DEVELOP GLOBAL LIMITED — Capital/Financing Update 2011

Jul 13, 2011

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EXPLORATION DRILLING OF KEY Cu-Zn TARGETS COMMENCED

Highlights

ASX Announcement ASX Code: VXR Released: 14 July 2011

• Focused on large lenses within VMS clusters

• First hole intersects 2 metres visible Cu-Zn sulphides at 39 metres

• IP targets down dip of Mons Cupri

• Large copper target at Sulphur Springs

Following the completion of a comprehensive metallurgical sampling program for the Pilbara Volcanogenic Massive Sulphide (VMS) Bankable Feasibility Study, Venturex is pleased to advise that it has commenced a 6,500 metre programme of RC and diamond drilling on a number of key copper-zinc targets in the Pilbara Region. The primary aim of the drilling is to identify substantial additional copper-zinc resources close to the principal mining centres in the production plan.

With total JORC resources of 26.9 million tonnes @ 2.2% Cu EQ[1] and a pending reserve upgrade expected to support a mine life of up to 10 years, new discoveries have the potential to increase both the scale and longevity of the proposed operations.

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1 CuEQ: Cu% + Zn% x 0.255 + Pb% x 0.24 + Ag(ppm) x 0.008 + Au(ppm) x 0.5

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

Board

Anthony Kiernan Chairman Tim Sugden Managing Director

Michael Mulroney Non-Executive Director

Allan Trench 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 admin@venturexresources.com www.venturexresources.com

ABN: 28 122 180 205

MONS CUPRI SOUTH (WHIM CREEK SITE)

Mons Cupri has a sulphide resource of 4.94 million tonnes @ 1.6% Cu EQ. To the south, the Mons Cupri conglomerate host unit is associated with both an induced polarisation (IP) anomaly and superficial silver-lead workings. Seven planned RC and diamond holes will test the target to a depth of approximately 400 metres. The first hole in the program, VWD001, intersected a two metre interval of visible chalcopyrite and sphalerite from 39 metres. This may be a peripheral indicator of a larger system hosted by the Rushall Slate or a deeper VMS lens hosted by the Mons Cupri unit.

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Coincidental Host Unit and IP Anomalies in the Mons Cupri Area

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“Target 1” South of Mons Cupri

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SULPHUR SPRINGS

At Sulphur Springs, the primary target area is the Bledisloe anomaly, located approximately 500 metres to the west of the main deposit (19.3 million tonnes @ 2.2 Cu EQ). Previous drilling intersected stringer style copper (SSD050: 16.9 metres @ 0.47% Cu) which is often peripheral to massive sulphide systems. The access road to site has been refurbished allowing access for a diamond drilling rig and all drill sites are prepared. Drilling at Sulphur Springs will commence after the Mons Cupri program.

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Long Section of the Sulphur Springs VMS Horizon showing the large Bledisloe target area

Results from the drilling campaigns will be reported during the September Quarter.

TIM SUGDEN Managing Director

For further information, please contact:

Tim Sugden / Liza Carpene – Venturex Resources Limited on (08) 6389 7400 Tony Dawe – Professional Public Relations on 0405 989 743 / (08) 9388 0944

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RESOURCES STATEMENT

Location JORC Classification Tonnes Cu % Zn % Pb % Ag g/t Au g/t	Location JORC Classification Tonnes Cu % Zn % Pb % Ag g/t Au g/t	CuEq %
Measured 1,274,000 1.5 1.7 0.8 41.0 0.30 2.6 Indicated 5,989,000 1.1 2.4 0.7 23.6 0.20 2.2 Inferred 367,000 1.7 1.1 0.2 14.3 0.30 2.3 All Whim Creek/Salt Creek
Total 7,630,000 1.2 2.2 0.7 26.1 0.20 2.2
Panorama Measured 4,500,000 1.6 3.2 0.2 17.0 2.6 Indicated 10,500,000 1.2 3.5 0.2 17.0 2.3 Inferred 4,300,000 0.6 2.2 0.2 13.0 1.3
Total 19,300,000 1.2 3.1 0.2 16.1 2.2
PROJECT Measured 5,774,000 1.6 2.9 0.3 22.3 0.1 2.6 TOTAL Indicated 16,489,000 1.2 3.1 0.4 19.4 0.1 2.3 Inferred 4,667,000 0.7 2.1 0.2 13.1 0.0 1.4
Total 26,930,000 1.2 2.9 0.3 18.9 0.1 2.2
	Copper Zinc Lead Silver Gold Cu EQ t
Total Contained Metals(tonnes/oz) 315,360 773,960 92,010 16,398,198 15,260 587,105

CuEQ: Cu% + Zn% x 0.255 + Pb% x 0.24 + Ag(ppm) x 0.008 + Au(ppm) x 0.5

About Venturex Resources Limited

Venturex Resources Limited (ASX: VXR) is an 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, ‐ Liberty Indee and Sulphur Springs. 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 Mineração Ltda.

Competency Statement

The information in this report that relates to Exploration Results, Mineral Resources and Ore Reserves is based on information compiled or reviewed by Dr Tim Sugden BSc, PhD, and Mr Steven Wood who are Members of the Australasian Institute of Mining and Metallurgy. Dr Sugden and Mr Wood are full time employees of Venturex Resources Limited and have sufficient experience relevant to the style of mineralisation, type of deposit under consideration and to the activity being undertaking to qualify as Competent Persons as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Dr Sugden and Mr Wood consent 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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