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1 QUARTERLY REPORT June 2015 Trial mining operation at Devon Gold Mine 2195 ounces produced from Devon Gold Mine Page 1 of 14

2 High Lights NiWest Nickel Laterite Heap Leach Project Metallurgical test work on the development of Nickel Laterite Heap LeachSXEW Flowsheet o Bulk Column Test completed reaffirms Nickel extraction rates up to 80% o Positive results achieved in preliminary Fe removal and SX test work Devon Gold Mine Trial mining operation completed o o o o o Operation delivered $1.57 million surplus Mining completed within budget and time frame Fast tracking Devon expansion development Devon resource estimate update Acquisition of New Year s Gift Gold Prospect adds to Linden holding NiWest Nickel Laterite Project Update During the quarter the bulk column leach test was completed utilising optimal ore preparation and agglomeration conditions established from the work completed by Hydro GeoSense. The bulk column was subjected to 3 stage leach with interstage acid adjustment where necessary to maximise Ni extraction and control acid consumption. After the leach cycle, a wash cycle was implemented to recover the residual Ni values. The column has been dismantled and final residue sizing and assays are being conducted. Preliminary results are consistent with bottle roll testing and in line with expectation with Ni recovery of ~80% achieved in a 60 day leach cycle using 10kL/t of solution. Solution assays of impurities were also in line with expectation. Page 2 of 14

3 Figure 1 Nickel extraction graph showing bottle roll and bulk column results The final leach solution was homogenised and samples taken to establish preliminary neutralisation and Fe removal conditions with the ground calcrete. Initial batch tests provided guidance for a 36 hr single stage continuous neutralisation test. The preliminary results from the Fe removal tests show promising trends with removal of 99% of the Fe from 17g/L down to 200ppm in a single stage. At the same time the Al has been reduced from 3g/L down to 200ppm. Initial results showed very low Ni losses. Results for the solid liquid separation, filtration and settling tests are still being interpreted and results are as yet unavailable. To allow for early start to the SX testwork and provide some additional data for the metallurgical mass balance modelling it was decided to make up a synthetic Pregnant Liquor Solution ( PLS ) to replicate what was expected as the neutralised PLS. Preextraction, extraction and stripping shakeout tests were conducted on Nicksyn/Versatic10 model. The generated isotherm from the above mentioned extraction tests (figure 2) shows the extraction characteristics using the Nicksyn/Versatic 10 organic. As expected Fe is strongly extracted.minimising Fe transfer from the neutralisation stage is critical. The extractant show excellent Ni extraction at ph=5 to 6. Page 3 of 14

4 Figure 2 Extraction Isotherm graph showing metal removal in SX using Versatic 10 organic First principles Metallurgical Mass Balance Models have been generated. An initial model was established just for the Heap Leach and Neutralisation Circuits assuming a Mixed Sulphide Precipitation. This was done initially to keep the complexity of the model simple and was required prior to design and modelling of the SX and EW circuits. The key finding of the initial modelling exercise was that the heap leach circuit water balance was dominated by the need to control the MgSO 4 concentration. The steady state conditions indicate although the PLS per pass only leaches Mg to ~10g/L, with the recirculating leach solution from Neutralisation this increases up to 45g/L. Modelling has been completed on both the Nicksyn/Versatic10 SXEW flowsheet and an alternate CMN SXEW flowsheets using the inputs from the Heap Leach and Neutralisation model. As more results become available from the test work the models are being adjusted accordingly. Based on the results from the preliminary test work a decision will be made on which SX flowsheet (Nicksyn or CMN) will be pursued in the continuous pilot plant phase once final results and analysis of the shakeout SX tests are available. Continuous piloting of Neutralisation/Fe removal and SX will be completed in second half of Page 4 of 14

