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QUARTERLY REPORT

For the 3 months ended 30 September 2015

Highlights from Old Pirate Gold Mine (Twin Bonanza Gold Project)

• Four pits being developed concurrently

• Completed commissioning of the Coyote Processing Plant

• 10,013 ounces of gold produced to 30th September 2015

  • Comprising 8,281 ounces sold and 1,732 ounces in circuit

• $1568 average price received to date

• Declaration of commercial production as of 1 October 2015

  General

• Unhedged & debt free*

• $10.5M in cash and equivalents (gold)

  Other highlights

• Returned high-grade drill intercepts from near-surface at Buccaneer including:

  • 19 metres @ 5.83g/t gold

• Completed metallurgical test work at Buccaneer with extraction of:

  • >95% gold

• Intersected new mineralized zones at Hyperion East with:

  • 9 metres @ 5.77g/t gold

• Added further strong results from Hyperion Central including:

  • 21 metres @ 4.42 g/t gold

• Discovered** potential new mineral field at the Bumblebee Prospect:

  • 7 metres @ 3.3g/t gold, 37.7g/t silver, 3.2% copper, 0.9% lead, 1.3% zinc and 0.08% cobalt

* ABM has an undrawn working capital facility with ANZ, and a utilised environmental / performance bonding facility

**Work completed by Independence Group NL in partnership with ABM Resources NL and announced subsequent to quarter end.

Old Pirate High-Grade Gold Deposit (Old Pirate Gold Mine)

Mining Operations

The Old Pirate Gold Mine (Old Pirate) is part of the Twin Bonanza Gold Project located in the Northern Territory. Gold bearing rock is extracted from the Old Pirate open pits and is hauled to the Coyote Processing Plant for treatment.

During the Quarter, mining, haulage and processing of material from the Old Pirate Gold Project continued to be ramped up. Four open pits are being developed concurrently, which are Golden Hind, Old Pirate South, Old Pirate Central and the Western Limb.

As of the end of September 2015, approximately 51,000 tonnes of mineralised material had been mined from all four pits (project to date including mining in May and June 2015) with an unreconciled mine- call grade of 10.8g/t gold (including low-grade material used for commissioning the processing plant).

Figure 1. Old Pirate Gold Mine at Twin Bonanza Gold Project - view north

Coyote Processing Plant Operations

The Coyote Processing Plant is being utilised by ABM under a lease agreement with Tanami Gold NL (announced 7 July 2014). The plant is now fully operational and operating at a capacity of between 600 and 700 tonnes per day processed on a 2 weeks on / 1 week off campaign basis. Gold is being extracted via both the gravity and the carbon-in-pulp (CIP) circuits.

As at the end of September 2015, a total of 41,000 tonnes of Old Pirate material had been processed through the Coyote Processing Plant, which included low-grade material used for commissioning the processing plant (announcement of 16 July 2015). From this material, 8281 ounces of gold had been recovered and a further 1732 ounces was in the carbon circuit pending stripping, thus indicating an overall mill-accounted grade of 7.6g/t gold.

The processing plant metallurgical recoveries have been excellent with tails grades 80% and excellent leach kinetics in the CIP circuit for an overall processing plant recovery of >99%.

Mine to Mill Reconciliation

As outlined in the Operational Update released on 21 September 2015, mine estimated head grade has exceeded the mill reconciled head grade. Reported gold production to 30 September 2015, together with gold lost to tailings, represents approximately 70% of the gold estimated to be contained in mill feed based on grade control data. This has resulted in gold available for sale during this period not meeting guidance.

A significant component of the difference between recovered gold and mine estimated production is considered to be a result of the lock-up of coarse gold in various gravity traps within the plant including behind the ball mill liners, in pump boxes and in sumps.

Gold lock-up routinely occurs during the commissioning and early operating period of gold treatment plants and is particularly evident where there is a very high proportion of coarse gravity recoverable gold present, such as at the Old Pirate Gold Mine. This high proportion of coarse gold is also the reason for Old Pirate's excellent metallurgical recovery properties. It is of note that the Company also initially experienced considerable gold lock-up during the previous trial mining exercise in 2013.

The quantity of lock-up is not easily estimated during operations, and can only be properly accounted for once the plant is shut down and all the gravity gold traps in the circuit can be accessed and cleaned out to recover the coarse gold component. However, over time the amount of gold being locked up can be expected to plateau as the natural gravity traps fill to capacity.

