The Meekatharra gold project, which is located in central Western Australia, is a wholly owned entity of Reed Resources Ltd and was acquired in January 2011.

The project represents a tenement holding of almost 1000km2 and resides within the Murchison District of Western Australia. This area of Greenstones is host to multiple multi-million ounce deposits such as Mt Magnet (8Moz production) and Tuckabianna (1Moz production). The project includes resources of 2.5Moz @ 1.7g/t, reserves of 500koz @ 3.5g/t and key infrastructure which includes a 3Mtpa processing plant, a 200-man camp, offices and a 7MW diesel power plant with a replacement value >A$100 million.

Project History

The Greenstones within the tenement package host several deposits with proven historical production in excess of 1Moz. Paddys Flat near Meekatharra has historical gold production of 2.3Moz, the Bluebird mining centre has produced 1.2Moz and the Reedy Mine has produced 1Moz.

Underground mining was largely historical (pre 1950’s) with most modern mining (post 1980) being undertaken through open pits exploiting the shallow resources.

Metana Minerals, St Barbara Mines and Mercator Gold were the previous owners of this tenement holding and equipped the site with infrastructure to support a 200 man workforce and a mill capable of processing up to 3MTpa. This infrastructure was included in the acquisition.

Project Geology & Strategy

The geology within this Greenstone sequence is variable, complex and has been intensely structurally deformed by both intruding granitoids and by tectonic events. This has provided an extensive plumbing system for gold bearing fluids to exploit. As such this project hosts a widespread suite of varying mineralisation styles from massive stock-work orebodies to narrow high grade vein style deposits.

The existing resources of 2.5Moz and 0.5Moz reserves were last calculated at a gold price of $750-$800/oz. The mining and geology team are re-modelling and re-optimising the main resources at current economics with a view to targeted resource conversion and expansion. Within the next 24 months, a feasibility study and mining plan will be developed exploiting multiple ore-streams from multiple sources, reducing the mining risk and allowing sustainable mining and exploration within the Murchison District and bolstering Reed Resources vision to becoming an Australian Mid-tier gold producer.

2012-02-16 02:00:29

January 19, 2012

Gold reserves increased by 40% to more than 750,000oz

Total Reserves (including underground) increased 40% to 750,800oz of gold

Open pit Reserves increased 59% from 308,000oz to 491,700oz

Bankable Feasibility Study on schedule to be delivered in February

Finalisation of Paddys Flat ‘Super Pit’ optimisation imminent

January 11, 2012

Key appointments to support production and expansion at Meekatharra Gold Project

Reed Resources Ltd has bolstered its management and operations team with the appointments of Mr David Lim as Chief Financial Officer, Mr Geoffrey Cheong as Processing Manager, and Mr Kenneth Fairless as Maintenance Superintendent.

The appointments further expand the management and operations experience of Reed Resources and strongly position the Company to bring its flagship Meekatharra Gold Project back into production in late 2012.

November 15, 2011

Meekatharra - Resource and Reserve Upgrade

Total Resources increase by 498,000oz to 3.27Moz.

Open pit Reserves increase by 18% from 251,000oz to 308,800oz.

Total Reserves (including underground) now stand at 533,700oz.

New open pit Reserves strengthen a robust mining plan.

October 5, 2011

Presentation - Meekatharra Gold Update

September 9, 2011

Meekatharra - Underground Gold Reserve

Total underground Probable Reserves of 1.96Mt @ 3.6g/t for 225,000oz.

Underground mining plan completed accessing five ore bodies from existing single decline.

August 29, 2011

Meekatharra - Project Update and Drilling Results

Key Bankable Feasibility Study work packages for recommencement of production are ahead of schedule.

A mine plan to produce ~120,000 ounces pa from 1.5Mtpa of open pit/underground ore is nearing completion.

Work has commenced on optimisation of a ’Paddys Flat Super-Pit‘.

A successful maiden drilling campaign has yielded results including:

• 3m @ 2.15g/t Au, 5.0 g/t Ag and 1.1% Cu intersected at Chunderloo
• 3m @ 5.84 g/t Au and 2m @ 4.4 g/t Au intersections outside Batavia reserve
• 10m @ 2.45 g/t Au intersection extends strike length at Whangamata by 300m
• 1m @ 142 g/t Au intersected at new prospect, Sirdar.

July 6, 2011

Meekatharra - Secures Adjoining Nannine Project

Option secured to acquire outright ownership of the Nannine Mining Centre.

Opportunity to extend Reed Resources’ Meekatharra land holding to a 110km long continuous land package from Reedy to Meekatharra North.

Land holding of 147km² to potentially add to existing 800km² endowment.

Historical mining at Nannine has produced over 200,000oz from pits and high grade underground.

Existing resources of 580,000t @ 3.2g/t for 59,000oz.

July 1, 2011

Completion of Meekatharra acquisition and commencement of drilling

Settlement of the Meekatharra Gold Project acquisition to occur today.

