Meteoric Resources NL : Significantly Expanded Polymetallic Opportunity Identified a

21 August 2017

Significantly Expanded Polymetallic Opportunity Identified

Meteoric Resources' Canadian based Geological consultants, Orix Geoscience, have completed an initial regional data compilation on the Baby Segment of the greater Belleterre-Angliers Greenstone Belt (BAG), this area hosts Meteoric's Midrim property. During the compilation process a number of technical reports produced by Falconbridge Limited (Falconbridge) (acquired by Xstrata/Glencore) were located. The reports identify a large scale, high grade resource opportunity within the greater BAG area. Compilation of findings are below:

• 4km x 1km Underlying Metal Sulphide Source Within the BAG there are numerous Ni-Cu±PGE sulphide occurrences hosted within Gabbro Sills. It is interpreted that the Geoffrey Anomaly, which forms as a deep, flat lying electromagnetic conductor, measuring 4km x 1km, is the feeder to a swarm of mineralised Gabbroic Sills
• Gabbro Sills The Midrim property is one of several such drill proven Gabbro Sills within the Baby Formation segment of the BAG, which also includes the adjacent Alotta, Delphi, Patry, & Zullo projects
• 36 Geophysical Targets Identified Each of the above Gabbro Sills forms as one of 36 airborne electromagnetic conductors Falconbridge identified from a 2001 MEGATEM survey over the Baby segment of the BAG. 11 of these targets are hosted within Meteoric's Midrim project
• 80% Hit Rate Only 6 of the identified electromagnetic conductors have been drill tested by Aurora Platinum and Fieldex Exploration, with 5 (or >80% hit rate) containing significant high grade intersections of nickel, copper, cobalt and PGE enrichment
• Falconbridge Targeted Numerous 3-5Mt Polymetallic Deposits Falconbridge stated that the Baby Formation had the "Excellent prospect for several 3-5Mt high grade (1.5% Ni, >1% Cu and >2 g/t PGE) semi-massive sulphide Gabbro Sills close to surface within a small area" 1

• Evidence of Production Scale Production records for a single small scale Gabbro Sill (600kt - Lorraine mine) located within the BAG stated that 14.28 Million pounds of copper & 6.34 million pounds of nickel was recovered within a 3 year period. LME price per pound as at 18th of August 2017 for copper is US$2.89 and nickel is US$4.792

"The initial regional data compilation we have completed provides a valuable collation of the geologic opportunities within the Belleterre-Angliers Greenstone Belt (BAG). Falconbridge Ltd was one group to assess the numerous high grade opportunities that Aurora Platinum Corp explored in the early 2000's within the Baby segment of the BAG. Any program to consolidate the regional projects ended a decade ago, which has now provided the opportunity for Meteoric to reconsolidate the district and implement their strategy of the development of multiple shallow, high grade, gabbroic sills."

Shastri Ramnath, CEO of Orix Geoscience

1. Hrominchuk, J., 2001 - Falconbridge Exploration Memorandum (12/11/01)

2. Based on Copper and Nickel LME quoted spot prices as at 18/08/2017, Mazur,R 2002, Midrim Property Baby Township Quebec, NI43-101, Aurora Platinum

BELLETERRE-ANGLIERS GREENSTONE BELT POLYMETALLIC PROJECTS

Geology and Mineralisation

The Midrim and La Force properties (Figure 1) are located within the Archean Belleterre-Angliers Greenstone belt (BAG). The BAG consists of three separate segments (from north to south): the Baby, Belleterre and Lac des Bois which crop out intermittently over a length of 40 km.

Figure 1.

Temiscamingue Regional Geology Belleterre - Angliers Greenstone Belt

Greenstone Belt Lithology

Metallic Mineral Deposit

Mafic Volcanics

Gabbro

Ni, Cu ± PGEs ± Co

Cu ± Ni ± PGEs

Au

The BAG is believed to be an allochthonous detached volcanic arc fragment structurally overlying the Pontiac Group sedimentary wedge. Structural, sedimentological and seismic data indicates that the Pontiac sediments and arc fragments comprise an accretionary wedge partly thrust below and separated from the Abitibi belt by the Cadillac - Larder Lake fault, an important structure that extends over a distance of more than 100 kilometres along an east-west axis.

The Gabbro sills, which host Ni-Cu-Co-PGE mineralisation, are Archean in age and generally intrude at the compositional break between felsic and underlying mafic volcanic rocks. Felsic volcanic rocks are generally domes, breccias and pyroclastic fragmentals with minor tuff and volcaniclastic sediments.