Other factors could affect the mine-call factor, such as statistical or grade sampling bias, however the Company initiated independent reviews of grade-control practices and processing plant operations and no material deficiencies in the operations were identified. Mine to mill reconciliation is continuing to be closely monitored to ensure appropriate operating practises are maintained and appropriate grade estimation techniques are employed.

Declaration of commercial production

The achievement of commercial production is generally the stage at which a mining company transitions from a development phase (where all expenses are largely capitalised) into a steady state operational phase where most expenses, if not all (except for specifically identified capital expenditure items), are treated as operating costs. With the mine versus mill grade reconciliation variance (including the gold lock-up) noted above, the Company announced on 21 September 2015 that it was not yet in commercial production.

Subsequent to the quarter end and a review of the production to date, along with the fact that the project is generating a positive cash flow on a month by month basis, commercial production is being declared from 1 October 2015.

About the Old Pirate High-Grade Gold Deposit

The Old Pirate High-Grade Gold Project, which is part of the wider Twin Bonanza Gold Project, consists of a series of gold-bearing quartz veins with an overall strike-length of ~1.8 kilometres. Veins range from a few centimetres to zones greater than 6 metres in width with individual veins varying in grade and width along strike. Quartz veins are both parallel with stratigraphy, preferentially following shale horizons in an overall anticline structure, and also cross-cut stratigraphy following shear-zones and other structures.

Gold is characterised as both fine and coarse, and along with the variable width, the project has a high statistical nugget effect, whereby low-grade drill-hole intercepts can often be located within known high-grade structures, which increases uncertainty in modelling. Multiple samples from the same location, or re-assaying of duplicate samples, can produce highly variable results. Hence drilling alone cannot generally provide statistical and geometric information required to define a long-term and detailed mine plan. As a result of the geological factors, the project does not have an Ore Reserve and hence ABM applies a risk managed staged approach to development at Old Pirate. This means capital

expenditure is deployed sequentially and each stage of development informs the next stage. The first stage was trial mining completed in early 2014. ABM is now developing the second stage with full scale open pit mining and processing operations. These stages are based on Mineral Resource estimates (rather than Ore Reserves) with regular revisions to the near-term mine planning and modelling (announcements of 30 September 2014).

EXPLORATION

Twin Bonanza Gold Project - Extensional Exploration

The Twin Bonanza Gold Project includes ABM's Old Pirate High Grade Gold Deposit and the Buccaneer Porphyry Gold Deposit and more than 50 individual targets and prospects (Figure 2).

ABM has completed a 15,000 metres drill program targeting near-surface deposits capable of extending and expanding the Company's production from the Old Pirate Gold Mine. With the exception of the Buccaneer Porphyry Gold Deposit, these targets have never before been adequately tested with drilling. Targets were selected based on the presence of high-grade gold-bearing quartz veins at surface, soil samples anomalous in gold and arsenic and geological structure.

This program was an aircore / slim line RC drill program to a maximum depth of 120 metres and an average depth of 70 metres, testing targets including the Bandit and Bandit South Prospects, the Casa Prospect, the Black Cat Prospect, the Vampire Prospect and near-surface higher grade targets within the Buccaneer Porphyry Deposit.

Figure 2. Twin Bonanza Gold Project deposit and prospect location map

Buccaneer Porphyry Gold Deposit Drilling

The Buccaneer Porphyry Gold Deposit contains a total Mineral Resource estimate of 15.3 million tonnes averaging 2.23g/t gold for 1.1 million ounces of gold (Indicated and Inferred Resource categories - refer Appendix 1). The Mineral Resource estimation was based on several drilling campaigns undertaken by ABM and previous explorers and consists of widespread drilling focusing on large-scale, low-grade mineralisation. There are, however, several near-surface targets within the mineralised envelope that have the potential to yield smaller tonnage and higher grade mineralised zones. These zones are being

targeted to potentially add production to the Old Pirate High-Grade Gold Mine, from which the Company is currently processing material at the Coyote Processing Plant. The first round of results from this program was announced on 10 July 2015 and included 19 metres averaging 5.82g/t gold.

