PRODIGY GOLD NL — Capital/Financing Update 2009

Dec 20, 2009

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18 December 2009

ASX CODE: ABU

ASX ANNOUNCEMENT / MEDIA RELEASE

Tanami Gold NL and ABM Resources NL finalise Strategic Exploration Alliance Agreement

The directors of Tanami Gold NL [“Tanami”] and ABM Resources NL [“ABM”] are pleased to announce that the companies have today completed documentation for the sale of Tanami’s interest in its Northern Territory tenements [“Northern Territory Tenements”] to ABM. The Northern Territory Tenements comprise 21 granted exploration licences covering 3,250 sq km, and 54 exploration licence applications covering 21,000 sq km.

The Tanami-ABM Alliance [“Alliance”], which was announced to the ASX on 12 August 2009, will explore for gold, copper and other minerals in the highly prospective Tanami and Arunta Provinces in Western Australia and the Northern Territory. The agreement will allow Tanami to focus on their highly prospective advanced exploration targets in WA and ABM on the many excellent targets on the NT tenements.

Tanami Managing Director, Mr Graeme Sloan said “this is a tremendous step forward for both Companies which will ultimately benefit both shareholder groups. We have always considered the Tanami and Arunta Provinces to be capable of providing several multi-million ounce deposits and we strongly believe this is the best mechanism to unlock this potential in the shortest possible timeframe.”

In consideration for the sale of Tanami’s Northern Territory Tenements to ABM, Tanami has received a cash payment of $1,500,000 and has been issued the following securities:

• 265,000,000 fully paid ordinary shares in ABM. These shares will be subject to a 12 month voluntary escrow period;

• 150,000,000 unlisted options with an exercise price of 1.5 cents and an expiry date of 5 years, which may be exercised when ABM’s Shares trade at or above a minimum VWAP on ASX of 3 cents over 20 consecutive trading days; and

• 150,000,000 unlisted options with an exercise price of 1.5 cents and an expiry date of 5 years, which may be exercised when ABM’s Shares trade at or above a minimum VWAP on ASX of 3.5 cents over 20 consecutive trading days.

The above securities shall be subject to escrow for a period of 12 months. An Appendix 3B in respect of these securities follows this announcement.

Tanami will also have the right to appoint one nominee to the ABM Board.

As part of the agreement, ABM is also committed to spend a minimum of $10,000,000 over a two year period to explore the NT tenements.

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ABM Managing Director, Mr Darren Holden, said, “The settlement of the Tanami-ABM agreement is a watershed moment for both companies. Such an alliance between a junior miner and junior explorer in the same region is very unusual in our industry, but we believe that it is the key to unlocking the potential of Australia’s Final Frontier for mineral discovery. ABM has commenced working on the first suite of 20 quality targets for drill testing during 2010. We welcome Tanami Gold to our share-register and look forward to returning value through discovery for the benefit of all shareholders. We congratulate Tanami Gold on their continued success on near and in-mine exploration at the Coyote Gold Mine nearby in Western Australia.”

About the Tanami and Arunta Provinces

The Tanami and Arunta Provinces of the Northern Territory represent a vast and underexplored wilderness with potential for high grade gold deposits analogous to Newmont Asia Pacific’s Callie Mine (+5Moz gold) and Iron Oxide Copper Gold deposits (analogous to Tennant Creek, Olympic Dam, Ernest Henry precious and base-metal deposits). There are parallels between the Tanami and Arunta Provinces with other world-class gold terranes such as the Birimian in West Africa in terms of age, style of mineralisation and scale of the terrane. In the past the Tanami region has yielded several economic mineral discoveries, however, when compared to other terranes such as the Kalgoorlie Greenstone Belt or the Birimian Shield of Ghana, the Tanami and Arunta Provinces have been subject to a relatively small amount of exploration making them the Final Frontier for mineral exploration discovery in Australia.

ABM Resources now holds more than 24,000 square kilometres of Exploration Licenses and Exploration License Applications making it one of the largest junior land holders focused on gold discovery in Australia. ABM Resources has built a strategy that involves testing twenty targets per annum with each target containing the scale potential to host a Tier One deposit (e.g. >5Moz gold). The company has commenced prioritization of targets and anticipates on ground exploration to commence in March 2010.

ABM Resources is committed to a close working relationship with the communities of the Central Desert and Traditional Owners via the Central Land Council to ensure that the benefits of mineral exploration discovery are for all stakeholders and shareholders.

Yours faithfully

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Darren Holden Managing Director/CEO ABM Resources NL