Dear Subscriber, the Company released an update to the market today regarding discussions with NFC.

The announcement was as follows: Australian diversified resources company Reed Resources Ltd (ASX: RDR) (“Reed” or “the Company”) announces that it has extended the exclusivity period with China Non-ferrous Metal Industry’s Foreign Engineering and Construction Co.

Ltd (“NFC”). A delegation of senior NFC technical and commercial management representatives have completed a 5 day visit to Perth which included a site visit.

As a result of the visit and the discussions held with Reed’s technical and management teams, the Company has agreed to extend the exclusivity arrangements to 30 September 2010. Reed has agreed to deal exclusively with NFC and Arccon regarding a development and financing proposal, which, if successfully concluded, would allow development of Reed’s Barrambie Vanadium Project in Western Australia. The discussions to date relate to the provision of a fixed-price engineering, procurement and construction contract and project financing assistance by NFC for Barrambie, which is recognised as one of the world’s highest grade vanadium deposits. Whilst due diligence has substantially progressed, discussions are at a preliminary stage.

No party is under any obligation to proceed and there is no certainty that a transaction will eventuate. Reed will keep the market informed should anything of a more formal and or complete nature be received. regards The Reed Resources Team ____ For more comprehensive news coverage, subscribe to our RSS feed at http://reedresources.net/list/lt.php?id=N0UAAVdVBwRJUwBIBgwD Follow us on facebook at http://reedresources.net/list/lt.php?id=N0UAAVdVBwdJUwBIBgwD To unsubscribe go to http://reedresources.net/list/lt.php?id=N0UAAVdVAA5JUwBIBgwD To update your preferences visit http://reedresources.net/list/lt.php?id=N0UAAVdVAA9JUwBIBgwD To forward this message to someone click http://reedresources.net/list/lt.php?id=N0UAAVdVBwZJUwBIBgwD
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