PRODIGY GOLD NL — Capital/Financing Update 2015

Feb 18, 2015

ASX ANNOUNCEMENT / MEDIA RELEASE ASX:ABU

19th February 2015

Successful Share Placement and Underwriting of Entitlement Offer

• $5M share placement
• $7.7M entitlement offer fully underwritten
• ~$26M in equity funds (including current cash reserves and new funds) available to progress the Old Pirate High-Grade Gold Project into production and to enable an extensive near-mine and regional exploration program.

Placement and Non-Renounceable Rights Issue

The Board of Directors of ABM Resources NL (Company) is pleased to announce that it has undertaken a placement of approximately 22.7 million shares at an issue price of $0.22 per shares to raise approximately $5 million (Placement).

The Placement will be followed by a fully underwritten non-renounceable rights issue of one fully paid ordinary share in the capital of the Company (Share) for every eight Shares held by eligible shareholders at an issue price of $0.22 per Share to raise up to approximately $7.7 million (Offer or Rights Issue).

The Placement was strongly supported by a number of Australian and Asian institutional investors. In addition, existing shareholders Pacific Road Capital Management and APAC Resources have committed to subscribe for their full entitlements under the Offer. The Offer has been fully underwritten by the Joint Lead Managers.

ABM's Managing Director, Darren Holden said "We are delighted with the strong support for the Company from both ABM's longstanding shareholders and new investors. Completion of the Offer will strengthen ABM's balance sheet as we enter the critical construction and commissioning phase at Old Pirate. It will also enable us to develop a strong near-mine and regional exploration program from the beginning of the 2015 field season. We greatly appreciate the support of all our shareholders as we enter this exciting phase of our development and we look forward to the participation of our eligible shareholders in the Offer."

Furthermore, the Company has also agreed to make provision for an additional placement to Pacific Road Capital of approximately 6.8 million Shares to raise a further $1.5 million which will enable Pacific Road to increase its holding back to its original investment level of 19.9% (Additional Placement) as its entitlement under its original subscription agreement with the Company.

Argonaut Capital and Canaccord Genuity acted as joint lead managers and joint bookrunners to the Placement and underwriters to the entitlement offer (together the "Joint Lead Managers").

The funds raised pursuant to the Rights Issue which, when combined with the proceeds from the Placement and Additional Placement, will raise a total of $14.2 million and are planned to be used for development and commissioning costs to bring the Old Pirate gold project into production, near-mine and regional exploration, and general working capital.

Summary of the Share Placements

The placements comprise:

• (a) a Placement of 22,727,273 Shares at an issue price of $0.22 per Share (Issue Price) to raise approximately $5 million (before the costs of the Placement); and
• (b) an Additional Placement of 6,830,808 Shares at the Issue Price to raise approximately $1.5 million (before costs).

The Placement is being made under the Company's 15% annual issuing capacity for the purposes of ASX Listing Rule 7.1 and therefore shareholder approval for the Placement shares is not required.

Summary of the Rights Issue

The Rights Issue comprises the offer of one fully paid ordinary share in the capital of the Company for every eight Shares held by eligible shareholders at an issue price of $0.22 per Share to raise up to approximately $7.7 million (before costs of the Offer).

Up to approximately 34.8 million Shares will be issued pursuant to the Rights Issue. Shares issued under the Rights Issue will rank equally with Shares which the Company currently has on issue. Shareholder approval is not required in relation to the issue of Shares pursuant to the Rights Issue.

The Rights Issue is fully underwritten, subject to certain terms and conditions, by Argonaut Securities Pty Limited and Canaccord Genuity (Australia) Limited.

Further details of the Rights Issue, including details of the timetable, underwriting arrangement and key risks of the Rights Issue, will be set out in an Offer Document which is expected to be released to the ASX and will also be made available on the Company website at www.abmresources.com.au.

Outlined below is a timetable of relevant events and dates relating to the Rights Issue and Placement. These dates are indicative only and subject to change.

Event	Date
Trading Halt	17 February 2015
Placement Offer Opens	17 February 2015
Announcement of Offer (before market opens)Placement Closes (before market opens)	19 February 2015
Release of Offer Document and Cleansing Notice to ASX(before market opens)	19 February 2015
Appendix 3B lodged with ASX (before market opens)	19 February 2015
Trading Resumes	19 February 2015
Notice sent to Shareholders	23 February 2015
Ex date (date from which securities commence tradingwithout the Entitlement to participate in the Offer)	24 February 2015
Placement Settles	25 February 2015
Record Date(date for determining Entitlements ofEligible Shareholder to participate in the Offer)	26 February 2015
OfferDocumentandpersonalisedEntitlementandAcceptance Forms sent to Shareholders	3 March 2015
Last day to extend the Offer Closing Date	10 March 2015
Closing Date (Offer closes)	5.00pm (Perth time)13 March 2015
Securities quoted on a deferred settlement basis	16 March 2015
Notification to ASX of Shortfall	17 March 2015
Issuedate/NewSharesenteredintoShareholders'holdings	20 March 2015

* Subject to the ASX Listing Rules, the Directors reserve the right to extend the Closing Date for the Offer at their discretion. Should this occur, the extension will have a consequential effect on the anticipated date of issue for the new shares.

** These dates are indicative only and are subject to change.

Yours sincerely

Darren Holden – Managing Director