METEORIC RESOURCES NL — Interim / Quarterly Report 2015

Oct 29, 2015

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OPERATIONS REPORT

FOR THE QUARTER ENDED 30 SEPTEMBER 2015

WEBB

METEORIC RESOURCES NL ABN 64 107 985 651

ASX Code: MEI Registered Office: 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: 129,268,395 fully paid shares

Options - Unquoted: 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 9,000,000 options exercisable at $0.012 by 9.9.2020

Directors: Neville Bassett Non-Executive Chairman Graeme Clatworthy Executive Director George Sakalidis Executive Technical Director

(Meteoric 25% and right to acquire 19% of E80/4506, diluting).

Highlights of exploration conducted during the quarter are as follows:

Highlights of exploration conducted during the quarter are as follows:	Highlights of exploration conducted during the quarter are as follows:	Highlights of exploration conducted during the quarter are as follows:
 8 microdiamonds identified in wide spaced reconnaissance follow-up
loam sampling totaling 153 samples.
 Combined with the results from the two previous	loam sampling
programs (ASX 6th February, 2014 and 6th October, 2014), there is now a total
19 microdiamonds recovered from surface loam samples.
 12 of the microdiamonds, which represent over half of the
microdiamonds recovered to date, form a cluster in the northern part of the
kimberlite field.
 The average size of the microdiamonds in the anomalous cluster is
greater than that for the microdiamonds found in other parts of the
kimberlite field.
 2 of the microdiamonds located in relative close proximity within the
microdiamond anomaly have a long dimension of 0.4mm.
 **Within the microdiamond cluster there are 27 **	**untested **	kimberlite
targets.

An infill loam sampling programme was completed within the Webb Diamond Project Area and results received. A total of 153 samples were collected with a combined total weight of approximately 15.5 tonnes. The primary aim of this programme was to further validate and delineate a significant surface microdiamond anomaly (refer to ASX release 23[rd] April, 2015) identified as a consequence of previous surface loam sampling programmes and to identify any potential diamondiferous kimberlite targets for drill testing. To date a total 293 loam samples have been collected from the project area.

A total 8 microdiamonds were recovered from the most recent loam sampling program bringing to 19 the total number of microdiamonds recovered from the three loam sampling programs undertaken on the project tenements. Over half of the microdiamonds recovered are located in the northern portion of the tenement block and are sufficiently spatially coherent to be interpreted as a surface microdiamond dispersion anomaly.

METEORIC RESOURCES NL – QUARTERLY REPORT – 30 SEPTEMBER 2015

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Figure 1 - Loam Sampling sites with microdiamond occurrences

While the significance of this microdiamond anomaly which encompasses an area of approximately 90km[2] is speculative, the company remains highly encouraged by the persistence of the anomaly in repeated loam sampling programs and the recent recovery of larger microdiamonds particularly 2 microdiamonds both with a long dimension of 0.4mm and both occurring in the same general area.

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Figure 2 - Priority Untested Kimberlite Targets

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METEORIC RESOURCES NL – QUARTERLY REPORT – 30 SEPTEMBER 2015

Additional Loam Sampling

A follow-up loam sampling programme has commenced and is focussed on the area comprising the surface microdiamond anomaly. This program will increase the sample density which is currently approximately 1 sample per 1 km[2] and aims to further delineate the surface distribution of the microdiamonds both in terms of occurrence and sizes.

Drill Testing of Additional Kimberlite Targets

Within the area encompassed by the microdiamond anomaly there remain 26 priority untested kimberlite targets which have been identified from the 150m line spaced aeromagnetic survey flown by the Webb JV partners in 2014(refer ASX 16[th] July, 2014). These targets are mostly situated within tenement E80/4815. It is anticipated that these targets will be drill tested in the first half 2016 after receipt of the results from the loam sampling program that is currently underway.

Comments

The difficulty relating the surface microdiamonds to any specific kimberlite target is a consequence of the 40m thick sandstone cover sediments which blankets the entire field and areas beyond. However other indicator minerals, namely chromite has been recovered at surface mostly without attendant microdiamonds and is confirmation that processes that enable recycling of indicator minerals from the underlying kimberlites to be redistributed at surface have occurred. This along with the clustering of the coarser microdiamond sizes and the microdiamond morphologies (refer ASX MEI 6[th] February, 2014) are evidence supportive of the view that the microdiamonds are sourced from one or more of the as yet untested kimberlite bodies within the field.

To date, 51 kimberlite bodies have been identified by drill testing of 64 of the kimberlite targets. There remain over 200 kimberlite targets which have not been drill tested within the kimberlite field.

BARKLY COPPER-GOLD PROJECT

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(Meteoric 30%, subject to farmout)

Blaze International Limited (BLZ) is in a Farm-In Joint Venture Agreement with Meteoric Resources NL (Barkly JV) over the highly prospective Barkly Copper-Gold project . The project is located around 30 km east of the town of Tennant Creek in the Northern Territory (Figure 3).

