNRC-03 (best intercept 14m at 0.3% Cu from 145m). The drill hole encountered hematite and magnetite altered sediments but did not intersect significant mineralisation, however the hole flattened substantially and may not have tested the target.

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

Please direct enquiries to:

Roger Thomson Managing Director Phone (08) 9485 2836 Mobile 0419 969 183 Email roger@meteoric.com.au George Sakalidis Executive Director - Exploration Phone (08) 9485 2836 Mobile 0411 640 337 Email george@meteoric.com.au

The information in this report that relates to exploration results is based on information compiled by Roger Thomson BSc, ARSM 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 for 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.

HARRODS RAB INTERSECTIONS

Hole No	Collar Coordinates		From	Τo	Interval	Gold Grade
	N	Е	m	m	m	g/t
WDRB-379	2982	6194	38	39	1	8.2
WDRB-389			28	29	$\ddagger$	2.0
WDRB-390	3111	6402	17	18	1	2.3
			22	23	1	2.4
			25	26	1	1,0
WDRB-398	3309	6602	3	4	1	1.1
			13	16	3	1,2
			28	32	$\overline{\bf{4}}$	1.7
			61	62	1	1.6
WDRB-399	3274	6602	23	24	$\overline{\mathbf{1}}$	3.9
			35	36	$\overline{\mathbf{1}}$	1.2
			94	95	$\overline{\mathbf{1}}$	1.1
WDRB-419	3327	6796	15	16	1	1.3
			28	33	$\overline{5}$	4.2
		includes	31	32	1	17.97
WDRB-420	3293	6795	32	33	1	1.8
WDRB-424	3210	6802	12	15	3	3.5
			17	18	$\ddagger$	2.1
			26	$\overline{27}$	$\overline{\mathcal{L}}$	5.4
			35	37	$\overline{2}$	1.0
WDRB-425	3206	6804	$\overline{22}$	$\overline{23}$	$\overline{\mathbf{1}}$	1.5
WDRB-426	3170	6797	9	10	$\ddagger$	1.2
			$\overline{37}$	38	$\ddagger$	2.2
WDRB-427	3151	6798	22	23	1	2.5
			27	28	1	2.0
WDRB-430 WDRB-433	3052 2953	6807 6795	13 9	14 10	1 1	2.2 1.3
WDRB-436	4161	6467	$\overline{32}$	36	$\overline{\bf{4}}$	1.3
WDRB-437	4149	6460	37	38	$\ddagger$	2.7
			64	65	1	3.9
WDRB-438	4105	6473	$\overline{9}$	14	$\overline{5}$	1.4
			23	24	1	1.1
			26	27	$\ddagger$	1.1
WDRB-439	4080	6463	4	5	1	1.2
			18	19	1	1,4
			26	27	1	1.6
WDRB-442	5183	6410	72	74	$\overline{2}$	3.4
WDRB-444	5115	6406	$\overline{15}$	$\overline{16}$	1	4.4
			33	34	1	1.1
WDRB-455	5245	6797	62	63	1	35.9 eoh
WDRB-464	5008	6798	10	11	1	1.8
WDRB-465	4973	6796	43	44	1	1.0
WDRB-466	4948	6793	45	47	$\overline{2}$	4.6
WDRB-587*	3801	6660	4	8	4	6.3

1m samples, uncut
eoh – end of hole
* vertical hole, composite sample
Dip -60°, azimuth 180°

HARRODS - BEDROCK GEOCHEMISTRY AND DRILLING

WILTHORPE PROJECT - HARRODS PROSPECT SECTION 4332mN

350mRL

WILTHORPE PROJECT - HARRODS PROSPECT SECTION 4380mN

WILTHORPE PROJECT - HARRODS PROSPECT SECTION 6550mE

MINING EXPLORATION ENTITY QUARTERLY REPORT

Name of entity:

Meteoric Resources NL

ABN:			Quarter ended ("current quarter")
	64 107 985 651		30/9/2005
	Consolidated statement of cash flows
	Cash flows related to operating activities	Current quarter \$AUD'000	Year to date $(3$ months) \$AUD'000
1.1	Receipts from product sales and related debtors	45	45
1.2	Payments for: (a) exploration and evaluation (b) development (c) production	(541)	(541)
1.3	(d) administration Dividends received	(175)	(175)
1.4	Interest and other items of a similar nature received	41	41
1.5 1.6 1,7	Interest and other costs of finance paid Income taxes paid Other (provide details if material)
	Net Operating Cash Flows	(630)	(630)
1,8	Cash flows related to investing activities Payment for purchases of: (a) prospects
1.9	(b) equity investments (c) other fixed assets Proceeds from sale of: (a) prospects	(2)	(2)
1.10 1.11	(b) equity investments (c) other fixed assets Loans to other entities
1.12	Loans repaid by other entities Other (Loan repayments to associated company)	18	18
	Net investing cash flows	16	16
1.13	Total operating and investing cash flows (carried forward)	(614)	(614)

1.13	Total operating and investing cash flows (brought forward)	(614)	(614)
1.14 1.15 1.16 1.17 1.18 1.19	Cash flows related to financing activities Proceeds from issues of shares, options, etc. Proceeds from sale of forfeited shares Proceeds from borrowings Repayment of borrowings Dividends paid Other (provide details if material) - Share issue expenses	$\blacksquare$
	Net financing cash flows	1
	Net increase (decrease) in cash held	(613)	(613)
1.20 1.21	Cash at beginning of quarter/year to date Exchange rate adjustments to item 1.20	3,145	3,145
1.22	Cash at end of quarter	2,532	2,532

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

		Current quarter \$AUD'000
1.23	Aggregate amount of payments to the parties included in item 1.2	53
1.24	Aggregate amount of loans to the parties included in item 1.10

$1.25$ Explanation necessary for an understanding of the transactions

Non-cash financing and investing activities

$2.1$ Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows

N/A

$2.2$ Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest

N/A

Financing facilities available

		Amount available \$AUD'000	Amount used \$AUD'000
3.1	Loan facilities	$\blacksquare$
3.2	Credit standby arrangements	$\mathbf{r}$

Estimated cash outflows for next quarter

	Total	280
-4.2	Development	$\mathbf{m}^{\prime}$
4.1	Exploration and evaluation	280
		SAUD'000

Reconciliation of cash

follows.	Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as	Current quarter \$AUD'000	Previous quarter \$AUD'000
-5.1	Cash on hand and at bank	61	115.
5.2	Deposits at call
5.3	Bank overdraft
5.4	Other (provide details) – Short Term Deposit	2,471	3,030
	Total: cash at end of quarter (item 1.22)	2,532	3,145

Changes in interests in mining tenements

		Tenement reference	Nature of interest	Interest at beginning of quarter	Interest at end of quarter
6.1	Interests in mining tenements relinquished, reduced or lapsed	M77/1057	Option to acquire not proceeded with	0%	$0\%$
6.2	Interests in mining tenements acquired or increased		N/A

Issued and quoted securities at end of current quarter

		Total number	Number quoted	Issue price per security (cents)	Amount paid up per security (cents)
7.1	Preference securities	N/A
7.2	Issued during quarter	Nil
7,3	Ordinary securities	55,633,219	35,661,991
7.4	Issued during quarter	Nil
7.5	Convertible debt securities	N/A
7.6	Issued during quarter	Nil
7.7	Options	N/A		Exercise price	Expiry date
7.8	during Issued quarter	Nil
7.9	Exercised during quarter	Nil
7.10	Expired during quarter	Nil
7.11	Debentures	N/A
7.12	Unsecured notes	N/A

Compliance statement

• $\mathbf{1}$ This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX.
• $\overline{2}$ This statement does give a true and fair view of the matters disclosed.

Rudolf Tieleman (Company Secretary)
Date: 27 October 2005