DEVELOP GLOBAL LIMITED — Investor Presentation 2011

Oct 16, 2011

VENTUREX RESOURCES LIMITED: THE NEW AUSTRALIAN COPPER-ZINC DEVELOPER

Tim Sugden, Managing Director Symposium Resources Roadshow Melbourne and Sydney, 17-18 October 2011

ASX Code: VXR

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Disclaimer

This presentation is not a prospectus nor an offer of securities for subscription or sale in any jurisdiction nor a securities recommendation. The information in this presentation is an overview and does not contain all information necessary for investment decisions. In making investment decisions, investors should rely on their own examination of Venturex Resources Limited and consult with their own legal, tax, business and/or financial advisers in connection with any acquisition of securities. The information contained in this presentation has been prepared in good faith by Venturex Resources Limited. However, no representation or warranty, express or implied, is made as to the accuracy, correctness, completeness or adequacy of any statements, estimates, opinions or other information contained in this presentation. To the maximum extent permitted by law, Venturex Resources Limited, its directors, officers, employees and agents disclaim liability for any loss or damage which may be suffered by any person through the use of, or reliance on, anything contained in or omitted from this presentation. Certain information in this presentation refers to the intentions of Venturex Resources Limited, but these are not intended to be forecasts, forward looking statements, or statements about future matters for the purposes of the Corporations Act or any other applicable law. The occurrence of events in the future are subject to risks, uncertainties and other factors that may cause Venturex Resources Limited’s actual results, performance or achievements to differ from those referred to in this presentation will actually occur as contemplated. The presentation contains only a synopsis of more detailed information published in relation to the matters described in this document and accordingly no reliance may be placed for any purpose whatsoever on the sufficiency or completeness of such information and to do so could potentially expose you to a significant risk of losing all of the property invested by you or incurring by you of additional liability. Recipients of this presentation should conduct their own investigation, evaluation and analysis of the business, data and property described in this document. In particular any estimates or projections or opinions contained herein necessarily involve significant elements of subjective judgment, analysis and assumptions and you should satisfy yourself in relation to such matters.

Competency Statement

The information in this report that relates to Exploration Results, Mineral Resources and Ore Reserves (excepting Sulphur Springs) in the Pilbara VMS Cu-Zn Project 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.

The information in this report that relates to Ore Reserves at Sulphur Springs is based on information compiled or reviewed by Mr David Clark who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Clark is a full time employee of RMDSTEM Limited and has sufficient experience relevant to the style of mineralisation, type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Clark consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information in this report that relates to Brazil Exploration Results is based on information compiled by Mr Karl Weber who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Weber is a fulltime employee of CMG Mineração Ltda, a wholly owned subsidiary 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 Exploration Results, Mineral Resources and Ore Reserves”. Mr Weber 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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Key Project Areas

 Developing Cu-Zn (VMS[1] ) deposits in the Pilbara

 Exploring for large gold deposits in Brazil

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1 Volcanogenic Massive Sulphide

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Why Venturex?

• Exposure to Copper, Zinc & Gold

• Low Risk Jurisdiction

• Substantial Resources

• Grade

• Regional Control

• Access to Regional & Local Infrastructure

 Near Term Production – Bankable Feasibility Study Underway

 Experienced Management

• Low-Risk Mining & Treatment Technology

 Production Upsides Above Base Case

• Exploration Potential

• Hidden Value in Brazilian Gold

• Where are the New Copper-Zinc Miners?

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World Production Outlook

• Robust demand/supply & price outlook for:

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Copper

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and Zinc

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 Plus positive views on Gold, Silver and Lead…

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Source: CRU International; Brook Hunt; GS&PA Research estimates

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Low Risk Jurisdiction Australia – still one of the safest places to invest in resources

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Source: S.A.C.E. Country Risk Map 2010

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Pilbara Cu-Zn VMS Project Substantial Resources with Further Growth Potential

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Copper (EQ) Metal Tonnes
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900,000
CURRENT
800,000
RESOURCE
700,000 ~550,000t 26.2
600,000 CuEQ million
500,000 Tonnes @
2.2% Cu
400,000
EQ
300,000
200,000
100,000
-
2008 2009 2010 2011+
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A High Grade Project by World Standards