Figure 3. Buccaneer main zone drill plan

Further drill results from Buccaneer holes drilled towards the south-west and targeting a shallow (25 to 40 degree) north-east dipping zone in the near surface environment were releases on 9 September 2015. Mineralisation in this upper zone has been defined at over 600 metres strike length, with widths between 5 and 30 metres and extending from the near surface to >100 metres down dip. Full assay results can be found in the announcement dated 9 September 2015.

On 17 August 2015, ABM announced preliminary metallurgical test-work results from Buccaneer which included gold extraction using both positive conventional cyanide leaching and heap leaching test-work.

ABM will review the latest drill results in the context of both processing methods to establish the best path forward through appropriate project evaluation studies.

Drilling on other prospects

Drilling was also undertaken at the Black Cat Prospect located ~22 kilometres south west of the Old Pirate Gold Mine, the Casa Prospect located 11 kilometres south east of the Old Pirate Gold Mine and the Vampire Prospect located 15 kilometres north east of the Old Pirate Gold Mine.

At Black Cat, drilling targeted areas beneath a number of outcropping quartz veins (with visible gold) and areas of historic shallow drilling with anomalous results. The best result returned was 3 metres averaging 9.18g/t gold. Current drill results define a trend of mineralisation over 700 metres of strike length.

At Casa, the drilling targeted areas beneath widespread, anomalous surface geochemistry. The best result (3 metres averaging 3.52g/t gold) was in the most northerly hole and hence potentially provides a vector to mineralisation to the north. In addition, recent reconnaissance work has identified visible gold grains up to 1mm in outcropping quartz veins nearby.

The Vampire Prospect located north of the Old Pirate Gold Mine has also been drilled. Drill results are mainly low-grade and did not emulate the high-grade results seen at surface. However, further interpretation of the structural geology is underway to ascertain the plunge of the high-grade mineralisation within the quartz veins to provide better drill targets. Refer to announcement dated 9 September 2015 for further details.

Regional Exploration

Hyperion Gold Project

The Hyperion Gold Project has a current Inferred Mineral Resource estimation of 2.98 million tonnes at an average grade of 2.11g/t gold for 202,200 ounces (refer Appendix 1). The project is located in the northern Tanami approximately 17 kilometres from the Groundrush Gold Mine (Tanami Gold NL / Northern Star Resources Limited). Geology at Hyperion consists of steeply dipping sedimentary rocks (sandstone and shale), dolerite and basalt, as well as a granite dyke or sill associated with mineralisation. Mineralisation is leached in the upper parts of the system with mineralisation tenor increasing from 20 metres depth.

ABM completed 45 aircore drill holes to an average depth of 60 metres at Hyperion. Of the 45 holes, 23 intersected mineralisation (>0.5g/t gold cut-off). The aim of the drill program was to infill in the near- surface and to test along strike extensions.

Drilling at Hyperion East along strike from the main Hyperion Central zone added potentially two new zones of mineralisation. Hole HYAC100011 intersected 21 metres averaging 2.84g/t gold (0.5g/t gold cut-off grade) including a higher grade section of 9 metres averaging 5.77g/t gold. Hole HYAC100012 intersected 12 metres averaging 3.43g/t gold directly beneath HYAC100011, and also ended in mineralisation. Drilling is being planned to follow up on these new discoveries.

Infill drilling on the main Hyperion Central zone intersected wide zones of mineralisation including an intersection of 21 metres averaging 4.42g/t gold in HYAC100022 (refer announcement 26 August 2015).

Figure 4. Cross-section through the Hyperion East new discovery 300m along strike from the main Hyperion Central zone. Each assay interval represents 3 metres.

North Arunta Project

ABM continues to discuss the divestment of the North Arunta project with several parties.

Lake Mackay Regional Project with Independence Group NL (ASX:IGO)

Subsequent to the end of the quarter (6 October 2015), ABM announced the Bumblebee Prospect Discovery which is located north east of the town of Kintore and 400 kilometres west of Alice Springs in the Northern Territory and part of the wider Du Faur Project area / Warumpi Margin Project.

