DEVELOP GLOBAL LIMITED — Capital/Financing Update 2007

Sep 2, 2007

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ABN 28 122 180 205 www.juttholdings.com

ASX ANNOUNCEMENT (ASX Code: JUT)

3 September 2007

Exploration update – Target Base Metal Resource Widened using VTEM Survey

Highlights

• Latest VTEM electromagnetic surveys flown over Liberty Indee Project

• Extension of target base metal resource

• Rock samples up to 5.8g/t Au, 46.5% Cu, 3.17% Pb and 11% Zn

• Evelyn drilling program approved

Liberty Indee Project VTEM

Jutt Holdings Limited is pleased to announce the completion of two airborne electromagnetic (VTEM[1] ) surveys on its Liberty Indee Project near Whim Creek in the Pilbara region of Western Australia. This electromagnetic survey over the historical Evelyn and Quarmby mines follows on from a 2006 airborne magnetic survey flown at 100 metre line spacing covering a larger area.

The results of a VTEM survey over Evelyn and Quarmby is highly encouraging, outlining distinct deep conductors unrealised from past exploration.

1 The VTEM or Versatile Time Domain Electro Magnetic system is the most innovative and successful airborne electromagnetic system to be introduced in more than 30 years. The proprietary receiver design using the advantages of modern digital electronics and signal processing delivers exceptionally low-noise levels. Coupled with a high dipole moment transmitter, the result is unparalleled resolution and depth of investigation in precision electromagnetic measurements.

Jutt Holdings Limited Tel. +61 3 9824 5254 Fax. +61 8 9463 7836 Suite 1, 1233 High Street, Armadale VIC 3143, AUSTRALIA Email: admin@juttholdings.com

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Quarmb
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Evelyn
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The VTEM survey has extended the target area from a localised to a six kilometre zone along a NNE corridor with six immediate VTEM targets and another separate EM target area to the east, in addition to targeted drill extensions of the Evelyn and Quarmby mines (refer to tables of results of rock samples selected from the Evelyn and Quarmby mines).

These rock sample results confirm the range of mineralisation relationship for the historical Evelyn and Quarmby mines, shown in the two tables.

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Table 1: Historical Evelyn Mine

Sample No	Au	Cu	Pb	Zn	Ag	Co
	ppm	%	%	%	ppm	Ppm
J201	0.12	33.10	0.48	0.30	176	295
J202	0.23	5 7.9	0 0.9	6 0.5	142	95
J203	0.70	2.28	3.17	0.87	26	215
J204	0.48	46.50	0.25	9.81	51	210
J205	0.15	23.50	1.07	0.52	288	100
J206	0.11	2.19	1.10	11.00	67	4720
J2110	0.22	3.04	0.88	1.62	64	405
J2118	0.03	5.36	0.01	1.94	2.5	210

Table 2: Historical Quarmby Mine

Sample No	Au	Cu	Pb	Zn	Co
	ppm	%	%	%	ppm
Q3001	0.49	0.56	<0.1	0.10	100
Q3002	1.90	3 2.3	1 <0.	6 0.4	305
Q4001	5.80	14.20	<0.1	0.24	220
Q4002	0.20	1.15	<0.1	0.15	245
Q4003	2.01	0.19	<0.1	0.05	25
Q4004	0.15	0.66	<0.1	0.44	95

Gold (up to 5.8g/t Au) and copper (up to 14.2% Cu) are indicative of the Quarmby mine whilst copper (up to 46.5% Cu), lead (up to 3.17% Pb) and zinc (up to 11.0% Zn) are indicative of the Evelyn mine. This indicates structural and distal mineralisation from a large granite intrusion to the south east which is believed to have contributed to the mineralisation and deformation along the main structural NNE corridor forming the outcropping Evelyn and Quarmby and now associated with other targeted interpreted conductors. These results are considered highly encouraging and confirm historical findings.

The VTEM survey comprises approximately 340 line kilometres flown at 200 metre line spacing by specialist geophysical contractor and owner of the VTEM process, Geotech Airborne Pty Ltd. The data is being analysed by geophysical specialists, Geoforce Pty Ltd (Geoforce).

Geoforce is currently conducting full analysis and modelling of the data, which shall provide definition of depth, shape and extent of each target providing a preliminary interpretation of the eastern survey flown covering the historical Evelyn and Quarmby mines. Refer to the attached figure, annotated with circles outlining seven likely bedrock conductors. Bedrock conductors are usually sulphides or graphitic bodies.

The company is focused on evaluating the seven targets as well as the Evelyn and Quarmby mine extensions, on completion of heritage surveys. A programme of works to drill Evelyn has been approved by the Department of Industry and Resources (DoIR).

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About Jutt Holdings

Jutt Holdings Limited (ASX:JUT) is an Australian listed resources exploration company, focused on several base and precious metals exploration projects in Western Australia.

Jutt Holdings has two projects in the Pilbara region of Western Australia, Onslow and Liberty-Indee Projects, both of which it has the rights to acquire major participating interests.

The Onslow Project consists of two granted Mining Leases over two prospects, being the Range lead-silver prospect and the Turtle copper-lead-silver prospect.

The Liberty-Indee Project consists of two granted exploration licences. A target generation study has identified four highly ranked targets and another four targets prospective for gold mineralisation, one of which has the potential for copper, lead, zinc and gold mineralisation.

The company is also to commence in September 2007, a 2050 line kilometre electromagnetic survey over its newly acquired interests in the Ravensthorpe region Tay-Munglinup tenements exploring for nickel. Jutt can earn an initial 60% interest in three granted exploration licences, covering 540 square kilometres.

Jutt Holdings also has plans to explore the Kooline Project for high grade lead silver ore, and the Tarrawarra Application for silver and base metals associated within a structural corridor.

Visit: www.juttholdings.com

The information in this announcement that relates to exploration results is based on information compiled by Jutt Holdings Limited and is based on information provided by Mr Cyril Leslie Geach BSc (Hons-Geology) who is a member of the Australian Institute of Geoscientists. Mr Geach has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a competent person as defined in the 2004 edition of the “Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Geach is an Executive Officer of Jutt Holdings Limited and consents to the inclusion in the announcement of the matters based on his information in the form and content in which it appears.