2.7%

1.5%

Average grade of world copper mines

Pilbara VMS Cu-Zn Project

3 times World Average Grade (CuEQ)

0.9%

1979

2011

2023

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Source: Wood Mackenzie, Citi Investment Research and Analysis

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Near Surface High Grade Ore (Mons Cupri)

		Mons Cupri Mineral Resources Statement
		Tonnes x 1000	Cu %	Zn %	Pb %	Ag g/t	Au g/t	CuEQ %
	Measured	1,273	1.5	1.7	0.8	41.1	0.3	2.4
	Indicated	3,286	0.7	1.1	0.4	17.7	0.1	1.2
	Inferred	48	0.7	0.6	0.1	9.0	0.0	0.9
	Total	4,607	0.9	1.3	0.5	24.1	0.1	1.5

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Cu-Zn Deposit

~~Sulphur Springs~~	~~Sulphur Springs~~	~~Sulphur Springs~~	~~Sulphur Springs~~	~~Sulphur Springs~~	~~Sulphur Springs~~	~~Sulphur Springs~~	~~Sulphur Springs~~
Sulphur Springs Mineral Resources Statement
	~~L~~ Tonnes x 1000	~~on~~ Cu %	~~g S~~ Zn %	~~ecti~~ Pb %	~~on~~ Ag g/t	Au g/t	CuEQ %
Measured	4,260	1.7	3.4	0.2	18.2	0.0	2.5
Indicated	9,621	1.3	3.8	0.2	18.2	0.0	2.2
Inferred	5,154	0.7	2.0	0.2	13.9	0.0	1.3
Total	19,035	1.2	3.2	0.2	17.0	0.0	2.0

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Control of 4 VMS Belts and all Major VMS Discoveries in the Pilbara xx Reason to Own VXR Shares

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Pie size represents contained metal in Mineral Resources expressed as CuEQ
Salt Creek
1.0Mt @ 4.9% CuEQ
Whim Creek
1.03mt @ 1.9% CuEQ
Sulphur Springs
Au 19.3mt @ 2.2% CuEQ
Ag
Pb
Cu
Zn
Mons Cupri
4.94mt @ 1.6% CuEQ
Liberty-Indee
0.66Mt @ 3.5% CuEQ
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Liberty-Indee
0.66Mt @ 3.5% CuEQ
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Source: Wood Mackenzie, Citi Investment Research and Analysis

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Developing in an Infrastructure-Rich Region

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Concentrate
Export
Centralised Processing
Facility
Open Pit Mining
Mons Cupri
Whim Creek
Underground
Mining Operation
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Established Minesite Infrastructure

• Significant infrastructure in place

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• Crusher

• Power

• Water

• Roads

• Accommodation village

• Hotel

• Path to fast track development

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Near Term Production

Mining

Plant & Infrastructure Tailings Dam Board Approval Permitting

Financing

Project Execution

Construction

Production

October 2011

approximately 24 months

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Indicative timetable. Development subject to permitting and finance .

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Directors & Senior Management

Mr Tony Kiernan, LLB - Non-Executive Chairman

Mr Kiernan is a solicitor with 35 years experience in management and operation of listed public companies. He is also Chairman of BC Iron and Uranium Equities, and a Director of Liontown Resources and Chalice Gold Mines.

Dr Allan Trench, BSc, PhD, MSc, MBA - Non-Executive Director

Dr Trench is a geologist/geophysicist with 20 years experience in the resources sector, and has extensive business consulting experience. He is Chairman of Navigator Resources and Acadian Mining, and Director of Pioneer Resources and Hot Chili.

Mr John Nitschke, BE(Min), MSc - Non-Executive Director

Mr Nitschke is a mining engineer with over 35 years experience in the mining industry with substantial experience in large resource companies. He is Chairman of TSX-V listed Continental Nickel and a Director of IMX Resources and Toro Energy.

Dr Tim Sugden, BSc, PhD - Managing Director

Dr Sugden has 24 years experience in resources industry including operations General Manager for Normandy and Newmont. He was co-founder and Director of Agincourt Resources and Nova Energy, and is Chairman of Newland Resources.

Mr Anthony Reilly, BEc - Executive Director

Mr Reilly has extensive international experience in financial markets, risk management and corporate finance. He was a senior Manager for Westpac in UK and was a founding Director of CMG Mineração.

