ASX RELEASE

18 March 2015

ASX CODE

RWD

SHARE PRICE

$0.55

SHARES ON ISSUE

111.7M

OPTIONS

24.1M ($0.25 - $1.09)

MARKET CAPITALISATION

$61.4M (undiluted)

CASH POSITION

~$5.0M

(Dec'14 Qtly + Listed Investments)

DIRECTORS & MANAGEMENT

Colin McCavana

Chairman

Rod Della Vedova

Non-Executive Director

Michael Ruane

Managing Director

Daniel Tenardi

Projects Director

Paul Savich

Corporate Development Officer

Bianca Taveira

Company Secretary

KEY PROJECTS

LD Potash Project Karly Potash Project Dora Potash Project

HEAD OFFICE

Reward Minerals Ltd

159 Stirling Highway

Nedlands WA 6009

PO Box 1104

Nedlands WA 6909

ACN 009 173 602

ABN 50 009 173 602

T: 08 9386 4699

F: 08 9386 9473

E: [email protected]

Clarification Statement

JORC (2004) Compliance for LD Project Resource in

ASX Release of 12 March 2015

In relation to the announcement titled 'LD Project - Resource Expansion Drilling Commences' released to the ASX on 12 March 2015, Reward Minerals Limited ("Reward" or the "Company") wishes to clarify that it is currently reporting under the guidelines in the

2004 edition of the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2004), as stated in the below Competent Persons Statement.

Yours sincerely,

Bianca Taveira

Company Secretary

Competent Persons Statement

The information in the announcement that relates to the Mineral Resource Estimate for the LD Project is based on information compiled by Mr Simon Coxhell who is a full-time employee of Coxrocks Pty Ltd. Mr Coxhell is a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy and is a consultant to Reward Minerals Ltd. Mr Coxhell has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Coxhell consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
The information with respect to Resources was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.
www.rewardminerals.com