PRODIGY GOLD NL — Capital/Financing Update 2016

Apr 11, 2016

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ASX ANNOUNCEMENT / MEDIA RELEASE

ASX:ABU

12 April 2016

Old Pirate Gold Mine – March 2016 Production Update

ABM Resources NL is pleased to provide an update on operations at the Old Pirate Gold Mine during March 2016.

During March 2016, tonnage mined, tonnage processed and gold produced were all higher than any previous month. Gold production was assisted by higher than forecast mill feed grades brought about by the mining and processing of material that had been scheduled for February, but was delayed due to rain.

Mining was completed just prior to month end with all pits reaching final depth and five metre “good bye cuts” excavated on retreat providing some additional mill feed. Processing of stockpiles at the Coyote plant is scheduled for completion by mid-April. Gold production has already exceeded the 1 December 2015 to mine end target of 12,000 ounces set in the revised mine plan (ASX 24 December 2015).

Project to date mine production, plant throughput and recovered gold are shown in the graph below, with production details summarised in the table following.

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Old Pirate Production to 31 March 2016
27,500 4,000
25,000
3,500
22,500
3,000
20,000
17,500 2,500
15,000
2,000
12,500
10,000 1,500
7,500
1,000
5,000
500
2,500
0 0
Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
Tonnes Mined Tonnes Milled Gold Recovered
Tonnes Mined/Milled
Ounces of Gold Recovered
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As demobilisation from the Old Pirate Gold Mine takes place, the Company is proceeding with reestablishment of the Wilsons Camp as an exploration base and is arranging logistical support for the 2016 field season.

2016-2017 Work Program

A group of highly experienced exploration professionals comprising Dr Scott Halley, Lead Consultant Geochemistry, Dr John Beeson, Lead Consultant Structural Geology and Mr Greg Hall, Lead Consultant Generative Geology, are working with the Company’s geologists to prioritise exploration targets and develop targeted exploration programs. Our geologists are designing a systematic predictive approach to exploration based on structural geology and multi-element geochemistry to maximise effectiveness and efficiency of the on-ground programs and make the best use of every exploration dollar expended.

• In 2016 and 2017 ABM’s work program will focus on:

• Generating value from existing gold resources at Buccaneer, Old Pirate and Hyperion

• Further exploring advanced targets, in particular the highly encouraging Suplejack Trend

• Exploration of high potential early stage prospects, such as Wild Turkey and Indefatigable

Signed

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Brett Lambert

Managing Director