METEORIC RESOURCES NL — Capital/Financing Update 2021

Feb 7, 2021

ASX ANNOUNCEMENT

8 February 2021

Outstanding Final Assays Extend Continuity of Palm Springs Gold Project

Key Highlights

• Outstanding assay results reported from final holes of maiden 2020 drilling program at Palm Springs, highlights include:

• 25m @ 2.46g/t Au [283m] & 7m @ 2.50g/t Au [377m] in BCRD480

• 20m @ 2.05g/t Au [294m] in BCRD462

• 18m @ 1.80g/t Au [301m] in BCRD477

• 2020 program extremely successful in confirming and extending gold mineralisation over 360m along strike to the south-west of the Butchers Creek Open Pit

• 9 holes intersected more prospective Fold Hinge Zone of the Trachyte Host unit and returned spectacular widths at high grades including (ASX releases 2 & 30 November 2020):

• 69m @ 4.38g/t Au [181m] in BCRD467 including 19m @ 7.22/t Au [204m]

• 56m @ 2.69g/t Au [181m] in BCDD372 including 18m @ 4.85/t Au [203m]

• 55m @ 3.21g/t Au [175m] in BCRD468 including 8m @ 7.56/t Au [179m]

• 53m @ 2.14g/t Au [147m] in BCRC466

• 45m @ 2.25g/t Au [259m] in BCRC475 including 5m @ 10.77/t Au [261m]

• 34m @ 2.48g/t Au [170m] in BCRC470 including 4m @ 7.75/t Au [170m]

• 21m @ 6.07g/t Au [264m] in BCRC476 including 2m @ 47.83/t Au [268m]]

• 2021 field program will focus on additional step-out drilling to further extend project to the SW and infill RC drilling to produce a Maiden Resource Estimate below the Butchers Creek Open Pit and covering the new orebody extension to the south west.

Meteoric Resources NL ( ASX: MEI ) (“ the Company ”) is pleased to advise it has received all outstanding assays from the remaining seven (7) drill holes of the Company’s maiden 2020 exploration program carried out at the Palm Springs Gold Project in Western Australia.

Managing Director, Andrew Tunks said , “Results from the 26-hole maiden 2020 drilling program at Palm Springs were extremely successful in confirming and extending gold mineralisation for over 360m along strike to the south-west of the Butchers Creek Open Pit. Notably, 20 of the holes intersected the ‘Target’ Trachyte, with 9 holes intersecting the Fold Hinge Zone , which continually returned spectacular widths and gold grades.

“On a personal note, I am extremely proud of the Meteoric team that first identified and then acquired an exciting Australian Gold Project on such advantageous terms. Our team backed up the acquisition with some of the best drill results seen across the junior exploration market, consistently delivering quality gold intercepts and significantly growing the potential of the project.

“Our 2021 Kimberley program will be an exciting one indeed, designed to rapidly advance the Palm Springs Gold Project towards production. An initial key priority being the completion of both additional step-out drilling to further extend the project to the south west and an infill drilling program, following dewatering of the Butchers Creek Open Pit. Planned drilling under the pit floor will target unmined ore in the floor and immediately below the pit. Historic information indicates a significant amount of gold ore was left behind when the operation ceased in the late 1990’s due to an historically low gold price. Our aim is to produce a Maiden Resource Estimate below the Butchers Creek Open Pit and along strike to the southwest and move rapidly into the studies phase from there.”

2020 Drilling Program

Meteoric’s 2020 drilling campaign at the Palm Springs Project totaled 26 holes for 2,278m of diamond drilling and 5,042m of RC drilling (Figure 1 & Appendix 1). Drilling was extremely successful in confirming and extending gold mineralisation for a minimum of 360m along strike to the south-west of the Butchers Creek open pit.

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Figure 1. Drill hole location plan of 2020 Butchers Creek drill program with Highlight Intercepts from the Company’s 2020 Campaign. Location of all Cross-sections presented in this Release [Figures 3 & 4, Appendix 2] are also shown.

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Twenty (20) of the 26 holes intersected the ‘Target’ Trachyte. Drilling showed that gold mineralisation is stratabound within a tightly folded trachyte-rich volcanic unit within sediments. The best widths and concentrations of gold mineralisation occur within an anticlinal fold “Fold Hinge Zone” with mineralisation also present along the “Fold Limbs” (see Figures 2 & 3, Table 1 & Appendix 2). The Trachyte unit is strongly silicified and albitised, and gold mineralisation is intimately associated with abundant quartz + carbonate + chlorite veins with localised sulphide alteration haloes containing pyrite > pyrrhotite >> arsenopyrite.