Mr Ian Suckling, B.APP.Sc (Mining Eng) – Chief Operating Officer

Mr Suckling has over 35 years experience as a Mining Engineer, including General Manager of Yandal Operations, General Manager Operations with Sino Mining International and most recently was Senior Director – Underground Mine Engineering for Newmont Mining Corporation.

Ms Liza Carpene, MBA, ACIS - Company Secretary

Ms Carpene has over 15 years experience in corporate administration, HR, IT and community relations with Normandy, Newmont, Agincourt and Oxiana. She has held extensive operational management roles in Australia and Indonesia.

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Feasibility Study Management

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IAN SUCKLING
Chief Operating
Officer
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GR Engineering
Metallurgy,
Engineering &
Infrastructure
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Steven Wood
Resources
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John Cooper
Sustainability Manager
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RMD-STEM
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Doug Cooper
Tailings Design
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Dave Clark
Mining
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Andrew Robertson
Permitting
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Aquaterra
Hydrology /
Groundwater
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Gijima AST
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Mining One
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Simple Open Pit Mining Plan

Existing Mons Cupri oxide pit  Massive sulphide ore present just below base of existing oxide pit  Simple cut back, conventional open pit Mons Cupri operation Northwest

 Massive sulphide ore present just below base of existing oxide pit

 Low strip ratio  Extensions at Mons Cupri North West

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Sulphur Springs: a Textbook Underground Mine

SULPHUR SPRINGS PROBABLE RESERVE	SULPHUR SPRINGS PROBABLE RESERVE	SULPHUR SPRINGS PROBABLE RESERVE	SULPHUR SPRINGS PROBABLE RESERVE	SULPHUR SPRINGS PROBABLE RESERVE	SULPHUR SPRINGS PROBABLE RESERVE	SULPHUR SPRINGS PROBABLE RESERVE
Domain	Tonnes	Cu %	Zn %	Pb %	Ag g/t	Cu EQ %
Copper	4,255,000	2.1	3.7	0.2	17	3.1
Zinc	1,408,000	1.1	6.0	0.3	23	2.6
Total	5,663,000	1.9	4.3	0.2	18	3.0

Note: only 30% of total resource in reserve category

Operating costs are expected to be within the lower quartile given the following:

• high reserve ore tonnes per vertical metre (average 27,000 and up to 35,000 TVM),

• highly productive transverse mining method,

• competent ground conditions as a result of both the localised geology as well as the relatively low depth of mining,

• low haulage costs given the midpoint underground access design as well as the relatively shallow mining depth, and

• use of backfill material from both underground development as well as existing material on Venturex leases.

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Sulphur Springs Mine Development Infrastructure

• Mining & miscellaneous leases granted

• Small footprint

• Layout of access roads completed

• Portal and ventilation rise positions finalised

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Metallurgy

 Sulphur Springs Test Work Completed  Final Mons Cupri locked cycle test work underway  Evelyn deposit - sighter tests indicate effective separation of copper and zinc

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Metallurgy

Metallurgy	Metallurgy	Metallurgy	Metallurgy	Metallurgy	Metallurgy	Metallurgy	Metallurgy	Metallurgy	Metallurgy
SULPHUR SPRINGS LOCKED CYCLE FLOTATION RESULTS
	MASS	COPPER		ZINC		SILVER		LEAD
PRODUCTS RECOVERED	%	Grade %	% dist	Grade %	% dist	Grade ppm	% dist	Grade %	% dist
Copper ReCl Concentrate 1-3	6.3	26.4	95.1	1.3	2.0	74	25.3	1.09	39.2
Zinc ReCl Concentrate 1-3	6.3	0.5	1.9	58.9	90.3	56	19.1	0.22	7.7
Zinc Rougher Tails	87.4	0.06	3.0	0.36	7.7	12	55.6	0.11	53.1
Calculated Head	100.0	1.75	100.0	4.11	100.0	18	100.0	0.18	100.0
Assay Head		1.82		4.00		18		0.17

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Planned Mill Throughput

Mons Cupri/Whim Creek Open Pits ~600,000 – 700,000tpa @ 2.1% CuEQ

Sulphur Springs Underground ~700,000 – 800,000tpa @ 3.0% CuEQ

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Mill Throughput
~1,350,000 tpa
@ 2.7% CuEQ
Target Annual Average
~ 18-20,000t ~38-40,000t ~3,600t 700,000oz 1,500oz Production Rates
Cu Zn Pb Ag Au
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~ 18-20,000t
Cu
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Pilbara VMS Project: Upside Options

