Oh! I'm not an expert on kanji either, haha. But yeah, so, [@Xiro Zean], the reading doesn't affect the meaning of the name any. You can use either the Japanese or Chinese reading for kanji in a name, and it doesn't change the meaning itself - only the kanji themselves affect that. 

And yeah, I think Reo might be a reading exclusively used in names...? I could be wrong, but I haven't heard that reading for those kanji either. It looks to be used as a name in real life too, though. Might be one of those cases like "Raito" used as an unusual reading, haa.

As for the meaning, 嶺 means peak or summit, and I had to google 臣. Knew that it's used in the word for minister, but alone it seems to mean subject or a retainer? Make of that whatever meaning you will. (Mountaintop would sound cooler than "Retainer of the summit", at least...)