Nine (9) of the 20 holes which intersected the Trachyte intersected the Fold Hinge Zone , which continually returned spectacular widths at high grades (refer ASX releases 2 & 30 November 2020), including:

• 69m @ 4.38g/t Au [181m] in BCRD467 including 19m @ 7.22/t Au [204m]

• 56m @ 2.69g/t Au [181m] in BCDD372 including 18m @ 4.85/t Au [203m]

• 55m @ 3.21g/t Au [175m] in BCRD468 including 8m @ 7.56/t Au [179m]

• 53m @ 2.14g/t Au [147m] in BCRC466

• 45m @ 2.25g/t Au [259m] in BCRC475 including 5m @ 10.77/t Au [261m]

• 34m @ 2.48g/t Au [170m] in BCRC470 including 4m @ 7.75/t Au [170m]

• 21m @ 6.07g/t Au [264m] in BCRC476 including 2m @ 47.83/t Au [268m]

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Figure 2. Drill hole location plan of 2020 Butchers Creek drill program with Highlight Intercepts from the Company’s 2020 Campaign. Note the thicker, higher grade nature of the Fold Hinge intercepts in Purple versus the Fold Limb Intersections in Blue. Location of all Cross-sections presented in this Release [Figures 3 & 4, Appendix 2] are also shown.

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The remaining eleven (11) holes which intersected the Trachyte intersected the Fold Limbs of the anticlinal fold with generally narrower widths than the Fold Hinge Zone (though not always), but still with moderate-high grades which included (ASX release 2 November 2020):-

• 8m @ 10.41g/t Au [156m] in BCDD373

• 25m @ 2.46g/t Au [283m] & 7m @ 2.50g/t Au [377m] in BCRD480

• 20m @ 2.05g/t Au [294m] in BCRD462

• 19m @ 1.75g/t Au [336m] & 14m @ 2.01g/t Au [398m] in BCRC478

• 18m @ 1.80g/t Au [301m] in BCRD477

• 12m @ 2.51g/t Au [180m] in BCRC469

• 8m @ 2.11g/t Au [286m] & 10m @ 1.49g/t Au [363m] in BCRD472

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HINGE
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Figure 3: A good example (Detail of Section 9,850mN) of the general relationship between thick, robust high-grade intercepts in the Trachyte within the Fold Hinge Zone of the fold versus narrower intersections encountered below in the Fold Limbs . NOTE: On several sections the width of the mineralisation on the Limbs is significant, ranging from 12m – 25m thick! See Section Figure 10,080mN (Figure 2) & 9,620mN (Figure 6) and Sections 9940mN, 9900mN, 9750mN and 9650mN in Appendix 2

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Table 1. Table of Best Mineralised Intercepts (>10 gram.metres) for Butchers Creek 2020 drilling program.

