METEORIC RESOURCES NL — Interim / Quarterly Report 2014

Apr 29, 2014

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QUARTERLY REPORT for the Quarter Ended 31 March 2014

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Meteoric Resources NL ABN 64 107 985 651

HIGHLIGHTS

ASX Codes: MEI and MEICA

Webb:

• 10 kimberlite bodies discovered to date from drilling

• of 16 aeromagnetic targets.

22 Delhi Street West Perth WA 6005

T +61 8 9485 2836  4 microdiamonds identified in wide-spaced scout F +61 8 9321 6571 E info@meteoric.com.au loam sampling, one in each of 4 loam samples out of a PO Box 963 total of 67 samples taken across the Webb kimberlite field

West Perth WA 6872 and 1 microdiamond found in an aircore drill sample over a magnetic kimberlite target.

Issued Capital : Shares - Quoted: 113,253,682 fully paid shares 27,504,727 contributing shares

• Diamond indicator minerals identified in 30 of the 67

• loam samples, outlining a 20km-long anomaly coincident with numerous aeromagnetic targets reflecting potential kimberlite pipes.

Options - Unquoted:  A detailed 8,000 line-km aeromagnetic survey and 2,580,000 options exercisable at $0.2249 infill loam sampling being planned for May/June, to be

by 23.12.2014 followed by a 6,000m RC drilling programme to test priority 230,000 options exercisable at $0.2370 kimberlite targets. by 21.12.2015 2,550,000 options Warrego North: exercisable at $0.0915

by 27.12.2016  Encouraging preliminary results from modelling of

5,000,000 options ground magnetic data from the Parakeet copper-gold exercisable at $0.045 by 31.1.2017 target near Tennant Creek.

Directors: Michael Robson Non-Executive Chairman

Barkly:

 Preparations in hand to drill the Bluebird copper-gold prospect also near Tennant Creek.

Graeme Clatworthy Executive Director George Sakalidis Non-Executive Director WEBB (Meteoric 49% and right to acquire 44% of E80/4506 - subject to Neville Bassett farmout) Non-Executive Director Peter Thomas Non-Executive Director As previously announced (MEI ASX release of 6 February 2014), processing of loam samples taken in late 2013 has identified a

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microdiamond in each of four loam samples and a microdiamond in one of two drill samples processed from the Webb kimberlite field, see Figure 1. Diamond indicator minerals have been identified in 30 out of 67 loam samples taken to date. The microdiamonds and diamond indicator minerals contained in the loam samples outline a large, 20km-long anomaly some 3-5km wide, open to the NE, coincident with numerous aeromagnetic targets interpreted to reflect kimberlite pipes, as shown in Figure 2.

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Figure 1 Webb Kimberlite Field, Aeromagnetic Image

One loam sample which contained a microdiamond is situated in the eastern part of the project area close to drill hole W13AC011 on Target KJ25, which also recorded a microdiamond in a drill sample taken from overburden sediment overlying a kimberlite intersection.

Three of the five microdiamonds that were recovered show the characteristic habits of diamonds derived from kimberlite, while the remaining two microdiamonds are fragments. Details of the sampling techniques and exploration results (Section 1 and Section 2 of the JORC code, 2012 edition - Table 1) are shown in Appendix 2 of the MEI ASX release of 6 February 2014. Other information on previously released test work on the kimberlites can be viewed in MEI ASX release of 1 August 2013.

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Figure 2 Loam Sampling and Drilling Results

During the quarter geochemical and heavy mineral analyses were completed on the remaining weathered samples from the 23-hole drill programme carried out in late 2013. The results, which included geochemical responses consistent with kimberlite as well as the recovery of kimberlite indicator minerals such as pyrope garnet, have confirmed 10 kimberlite bodies from the drilling of 16 aeromagnetic targets, as shown in Figure 2. No microdiamonds were identified from the drill samples processed during the quarter. It appears that those drill holes on magnetic targets that did not intersect kimberlite may not have been drilled deep enough, consequently it is planned to re-test these targets as part of the next drilling programme.

The occurrence of microdiamonds and diamond indicator minerals spatially coincident with more than 80 magnetic targets, 10 of which are known to be kimberlites and the majority of which remain untested, provides encouragement to accelerate the pace of exploration in order to assess the diamond potential of this large virgin kimberlite field.

A detailed high resolution aeromagnetic survey comprising 8,000 line-km at 100m line spacing is currently being planned, together with infill loam sampling, in order to identify and prioritise targets for drill testing. The airborne magnetic survey will cover those parts of the project tenements not already covered by detailed aeromagnetic data to obtain tighter definition of the existing 80-plus aeromagnetic targets. The infill loam sampling will comprise 150 samples aiming to further define surface indicator mineral anomalies as well as highlighting surface microdiamond occurrences. These surveys are anticipated to be carried out in May/June. Following completion of this work, a programme of up to 6,000m of reverse circulation drilling is then planned to test the priority targets. The drilling programme is anticipated to commence mid-year with the aim of testing up to an additional 50 kimberlite targets

GeoCrystal Ltd has earned 51% of Meteoric’s interest in the project, comprising Meteoric’s wholly-owned tenements and one tenement (E80/4506) in which Meteoric has the right to earn or acquire a 90% interest, by expenditure of $0.5M and completion of 1,000m of drilling. GeoCrystal may then elect to sole fund a further $1.5M within two years to increase its interest to 70% of Meteoric’s interest. After the end of the quarter

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Chalice Gold Mines (ASX:CHN) announced it had increased its holding in GeoCrystal to 24% of the issued and outstanding shares of that company as part of a funding package (CHN ASX release of 14 April 2014). Consequently, GeoCrystal has confirmed its election to sole fund the next $1.5M of joint venture expenditure.

