PRODIGY GOLD NL — Capital/Financing Update 2007

Mar 8, 2007

09 March 2007

Australian Stock Exchange Limited Company Announcements Exchange Plaza Level 8 2 The Esplanade PERTH WA 6000

Dear Sirs

\$3.75 MILLION PLACEMENT TO FUND ERAYINIA EXPLORATION

ABM Resources NL ("ABM") is pleased to advise that it has reached in-principle agreement with Hartleys Limited to raise up to approximately \$3.75 million through the placement of up to 30 million shares at \$0.125 per share to institutional and sophisticated investor clients of Hartleys Limited.

Funds raised from the placement will be applied towards continued exploration at the company's Eravinia project, to conduct exploration activities on the company's other projects and for general working capital purposes.

Speaking from New York, Imants Kins, Managing Director of ABM Resources NL, said "We are delighted to welcome new overseas and Australian investors as shareholders of ABM Resources, and acknowledge the continued strong support of New York based fund Firebird, in assisting with the company's capital requirements in funding ongoing exploration activities, particularly at the exciting Erayinia project."

The ASX Appendix 3B in relation to the issue will follow.

Yours faithfully

Timothy J King Company Secretary