NEOMETALS LTD — Board/Management Information 2012

Jun 28, 2012

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Level 1, 672 Murray St West Perth WA 6005 Locked Bag 8 West Perth WA 6872 Tel: + 61 8 9322 1182 Fax: + 61 8 9321 0556

ASX RELEASE

29 June 2012

Board Changes

HIGHLIGHTS

• David Reed to take on Non-Executive Chairman role.

• Non-Executive Director refreshment.

Emerging Australian gold producer Reed Resources Ltd ( ASX: RDR ) (the “ Company” or “Reed Resources” ) wishes to advise of further changes to its Board as part of its evolution from being exploration and development focused, to mineral processing and gold production focused. These changes form part of the Company’s ongoing Board refreshment program which commenced with the appointment of Dr Vanessa Guthrie in 2011. This is designed to best position the Company with the appropriate Board skills and focus as it moves towards its goal of becoming a mid-tier gold producer. Gold production is planned to commence at an initial rate of 95,000oz gold per annum in the December Quarter 2012.

David Reed

Effective 1 July 2012, Mr David Reed will step back to a Non-Executive Chairman role, but will continue his active involvement with the Company. Moving to a non-executive role will allow Mr Reed more time to attend to his personal business and charity work.

Ian Junk

Long standing non-executive director, Mr Ian Junk has retired from the Board to allow him more time to focus on his other increasingly demanding executive commitments. Mr Junk was appointed to the Board in November 2003. Mr David Reed, Chairman, said “The Board and I are most grateful to Ian for his efforts as a member of the Reed Resources Board, his contribution to the development of the Company and the practical mining perspective he bought to the Company during his time on the Board.”

Peter Collins

Dr Peter Collins has indicated that due to personal and family reasons he intends to retire from the Board at the Company’s 2012 Annual General Meeting. Dr Collins is a founding director of the Company, which listed on ASX in 2002. Dr Collins’ geological skills and contribution to the Company, especially during the Company’s early exploration phase, have been invaluable. The Company is fortunate to have Dr Collins’ ongoing involvement until the 2012 AGM over this period of transition.

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Reed Resources is in the process of seeking a new non-executive director with appropriate experience in mineral processing and production to complement its other skills on the Board.

Steven Cole, Deputy Chair and Chair of the Company’s Nominations Committee, commented, “Following the appointment of Luke Tonkin as CEO/Managing Director and David Lim as CFO, the Company’s Board refreshment program is the next phase of positioning the Company with the right Board structure, experience and skill set to support the Company in achieving its objective of delivering shareholder value and to take its portfolio of assets to the next stages of their development.”

ENDS

For further information please contact :

Luke Tonkin John Gardner Reed Resources Ltd MAGNUS Investor Relations T: +61 89322 1182 T: +61 413 355 997 E: enquiries@reedresources.com E: jgardner@magnus.net.au

About Reed Resources

Reed Resources Ltd (ASX: RDR, OTC: RDRUY) is an emerging Western Australian gold producer focused on bringing its flagship Meekatharra Gold Project into production in the December quarter of 2012.

Reed Resources’ wholly owned Meekatharra Gold Project is located in the prolific Murchison region of Western Australia and currently has 3.59Moz of gold in JORC resources and existing infrastructure including the 3 Mtpa Bluebird processing plant.

Reed Resources’ other projects include:

• Mount Marion: High-grade lithium project located 40km south of Kalgoorlie in JV with Mineral Resources Limited (ASX: MIN). Currently under construction.

• Barrambie: Definitive Feasibility Study completed on the production of 6300t of vanadium per annum. Currently in approvals process and evaluating recovery of titanium and iron units.

• Comet Vale: Currently on care & maintenance. High grade JORC resource of 186,000oz at 10.8 g/t Au.

• Mount Finnerty: Iron ore JV with Cliffs Natural Resources and nickel option with Barranco Resources NL.

Reed Resources’ American Depositary Receipts (ADR’s) trade under the code RDRUY (CUSIP Number: 758254106). Each Reed Resources ADR is equivalent to 10 ordinary shares of Reed Resources as traded on the ASX. The Bank of New York Mellon is the depository bank.

Website: www.reedresources.com

COMPETENT PERSONS STATEMENT

Geological aspects of this report have been compiled by Mr Craig Fawcett (MAIMM), a full time employee of Reed Resources Ltd. Mr Fawcett has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which is being reported on to qualify as a Competent Person as defined in the Code for Reporting of Mineral Resources and Ore Reserves (2004). Mr Fawcett consents to the inclusion in this report of the matters in the form and context in which it appears.