DEVELOP GLOBAL LIMITED — AGM Information 2015

Nov 26, 2015

Annual General Meeting Presentation

“ Back to Basics”

27 November 2015

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Disclaimers

Cautionary Statement

The information contained in this document (“Presentation”) has been prepared by Venturex Resources Limited (“Company”). This presentation is being used as a presenter’s aid with summarised information. See Venturex’s other and periodic disclosure announcements lodged with the Australian Securities Exchange, which are available at www.asx.com.au or at www.venturexresources.com, for more information.

While the information contained in this Presentation has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers give any representations or warranties (express or implied) as to the accuracy, reliability or completeness of the information in this Presentation, or of any other written or oral information made or to be made available to any interested party or its advisers (all such information being referred to as "Information") and liability therefore is expressly disclaimed. Accordingly, to the full extent permitted by law, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers take any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortious, statutory or otherwise, in respect of, the accuracy or completeness of the Information or for any of the opinions contained in this Presentation or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this Presentation.

This Presentation may include certain statements that may be deemed “forward-looking statements”. All statements in this presentation, other than statements of historical facts, that address future activities and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. The Company, its shareholders, directors, officers, agents, employees or advisers, do not represent, warrant or guarantee, expressly or impliedly, that the information in this Presentation is complete or accurate. To the maximum extent permitted by law, the Company disclaims any responsibility to inform any recipient of this Presentation of any matter that subsequently comes to its notice which may affect any of the information contained in this Presentation. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Venturex assumes no obligation for to update such information.

Investors are cautioned that any forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in forward-looking statements. Please undertake your own evaluation of the information in this presentation and consult your professional advisers if you wish to buy or sell Venturex shares.

Competency Statement

The information in this presentation that relates to Exploration Results, Mineral Resources and Ore Reserves is based on information compiled or reviewed by James Guy who is a Member of the Australasian Institute of Mining and Metallurgy. The information contained in this presentation was previously released in announcements “Company Resource and Reserve Statement – Revised” released 8th October 2013 , and “Kangaroo Caves Resource Upgrade” issued 22 September 2015 .

The Company confirms that:

• a. The form and context of the material in this presentation has not been materially modified from the above previous announcements;

• b. It is not aware of any new information or data that materially affects the information included in the 8 October 2013 announcement and that all material assumptions and technical parameters underpinning the estimate in the 8 October 2013 and 22 September 2015 announcement’s continue to apply and have not materially changed; and

• c. It is uncertain that following further exploration and evaluation that the historical estimates will be able to be reported as mineral resources or ore reserves in accordance with the JORC 2012 Code.

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Venturex Resources Overview

• Pure Australian Copper-Zinc Explorer/Developer

• Central location in the Pilbara near Port Hedland

• Substantial Cu-Zn resource inventory in place

• Two advanced projects with development options

• Strong leverage to rising base metal prices - Cu, Zn – and falling exchange rate

• Substantial exploration upside in proven terrains

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Two Advanced Copper Zinc Projects in the Pilbara

Total Resource 23.6Mt grading 1.3%Cu 3.8%Zn 0.3%Pb 20.1 g/t Ag 307,000 t Contained Copper 897,000t Contained Zinc

Salt Creek Whim Creek Mons Cupri Evelyn

Whim Creek Project

Panorama Project

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Sulphur Springs
Kangaroo Caves
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 Copper  Lead  Zinc  Silver  Gold

2 Circle size reflects tonnes of contained Cu Eq metal

1 CuEq is based on Cu US$3.00/lb, Zn US$1.00/lb, Pb US$1.00/lb, Ag US$20/oz, Au $1,300/oz plus metallurgical recovery factors

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Panorama
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Optimisation
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Results
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Key Changes

• Upper part of Sulphur Springs deposit will be mined by open cut

• Kangaroo Caves Underground Mine included in mining inventory

• Reversion to conventional lined tailings dam

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Results

• Less pre-production capital

• Simpler to mine and operate

10.45Mt

The LoM schedule is derived from a mining inventory of which 67% is Indicated Resources and 33% is Inferred Resources, the LoM mining inventory does not constitute an Ore Reserve. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the production target itself will be realised.