Section	Hole ID	Sample Type	From (m)	To (m)	Interval (m)	Au Grade (g/t)	Gram.Metres (g/t.m)	Ore Zone
10170m N	BCDD371	DD	138.00	144.00	6.00	1.99	12	Hinge
9970m N	BCRC469	RC	180.00	192.00	12.00	2.51	30	Limb
	BCRC470	RC including	170.00 170.00	204.00 174.00	34.00 4.00	2.48 7.75	84 31	Hinge Hinge
9940m N	BCDD372	DD including	181.00 203.00	237.00 221.00	56.00 18.00	2.69 4.85	151 87	Hinge Hinge
	BCDD373	DD including	156.00 160.00	164.00 162.00	8.00 2.00	10.41 34.44	83 69	Limb Limb
	BCDD374	DD	126.00 151.00	136.00 166.00	10.00 15.00	2.49 2.14	25 32	Hinge Hinge
	BCRC466	RC	147.00	200.00	53.00	2.14	113	**Hinge **
9900m N	BCRD462	DD	294.00	314.00	20.00	2.05	41	Limb
	BCRC465	RC	No Trachyte Intercepted					Sediment
	BCRD468	RCD including and	175.00 179.00 190.00	230.00 187.00 200.00	55.00 8.00 10.00	3.21 7.56 5.21	176 60 52	Hinge Hinge Hinge
9850m N	BCRC464	RC	No Trachyte Intercepted					Sediment
	BCRD467	RCD including	181.00 204.00	250.00 223.00	69.00 19.00	4.38 7.22	302 137	Hinge Hinge
	BCRD471	DD	287.00	289.00	2.00	1.77	4	Limb
9810m N	BCRC463	RC	No Trachyte Intercepted					Sediment
	BCRC474	RC	214.00	223.00	9.00	1.75	16	Limb
	BCRC481	RC	302.00	310.00	8.00	1.45	12	Limb
9770m N	BCRD473	DD	No Trachyte Intercepted					Sediment
	BCRC482	RC	302.00	311.00	9.00	1.37	12	Limb
9750m N	BCRC475	RC including	242.00 259.00 261.00 314.00	244.00 304.00 266.00 324.00	2.00 45.00 5.00 10.00	6.12 2.25 10.77 1.85	12 101 54 19	Sediment Hinge Hinge Hinge
	BCRD477	DD	301.00	319.00	18.00	1.80	32	Limb
9720m N	BCRD472	RCD	286.00 363.00	294.00 373.00	8.00 10.00	2.11 1.49	17 15	Limb Limb
	BCRC476	RC including	264.00 268.00	285.00 270.00	21.00 2.00	6.07 47.83	127 96	Hinge Hinge
9660m N	BCRC478	RC	336.00 398.00	355.00 412.00	19.00 14.00	1.75 2.01	33 28	Limb Limb
	BCRC479	RC	No Trachyte Intercepted					Sediment
9620m N	BCRD480	DD including	283.00 289.00 359.00 377.00	308.00 306.00 373.00 384.00	25.00 17.00 14.00 7.00	2.46 3.21 0.81 2.50	62 55 11 18	Limb Limb Limb Limb Limb
		including	379.00	381.00	2.00	7.11	14

• min width 2m, lower-cut 0.5g/t, max 2m internal dilution

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As previously reported, historic drilling and final pit surveys indicate very thick zones of gold mineralisation remain in the floor and immediately under the Butchers Creek Open Pit (Figure 4). The intercepts from the hinge zone and the limbs of the anticline listed above confirm thick, robust zones of mineralisation (particularly in the hinge region) extend south along strike from the bottom of the pit for 360m. This is clear in Appendix 2 which shows a suite of nine (9) sections heading southwest along strike from the Butchers Creek open pit.

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1997
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Figure 4. Historical X-Section 10,080mN from Butchers Creek Open-pit. Note the strongly stratabound nature of the mineralisation within the trachyte “Host unit”. Also shown is the final pit depth at 335m RL and the proposed pit design to the 350m RL. All of the drilling shown on this section was completed by previous operators in the 1990s immediately prior to mining. Meteoric announced the complete results of all historic drilling and produced a JORC 1 Table in the announcement of the acquisition of the Palm Springs Gold Project on 1 July 2020.

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Recent Assay Results

Results for the final seven (7) holes of the 2020 drilling program from Butchers Creek were received during January (Table 2) with best results including:-

• 25m @ 2.46g/t Au [283m] & 7m @ 2.50g/t Au [377m] in BCRD480

• 20m @ 2.05g/t Au [294m] in BCRD462

• 18m @ 1.80g/t Au [301m] in BCRD477

Recent results from drilling on Sections 9750mN (Figure 5) and 9620mN (Figure 6) extend the mineralisation 360m southwest along strike of the Butchers Creek Open Pit.

Two (2) holes were drilled on section 9750mN, approximately 220m south-west of the pit crest (Figure 5). BCRC475 (previously reported 2 November 2020) drilled through the hinge zone of the anticline and intersected 45m @ 2.3g/t Au from 259m and 10m @ 1.9 g/t Au from 314m.

Results were recently received for BCRD477 which was drilled below BCRC475, intersecting both limbs of the anticline. Strong alteration was observed over significant width on the upper limb of the fold which returned 18m @ 1.80g/t Au [301m]. This is consistent with thick (up to 25m) mineralised intercepts on the upper limb observed on several other Sections detailed in Appendix 2. Whilst not as thick as the upper limb, the lower limb still intersected mineralisation with 2m @ 1.7g/t [371m] & 2m @ 2.3g/t Au [378m]. Gold mineralisation remains open at depth.

Table 2 Mineralised Intercepts Table - Butchers Creek 2020 drilling program recent assay results.