The Bluebird copper-gold prospect at the Barkly Project is emerging as a significant new discovery for BLZ. Drilling has identified a Tennant Creek-style copper-goldbismuth mineralised occurrence at Bluebird. Mineralisation is open to the east, west, and at depth.

Nine “Bluebird Lookalike” magnetic/gravity exploration targets have been identified within the Barkly JV exploration licence. The Company believes these targets have the potential to produce further new discoveries in the area.

Work Completed

Figure 3 - Location of the Barkly Cu-Au-Bi project

A high power DHTEM survey of BBDD0004 was completed during the Cu-Au-Bi project quarter. The data generated by the survey are currently being processed and interpreted. Several subtle electromagnetic responses were detected by the survey. These will be 3D modelled and targeted for future drilling programs. The copper sulphides at Bluebird are likely to be moderately conductive and relatively discontinuous, so even subtle responses could be quite significant.

A drillhole rehabilitation program was also completed during the quarter. All of the holes drilled by Blaze International at Bluebird have now been fully rehabilitated as per industry standard practice.

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METEORIC RESOURCES NL – QUARTERLY REPORT – 30 SEPTEMBER 2015

Detailed petrology work on the high grade mineralisation intersected by BBDD0002 was also completed. This work provided some clarity on the alteration assemblage and mineral associations at Bluebird, which will help prioritise future exploration programs and economic evaluations.

Field mapping and ground checking of exploration targets were also undertaken.

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Figure 4 - Long section of Bluebird, looking north showing copper equivalent (CuEQ%) x m** contours. Note the priority drill targets marked by dark grey hatching, and the two abandoned holes BBRC0012 and BBRC0013.

• **CuEQ grade is calculated by combining the metals of interest based on their prices. In this case Cu% + (Au ppm x 0.66) + (Bi% x 3.84) = CuEQ%. It is used as a visualisation tool only and is required at Bluebird due to the poly metallic and strongly zoned nature of the mineralisation. In this situation a CuEQ% provides a better picture of the overall geometry of the mineralisation than by using copper or gold grade alone. Metallurgical recoveries were not taken into account when calculating CuEQ%. CuEQ% x m is used for the contouring to give a spatial representation of total metal accumulation.

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METEORIC RESOURCES NL – QUARTERLY REPORT – 30 SEPTEMBER 2015

Phase III drilling is now scheduled for 2016, after the finish of the wet season and will aim to test the following:

1. The interpreted high grade gold position on the lower ironstone contact (see Figures 4, 5 and 6)

2. The extension of the primary copper-gold-bismuth mineralisation at depth (see hatched lower target area in Figure 4)

3. Test the lateral extents of the supergene enrichment zone (see the east and west hatched target areas in Figure 4)

4. Test the magnetic anomaly generated by the 3D magnetic probe survey completed on BBDD0004

5. Test the subtle off-hole conductors generated by the DHTEM survey of BBDD0004

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Figure 5 - Cross section at 448380mE, looking west. Note that diamond drilling of BBRC0012 was abandoned without any advancement beyond the end of the RC hole

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Figure 6 - Cross section at 448400mE, looking west. Note the hematite shales and chlorite hematite breccia in the footwall which are anomalous in copper

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Figure 7 - Cross section at 448360mE, looking west, showing recent drilling results. Note BBRC0013 diamond drilling was abandoned at 185m, after 6m of coring

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Figure 8 - Cross section at 448420mE, looking west. Note the apparent change in dip. BBRC0008 was successfully completed by diamond drilling, but with significant core loss on the lower ironstone contact

Other Targets Within The Barkly Project

Reprocessing of magnetic and gravity geophysical datasets earlier in the year allowed the Company to fingerprint the signature of the Bluebird host ironstone and identify other similar features within the Barkly Project area. A number of targets were generated and ranked based on coincident magnetic, gravity, and/or geochemical anomalies similar to Bluebird or other deposits in the Tennant Creek Mineral Field (TCMF).

Nine of the highest ranking targets were field checked and mapped during the quarter. Field observations were positive or neutral over all of the targets visited. This means that no targets were downgraded by the field observations.

In most cases the targets are obscured by soil cover. This is interpreted as a positive, particularly in the context of Bluebird where the ironstone and the mineralisation do not develop until at least 40m below surface. There is no expression of the Bluebird mineralisation at surface as the weathering profile appears to be strongly leached in the top 40m.

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METEORIC RESOURCES NL – QUARTERLY REPORT – 30 SEPTEMBER 2015

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Figure 9 - First vertical derivative ground magnetic image of the Barkly project showing remnant magnetic anomalies as white stars, high priority targets as labelled yellow stars, NE trending structural interpretation as black lines and the gravity ridge in light grey hatching.

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Figure 10 - Residual gravity image of the Barkly project showing remnant magnetic anomalies with white stars, high priority targets as labelled yellow stars, NE trending structural interpretation as black lines and the gravity ridge hatched in light grey.

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Figure 11 - Longitudinal projection of the Bluebird Trend looking north, showing successful drillhole pierce points in grey circles, labelled with significant intercepts where appropriate, and high priority targets in red stars. Bluebird mineralisation is shown in red. Note the proximity of Dillon and Red Parrot to significant historic intercepts.

