METEORIC RESOURCES NL — Interim / Quarterly Report 2013

Mar 14, 2013

==> picture [411 x 119] intentionally omitted <==

NL

---

HALF-YEAR FINANCIAL REPORT 31 DECEMBER 2012

---

ABN 64 107 985 651

==> picture [199 x 58] intentionally omitted <==

CONTENTS

HALF-YEAR FINANCIAL REPORT

	Page No.
Directors’ Report	3
Auditor’s Independence Declaration	7
Statement of Comprehensive Income	8
Statement of Financial Position	9
Statement of Changes in Equity	10
Statement of Cash Flows	11
Notes to and forming part of the Financial Statements	12
Directors' Declaration	16
Independent Auditor’s Review Report	17

• Page 2 -

DIRECTORS’ REPORT

==> picture [199 x 58] intentionally omitted <==

Your directors submit the financial report of the Company for the half-year ended 31 December 2012.

DIRECTORS

The following persons were directors of Meteoric Resources NL (“ Meteoric ”) during the half-year and up to the date of this report:

• Mr Peter Thomas (full period) Mr Roger Thomson (resigned 29.11.2012) Mr George Sakalidis (full period) Mr Graeme Clatworthy (appointed 29.11.2012) Mr Neville Bassett (appointed 29.11.2012) Mr Michael Robson (appointed 29.11.2012)

REVIEW OF OPERATIONS

The total loss from continuing operations for the half-year ended 31 December 2012 was $484,252 (2011: $698,271).

The Company’s activities during the six month period are summarised in this report which unless otherwise stated, should be read as if dated 31 December 2012.

BARKLY (Meteoric 100%)

During the period Meteoric Resources completed a 3-hole, 392m reverse circulation drilling programme to test an EM conductor and to test below two previous anomalous RAB intersections on the Bluebird gravity ridge, some 30km east of Tennant Creek. The gravity ridge is interpreted to reflect extensive hematite alteration, a favourable host for high-grade Tennant Creek-style coppergold mineralisation.

==> picture [373 x 240] intentionally omitted <==

Figure 1 Bluebird Drill Section 448400E

• Page 3 -

DIRECTORS’ REPORT

==> picture [199 x 58] intentionally omitted <==

Drill hole BBRC-2 tested down-dip from an intersection of 8m @ 1.0% Cu and 0.29g/t Au in hole TBRB-717. The drill hole intersected 22m of hematite ironstone before being terminated in the ironstone at 137m because of poor drilling conditions. Significantly, the upper part of the ironstone contains an intersection of 4m @ 4.69% Cu and 0.38g/t Au from 115m (0.5% Cu cut-off), as shown in Figure 1 and Table 1. The remainder of the ironstone contains anomalous copper levels ranging from 0.17%-0.29% Cu, however there was some sample loss in this section which may result in underestimation of the grade if mineralised fines were lost. The target ironstone is surrounded by a broad anomalous copper halo with evidence of talc-chlorite alteration, the ironstone appears to be widening with depth. No sulphides were evident in the ironstone, which appears to be deeply weathered.

Table 1 Bluebird Drilling Results

Hole Number	Collar E Co-ordinates N From m To m Interval m Cu % Au g/t
BBRC-1*	448330 7827205 nsi
BBRC-2	448400 7827050 including 112 116 120 120 8 4 2.20 3.70 0.26 0.30
BBRC-3	448520 7827030 64 72 8 0.03 -

4m composite samples, aqua regia digestion, Au by AAS analysis, Cu by ICPAES analysis. Azimuth 360°, dip – 60° unless otherwise marked. *Azimuth 090°, dip – 60°. nsi – no significant intersection.

==> picture [454 x 241] intentionally omitted <==

Figure 2

Bluebird Gravity Image Showing Copper Geochemistry and Drill Intercepts

• Page 4 -

DIRECTORS’ REPORT

==> picture [199 x 58] intentionally omitted <==

Drill hole BBRC-3 tested down-dip from an intersection of 8m @ 0.18% Cu and 0.44g/t Au from 72m in hole TBRB-744. BBRC-3 is situated 120m east of BBRC-2 and in the centre of a pronounced gravity high within the Bluebird gravity ridge. The hole intersected 10m of copperanomalous hematite alteration from 64m. Down-hole EM surveys in BBRC-2 and BBRC-3 did not detect any significant conductors, however this may be due to deep weathering and/or a disseminated sulphide mineralisation style not detected by EM methods.

