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April 22, 2015

Quarterly Activities Report

Mt Marion Lithium Project

  • Binding MoU signed with MetalsX Ltd to acquire and lease various adjoining tenements and infrastructure, increasing exploration potential and reducing capital costs.
  • Discussions progressing for offtake commitments and partial selldown of RIM equity to accelerate development of lithium concentrate operation at Mt Marion.
  • Downstream intellectual property to be removed from potential RIM sale assets into dedicated special project vehicle owned 70:30 with Mineral Resources Ltd
  • New patent applications lodged to protect improvements in lithium hydroxide technology
     

Barrambie Titanium Project

  • Mini-pilot plant in Canada continues to produce high-purity titanium dioxide via a proprietary hydrometallurgical process
  • Pre-feasibility Study continuing with estimated completion by end June 2015

Mt Finnerty Project

  • Diamond drill hole intersects fine grained trace nickel and copper sulphides over significant thicknesses (27m @ 0.24% Ni) above intact basal footwall contact
     

Lake Johnston Project

  • Diamond drill hole intersects finely disseminated nickel and copper sulphides in high-Magnesian ultramafic intrusive over large spatial extent (38m @ 0.24 % Ni and 44m @ 0.25% Ni)

Corporate

  • Non-core Asset Divestment Program yields $200,000 from sale of gold rights at Forrestania and farm-out of gold rights at Barrambie
  • Evaluating divestment of nickel portfolio
  • Cash and restricted access term deposits $9 million

 

January 22, 2015

Acquires Lithium Rights and Infrastructure from Metals X

The Agreement will enable RIM to explore and develop extensions of the Company’s No 2 and No 2 West Lithium Deposits, located on the northern boundary of the Mt Marion Project, with Metals X to retain the gold rights. Prior drilling at the No 2 and No 2 West deposits by RIM in 2010-11, was restricted due to the tenement boundary, however results showed the ore body remained open suggesting that lithium mineralisation continues into the newly leased tenements. The Hampton Area Location 53 hosts spodumene outcropping previously identified and mapped by Western Mining Corporation, including the No 3 Deposit.

January 16, 2015

Quarterly Activities Report

Mt Marion Lithium Project

  • Semi- Pilot Plant in US successfully achieves 200hr of operation at 80% efficiency.
  • Optimisation testwork of semi-pilot plant in USA reduces power consumption by 15%.
  • Australian patent granted for lithium hydroxide technology.
  • Works Approval granted, upstream mining and processing project now fully permitted.

Barrambie Titanium Project

  • Optimisation testwork producing high-purity titanium dioxide via a proprietary hydrometallurgical process continues in Canada.
  • Sedgman and Snowden Mining Industry Consultants advancing Pre-feasibility Study, completion set for June Q 2015.

Mt Finnerty Project.

  • Diamond drill hole intersects first intact basal footwall contact.
  • Assay results expected by end of January 2015.

Lake Johnston Project.

  • Maiden diamond drill hole identifies finely disseminated nickel and copper sulphides in highMagnesian ultramafic rocks over large spatial extent, 38m @ 0.24 % Ni.
  • Second hole submitted for assay, results expected end of January 2015.

Corporate.

  • Convertible Note Facility extended on more favourable terms and Change of Company Name following Shareholder Approval at AGM.
  • Cash and restricted access term deposits $10.29 million.

December 18, 2014

Change of Company Name to Neometals Ltd (ASX: NMT)

Reed Resources Ltd is pleased to announce that, following shareholder approval at the Company’s recent Annual General Meeting, and receipt of a new Certificate of Registration for the Company from the Australian Securities and Investments Commission, the Company has changed its name to Neometals Ltd (Neometals) with immediate effect.

The name change and new ASX code (ASX: NMT) will be effected with the ASX on Friday, 19 December 2014.

November 7, 2014

Australian Patent Granted for Lithium Hydroxide Process

Patent for production of high purity Lithium Hydroxide.

Semi- Pilot Plant in US successfully achieves 200hr of operation at 80% efficiency.

Results confirm potential to deliver lowest-quartile operating costs as indicated in Pre- feasibility Study 2012.

October 29, 2014

Notice of Annual General Meeting

The 2014 Annual General Meeting of shareholders of Reed Resources Ltd will be held at:

The Celtic Club,
48 Ord Street,
West Perth,
on Friday, 28 November 2014
at 4:00pm Western Standard Time

October 29, 2014

Quarterly Activities Report

Mt Marion Lithium Project

  • Production of lithium hydroxide catholyte from semi‐pilot plant in USA continues.
  • Long‐run trial confirms potential to deliver lowest‐quartile operating costs as indicated in the Pre‐feasibility Study 2012.
  • Downstream partner selection commenced under management of senior lithium industry executive Mr Michael Tamlin.

Barrambie Titanium Project

  • Successful continuous production of high‐purity titanium dioxide via a proprietary hydrometallurgical process.
  • Results confirm potential to deliver lowest‐quartile operating costs as indicated in Scoping Study (2013).
  • Sedgman and Snowden Mining Industry Consultants commenced a Pre‐feasibility Study.
  • Mr D. Michael Spratt, former COO of Minproc, engaged to manage the study.

Mt Finnerty Project

  • EIS Co‐funded diamond drilling approved for December Q 2014.

Lake Johnston Project

  • New geophysical target identified beneath historic nickel sulphide intersection.
  • Diamond Drilling commenced in October 2014.

Corporate

  • 24M shares bought back and cancelled following Shareholder Approval at EGM.
  • Cash and restricted access term deposits $11.7 million.

October 17, 2014

Reed Commences Drilling of High Priority Nickel Targets

Diamond drilling to test Green Dam and Mt Gordon nickel targets anomalies has commenced.

The targets are in close proximity to previously intersected disseminated nickel sulphides

September 2, 2014

Successful Mini-Pilot Plant and PFS commenced

Continuous production of high-purity titanium dioxide via a proprietary hydrometallurgical process.

Results confirm potential to deliver lowest-quartile operating costs as indicated in Scoping Study (2013).

Sedgman and Snowden Mining Industry Consultants to complete a Pre-feasibility Study to produce high-purity titanium dioxide, iron and vanadium chemicals direct from Barrambie ore using proprietary flow-sheet.

Pre-feasibility Study to be completed in March Q 2015.

Indexed, Relative Operating Costs for Standard Plant models in North America, Europe and China using Chloride or Sulfate Process Flowsheets compared to RDR Scoping Study (Q42013).
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