PRODIGY GOLD NL — Capital/Financing Update 2007

Apr 23, 2007

24 April 2007

The Announcements Office Australian Stock Exchange Ltd Level 3, 20 Bridge Street SYDNEY NSW 2000

By ASX Online Transmission

Dear Sir,

Please find attached ASX/Media release regarding signing a Memorandum of Understanding (MOU) with major heavy industry province in China.

Yours faithfully

Jutta Zimmermann Company Secretary

24 April 2007

ASX CODE: ABU

ASX ANNOUNCEMENT / MEDIA RELEASE

ABM RESOURCES NL SIGNS MOU WITH MAJOR HEAVY INDUSTRY PROVINCE IN CHINA

ABM Resources NL (ABM) is pleased to announce it has signed a Memorandum of Understanding (MOU) with the Liaoning Province Metallurgical Bureau of Geology and Exploration (Liaoning Institute).

Liaoning Institute has a staff level of 165 people (mainly geologists and related professionals), has 40 mineral concessions in its own right (mainly in China) and has been granted the mandate from the Liaoning Province to secure the supply of mineral resources for the province's and generally China's North West Regions existing and future industrial plants. The Liaoning Province located in the North West heavy industry zone is one of the major heavy industry centres of China, with major steel mills in the Anshan area.

The overriding objective of the MOU is for both parties to work together as partners to bring their existing and new mineral projects into production. Each party has granted priority rights to the other over their projects offtake and both will seek to bring new mineral development opportunities into the partnership.

The key elements in the corporate partnership between the two parties include:

Liaoning Institute:

Either directly, or through other parties, securing all offtake and assisting with funding requirements for ABM's projects;

Providing its technical skills, staff and facilities to bringing joint and ABM's projects into production;

Bringing new mineral opportunities to the partnership.

ABM:

ABM providing resources from its existing projects and new mineral projects located in Western Australia and overseas:

ABM acquiring new mineral projects;

ABM providing its technical skills, staff and facilities to bringing joint and Liaoning Institute projects into production;

ABM assisting Liaoning Institute in developing a minerals trading operation.

Both parties have agreed to convert the MOU to a Corporate Partnership Agreement (CPA) by 15 June 2007.

ABM RESOURCES NL Level 1, 141 Broadway Nedlands Western Australia 6009. www.abmresources.com.au Email: admin@abmresources.com.au . Tel: +61 8 9423 9777 . Fax: +61 8 9423 9733 ABN: 58 009 127 020

The Executive Chairman of ABM said, "This MOU marks the first step in a quantum leap in the growth and development of the company. The powerful funding, offtake, geological and relationship capacity of Liaoning Institute will significantly accelerate the growth of ABM. Both parties are embarking on a major transformation of their respective organizations on the wave of the sustainable long term growth of China. We are proud to be associated with the Liaoning province and the Chinese people in their globally historic transformation."

Further details on the Liaoning Institute are as follows:

Metallurgical & Geological Prospective Research Institute of Liaoning Province (The Institute), a government owned business entity directly under Liaoning Province Department of Land and Resources (The Department), is strategically located in the North-eastern China, the oldest industrialized region in the country, which hosts some of the nation's largest heavy industry bases including steel mills, ship yards, automobile manufacturers, chemical plants and oil refineries.

The Institute, alongside with its association with its sister counterparts under The Department including Liaoning Geological Exploration Institute of Nuclear Industry are the primary forces in exploration and provisions of essential resources, including base metals and uranium, for needs driven by the booming economy, nuclear power stations and industrial revitalization activities in the Northern China region.

Apart from its strong historic involvement in the resource exploration sectors, The Institute has recently been granted development rights and is strongly supported by the government to participate and invest into both domestic and international resource development and trading markets. The Institute has developed a strategic business plan to target both base metal and uranium, markets with particular interests in Australia and Africa, to provide vital supplies of resources for the booming markets in North and North Eastern China including Inner Mongolia.

The Institute has in house staff of more than 164 employees, including some of the country's best known geologists in the fields of iron ore and other base metals exploration. Its assets also include a complete range of in field and off field equipment and testing/lab facilities. The Institute consists of 5 exploration departments, a consulting service, a field survey $&$ mapping department and an IT department.

The Institute provides services including geological investigation, exploration, exploitation, concession, due diligence, geophysical prospecting, hydrological geology, engineering geology, environmental geology, geologic hazard investigation, ground engineering, land forming, industrial mineral utilization, laboratory test of rock ore and soil water quality.

For further information please contact

Imants Kins Executive Chairman 08 9423 9777 0438 35 9705