NEOMETALS LTD — Capital/Financing Update 2014

Feb 5, 2014

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

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ASX RELEASE

6 February 2014

Sale of Comet Vale Project

• $2 million conditional cash sale of Comet Vale Project.

• Consistent with Reed’s strategy of focusing on its Advanced Minerals projects and realising value for its suite of non-core assets.

Reed Resources Ltd ( ASX: RDR ) ( Reed or Company ) is pleased to announce that it has accepted a binding cash offer ( Offer ) for the conditional 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.

Under the transaction, Reed will receive a non-refundable deposit of $100,000 and $1 million on completion of the transfer of the shares in SQGM, plus up to a further $900,000 in instalments. Completion of the sale, and receipt of the $1 million payment, is expected to occur in the March Quarter of 2014, subject to limited due diligence conditions and to receiving certain third party consents.

The further instalments are expected to be received in June and September, subject to the transfer of the Comet Vale tenements in good standing, the transfer of related licences and assets and completion of certain ancillary arrangements.

Commenting on the sale, Reed Managing Director, Chris Reed, said: “With the Company fully focused on advancing its Advanced Minerals projects, it is the appropriate time to sell Comet Vale. This is consistent with the Company’s strategy of realising value for its suite of attractive non-core assets.”

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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