NEOMETALS LTD — Director's Dealing 2009

Jan 1, 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

2 January 2009

Company Announcements Office ASX Limited via Electronic Lodgement

Dear Sirs

CHANGE OF DIRECTOR’S INTEREST

Please find attached Appendices 3Y's in respect of the lapse of options.

Yours faithfully

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Chris Reed

MANAGING DIRECTOR COMPANY SECRETARY

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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 Limited
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	Christopher John Reed
Date of last notice	23 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
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	1 Janaury 2008

• See chapter 19 for defined terms.

Appendix 3Y Page 1

2 January 2009

Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change A. Christopher John Reed B. Sonia Jean Reed C. Reekal Pty Ltd D. Nickel Investments Pty Ltd E. Louron Exploration Pty Ltd F. Gold Mines of Kalgoorlie Pty Ltd	1,341, 287 Ordinary Fully Paid 1,000,000 Unlisted Options at 35c 400,000 Unlisted Options at 50c 381,900 Ordinary Fully Paid 140,613 Ordinary Fully Paid 400,000 Unlisted Options at 50c 500,000 Unlisted Options at 75c 800,000 Unlisted Options at 85c 400,000 Unlisted Options at $1.20 100,000 Unlisted Options at 50c 200,000 Unlisted Options at 85c 200,000 Unlisted Options at $1.20 100,000 Unlisted Options at 50c 500,000 Unlisted Options at 75c
Class	Unlisted Options at $0.35
Number acquired
Number disposed	A. 1,000,000
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil

• See chapter 19 for defined terms.

Appendix 3Y Page 2

2 January 2009

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change A. Christopher John Reed B. Sonia Jean Reed C. Reekal Pty Ltd D. Nickel Investments Pty Ltd E. Louron Exploration Pty Ltd F. Gold Mines of Kalgoorlie Pty Ltd

1,341, 287 Ordinary Fully Paid 400,000 Unlisted Options at 50c 381,900 Ordinary Fully Paid 140,613 Ordinary Fully Paid 400,000 Unlisted Options at 50c 500,000 Unlisted Options at 75c 800,000 Unlisted Options at 85c 400,000 Unlisted Options at $1.20 100,000 Unlisted Options at 50c 200,000 Unlisted Options at 85c 200,000 Unlisted Options at $1.20 100,000 Unlisted Options at 50c 500,000 Unlisted Options at 75c

Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

Lapse of Options

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

• See chapter 19 for defined terms.

Appendix 3Y Page 3

2 January 2009

Appendix 3Y Change of Director’s Interest Notice

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

• See chapter 19 for defined terms.

Appendix 3Y Page 4

2 January 2009

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 Limited 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	Peter Lionel Fleury Collins
Date of last notice	23 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
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	1 January 2009
No. of securities held prior to change Peter Lionel Fleury Collins Pamela Maree Collins	285,705 Fully Paid Ordinary Shares 500,000 Unlisted Options – 35c 500,000 Unlisted Options – 75 c 200,000 Unlisted Options-$1.20
Class	Unlisted Options at $0.35
Number acquired
Number disposed	500,000
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil

2 January 2009

Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change Peter Lionel Fleury Collins 285,705 Fully Paid Ordinary Shares 500,000 Unlisted Options – 75 c Pamela Maree Collins 200,000 Unlisted Options - $1.20 Nature of change Lapse of Options Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

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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2 January 2009

Appendix 3Y Page 2

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 Limited
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	Ian Courtney Junk
Date of last notice	23 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
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	1 January 2009
No. of securities held prior to change A. Ian Courtney Junk B. Aurora Prospects Pty Ltd C. Aurora Prospects Pty Ltd	261,900 Ordinary Fully Paid 250,000 Unlisted Options at 35c 211,900 Ordinary Fully Paid 500,000 Unlisted Options at 75c 200,000 Unlisted Options at $1.20 261,900 Ordinary Fully Paid
Class	Unlisted Options at $0.35
Number acquired
Number disposed	250,000

• See chapter 19 for defined terms.

Appendix 3Y Page 1

2 January 2009

Appendix 3Y Change of Director’s Interest Notice

Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil
No. of securities held after change A. Ian Courtney Junk B. Aurora Prospects Pty Ltd C. Aurora Prospects Pty Ltd	261,900 Ordinary Fully Paid 211,900 Ordinary Fully Paid 500,000 Unlisted Options at 75c 200,000 Unlisted Options at $1.20 261,900 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	Lapse of Options

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

• See chapter 19 for defined terms.

Appendix 3Y Page 2

2 January 2009