5 Devon Gold Mine Update During the quarter the Company completed a trial mining operation at the Devon Gold Mine. The mining operation commenced on the 4 May and was completed by the 27 th May. Ore was transported to the Darlot Processing Facility, 300 kilometres north of the Devon site using six quad road trains. The operation was an outstanding achievement given the remote site, haulage logistics and the constrained time frame for the delivery ore to meet the processing window. The primary goal of the project was to generate cash flow to support the continuation of the metallurgical test program for the Company s NiWest Nickel Laterite Project and an expansion of the Devon mine. The operation, which included site set up, mining, haulage and processing, was completed in a 30 day turn around. The Company extends its gratitude to the mining and haulage contractors who delivered an incident free operation. Results from Trial Mining Operation o Processed 13,590 Dry tonnes averaging 5.36 g/t (recovered grade) o Production 2,195 fine ounces o Total Cost per Ounce $810 (including capital) o Surplus from Operation $1.57 m o Plant Recovery 93.8 % The trial open pit was designed to exploit high grade gold mineralisation that was exposed from surface. Ore produced from the mine was transported to Goldfield s Darlot plant site located where it was processed under a Toll Milling Agreement. Gold recovery from the processing averaged 93.8% in line with the initial metallurgical test work. Head grade from the mine averaged 5.75 g/t providing a positive reconciliation to the ore block model. Operating costs for the project came in at $745/ounce with a further $65/ounce capital costs. Total revenue from the sale of the gold was $3.35 million. Work on the Mining Proposal approval for an expansion of the trial open pit is now well under way. Mineralisation of similar grade below the pit floor has been drilled out to a depth of 40 metres below surface. Optimisation studies utilising costs and recovery parameters from the trial mine will be used to develop a high level financial model for the expanded mine operation. Additional work such as geotechnical drilling, water bores and grade control drilling will be completed in the September quarter. The Mining Proposal is almost completed and is expected to be lodged in August. Based on the current time frame for the approval process, the Company anticipates being in a position to recommence mining at Devon in December Devon Resource Update During the quarter the Company released an updated mineral resource estimate for the Devon Gold Project. The resource estimate was completed by Ravensgate Resource Consultants using ordinary kriging and is compliant with JORC 2012 standards. (ASX 29 June 2015) Two resource tables have been calculated using 1 and 2 gram lower cut off grades taking into account depletion of tonnes from the recent trial mining operation completed in May The difference between the 1 and 2 gram / tonne lower cut off grades (refer Tables 1 & 2), demonstrates the resource contains a robust, highgrade component. The resource update highlights the following points. Page 5 of 14

6 JORC 2012 Mineral Resource update of 475,000 tonnes at 2.98 g/t Au for 45,500 ounces of gold at Devon Deposit. Application of high cut off grades highlight significant, robust highgrade mineralisation within the resource. 72% of ounces now in Measured and Indicated Categories. Minimal drill testing below 100 m vertical depth from surface. Table 1 Devon Gold Project Resource Estimate June gram / tonne lower cutoff grade Category Tonnes Grade Ounces Measured 62, ,150 Indicated 141, ,970 Inferred 84, ,640 Total 288, ,760 Note: Rounded to appropriate precision Table 2 Devon Gold Project Resource Estimate June gram / tonne lower cutoff grade Category Tonnes Grade Ounces Measured 124, ,900 Indicated 213, ,450 Inferred 138, ,150 Total 475, ,500 Note: Rounded to appropriate precision Page 6 of 14

7 Figure 1 Devon Gold project showing the mineralised envelope (0.3g/t) and the trial pit outline Page 7 of 14

8 Figure 2 Long section of Devon showing the extent of the 0.3g/t mineralised envelope, trial pit and historical underground workings. Minimal drilling has been undertaken to test the mineralisation below 100 metres. Figures 3 and 4 Cross sections and demonstrating robust high grade mineralisation extending below the trial pit. Page 8 of 14

9 Figure 4 Cross Section 31360N Acquisition of New Year s Gift Prospect Linden The Company has acquired 100% interest in E39/1760 which hosts the New Year s Gift gold prospect. The tenement is located approximately 1000 metres to the north of the Company s Devon Gold Mining lease at Linden (Figure 5). The New Year s Gift prospect is situated on the western flank of Lake Carey and hosted within the same northnorthwest trending greenstone rock package as the Devon deposit. There is little evidence of any exploration in the modern era being undertaken at New Year s Gift. Recent (limited) rock chip sampling taken from costeans across the subcropping main quartzlimonite lode returned grades between 0.5 to 29.2 Au grams per tonne (Refer ASX announcement dated 16 July 2015). Sampling from costean was nominally 30 meters apart over 100 m of strike length south of historical workings (Figure 6). Numerous shafts and shallow workings extend for approximately 140 metres on the salt lake. The mineralised trend to the north and south of workings is obscured by extensive sand dune cover. An initial drilling program is planned to coincide with imminent resource development drilling at Devon. Page 9 of 14

10 Figure 5 New Year s Gift Tenement Location Plan in relation to the Devon Gold Project Figure 6 New Year s Gift workings on the Lake Carey. Note sand dune cover directly north and south of the workings. Page 10 of 14

