Dear Subscriber,

Reed Resources made an announcement today regarding thier Joint
Venture with Kingrose Mining Ltd at the Sand Queen Gold Mine.

The main points are:

Reed and Kingsrose have agreed to terminate the Production Joint
Venture effective June 1, 2010.

Reed will be entitled to 100% of production from June 1, 2010.

Reed will pay Kingsrose A$1M in cash and A$2M in shares.

Reed will also aquire the associated mining assets and infrastructure
for A$1M cash.

This will allow Reed to expand production from the underground
operations as well as to potentially exploit shallow open-pit
resources.

The complete announcement can be read at
http://reedresources.net/list/lt.php?id=N0UFA1pZBUoGVk0ACgA%3D

Regards

The Reed Resources Team



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