METEORIC RESOURCES NL — Interim / Quarterly Report 2009

Apr 29, 2009

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QUARTERLY REPORT for the Quarter Ended 31 March 2009

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Meteoric Resources NL ABN 64 107 985 651

HIGHLIGHTS

ASX Code: MEI

35 Outram Street West Perth, WA 6005

T +61 8 9485 2836 F +61 8 9485 2840 E info@meteoric.com.au

PO Box 963 West Perth, WA 6872

Issued Capital :

50,815,290 fully paid shares

15,101,527 contributing shares

Cash: $0.7million ($1million post quarter)

• An 80sq km gold and multi-element anomaly identified at Webb in the unexplored West Arunta region of WA.

• Agreement in principle reached with the traditional owners of the Webb area, paving the way for access to this highly prospective yet unexplored area.

• A heritage agreement signed on Robinson Range, opening the way to access this mid-west iron project, where direct shipping grade hematite has been identified.

• $364,000 raised in a placement to investors, increasing Meteoric’s cash position to $1 million to fund an accelerated exploration programme at Webb and Robinson Range.

Directors:

Peter Thomas Chairman Roger Thomson Managing Director George Sakalidis Executive Director

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WEBB (Meteoric 100%)

As recently announced (MEI ASX release 26 March 2009), Meteoric has confirmed priority right of application over a large 10km x 8km gold anomaly identified by the Geological Survey of WA in the unexplored West Arunta region of the Gibson Desert.

The anomaly was identified by a helicopter-supported regional geochemical sampling programme carried out by GSWA following field work by Geoscience Australia which highlighted the copper-gold and gold potential of the Mt Webb area in the western part of the Arunta Complex which extends from the NT to WA. The Arunta Complex comprises an extensive sequence of Proterozoic metamorphic rocks intruded by granites as shown in Figure 1.

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Figure 1 Location Map

Meteoric has applied for three exploration licences totalling 760sq km covering geochemical anomalies and other targets identified outside the GSWA survey area. No record of previous exploration in these areas has been found and the areas appear to be totally unexplored.

The main anomaly is based on regolith samples taken on a grid cell of 5km x 2.5km equating to sample centres of about 3.5km or one sample per 12.5sq km. This wide-spaced sampling has defined a coherent gold anomaly some 10km x 8km in area with gold-in-soil values ranging from 10 to 20 x background (1ppb Au) and one lag sample containing 403ppb Au (0.4g/t Au), as shown in Figure 2. This gold anomaly is the largest and most coherent gold response detected by the 6,500sq km GSWA survey.

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Figure 2 Gold Geochemistry

Importantly, the Webb anomaly is supported by a large number of other anomalous elements including As, Cu, Zn, U, Co, Sn, Sc, Ce, Nd, Sm, Tl, Y, La and Ni some of which are shown in Figures 3 and 4. Some of these associated anomalies (such as arsenic, cobalt, tin and scandium) are 20km in length.

The area is extensively covered by sand and colluvium although small outcrops of granite intruding metamorphic rocks have been mapped close to the anomaly. Significantly, aeromagnetic data indicates the Webb anomaly area to be structurally complex with at least three distinct cross cutting structures evident. In addition, data from a regional 2.5km-spaced gravity survey shows a gravity ridge coincident with the major cross-cutting aeromagnetic structure through the centre of the Webb anomaly.

The Meteoric tenements occur within the remote Ngaanyatjarra aboriginal reserve which in the past has created difficulties in gaining access for mineral exploration. A recent meeting with elders at the Kiwirrkura community resulted in agreement in principle for access to E80/4234, the main target area. This is expected to pave the way for grant of the exploration licence and permitting for entry. In the meantime preparations are in hand for heritage clearance surveys to be carried out on this tenement. Meteoric is hopeful that this progress will facilitate the start of sampling and drilling of the 80sq km gold anomaly later in the year.

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Figure 3 Multi-element Geochemistry

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Figure 4 Multi-element Geochemistry

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ROBINSON RANGE (Meteoric 100%)

The Robinson Range iron project covers a 13 km-long folded sequence of Proterozoic iron formations situated 100km north of Meekatharra in the mid west iron province. Historical ore-grade sampling results indicate significant potential for direct shipping-grade hematite and goethite deposits on these tenements.

During the quarter a heritage agreement was signed with the Jidi Jidi Aboriginal Corporation, paving the way for carrying out heritage surveys and gaining access to these tenements.

BARKLY JV (Meteoric 70%)

An agreement has been signed with joint venture partner Emmerson Resources for Emmerson to take over management of this copper-gold project and for Meteoric to dilute its interest. Under the terms of the agreement Emmerson has elected to sole fund exploration with Meteoric having the right to recommence contributions when its interest is 49% or 30%. Emmerson is required to spend approximately $950,000 to dilute Meteoric to a 30% interest.

OTHER PROJECTS

In order to focus on the Webb gold project and Robinson Range iron project, Meteoric is seeking to farm out its interest in the Scorpion Well, Mt Remarkable, Top Well, Mertondale and Warrego North projects. No field work was carried out on these projects during the quarter.

CORPORATE

As recently announced (MEI ASX release 6 April 2009), Meteoric placed 6,618,181 fully paid shares with clients of Indian Ocean Capital to raise $364,000 at an issue price of 5.5 cents per share. The placement brings Meteoric’s issued capital to 50,815,290 fully paid shares and 15,101,527 contributing shares, with cash and liquid investments of $1million after placement costs.

The funds raised will be mainly directed to financing exploration of the Webb gold project and the Robinson Range iron project.

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

The information in this report that relates to exploration results is based on information reviewed or compiled by Roger Thomson BSc, ARSM, MAusIMM, who is a Member of the Australian Institute of Geoscientists. Roger Thomson is a director 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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