NEOMETALS LTD — Capital/Financing Update 2014

Jun 22, 2014

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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 RELEASE

23 June 2014

Funding Update – Non Core Asset Sale

• Completion of sale of Comet Vale holding company, $1.06M received today, $750,000 due 27 June 2014.

Reed Resources Ltd ( ASX: RDR ) ( Reed or Company ) is pleased to provide this update on the sale of its subsidiary Sand Queen Gold Mines Pty Ltd ( SQGM ).

The Company today completed the sale of its subsidiary Sand Queen Gold Mines Pty Ltd ( SQGM ) to a private company. SQGM holds Reed’s Comet Vale Gold Project, located near Kalgoorlie.

Reed received a completion payment from the purchaser of $1 million. In addition, the purchaser has paid the Company a further amount of approximately $60,000, representing funds held by SQGM to support environmental bonds lodged with the Department of Mines and Petroleum.

In accordance with the sale agreement, the Company also expects to receive the final instalment of $750,000 on 27 June 2014.

ENDS

For further information please contact :

Chris Reed

Reed Resources Ltd

T: +61 89322 1182

• E: enquiries@reedresources.com

About Reed Resources

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

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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