W A R R E G O N O R T H

(Meteoric 100%)

Meteoric holds three granted exploration licences over magnetic anomalies near the old Warrego coppergold mine (production 1.3Mozs gold and 91,000t copper), the largest mine in the Tennant Creek mineral field. Previous exploration has 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 largest target is Parakeet, 15km NW of Warrego, where drilling has intersected anomalous copper-gold-bismuth values and ironstone alteration.

PERSEVERANCE

(Meteoric 68.43%, Emmerson Resources 31.57%)

Following grant of a permit to carry out geophysical surveys and drilling, Meteoric is continuing discussions regarding a possible farmout of its interest in this copper-gold prospect near Bluebird, subject to agreement from its existing joint venture partner.

COORARA

(Meteoric 100%)

Meteoric holds a 40km 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. The company is currently seeking a Joint Venture partner for the project.

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METEORIC RESOURCES NL – QUARTERLY REPORT – 30 SEPTEMBER 2015

CORTEGANA GRAPHITE PROJECT

(Meteoric 100%, application)

During the quarter Meteoric Resources, at the request of the Huleva Delegation, re-lodged an amended Investigation Permit over several crystalline flake graphite occurrences in the Aracena Metamorphic Belt, Huelva province. Following discussions with the Delgacion Territorial, Meteoric Resources reduced the area of the Investigation Permit application from 210 quadriculas to 124 quadriculas shown in Figure 12.

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Figure 12 - Investigation Permit H14913

Geological research has shown the graphite occurrences in the Aracena Metamorphic Belt to be mainly of the stratabound type and coarsely crystalline and flaky, with graphite crystals ranging from 0.25-1mm in size. This type of coarse crystalline graphite commands a premium price in the market and forms an attractive target for exploration and possible development in an area of good infrastructure close to markets.

Graphite has traditionally been considered to be an industrial mineral used in the manufacture of refractories, batteries, steel, brake linings and lubricants. However research has shown that coarse crystalline graphite can be processed to form graphene, a product with many extraordinary properties. Graphene is 200 times stronger than steel by weight, conducts heat and electricity with great efficiency, is nearly transparent and has special electrical properties. Graphene usage is forecast to expand exponentially in the semiconductor, electronics, battery energy and composite materials industries. Thus coarse crystalline graphite is now becoming a high technology material

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

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

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METEORIC RESOURCES NL – QUARTERLY REPORT – 30 SEPTEMBER 2015

Competent Person Statements

The information in this report that relates to the Barkly Copper-Gold Project exploration results is based on information compiled or reviewed by Luke Marshall, who is a full time employee of Golden Deeps Limited, consulting to Blaze International Limited and a Member of the Australian Institute of Geoscientists. Mr Marshall 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’. Mr Marshall consents to the inclusion in the report of the matters based on his information in the form and context in which it appears in the BLZ report and duplicated into this report in its entirety.

The information in this report that relates to the Webb Project 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.

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METEORIC RESOURCES NL – QUARTERLY REPORT – 30 SEPTEMBER 2015

APPENDIX 1

TENEMENT HOLDINGS AT 30 SEPTEMBER 2015

Tenement	Nature of Interest	Project	Ownership (%)	Change in Quarter
E16/0372	Granted	COORARA	100%
E80/4235	Granted	ELIZABETH HILLS (Webb JV)	25%
E80/4407	Granted	ANGAS HILL (Webb JV)	25%
E80/4506	Granted	WEBB DIAMONDS (Webb JV)	Rights to 19%
E80/4737	Granted	WEBB DIAMONDS (Webb JV)	25%
EL30057	Application	WEBB DIAMONDS (Webb JV)	25%
E80/4914	Application	WEBB DIAMONDS (Webb JV)	25%
E80/4815	Granted	LAKE MACKAY (Webb JV)	25%
E80/4863	Granted	KIWIRKURRA	25%
E80/4950	Application	WEBB DIAMONDS (Webb JV)	25%
EL23764	Granted	WARREGO NORTH	100%
EL24255	Granted	WARREGO NORTH	100%	Surrendered
EL24257	Application	WARREGO SOUTH	100%
EL24363	Granted	WARREGO NORTH	100%	Surrendered
EL28693	Application	WARREGO NORTH	100%
EL30666	Application	MONUMENT HILL	100%
EL30701	Granted	R29 BABBLER	100%	Granted
MLC217	Granted	PERSEVERANCE	68.43%
MLC218	Granted	PERSEVERANCE	68.43%
MLC219	Granted	PERSEVERANCE	68.43%
MLC220	Granted	PERSEVERANCE	68.43%
MLC221	Granted	PERSEVERANCE	68.43%
MLC222	Granted	PERSEVERANCE	68.43%
MLC223	Granted	PERSEVERANCE	68.43%
MLC224	Granted	PERSEVERANCE	68.43%
MLC57	Granted	PERSEVERANCE	68.43%
EL28620	Granted	BARKLY	30%
H14913	Application	CORTEGANA - SPAIN	100%

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