Hole ID	Sample Type	From (m)	To (m)	Interval (m)	Au Grade (g/t)	Gram.Metres (g/t.m)
BCRD462	DD	294.00	314.00	20.00	2.05	41
BCRD471	DD	287.00 299.00 306.00 357.00 365.00	289.00 303.00 308.00 359.00 367.00	2.00 4.00 2.00 2.00 2.00	1.77 1.05 0.56 1.47 0.61	4 4 1 3 1
BCRD477	DD	301.00 371.00 378.00	319.00 373.00 380.00	18.00 2.00 2.00	1.80 1.70 2.25	32 3 5
BCRC479	RC	303.00	305.00	2.00	0.75	2
BCRD480	DD including including	283.00 289.00 359.00 377.00 379.00	308.00 306.00 373.00 384.00 381.00	25.00 17.00 14.00 7.00 2.00	2.46 3.21 0.81 2.50 7.11	62 55 11 18 14
BCRC481	RC	302.00 390.00	310.00 394.00	8.00 4.00	1.45 0.57	12 2
BCRC482	RC	302.00	311.00	9.00	1.37	12

NOTE: min width 2m, lower-cut 0.5g/t, max 2m internal dilution.

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Figure 5. Section 9,750mN, 220m south-west of Butchers Creek Open-pit. Visible gold grains were intersected in BCRD477 in a thick interval of mineralisation on the Limb of the fold (18m @ 1.8g/t Au).

Results were also recently received for one (1) hole, BCRD480 drilled on section 9620mN, approximately 360m south-west of the pit crest (Figure 6). Drilling targeted the hinge zone of the anticline, approximately 150m down-plunge from BCRC475 which intersected 45m @ 2.3g/t Au [259m] & 10m @ 1.9 g/t Au [314m]. Unfortunately, the hole was collared too far to the west and the hole drilled below the hinge region, intersecting the upper and lower limbs of the anticline. Several instances of visible gold were observed on the upper limb which returned 25m @ 2.46g/t Au [283m]. This is consistent with thick (25m being the thickest) mineralised intercepts on the upper limb observed on several other Sections (Appendix 2) and this confirms the target is larger than just the hinge region, with considerable mineralisation on the limbs. Again, whilst not as thick as the upper limb, the lower limb still intersected mineralisation with 7m @ 2.5g/t Au [377m].

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Significantly, this is the southernmost hole drilled at Butchers Creek. Mineralisation remains open both at depth and along strike to the south-west. This will be an obvious target for follow up during Meteoric’s 2021 drill campaign.

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Figure 6. Section 9,620mN, 360m south-west of Butchers Creek Open-pit. Visible gold grains were intersected in BCRD480 (380.5m) in 15mm thick quartz-carbonate-chlorite vein with pyrite and pyrrhotite grading 11.05g/t Au (refer ASX release 30 November 2020). Follow up drilling will target thicker, medium-high grade intercepts in the Hinge zone (as observed on other Sections).

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2021 Work Program

There will be a strong focus during 2021 field season on programs designed to rapidly advance the Palm Springs Gold Project towards production. Key priorities will be completing dewatering the Butchers Creek pit to allow drilling immediately beneath the pit floor and additional step-out and infill RC drilling to produce a Mineral Resource Estimate. The numbers from any Resource Estimate will be used to underpin a Scoping Study and assuming the study is positive, the Company intends to implement additional programs including but not limited to: preliminary metallurgical testwork, and geotechnical studies. These work programs are all designed to support a Prefeasibility/Feasibility Study.

This announcement has been authorised for release by the Board.

For further information, please contact:

Dr Andrew Tunks Victoria Humphries Managing Director Investor and Media Relations Meteoric Resources NWR Communications E: ajtunks@meteoric.com.au E: victoria@nwrcommunications.com.au T: +61 400 205 555 T: +61 431 151 676

Competent Person Statement

The information in this announcement that relates to mineral resource estimates and exploration results is based on information reviewed, collated and fairly represented by Mr Peter Sheehan who is a Member of the Australasian Institute of Mining and Metallurgy and a consultant to Meteoric Resources NL. Mr Sheehan has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which has been undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Sheehan consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.

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Appendix 1 – Palm Springs 2020 Drilling Program – drill hole information.