 Expansion of underground reserves

• Sulphur Springs very sensitive to cut-off grade (conservative 1.85% CuEQ cut)

• Significant potential at Salt Creek

• Addition of Liberty-Indee

• Addition of lead recovery circuit

• Economics of additional capital, awaiting final lead and silver recoveries analysis  Preliminary lead concentrate grades 30% Pb, 801g/t Ag and 15g/t Au

• Lead concentrate export protocols, containerised transport

• Addition of pyrite recovery circuit

• Circa $50m additional CAPEX

• Target 700,000 tpa pyrite concentrate

 Shared Infrastructure

• Use of third party haul road to reduce distance

• Shared camps and facilities at Sulphur Springs

• Local access to waste material for backfill

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Salt Creek – A High Grade VMS System Additional High Grade Zinc/Copper Production Opportunity

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3.3m @
11.1% Cu
7.3m @
2.8% Cu 6.0m @
5.6% Cu
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Salt Creek – Preliminary Mine Design

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High Grade
Zn-Pb-Ag
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	Salt Creek Mineral Resources Statement	Salt Creek Mineral Resources Statement	Salt Creek Mineral Resources Statement	Salt Creek Mineral Resources Statement	Salt Creek Mineral Resources Statement	Salt Creek Mineral Resources Statement	Salt Creek Mineral Resources Statement
	Tonnes x 1000	Cu %	Zn %	Pb %	Ag g/t	Au g/t	CuEQ %
Indicated	898	1.8	7.9	2.4	58.0	0.3	5.3
Inferred	105	3.5	0.1	0.0	1.5	0.0	3.6
Total	1,003	2.0	7.0	2.1	52.0	0.3	5.1

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Salt Creek – Direct Shipping Ore Potential

	Metal	Assay	Value/t
	Zinc	49.2 %	$1,035
	Lead	7.1 %	$170
	Silver	327 g/t	$423
	Gold	4.1 g/t	$238
	Indium	223 g/t	$169
	Total		$2,035
	Based on metal prices on 12/9/11; $A/$US = 1.03

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VMS Exploration Targeting Continued Resources Growth

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TARGET
900,000
~800,000t
CuEQ
800,000
CURRENT
700,000 RESOURCE
~550,000t
600,000 CuEQ
500,000
400,000
300,000
200,000
100,000
-
2008 2009 2010 2011+
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1 The exploration target is conceptual in nature and there has been insufficient exploration to define a Mineral Resource, and it is uncertain if further exploration will result in the determination of a mineral resource under the JORC Code.

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VMS Exploration Where there’s one there’s more….

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Flin Flon
Noranda
~ 8 deposits
~ 19 deposits
~ 80mt
~ 100mt
Snow Lake
~ 11 deposits Matagami
~ 40mt ~ 10 deposits
~ 34mt
Hokuroku
~ 12 deposits
~ 90mt
5 km
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Based on: Galley, A.G., Hannington, M.D., and Jonasson, I.R., 2007, Volcanogenic massive sulphide deposits, in Goodfellow, W.D., ed., Mineral Deposits of Canada: A Synthesis of Major Deposit-Types, District Metallogeny, the Evolution of Geological Provinces, and Exploration Methods: Geological Association of Canada, Mineral Deposits Division, Special Publication No. 5, p. 141-161.

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Mons Cupri South West – First Results

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Mons Cupri South West – First Results

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Footprint of
~ 5 million tonne VMS
target
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Chalcopyrite in Hole VWD10

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Salt Creek Exploration Targets

1 M tonnes @ 4.9% CuEQ

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Liberty-Indee Evelyn Discovery

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Liberty-Indee

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Gossan @
40% copper
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 Whim Creek equivalent  12kms of prospective horizon  Numerous VTEM targets

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Sulphur Springs Exploration Targets

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Gold Exploration in Brazil A Developing Story…

• CMG Mineração Ltda is an incorporated and registered Brazilian exploration company 100% owned by Venturex

