METEORIC RESOURCES NL — Interim / Quarterly Report 2014

Jul 27, 2014

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QUARTERLY REPORT for the Quarter Ended 30 June 2014

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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

HIGHLIGHTS

Barkly:

 Ounce grade gold with high grade copper and bismuth intersected at Bluebird, including BBDD-2: 20m @ 8.17g/t gold, 0.61% copper and 0.22% bismuth from 157m and BBRC-5: 4m @ 8.99% copper and 1.06g/t gold from 74m.

Issued Capital : Shares - Quoted: 113,253,682 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 5,000,000 options exercisable at $0.045 by 31.1.2017

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

Warrego North:

 Encouraging results from further modelling of geophysical data at Parakeet, indicating that previous drilling has not tested the ironstone targets and appears to have intersected what could be the copper halo over a large copper-gold system at depth.

Webb:

 A detailed 12,493 line-km aeromagnetic survey completed over the whole of the Webb kimberlite field where 10 kimberlite pipes have so far been identified.

 The number of aeromagnetic targets greatly increased from 80 to 280 as a result of the recent high resolution survey.

 142 infill loam samples from the kimberlite field (total 14 tonnes) currently being processed for indicator minerals and microdiamonds.  A 5,000-6,000m RC drilling programme planned to start in August to test priority kimberlite targets.

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BARKLY (Meteoric 100%, one sub block 70% - subject to farmout)

Joint Venture partner Blaze International (ASX:BLZ) completed four RC drill holes and two diamond drill holes at Bluebird. Bluebird comprises a 1.6km-long gravity ridge open along strike where shallow geochemical drilling by Meteoric identified a 600m-long copper anomaly, open to the east. Previously reported follow-up drilling confirmed Tennant Creek-style copper-gold mineralisation associated with ironstone. Under the terms of a farmin agreement, Blaze International may earn up to an 80% interest by sole funding expenditure to commencement of a bankable feasibility study.

All six drill holes were reported to intersect copper-gold-bismuth mineralisation with some results received after the end of the quarter. High grade mineralisation was intersected in two holes:

• BBRC-5: 25m @ 1.9% Cu and 0.3g/t Au from 62m (including 4m @ 8.99% Cu and 1.06g/t Au from 74m).

• BBDD-2: 20m @ 8.17g/t Au, 0.61% Cu and 0.22% Bi from 157m (including 4m @ 37.9g/t Au, 0.66% Cu and 0.80% Bi from 169m).

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Figure 1 Bluebird Cross Section 448400E, Looking West

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The mineralisation occurs on the footwall and hangingwall contacts of a chlorite-hematite breccia body, within a broad zone of lower grade mineralisation, as shown in Figure 1 (refer to the BLZ ASX releases of 17 June 2014 and 23 July 2014 for details including the JORC 2012 Table 1). The chlorite-hematite breccia is interpreted to be the result of alteration, associated with the Cu-Au-Bi mineralising event, of a pre-existing magnetite ironstone body. Based on drilling, the mineralisation is now traced to a depth of 150m vertical below surface and over a strike length of up to 120m, as shown in Figure 2. A summary of the drill hole intersections is shown in Table 1.

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Figure 2 Bluebird Long Section, Looking North

The mineralisation is similar to other highly profitable Tennant Creek mines such as Peko and Nobles Knob, both situated about 20km away. Significantly, the high grade gold intersection in BBDD-2 is the deepest hole drilled at Bluebird and indicates that the gold grade and mineralisation thickness appear to be increasing substantially with depth.

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Table 1 Drill Hole Intersection Summary

