NEOMETALS LTD — Capital/Financing Update 2009

Apr 13, 2009

Reed Resources Ltd

ABN 89 099 116 631

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

14 April 2009

Company Announcements Office ASX Limited via Electronic Lodgement

Dear Sirs

CANCELLATION OF OPTIONS

The Company wishes to advise that 450,000 unlisted options previously issued pursuant to the Company’s Employee Share Option Plan 2007 have now been cancelled in accordance with the plan.

The details of these options are set out below:

ASX Code	Expiry Date	Exercise Price	No. of Options
RDRAQ	31 December 2012	85 cents	300,000
RDRAW	30 June 2013	$1.20	150,000

Yours faithfully

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Jason Carone

COMPANY SECRETARY

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