NEOMETALS LTD — Director's Dealing 2008

Jul 23, 2008

Reed Resources Ltd

ABN 89 099 116 631

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

24 July 2008

Company Announcements Office Australian Securities Exchange Limited Via Electronic Lodgement

Dear Sirs,

INITIAL DIRECTOR’S INTEREST

Please find attached an Appendix 3X Notice.

Yours faithfully,

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Christopher Reed MANAGING DIRECTOR COMPANY SECRETARY

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Appendix 3X Initial Director’s Interest Notice

Rule 3.19A.1

Appendix 3X

Initial 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.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Steven Cole
Date of appointment	24 July 2008

Part 1 - Director’s relevant interests in securities of which the director is the registered holder

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.

Number & class of securities

• See chapter 19 for defined terms.

24 July 2008

Appendix 3X Page 1

Appendix 3X Initial Director’s Interest Notice

Part 2 – Director’s relevant interests in securities of which the director is not the registered holder

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

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----- Start of picture text ----- Name of holder & nature of Number & class of SecuritiesinterestNote: Provide details of the circumstances giving rise tothe relevant interest.1,900 fully paid ordinary sharesGidleigh Pty Ltd (of which StevenCole is Director and CompanySecretary)----- End of picture text -----

Part 3 – 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.

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----- Start of picture text ----- Detail of contractNature of interestName of registered holder(if issued securities)No. and class of securities towhich interest relates----- End of picture text -----

• See chapter 19 for defined terms.

Appendix 3X Page 2

24 July 2008