NEOMETALS LTD — Board/Management Information 2008

Jul 23, 2008

97 Outram Street West Perth WA 6005 Tel: + 61 8 9322 1182 Fax: + 61 8 9321 0556

Reed Resources Ltd

ABN 89 099 116 631

To: Company Announcements Office, ASX via electronic lodgement

From: Reed Resources Ltd [RDR:AX] ABN 89 099 116 631

Re: Reed Appoints Steven Cole as Deputy Chairman

Reed Resources Ltd (“RDR”) is pleased to announce the appointment of Steven Cole as Deputy Chairman of the Company.

“This marks a significant step in the corporate evolution of RDR and we are pleased to have been able to attract a person of Steven’s ability to join the Board” said Chairman David Reed.

“Steven not only has strong business and governance experience, but also has a sound understanding of the Company having been instrumental, in a legal capacity, in the original float of RDR in 2002.”

As RDR has matured as an ASX listed corporation to a current market capitalization in the vicinity of $110 million, and with the Company’s Barrambie Vanadium Project in the final stage of evaluation, it is timely for RDR to strengthen its Board with a clear focus on governance.

“With the Company now attracting institutional investor support and having regard to the ASX Corporate Governance Council Recommendations, Steven’s governance oversight from a deputy chair role will facilitate my continuation as executive chairman of the Company” stated David Reed.

In welcoming Steven Cole to the Board, Managing Director Chris Reed also foreshadowed the adoption in the near future of a revitalized Corporate Governance Charter which will be reflective of the revised ASX Corporate Governance Council Recommendations (2008).

A brief bio of Steven Cole appears below:

Steven Cole has 35 years of professional, corporate and business experience through senior legal consultancy, as well as a range of executive management and non executive appointments.

His extensive boardroom and board sub-committee experience includes ASX listed, statutory, proprietary and NFP organisations covering the industrial, financial, educational, professional services, health and resources sectors.

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Since leaving leading national law firm Allens Arthur Robinson in 2007, Steven’s continuing appointments include:

• Chairman of Solco Limited and Emerson Stewart Group Limited;

• Chairman of 2 private investment trust companies with over $20m under management

• Deputy Chairman of the Professional Standards Councils around Australia (statutory authorities governing professional standards)

• Vice President of Australian Institute of Company Directors (WA Division)

• Deputy Chairman of Brightwater Care Group Inc, a major charitable NGO

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Christopher Reed MANAGING DIRECTOR COMPANY SECRETARY