Presentation to AMEC Conference 2010

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AMEC Presentation June 2010

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Overview Reed Resources (ASX: RDR) is a diversified mining and exploration company with 5 primary projects all based in WA. Current project portfolio includes: Mount Marion – Lithium Barrambie – Vanadium Comet Vale – Gold Mt Finnerty – Iron Ore and Nickel Bell Rock Range – Nickel and Copper Share Price Performance Company Snapshot

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Company Strategy

Mount Marion Lithium Project Overview : 

4 Mount Marion Lithium Project Overview Secured 2 year option to acquire, August 2009 Landmark JV with Mineral Resources Ltd (ASX 200) Substantial infrastructure enables fast-tracking of project to become second largest Spodumene producer in the world, planned production rate: 200,000 tpa of +6.5% Li2O. Mineral Resources JV: to fund all Evaluation and Development Costs, recover over mine life MIN to BOO Processing Plant + Operate project Operations Commencement Notice by 30 June and Commercial Production by 31 Dec 2010 to earn 40% of EBIT. RDR retain 60% EBIT and right to offtake Extensive drilling and evaluations have previously conducted by WMC (1960’s – 1980’s). Bill Crossley appointed as Project Manager for Mt.Marion – previously held the position of open cut/underground manager for Greenbushes, the world’s largest spodumene (lithium) and tantalum mine.

MINERAL RESOURCES LIMITED (ASX:MIN)(ASX200) : 

MINERAL RESOURCES LIMITED (ASX:MIN)(ASX200) Process Minerals Minerals and base metals processing, logistics, ship loading & marketing Crushing Services Australia’s largest specialist crushing, screening and materials movement contractor PIHA Pipeline, services, site infrastructure, contractor and polyethylene fittings manufacturer Polaris Metals Specialist Iron Ore resources company Mineral Resources Group

Flythrough : 

Flythrough

Resource Definition Drilling : 

Resource Definition Drilling Phase 1  139 RC holes Average Intercept 9.2m @ 1.5% Li2O Phase 2  57 RC/Diamond Average Intercept * 8.6m @ 1.4% Li2O Initial Exploration Target 7- 8 MT of 1.3 – 2.0% Li2O Resource Estimate - April 8.9 MT of 1.4% Li2O April 2010 - total contained lithium oxide resource increase by 220%, to 128,000 tonnes (Li2O). The planned production rate, subject to a decision to mine, is 200,000 tonnes per annum of +6.5% Li2O concentrate, which contains 13,000 tonnes lithium oxide (Li2O).

Cross Sections : 

8 Cross Sections Thick – av. 9m downhole intercept Shallow Gently dipping Ore virtually fresh from surface Ore visually distinguished (white) = Simple Open Pit Mining

Exploration Potential : 

9 Exploration Potential Potential for significant addition to the current resource base. Currently all 5 Deposits are open along strike and at depth Explored 1 of 3 Pegmatite Groups. New Resource Target being prepared

Plant Layout : 

Plant Layout Rolls Crusher Mobile Jaw Crusher

Beneficiation Plant : 

Beneficiation Plant Sister DMS Plant at Woodie Woodie Radio Hill Float Circuit Plant Control Room

Infrastructure and Logistics : 

Infrastructure and Logistics Western Power HV Powerline to site Abundant process water within 10km Access to existing haul roads(8km), then Sealed road (37km) to Bonnie Vale siding Open Access Rail to Port (670km) Bonnie Vale Siding

Logistics – Bulk – Kwinana Berth 2 : 

13 Logistics – Bulk – Kwinana Berth 2 Train Unloader

Lithium Strategy (*) Development Timetable : 

14 Lithium Strategy (*) Development Timetable (*) Subject to (*) Stage 1 - Subject to Decision to Mine Stage 2 - Subject to Feasibility Study, yet to be commissioned

