I will discuss the random matrix theory behind two-component random resistor networks on general graphs. This involves random submatrices of the graph Gamma projection operator, with the particular realization of the submatrix determined by the disorder of the conductances. Certain combinations of graph symmetries together with different models for the random conductances lead to exactly computable spectral statistics. I will discuss recent results for spectral statistics of a percolation model on the diamond hierarchical lattice. Joint work with Ken Golden, Elena Cherkaev, Ben Murphy, Han Le, Loren Santana.