NEOMETALS LTD — Director's Dealing 2008

Feb 28, 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

29 February 2008

Company Announcements Office Australian Securities Exchange Limited Via Electronic Lodgement

Dear Sirs,

CHANGE OF DIRECTOR’S INTEREST

Please find attached an Appendix 3Y Notice.

Yours faithfully,

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Christopher Reed MANAGING DIRECTOR

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Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

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 ACN 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 Ian Courtney Junk

Date of last notice 21 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 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	Direct/Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Aurora Prospects Pty Ltd Director/Shareholder
Date of change	26 February 2008
No. of securities held prior to change Ian Courtney Junk Aurora Prospects Pty Ltd Aurora Prospects Pty Ltd	(i) 261,900 Ordinary Fully Paid 250,000 Unlisted Options at 35c (ii) 511,900 Ordinary Fully Paid 500,000 Unlisted Options at 75c (iii) 261,900 Ordinary Fully Paid
Class	Ordinary Fully Paid
Number acquired
Number disposed	300,000

• See chapter 19 for defined terms.

29 February 2008

Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$240,005.57
No. of securities held after change Ian Courtney Junk Aurora Prospects Pty Ltd Aurora Prospects Pty Ltd	(i) 261,900 Ordinary Fully Paid 250,000 Unlisted Options at 35c (ii) 211,900 Ordinary Fully Paid 500,000 Unlisted Options at 75c (iii) 261,900 Ordinary Fully Paid
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 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.

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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
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• See chapter 19 for defined terms.

Appendix 3Y Page 2

29 February 2008