NEOMETALS LTD — Director's Dealing 2006

Nov 15, 2006

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

16 November 2006

Company Announcements Office Australian Stock Exchange Limited Via Electronic Lodgement

Dear Sirs,

CHANGE OF DIRECTOR'S INTEREST

Please find attached an Appendix 3Y Notice.

Yours faithfully,

GReed

Christopher Reed Executive Director Company Secretary

Appendix 3Y

Rule 3.19A.2

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

	Name of entity REED RESOURCES LTD
IABN	89 099 116 631

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	CHRISTOPHER JOHN REED.
Date of last notice	27 JUNE 2006

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	INDIRECT
Nature of indirect interest	(iii) Reekal Pty Ltd
(including registered holder)	Director/Secretary
Note: Provide details of the circumstances giving rise to the relevant interest.	Member of Fund
	(iv) Nickel Investments Pty Ltd
	Sole Director/Secretary
	Beneficiary of Trust
Date of change	13 November 2006
No. of securities held prior to change
Christopher John Reed	(i) 1,641,287 Ordinary Fully Paid
	$1,000,000$ Unlisted Options $-35c$ (ii)
Reekal Pty Ltd	(iii) 300,000 Ordinary Fully Paid
Nickel Investments Pty Ltd	288,713 Ordinary Fully Paid (iv)
	400,000 Unlisted Options - 50c
Sonia Jean Reed	$400,000$ Unlisted Options $-50c$ (v)
Louron Exploration Pty Ltd	100,000 Unlisted Options - 50e (vi)
Gold Mines of Kalgoorlie Pty Ltd	100,000 Unlisted Options - 50e (vii)
Class	Ordinary Fully Paid

Number acquired	(iii)	50,000
Number disposed	(iv)	50,000
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$25,000
No. of securities held after change Christopher John Reed	(i) (ii)	1,641,287 Ordinary Fully Paid $1,000,000$ Unlisted Options $-35c$
Reekal Pty Ltd	(iii)	350,000 Ordinary Fully Paid
Nickel Investments Pty Ltd	(iv)	238,713 Ordinary Fully Paid $400,000$ Unlisted Options $-50c$
Sonia Jean Reed	(v)	$400,000$ Unlisted Options $-50c$
Louron Exploration Pty Ltd	(vi)	100,000 Unlisted Options $-50c$
Gold Mines of Kalgoorlie Pty Ltd	(vii)	100,000 Unlisted Options - 50e
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Off-market trade

Part 2 - Change of director's interests in contracts

Note: in the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract
Nature of interest
Name of registered holder (if issued securities)
Date of change
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change