CRITICA LIMITED — Capital/Financing Update 2006

Nov 15, 2006

ACN 119678 385 Freemasons Building, 181 Roberts Rd Subiaco WA 6008 PO BOX 186 West Perth WA 6872 $T + 61893814222$ F: +61 8 9381 4211 W: ventureminerals.com.au

Thursday, 16 November 2006 Ref: VMS/606/007

Australian Stock Exchange Exchange Place 2 The Esplanade Perth WA 6000

Venture Identifies Significant Gold/Copper Mineralisation at the Paulsens South Project in WA

Australian based mineral exploration and company Venture Minerals Limited (ASX code: VMS) has identified a combined strike extent of over 1.5 kilometres of prospective quartz veins within the Highway Fault Zone at its 100% owned Paulsens South Project.

Rock chip sampling has returned values of up to 2.6 g/t Gold (Au), 4.4% Copper (Cu) and 58g/t Silver (Ag).

The Highway Fault Zone is analogous to the Melrose Fault Zone that contains the nearby 512,000oz (June 30 2006- mined reserves plus resources) Paulsens Gold Deposit currently being mined by Intrepid Mines Ltd.

The Paulsens South Project is located 4 kms southwest from the Paulsens Gold Deposit and 35 kms northeast from the recent Copper-Gold discoveries by Jackson Gold Ltd at their Minga Bore Prospect in the Ashburton Mineral Field of Western Australia.

In September, Venture completed a geological mapping program and remote sensing interpretation that delineated a 7 km strike extent of the Highway Fault Zone with potential to host Au-Cu mineralisation.

The consequent first phase of rock chip sampling (a total of 25 samples assayed for Au, Ag, Arsenic (As), Cu, Iron (Fe), Manganese (Mn), Nickel (Ni), Phosphorous (P), Lead (Pb) & Zinc (Zn)) has focussed on the more prospective quartz veins within the fault zone and returned several values >0.5% Cu and >0.1g/tAu.

A second phase of rock chip sampling and follow-up soil sampling will focus on generating targets for future drill programs as well as extending the prospective strike extent to 3 kilometres.

Kind regards VENTURE MINERALS LIMITED

aring.

Andrew Radonjic MANAGING DIRECTOR