PRODIGY GOLD NL — Capital/Financing Update 2013

Apr 28, 2013

ASX ANNOUNCEMENT / MEDIA RELEASE ASX:ABU

29th April 2013

Bandit Trend 1.7km East of Old Pirate yields rock chip samples up to 108g/t gold

ABM Resources NL ("ABM" or "The Company") presents an update on extensional exploration work in the area around Old Pirate particularly the southern section of the Bandit Trend.

Extensional Exploration:

• Bandit South Area
  • Widespread outcropping quartz veins.
  • New rock chip sample results up to 108g/t gold being the highest grade result ever off the main Old Pirate trend.
  • Other rock chip results in the area include 8.3g/t and 13.1g/t gold.
  • Soil geochemistry anomalies.
• Old Pirate Trial Mining and Processing
  • Off-site modular pilot-plant construction for the Old Pirate staged development continues on schedule and budget.
  • Digging scheduled to commence in June with processing scheduled to start in July 2013.

Darren Holden, Managing Director of ABM Resources said, "ABM has previously announced anomalous gold on the 4 kilometre long Bandit Trend. However, recent sampling revealed grades up to 108g/t gold and represent a result comparable to parts of the Old Pirate / Golden Hind Deposits. These results follow on from the recently released high-grade rock samples at the Bermuda Prospect. ABM will continue exploration efforts on the Bandit Trend in particular on a target area beneath vegetation / cover immediately to the south of the high-grade rock samples."

ABM's On-Going Search for High-Grade Gold Veins at Surface

ABM is focused on bringing the high-grade Old Pirate Deposit into production through staged development commencing with trial mining and processing in June / July of 2013. However, on-going exploration within trucking distance of the Old Pirate plant remains priority. In 2012 ABM discovered the Golden Hind Deposit and within months of drilling the first hole the Company converted the project into a high-grade indicated resource estimation (113,000 tonnes averaging 16.45g/t for 59,100 ounces). Golden Hind has a footprint of less than 100 metres strike length of high-grade and coarse gold in veins at surface and represents a potentially highly profitable open pit mining scenario. The small footprint falls between previous sampling lines and Golden Hind is along strike from other quartz veins which generally have low-grade gold or are barren. This taught ABM's exploration team that quartz veins can change in nature and transition from low-grade to high-grade over very short distances. As a result, the Company has commenced the 2013 season by mapping and sampling the many kilometres of strike length of other quartz veins in the area. This has already lead to the identification of high-grade gold at the Bermuda Zone (refer release dated 09/04/2013). Mapping and sampling are low-cost and can identify high-grade systems prior to confirmatory and resource drilling. This release details the on-going work at the Bandit – Bandit South Area and further results are expected shortly.

Bandit Trend

The Bandit Trend (including the Bandit - Bandit South Area) consists of an area more than 4 kilometres long and 1.5 kilometres wide with widespread and outcropping quartz veins hosted in sedimentary shale and sandstone sequences. Much of the outcropping quartz is barren of gold, however, as with the Old Pirate area, quartz veins can trend from barren to high-grade over short strike lengths. Previously the Company drill tested one part of the Bandit Trend and assay results returned up to 13.5g/t gold.

As part of the on-going exploration work the Company sampled the Bandit - Bandit South Area. Rock sampling returned anomalous results with a peak value of 108g/t gold. The vein yielding the 108g/t gold rock chip sample, outcrops over several metres and is approximately 20 centimetres wide as exposed at surface. The area immediately to the south of this outcrop (along strike) is an area of vegetation and cover with no outcrop. Analysis of geophysical data reveals a number of structures (faults and folds) under the cover that link through to the main Old Pirate area to the North West. Overall the Bandit – Bandit South area shows anomalism over a 1.25 kilometre strike length. Exploration work involving surface soil geochemistry and rock-sampling is continuing with further results expected shortly.

Figure 1. Bandit-Bandit South Area quartz outcrop which yielded the 108g/t gold rock-chip sample.

Figure 2. Bandit Trend Location relative to Old Pirate

Figure 1. Bandit - Bandit South Area showing surface geochemistry soil contours and rock-sampling results.

Update on Old Pirate Trial Mine and Processing - Pilot Plant Construction

The construction of the Trial Mine and Pilot Plant remains on target and budget to commence digging in June 2013 and processing in July 2013.

About ABM Resources

ABM is an exploration company developing several gold discoveries in the Central Desert region of the Northern Territory of Australia. The Company has a multi-tiered approach to exploration and development with a combination of high-grade potentially short-term production scenarios such as Old Pirate and the Golden Hind, large scale discoveries such as Buccaneer, and regional exploration discoveries such as the Kroda Gold Project. In addition, ABM is committed to regional exploration programs throughout its extensive holdings.

ABM is well capitalised to achieve its milestones in 2013.

Signed

Darren Holden – Managing Director

Competent Persons Statement

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Darren Holden who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Holden is a full time employee of ABM Resources NL and 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 2004 Edition of the "Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves". Mr Holden consents to the inclusion in the documents of the matters based on this information in the form and context in which it appears.

