NEOMETALS LTD — Director's Dealing 2012

May 14, 2012

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Level 1, 672 Murray St West Perth WA 6005

Locked Bag 8 West Perth WA 6872 Tel: + 61 8 9322 1182 Fax: + 61 8 9321 0556

15 May 2012

Company Announcements Office ASX Limited Via Electronic Lodgement

Dear Sirs

Initial Director’s Interest Notice

Please find attached an Appendix 3X for Luke Tonkin following his commencement as Managing Director and Chief Executive Officer on 14 May 2012.

Yours faithfully

Darren Wates 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 (‘Company’)
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	Luke Tonkin
Date of appointment	14 May 2012

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

None.

• See chapter 19 for defined terms.

Appendix 3X Page 1

11/3/2002

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

Name of holder & nature of interest Note: Provide details of the circumstances giving rise to the relevant interest. None.	Number & class of Securities

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.

Detail of contract	Employment agreement
Nature of interest	Undertaking by the Company to issue securities to Mr Tonkin, subject to shareholder approval
Name of registered holder (if issued securities)	The securities will be issued to Mr Tonkin or his nominee
No. and class of securities to which interest relates	Subject to shareholder approval: 833,000 ordinary shares 833,000 performance rights vesting on 30 June 2013 and 834,000 performance rights vesting on 30 June 2014, and On or around the commencement of each financial year during the term of Mr Tonkin’s employment, performance rights to a value calculated in accordance with an agreed formula and subject to certain vesting conditions – see the Company’s announcement dated 24 April 2012. Further details of the above securities will be included in the notice of meeting to be released bythe Companyin due course.

• See chapter 19 for defined terms.

Appendix 3X Page 2

11/3/2002