First drill results from the oxide, supergene and fresh-rock (sulphide) zones respectively at the Bumblebee Prospect include:

• 2 metres averaging 1.3g/t gold, 34.6g/t silver, 7.4% copper, 1.3% lead, 1.6% zinc and 0.09% cobalt

  ~25 metres below surface

• 7 metres averaging 3.3g/t gold, 37.7g/t silver, 3.2% copper, 0.9% lead, 1.3% zinc and 0.08% cobalt

  ~30 metres below surface

• 5 metres averaging 2.4g/t gold, 12.4g/t silver, 1.4% copper, 0.2% lead, 1.0% zinc and 0.1% cobalt

~48 metres below surface

Drilling at the Bumblebee Prospect intersected gold, silver, copper, lead, zinc and cobalt mineralisation in the oxide zone, in a supergene-enriched zone and in fresh rock (Figure 5). The oxide zone mineralogy includes malachite, azurite and chrysocolla (secondary copper oxide minerals) with native copper in the supergene zone. In the fresh rock, minerals observed include chalcopyrite (copper sulphide), pyrite (iron sulphide) and magnetite (iron oxide).

The Bumblebee Prospect consists of a multi-element soil geochemistry anomaly that strikes east-west for over 1 kilometre. The peak of the soil geochemistry anomaly is coincident with a window through the transported sand-dune sediments and it is possible that anomalism extends farther under sand cover. In drilling, mineralisation was intersected on one drill section which indicates a southerly dipping mineralised zone within an east-west striking structure. Further work is required to establish the extents and geometry of this mineralised zone.

Figure 5. Bumblebee drilling cross-section view west

The combination of the multi-element metal association, the high-grade metamorphic rocks and presence of magnetite is similar to distal signatures of Cloncurry-style iron oxide copper gold (IOCG) deposits (e.g. Ernest Henry or Osborne copper-gold mines in Queensland). However, further work is required to form a coherent metallogenic model for this region and this interpretation may change.

The Bumblebee Prospect is part of the Lake Mackay alliance with Independence Group NL.

Expansion of regional tenement portfolio

ABM and IGO have entered into an earn-in and joint venture agreement with Metals X Ltd for the tenement application immediately north of EL24915. This tenement application (EL29748) is held by Castile Resources Pty Ltd - a wholly owned subsidiary of Metals X Ltd (ASX:MLX). ABM and IGO (after granting of the tenement) can collectively earn an initial 51% of the tenement (pro-rata 70% IGO and 30% ABM) by spending $500,000 with further rights to earn up to 76.9%. This tenement is an application and, as with all exploration license applications in this area, requires consent of the traditional owners via the Central Land Council prior to granting. The IGO / ABM alliance is tasked with advancing the tenement to granted status.

Work planned for the upcoming Quarter

• Continue mining operations at the Old Pirate Gold Mine.

• Continue extensional and regional exploration targeting in the wider Twin Bonanza and Tanami region of the Northern Territory.

• Continue exploration (IGO) at Bumblebee.

Tenement Portfolio

ABM has 110 granted licenses, 61 exploration license applications and 1 granted mineral lease in the Northern Territory and Western Australia covering more than 48,000 square kilometres. This includes 76 tenements and approximately 12,700 square kilometres in the Tanami region.

ABM continues its strong working relationship with the Central Land Council, the Traditional Owners and the Northern Territory Department of Minerals and Energy.

About ABM

ABM is developing several gold discoveries in the Central Desert region of the Northern Territory of Australia. The Company has a multi-tiered approach to exploration and development with a combination of high-grade production scenarios such as the Old Pirate High-Grade Gold Project, large scale discoveries such as Buccaneer, and regional exploration discoveries such as the Hyperion Gold Project. In addition, ABM is committed to regional exploration programs throughout its extensive holdings including the alliance with IGO at the regional Lake Mackay Project.

Figure 6. ABM's land position in the Central Desert

CORPORATE

Cash Position

ABM's financial position at the end of the Quarter was $8.3 M in cash with an additional $2.2 M of gold in hand (sold subsequent to end of quarter). The Company has no debt. The company re-negotiated its facility with the ANZ bank which remains undrawn with exception of the bonding and guarantee facilities under which ANZ has provided guarantees against the environmental bonds lodged by the Company. The new facilities include a revolving working capital facility of $4 M a $4.5 M bond facility, a $2.5 M guarantee facility and an electronic pay-away facility of $1 M, all with a maturity date of 30 June 2016.

Board and Company Secretary Changes

Mr Graeme Sloan, non-executive director of the Company, resigned from the board effective from 30 September 2015 to pursue other business interests.