Section	Hole ID	Type	Easting	Northing	RL	Dip	Azimuth (True)	RC Depth (m)	DD Interval (m)	Final Depth (m)
9620m N	BCRD480	RCD	374355	7970513	380	‐63	125	114	282.3	396.3
9660m N	BCRC478 BCRD479+	RC RCD	374294 374348	7970612 7970570	380 380	‐60 ‐60	125 125	424 324	0.0 41.7	424.0 365.7
9700m N	BCRD472	RCD	374357	7970628	368	‐60	125	189	207.1	396.1
9740m N	BCRC475 BCRC476 BCRD477	RC RC RCD	374390 374471 374350	7970625 7970577 7970672	380 380 380	‐60 ‐70 ‐60	125 125 125	354 294 318	0.0 0.0 86.6	354.0 294.0 404.6
9770m N	BCRC482 BCRD473+	RC RCD	374380 374429	7970688 7970649	402 401	‐62 ‐60	125 125	318 189	0.0 162.1	318.0 351.1
9810m N	BCRC481 BCRD463+ BCRC474	RC RCD RC	374379 374487 374528	7970740 7970668 7970623	399 396 398	‐55 ‐70 ‐75	125 125 125	406 131 252	0.0 127.1 0.0	406.0 258.1 252.0
9850m N	BCRD471 BCRD464* BCRD467	RCD RC RCD	374442 374538 374540	7970742 7970679 7970660	379 379 382	‐57 ‐73 ‐68	125 125 125	189 125 138	201.1 0.0 133.4	390.1 125.0 271.4
9900m N	BCRD461* BCRD462 BCRD468 BCRC465+	RC RCD RCD RC	374503 374503 374568 374585	7970800 7970800 7970722 7970695	382 382 381 387	‐63 ‐63 ‐74 ‐75	125 125 125 125	94 198 141 180	0.0 144.0 106.4 0.0	94.0 342.0 247.4 180.0
9940m N	BCDD372 BCDD373 BCDD374 BCRC466	DD DD DD RC	374590 374590 374590 374620	7970743 7970743 7970743 7970719	376 376 376 379	‐75 ‐83 ‐70 ‐80	132 132 132 125	0 0 0 220	246.3 195.0 180.0 0.0	246.3 195.0 180.0 220.0
9970m N	BCRC469 BCRC470	RC RC	374601 374608	7970781 7970768	374 380	‐68 ‐49	125 067	222 222	0.0 0.0	222.0 222.0
10160m N	BCDD371	DD	374688	7970956	377	‐49	130	0	164.9	164.9
								5,042.0	2,278.0

Geographic Datum is GDA94, Zone 52 South. * hole abandoned due to excessive lift.

+ no Trachyte intercepted in drill hole.

Appendix 2 – Butchers Creek Drill Hole Sections

Section 10170mN – Butchers Creek Pit

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Section 10080mN – Butchers Creek Pit (Historic Drilling)

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Section 9900mN

Section 9940mN

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Section 9850mN

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Section 9750mN

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Section 9730mN

Section 9650mN

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Section 9620mN

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Appendix 3 ‐ JORC Code, 2012 Edition Table 1

