Meteoric Resources NL : Midrim XRF and Chemical Assay Verification Program a

24 July 2017

MIDRIM XRF AND CHEMICAL ASSAY VERIFICATION PROGRAM

XRF and chemical assays verify high grade intercepts

Due diligence verification program has confirmed historical assay values

Further assaying of untested core

Available untested zones of historical drill core to be assayed post completion of acquisition

PGE potential identified

Review of historical information reveals significant platinum and palladium values confirming the polymetallic nature of the Midrim targets

20.3m @ 2.92% Cu - 1.81% Ni - 2.68g/t Pt/Pd

Extensive shallow zones of mineralisation identified from historical assayed drill logs, hole no. MR00 -01. Including 11.94m at 3.64% Cu, 2.27% Ni and 3.36g/t Pt/Pd

1.1 m @ 5.41% Cu - 1.7% Ni - 5.15 g/t Pt/Pd

High Grade intercept from 2001 Aurora Platinum drill program, hole no. MR01-30

Core sample from MR00-01 displays semi-massive sulphide zone. Mineralisation consists of mainly pyrite, pentlandite, chalcopyrite and pyrrhotite.

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Midrim XRF and chemical assay verification

An X-ray Fluorescence (XRF) verification program of historical drill core held at the Laverlochere based core library has been conducted. The program was undertaken to validate historical assays conducted by Fieldex Exploration and Aurora Platinum, and to confirm the efficacy of XRF in the further assessment of the Meteoric project portfolio.

The verification program included the re-assay via XRF of the historical mineralised intercepts contained in several drill holes: MR00-01, MR00-02, MR00-03 and MR01-39. The selected holes provide a balanced representation of high grade sulphide zones, host gabbro and country rock values. Two or three readings per corresponding sample interval were taken and averaged; where an interval carried more than one historical sample an average of the historical assay results was used. An Olympus Delta Professional operating in soil mode with a read time of 45 seconds was used for each test.

The XRF results confirmed the mineralised extent of massive sulphide zones in holes MR00-01 and MR00-02. The evident correlation between XRF and historical assay support the use of XRF in Meteoric field programs going forward. Improved resolution and accuracy in the XRF will be achieved through calibrating against locally prepared standards.

Additional testing of previously under- or un-assayed core will be undertaken early within the preliminary exploration program in order to identify further extents of mineralisation.

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%

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Cu CuHistorical Ni NiHistorical

10 15 20 25 30

DEPTH (M)

Comparison of historical assay vs XRF verification program values conducted on hole MR00-01 from the 2001 Aurora Platinum drill program.

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PGE potential identified

Further investigation of the historical assays and reports has revealed significant platinum and palladium mineralisation associated with the Cu-Ni values within the Midrim polymetallic targets. The presence of high PGE values dramatically increases the economic potential viability of the targets.

The gabbro associated deposits of the Angliers-Belleterre Greenstone Belt are referred to as magmatic sulfide-rich Ni-Cu±PGE deposits. Among such deposits, two main types are distinguishable. In the first, Ni-Cu sulphide, Ni and Cu are the main economic commodities. These occur as sulphide-rich ores that are associated with differentiated mafic and/or ultramafic sills and stocks, and ultramafic (komatiitic) volcanic flows and sills. The second type is exploited principally for PGE, which are associated with sparsely dispersed sulphides in very large to medium-sized, typically mafic/ultramafic layered intrusions. The deposits within Meteoric's Temiscamingue project areas are associated with the prior and are similar in nature to world class deposits such as Voisey's Bay.

Some of the notable PGE intercepts from the 2000-2001 Aurora Platinum drill program include:

Maximum values intercepted:

Depth (m)	Length (m)	Pt/Pd Gram/tonne	Cu %	Ni %
MR01-30	10.9	1.1	5.15	5.41	1.7
MR00-11	23	1	4.41	4.74	2.66

Large extent int

ercepts

Elevated PGE mineralisation has also been encountered over large extents of the Midrim targets.

Depth (m)	Length (m)	Pt/Pd Gram/tonne	Cu %	Ni %
MR00-01 Including	15.5 21.4	20.12 11.94	2.68 3.36	2.92 3.64	1.81 2.27
MR01-29	17.6	17.85	2.53	2.16	1.55

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Upcoming work

The company is currently completing a regional compilation of data covering the Temiscamingue area. The focus of this work is to further delineate structural controls on mineralisation as well as identifying additional targets and project opportunities within the Belleterre-Angliers Greenstone belt

Contact:

Graeme Clatworthy Executive Director

T [phone]

E [e-mail]

Competent Persons Statement

The information in this announcement that relates to the Midrim Project is based on information compiled and fairly represented by Mr Jonathan King, who is a Member of the Australian Institute of Geoscientists and a consultant to Meteoric Resources Limited. Mr King, a fulltime employee of Collective Prosperity Pty Ltd, has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he has undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr King consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.

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