Drill hole BBRC-1 tested a ground EM anomaly on the gravity ridge and intersected weathered siltstones but did not intersect mineralisation. A down-hole EM survey did not identify any off-hole conductors indicative of a near miss. The ground EM anomaly may have been the result of super paramagnetic effects caused by near surface ion oxides.

The drilling has confirmed the presence of a mineralised ironstone associated with a 600m-long geochemical anomaly (open to the east) associated with a larger gravity ridge, as shown in Figure 2. The gravity ridge extends to the west of the drilled area however it is not currently accessible because of an exclusion zone around an aboriginal site. The copper anomalism, hematite ironstone and talc-chlorite alteration are all favourable indicators of Tennant Creek-style coppergold mineralisation within this 1.6km-long gravity ridge target.

TIBOOBURRA (Meteoric 51%)

Following a review of this project, Meteoric decided to divest its 51% interest in three exploration licences covering parts of the Tibooburra gold field 300km north of Broken Hill, NSW. Discussions with interested parties are currently in progress.

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 as indicated from Meteoric’s limited drilling to date. Meteoric is seeking a partner to assist in the evaluation of these iron formations.

ROBINSON RANGE (Meteoric 100%)

Meteoric is seeking expressions of interest for the purchase of this project in the Mid West iron ore province, where sampling has indicated ore-grade hematite-goethite outcrops of Proterozoic banded iron formations.

WILTHORPE (Meteoric 90%)

Meteoric is seeking expressions of interest for the purchase of this 61,000oz gold resource at Harrods Central and Harrods South.

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

Meteoric holds 500sq km of tenements in the unexplored West Arunta region of WA covering numerous discrete circular aeromagnetic anomalies interpreted to reflect a possible kimberlite or lamproite pipe field. During the period Meteoric amended its agreement with diamond explorer GeoCrystal Ltd. The requirement for GeoCrystal to list on ASX prior to 21 December 2012 has been replaced with a requirement for GeoCrystal to complete adequate fund raising to cover the first phase of exploration drilling, by 1 February 2013.

GOLDEN VALLEY (Meteoric 90%)

Previous RC drilling by Meteoric on the Rutherford’s Find prospect intersected gold mineralisation over a 250m strike length with a best intersection of 4m @ 10.1g/t Au from 71m. Meteoric is seeking expressions of interest for the purchase of this gold project.

• Page 5 -

DIRECTORS’ REPORT

==> picture [199 x 58] intentionally omitted <==

UNALY HILL SOUTH (Meteoric 100%)

Black Ridge Mining withdrew from this vanadium farmin agreement near Windimurra. The exploration licence covers a 2km strike length of the Atley Igneous Complex, a layered mafic intrusion containing vanadium-bearing magnetic horizons. The tenement also covers a 4km strike length of the Youanmi Shear Zone which has demonstrated gold potential evident from historical wide-spaced drilling. Meteoric is currently reviewing the gold potential of this tenement.

WARREGO (Meteoric 100%, diluting)

Joint venturer Sipa Resources is currently reviewing the results of an aeromagnetic and radiometric survey completed on Meteoric’s tenements near the old Warrego copper-gold mine near Tennant Creek, NT.

CORTEGANA (Meteoric 100%)

During the period Meteoric lodged an application and supporting documentation for a 65sq km Investigation Permit over crystalline, coarse flake crystalline graphite occurrences in the Aracena Metamorphic Belt, Huelva province in SW Spain. Several stratabound graphite occurrences and former small mines occur over an 11km strike length within a sequence of high grade metamorphic rocks near the small town of Corteqana. No modern exploration has been carried out in this dormant mining area. Meteoric anticipates that airborne EM techniques should be highly effective in identifying priority target areas for high-grade graphite.

The information in this report that relates to exploration 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

INDEPENDENCE DECLARATION BY AUDITOR

The lead auditor’s independence declaration under section 307C of the Corporations Act 2001 is set out on page 7 for the half-year ended 31 December 2012.

This report has been signed in accordance with a resolution of directors.

