NEOMETALS LTD — Board/Management Information 2012

Jan 10, 2012

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----- Start of picture text ----- ABN 89 099 116 631----- End of picture text -----

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 Announcement

11 January 2012

Key appointments to support production and expansion at Meekatharra Gold Project

HIGHLIGHTS

• Highly experienced Chief Financial Officer with international experience

• Processing Manager with strong operational and optimisation track-record

• Maintenance Supervisor with Meekatharra Gold Project experience

Emerging gold producer Reed Resources Ltd ( ASX: RDR ) (the “Company” or “Reed Resources”) has bolstered its management and operations team with the appointments of Mr David Lim as Chief Financial Officer, Mr Geoffrey Cheong as Processing Manager, and Mr Kenneth Fairless as Maintenance Superintendent.

The appointments further expand the management and operations experience of Reed Resources and strongly position the Company to bring its flagship Meekatharra Gold Project back into production in late 2012.

Mr Lim brings exceptional experience to Reed Resources, having been employed by gold mining and exploration company Equigold NL for more than 12 years in various finance-related roles, including as Chief Financial Officer/Company Secretary through Equigold’s merger with Lihir Gold Ltd. Mr Lim has vast experience with start up operations as a result of his involvement in the establishment of the management reporting systems for Equigold’s three Australian gold mining operations and the Bonikro Gold Mine in Ivory Coast, West Africa. Mr Lim’s experience will be of benefit to the Company as it moves to develop the Meekatharra Gold Project.

More recently, Mr Lim has been Chief Financial Officer with Strike Resources Ltd, an ASX-listed exploration company with assets in Indonesia and Peru. In particular, Mr Lim’s role focused on the establishment of a management reporting system in anticipation of the company moving from exploration to production.

Mr Cheong has over 30 years experience in Australia and overseas in various metallurgical and mill management roles. Most recently Mr Cheong held the position of Metallurgy Manager with Tanami Gold NL, where he was responsible for all metallurgical operations, including the redesign, recommissioning and increased throughput of the company’s gold plant in the Western Australia and the design of their planned facility at Groundrush in the Northern Territory. Mr Cheong has extensive experience in all facets gold processing on a wide variety different ore types including refractory ores.

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Mr Fairless, with a career spanning over 30 years, brings intimate knowledge of the Meekatharra Gold Project to Reed Resources, having previously fulfilled the role of Maintenance Superintendent at the Meekatharra Bluebird Operation through until the Project was placed in care and maintenance in 2008. Prior to this, Mr Fairless has served as Maintenance Superintendent at several sites also involving refurbishment and recommencement of operations. Mr Fairless also brings with him key operational supervisors to plan and execute the refurbishment activities.

Reed Resources Managing Director, Mr Christopher Reed, said the new appointments provide the Company with an exciting blend of relevant experience to progress the Meekatharra Gold Project to production in an efficient and timely manner.

“The company is at an extremely exciting stage, with more than three million ounces of gold resources, a total reserve base in excess of half a million ounces and growing, and a clear plan and commitment from management to bring the project back into production.

“The enhancement of our management and operational team will be instrumental to advancing the Meekatharra gold assets. We have previously stated that we expect to be in production by the end of 2012 and the Company anticipates releasing the results of the Feasibility Study in February,” Mr Reed concluded.

Mr Fairless and his team will commence on site in early February and start detailed scheduling work on the refurbishment. Mr Cheong will commence his role with Reed Resources in late March to oversee the refurbishment activities, and Mr Lim will join the company in the coming months.

-ENDS-

For further information please contact:

Chris Reed John Gardner Reed Resources Ltd MAGNUS Investor Relations + Corp. Comms. T: +61 89322 1182 T: +61 8 9212 0101/ +61 413 355 997 E: chris@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 second half of 2012.

Reed Resources’ wholly owned Meekatharra Gold Project is located in the prolific Murchison region of Western Australia and has a current JORC resource of 3.27 Moz 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) and set to be the World’s second biggest lithium concentrate operation. Currently under construction with commissioning planned for 2012.

• Barrambie: Definitive Feasibility Study completed on the production 6300t of vanadium per annum. Currently in approvals process and evaluating recovery of titanium slag and pig iron as co-products.

• Comet Vale: Evaluating recommencement of high-grade underground gold production, currently on care & maintenance. JORC resource of 186,000 oz at 10.8 g/t Au.

• Mount Finnerty Iron Ore: Iron ore JV with Cliffs Natural Resources and nickel farm-in 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

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