METEORIC RESOURCES NL — Interim / Quarterly Report 2013

Oct 15, 2013

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QUARTERLY REPORT for the Quarter Ended 30 September 2013

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Meteoric Resources NL ABN 64 107 985 651

ASX Codes: MEI and MEICA

22 Delhi Street West Perth WA 6005

T +61 8 9485 2836 F +61 8 9321 6571 E info@meteoric.com.au

PO Box 963 West Perth WA 6872

Issued Capital : Shares - Quoted: 97,613,867 fully paid shares 27,504,727 contributing shares

Options - Unquoted: 2,580,000 options exercisable at $0.2249 by 23.12.2014 230,000 options exercisable at $0.2370 by 21.12.2015 2,550,000 options exercisable at $0.0915 by 27.12.2016

WEBB KIMBERLITE DISCOVERY HIGHLIGHTS

 Drilling has intersected kimberlitic rocks confirming potential for a large 400sq km kimberlite field in the west Arunta region of the Gibson Desert.

 Whole rock analyses and petrological examinations have classified the intrusions as kimberlite, a favourable host for diamonds.

 Analysis of indicator minerals suggests that a small proportion of the mineral grains tested were sourced in the upper mantle under conditions considered to be favourable for diamond formation.

 Only 5 out of more than 80 targets have been tested.

 Drilling has resumed to test up to a further 20 of the aeromagnetic targets identified in this unexplored region.

Directors:

Michael Robson Non-Executive Chairman

Graeme Clatworthy Executive Director

George Sakalidis Non-Executive Director

Neville Bassett Non-Executive Director

Peter Thomas Non-Executive Director

WEBB (Meteoric 100% and right to acquire 90% of E80/4506 - subject to farmout)

First pass air core drilling has confirmed the discovery of a new kimberlite field potentially some 400 sq km in area at Webb in the West Arunta region of the Gibson Desert. (MEI ASX releases of 1 August, 3 September and 25 September 2013). The location and aeromagnetic signature of the field is shown in Figure 1. The drilling programme was aimed at testing selected ‘bullseye’ aeromagnetic targets, however drilling difficulties resulted in only seven out of more than 80 magnetic targets being tested. These seven targets were each tested with a single vertical drill hole. Two of the holes (KJ26 and KJ27) failed to reach identifiable bedrock, the remaining five holes (KJ2, KJ5, KJ7 and KJ13) all terminated in weathered olivine-bearing ultramafic volcanic rocks (Table 1).

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The priority aeromagnetic targets and drilling completed to date are summarised in Figure 2.

The freshest of the drill samples (from KJ13) were submitted for petrological examination and rock classification. This confirmed the previously reported bulk rock geochemical analysis which identified major and trace element results indicative of the rocks being kimberlite.

Diamond indicator minerals including chrome diopside, pyrope garnet and chromite have been recovered from drill samples taken from the five successful holes and were submitted for microprobe analyses. The microprobe results from chromite grains mainly from drill hole KJ13, the least weathered of the samples, plus some other drill samples, are shown in Figure 3. This diagram shows chrome/iron ratios in relation to the ratios from chromites occurring as inclusions within diamond crystals. Significantly, the Webb chromites demonstrate both a kimberlite trend representing sampling of the mantle from deeper to shallower depths and a small number of chromite ratios plotting close to the field for chromites found as inclusions in diamond. Because of the effects of weathering it is normal for chromite ratios to fall outside the specific diamond inclusion field which is representative of fresh unaltered grains. Interpretation of these microprobe results indicate that some of the grains tested were sourced from or close to the interpreted ‘diamond window’ in the mantle (ie within the diamond stability field of the upper mantle where diamonds naturally occur).

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Figure 1 Webb Diamond JV. Aeromagnetic Image

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Figure 2 Aeromagnetic Targets and Drilling Locations

Table 1 Drill Hole Summary

Drill Hole	Easting	Northing	Depth of Hole	Lithology (Bottom of Hole)	Rock Type (Bottom of Hole)
KJ-02	0392740	7488630	82m	olivine-rich fine grained weathered volcanic rock/calcrete	Weathered Kimberlite
KJ-05	0386168	7487153	79m	green volcanic clay	Very Weathered Kimberlite
KJ-07	0389755	7485270	107m	olivine-rich fine grained weathered volcanic rock	Weathered Kimberlite
KJ-08	0388840	7486260	74m	olivine-rich fine grained very weathered volcanic rock/clay/calcrete	Very Weathered Kimberlite
KJ-013	0393300	7484935	96m	olivine-rich fine grained weathered volcanic rock	Weathered Kimberlite
KJ-026	0406085	7487125	66m (Hole abandoned)	clay/chert	Sediment
KJ-027	0409578	7486436	39m (Hole abandoned)	conglomerate	Sediment

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Figure 3 Cr/Fe Ratios (red symbols) in Chromite Grains from Drill Samples

Whilst no microdiamonds have so far been recovered from the samples collected from the five targets successfully drilled, only a very small amount of material (144kg) has been processed to date. The indicator mineral chemistry suggests that conditions amenable to the sampling and preservation of diamonds have been demonstrated based on the very limited number of pipes sampled to date.

