DEVELOP GLOBAL LIMITED — Capital/Financing Update 2010

Apr 20, 2010

ASX Announcement Code: VXR

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Drilling Update

21 April 2010 High Grade Zinc‐Lead Mineralisation Intersected at Salt Creek

For further details:

Dr Tim Sugden Managing Director T: +61 8 6389 7403 M: +61 407 085 032 E: tim.sugden@venturexresources.com

Venturex Resources Ltd (Venturex) has commenced an RC and diamond drilling program at the Whim Creek and Salt Creek Volcanogenic Massive Sulphide (VMS) Projects located in the Western Pilbara. The primary aim of the drilling program is to validate and expand the high grade parts of known Cu‐ Zn‐Pb‐Ag‐Au resources and initially test a number of new exploration targets. RC and Diamond Drilling At Salt Creek, April 2010

The first phase of diamond drilling is focused on the Salt Creek Project, located approximately 17kms northwest of Whim Creek.

Board

Allan Trench Non-Executive Chairman

Tim Sugden Managing Director Michael Mulroney Non-Executive Director

Anthony Reilly Executive Director

Liza Carpene Company Secretary

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

E: admin@venturexresources.com W: www.venturexresources.com

ABN: 28 122 180 205

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Location of Resources and Exploration Targets in the Whim Creek Region
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Drilling Update ‐

Released: 21 April 2010

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High Grade Zinc‐Lead Mineralisation Intersected at Salt Creek

Salt Creek East

Hole SCD005 intersected 3.5 metres of massive sulphide (predominantly sphalerite‐ galena) mineralisation. Preliminary grade estimates using a Niton® XL3t 700 X‐ray Fluorescence quantitative micro‐analyser range up to 55% Zn and 8.8% Pb. Both the intersected grade and thickness (estimated true width approximately 2.75 metres) exceed expectations and confirm the potential to delineate a discrete, high grade massive sulphide lens in this part of the Salt Creek VMS system.

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Photograph of Salt Creek East Drill Core (SCD005) with Niton® Zn‐Pb Grades

Salt Creek West

Hole SCD002 intersected several zones of massive and disseminated sulphide, including 4.4 metres of strong sulphide (121—133.8m) mineralisation from 127 metres with preliminary Niton® Zn grades of up to 42% Zn and 17% Pb. The Niton® analyser has also detected high silver values in the hundreds of parts per million range.

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Photograph of Salt Creek West Drill Core (SCD002) with Niton® Zn‐Pb Grades

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Drilling Update ‐

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High Grade Zinc‐Lead Mineralisation Intersected at Salt Creek Released: 21 April 2010

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Salt Creek Long Section. All intersections true width.

Future Work Program

The RC and diamond drilling program will continue targeting an extensive list of exploration opportunities within the broader Whim Creek and Liberty‐Indee VMS provinces including the following:

•  Depth extensions of high grade Zn‐Pb mineralisation located at Salt Creek

•  Testing for depth extensions of the known copper lenses at Salt Creek

•  Targeting the lateral and depth extensions of the Balla Balla VMS lens (Salt Creek trend)

•  Untested geochemical and geophysical anomalies in the broader Salt Creek VMS Belt

•  Definition and extension of the high grade components of the Mons Cupri VMS system

•  Depth extensions of the main Whim Creek VMS system

•  Depth extensions of the main Evelyn VMS lens at Liberty‐Indee

•  Untested gossans on the regional Liberty‐Indee VMS horizon

Full assay results for the reported intersections are pending. The results from the ongoing drilling program will be progressively reported over the coming weeks and will be incorporated into revised estimations of Project’s high grade mineral resources to JORC standard.

TIM SUGDEN Managing Director

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Drilling Update ‐ High Grade Zinc‐Lead Mineralisation Intersected at Salt Creek Released: 21 April 2010

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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.

Hole Details

Hole ID	Collar Coordinates GDA MGA Zone 50	Collar Coordinates GDA MGA Zone 50	Azimuth	End of Hole Depth (m)	Dip	Sulphide Intersection (m)	Sulphide Intersection (m)	Assays
	E	N				From	To
SCD002	573466	7704612	338.6	150.4	‐55.5	121.0	133.8	Pending
SCD005	573696	7704763	331.4	120.1	‐60.8	107.9	111.4	Pending

Notes

The metal contents in drill core referred to in this announcement were determined by a handheld Niton® XL3t 700 X‐ray Fluorescence quantitative micro‐analyser, operating in “mining mode”. Typical sample spacing was 250mm and analysis time was 30 seconds. The analysis window on the Niton® instrument has a diameter of 8mm; generally larger than the grain size of the ore minerals. Whilst Venturex believes that these readings are reliable indications of metal grade (and supported by semi‐quantitative visual estimates of ore minerals), they are not formal assays and will not be used in estimation of ore resources. For comparison purposes the Niton® XL3t700 returned the following values against standards at the Whim Creek Mine:

Standard	Mean	Std Dev	Niton (30 sec)	St Dev
Cu	0.88%	0.040%	1.04%	0.045%
Pb	9.47%	0.310%	8.73%	0.450%
Zn	23.63%	1.220%	22.74%	0.900%

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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