NEOMETALS LTD — Capital/Financing Update 2009

Jan 1, 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

2 January 2009

Company Announcements Office ASX Limited via Electronic Lodgement

Dear Sirs

LAPSE OF OPTIONS

The Company wishes to advise that 2,200,000 unlisted Options exercisable at 35 cents each which expired on 31 December 2008 have not been exercised and have lapsed.

Yours faithfully

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Chris Reed MANAGING DIRECTOR COMPANY SECRETARY

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