Mt Finnerty Project

Reed Exploration Pty Ltd, a wholly owned subsidiary of Reed Resources Ltd, has an option to purchase the Mt. Finnerty tenements (E16/305 and E16/303) by the payment of $500,000 in cash and 1,500,000 Reed Resources Ltd shares.

The terms of the Mt. Finnerty option to purchase are the payment of $10,000 for the initial twelve month option which is extendable by a further three, twelve month periods by the payment of $20,000 for each twelve month extension.

A reverse circulation drilling program is scheduled to commence in the September quarter 2011 to test geochemical and geophysical nickel targets on basal ultramafic contacts .

Mt Geraldine Project

Southern Cross Goldfields Ltd has an option to purchase the Mt. Geraldine tenements (R77/1 and R77/2) by the payment of $500,000 in cash and 20,000,000 Southern Cross Goldfields Ltd shares.

The terms of the Mt. Geraldine option to purchase are the payment of $20,000 for an initial six month option which is extendable by a further three, six month periods by the payment of $20,000 for each six month extension.

Southern Cross Goldfields Ltd plans to upgrade the current inferred resource of 1.7 million tonnes at 2.5 g/t gold (140,000 ozs of contained gold) at the Red Legs and Die Hardy deposits, by a targeted drilling program, to indicated or measured resource categories.