METEORIC RESOURCES NL — Interim / Quarterly Report 2007

Jul 30, 2007

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QUARTERLY REPORT For the Quarter Ended 30 June 2007

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SUMMARY

• Drilling of deeper, potentially higher grade targets at Harrods Central scheduled for August, with the aim of improving the overall resource grade and the economics of the Harrods Central gold resource.

• First pass RAB and aircore drilling carried out over gold and nickel targets at Top Well, with assaying in progress.

• Drilling of ground magnetic targets with potential for Centenary-style gold mineralisation at Scorpion Well scheduled for August.

• Geochemical sampling at Mt Remarkable has identified several gold anomalies and a coincident nickel-copper anomaly warranting follow- up.

• A geochemical drilling programme completed over gold targets at Ruby Well.

• Two radiometric anomalies with potential for uranium identified at Warrego North.

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Project Locations

WILTHORPE (Meteoric 90%)

Drilling of higher grade targets at depth at Harrods Central is scheduled to commence in late August/early September 2007. The drilling targets have been identified from the block model of the resource area which shows a series of steep plunging, higher grade zones which are open at depth.

Preliminary open pit optimisation studies of the Harrods Central resource show a poor economic return at current gold prices and cost levels, hence a focus on testing potentially higher grade zones in an attempt to raise the size and average grade of the resource and thereby improve its economics. In the meantime modelling of the 800m-long Harrods South mineralisation is in progress.

SCORPION WELL (Meteoric 100% and earning up to 70%)

Permitting and clearing for scout aircore drilling has been completed at Scorpion Well situated 10km southeast of the +IMoz Darlot-Centenary gold mine. Delays in drill rig availability have resulted in the proposed drilling programme being deferred until mid August.

Both the Darlot and Centenary and Centenary gold deposits are hosted by dolerites and gabbros with the Centenary mineralisation mainly occurring within a magnetic unit of the mafic sequence adjacent to the El Dorado shear zone which is interpreted to trend through the Scorpion Well tenements. Ground magnetic surveys have identified several anomalies which are interpreted to be structurally disrupted magnetic dolerites adjacent to the El Dorado shear that are considered to be favourable positions for gold mineralisation and which comprise the drilling targets.

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TOP WELL (Meteoric earning up to 70%)

A 56-hole, 2249m RAB aircore drilling programme was completed over aeromagnetic targets at Top Well situated 85km west of Leonora in the Eastern Goldfields. The scout drilling tested the potential for gold mineralisation in shear zones within strike extensions of the Quinns Hills greenstone sequence to the south and for nickel sulphides associated with ultramafic rocks. The drilling intersected ultramafic rocks associated with several of the aeromagnetic targets, however at other target areas transported overburden up to 90m thick was encountered and bedrock was not intersected. Drill samples are currently being analysed with results awaited.

MT REMARKABLE (Meteoric earning up to 70%)

First pass geochemical sampling of soil covered aeromagnetic targets on two exploration licences at Mt Remarkable, about 80km south west of Laverton, has outlined geochemical anomalies worthy of follow-up on one of the licences. Several areas of anomalous gold values (peak value 19ppb Au compared to a background of 1-2 ppb) coincide with aeromagnetic features which may reflect shear zones within a greenstone sequence flanking a granite. In addition, a 1km-long coincident Ni-Cu anomaly has been identified on the projected strike extension of an ultramafic unit (peak value of 1140ppm Ni and 92ppm Cu compared to backgrounds of 50ppm Ni and 30ppm Cu). Follow up soil sampling to define these anomalies is in preparation. Soil sampling on the second licence does not appear to have been effective because of extensive transported cover and scout RAB drilling to investigate aeromagnetic targets is now being planned.

JARBORA HILL (Meteoric 100%)

A suitable RC drilling rig is being sourced to drill test the 500m-long quartz and sericite alteration zone defined by previous RAB and aircore drilling.

BULLFINCH (Meteoric 90%)

RC drilling of the Rutherfords Find gold prospect is now anticipated to start in August. The drilling will target depth extensions of a previous best drill intercept of 4m @ 10.5g/t Au from 71m.

RUBY WELL (Meteoric 60%)

A 247-hole, 448m shallow vacuum drilling programme was completed over geological and structural targets at Ruby Well about 70km north of Meekatharra. This strategically located tenement is situated on the southern projected extension of the Jenkjn Fault zone where several gold discoveries have recently been reported in the Doolgunna region. Meteoric’s geochemical drilling targeted structures interpreted from aeromagnetic data, with sample analyses currently in progress.

ROBINSON RANGE ( Meteoric100%)

This 50sq km exploration licence application covers a 14km strike length of banded iron formations of the Proterozoic-aged Robinson Range Formation in the Padbury Basin. These iron formations are considered to have potential for iron ore and gold. Whilst the tenement has been granted Meteoric, like other tenement applicants in this region, has not been able to access the tenement pending clarification of the terms of the Indigenous Land Use Agreement applying to this area. Upon signing of an appropriate heritage protection agreement with the traditional owners, Meteoric plans to carry out mapping and sampling programmes to assess the iron and gold potential.

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BARKLY (Meteoric earning 70%)

Two anomalous copper-gold zones associated with hematitic ironstones at the Bluebird prospect, identified by previous RAB drilling, are to be tested at depth once a suitable RC drilling rig can be sourced in the Tennant Creek area. Targets to be tested include depth extensions of previous drill intercepts of 8m @ 1.0% Cu and 0.3g/t Au from 72m (end of hole) and various 4m intervals ranging up to 0.2% Cu, 1.1g/t Au and 0.13% Bi.