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	Commentary	Commentary
Sampling techniques		REVERSE CIRCULATION (RC) drilling was used to obtain 1 m samples from which 3-5 kg was split out,
		then sent to the laboratories to be pulverised to produce a 50 g charge for fire assay.
		DIAMOND CORE (DD) drilling was used to obtain 1 m samples from which 3-5 kg was cut, then sent to
		the laboratories to bepulverised toproduce a 50gcharge for fire assay.
Drilling techniques		RC drilling was carried out using a T450 Schramm with 3.5’ rods and a 5.5’ face sampling hammer.
		DD drilling was completed using a KWL1600 drilling rig which produced HQ diameter core.
		The core was oriented using the TruCore UPIX tool and structural measurements were collected in zones
		of mineralisation and/or zones of interest.
Drill sample recovery		Core loss is systematically measured and recorded by the Field Technician when the core is received
		from the rig. Additionally, it is often recorded by the Geologist in the Comments section of the summary
		logging sheets. Core recovery was excellent with >98% recoveries in fresh rock.
		The condition of RC drill chips are recorded in the Comments section of the sample sheets if there was
		‘wet sample’ or ‘no sample’ return. To (2) holes experienced excessive water and were abandoned (at
		>300m depth). Only the last 2-3 metres returned ‘wet’ samples.
		The utilisation of a high capacity RC drill rig (listed above) ensures recoveries are maximized in the deep
		RC drilling.
		No relationship (positive or negative) was observed between recovery and gold grade. There is no reason
		to believe anysample bias has been introduced as a result of the recovered sample fraction.
Logging		RC drill holes were geologically logged on 1m intervals and in sufficient detail to support descriptions of
		rock types and mineralisation presented in the Announcement above.
		DD drill holes were logged based on lithology/alteration boundaries and in sufficient detail to support
		descriptions of rock types and mineralisation presented in the Announcement above.
		Logging is qualitative in nature recording: oxidation, texture, rock type, structure type and alpha angles,
		alteration type and intensity, sulphide type and percentages.
		All DDandRC drill holeswereloggedin theirentiretyfor the2020 drilling program.
Sub-sampling techniques		DD Core for sampling was systematically sawed in half (using a cut line as a reference) and Half Core was
and sample preparation		generally submitted to the laboratory for analysis. The same side of the cut line was submitted for analysis
		to maximise representivity. Where Duplicate samples were required, the half core was sawed in half again
		and quarter core for the relevant interval was submitted to the laboratory for analysis.
		RC chips were split by individual metre at the drill rig into 3-5kg sub samples using a cone splitter.
		Both sampling methods are considered appropriate for Au determination given the sample size and are
		supported byStandard Industry practices.
Quality of assay data and		Analysis was carried out by Australian Laboratory Services (Perth, WA), an accredited Laboratory, namely.
laboratory tests		Au determination was by Fire Assay (50g charge).
		No additional methods or tools for sampling are considered in the text.
		Quality control samples were inserted every 20 samples with a mixture of standards, blanks and
		duplicates. For RC a duplicate sample was taken from the cone splitter. For DD where quarter core was
		sampled, quarter core was submitted as a duplicate sample. Where half core was sampled, quarter core
		was submitted as a duplicate sample. Where whole core was sampled, no duplicate samples were
		submitted.
Verification of sampling		Significant intersections in the above announcement were cross checked by site geologists by revisiting
and assaying		the individual chip trays or diamond drill core and making a visual comparison of observed alteration with
		reported gold grades, and/or against recorded drill hole logs.
		Significant intersections in historic drill holes in the area of the existing pit were supported by grade control
		drilling. The author is encouraged by reported recovered mill reconciled grades of 2.09g/t Au versus a
		stated resource grade of 2.10g/t Au. While this is not definitive it does lend weight to accurate drilling
		grades.
		Several historic RC holes (BCRC) were twinned by historic diamond holes (BCD). For several holes both
		grade and intersection width varied significantly. This will be followed up in subsequent work.
		MEI completed several twin drill holes of historic drill holes in the 2020 drilling program with results and
		geostatistics to be reported upon when complete (upon receipt of all outstanding assays).
		Drill hole information was recorded on a combination of paper logs and excel spreadsheets in the field,
		then transferred into an access database at the completion of the program. Data checks are run by Project
		manager subsequent to loading the data looking for incomplete or incorrect intervals in the database.
		Assaydata has not been adjusted.
Location of data points		Drill hole collars have been picked up with a handheld GPS and recorded using MGA94 datum.
		MNG Survey based in Kununurra provided survey control for the drill program and all 2020 drill hole collars
		will be picked up using a DGPS using MGA.
		Current topographic control (20m contours) plus collar pickups are considered adequate as a basis for the
		design and reportingof exploration drilling.
Data spacing and		Drill spacing over the historical resource at Butchers Creek is generally 40m between collars, drilled on
distribution		sections 20m apart.