For and on behalf of the Directors

==> picture [167 x 34] intentionally omitted <==

Graeme Clatworthy Executive Director 14 March 2013

• Page 6 -

==> picture [513 x 103] intentionally omitted <==

AUDITOR’S INDEPENDENCE DECLARATION

To those charged with governance of Meteoric Resources NL

As auditor for the review of Meteoric Resources NL for the half-year ended 31 December 2012, I declare that, to the best of my knowledge and belief, there have been:

• a) No contraventions of the independence requirements of the Corporations Act 2001 in relation to the review; and

• b) No contraventions of any applicable code of professional conduct in relation to the review.

==> picture [122 x 21] intentionally omitted <==

Somes Cooke

==> picture [138 x 16] intentionally omitted <==

Nicholas Hollens

Perth 14 March 2013

Liability Limited by a Scheme approved under Professional Standards Legislation

• Page 7 -

STATEMENT OF COMPREHENSIVE INCOME FOR THE HALF-YEAR ENDED 31 DECEMBER 2012

==> picture [199 x 58] intentionally omitted <==

Notes Revenue: Interest income Profit on sale of plant, equipment Expenses: Depreciation expense Exploration and tenement expenses Share based payments expense Other expenses (Loss) before income tax expense Income tax expense (Loss) from continuing operations Other comprehensive income: Changes in the fair value of available-for-sale financial assets 3 Other comprehensive income for the period, net of tax Total Comprehensive income for the period attributable to members of the Company Basic (loss) per share (cents per share) Diluted (loss) per share (cents per share)	Half-Year Ended 31 Dec 2012 ($) 19,069 5,300 (5,231) (300,393) - (202,997) (484,252) - (484,252) (1,536) (1,536) (485,788) (0.5689) (0.5689)	Half-Year Ended 31 Dec 2011 ($) 35,885 - (6,716) (387,096) (150,960) (189,384)
		(698,271) -
		(698,271)
		(1,455) (1,455)
		(699,726)
		(0.9432) (0.9432)

The accompanying notes form part of these financial statements.

• Page 8 -

STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2012

==> picture [199 x 58] intentionally omitted <==

Notes Current Assets Cash and cash equivalents Trade and other receivables Other assets Total Current Assets Non-Current Assets Property, plant and equipment Other financial assets 3 Total Non-Current Assets TOTAL ASSETS Current Liabilities Trade and other payables Provisions Total Current Liabilities TOTAL LIABILITIES NET ASSETS Equity Contributed equity 4 Reserves 4 Accumulated losses TOTAL EQUITY	31 Dec 2012 ($) 599,710 63,234 5,703 668,647 23,895 45,998 69,893 738,540 86,865 1,345 88,210 88,210 650,330 11,008,238 241,260 (10,599,168) 650,330	30 June 2012 ($) 1,168,935 17,541 3,511
		1,189,987
		46,626 42,796
		89,422
		1,279,409
		141,946 1,345
		143,291
		143,291
		1,136,118
		11,008,238 241,260 (10,113,380)
		1,136,118

The accompanying notes form part of these financial statements.

• Page 9 -

STATEMENT OF CHANGES IN EQUITY FOR THE HALF-YEAR ENDED 31 DECEMBER 2012

==> picture [199 x 57] intentionally omitted <==

	Contributed Equity (Net of Costs) ($)	Available for Sale Financial Assets Reserve ($)	Employee Benefits Reserve ($)	Accumulated Losses ($)	Total ($)
Balance at 1.7.2011	10,321,656	3,273	625,020	(9,364,092)	1,585,857
Operating (loss) for the period	-	-	-	(698,271)	(698,271)
Other comprehensive income	-	(1,455)	-	-	(1,455)
Share based payments expense	-	-	150,960	-	150,960
Expiry of unexercised director options	-	-	(534,720)	534,720	-
Balance at 31.12.2011	10,321,656	1,818	241,260	(9,527,643)	1,037,091
Balance at 1.7.2012	11,008,238	-	241,260	(10,113,380)	1,136,118
Operating (loss) for the period	-	-	-	(484,252)	(484,252)
Other comprehensive income	-	-	-	(1,536)	(1,536)
Balance at 31.12.2012	11,008,238	-	241,260	(10,599,168)	650,330

The accompanying notes form part of these financial statements.

