NEOMETALS LTD — Capital/Financing Update 2013

Jan 10, 2013

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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

11 January 2012

First gold pour at Meekatharra Gold Operation

Reed Resources Ltd ( ASX: RDR ) ( “Reed” or “the company” ) is pleased to announce that commissioning of the elution and gold room circuit at the 3Mtpa Bluebird Gold Processing Plant ( “Bluebird” ) at its Meekatharra Gold Operation ( “MGO” ) has culminated with the pouring of Reed’s first gold bar from Bluebird.

The initial Bluebird feed blend predominantly comprised stockpiled, low grade ore which established Bluebird’s gold in circuit inventory and has allowed gold stripping and production to commence.

Plant operating parameters have been stabilised during wet commissioning and gold production will increase throughout the March quarter of 2013. The Bluebird gravity circuit has also been commissioned which allows run of mine ore from the Bluebird open pit to be added to the low grade stockpile blend, increasing feed grade and gold production over the coming months.

In announcing Bluebird’s first gold pour, Reed Managing Director Luke Tonkin said the company has fulfilled its ambition of gold production at Meekatharra, as scheduled and as budgeted.

“Bluebird’s first gold pour marks Reed’s successful transition to producer.

As is the case with all mining projects and commissioning phases there are challenges that need to be addressed to ensure the health, wellbeing and safety of all those involved is managed effectively and that expenditure guidance and schedules are met,” Tonkin said.

“Reed’s employees, contractors and consultants have applied themselves particularly well delivering Meekatharra Gold Operation’s capital works program, commencement of mining operations, commissioning the Bluebird plant and heralding in Reed’s transition to gold production.

Mining of the Bluebird open pit has progressed ahead of schedule whilst ore presentation to the run of mine stockpile is also ahead of schedule which allows the site to introduce higher grade ore feed to the plant and steadily lift gold production in line with the increase in ore mined from the Bluebird open pit over the next three months,” Mr Tonkin concluded.

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Figure 1 – Reed’s first gold pour from its Meekatharra Gold Operation

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Figure 2 – Chris Mardon (General Manager MGO) and Ken Fairless (Maintenance Superintendent MGO) with Reed’s first gold bar from its Meekatharra Gold Operation

For further information please contact :

Luke Tonkin Reed Resources Ltd T: +61 89322 1182 E: enquiries@reedresources.com

John Gardner MAGNUS Investor Relations T: +61 413 355 997 E: jgardner@magnus.net.au

About Reed Resources

Reed Resources Ltd (ASX: RDR, OTC: RDRUY) is a Western Australian gold producer.

Reed Resources’ wholly owned Meekatharra Gold Operation 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 3Mtpa 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).

• Barrambie: Currently in approvals process and evaluating recovery of titanium, vanadium and iron units via a proprietary hydrometallurgical processing route.

• Comet Vale: Currently on care & maintenance. High grade resource of 209,500oz at 7.6g/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 they appear.