WARREGO NORTH (Meteoric 100%)

In addition to testing the potential for Tennant Creek-style copper-gold mineralisation at Warrego North, two radiometric anomalies have been identified approximately 17km north west of the Warrego mine. Preparations are in hand to carry out ground radiometric surveys and sampling over these anomalies to test the potential for uranium mineralisation. Recent tenement acquisition activity for uranium in the district has highlighted the potential of this area for uranium.

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

Please direct enquiries to:

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

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MINING EXPLORATION ENTITY QUARTERLY REPORT

APPENDIX 5B

Name of entity:

Meteoric Resources NL ABN: Quarter ended (“current quarter”) 64 107 985 651 30/6/2007 Consolidated statement of cash flows Cash flows related to operating activities Current quarter $AUD’000 Year to date (12 months) $AUD’000 1.1 Receipts from product sales and related debtors 13 69 1.2 Payments for: (a) exploration and evaluation (b) development (c) production (d) administration (89) - - (78) (726) - - (362) 1.3 Dividends received - - 1.4 Interest and other items of a similar nature received 23 102 1.5 Interest and other costs of finance paid - - 1.6 Income taxes paid - - 1.7 Other (provide details if material) - - Net Operating Cash Flows (131) (917)	Meteoric Resources NL ABN: Quarter ended (“current quarter”) 64 107 985 651 30/6/2007 Consolidated statement of cash flows Cash flows related to operating activities Current quarter $AUD’000 Year to date (12 months) $AUD’000 1.1 Receipts from product sales and related debtors 13 69 1.2 Payments for: (a) exploration and evaluation (b) development (c) production (d) administration (89) - - (78) (726) - - (362) 1.3 Dividends received - - 1.4 Interest and other items of a similar nature received 23 102 1.5 Interest and other costs of finance paid - - 1.6 Income taxes paid - - 1.7 Other (provide details if material) - - Net Operating Cash Flows (131) (917)	Meteoric Resources NL ABN: Quarter ended (“current quarter”) 64 107 985 651 30/6/2007 Consolidated statement of cash flows Cash flows related to operating activities Current quarter $AUD’000 Year to date (12 months) $AUD’000 1.1 Receipts from product sales and related debtors 13 69 1.2 Payments for: (a) exploration and evaluation (b) development (c) production (d) administration (89) - - (78) (726) - - (362) 1.3 Dividends received - - 1.4 Interest and other items of a similar nature received 23 102 1.5 Interest and other costs of finance paid - - 1.6 Income taxes paid - - 1.7 Other (provide details if material) - - Net Operating Cash Flows (131) (917)	Meteoric Resources NL ABN: Quarter ended (“current quarter”) 64 107 985 651 30/6/2007 Consolidated statement of cash flows Cash flows related to operating activities Current quarter $AUD’000 Year to date (12 months) $AUD’000 1.1 Receipts from product sales and related debtors 13 69 1.2 Payments for: (a) exploration and evaluation (b) development (c) production (d) administration (89) - - (78) (726) - - (362) 1.3 Dividends received - - 1.4 Interest and other items of a similar nature received 23 102 1.5 Interest and other costs of finance paid - - 1.6 Income taxes paid - - 1.7 Other (provide details if material) - - Net Operating Cash Flows (131) (917)
		30/6/2007
	Current quarter $AUD’000		Year to date (12 months) $AUD’000
	13 (89) - - (78) - 23 - - -		69 (726) - - (362) - 102 - - -
	(131)		(917)
Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets 1.9 Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets 1.10 Loans to other entities 1.11 Loans repaid by other entities 1.12 Other (Loan repayments to associated company) Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)	(4) (4) - - 28 - - - 57		(13) (19) (2) - 83 - - - (7)
	(37)		41
	(168)		(875)

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1.13 Total operating and investing cash flows (brought forward)	(168)	(875)
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other (provide details if material) – Share issue expenses Net financing cash flows	82 - - - - -	83 - - - - -
	82	83
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end ofquarter	(86) 1,403	(792) 2,109
	1,317	1,317

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

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Current quarter
$AUD'000
1.23 Aggregate amount of payments to the parties included in item 1.2 81
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 Amount used
$AUD’000 $AUD’000
3.1 Loan facilities - -
3.2 Credit standby arrangements - -
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Estimated cash outflows for next quarter

Estimated cash outflows for next quarter
4.1 Exploration and evaluation 4.2 Development	$AUD’000
	300
	-
Total	300

Reconciliation of cash

Reconciliation of cash
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 follows.	Current quarter $AUD’000	Previous quarter $AUD’000
5.1 Cash on hand and at bank 5.2 Deposits at call 5.3 Bank overdraft 5.4 Other (provide details) – Short Term Deposit	197	6
	-	-
	-	-
	1,120	1,397
Total: cash at end of quarter(item 1.22)	1,317	1,403

Changes in interests in mining tenements

6.1 Interests in mining tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements acquired or increased	Tenement reference	Nature of interest	Interest at beginning ofquarter	Interest at end of quarter
	EL24362	Relinquished	100%	0%
	E70/3217	Application	0%	100%

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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 7.2 Issued during quarter	N/A
	Nil
7.3 Ordinary securities Fully paid Partly paid 7.4 Issued during quarter	44,197,108 15,101,527	44,197,108 15,101,527
	Nil
7.5 Convertible debt securities 7.6 Issued during quarter	N/A
	Nil
7.7 Options 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	2,400,000 2,400,000 (Both to acquire partly paid shares)	Not quoted Not quoted	Exercise price $0.06 $0.06	Expiry date 21.11.2010 16.11.2011
	Nil
	Nil
	Nil
7.11 Debentures	N/A
7.12 Unsecured notes	N/A

Compliance statement

• 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.

• 2 This statement does give a true and fair view of the matters disclosed.

Roger Thomson Managing Director Date: 31 July 2007

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