For Further Information Please Contact

Jutta Zimmermann Darren Holden Berdine Mastaglia +61 8 9423 9777 +61 8 9423 9777 +61 8 9423 9777

CFO / Company Secretary Managing Director Investor Relations Manager

APPENDIX 1. Surface sampling results from the Bandit to Bandit South area.

Sample ID	Easting	Northing	Gold (g/t)
TBRK00361	518233.00	7766893.00	108.00
TBRK00373	518161.80	7766550.00	8.30
TBRK00266	518233.00	7766891.00	2.10
TBRK00367	518230.90	7766915.00	0.65
TBRK00374	518167.30	7766488.00	0.49
TBRK00372	518159.10	7766554.00	0.13
TBRK00363	518231.10	7766903.00	0.12
TBRK00365	518204.80	7766950.00	0.11
TBRK00319	518469.00	7767366.00	0.08
TBRK00269	517947.00	7766384.00	0.08
TBRK00371	518175.20	7766588.00	0.05
TBRK00263	518204.00	7766938.00	0.03
TBRK00376	518230.80	7766445.00	0.03
TBRK00076	518270.00	7767643.00	0.03
TBRK00366	518213.80	7766932.00	0.03
TBRK00362	518231.10	7766896.00	0.02
TBRK00370	518192.10	7766973.00	0.02
TBRK00077	518205.00	7767721.00	0.01
TBRK00002	518093.00	7767575.00	0.01
TBRK00262	518191.90	7766912.00	0.01
TBRK00268	517958.00	7766383.00	0.01
TBRK00267	517941.00	7766445.00	0.01
TBRK00264	518203.00	7766946.00	0.01
TBRK00013	518313.00	7766648.00	0.01
TBRK00128	518524.00	7767508.00	<0.01
TBRK00012	518238.00	7767620.00	<0.01
TBRK00130	518552.00	7767719.00	<0.01
TBRK00011	517526.00	7767053.00	<0.01
TBRK00003	517655.00	7767182.00	<0.01
TBRK00129	518538.00	7767528.00	<0.01
TBRK00001	518176.00	7767635.00	<0.01
TBRK00132	518585.00	7767657.00	<0.01
TBRK00087	517520.00	7765972.00	<0.01
TBRK00131	518568.00	7767668.00	<0.01
TBRK00265	518199.00	7766940.00	<0.01
TBRK00369	518203.50	7766971.00	<0.01
TBRK00368	518197.30	7766957.00	<0.01
TBRK00364	518234.30	7766904.00	<0.01

Table 1. Recent Rock Chip samples from Bandit / Bandit South area.

All samples collected by ABM Resources personnel, with location recorded using hand held GPS. Samples processed by ALS Global in Alice Springs and Perth using AA26 Fire Assay method.

Sample ID	Easting	Northing	Gold (g/t)
3092953	518141.90	7767194.39	12.99
3092954	518173.24	7767136.39	1.18
658098	518187.57	7767190.39	1.00
3092998	518146.18	7767193.39	0.75
3092956	518144.91	7767340.39	0.50
658067	518186.14	7767189.39	0.42
658099	518168.93	7767112.39	0.30
3092952	518131.96	7767243.39	0.15
3810251	518186.98	7767989.39	0.13
3810260	518171.12	7766478.39	0.10
657548	517968.39	7766400.30	0.10
3092964	518084.10	7767881.39	0.09
658100	518195.88	7766947.39	0.08
658097	518097.70	7767229.39	0.06
314293	517988.30	7767710.51	0.06
657549	517962.68	7766400.26	0.06
3092993	517946.99	7766407.39	0.03
658096	518107.97	7767504.39	0.02
3093000	518119.84	7767933.39	0.02
3092968	518278.71	7767000.39	0.02
3092957	518085.10	7767467.39	0.02
658095	518106.54	7767499.39	0.02
658068	518052.47	7767654.39	0.01
3092958	518168.04	7767624.39	0.01
3810258	518224.13	7766671.39	0.01
3092947	518425.75	7767038.39	0.01
3092951	518122.01	7767273.39	0.01
3092965	518211.16	7767908.39	0.01
3092994	517978.21	7766233.39	0.01
3815675	518183.54	7766065.39	<0.01
3092949	518559.01	7767532.39	<0.01
3810259	518191.18	7766551.39	<0.01
3815666	518233.48	7766065.39	<0.01
3092972	517967.15	7766579.39	<0.01
3092999	518158.16	7767729.39	<0.01
5153256	518184.01	7766515.39	<0.01
3092938	517973.87	7766185.39	<0.01
3092950	518441.91	7767470.39	<0.01
3092960	518345.92	7767127.39	<0.01
3092961	518059.08	7767154.39	<0.01
3092966	518135.93	7766938.39	<0.01
3092970	518124.24	7766678.39	<0.01
3092944	518408.19	7766630.39	<0.01

