DEVELOP GLOBAL LIMITED — Capital/Financing Update 2010

Aug 16, 2010

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Drilling Success Paves Way for Enhanced JORC Resource at Pilbara VMS Project

High-grade results extend sulphide zone of key Mons Cupri base metals deposit

Key Points:

• Fresh high-grade results highlight potential of Mons Cupri to underpin a substantial copper-zinc-silver-gold development:

ASX Announcement ASX Code: VXR Released: 17 August 2010

For further details Dr Tim Sugden Managing Director T: +61 8 6389 7400 M: +61 407 085 032 tim.sugden@venturexresources.com

• 13m @ 2.8% Cu and 2.6% Zn (MCR010)

• 43m @ 1.0% Cu, 3.0% Zn and 87g/t Ag, including:

  • 8m @ 4.2% Cu, 5.7% Zn, 256g/t Ag and 0.91g/t Au (MCR012)

• 30m @ 2.1% Cu and 1.0% Zn (MCR013)

• 27m @ 2.8% Cu, 1.2% Zn, 76.3g/t Ag and 0.4g/t Au (MCR014)

• Near surface high-grade massive sulphide zone extended to the north and remains open

• New results to be incorporated in a revised JORC resource for Mons Cupri due shortly

Board

Tony Kiernan Chairman

Tim Sugden Managing Director

Michael Mulroney Non-Executive Director

Allan Trench Non-Executive Director

Venturex Resources Limited (ASX: VXR ) is pleased to report that it is preparing a revised JORC compliant Mineral Resource for the key Mons Cupri deposit, part of its Pilbara Volcanogenic Massive Sulphide (VMS) Project, after receiving positive results from recent further drilling.

Anthony Reilly Executive Director

Liza Carpene Company Secretary

Substantial grades and widths of copper-gold mineralisation were returned from the drilling, which has extended the upper high-grade massive sulphide zone further to the north, potentially increasing the scale of an open pit cut-back.

Mons Cupri is one of two key VMS deposits within the central area of the Pilbara VMS Project which are expected to form the basis for the Company’s plans to develop the sulphide base metal resources in this region.

Revised JORC resource estimates are also currently being prepared for the nearby Whim Creek deposit as well as the Salt Creek deposit, which is located approximately 15km to the north-west.

Contact Details

Registered Office Suite 3, Level 1 127 Cambridge Street West Leederville WA 6007

T: +61 8 6389 7400 F: +61 8 9463 7836 admin@venturexresources.com www.venturexresources.com

ABN: 28 122 180 205

The new RC results for Mons Cupri are notable for the unusually high silver grades (MCR012: 8 metres @ 256.3g/t Ag with strong copper, zinc and lead mineralisation) in the upper massive sulphide zone.

This zone remains open to the north and may link with high grade sulphide mineralisation intersected in the Mons Cupri Northwest pit area, 300 metres to the north.

Further to the south, hole MCR015 intersected 30 metres @ 2.1% Cu , confirming the continuity of high grade copper mineralisation intersected by diamond hole MCD001 (39.4 metres @ 2.8% Cu). MCR015 also intersected a broad zone of low grade zinc mineralisation (42 metres @ 2.4% Zn, 0.4% Pb and 0.45g/t Au), which is likely to be contained within an optimised pit shell.

The new drilling results will be incorporated into the revised JORC Mineral Resource for Mons Cupri, which is expected to be finalised shortly. The preliminary wireframe model of the main ore domains at Mons Cupri is shown in the attached diagram.

This will form the cornerstone of a revised JORC Mineral Resource inventory for the Pilbara VMS Project that will underpin a Scoping Study due for completion in October 2010.

Further exploration work is underway on other VMS targets, including on the LibertyIndee area located approximately 35km to the south, which is believed to have the potential to emerge as a second VMS camp, raising the prospect of multiple additional VMS deposits in the district.

A full list of the new RC drilling results for Mons Cupri is provided in the attached table.

TIM SUGDEN Managing Director

For further information, please contact: Tim Sugden / Liza Carpene – Venturex Resources on (08) 6389 7400 Nicholas Read / Paul Armstrong – Read Corporate on (08) 9388 1474

About Venturex Resources Limited

Venturex Resources Limited (ASX: VXR) is a well funded Australian exploration and development company with a portfolio of VMS projects in the Western Pilbara. Venturex owns or controls the Whim Creek Copper Mine and all associated mining leases and exploration tenements including copper, zinc, lead, silver and gold resources at Whim Creek, Mons Cupri, Salt Creek and Liberty‐Indee. Other assets include the Whim Creek Hotel, an accommodation village, crushing circuit and various mining infrastructure. The Company is committed to a strategy of consolidating VMS projects in the Western Pilbara and developing Whim Creek as a centralised processing hub. Venturex is also exploring for gold in Brazil through its wholly owned subsidiary CMG Mineracao Ltda.

Competency Statement

The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Dr Tim Sugden BSc, PhD, who is a Member of the Australasian Institute of Mining and Metallurgy. Dr Sugden is a fulltime employee of Venturex Resources Limited and has sufficient experience relevant to the style of mineralisation, 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 “Australasian Code for Reporting of Mineral Resources and Ore Reserves”. Dr Sugden consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.

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Plan view of main sulphide zone at Mons Cupri, showing extension of upper high grade sulphide zone and location of section 7,690,900mN

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New RC drill results on section 7,690,900mN

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Wireframe models of main ore zones at Mons Cupri

HoleID	Easting	Northing	RL	Dip	Azimuth	Depth	From	To	Metres	Cu %	Zn %	Pb %	Ag g/t	Au g/t
MCR008	583916	7690780	83	-57	94	47	23	34	11	0.1%	2.0%	1.4%	58.2	0.61
MCR009	583908	7690800	85	-58	92	65	20	31	11	2.6%	0.5%	0.6%	41.4	0.77
MCR010	583900	7690820	88	-63	93	83	32	40	8	0.9%	6.6%	3.8%	94.4	0.36
							35	48	13	2.8%	2.6%	0.4%	43.8	0.29
MCR011	583891.5	7690860	91	-69	91	128	61	72	11	1.1%	0.1%	0.0%	10.0	0.06
MCR012	583876	7690900	93	-65	264	131	49	92	43	1.0%	3.0%	1.6%	87.0	0.24
							49	57	8	4.2%	5.7%	3.8%	256.3	0.91
MCR013	583890	7690825	88	-75	268	133	48	61	13	1.4%	3.9%	3.0%	70.0	0.08
							52	82	30	2.1%	1.0%	0.9%	38.3	0.22
							84	126	42	0.1%	2.4%	0.4%	18.2	0.45
MCR014	583875	7690906	93	-53	261	143	64	91	27	2.8%	1.2%	0.5%	76.3	0.40
MCR015	583874	7690905	93	-90	360	98	41	46	5	0.1%	2.3%	1.8%	85.0	0.11

New RC drill results

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