PRODIGY GOLD NL — Capital/Financing Update 2018

Mar 25, 2018

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ASX ANNOUNCEMENT / MEDIA RELEASE

ASX:ABU

26 March 2018

Capstan Drilling Program Commenced

HIGHLIGHTS

• 159 hole aircore drilling program commenced for the Capstan Target

• Capstan is along trend from the world class Callie deposit

• 8km bedrock gold anomaly to be infilled

• Drilling will also test several other highly promising gold prospects

ABM Resources (‘ABM’ or the ‘Company’) is pleased to announce that aircore drilling is underway at the Capstan Target. The Capstan Target, within the Bluebush Gold Project, is located in the Tanami Goldfields of the Northern Territory, 70km to the northwest of the world class Callie deposit.

A 159 hole aircore drilling program has commenced (Figure 1) to infill structural targets and gold anomalism intersected in the 2017 reconnaissance drilling campaign. During the 2017 campaign, 8 kilometres (Figure 2) of gold anomalism was outlined at Capstan (ASX 21 November 2017) including:

• 21m @ 139ppb Au from 15 m (BL0042) including 6m @ 347ppb Au from 15m

• 3m @ 202ppb Au from 45m & 6m @ 302ppb Au from 60m (BL0047)

• 6m @ 249ppb Au from 39m (BL0003)

The previous program confirmed the presence of quartz veining and alteration, with gold mineralisation in oxide and bedrock beneath large scale soil arsenic anomalies.

Managing Director Matt Briggs said “This is an exciting target to start off the drilling season. At Capstan there are a number of structural targets already delivering encouraging intersections from last year’s drilling. The current program aims to infill these and to better define the orientation of the gold bearing structures within the 8km long area of gold anomalism.”

“Other targets, including Indefatigable, will be tested as a part of this campaign. I look forward to seeing the assay results reported during the second quarter of 2018.”

Background

The Capstan Prospect is a priority target within the Bluebush Project, north of Trans-Tanami Fault Zone, and located 70km northwest of the world class Callie Gold Mine (Figure 3). The Dead Bullock Formation (host rock of Callie), folding and faulting complexity, and geochemical anomalism highlight the prospectivity of the area. Numerous structures have been interpreted with associated soil and shallow drilling anomalism. Large soil arsenic anomalies have not previously been bedrock tested. Previous drilling is commonly vacuum drilling which is often as shallow as 3 metres deep. These historic holes failed to penetrate transported cover or the leached weathering profile. Assuming a similar leaching depth to the Capstan Target, the majority of historical drilling is interpreted to be ineffective.

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Figure 1. Aircore drilling underway at the Capstan Prospect

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Figure 2. Capstan Target showing anomalism in drill holes and indicative drill collars

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Figure 3. Capstan Target Location Map

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Matt Briggs - Managing Director

About ABM Resources

ABM is an established gold exploration company with a successful track record of discovery in one of Australia’s premier gold mining districts. The Company owns gold resources and extensive prospective land holdings in the Central Desert region of the Northern Territory. The Company leadership has implemented a strategy of aggressive cost management initiatives and is developing a disciplined, tightly focused exploration strategy. Activities are currently focused on the Company’s under-explored 21,000km[2] Tanami Project area[1] and includes:

• Systematic evaluation of high potential early stage targets

• Drilling of advanced prospects on the Suplejack Project

• Assessment of existing resources and

• Exploring opportunities for joint ventures and divestment of early stage targets

Competent Person’s Statement

The information in this announcement relating to exploration targets and exploration results is based on information reviewed and checked by Mr Matt Briggs who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Briggs 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 2012 edition of the “Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves”. Mr Briggs consents to the inclusion in the documents of the matters based on this information in the form and context in which it appears.

1 Area managed by ABM excluding the Lake Mackay JV and North Arunta Projects

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