Criteria	Commentary	Commentary
		Drill spacing for 2020 program is up to 80m between collars, drilled on sections 40m-50m apart.
		The drill spacing is considered sufficient to support exploration results.
		No compositinghas beenappliedto exploration results.
Orientation of data in		Mapping of the pit floor and walls during open cut mining by PMA identified a complex vein system. The
relation to geological		structural orientation of mineralized vein system at Mt Bradley is poorly understood. All MEI’s 2020 DD
structure		holes we orientated with structural and lithological data recorded in the logging to better understand any
		veining.
		The drill orientation for all holes at Mt Bradley is dominantly at right angles to the strike of the stratigraphy
		but not necessarily the vein array. The majority of holes at Butchers Creek are angled with an easterly drill
		azimuth, which is optimal to test both steep and shallow west dipping mineralisation. Several vertical holes
		are shown on section.
Sample security		All sampling of MEI’s 2020 drilling program was supervised and carried out by experienced geologist and
		technician. Both RC and DD samples were bagged in calico bags onsite, with 4 calico’s bags containing
		samples were transferred into a ploy-weave bag and then into a large bulka bag for transport via road from
		Halls Creek to ALS in Perth using a reputable transport company.
		The security of the sampling processis consideredto be appropriate bythe author.
Audits or reviews		No audits or reviews have been conducted on theproject.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	Commentary	Commentary
Mineral tenement tenure		Shown in Appendix 4.
Exploration done by other		A Low-Level aerial Magnetic-Radiometric survey was flown over 30% of the project area in Dec 1996.
parties		Southern Geoscience completed a litho-structural analysis of the aeromagnetic and identified 16
		exploration targets for gold mineralisation.
		Two regional stream sediment surveys were completed Geochemex (1996) and Stockdale (1997) and 440
		sites sampled.
		PMA completed infill stream sediment sampling of 16 target areas and three high priority areas were
		identified.
		Prior to Meteoric, there hasn’t been any systematic exploration or drilling of these tenements since mine
		closure in June 1997.
Geology		The project is located within the Halls Creek Mobile Zone and includes numerous gold occurrences, the
		majority of which are associated with quartz vein systems developed within anticlinal hinges and adjacent
		to fault zones. The Butchers Creek mine sequence is composed of Lower Proterozoic turbiditic sediments,
		trachyandesitic volcanics of the Olympio Formation, Butchers Ck Member and basic sills and dykes, which
		are tightly folded and metamorphosed to greenschist facies.
		Mineralisation is associated with the quartz vein arrays associated with the brittle deformation of massive
		trachyandesite, particularly where its highly altered, with a high sulphide occurrence.
		Gold mineralisation is associated with anticlinal fold hinges, which plunges at 20-30degrees to the south
		from the southern limit of the open cut. The folded trachyandesite is within a tightly folded overturned
		anticline, with the western limb dipping 70 west and eastern limb dipping 85 degrees west dipping, beside a
		major north trendingregional shear zone.
Drill hole Information		Provided in Table 1 and 2 of main report.
Data aggregation methods		Mineralized Intercepts provided in Appendix 1 are uncut, have a minimum width of 2m, use a lower-cut
		0.5g/t Au, and allow a maximum of 2m internal dilution.
		Generally, where >75% of the contained metal for an intercept is contained with <25% of the width, short
		lengths with high-grades are reported as “including…”.
		No Metal Equivalents are used.
Relationship between		All assay intervals are down hole intersections, the true width isn’t reported.
mineralisation widths and		The drill orientation for reported holes is dominantly at right angles to the strike of the stratigraphy, but not
intercept lengths		necessarily the vein array. The majority of holes at Butchers Creek are angled with an easterly drill
		azimuth, which is optimal to test both steep and shallow west dipping mineralisation. Several vertical holes
		are shown on section.
		Mineralisation is interpreted to dip 70o-80otowards the (grid) west, drilling is generally oriented 60o-80oto
		(grid)east. Therefore,true widths are likelyto be ~25%narrower than reported downhole widths.
Diagrams		Refer to body of the announcement forCross-Sections andDillCollarplots.
Balanced reporting		MineralisedInterceptsforalldrill holesreportedin the abovereportare presentedin report
Other substantive		There is no other substantive exploration data that is meaningful and material to the current Release.
exploration data
Further work		Refer to the bodyof announcement.

Appendix 4 – Palm Springs Project Tenement Summary

Tenement	Type	MEI %	Area (Ha)
M80/106	MiningLease	97%	38.8
M80/315	MiningLease	97%	511.6
M80/418	MiningLease	100%	6.8
E80/4856	Exploration Licence	100%	4200.0
E80/4874	Exploration Licence	100%	1100.0
E80/4976	Exploration Licence	100%	1780.0
E80/5059	Exploration Licence	100%	5000.0
P80/1766	ProsectingLicence	100%	120.0
P80/1768	ProsectingLicence	100%	120.0
P80/1769	ProsectingLicence	100%	120.0
P80/1839	ProsectingLicence	100%	5.8
P80/1854	ProsectingLicence	100%	8.0
P80/1855	ProsectingLicence	100%	44.0