11 The Company looks forward to providing further updates on activities as they unfold. JAMIE SULLIVAN MANAGING DIRECTOR 30 July 2015 Competent Person Statements NiWest Nickel Project The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Mr Stephen Hyland of Ravensgate Resource Consultants. Mr Hyland is a fellow of The Australasian Institute of Mining and Metallurgy. Mr Hyland is a Principal Consultant with Ravensgate Minerals Industry Consultants who consults to the Company. Mr Hyland has sufficient experience, which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Mineral Resources and Ore Reserves. Mr Hyland consents to the inclusion in the report of the matters based on information provided in the form and context in which it appears. This Mineral Resource Estimate has not been updated to JORC 2012 on the basis that the available information has not materially changed since the last review. The information in this announcement that relates to Processing / Engineering and related operating and capital cost estimates is based on information reviewed by Mr David Readett (B.E. Met Eng., FAusIMM, CP (Met)). Mr Readett is an independent consulting engineer working through a Company known as MWorx Pty Ltd. Mr Readett is a Chartered Professional Metallurgical Engineer and has 25 years of relevant experience in this area of work. Mr Readett consents to the inclusion in this announcement of the matters based on information provided by him and in the form and context in which it appears. The information in this report that relates to Exploration Results is based on information compiled by Mr Mark Gunther who is a member of The Australasian Institute of Geoscientists. Mr Gunther is a Principal Consultant with Eureka Geological Services. Mr Gunther has sufficient experience, which is relevant to the style of mineralization 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 of Exploration Results, Mineral Resources and Ore Reserves. Mr Gunther consents to the inclusion in the report of the matters based on information provided in the form and context in which it appears. Devon Trial Gold Mine Where the Company refers to the Devon Gold Project Mineral Resource Estimate in this report (referencing the release made to the ASX on 29 June 2015), it confirms that it is not aware of any new information or data that materially affects the information included in that announcement and all material assumptions and technical parameters underpinning the resource estimate with that announcement continue to apply and have not materially changed. Page 11 of 14

12 APPENDIX 1 NiWest Project plan and Resource Statement NiWest Resource Statement JORC (2004) 0.7% COG Tonnes Ni Metal Co Metal CATEGORY (Millions) %Ni %Co (tonnes) (tonnes) TOTAL Measured ,692 28,229 Indicated ,631 18,502 Inferred ,250 19,600 Combined ,007,573 66, % COG Tonnes Ni Metal Co Metal CATEGORY (Millions) %Ni %Co (tonnes) (tonnes) TOTAL Measured ,198 23,037 Indicated ,273 14,189 Inferred ,038 11,303 Combined ,509 48, % COG Tonnes Ni Metal Co Metal CATEGORY (Millions) %Ni %Co (tonnes) (tonnes) TOTAL Measured ,996 15,215 Indicated ,299 6,461 Inferred ,741 3,786 Combined ,036 25, % COG CATEGORY Tonnes (Millions) %Ni %Co Ni Metal (tonnes) Co Metal (tonnes) TOTAL Measured ,534 6,681 Indicated ,165 1,981 Inferred ,591 1,106 Combined ,290 10,067 (This information was prepared and first disclosed under the JORC Code It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last updated.) Page 12 of 14

13 Figure 7 Gold Projects Location Plan Page 13 of 14

14 Figure 8 Devon Gold Project Location Plan Page 14 of 14

15 Appendix 5B Mining exploration entity quarterly report Appendix 5B Rule 5.3 Mining exploration entity quarterly report Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10 Name of entity GME Resources Ltd ABN June 2015 Consolidated statement of cash flows Cash flows related to operating activities Quarter ended ( current quarter ) Current quarter $A 000 Year to date (12 months) $A Receipts from product sales and related debtors 1.2 Payments for (a) exploration & evaluation (522) (1,922) (b) development (c) production (1,964) (1,964) (d) administration (181) (356) 1.3 Dividends received 1.4 Interest and other items of a similar nature 3 22 received 1.5 Interest and other costs of finance paid 1.6 Other Royalty Income Facility Fee Income R&D Refund Net Operating Cash Flows 1,180 ( 376) Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects (b) equity investments (c) intangible assets 1.9 Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets (18) 1.10 Loans to other entities 1.11 Loans repaid by other entities 1.12 Other Tenancy Bond (3) Net investing cash flows (21) 1.13 Total operating and investing cash flows 1,180 (397) (carried forward) + See chapter 19 for defined terms. 17/12/2010 Appendix 5B Page 1