• Focused on discovery of large gold deposits

• Established exploration team in Cuiabá

• Projects in Mato Grosso and Tapajós gold district, Pará

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Large Land Holding in the Tapajós Largest alluvial gold province in Brazil, estimated production of 20-30 Moz 1978-1995

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Serra Verde Gold Project

Fofoca Velha, brecciated altered granite

High Grade Fofoca Velha Vein +100g/t

Spider veined granite

Doca Vein - Shaft Intensely sericitised, silicified Granite and vein material Doca Prospect Shaft

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Grande Canaã Gold Project

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 4 Exploration Licences
 Local mining activities have exposed
stockwork veined, sulphidised
granite.
10m @
1.27g/t Au
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Where are the New Copper-Zinc Producers?

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= $100m
OZL
PNA
JML
KZL
TGS
PEM
ABY
SRQ TZN
HGO BSM
SFR
IBG
CDU
DML VXR MII
RXM
FND
A RARE
MGO BTR
AOH TRO
SPECIES
ENR
SAVI
SWN TOVR
SMD PDZ
COPPER COPPER-ZINC ZINC
Producer
RE-
RATING
Developer
Explorer
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VXR: The New Australian Copper-Zinc Developer

[An emerging copper-zinc producer with multiple upsides ] including:

• Increased production above BFS base case

• VMS exploration success

• Gold discoveries in Brazil

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THANK YOU ANY QUESTIONS?

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Pilbara Resources & Reserves as at 1 Se tember 2011 p