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Lithium Market Overview

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16 Reed owns 100% of the world class, high-grade Barrambie Vanadium Project. Highest grade vanadium reserves in Australia. Attractive project economics from DFS and highly leveraged to a recovering vanadium price. Barrambie project is located 125 km north-east of the Windimurra project in Murchison region of Western Australia Barrambie is serviced by major regional roads. Safe water supply from Barrambie borefield Barrambie Native Title Agreement in place Strong support from local stakeholders Barrambie Vanadium Project Overview

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Barrambie Project Economics & Strategy Attractive economics and highly leveraged to the recovering world economy 12yr mine life; A$456m direct construction costs, A$172 EPCM, owners costs and contingencies; A$186m EBITDA at 5 year average vanadium price; and Operating cost of < US$20/kg Exclusivity Agreement with China Nonferrous Metal Industry’s Foreign Engineering and Construction Co., Ltd EPCM and Financing proposal on or before 31 August 2010 PER Lodged - Environmental Approval expected Q4 2010

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Vanadium Market Overview Tonnes V contained (‘000) Primary Production Secondary Production Co-Production 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 Evraz Panzhihua Xstrata Barrambie China Other Chengde Metallurg Stratcor Vanady Tula Chusovoy Vametco DEMAND SUPPLY

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Comet Vale - Gold Business Overview High grade underground mine High grade resource – 186,000oz @ 10.8g/t - 25% lift in grade FY09 production of ~3,225oz + 598 oz stockpiles (RDR share), FY09 cash costs ~A$588/oz FY10 production of ~ 3,575oz + 704 oz stockpiles (RDR share) Estimated FY10 cash costs ~ A$750/oz Ore Sale April ~ 16,260t @ 12.3 g/t Au - RDR share 2,400 oz @ A$775/oz Placed on care and maintenance 1 June 2010 – unable to secure milling agreement for FY11 Strategy - Establish Nimbus as a toll-milling facility and resume gold production 250,000 tpa Merrill-Crowe Circuit (hard rock) A$15M replacement cost, acquisition cost A$2.4m Finalising PFS on conversion to CIP at capacity’s of 200, 500, 750 and 1,000kt (1Mtpa) MIN funding connection to grid power Nimbus Processing Plant

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Comet Vale – De-Risked Through Development Est Life of Mine (“LoM”) to 31 May 2010 – 81,000t @ 10g/t (Grade increasing at depth)

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Mt Finnerty - Iron Ore 20:80 JV with Cleveland Cliffs (Australia’s fourth largest iron ore exporter) Strategy : Satellite for Koolyanobbing Target 5-10Mt of DSO. Maiden Resource Estimate 4.6Mt @ 54% Fe > 50 New Targets identified in Dec Q 09 Ground Geophysics March Q 10 7 Priority DSO Targets around FIN9, Mt Watt and Maitland

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Mt Finnerty - Nickel Multiple high MgO ultramafics over 45km strike confirmed by exploration to date. Exploration focussed on three clearly defined nickel sulphide areas Numerous geochemical, geophysical and structural targets Reed can earn 60% Nickel from Barranco by spending circa $1.5m on adjoining ground

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Bell Rock Range – Nickel and Copper Anglo American can earn 75% Nickel + Copper + PGE’s by spending $3m Target 25-30km strike of basal ultramafic an extensive geophysical survey in the form of a regional airborne electromagnetic (“EM”) survey using their highly successful proprietary “Spectrem” EM system Follow up ground activity will include AAE’s proprietary EM “SQUID” system to investigate anomalies generated from the airborne survey. Aerial Survey flown – Ground truthing this CY.

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24 Board of Directors and Senior Management

