PRODIGY GOLD NL — Capital/Financing Update 2015

Mar 12, 2015

ASX ANNOUNCEMENT / MEDIA RELEASE ASX:ABU

13th March 2015

Update on the Development of the Old Pirate Gold Deposit

Progress from the Old Pirate High-Grade Gold Deposit Development:

• Access (haulage) road has been upgraded.
• Camp upgrade including new accommodation and kitchen / mess installed.
• Top soil clearing of mining areas and waste rock dump areas complete.
• Waste rock mining (pre-strip) commenced.
• Ore mining commencing shortly.
• Coyote Gold Plant refurbishment underway with commissioning expected in May 2015.

Figure 1. Mining at Old Pirate underway

ABM Resources NL ("ABM" or the "Company") is pleased to announce an update on the development of the Old Pirate High-Grade Gold Deposit.

Coyote Plant Refurbishment

ABM Resources is accessing the Coyote Gold Plant under agreement with Tanami Gold NL (refer announcement 07/07/2014). Como Engineering is on-site and has commenced the refurbishment work on the Coyote Plant. Refurbishment work involves cleaning of screens, upgrading of conveyor belts, work on the leach tanks as well as general maintenance. This work is going to plan and on schedule.

Figure 2. Removing screen above leach-tanks for cleaning and maintenance

Site Works

Figure 3. Mining / pre-strip at Old Pirate

Resource Mining Pty Ltd (our mining contractor) has mobilised to site and site-works are well advanced. The waste rock and initial mining footprint areas have been cleared and the pre-strip mining of waste has commenced. Some surface ore has been moved and stockpiled on the newly formed ROM pad area with mining of ore expected to commence in earnest within 3 weeks.

Figure 4. First ore on to the ROM pad

The access road to site has been graded and upgraded. This road will be used as the haul road to the Coyote Gold Plant.

Figure 5. Access (haulage) road graded and prepared

Figure 6. New accommodation arrived and installed on site

The commissioning of the Coyote Gold Plant and first ore processing is expected during May 2015.

About ABM Resources

ABM is 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 production scenarios such as the Old Pirate High-Grade Gold Project, large scale discoveries such as Buccaneer, and regional exploration discoveries such as the Hyperion Gold Project. In addition, ABM is committed to regional exploration programs throughout its extensive holdings including the alliance with Independence Group NL at the regional Lake Mackay Project.

Figure 7. ABM's land position in the Central Desert

Signed

Darren Holden – Managing Director