**Hole ID **	Length	**Collar Location GDA94 **	**Collar Location GDA94 **	**Collar Location GDA94 **	**Dip **	Azimuth	From m	To m	Cu Grade %	Au Grade g/t	Bi Grade %	Width m	Intersection Description
		East	North	RL
BBDD-1	129.2	**448400 **	7827075	328	-60	0	89	92.8	1.26	0.08	0.01	3.8	3.8m @ 1.26% Cu, 0.08g/t Au, 0.01% Bi
							107.2	114	0.45	0.08	0.01	6.8	6.8m @ 0.45% Cu, 0.08g/t Au, 0.01% Bi
BBDD-2	198	**448400 **	7827025	324	-60	0	135.5	140	1.35	0.22	0.03	4.5	4.5m @ 1.35% Cu, 0.22g/t Au, 0.03% Bi
							157	177	0.61	8.17	0.22	20	20m @ 8.17g/t Au, 0.61%Cu, 0.22% Bi
						includes	169	173	0.66	37.90	0.80	4	4m @ 37.90g/t Au, 0.66% Cu, 0.80% Bi
						and	171	172	0.94	62.30	1.11	1	1m @ 62.30g/t Au, 0.94% Cu, 1.11% Bi
BBRC-1	100	**448329 **	7827204	326	-60	90							Meteroric Resources Hole NSI
BBRC-2	137	**448400 **	7827050	323	-60	0	115	119	4.69			4	Meteroric Resources Hole 4m @ 4.69% Cu, 0.38g/t Au, 170g/t Bi
BBRC-3	155	**448519 **	7827033	323	-60	0							Meteroric Resources Hole NSI
BBRC-4	77	**448400 **	7827120	331	-60	0							Anomalous Zone 37-55m @ 213ppm Cu
BBRC-5	113	**448400 **	7827097	328	-60	0	62	87	1.89	0.27	0.03	25	25m @ 1.89% Cu, 0.27g/t Au, 0.03% Bi
						includes	66	68	2.98	0.42	0.12	2	2m @ 2.98% Cu, 0.42g/t, 0.12% Bi
						and	74	78	8.93	1.05	0.01	4	4m @ 8.93% Cu, 1.05g/t Au, 0.01% Bi
						includes	75	77	16.50	0.15	0.01	2	2m @ 16.50% Cu, 0.15g/t Au, 0.01% Bi
						and	75	76	24.20	0.21	0.01	1	1m @ 24.2% Cu, 0.21g/t Au, 0.01% Bi
						and	76	77	1.20	3.81	0.01	1	1m @ 3.81g/t Au, 1.20% Cu, 0.01% Bi
BBRC-6	203	**448440 **	7827030	328	-60		126	135	0.89	0.36	0.04	9	9m @ 0.89% Cu, 0.36g/t Au, 0.04% Bi
						includes	126	128	0.09	1.21	0.01	2	2m @ 1.21g/t Au, 0.09% Cu, 0.01% Bi
						and	128	130	2.50	0.13	0.06	2	2m @ 2.50% Cu, 0.13g/t Au, 0.06% Bi
							146	149	0.80	1.57	0.02	3	3m @ 1.57g/t Au, 0.80% Cu, 0.02% Bi
							154	160	0.05	0.56	0.03	6	6m @ 0.56g/t Au, 0.05% Cu, 0.03% Bi
BBRC-7	137	**448360 **	7827081	321	-60	0	87	90	0.38	0.69	0	3	3m @ 0.69g/t Au, 0.38% Cu
							100	105	0.29	0.06	0	5	5m@ 0.29% Cu, 0.06g/t Au

Copper cut-off grade 0.2%. Gold cut-off grade 0.2g/t. Maximum internal dilution 5m. Uncut.

WARREGO NORTH (Meteoric 100%)

Meteoric holds three granted exploration licences over magnetic anomalies near the old Warrego copper-gold mine (1.3M oz gold, 91,000t copper), the largest mine in the Tennant Creek mineral field. Previous exploration results have identified several large high magnetic susceptibility targets some with pronounced coincident gravity anomalies similar in character to quartz-magnetite-chlorite ironstones associated with high-grade copper-gold-bismuth mineralisation elsewhere in the mineral field. The target areas are situated north and northwest of the Warrego mine as shown in Figure 3. The largest of these targets is Parakeet, situated 15km NW of Warrego.

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Figure 3 Warrego North Aeromagnetic Targets

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Figure 4 Parakeet Gravity (top) and Ground Magnetic Anomaly (bottom)

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Showing Targets PKT1, PKT2 and PKT3

During the quarter Meteoric carried out further processing and interpretation of ground magnetic, gravity and induced polarisation (IP) data at Parakeet. The processing included 3D forward and inversion modelling of the ground magnetics and gravity data as well as 2D modelling of the IP.

Historical drilling to depths of up to 200m at Parakeet has demonstrated anomalous copper, gold and bismuth associated with ironstone alteration. The ground magnetic anomalies and associated gravity anomaly are shown in Figure 4, highlighting the two main targets at PKT1 and PKT2 and a third target at PKT3. All three targets have recorded historical drill intercepts with anomalous copper, gold or bismuth values.

