CRITICA LIMITED — Capital/Financing Update 2012

Jan 15, 2012

Venture Attracts US Fund at a Premium via Conversion of Management Options

ASX Announcement Monday 16/01/12 Ref: /VMS/606/VMS00270

Australian mineral exploration company, Venture Minerals Limited (ASX code: VMS) is pleased to announce that a US based investment fund has agreed to take approximately a 5% stake in the Company at a premium to market. The investment will follow the transfer and conversion of approximately 10 million management options, which have a strike price of 30 cents and are due to expire on the 20[th] of February 2012. Management have transferred the options for nil consideration in return for the options being converted immediately.

The conversion of the options will raise an additional $3 million in working capital for the Company and will boost its cash position to approximately $15.5 million. This affords Venture the opportunity to continue fast tracking the exciting new DSO projects while still completing the BFS on the Company’s flagship Mt Lindsay Tin/Tungsten Deposit.

Venture Managing Director Hamish Halliday commented, "We are very pleased with the transaction as it not only brings a significant New York based fund onto the register, but also bolsters our cash position with no dilution to Ventures capital base. The additional funds also allow us to continue fast tracking our DSO Projects which have the potential to deliver significant early cash flow.”

Kind regards

Venture Minerals Limited

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Hamish Halliday Managing Director

Venture Fast Facts

ASX Code: VMS Shares on Issue: 221 million Market Cap: $62 million Cash: $12.6 million (Dec 2011)

Recent Announcements

Venture Discovers Second DSO Hematite Prospect at Mt Lindsay, Tas (22/11/11)

Feasibility Drilling Hits 48m @ 0.8% Tin Equiv. Mt Lindsay Project, Tasmania (9/11/11)

Venture Completes Feasibility Drilling on Main Skarn – Mt Lindsay Project (27/09/11)

Mining Lease Applications (16/09/11)

Venture Signs with Grange Resources (05/09/11)

Maiden Resource and Scoping Study for New Deposit (29/07/2011)

Drilling at the Reward Project Continues to Deliver (02/06/2011)

Venture Appoints Key Management, Mt Lindsay Project (06/05/11)

Located in North-West Tasmania 140 years of mining precedent

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WA 6008 PO BOX 186 West Perth WA 6872 T: +61 8 9381 4222 F: +61 8 9381 4211 W: www.ventureminerals.com.au E: info@ventureminerals.com.au