• Page 10 -

STATEMENT OF CASH FLOWS FOR THE HALF-YEAR ENDED 31 DECEMBER 2012

==> picture [199 x 58] intentionally omitted <==

CASH FLOWS FROM OPERATING ACTIVITIES Cash payments to suppliers and contractors Interest received Net cash (used in) operating activities CASH FLOWS FROM INVESTING ACTIVITIES Sale of plant and equipment Purchase of plant and equipment Payments for exploration and evaluation Purchase of new prospects Payment of security deposits Net cash (used in) investing activities Net (decrease) in cash held Cash and cash equivalents at the beginning of the financial period Cash and cash equivalents at the end of the financial period The accompanying notes form part of these financial statements.	Half-Year Ended 31 Dec 2012 ($) (314,994) 19,069 (295,925) 44,800 (22,000) (251,562) (39,799) (4,739) (273,300) (569,225) 1,168,935 599,710	Half-Year Ended 31 Dec 2011 ($) (261,501) 53,872
		(207,629)
		- - (415,384) - -
		(415,384)
		(623,013) 1,568,233
		945,220

• Page 11 -

NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF-YEAR ENDED 31 DECEMBER 2012

==> picture [199 x 57] intentionally omitted <==

NOTE 1 BASIS OF PREPARATION AND ACCOUNTING POLICIES

Basis of Preparation

These general purpose financial statements for the interim half-year reporting period ended 31 December 2012 have been prepared in accordance with the requirements of the Corporations Act 2001 and Australian Accounting Standard 134: Interim Financial Reporting .

These financial statements were approved by the Board of Directors on the date of the Directors Declaration.

This interim financial report is intended to provide users with an update on the latest annual financial statements of the Company. As such, it does not contain information that represents relatively insignificant changes occurring during the half-year. It is therefore recommended that this financial report be read in conjunction with the annual financial statements for the year ended 30 June 2012, together with any public announcements made by the Company during the half-year in accordance with continuous disclosure requirements arising under the Corporations Act 2001.

These financial statements have been prepared on an accruals and historical cost basis, except where indicated.

These financial statements have been prepared on the going concern basis that contemplates normal business activities and the realisation of assets and extinguishment of liabilities in the ordinary course of business.

Going Concern

The directors have prepared the financial statements of the Company on a going concern basis. In arriving at this position, the directors have considered the following pertinent matters:

• (a) cash on hand at the date of this report is approximately $599,710;

• (b) current cash resources are considered adequate to fund the entity’s immediate operating and exploration activities however, given the state of the equity markets, the rate of expenditure on exploration as a whole has been reduced; and

• (c) the Company has the ability to raise additional funds by the issue of additional shares or the sale of assets if a high level of exploration activity is to be undertaken.

Accounting Policies

The same accounting policies and methods of computation have been followed in this interim financial report as were applied in the most recent annual financial statements.

The Company has adopted all of the new, revised or amending Accounting Standards and Interpretations issued by the Australian Accounting Standards Board that are mandatory for the current reporting period. The adoption of these Accounting standards and Interpretations did not have any significant impact on the financial performance or position of the Company.

Any new, revised or amending Accounting Standards of Interpretations that are not yet mandatory have not been adopted early.

NOTE 2 OPERATING SEGMENTS

Segment Information

Identification of reportable segments

The Company has identified that it operates in only one segment based on the internal reports that are reviewed and used by the board of directors (chief operating decision makers) in assessing performance and determining the allocation of resources. The Company's principal activity is mineral exploration.

• Page 12 -

NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF-YEAR ENDED 31 DECEMBER 2012

==> picture [199 x 57] intentionally omitted <==

Revenue and assets by geographical region

The Company's revenue is received from sources and assets located wholly within Australia. Major customers

Due to the nature of its current operations, the Company does not provide products and services.

