NEOMETALS LTD — Director's Dealing 2009

Mar 16, 2009

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

17 March 2009

Company Announcements Office Australian Securities Exchange Limited Via Electronic Lodgement

Dear Sirs,

CHANGE OF DIRECTOR’S INTEREST CHANGE IN SUBSTANTIAL SHAREHOLDING

Please find attached an Appendix 3Y Notice and a Form 604 for on-market purchases by David Reed.

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 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	3 December 2008

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.	A. David John Reed C. Trucking Nominees Pty Ltd ATF D.J.Reed Superannuation Fund (Director and Fund Member)
Date of change	16 March 2009
No. of securities held prior to change A. David John Reed B. Trucking Nominees Pty Ltd C.Trucking Nominees Pty Ltd ATF D.J.Reed Superannuation Fund D. Judith Mary Reed	8,504,015 711,900 11,361,900 111,900
Class	Ordinary Fully Paid

17 March 2009

Appendix 3Y Change of Director’s Interest Notice

Number acquired A. David John Reed C. Trucking Nominees Pty Ltd ATF D.J.Reed Superannuation Fund	500,000 500,000
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	A. $90,297.00 C. $90,297.00
No. of securities held after change A. David John Reed B. Trucking Nominees Pty Ltd C.Trucking Nominees Pty Ltd ATF D.J.Reed Superannuation Fund D. Judith Mary Reed	9,004,015 711,900 11,861,900 111,900
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.

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

17 March 2009

Page 1 of 2

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme REED RESOURCES LTD

ACN/ARSN 099 116 631

1. Details of substantial holder(1)

Name

REFER TO ANNEXURE A

ACN/ARSN (if applicable)

There was a change in the interests of the substantial holder on 16 3 09 / / The previous notice was given to the company on 14 12 07 / / The previous notice was dated 14 12 07 / /

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice	Previous notice	Present notice	Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
ORDINARY FP	19,939,715	16.33%	21,689,715	15.78%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
	REFER TO ANNE	XURE B

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
	REFER TO ANNE	XURE C

Page 2 of 2

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
	NOT APPLICABLE

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
	REFER TO ANNEXURE D

Signature

OWN RIGHT AND AS DIRECTOR print name DAVID JOHN REED capacity OF TRUCKING NOMINEES PTY LTD SIGN sign here date 17 / 3 2009 /

DIRECTIONS

• (1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form.

• (2) See the definition of "associate" in section 9 of the Corporations Act 2001.

• (3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.

• (4) The voting shares of a company constitute one class unless divided into separate classes.

• (5) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

• (6) Include details of:

• (a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

• (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

• See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• (7) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, becom`e entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

• (8) If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown".

• (9) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

The annexure of one page marked Annexure A in Form 604, being Notice of change of interests of substantial shareholder

Name	ACN(if applicable)
David John Reed	-
Judith Mary Reed	-
Trucking Nominees Pty Ltd	008 911 233
Trucking Nominees Pty Ltd ATF DJ Reed Superannuation Fund	008 911 233

The annexure of one page marked Annexure B in Form 604, being Notice of change of interests of substantial shareholder

Date of change	Person whose relevant interest changed	Nature of change	Consideration given in relation to change	Class and number of securities affected
27/03/2008	Trucking Nominees Pty Ltd ATF DJ Reed Super Fund	On-Market Purchase	95,399.69 $	135,837
28/03/2008	Trucking Nominees Pty Ltd ATF DJ Reed Super Fund	On-Market Purchase	44,418.57 $	64,163
9/05/2008	David John Reed	On-Market Purchase	19,020.60 $	21,024
14/05/2008	David John Reed	On-Market Purchase	71,276.40 $	78,976
16/09/2008	Trucking Nominees Pty Ltd ATF DJ Reed Superannuation Fund	On-Market Purchase	53,750.70 $	118,896
18/09/2008	Trucking Nominees Pty Ltd ATF DJ Reed Superannuation Fund	On-Market Purchase	8,582.40 $	19,072
26/09/2008	Trucking Nominees Pty Ltd ATF DJ Reed Superannuation Fund	On-Market Purchase	5,414.40 $	12,032
26/09/2008	Trucking Nominees Pty Ltd ATF DJ Reed Superannuation Fund	On-Market Purchase	39,188.90 $	93,000
30/09/2008	Trucking Nominees Pty Ltd ATF DJ Reed Superannuation Fund	On-Market Purchase	2,940.00 $	7,000
10/10/2008	Trucking Nominees Pty Ltd ATF DJ Reed Superannuation Fund	On-Market Purchase	40,132.00 $	200,000
2/12/2008	Trucking Nominees Pty Ltd ATF DJ Reed Superannuation Fund	Off-Market Purchase	185,500.00 $	700,000
2/12/2008	David John Reed	Off-Market Sale	185,500.00 $	700,000 -
16/03/2009	Trucking Nominees Pty Ltd ATF DJ Reed Superannuation Fund	On-Market Purchase	90,297.00 $	500,000
16/03/2009	David John Reed	On-Market Purchase	90,297.00 $	500,000

1,750,000

The annexure of one page marked Annexure C in Form 604, being Notice of change of interests of substantial shareholder

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder	Nature of relevant interest	Class and number of securities	Person's votes
David John Reed	David John Reed	David John Reed	Registered and beneficial owner	9,004,015	6.54%
Judith Mary Reed	Judith Mary Reed	Judith Mary Reed	Spouse of David John Reed	111,900	0.08%
Trucking Nominees PtyLtd	Trucking Nominees PtyLtd	Trucking Nominees PtyLtd	David John Reed has a controlling interest in Trucking Nominees PtyLtd	711,900	0.52%
Trucking Nominees Pty Ltd (ATF DJ Reed Super Fund)	Trucking Nominees Pty Ltd (ATF DJ Reed Super Fund)	Trucking Nominees Pty Ltd (ATF DJ Reed Super Fund)	David John Reed is a member of Superannuation Fund	11,861,900	8.62%
Current Holding 21,689,715 15.76% Last 604 19,939,715 Current Difference 1,750,000 1% of issued cap 1,376,500

The annexure of one page marked Annexure D in Form 604, being Notice of change of interests of substantial shareholder

Name	Address
David John Reed	19 Avonmore Terrace COTTELSOE WA 6011
Judith Mary Reed	19 Avonmore Terrace COTTELSOE WA 6011
Trucking Nominees Pty Ltd	56 Ranch Road MARIGINIUP WA 6065