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Company Strategy

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26 Disclaimer This document has been prepared by Reed Resources Ltd (“Reed” or “the Company”) to provide an update of the Company to investors and potential new shareholders. Any statements, opinions, projections, forecasts or other material contained in this document do not constitute any commitments, representations or warranties by Reed and associated entities or its directors, agents and employees.  Except as required by law, and only to the extent so required, directors, agents and employees of Reed shall in no way be liable to any person or body for any loss, claim, demand, damages, costs or expenses of whatsoever nature arising in any way out of, or in connection with, the information contained in the document. This document includes certain statements, opinions, projections, forecasts and other material, which reflect various assumptions.  The assumptions may or may not prove to be correct. Recipients of the document must make their own independent investigations, consideration and evaluation of the opportunity to invest in the Company.  By accepting this document the recipient agrees that if it proceeds further with its investigations, consideration or evaluation of the opportunity to invest in the Company it shall make and rely solely upon its own investigations and inquiries and will not in any way rely upon the document. Artists Acknowledgement Some elements of this presentation were used under the Creative Commons Attribution-Share Alike 2.0 Generic Licence and we would like to acknowledge the creators of some of the photos that were used and which were sourced from Flikr: gregory, mrhayata, decafinata, openDemocracy, mahalie, Andrew Turner, Thomas Roche, EverySpoon, apdk, Internet Dairy 26 Important Notice

JORC Statement : 

JORC Statement Competent Persons/ Exploration Results in General The information in this report that relates to exploration results is based on information compiled by Craig Fawcett (MAUSIMM), an employee of Reed Resources Ltd. Craig Fawcett has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which is being reported on to qualify as a Competent Person as defined in the Code for Reporting of Mineral Resources and Ore Reserves.  Craig Fawcett consents to the inclusion in the report of the matters in the form and context in which it appears. References to Exploration/Production targets and Potential While the company remains optimistic it will report increases in resources and reserves in the future, any discussion in relation to exploration targets, resource potential, reserves or ‘ore’ is only conceptual in nature, there has been insufficient exploration to define a Mineral Reserves and resources and it is uncertain if further exploration will result in the determination of a Mineral reserves and resources. Mt Marion Lithium Project – Mineral Resource Estimate Reed reported on the 14 April 2010 a resource of 8.9Mt @ 1.4% Li2O for the Mt Marion Deposits. While the Company intends to do further exploration on the Mt Marion Project tenements and remains optimistic it will report additional resources in the future, any discussion in relation to targets, resources, reserves or ‘ore’ over and above the resource of 8.9Mt @ 1.4% Li2O is only conceptual in nature. There has been insufficient explorations to define a Mineral Resources over and above the resource of 8.9Mt @ 1.4% Li2O, and it is uncertain if further exploration will result in the determination of a Mineral Resource over and above the resource of 8.9Mt @ 1.4% Li2O. The information in this report that relates to Mineral Resources (at Mt Marion) is based on information compiled by Mr. Robert Spiers who is a full time employee of Hellman & Schofield Pty Ltd and who is a Member of the Australian Institute of Geoscientists. Mr. Spiers has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr. Spiers consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

JORC Statement : 