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) 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-goldbismuth mineralisation elsewhere in the mineral field. The target areas are situated north and northwest of the Warrego mine as shown in Figure 3.

During the quarter ground magnetic, gravity and induced polarisation (IP) survey data over the Parakeet prospect were processed with the results currently being interpreted. The survey data is being processed with improved software compared to that available when the surveys were carried out in 2004. The processing includes 3D forward and inversion modelling of the ground magnetics and gravity data as well as 2D modelling of the IP.

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Figure 3 Warrego North Aeromagnetic Targets

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The Parakeet prospect is associated with two strong magnetic anomalies comparable in intensity with magnetic anomalies associated with copper-gold ore bodies elsewhere in the Tennant Creek mineral field. Previous modelling of aeromagnetic data estimated the depth to the top of the magnetic sources to be about 300m below surface, however preliminary results of the recent work using higher resolution ground magnetic data, indicate the tops of the magnetic sources to be about 200m below surface.

Previous drill testing of these magnetic targets intersected magnetite, hematite and sulphide alteration with anomalous copper values. It is interpreted that the drilling passed over the top of the newly modelled positions of the magnetic bodies. Supporting evidence for the presence of an alteration system at Parakeet comes from modelling of the IP data which indicates a weak to moderate chargeability anomaly at a depth of about 150m below surface. Further modelling and interpretation of this data is being finalised. BARKLY (Meteoric mostly 100% - subject to farmout) Preparations are in hand to carry out a reverse circulation drilling programme at Bluebird in the Tennant Creek mineral field. Bluebird comprises a 1.6km-long gravity ridge open to the east where shallow geochemical drilling by Meteoric identified a 600m-long copper anomaly, also 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. Drilling is anticipated to commence in the next quarter.

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. During the quarter Meteoric carried out a detailed 140 line-km ground magnetic survey over both goethite- hematite and magnetite targets. The survey identified several areas of interpreted magnetite destruction within the BIF sequences, with potential for goethite-hematite enrichments. Ground follow up identified three areas totalling some 1.5 km in strike length as attractive DSO-grade goethite-hematite drill targets.

In addition, the ground magnetic survey identified at least two parallel magnetite-rich BIF horizons which can be traced on the surface for 800m along strike. A surface sample of this magnetite-rich BIF grades 69.2%Fe, 0.4% SiO2, 0.1% Al2O3 and 0.03% P indicating potential for high quality DSO-grade magnetite. The true thickness of the magnetite-rick horizons is difficult to ascertain because of scree cover, but appears to range from 1-3m.

Follow up sampling was also carried out over two areas where historical sampling indicated potential for gold mineralisation and one area with nickel sulphide potential. Analytical results of this sampling are awaited.

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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). No exploration was carried out during the quarter.

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. The permit has yet to be granted.

UNALY HILL SOUTH

Following a review of exploration results this tenement was surrendered.

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. Tom Reddicliffe, a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Tom Reddicliffe is a self-employed consultant to the Meteoric Resources NL – GeoCrystal Limited joint venture and a director of GeoCrystal Limited. Tom Reddicliffe 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’. Tom Reddicliffe consents to the inclusion in this report of his information in the form and context in which it appears.

The information in this report that relates to other 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 31 MARCH 2014

Tenement	Status	Project	Ownership (%)	Change in Quarter
E16/0372	Granted	COORARA	100%
E52/2067	Granted	WILTHORPE	90%
E57/0760	Granted	UNALY HILL SOUTH	100%	Surrendered
E80/4235	Granted	ELIZABETH HILLS(Webb JV)	49%	Diluted from 100%
E80/4407	Granted	ANGAS HILL (Webb JV)	49%	Diluted from 100%
E80/4506	Granted	WEBB DIAMONDS(Webb JV)	Rights to 44%.	Diluted from right to 90%
E80/4737	Application	WEBB DIAMONDS(Webb JV)	49%	Diluted from 100%
EL30057	Application	WEBB DIAMONDS(Webb JV)	49%	Diluted from 100%
E80/4815	Application	LAKE MACKAY(Webb JV)	49%	Diluted from 100%
E80/4816	Application	LAKE MACKAY(Webb JV)	49%	Diluted from 100%
E80/4818	Application	LAKE MACKAY(Webb JV)	49%	Diluted from 100%
E80/4819	Application	LAKE MACKAY(Webb JV)	49%	Diluted from 100%
E80/4863	Application	KIWIRKURRA	49%	Application
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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