Mr Rowan Caren was appointed Alternate Company Secretary effective 25 September 2015.

Subsequent to the end of the quarter, Brett Lambert was appointed Chief Executive Officer and Darren Holden stepped down as Managing Director.

Signed

Mike Etheridge Chairman

Competent Persons Statements

The information in this announcement relating to mineral resource estimation is based on information reviewed and compiled by Mr Darren Holden who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Holden 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 Holden consents to the inclusion in the documents of the matters based on this information in the form and context in which it appears.

The information in this announcement relating to exploration results is based on information reviewed and compiled by Mr Darren Holden and Mr Alwin Van Roij who are Members of The Australasian Institute of Mining and Metallurgy. Mr Holden and Mr Van Roij are full time employees of ABM Resources NL and have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are 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 Holden and Mr Van Roij consent to the inclusion in the documents of the matters based on this information in the form and context in which it appears.

The information in this announcement relating to recent exploration drill results from the Lake Mackay Project is based on information compiled by Independence Group NL and reviewed / checked by Mr Darren Holden who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Holden 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 Holden consents to the inclusion in the documents of the matters based on this information in the form and context in which it appears.

During the Quarter the following ASX announcements regarding the Company's activities and projects were released.

Date	Headline
30/09/2015	Final Director's Interest Notice - G Sloan
25/09/2015	Board and Company Secretary Changes
21/09/2015	Operational Update from the Old Pirate Gold Mine
09/09/2015	Further Exploration Drill Results on Twin Bonanza
28/08/2015	Appendix 4G and Corporate Governance Statement
28/08/2015	Annual Report Year Ended 30 June 2015
26/08/2015	New Discovery at Hyperion East
17/08/2015	Buccaneer Metallurgical Test-Work Excellent
04/08/2015	Diggers & Dealers Presentation
29/07/2015	Quarterly Activities and Cashflow Report
16/07/2015	Commissioning of Old Pirate Mine Reaches Major Milestone
16/07/2015	TAM: Update on Agreement with ABM Resources NL
10/07/2015	Exploration Drill Results 19m averaging 5.82g/t Gold

APPENDIX 1.

Buccaneer Resource Estimation

Buccaneer Higher Grade Zone Mineral Resource at 2g/t gold cut-off Grade

Grade (g/t

Category Tonnes

gold) top-cut

Grade (g/t gold) uncut

Ounces gold top-cut

Ounces gold uncut

Indicated 2,261,000 3.39 4.17 246,200 303,000

Inferred 3,573,000 3.75 4.56 431,100 523,500

Total 5,834,000 3.61 4.41 677,300 826,500

Buccaneer Higher Grade Zone Mineral Resource at 1g/t gold cut-off Grade

Grade (g/t

Category Tonnes

gold) top-cut

Grade (g/t gold) uncut

Ounces gold top-cut

Ounces gold uncut

Indicated 7,117,000 2.00 2.25 458,500 515,300

Inferred 8,183,000 2.43 2.78 639,700 732,200

Total 15,300,000 2.23 2.54 1,098,200 1,247,500

Buccaneer Bulk Tonnage Mineral Resource at 0.2g/t gold cut-off Grade

0.2g/t gold cut-off	Million tonnes	Gold (g/t)	Million ounces
Indicated	34.0	0.64	0.702
Inferred	93.9	0.65	1.970
Total	127.9	0.65	2.672

Note - Totals may vary due to rounding. Refer to press release 5th February 2013 and 16th April 2012 for details. Re-reported in 2013/2014 annual report to be compliant with JORC 2012.

Hyperion Resource Estimation

Hyperion Gold Project Mineral Resource estimation with 50g/t gold top-cut

0.8g/t gold cut-off Tonnes Gold (g/t) Ounces

Hyperion Central 2,209,000 2.06 146,600

Hyperion South 768,000 2.25 55,500

Total	2,977,000	2.11	202,200
2g/t gold cut-off	Tonnes	Gold (g/t)	Ounces
Hyperion Central	875,000	3.17	89,100

Hyperion South	272,000	4.08	35,700
Total	1,147,000	3.38	124,800

Note - Totals may vary due to rounding. Refer to press release 16th April 2012 for details. Re-reported in 2013/2014 annual report to be compliant with JORC 2012.