NEOMETALS LTD — Director's Dealing 2007

May 13, 2007

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
ABN	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	David John Reed
Date of last notice	8 May 2007

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 ease 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 (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	C. Trucking Nominees Pty Ltd ATF D.J.Reed Superannuation Fund (Director and Fund Member)
Date of change	8 May 2007
No. of securities held prior to change
A. David John Reed	11,892,115 Ordinary Fully Paid
B. Trucking Nominees Pty Ltd	3,200,000 Ordinary Fully Paid
C.Trucking Nominees Pty Ltd ATF D.J.Reed Superannuation Fund	7,573,740 Ordinary Fully Paid
D. Judith Mary Reed	100,000 Ordinary Fully Paid
Class	Ordinary Fully Paid
Number acquired	26,260

Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	12,902.62
No. of securities held after change
A. David John Reed	11,892,115
B. Trucking Nominees Pty Ltd	3,200,000
C. Trucking Nominees Pty Ltd ATF D.J.Reed Superannuation Fund	7,600,000
D. Judith Mary Reed	100,000
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On-market trades

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
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change