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Panorama Project Optimisation Study Results

Metric 2012 DFS Case November 2015	Metric 2012 DFS Case November 2015	Metric 2012 DFS Case November 2015	Metric 2012 DFS Case November 2015
Underground Mine & Process Rate		1.0 million tpa	1.0 million tpa
Average	payable metal production (Y 1 to 6)	16,500t Cu 29,200t Zn 85,400ozs Ag	15,000t Cu 31,500t Zn 200,000ozs Ag
Payable	Metal Produced	136,400t Cu, 245,700t Zn, 1.7Mozs Ag	130,800t Cu, 339,600t Zn, 2.25Mozs Ag
Mine Life		8.5 years +	11 years
**Life of Mine C1 Operating Cost1 **		A$1.07/lb payable Cu	A$0.84 lb payable Cu
Pre-Production Expenditure		A$279 M	A$202 M
Payback from First Production		3.3 years	2.1 years
EBITDA		A$805 million	A$878 M
Pre-tax NPV10 real		A$178 million	A$264M
IRR		25%	42%
Price Assumptions (average)		Cu-US$6,700/t Zn-US$2,400/t Ag- US16/oz A$/US$ 0.74	Cu-US$6,700/t Zn-US$2,400/t Ag-US16/oz A$/US$ 0.74

1 C1 Operating Costs = projected cash costs including mining, processing, site administration and concentrate transport and shipping, TC/RC charges less byproduct credits (Zn, Pb, Ag, Au) using price assumptions quoted. The LoM schedule is derived from a mining inventory of which 67% is Indicated Resources and 33% is Inferred Resources, the LoM mining inventory does not constitute an Ore Reserve. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the production target itself will be realised.

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Panorama Project Optimisation - Cash Flow

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Sulphur Springs U/G
Payback in 2.1 Years
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Max Cash Out A$226M

Kangaroo Caves U/G

The LoM schedule is derived from a mining inventory of which 67% is Indicated Resources and 33% is Inferred Resources, the LoM mining inventory does not constitute an Ore Reserve. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the production target itself will be realised.

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Panorama Project ... now a compelling development

• Underground project is already shovel ready - approved Mining Leases, environmental approval and Native Title Agreements

• Optimisation Study has delivered a more robust and compelling Project

• Pre-production expenditure of $202M

• Payback in 2.1 years

• Simpler Project with much lower risk profile

• C1 Cu cost of A$0.84 per pound

• Mine life of 11 years

• Environmental approval needs to be renewed to reflect change to open pit

• Large tenure package covering 27 km of highly prospective stratigraphry along the Panorama Trend

...our focus is to get open pit to “Shovel Ready” status

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Exploration to Enhance Value

• Mine the databases

• Undertake low cost smart exploration to add value

• Build on good understanding of the fertile stratigraphy and deposit geology

• Use latest processing and visualisation tools to reprocess existing geophysical database Experienced team with proven exploration capability

Integrate geology and geophysics to generate targets

....our focus is to identify drill ready targets

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Panorama Project Exploration

Panorama Project Geology

Panorama Project includes :

• Sulphur Springs and Kangaroo Caves Deposits,

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Sulphur Springs
12.8Mt 1.5% Cu & 4.1% Zn
Kangaroo Caves
27 km Panorama Trend 3.5 Mt 0.7% Cu & 6.0 % Zn
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• Six advanced exploration targets with ore grade intersections

• 27 km of prospective stratigraphy along the Panorama trend

Program currently underway to use latest geophysical modelling technology to reprocess existing DHTEM data on both deposits to define plates outside current resource areas for drill testing.