Commencement of Resource extension and exploration RC drilling:

• Diamond drilling for geotechnical and metallurgical information to commence on 12th July at the 600,000oz Mickey Doolan resource;
• Targets include Chunderloo copper-gold, Bluebird and Paddys Flat.

June 22, 2011

Underground Resources Increased at Meekatharra Gold Project

Re-interpretation of the Vivian-Consols-Mudlode-Fatts ore system completed.

Resource estimate by Snowden increases the global resource from 1.78Mt for 318,000oz to 1.77Mt for 373,000oz, due to a 17% increase in grade.

Underground reserve and mine design in progress on new model.

Recommencement strategy to include underground operations.

May 26, 2011

Meekatharra Gold Reserves Increased by 96,000oz

New open-pit reserve at Prohibition of 1.11Mt @ 2.7g/t Au for 96,000oz.

Since acquisition open-pit reserves have been increased by 137,000oz, or 32%, to 250,000oz, with Total Reserves now at 559,000oz.

New Underground mine plan at Paddys Flat to commence in June – current Reserve 1.99Mt at 4.8 g/t Au for 308,000oz.

Metallurgical drilling and optimisations to commence on the 600,000oz Mickey Doolan/Phar Lap resource.

May 5, 2011

Resources-Reserves Increased as Project Progresses Ahead of Schedule at Meekatharra

Resource increase at three deposits within Project:

• Prohibition Resource INCREASED by 2.8MT for an additional 158,000oz
• Surprise and Jess identify additional new Resources of 40,000oz

Reedys first open pit Reserve since 1997 of 36,600oz has been completed on Jack Ryan, Rand and Callisto Pits at a gold price of A$1300/oz.

Mickey Doolan and Prohibition pit optimisations commence.

Resource-Reserve and exploration drilling planned to commence in July.

Project progressing ahead of schedule.

March 31, 2011

Updated Gold Resource and Reserve Estimates at Meekatharra Project

New Bluebird Reserve of 1,410,000t @ 1.92g/t for 87,000oz represents base load feed for first year's planned gold production.

Resource/Reserve extension drilling planned for landbridge between Bluebird and South Junction Pits and infill drilling of Inferred Resources within the current pit shell.

New Rand Resource completed by Snowden has 10% higher grade and increases contained ounces 23% to 233,000oz.

Remodelling of Prohibition, Surprise, South Emu and Whangamata are well advanced.

Resource definition drilling planned for Yaloginda and Paddy's Flat as part of a near mine expansion project.

March 17, 2011

Reed uncovers high grade copper-gold at Meekatharra

High grade intersections around historic Chunderloo Copper Mine.

Chunderloo copper-gold-silver target includes intersection of 15m @ 14.7g/t Au and 4.1% Cu (including 7m of 28.9 g/t Au and 8.3% Cu).

Numerous geochemical and geophysical targets over 1.5km strike.

March 11, 2011

Meekatharra Gold Project Update and Mineral Resource Estimate

Successful first steps in ‘grade focussed’ strategy for Meekatharra.

Re-estimation of Resources at Jack Ryan boosts overall grade by 34%.

Completed the first Resource estimate at Callisto Project since mining ceased in 1997.

Re-interpretations at the Rand, Prohibition, Surprise and Vivian-Consols deposits is in progress.

Re-optimisation of Reserves at Bluebird at current gold prices is underway.

Key consultants engaged to assist with the re-starting of the Meekatharra project.

February 24, 2011

Reed to raise $40 million through Placement and underwritten Share Purchase Plan

$30 million Placement to sophisticated and institutional investors in two tranches.

$10 million underwritten Share Purchase Plan to existing shareholders.

Funds raised to be applied to the acquisition of the 2.5M Oz Meekatharra Gold Project and to supplement existing working capital.

The Placement was heavily oversubscribed, demonstrating strong investor interest in the Company’s gold, lithium and vanadium assets.

January 11, 2011

Reed Resources acquires 2.5Moz Meekatharra Gold Project for A$28 Million

Reed Resources to acquire 100% tenements and assets held by Mercator Gold Australia Pty Ltd for $A26.7 million and 2 million Reed Resources shares.

Key asset, Meekatharra Gold Project, totals >800 km2 of granted tenements, with JORC Code compliant gold Resources of 2.5Moz and 0.42Moz in Reserves, with significant expansion potential

Key infrastructure includes 3Mtpa processing plant, a 200-man camp, offices and a 7MW diesel power plant with a replacement value >A$100 million.

Acquisition strategically positions the Company to create a mid-tier gold producer and is part of a broader strategy to consolidate, incubate and potentially “spin - out” its gold assets into a new company.

January 10, 2011

Trading Halt

The Company anticipates being in a position to make an announcement regarding the acquisition prior to the commencement of trading on Thursday, 13 January 2011.