The first pass drilling programme has resumed, aiming to test up to an additional 20 magnetic anomalies which have been selected to provide information on targets with a greater geographic spread within the field and with a range of aeromagnetic responses. Selected drill samples will be analysed for indicator minerals and microdiamonds. It is envisaged that this programme will comprise a total of 1500-3000m of aircore drilling.

In conjunction with the drilling programme, a total of 40 loam samples, each of 50 kg, will be collected on a broad sampling grid over the entire field. These samples will be analysed for indicator minerals and microdiamonds. The main purpose of this sampling will be to determine whether there is a microdiamond dispersion halo associated with the field.

Under the terms of the Joint Venture, Geocrystal Pty Ltd can earn 51% of the Webb Diamond Project by expending $500,000 on exploration and completing 1,000 metres of

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drilling which is anticipated to be achieved via the current exploration program. They can earn an additional 19% by expending a further $1.5million within 2 years of the first earn in.

BARKLY (Meteoric mostly 100% - subject to farmout)

During the quarter Meteoric entered into a Farmin/Joint Venture Agreement with Blaze International Ltd (ASX:BLZ) (MEI ASX release 2 September 2013). The Barkly coppergold project is situated in the eastern part of the Tennant Creek mineral field NT which hosts numerous high-grade copper-gold deposits with past production totalling 4.7M oz of gold and 347,000t of copper.

The Barkly project covers the Bluebird and Perseverence copper-gold prospects. Bluebird is situated on a 1.6 km-long gravity ridge open to the east, where shallow geochemical drilling identified a 600m-long copper anomaly, also open to the east (see Figure 4). Follow up drilling intersected 8m @ 1.0% Cu and 0.29g/t Au from 72m at the western end of the geochemical anomaly and 4m @ 0.1% Cu and 4m @ 0.11g/t Au at the eastern end of the anomaly. RC drilling below the western intercept intersected 4m @ 4.69% Cu and 0.38 g/t Au from 115m in drill hole BBRC-2. The drilling confirmed a mineralised ironstone open at depth which appears to thicken down dip. Drill hole BBRC2 was aborted in broken ground at 137m and did not fully penetrated the ironstone target. The Perseverance prospect occurs along strike from Bluebird within an exclusion zone surrounding an aboriginal heritage site where historical drilling intersected 3m @ 43.2g/t Au from 72m in hematite and magnetite ironstones.

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Figure 4 Bluebird Gravity Image Showing Copper Geochemistry and Drill Intercepts

Meteoric holds 100% of the Barkly tenement with the exception of 9 mineral leases over the Perseverance prospect and one sub block of EL28620 (situated several kilometres

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south of Bluebird) held in joint venture with Emmerson Resources Ltd (Meteoric 70%, Emmerson 30%). Under the terms of the Blaze agreement, Blaze may earn a 50% interest in Meteoric’s interest by spending $250,000 on exploration prior to March 2015 and may earn a further 20% by spending an additional $350,000 before March 2017. Blaze may earn a further 10% if it sole funds all expenditure up until commencement of a bankable feasibility study.

WARREGO (Meteoric 100%)

Meteoric holds several granted exploration licences over magnetic anomalies north and north west of the old Warrego copper-gold mine (1.3Mozs Au, 91Kt Cu) near Tennant Creek NT. Geophysical modelling of some of the anomalies has indicated potential for Tennant Creek-style ironstone related copper-gold mineralisation at depth. This modelling is currently being reviewed in order to prioritise the exploration targets on these tenements.

COORARA (Meteoric 100%)

Meteoric holds a 40km strike length of banded iron formations in the South Yilgarn iron province, within trucking distance of the multi-user Trans Australian Railway. The iron formations have demonstrated potential for both goethite-hematite and magnetite iron ores. No exploration was carried out during the quarter.

ROBINSON RANGE

Following a review and given ongoing inability to negotiate a sensible agreement with the traditional owners, the tenements covering this iron ore prospect in the Mid West iron province have been surrendered.

