NEOMETALS LTD — Director's Dealing 2010

May 30, 2010

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

31 May 2010

Company Announcements Office Australian Securities Exchange Limited Via Electronic Lodgement

Dear Sirs,

CHANGE OF DIRECTOR’S INTEREST

Please find attached an Appendix 3Y Notice for 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	9 December 2009

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	Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	C. Coal Holdings Pty LtdDirector/Secretary
Date of change	27 May 2010
No. of securities held after changeA. David John ReedB. Judith Mary ReedC. Trucking Nominees Pty LtdD.Trucking Nominees Pty LtdATF D.J.Reed Superannuation FundE. Coal Holdings Pty Ltd	9,019,149 Ordinary Fully Paid127,034 Ordinary Fully Paid727,034 Ordinary Fully Paid1,500,000 Unlisted Options at $0.8011,877,034 Ordinary Fully PaidNil
Class	Ordinary Full Paid
Number acquiredE. Coal Holdings Pty Ltd	400,000

Appendix 3Y Page 1

31 May 2010

Appendix 3Y Change of Director’s Interest Notice

Number disposedA. David John Reed	400,000
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	$204,000
No. of securities held after changeA. David John ReedB. Judith Mary ReedC. Trucking Nominees Pty LtdD.Trucking Nominees Pty LtdATF D.J.Reed Superannuation FundE. Coal Holdings Pty Ltd	8,619,149 Ordinary Fully Paid127,034 Ordinary Fully Paid727,034 Ordinary Fully Paid1,500,000 Unlisted Options at $0.8011,877,034 Ordinary Fully Paid400,000 Ordinary Fully Paid
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	Off-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

Appendix 3Y Page 2

31 May 2010