3D inversion modelling of the ground magnetic data has identified a total of six bodies with magnetic susceptibility values greater than 0.4 SI units, characteristic of ironstone bodies at Tennant Creek. A perspective view of the modelled bodies interpreted to be ironstones is shown in Figure 5. Targets PKT1 and PKT2 are the largest of the bodies.

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Figure 5

Perspective View of the Parakeet Ground Magnetic 3D Inversion Model . The purple wireframes contain block model susceptibility values >0.4 SI units.

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Figure 6 Top: Plan Image of Second Derivative TMI. Bottom: Sections AB and CD through the 3D Magnetic Susceptibility Block Model

Significantly, modelling of the ground magnetics provides more control on the depth estimates of the modelled ironstone bodies compared to the previous modelling of aeromagnetic data. Figure 6 shows a plan image of a derivative of the total magnetic intensity with sections through the 3D magnetic susceptibility block model. Magnetic susceptibility greater than 0.4 SI units are shown in red and copper values greater than 100ppm are coloured red on the drill traces. Section A shows target PKT1 (right hand

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body) and PKT2 (larger left hand body). Section C shows what could be the SE extensions of target PKT2.

The sections clearly show that the previous drilling has not tested the major ironstone targets at PKT1 and PKT2 and appears to have intersected what could be the copper halo over a large copper-gold system at depth. The depth to the top of target PKT1 is estimated to be 170m and the depth to the top of target PKT2 is estimated to be 230m, significantly shallower than estimated by modelling of the aeromagnetic data.

Forward modelling (a method independent of inversion modelling) of the ground magnetic data also shows the presence of multiple pipe-like bodies, supporting the interpretation of the inversion modelling. In addition, modelling of down-hole magnetic data from drill hole WNRC01 at target PKT2 shows evidence of a strongly magnetic off-hole source. Modelling of the IP identified two chargeability anomalies which could be related to the PKT1 target situated some 80m to the east of the IP line. Modelling of the gravity data identified a gravity anomaly coincident with the PKT1 magnetic target.

Interpretation of aeromagnetic data indicates the presence of a strong NW-trending structure through Parakeet which appears to be a parallel structure to the Navigator Fault, a major structure associated with the Warrego deposit, indicating a favourable structural setting for the Parakeet mineralisation.

High grade Tennant Creek-style copper-gold deposits (e.g. Warrego 7Mt at 8g/t Au and 2% Cu) form very attractive, high value targets. Meteoric is most encouraged by the recent geophysical modelling which indicates potential for a large copper-gold system just below the previous drilling at Parakeet. These targets are conceptual at this stage and there has been insufficient exploration to estimate a mineral resource and it is uncertain whether further exploration will result in the estimation of a mineral resource. Meteoric is assessing drill testing of the PKT1 and PKT2 targets at initial depths of 300m either in its own right or with a partner.

WEBB (Meteoric 49% and right to acquire 44% of E80/4506 - subject to farmout)

A detailed, high resolution aeromagnetic survey has been completed over the main tenement block covering the Webb kimberlite field and over a tenement covering a separate target to the north east. The survey comprised 12,493 line-km at a 100m line spacing. Interpretation of this detailed dataset by a consulting geophysicist has increased the number of kimberlite targets in the Webb field from 80 to 280. The significant increase in the number of aeromagnetic targets is a result of the closer line spacing and higher resolution of the recent survey which reveals features not apparent in the previous surveys. Figure 7 shows the aeromagnetic targets and kimberlite pipes identified to date.

A distinct clustering of some of the numerous targets is evident and further interpretation of this detailed dataset is in progress in order to assess and prioritise targets for drilling.

A programme of infill loam sampling has also been completed, to follow up the encouraging results announced from the first pass survey (MEI ASX release 6 February 2014) when anomalous trends of indicator minerals, including microdiamonds, were identified. 142 loam samples (about 14 tonnes in total weight) have been taken in the recent programme and freighted to Perth for processing to test for indicator minerals and microdiamonds.

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Figure 7 Webb Kimberlite Field, Aeromagnetic Targets and Kimberlite Pipes

Planning of heritage surveys over the new targets is well advanced, following which a 5,000-6,000m RC drilling programme is anticipated to start in early August. The drilling strike rate to date has been high with 10 kimberlite bodies identified from drilling of 16 aeromagnetic targets. Drilling of 6 of these targets did not penetrate the cover rocks and they remain to be tested. The objective of the next phase of drilling will be to obtain unweathered samples from a spread of target clusters throughout the field and from priority targets identified from the recent aeromagnetic survey and loam sampling. These samples will then be tested for both micro and macro diamonds.