NOTE 3 OTHER FINANCIAL ASSETS Available-for-sale financial assets Balance at beginning of period Increase in security deposits Changes in the fair value during the period Closing balance NOTE 4 EQUITY Contributed Equity - Ordinary Shares At the beginning of the period Closing balance Contributed Equity - Contributing Shares – Partly-paid At the beginning of the period Closing balance Total Contributed Equity Reserves Employee benefit reserve Closing balance Options The Company had the following options over un-issued fully paid ordinary shares at the end of the period: Options exercisable at $0.2249 on or before 23.12.2014 to acquire fully paid ordinary shares Options exercisable at $0.2370 on or before 21.12.2015 to acquire fully paid ordinary shares Options exercisable at $0.0915 on or before 27.12.2016 to acquire fully paid ordinary shares Total Options	Half-Year Ended 31 Dec 2012 ($) 42,796 4,738 (1,536) 45,998 Number 85,113,867 85,113,867 27,504,727 27,504,727 2,580,000 230,000 2,550,000 5,360,000	Half-Year Ended 31 Dec 2011 ($) 46,905 (1,455)
		45,450
		$
		10,938,530
		10,938,530
		69,708
		69,708
		11,008,238
		241,260
		241,260

• Page 13 -

NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF-YEAR ENDED 31 DECEMBER 2012

==> picture [199 x 57] intentionally omitted <==

NOTE 5 TENEMENT EXPENDITURE COMMITMENTS

The Company has entered into certain obligations to perform minimum exploration work on tenements held or joint ventured into. These obligations vary from time to time in accordance with contracts signed. Tenement rentals and minimum expenditure obligations which may be varied or deferred on application are expected to be met in the normal course of business.

The minimum statutory expenditure requirements on the granted tenements for the next twelve months amounts to $704,750. Of this amount, $303,250 is expected to be met by JV participants as a result of various joint ventures. The tenements are located in Western Australia, New South Wales and Northern Territory and are subject to legislative requirements with respect to the processes for application, grant, conversion and renewal. The tenements are also subject to the payment of annual rent and the meeting of minimum annual expenditure commitments. There is no guarantee that any applications, conversions or renewals for the Company’s tenements will be granted. The inability of the Company to meet rent and expenditure requirements may adversely affect the standing of its tenements.

NOTE 6 EVENTS SUBSEQUENT TO REPORTING DATE

There have been no matters or circumstances that have arisen since 31 December 2012 which have significantly affected or may significantly affect:

• (a) the Company’s operations in future years; or

• (b) the results of those operations in future years; or

• (c) the Company’s state of affairs in future years.

NOTE 7 CONTINGENT LIABILITIES

Native Title

The Company’s activities are subject to the Native Title Act and Aboriginal heritage legislation.

The Native Title Act recognises the title rights of indigenous Australians. State and Commonwealth native title legislation regulates the recognition, application and protection of native title. Native title may affect the status, renewal and conversion of existing tenements and the granting of new tenements. Indigenous land use agreements, including terms of compensation, heritage survey and protection agreements or other agreement types may need to be negotiated with affected parties.

The Native Title Act prescribes procedures applicable to the grant of tenements which may apply even in the case of, for instance, a granted exploration licence being “converted” to, say, a mining lease. Compensation may become payable in respect of any impact which the grant of any tenements or other activities have on native title. A tenement holder may be liable for the payment of compensation for the affect of mining and exploration activities on any native title rights and interests that exist in the area covered by a tenement. Compensation may be payable in forms other than money, including the transfer of property and the provision of goods and services.

It is not currently possible to assess whether compensation will be payable by the Company to native title holders in relation to any of the tenements but such compensation could be significant.

There may be sites and objects of significance to indigenous Australians located on the land relating to the Company’s tenements. State and Commonwealth Aboriginal heritage legislation aims to preserve and protect these sites and objects from use in a manner inconsistent with Aboriginal tradition. The Company proposes carrying out ‘clearance surveys’ if it considers this to be appropriate before conducting any exploration work that would disturb the surface of the land. The Company’s tenements may contain some such sites or objects of significance, which would need to be avoided or cause delays. It is possible that areas containing mineralisation or an

• Page 14 -

NOTES TO THE FINANCIAL STATEMENTS FOR THE HALF-YEAR ENDED 31 DECEMBER 2012

==> picture [199 x 57] intentionally omitted <==

economic resource may also contain sacred sites, in which case exploitation thereof may be entirely frustrated. Access agreements will need to be negotiated with affected parties.

Native title, Aboriginal heritage or other indigenous matters are matters of substantial risk (giving rise to the threat that certain tenements may not be granted, access to certain tenements may be denied or delayed in addition to potentially significant cost exposure in respect of things such as negotiations, surveys, incentive payments and compensation to name but a few) as the legislative frame works provide torturous and frequently uncertain routes to the endeavour by both stakeholders (that is explorers/miners and indigenous peoples) to attain certainty.