WILTHORPE (Meteoric 90%)

During the quarter sampling and testing of Meteoric’s drill samples was carried out by a third party with a view to assessing the potential of using a mobile treatment plant to exploit a 61,000oz gold resource at Harrods Central and Harrods South.

UNALY HILL SOUTH (Meteoric 100%)

Meteoric holds a 2km strike length of the Atley Igneous Complex, a layered mafic intrusion containing vanadium-bearing magnetite horizons. The tenement also covers a 4km strike length of the Youanmi Shear Zone which has demonstrated gold potential evident from wide spaced historical drilling. Meteoric is seeking to farm out this prospect.

TIBOOBURRA (Meteoric 51%)

Meteoric has resumed negotiations with joint venture partner Awati Resources Pty Ltd for the sale of Meteoric’s interest in this gold project situated 300km north of Broken Hill NSW.

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CORTEGANA (Meteoric 100%)

Meteoric has applied for a 65sq km Investigation Permit over crystalline, coarse flake graphite occurrences and old graphite mines in the Aracena Metamorphic Belt, Huelva province, Spain. No modern exploration has been carried out in this old mining area and Meteoric anticipates that airborne EM techniques should be highly effective in identifying target areas for high grade graphite.

CORPORATE

During the quarter Meteoric reached agreement on a two part capital raising, involving a placement and rights issue (MEI ASX release 29 August 2013) to be underwritten by CPS Capital Group Pty Ltd. Meteoric has executed a mandate letter and is currently finalising an underwriting agreement. Pursuant to the placement Meteoric issued 11,500,000 shares at an issue price of 2.75 cents per share, to raise $316,250 before costs (MEI ASX release 18 September 2013). The placement was made to professional and sophisticated investors. The non-renounceable rights issue to shareholders is for one new share for every eight shares held as at the record date of 25 October 2013, and expected to total approximately 15,639,823 shares to be issued raising $430,095 before costs. Funds raised will be applied to further the Company’s activities on its exploration projects and to provide additional working capital and to evaluate new opportunities.

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

Please direct enquiries to:
Graeme Clatworthy	George Sakalidis
Executive Director	Non-executive Director
Phone +61 8 9485 2836	Phone +61 8 9485 2836
Mob 0418 902 341	Mob 0411 640 337

Competent Persons’ Statements

The information in this report that relates to diamond exploration results is based on information compiled or reviewed by Tom Reddicliffe BSc(Hons), MSc, FAusIMM. Tom Reddicliffe is a self-employed consultant to the Meteoric Resources NL-GeoCrystal Limited joint venture and 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’. Tom Reddicliffe consents to the inclusion of this information in the form and context in which it appears in this report.

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

About Diamonds and Kimberlite

Diamonds occur naturally at depths greater than 150 kilometres beneath the earth’s crust and are carried to the surface of the earth by volcanic activity. As this molten mixture of magma (molten rock), minerals, rock fragments and diamonds approaches the earth’s surface it begins to form a pipe-like structure shaped like a champagne flute. These pipes of igneous rocks are called kimberlites or kimberlite pipes and are composed of certain minerals called kimberlite indicator minerals, upper mantle rock fragments and other trace minerals. Shallow lakes may form in the resulting inactive volcanic crater associated with an underlying kimberlite pipe. Kimberlite pipes are the most significant source of diamonds yet only 1 in about every 200 kimberlite pipes contains gem quality diamonds. Some kimberlite pipes contain very few diamonds or no diamonds and these are referred to as non-diamondiferous or sterile.

About the Diamond Market

According to a report commissioned by the Antwerp World Diamond Centre published in 2012, the demand for diamonds is forecast to double by 2020, far outpacing supply, because of a lack of new mines. Industry commentators consider that the consumer appetite for diamonds is set to grow annually with the growth in demand over the next decade driven

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by increasing prosperity in China and India. This anticipated increase in world demand for diamonds is likely to outpace the growth in diamond production due to the impact of relatively flat growth in diamond supply towards the end of the decade, as no major new diamond deposits have been discovered since 1997. The expected consequence of this imbalance between supply and demand is that diamond prices are likely to continue to rise. The average price for global rough diamond in 2011 was US$121.60 per carat.

Typically, gem and near-gem diamonds are used in jewellery whereas industrial diamonds are used principally for cutting and grinding purposes. Gem-quality diamonds account for over 80% of the value of the world diamond market. Antwerp is the largest diamond trading centre with other key centres including Mumbai, Johannesburg and Tel Aviv. It is estimated that approximately 80% of the world’s annual production of rough diamonds is under the control of the De Beers Group and other major diamond producers including Rio Tinto, BHP Billiton and Alrosa Group.

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