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NEOMETALS LTD Capital/Financing Update 2010

Jul 26, 2010

65430_rns_2010-07-26_0424c26a-b029-4bec-800b-9d41e27a458f.pdf

Capital/Financing Update

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MARKET RELEASE

27 July 2010

Reed Resources Limited

TRADING HALT

The securities of Reed Resources Limited (the "Company") will be placed in pre-open at the request of the Company, pending the release of an announcement by the Company. Unless ASX decides otherwise, the securities will remain in pre-open until the earlier of the commencement of normal trading on Thursday, 29 July 2010 or when the announcement is released to the market.

Security Code: RDR

of Heiner

Jill Hewitt Senior Adviser Issuers (Perth)

  1. PS212020 NO.584 P.2/2,01/01

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

27 July 2010

Mr.James Rowe Australian Stock Exchange Limited Exchange Plaza 2 The Esplanade PERTH WA 6000

BY FAX: 9221 2020

Dear James,

REQUEST FOR TRADING HALT

Pursuant to Listing Rule 17.1, Reed Resources Ltd (ASX Code:RDR) requests an immediate halt in relation to its ordinary shares pending an announcement regarding a capital raising.

We anticipate being in a position to make an announcement regarding the raising prior to the commencement of trading on Thursday, 29 July 2010.

Reed Resources Ltd is not aware of any reason why the trading halt should not be granted.

Please contact me if you have any questions regarding the above.

Yours sincerely,

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Jason Carone

COMPANY SECRETARY