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Whim Creek Project – our second advanced Development Project

Whim Creek Project includes:

• Whim Creek, Mons Cupri, Salt Creek and Evelyn Resources

• 18,100 ha Prospective Exploration Ground

Represents best opportunity for immediate exploration success

• Resource extension – existing resources open

• Resource discovery – multiple partially explored ore horizons

2010 Scoping Study completed by Snowden (Released on ASX 26/11/2010)

• Mining inventory sufficient to support a 9 year mine life at 600ktpa from a central plant located at Whim Creek

• Production 7,800t copper, 13,900t zinc and 4,200t lead per annum

• Infrastructure in place

• Exploration upside

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Mons Cupri - Largest Resource in Whim Creek Project

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Pilbara Copper Zinc Projects - Next Steps

Panorama Project

• Consultation with the DMP, EPA and other stakeholders on revised project scope

• Refinement of the project concept outlined in the optimisation study

• Referral to determine the level of assessment to be determined - early in 2016

• Development and submission of appropriate documentation for the level of assessment process determined

Whim Creek Project

• Develop conceptual targets

• extension to existing Resources

• additional data sets – grade control, VTEM

• • latest processing and visualisation tools

• Drill testing if funding permits

Blackrock Metals

• The wild card that could provide upside in immediate future

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Why Venturex….

• Provides rare copper and zinc exposure on the ASX

 Substantial resource portfolio provides excellent leverage to anticipated base metal price increases

• Well located near infrastructure in a great jurisdiction

• Panorama is a compelling project at consensus pricing and exchange rate

• Large and highly prospective landholding with exploration potential

• Undervalued relative to our peers

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Corporate Overview

Capital Structure

Capital Structure
ASX Code	VXR
Issued Shares	1,548m
Market Capitalisation	$9-10m
Cash and receivables	$0.5m

Share Price

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Experienced Board

Anthony Kiernan LLB - Non-Executive Chairman

Anthony Reilly BEc – Non- Executive Director John Nitschke BEng(Hons), MSc – Managing Director (1/12/15) Darren Stralow BEng, GAICD, GCAF - Non-Executive Director

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Key Shareholders
3.0%
32.5%
Regent Pacific
Northern Star
44.9% Henghou Industries
Others
Directors
12.5%
7.1%
As at 26 November 2015
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As at 5 November 2015

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John Nitschke

Managing Director

e: john.nitschke@venturexresources.com

Anthony Reilly Non Executive Director e: anthony.reilly@venturexresources.com

Trevor Hart Company Secretary/CFO e: trevor.hart@venturexresources.com

Registered Office Level 2 91 Havelock Street West Perth WA 6005 Australia

T: +61 8 6389 7400 F: +61 8 9463 7836

admin@venturexresources.com www.venturexresources.com

ASX Code: VXR

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Appendix - Mineral Resource Summary

	Mt	Cu%	Zn%	Pb%	Ag g/t	Au g/t
Combined Sulphur Springs Region
Indicated	10.6	1.7	5.5	0.3	20.5	0.2
Inferred	5.8	0.6	2.6	0.2	10.9	0.2
Total	16.4	1.3	4.5	0.2	17.1	0.2
Combined Whim Creek Region
Measured	1.3	1.5	1.7	0.8	41.1	0.28
Indicated	5.1	1.2	2.3	0.7	23.3	0.13
Inferred	0.2	2.6	0.3	0.1	4.1	0.03
Total	6.6	1.3	2.1	0.7	26.3	0.15
Liberty Indee Joint Venture (70%)
Indicated	0.45	2.2	4.5	0.4	42.0	0.9
Inferred	0.20	1.0	1.8	0.2	22.4	0.4
Total	0.7	1.8	3.7	0.3	35.9	0.8
TOTAL	23.6	1.3	3.8	0.3	20.1	0.1

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Defined Ore Reserves

Three other deposits yet to be upgraded to ore reserve status

ORE RESERVE	ORE RESERVE	ORE RESERVE	ORE RESERVE	ORE RESERVE	ORE RESERVE	ORE RESERVE	ORE RESERVE
	Classification	Tonnes ('000t)	Cu %	Zn %	Pb %	Ag g/t	Au g/t
Whim Creek	Probable	221	2.7	0.9	0.1	8.5	0.1
Mons Cupri	Probable	951	1.7	2.2	1.0	47.1	0.3
Sulphur Springs	Probable	7,200	1.8	4.3	0.1	18.5	0.0
Total		8,372	1.8	4.0	0.3	21.4	0.1

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