NEOMETALS LTD — Share Issue/Capital Change 2010

May 31, 2010

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97 Outram St West Perth WA 6005 Tel: + 61 8 9322 1182 Fax: + 61 8 9321 0556

1 June 2010

The Manager Company Announcements Office ASX Limited

Dear Sir,

Notice under section 708 (5)(e) of the Corporations Act

On 1 June 2010, Reed Resources Ltd (ACN 099 116 631) ( Company ) issued 4,011,131 shares in the Company to Kingsrose Mining Ltd.

The Company gives notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) (Act) that:

1. the Company issued 4,011,131 fully paid ordinary shares ( Shares );

2. the Company issued the Shares without disclosure to investors under Part 6D.2 of the Act;

3. as at the date of this notice, the Company has complied with;

   • the provisions of Chapter 2M of the Act as they apply to the Company; and

   • section 674 of the Act as it applies to the Company; and

4. as at the date of this notice, there is no ‘excluded information’ within the meaning of subsections 708(7) and (8) of the Act.

Yours faithfully

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Jason Carone

COMPANY SECRETARY

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