DEVELOP GLOBAL LIMITED — Capital/Financing Update 2012

Sep 20, 2012

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WHIM CREEK EXPLORATION UPDATE

ASX Announcement ASX Code: VXR Released: 21 September 2012

• 4,250 metre drilling program completed

• New sulphide mineralisation intersected at East Balla

• Diamond drilling at Evelyn deposit intersects narrow zones of Cu-Zn mineralisation

Venturex Resources Limited (Venturex) (ASX: VXR) holds a portfolio of copper-zinc deposits in the West Pilbara region of Western Australia. Venturex is pleased to provide an update on the Company’s ongoing exploration program at Whim Creek in the Pilbara region of Western Australia.

Venturex Managing Director Michael Mulroney said: “The East Balla drilling results are very encouraging, particularly given the presence of sulphide mineralisation within a large alteration zone. The system remains open in all directions and additional drilling will be planned for this area.”

Salt Creek Trend

A total of 3,285 metres of RC drilling has been completed on new target areas within the Salt Creek trend, located approximately 17 kilometres northwest of Whim Creek.

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For further details Michael Mulroney Managing Director T: +61 8 6389 7400 M: +61 412 443 806 michael.mulroney@venturexresources.com

Board

Tony Kiernan Chairman

Michael Mulroney Managing Director

Allan Trench Non-Executive Director

John Nitschke Non-Executive Director

Ray Parry Non-Executive Director

Liza Carpene Company Secretary

Contact Details

Registered Office Level 2 91 Havelock Street West Perth WA 6005

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

Figure 1- Whim Creek Region Exploration Targets

ABN: 28 122 180 205

1

East Balla

At East Balla, six RC drill holes (1,260 metres) tested several geochemical anomalies generated by previous RAB drilling. All drill holes intersected a broad zone of footwall-style alteration (chlorite, silica, sericite and locally fuchsite) with 1-4 metre zones of disseminated, and occasionally semi-massive[1] , sulphide mineralisation. Logging and preliminary Niton (XRF) readings of the mineralised intervals indicates that the sulphide mineralisation is predominately pyrite (iron sulphide) with traces of copper and zinc sulphide.

Dough Boy

The Dough Boy prospect is located at the southern end of the Salt Creek trend. An initial drilling program of seven RC drill holes (1,554 metres) was drilled on line spacing of 250 metres to test several co-incident airborne geophysical and geochemical anomalies in this area. Several holes (DBR001, DBR005, DBR006) intersected large (+20 metres) zones of strong footwall-style alteration (sericite-chlorite-quartz) but no significant sulphide mineralisation was intersected.

Salt Creek

Two RC drill holes (471 metres) were completed 200 - 400 metres along strike to the south west of the Salt Creek prospect targeting conceptual shallow extensions to the existing high grade Salt Creek resource. Both drill holes intersected only minor disseminated sulphide mineralisation in altered volcanoclastic sediments.

Liberty-Indee Joint Venture

Evelyn Deposit

A short diamond drilling program has been completed within the Liberty-Indee Joint Venture area targeting extensions to the Evelyn deposit. Two diamond drill holes (964.7m) were completed targeting a series of down-hole EM anomalies positioned down plunge from the existing Evelyn Cu-Zn resource.

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Figure 2 – Long Section Evelyn Deposit

1 “Semi-massive" refers to up to 40% pyrite.

2

The drilling revealed that the targeted Evelyn contact horizon has been extensively folded down plunge in a zone of increasing structural complexity. Both diamond drill holes intersected small (0.5m) zones of semi massive to massive sulphide mineralisation consisting of predominately pyrrhotite (iron sulphide) with minor zinc and copper sulphides. The mineralised intervals are currently being sampled prior to being dispatched for assay.

The drilling has not fully explained the down hole geophysical anomalies and further drilling in the Liberty-Indee Joint Venture area will be planned following a further structural analysis and modelling of the area.

General

Assay results are pending for all mineralised intersections and are expected to become progressively available over the next few weeks.

MICHAEL MULRONEY Managing Director

For further information, please contact:

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

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 a centralised processing hub at Sulphur Springs. Venturex is also exploring for gold in Brazil through its wholly owned subsidiary CMG Mineração Ltda.

Competency Statements

The information in this report that relates to Exploration Results, Mineral Resources and Ore Reserves is based on information compiled or reviewed by Mr Michael Mulroney BAppSc(Geol), MBA, and Mr Steven Wood who are Members of the Australasian Institute of Mining and Metallurgy. Mr Mulroney 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”. Mr Mulroney 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.

Drill Hole Details

Prospect	Hole ID	Easting	Northing	RL	Depth (m)	Dip	Azimuth
Balla Balla East	BBR001	581475	7706875	13	172	-600	1800
	BBR002	581075	7706850	13	76	-600	1800
	BBR003	580700	7706730	13	172	-600	1800
	BBR004	580710	7706780	13	262	-600	1800
	BBR005	580650	7706740	13	214	-600	1800
	BBR006	581075	7706855	13	172	-600	1800
	BBR007	580760	7706800	13	268	-600	1800
Dough Boy	DBR001	570130	7703890	11	186	-600	3600
	DBR002	570130	7703965	11	172	-600	3600
	DBR003	570120	7704250	11	226	-600	3600
	DBR004	570360	7703840	11	226	-600	3600
	DBR005	569880	7703860	11	226	-600	3600
	DBR006	571060	7704150	11	292	-600	3600
	DBR007	571060	7704450	11	226	-600	3600
Salt Creek	SCR014	573335	7704518	11	244	-600	3300
	SCR015	573190	7704485	11	227	-600	3300
**Evelyn **	JED009	587938	7667345	82	499	-600	1300
	JED010	587963	7667316	82	466	-600	1200

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