The Ni-Cu-Co-PGE mineralization is generally associated with magnetite-rich Gabbro sills and ultramafic rocks that contain disseminated sulphides in the upper part and massive sulphide accumulations at their base. Mineralisation in Gabbro is generally restricted to their lower portion where they are in contact with mafic volcanics. The sulphides are recrystallised into course blobs, veinlets and veins dominantly occurring as pyrite, chalcopyrite with lesser pyrrhotite, millerite and violarite. The stratigraphy and geochemistry of the belt suggest that it is a rifted island arc and that the Gabbros which contain the Ni-Cu sulfides were derived from the mantle plume that rifted the island arc.

Exploration Potential

Within the BAG there are a number of Ni-Cu±PGE sulphide occurrences associated with synvolcanic Gabbro derived from a mantle plume that rifted the island arc. The Midrim, Lac Croche and La Force properties are three of several such drill proven occurrences, which also include Alotta, Delphi, Patry, and Zullo (Figure 2.) located within the Baby Segment.

Alotta

Figure 2.

Temiscamingue Regional Baby Segment

Metallic Mineral Deposit

Ni, Cu ± PGEs ± Co

Mining Claims

Meteoric Resources

Greenstone Belt Lithology

Mafic Volcanics

Gabbro

With the exception of La Force, each of the above prospects forms as one of thirty-six (36) interpreted airborne electromagnetic conductors from a 2001 MEGATEM survey over the Baby segment of BAG. The previously referred to Geoffrey Anomaly1, which forms as a deep, flat lying electromagnetic conductor, measuring 4km x 1km, may represent a possible feeder to a swarm of temporally and spatially constrained mineralised Gabbroic sills present in the region. Falconbridge recognised this resulting potential by stating the area had "the excellent prospect of developing several 3-5mt high grade semi- massive sulphide deposits close to surface within a relatively small area." 2

A similar exercise is yet to be considered for the BAG's Belleterre and Lac des Bois segments, as both have proven mineral exploration prospectivity. For example, 14.28 million pounds of copper and 6.34 million pounds of nickel was extracted from 600,000 tonnes of ore between 1965 and 1968 at the Lorraine copper-nickel mine in the Lac des Bois segment3; whereas the La Force deposit highlights the existing prospectivity in the Belleterre segment.

1. See ASX Announcement: Due Diligence Update Positive Field Outcomes Midrim Project (15/6/2017)

2. Hrominchuk, J., 2001 - Falconbridge Exploration Memorandum (12/11/01)

3. Doucet, P., 2002. The Témiscamingue region: a high-potential sector for nickel, copper, cobalt and platinum group elements. Geology 3

Québec

Local Targets Midrim

Falconbridge interpreted the Midrim deposits as forming part of a more extensive structurally disrupted sill. The target Gabbro crops out in the southern parts of the property where the stratigraphy is exposed at a deeper structural level. The less prospective leucogabbro and diorite, which potentially lies over mineralised mafic gabbro, crops out in the northern portion of the property.

The structural pattern of the property, as interpreted from the airborne magnetic imagery, is consistent with the observed spatial distribution of gabbro and other mafic intrusives within other parts of the BAG further highlighting the exploration prospectivity.

Meteoric Strategy

Meteoric, like Falconbridge, see significant upside in targeting and "developing several 3-5mt high grade semi-massive sulphide deposits close to surface within a relatively small area." The company has benefited from receiving Falconbridge's 36 interpreted EM targets, where 5 of the 6 tested targets (>80% hit rate) produced material drill intersections and 3, thus far, producing significant viable mineralisation.

The EM targets all lie within the Baby segment of the BAG, with regional electromagnetic surveys yet to be considered for the Belleterre and Lac des Bois segments. A thorough survey compilation and re- evaluation of all geophysical data across the BAG with a view to identifying further opportunities is currently being completed. In addition to above the nature of the BAG lends itself to the rapid application of geochemical methods to distinguish between mineralised and unmineralised gabbro.

Post the finalisation of the compilation the Baby segment will be fully targeted and this will provide Meteoric with several near term exploration opportunities. In addition the re-evaluation of the available geophysical information will provide numerous further prospects throughout the remainder of BAG, where economic mineralisation is already proven (e.g. the Lorraine and La Force deposits). Given all of the available technical information the company has a unique opportunity to rapidly ascertain the mineral prospectivity of its projects and efficiently build the resource base.

Contact

Graeme Clatworthy T [phone]

Executive Director E [e-mail]

Competent Persons Statement

The information in this announcement that relates to the Midrim and La Force projects are 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 NL. 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.