DEVELOP GLOBAL LIMITED — Capital/Financing Update 2013

Dec 29, 2013

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ASX Announcement
ASX Code: VXR
Released: 30 Dec 2013
For further details
Trevor Hart
Company Secretary
T: +61 8 6389 7400
trevor.hart@venturexresources.com
Board
Tony Kiernan
Chairman
Michael Mulroney
Managing Director
Ray Parry
Non-Executive Director
John Nitschke
Non-Executive Director
Trevor Hart
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
ABN: 28 122 180 205
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VENTUREX BOOSTS CASH POSITION WITH $1.7M WHIM CREEK HOTEL SALE

• Historic Whim Creek Hotel and adjacent Accommodation Village sold for $1.7 million cash

• Settlement expected in first quarter 2014

• Company cash and receivables on hand of $5.2 million post settlement

Venturex Resources Limited (“Venturex” or “the Company”) (ASX: VXR) is pleased to announce the Company has entered into a binding sale agreement for the sale of the Whim Creek Hotel and adjacent Accommodation Village complex in the Pilbara region of Western Australia.

The Whim Creek Hotel is located approximately 120 kilometres southwest of Port Hedland on the North West Coastal Highway.

The Whim Creek Hotel, the accommodation village, associated plant and equipment and underlying land title (Lot 58) have been sold to a private investment company, representing a consortium of local investors based in the Karratha region, for a total of $1.7 million cash.

The sale of the Whim Creek Hotel and adjacent Accommodation Village will boost Venturex’s cash and receivables position to $5.2 million, which ensures the Company is fully funded for its 2014 exploration program.

Venturex Managing Director Michael Mulroney said: “The sale of the Whim Creek Hotel and accommodation village to Pilbara based interests represents a great outcome for all parties. The sale to private operators provides a great opportunity for continued preservation and development of the historic hotel and its surrounds for the benefit of Pilbara residents and the local tourism industry.”

“The divestment of these non-core assets allows the Company to focus on exploring and developing our extensive copper-zinc assets in the Pilbara region while providing additional funding to drive these programs through 2014.”

Venturex is currently undertaking a 1,350 metre diamond drilling program at the Midway prospect, approximately 4 kilometres southeast of the Sulphur Springs copper-zinc deposit.

Future drilling programs planned for the first half of 2014 include diamond drilling in an area immediately west of the Sulphur Springs deposit and the recently announced 1,550 metre diamond drilling program targeting the Southern Hills area, located south of the Mons Cupri copper-lead-zinc sulphide deposit.

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MICHAEL MULRONEY Managing Director

For further information, please contact:

Michael Mulroney / Trevor Hart – 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 significant portfolio of VMS projects in the Western Pilbara. Venturex owns or controls significant resources of copper, zinc, lead, silver and ‐ gold at Sulphur Springs, Kangaroo Caves, Whim Creek, Mons Cupri, Salt Creek and Liberty Indee. 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.

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