Table 2. Historic sample results from the Bandit – Bandit South area

Sample ID	Easting	Northing	Gold (g/t)
3092955	518183.20	7767103.39	<0.01
3092959	518296.20	7767340.39	<0.01
3092974	517951.05	7766194.39	<0.01
3092992	517667.14	7766281.39	<0.01
3092997	517880.02	7766508.39	<0.01
3092941	518440.69	7766318.39	<0.01
3092942	518440.69	7766318.39	<0.01
3092943	518467.90	7766413.39	<0.01
3092945	518414.13	7766843.39	<0.01
3092946	518389.98	7766950.39	<0.01
3092969	518292.66	7766695.39	<0.01
3092971	517828.84	7766704.39	<0.01
3092986	517941.05	7766183.39	<0.01
3092987	517941.05	7766183.39	<0.01
3092988	517913.92	7766171.39	<0.01
3092989	517913.92	7766171.39	<0.01
3092990	518105.32	7766325.39	<0.01
3092991	517730.16	7766504.39	<0.01
3092995	517874.07	7766275.39	<0.01
3092996	517837.00	7766307.39	<0.01

Sample results provided to ABM by Newmont Asia Pacific as part of a regional exploration database. Sample locations have been verified, where possible in the field. Assays conducted by a combination of aqua-regia and fire assay methods for gold utilising several laboratories. Samples considered as "historic" where full details of methodology are not available and used as a guideline only.

APPENDIX 2. Resource Estimations

1. Old Pirate Resources Estimations

Table 1.1 Old Pirate Trend Overall High-Grade Mineral Resource Estimation January 2013

		Gold Grade	Gold Grade	Ounces Gold	Ounces Gold
Category	Tonnes	(g/t)	(g/t)
		(300g/t top-cut)	(uncut)	(300g/t top-cut)	(uncut)
Indicated	889,000	8.19	8.93	234,100	255,300
Inferred	993,000	11.80	14.67	376,900	468,500
Total	1,882,000	10.10	11.96	611,000	723,800

Mineral Resources estimated at 1g/t cut-off except for the Central Zone estimated at a 3g/t cut-off. Totals may vary due to rounding. There is an additional 414,900 tonnes averaging 1.74g/t gold for 23,300 ounces of gold in low-grade Indicated Resource in the Central Zone (>1g/t, <3g/t cut-offs).

For further information refer to ASX release dated 04/02/2013.

2. Buccaneer HGZ Resources Estimations

Table 2a. Combined Resource Estimation with no top-cut, using a 1g/t block model cut-off

	Tonnes	Gold $(g/t)$	Ounces
Indicated	7,117,000	2.25	515,300
Inferred	8,183,000	2.78	732,200
Total	15,300,000	2.54	1,247,500

Table 3a. Combined Resource Estimation with no top-cut, using a 2g/t block model cut-off

	Tonnes	Gold $(g/t)$	Ounces
Indicated	2,261,000	4.17	303,000
Inferred	3,573,000	4.56	523,500
Total	5,834,000	4.41	826,500

Note – totals may vary due to rounding

For further information refer to ASX release dated 05/02/2013.

Table 2b. Combined Resource Estimation using a variable top-cut, and a 1g/t block model cut-off

	Tonnes	Gold (g/t)	Ounces		Tonnes	Gold (g/t)	Ounces
Indicated	7,117,000	2.25	515,300	Indicated	7,117,000	2.00	458,500
Inferred	8,183,000	2.78	732,200	Inferred	8,183,000	2.43	639,700
Total	15,300,000	2.54	1,247,500	Total	15,300,000	2.23	1,098,200

		Table 3b. Combined Resource Estimation using a
		variable top-cut, and a 2g/t block model cut-off

	Tonnes	Gold (g/t)	Ounces		Tonnes	Gold (g/t)	Ounces
Indicated	2,261,000	4.17	303,000	Indicated	2,261,000	3.39	246,200
Inferred	3,573,000	4.56	523,500	Inferred	3,573,000	3.75	431,100
Total	5,834,000	4.41	826,500	Total	5,834,000	3.61	677,300

3. Twin Bonanza Global Resource (Old Pirate and Buccaneer)

Project	Tonnesall categories	Grade (g/t Au)all categories	Ounces gold
Old Pirate Trend	1,882,000	10.1	611,000
Buccaneer HGZ	5,834,000	3.61	677,300
Total	7,716,000	5.19	1,288,300

Table 3.1 Twin Bonanza Global Resource with Old Pirate at 1g/t cut-off & Buccaneer at 2.0g/t cut-off

Table 3.2 Twin Bonanza Global Resource with Old Pirate & Buccaneer at 1.0g/t cut-off

Project	Tonnesall categories	Grade (g/t Au)all categories	Ounces gold
Old Pirate Trend	1,882,000	10.1	611,000
Buccaneer HGZ	15,300,000	2.23	1,098,200
Total	17,182,000	3.10	1,709,200

Note – totals may vary due to rounding

For further information refer to ASX release dated 05/02/2013.