JORC Statement Barrambie Vanadium Project – Mineral Resource Estimate Reed reported on the 13 February 2009 a resource of 65.2 million tonnes at 0.82% V2O5. While the Company intends to do further exploration on the Barrambie Project tenements and remains optimistic it will report additional resources in the future, any discussion in relation to targets, resources, reserves or ‘ore’ over and above the resource of 65.2 million tonnes at 0.82% V2O5 is only conceptual in nature. There has been insufficient explorations to define a Mineral Resources over and above the resource of 65.2 million tonnes at 0.82% V2O5, and it is uncertain if further exploration will result in the determination of a Mineral Resource over and above the resource of 65.2 million tonnes at 0.82% V2O5. Information in the report (released 13/02/2009) that relates to Mineral Resources is based on information compiled by Ms Stephanie Gotley and Mr Michael Andrew both Members of the Australasian Institute of Mining and Metallurgy (AusIMM), and Dr Bryan Smith a Member of the Australian Institute of Geoscientists (AIG). Ms Stephanie Gotley, Consultant Resource Geologist, and Mr Michael Andrew, Divisional Manager Resource Evaluation, are employed as consultants at Snowden and produced the resource estimate based on assay data and geological interpretations provided by Reed Resources Ltd. Ms Gotley and Mr Andrew have sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as Competent Persons as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results Mineral Resources and Ore Reserves”. Ms Gotley and Mr Andrew consent to the inclusion in this report of the matters based on their information in the form and context in which it appears. Barrambie Vanadium Project – Reserve Estimate Reed reported on the 5 May 2009 a probable reserve of 39.7 million tonnes at 0.82% V2O5. While the Company intends to do further exploration on the Barrambie Project tenements and remains optimistic it will report additional reserves in the future, any discussion in relation to targets, resources, reserves or ‘ore’ over and above the probable reserve of 39.7 million tonnes a 0.82% V2O5 is only conceptual in nature. There has been insufficient explorations to define a Mineral Resources over and above the resource of 65.2 million tonnes at 0.82% V2O5, and it is uncertain if further exploration will result in the determination of a Mineral Resource over and above the resource of 65.2 million tonnes at 0.82% V2O5 nor the development of a reserve over and above the probable reserve of 39.7 million at 0.82% V2O5. Information in this report that relates to the Ore Reserve is based on information compiled by Mr Frank Blanchfield who is a member of the Australasian Institute of Mining and Metallurgy (AusIMM), and Dr Bryan Smith who is a member of The AusIMM and a member of the Australian Institute of Geoscientists (AIG). Mr Frank Blanchfield is Principal Consultant at Snowden and produced the Ore Reserve estimate based on data and geological interpretations provided by Reed Resources Ltd. and developed by Snowden. Mr Blanchfield has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as Competent Person for the Ore Reserve sign-off as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results Mineral Resources and Ore Reserves”. All modifying Factors have been considered in the preparation of the Probable Mineral Reserve. Mr Blanchfield consents to the inclusion in this report of the matters based on their information in the form and context in which it appears.

JORC Statement : 

JORC Statement Comet Vale Gold Project – Mineral Resource Estimate Reed reported on the 8 April 2010 a resource of 534,000t @ 10.8 g/t Au for the Sand Queen Gold Mine. While the Company intends to do further exploration on the Comet Vale Project tenements and remains optimistic it will report additional resources in the future, any discussion in relation to targets, resources, reserves or ‘ore’ over and above the resource of 534,000t at 10.8 g/t Au is only conceptual in nature. There has been insufficient explorations to define a Mineral Resources over and above the resource of 534,000t @ 10.8 g/t Au, and it is uncertain if further exploration will result in the determination of a Mineral Resource over and above the resource of 534,000t @ 10.8 g/t Au. The information in this report that relates to that relates to geological interpretations and Mineral Resources (at Comet Vale)is based on information compiled by Mark Zammit of Cube Consulting Pty Ltd, who is a Member of The Australian Institute of Geoscientists (AIG) and Australasian Institute of Mining and Metallurgy (AusIMM). Mark Zammit has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Mineral Resources and Ore Reserves”. Mark Zammit consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Mt Finnerty Iron Ore Project – Mineral Resource Estimate Reed reported on the 14 April 2010 a resource of 4.66Mt @ 53.5% Fe for the Mt Finnerty Iron Ore Project, currently in Joint Venture with Cliffs Asia Pacific Iron Ore Pty Ltd. While the Company intends to do further exploration on the Mt Finnerty Project tenements and remains optimistic it will report additional resources in the future, any discussion in relation to targets, resources, reserves or ‘ore’ over and above the resource of 4.66Mt @ 53.5% Fe is only conceptual in nature. There has been insufficient explorations to define a Mineral Resources over and above the resource of 4.66Mt @ 53.5% Fe, and it is uncertain if further exploration will result in the determination of a Mineral Resource over and above the resource of 84.66Mt @ 53.5% Fe. Mineral Resource estimation has been compiled in accordance with the guidelines outlined in the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code, 2004) by Leonora Hackman and Duncan Hackman of Hackman and Associates Pty Ltd. Leonora Hackman is a member of the Australasian Institute of Mining and Metallurgy and Duncan Hackman is a member of the Australian Institute of Geoscientists. Both have sufficient experience relevant to the style of mineralization and type of deposit under consideration and to the activity undertaken to qualify as Competent Persons as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Leonora Hackman and Duncan Hackman consent to the inclusion of the Mineral Resource estimations in the form and context in which it appears.