16 Appendix 5B Mining exploration entity quarterly report 1.13 Total operating and investing cash flows (brought forward) 1,180 (397) Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other (provide details if material) (7) (42) Net financing cash flows (7) 646 Net increase (decrease) in cash held 1, Cash at beginning of quarter/year to date 620 1, Exchange rate adjustments to item Cash at end of quarter 1,793 1,793 Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities Current quarter $A' Aggregate amount of payments to the parties included in item 1.2 (79) 1.24 Aggregate amount of loans to the parties included in item Explanation necessary for an understanding of the transactions 1.6 Proceeds from the trial mining operation completed in June at the 100% owned Devon Gold mine as announced on 19 June Noncash financing and investing activities 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest + See chapter 19 for defined terms. Appendix 5B Page 2 17/12/2010

17 Appendix 5B Mining exploration entity quarterly report Financing facilities available Add notes as necessary for an understanding of the position. Amount available $A 000 Amount used $A Loan facilities 3.2 Credit standby arrangements Estimated cash outflows for next quarter $A Exploration and evaluation 1, Development 4.3 Production 4.4 Administration 135 Total 1,185 Reconciliation of cash Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows. Current quarter $A 000 Previous quarter $A Cash on hand and at bank Deposits at call 1, Bank overdraft 5.4 Other (provide details) Total: cash at end of quarter (item 1.22) 1, Changes in interests in mining tenements 6.1 Interests in mining tenements relinquished, reduced or lapsed Tenement reference Nature of interest (note (2)) Interest at beginning of quarter Interest at end of quarter L39/194 Direct NiWest Ltd 100% 0% 6.2 Interests in mining tenements acquired or increased E39/1831 Direct NiWest Ltd 0% 100% (**) Refer to the attachment at the end of this Appendix 5B for further information regarding tenement holdings and interests (LR 5.3.3). + See chapter 19 for defined terms. 17/12/2010 Appendix 5B Page 3

18 Appendix 5B Mining exploration entity quarterly report Issued and quoted securities at end of current quarter Description includes rate of interest and any redemption or conversion rights together with prices and dates. 7.1 Preference + securities Total number Number quoted Issue price per security (see note 3) (cents) NIL Amount paid up per security (see note 3) (cents) 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buybacks, redemptions Ordinary securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buybacks Convertible debt securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted 7.7 Options (description and conversion factor) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter 7.11 Debentures (totals only) 7.12 Unsecured notes (totals only) 461,596, ,596,374 NIL NIL + See chapter 19 for defined terms. Appendix 5B Page 4 17/12/2010

19 Appendix 5B Mining exploration entity quarterly report Compliance statement 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 5). 2 This statement does give a true and fair view of the matters disclosed. Sign here:... Date:...30 July (Company secretary) Print name:...mark PITTS... Notes 1 The quarterly report provides a basis for informing the market how the entity s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report. 2 The Nature of interest (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities. 4 The definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. 5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with. == == == == == + See chapter 19 for defined terms. 17/12/2010 Appendix 5B Page 5

20 Appendix 5B Mining exploration entity quarterly report Project TENEMENT SCHEDULE Tenements Interest Beginning of quarter Interest End of quarter Abednego West P39/ Golden Cliffs 100% Golden Cliffs 100% M39/427 Golden Cliffs 100% Golden Cliffs 100% M39/0825 Golden Cliffs 100% Golden Cliffs 100% Location Eucalyptus M39/744 Franko Nevada 100% Nickel Rights M39/289, M39/430 M39/344 M39/666 and M39/674 M39/313, M39/568, M39/ P39/5459 E39/1795 Hawk Nest M38/218 GME 100% GME 100% Hepi M39/ , 819 Laverton Downs E38/1876 Golden Cliffs 100% Golden Cliffs 100% M38/1266 Golden Cliffs 100% Golden Cliffs 100% Linden M39/ Golden Cliffs 100% Golden Cliffs 100% M 39/500 GME 10% / 90% Haoma Mining GME 10% / 90% Haoma Mining Mertondale M37/591 Mt Kilkenny M39/ E39/1784 E39/1794 E39/1831 Murrin Murrin M39/426, 456, 552, 553 and 569 GlenMurrin 100% Golden Cliffs rights to nonnickel laterite Murrin North M39/758 Waite Kauri M37/1216 P37/8427 P37/8428 Wanbanna M39/460 NiWest 80% / 20% Wanbanna Pty Ltd NiWest 80% / 20% Wanbanna Pty Ltd Misc. Licences L37/175, L31/46, L40/25 L39/215, L39/177, L37/205, L39/222 Golden Cliffs 100% Golden Cliffs 100% The Company held no interest in farmout agreements at the beginning or the end of the quarter. + See chapter 19 for defined terms. Appendix 5B Page 6 17/12/2010