News Column

Reed Resources Ltd. - Funding Update, Non Core Asset Sale

June 26, 2014



ENP Newswire - 26 June 2014

Release date- 24062014 - Reed Resources Ltd (ASX: RDR) is pleased to provide this update on the sale of its subsidiary Sand Queen Gold Mines Pty Ltd.

The Company today completed the sale of its subsidiary Sand Queen Gold Mines Pty Ltd (SQGM) to a private company. SQGM holds Reed's Comet Vale Gold Project, located near Kalgoorlie. Reed received a completion payment from the purchaser of $1 million.

In addition, the purchaser has paid the Company a further amount of approximately $60,000, representing funds held by SQGM to support environmental bonds lodged with the Department of Mines and Petroleum. In accordance with the sale agreement, the Company also expects to receive the final installment of $750,000 on 27 June 2014.

Contact:

Chris Reed

Reed Resources Ltd

Tel: +61 89322 1182

Email: enquiries@reedresources.com

About Reed Resources

Reed Resources Ltd (ASX: RDR, OTC: RDRUY) is a Western Australian resource developer. Reed Resources' American Depositary Receipts (ADR's) trade under the code RDRUY (CUSIP Number: 758254106).

Each Reed Resources ADR is equivalent to 10 ordinary shares of Reed Resources as traded on the ASX. The Bank of New York Mellon is the depository bank.


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Source: ENP Newswire


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