Joint venture partner GeoCrystal has earned a 51% interest in Meteoric’s interest in the tenements and elected to continue to sole fund exploration on the Webb kimberlite field discovery. Under the terms of the Webb Diamond Joint Venture, GeoCrystal may earn up to 70% of Meteoric’s interest in the JV tenements by sole funding the first $2 million of expenditure.

COORARA (Meteoric 100%)

Meteoric holds a 40 km strike length of banded iron formations (BIF) in the South Yilgarn iron province, within trucking distance of the multi-user Trans Australian Railway. The BIF sequences have demonstrated potential for both goethite-hematite and magnetite iron ores. Results of sampling of anomalous gold and nickel areas carried out in the previous quarter indicate gold mineralisation on a granite-greenstone contact, with rock sampling from an old gold digging returning grades of 1.9g/t Au and 28.1g/t Au in altered quartz veined granite. However sampling of nearby historical shallow RAB holes did not identify

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any significant mineralisation. Sampling of the nickel anomaly identified cherty ferruginous float containing up to 9,880ppm Ni, probably from a silica cap on an ultramafic unit, however no evidence of nickel sulphides was observed.

WILTHORPE (Meteoric 90%)

Meteoric holds a 90% interest in the Harrods Central and Harrods South where identified resources total 61,000oz of gold (refer MEI ASX March and September 2007 quarterly reports for details). Discussions are being held with an interested party regarding the possible trial mining of these resources. During the quarter a 90% interest in adjacent exploration licence E52/2627 was transferred to Meteoric pursuant to an agreement with Red Dog Prospecting Pty Ltd.

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.

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 Person Statement

The information in this report that relates to Exploration Results is based on information compiled or reviewed by Roger Thomson BSc (Hons), ARSM, a Competent Person, who is a Member of the Australian Institute of Geoscientists and the Australasian Institute of Mining and Metallurgy. Roger Thomson is the principal of Regor Consulting Pty Ltd, a consultant to Meteoric Resources. 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 2012 edition of the ‘Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Roger Thomson consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

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APPENDIX 1

TENEMENT HOLDINGS AT 30 JUNE 2014

Tenement	Status	Project	Ownership (%)	Change in Quarter
E16/0372	Granted	COORARA	100%
E52/2067	Granted	WILTHORPE	90%
E52/2627	Granted	WILTHORPE	90%	Acquired 90%
E80/4235	Granted	ELIZABETH HILLS(Webb JV)	49%
E80/4407	Granted	ANGAS HILL (Webb JV)	49%
E80/4506	Granted	WEBB DIAMONDS(Webb JV)	Rights to 44%.
E80/4737	Granted	WEBB DIAMONDS(Webb JV)	49%	Granted
EL30057	Application	WEBB DIAMONDS(Webb JV)	49%
E80/4815	Granted	LAKE MACKAY(Webb JV)	49%	Granted
E80/4816	Granted	LAKE MACKAY(Webb JV)	49%	Granted
E80/4818	Application	LAKE MACKAY(Webb JV)	49%
E80/4819	Application	LAKE MACKAY(Webb JV)	49%
E80/4863	Application	KIWIRKURRA	49%
EL23764	Granted	WARREGO NORTH	100%
EL24255	Granted	WARREGO NORTH	100%
EL24257	Application	WARREGO SOUTH	100%
EL24363	Granted	WARREGO NORTH	100%
EL28693	Application	WARREGO NORTH	100%
MLC217	Granted	PERSEVERANCE	70%
MLC218	Granted	PERSEVERANCE	70%
MLC219	Granted	PERSEVERANCE	70%
MLC220	Granted	PERSEVERANCE	70%
MLC221	Granted	PERSEVERANCE	70%
MLC222	Granted	PERSEVERANCE	70%
MLC223	Granted	PERSEVERANCE	70%
MLC224	Granted	PERSEVERANCE	70%
MLC57	Granted	PERSEVERANCE	70%
EL28620	Granted	BARKLY(Blaze JV)	Dilutingfrom 100%
H14913	Application	CORTEGANA - SPAIN	100%

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