It is not possible to quantify the financial or other impact native title and Aboriginal heritage will have upon the Company as, amongst other things, the processes involved with:

• (a) identifying all and only the indigenous peoples with a relevant interest;

• (b) registering an indigenous land use agreement;

• (c) obtaining access to land without infringing the provisions of the Aboriginal Heritage Act;

are open ended, can involve substantial delay and cost and there can be no certainty as to the outcome with it being possible for projects to be entirely frustrated.

This could be the case, for instance, even in circumstances where:

• (a) a native title party consents to the grant of an exploration licence and assists the exploration endeavour thereon (and the discovery of an otherwise economic deposit);

• (b) the Company, in order to exploit that discovery, applies for a mining lease (or other required approval, consent, authority etc.) but such grant, approval, consent or authority is not forthcoming by reason of an objection by the same or another native title party.

Freehold Access

The interests of holders of freehold land encroached by tenements are given special recognition by the Mining Act (WA). As a general proposition, a tenement holder must obtain the consent of the owner of freehold before conducting operations on the freehold land. There can be no assurance that the Company will secure rights to access those portions of the tenements encroaching freehold land either at all or for all purposes but, importantly, the grant of freehold extinguished native title so wherever the tenements encroach freehold the Company is in the position of not having to abide by the Native Title Act albeit aboriginal heritage matters will still be of concern.

• Page 15 -

DIRECTORS' DECLARATION

==> picture [199 x 57] intentionally omitted <==

The directors of the Company declare that:

1. the accompanying financial statements and notes:

2. (a) comply with Accounting Standard AASB 134 : Interim Financial Reporting and the Corporations Regulations 2001 ; and

3. (b) give a true and fair view of the financial position of the Company as at 31 December 2012 and its performance for the half-year ended on that date.

4. in the directors’ opinion there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable.

This declaration is made in accordance with a resolution of the Board of Directors:

==> picture [167 x 35] intentionally omitted <==

Signed at Perth:

Graeme Clatworthy Executive Director

Dated this 14[th] day of March 2013

• Page 16 -

==> picture [513 x 103] intentionally omitted <==

Independent Auditor’s Review Report

To the members of Meteoric Resources NL

Report on the Half-year Financial Report

We have reviewed the accompanying half-year financial report of Meteoric Resources NL, which comprises the statement of financial position as at 31 December 2012, the statement of comprehensive income, statement of changes in equity and statement of cash flows for the half-year ended on that date, notes comprising a summary of significant accounting policies and other explanatory information, and the directors’ declaration.

Directors’ Responsibility for the Half-year Financial Report

The directors of Meteoric Resources NL are responsible for the preparation of the half-year financial report that gives a true and fair view in accordance with Australian Accounting Standards (including Australian Accounting Interpretations) and the Corporations Act 2001 and for such internal control as the directors determine is necessary to enable the preparation of the half-year financial report that is free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express a conclusion on the half-year financial report based on our review. We conducted our review in accordance with Auditing Standard on Review Engagements ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity , in order to state whether, on the basis of the procedures described, we have become aware of any matter that makes us believe that the financial report is not in accordance with the Corporations Act 2001 including: giving a true and fair view of Meteoric Resources NL's financial position as at 31 December 2012 and its performance for the halfyear ended on that date; and complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001 . As the auditor of Meteoric Resources NL, ASRE 2410 requires that we comply with the ethical requirements relevant to the audit of the annual financial report.

A review of a half-year financial report consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Independence

In conducting our review, we have complied with the independence requirements of the Corporations Act 2001 .

• Page 17 -

Conclusion

Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the half-year financial report of Meteoric Resources NL is not in accordance with the Corporations Act 2001 including:

• (a) giving a true and fair view of Meteoric Resources NL’s financial position as at 31 December 2012 and of its performance for the half-year ended on that date; and

• (b) complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001 .

==> picture [121 x 22] intentionally omitted <==

Somes Cooke

==> picture [137 x 16] intentionally omitted <==

Nicholas Hollens

14 March 2013

Perth

Western Australia

• Page 18 -