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Meekatharra Asset Acquisition Jan 2011


Important Notice 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 Mercator Gold, Scope, Ferrier Hodgson


The Acquisition

• Total Cash Consideration of $A25M • 2 Million Shares or Shares to the value of $A1.3M on a VWAP 5 day average (whichever is greater) • Total Resource of 2.5Moz • Total Reserve of 0.5Moz • Near Turn Key Operation • Exceptional Exploration-Resource-Reserve expansion potential


Why Meekatharra? – A WORLD Class Deposit • Historical Production Endowment of 4.5Moz in acquired project area • Proximal Mining Centres production of 9Moz for 13.5Moz in belt. • Total tenement holding of almost 1000km2 • 2.5Moz in resource and 0.44Moz in reserve • Asset valued on reserve alone – infrastructure “came free” (>$A100M replacement value) • Reserves last calculated when gold was $750-$800/oz


Mercator Gold


Paddys Flat

Overview


Paddys Flat

Prohibition Pit


Paddys Flat

Vivian-Consols-Fatts-Mudlode


Yaloginda

Bluebird Area


Yaloginda

Bluebird Pit Cross Section


Reedy Mine

Overview


Reedy Mine

Line of Lode Long Section


Reedy Mine

Jack Ryan Pit


Reedy Mine

South Emu & Triton Pits


Reedy Mine

Rand Pit


Resource & Reserve Summary – Global

Meekatharra North

Meekatharra

Yaloginda

Reedy

TOTAL

Type Open Pit

Underground

Indicated Inferred Sub-Total Indicated Inferred Sub-Total Indicated Inferred Sub-Total Indicated Inferred Sub-Total

706,000 174,000 880,000 17,879,000 7,925,000 25,804,000 9,693,000 3,856,000 13,549,000 2,043,000 2,404,000 4,447,000

Gold Grade (g/t) 1.3 1.2 1.3 1.7 1.4 1.6 1.7 1.8 1.7 2.4 2.4 2.4

Indicated Inferred TOTAL

30,321,000 14,359,000 44,680,000

1.7 1.7 1.7

Resource Classification

Project

Project Bluebird Surprise Sub-Total Prohbition Vivian/Consols Fattas/Mudlode Sub-Total

Meekatharra Package - TOTAL

$750-$800/oz

Tonnes

Reserve Classification Probable Probable Probable Probable Probable Probable Probable

Total Ounces 29,000 6,000 35,000 986,000 349,000 1,335,000 528,000 227,000 755,000 159,000 182,000 341,000

1,702,000 764,000 2,466,000

1,700,000 827,000 2,527,000 1,372,000 256,000 362,000 1,990,000

Gold Grade (g/t) 2.4 2.4 2.4 4.1 10.4 4.0 4.8

4,518,000

3.5

Tonnes

Total Ounces 133,000 63,000 196,000 179,000 83,000 46,000 308,000

504,000


Strategy – Planning for Success


Directors & Management

David Reed OAM FCPA Executive Chairman

Chris Reed Managing Director/ Chief Executive Officer

Steven Cole

Jason Carone CA

Non-executive Director

Company Secretary/

Corporate Advisor

Financial Controller

Dr Peter Collins

Bill Crossley

Non-executive Director

Project Manager/

Geologist

Mining Engineer

Ian Junk Non-executive Director Mining Engineer

Craig Fawcett Chief Geologist


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. Meekatharra Gold Project – Mineral Resource Estimate Reed Resources have compiled resource and reserve estimates from various documentation provided by Ferrier-Hodgson and as summarised by Snowden Consulting Pty Ltd in a Technical Review commissioned by Meekatharra Gold Corporation. The Company is aware that the resources and reserves have been estimated by various industry consultants since 2004. The information in this report that relates to Mineral Resources and Mineral reserves are based on information compiled by Mr. Craig Fawcett who is a full time employee of Reed Resources Ltd, and who is a Member of the Australian Institute of Mining and Metallurgy. Mr Fawcett 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. Fawcett consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Meekatharra Gold Project  

Overview of the Meekatharra Gold Project which was purchased by Reed Resources Ltd in January 2011.

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