METEORIC DEFINES HIGH-PRORITY COPPER AND NICKEL TARGETS AT...

METEORIC DEFINES HIGH-PRORITY COPPER AND NICKEL TARGETS AT MIDRIM

 Re-interpretation of historical Midrim Project EM and aeromagnetic surveys completed
 19 untested targets identified, including 7 high-priority targets and possible extensions to Midrim Cu-Ni-PGE mineralisation
 Targets are present as near surface responses interpreted to be shallow drilling targets
 Midrim associated EM responses extend over 500m
 Ground geophysical program at Midrim approved, to commence within two weeks
 DHEM surveying planned to assess potential for extra mineralisation at **bro North, Midrim Project.

Canadian focused Cu-Ni-Co-PGE explorer Meteoric Resources NL (ASX: MEI; “Meteoric” or the “Company”) is pleased to announce reinterpretation of historical MegaTEM airborne electromagnetic and high-resolution aeromagnetic surveys over the Baby Segment of the Belleterre-Angliers greenstone belt has identified new targets at the Company’s Midrim Project in Quebec, Canada.

The reinterpretation was performed by Perth-based geophysical consultancy Core Geophysics (“Core”), which has extensive experience in nickel, copper and Platinum Group Elements (PGE), having worked on similar projects in Australia, Canada and Africa. Modern reprocessing and inversion completed by Core has delineated 19 targets considered as prospective for nickel and copper mineralisation. Of these, seven are considered high-priority targets and include possible extensions to the mineralisation at the Midrim Project (Figure 1).

The interpreted MegaTEM targets all present as discrete, near-surface responses such as those previously identified at Midrim, suggesting the new targets will also form shallow drilling targets. The high-priority MegaTEM targets are coincident with magnetic anomalies that are interpreted to represent prospective **bro units such as those hosting the mineralisation at Midrim.

At Midrim, the dominant EM response is oriented approximately east-west and is seen to extend over 500m (Figure 2). Figure 2 shows the EM responses are closely related to discrete magnetic anomalies associated with known **bro. A Canadian exploration firm, Superior Diamonds, flew a high-resolution, 75m line-spaced aeromagnetic survey over the same area in 2004. The reprocessed magnetics indicates **bro is more widespread than previously thought, including in the extensions to Midrim (Figure 3). This new information will be fed into a revised geological and structural model for Midrim and could delineate further mineralisation.

Ground-Based Geophysical Surveys and Drilling at Midrim Cu-Ni project Deeper extensions to the known mineralisation at Midrim will be targeted by utilising modern high-powered surface and drill hole (DHEM) electromagnetic surveys (Figure 4). Surprisingly, no previous surface electromagnetic surveys and only eight DHEM surveys (conducted in 2000) have been completed at Midrim. Meteoric will employ modern high-powered transmitters and B-field receivers, along with similar down-hole WWW.METEORIC.COM.AU • ASX: MEI •ABN 64 107 985 651 equipment, to fully energise and detect massive sulphide mineralisation.

DHEM will provide the Company with the opportunity to view any conductive bodies, such as mineralisation, at least 200m below the deepest drilling at Midrim. Survey contracts have been signed and the work is due to commence within two weeks. Figure 1: MegaTEM Image db/dt X Channel 5 showing target outlines in blue, and high priority targets in red, with claim outline shown in black and major roads grey. To assist with the geophysical programme, Meteoric will ream out three historical drill holes (MR-01-23; MR-01- 48 and MR-02-82) for DHEM surveying.

Surveying of MR-01-48 will provide the Company with vital targeting information on the MegaTEM anomaly at Midrim West (Figures 2 & 3). The most exciting target for DHEM surveying includes the North **bro target which includes the historical intersection of 1.2m @ 1.7% Cu, 0.8% Ni contained in hole MR-02-82 at vertical depth of approximately 460m (Figure 2 right & 3).
The DHEM should energise the mineralisation on the southern side of the **bro and provide a very strong vector for drilling. Midrim WWW.METEORIC.COM.AU • ASX: MEI •ABN 64 107 985 651 Figure 2:

Comparison of MegaTEM response to magnetics at Midrim, showing Left – MegaTEM db/dt X Channel 5 (colour stretched to window) and Right – Total Magnetic Intensity with collar locations, **bro and anomaly outlines. Figure 3:

Total Magnetic Intensity highlighting known magnetic **bro at Midrim and interpreted **bro pods extending west along controlling structure. Midrim Midrim Lac Croche Lac Croche Known **bro Midrim Midrim Lac Croche Known **bro Lac Croche Midrim Lac Croche Midrim Inferred **bro WWW.METEORIC.COM.AU • ASX: MEI •ABN 64 107 985 651 Figure 4: Proposed electromagnetic loop layout for surface and DHEM surveying at Midrim Next Steps: -

Meteoric is finalising a drill program targeting the Midrim Cu-Ni-PGE deposit as well as surrounding targets. - A metallurgical study is underway to test recoveries from Midrim-style mineralisation. - Field work is currently underway on the Mulligan and Iron Mask primary cobalt projects in Canada.

Looks good for a bounce on that news.