MINERAL RESOURCES

ORE RESERVES

Indicated 967 1.4 1.2 0.2 8.8 0.1 1.8 Probable 687 1.7 1.1 0.2 8.9 0.1 2.1 Inferred 4 0.5 2.3 0.6 13.9 0.1 1.1 Sub-total 972 1.4 1.2 0.2 8.8 0.1 1.8 Sub-total 687 1.7 1.1 0.2 8.9 0.1 2.1 Measured 1,273 1.5 1.7 0.8 41.1 0.3 2.4 Indicated 3,286 0.7 1.1 0.4 17.7 0.1 1.2 Probable 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Inferred 48 0.7 0.6 0.1 9.0 0.0 0.9 Sub-total 4,607 0.9 1.3 0.5 24.1 0.1 1.5 Sub-total 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Zn Indicated 475 0.2 14.1 4.4 107.1 0.5 6.4 Probable 361 0.2 12.8 4.2 109.2 0.5 6.0 Indicated 423 3.7 0.9 0.1 2.7 0.1 4.0 Probable 236 4.1 1.3 0.2 3.2 0.1 4.6 Inferred 105 3.5 0.1 0.0 1.5 0.0 3.6 Zn/Cu Sub-total 1,003 2.0 7.0 2.1 52.0 0.3 5.1 Sub-total 597 1.8 6.6 2.1 53.1 0.3 4.8 Indicated 453 2.2 4.5 0.4 42.0 0.9 4.0 Probable 361 2.2 4.5 0.4 40.7 0.9 4.0 Inferred 204 1.0 1.8 0.2 22.4 0.4 1.8 Sub-total 657 1.8 3.7 0.3 35.9 0.8 3.3 Sub-total 361 2.2 4.5 0.4 40.7 0.9 4.0 Measured 4,260 1.7 3.4 0.2 18.2 0.0 2.5 Indicated 9,621 1.3 3.8 0.2 18.2 0.0 2.2 Probable 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Inferred 5,154 0.7 2.0 0.2 13.9 0.0 1.3 Sub-total 19,035 1.2 3.2 0.2 17.0 0.0 2.0 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Measured 5,533 1.6 3.0 0.3 23.4 0.1 2.5 Indicated 15,226 1.2 3.3 0.4 20.6 0.1 2.2 Probable 10,123 1.7 3.6 0.4 25.0 0.1 2.8 Inferred 5,515 0.8 1.9 0.2 13.9 0.0 1.3 Total Sulphide Resources 26,274 1.2 3.0 0.3 19.8 0.1 2.1 Total Sulphide Reserves 10,123 1.7 3.6 0.4 25.0 0.1 2.8 MINERAL RESOURCES ORE RESERVES Location Tonnes x 1,000 Cu wt% Zn wt% Pb wt% Ag g/t Au g/t CuEQ wt % Salt Creek Cu Liberty- Indee CuEQ wt % Whim Creek Mons Cupri Tonnes x 1,000 Cu wt% Zn wt% Pb wt% All Locations JORC Classification JORC Classification Sulphur Springs Ag g/t Au g/t	Indicated 967 1.4 1.2 0.2 8.8 0.1 1.8 Probable 687 1.7 1.1 0.2 8.9 0.1 2.1 Inferred 4 0.5 2.3 0.6 13.9 0.1 1.1 Sub-total 972 1.4 1.2 0.2 8.8 0.1 1.8 Sub-total 687 1.7 1.1 0.2 8.9 0.1 2.1 Measured 1,273 1.5 1.7 0.8 41.1 0.3 2.4 Indicated 3,286 0.7 1.1 0.4 17.7 0.1 1.2 Probable 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Inferred 48 0.7 0.6 0.1 9.0 0.0 0.9 Sub-total 4,607 0.9 1.3 0.5 24.1 0.1 1.5 Sub-total 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Zn Indicated 475 0.2 14.1 4.4 107.1 0.5 6.4 Probable 361 0.2 12.8 4.2 109.2 0.5 6.0 Indicated 423 3.7 0.9 0.1 2.7 0.1 4.0 Probable 236 4.1 1.3 0.2 3.2 0.1 4.6 Inferred 105 3.5 0.1 0.0 1.5 0.0 3.6 Zn/Cu Sub-total 1,003 2.0 7.0 2.1 52.0 0.3 5.1 Sub-total 597 1.8 6.6 2.1 53.1 0.3 4.8 Indicated 453 2.2 4.5 0.4 42.0 0.9 4.0 Probable 361 2.2 4.5 0.4 40.7 0.9 4.0 Inferred 204 1.0 1.8 0.2 22.4 0.4 1.8 Sub-total 657 1.8 3.7 0.3 35.9 0.8 3.3 Sub-total 361 2.2 4.5 0.4 40.7 0.9 4.0 Measured 4,260 1.7 3.4 0.2 18.2 0.0 2.5 Indicated 9,621 1.3 3.8 0.2 18.2 0.0 2.2 Probable 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Inferred 5,154 0.7 2.0 0.2 13.9 0.0 1.3 Sub-total 19,035 1.2 3.2 0.2 17.0 0.0 2.0 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Measured 5,533 1.6 3.0 0.3 23.4 0.1 2.5 Indicated 15,226 1.2 3.3 0.4 20.6 0.1 2.2 Probable 10,123 1.7 3.6 0.4 25.0 0.1 2.8 Inferred 5,515 0.8 1.9 0.2 13.9 0.0 1.3 Total Sulphide Resources 26,274 1.2 3.0 0.3 19.8 0.1 2.1 Total Sulphide Reserves 10,123 1.7 3.6 0.4 25.0 0.1 2.8 MINERAL RESOURCES ORE RESERVES Location Tonnes x 1,000 Cu wt% Zn wt% Pb wt% Ag g/t Au g/t CuEQ wt % Salt Creek Cu Liberty- Indee CuEQ wt % Whim Creek Mons Cupri Tonnes x 1,000 Cu wt% Zn wt% Pb wt% All Locations JORC Classification JORC Classification Sulphur Springs Ag g/t Au g/t	Indicated 967 1.4 1.2 0.2 8.8 0.1 1.8 Probable 687 1.7 1.1 0.2 8.9 0.1 2.1 Inferred 4 0.5 2.3 0.6 13.9 0.1 1.1 Sub-total 972 1.4 1.2 0.2 8.8 0.1 1.8 Sub-total 687 1.7 1.1 0.2 8.9 0.1 2.1 Measured 1,273 1.5 1.7 0.8 41.1 0.3 2.4 Indicated 3,286 0.7 1.1 0.4 17.7 0.1 1.2 Probable 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Inferred 48 0.7 0.6 0.1 9.0 0.0 0.9 Sub-total 4,607 0.9 1.3 0.5 24.1 0.1 1.5 Sub-total 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Zn Indicated 475 0.2 14.1 4.4 107.1 0.5 6.4 Probable 361 0.2 12.8 4.2 109.2 0.5 6.0 Indicated 423 3.7 0.9 0.1 2.7 0.1 4.0 Probable 236 4.1 1.3 0.2 3.2 0.1 4.6 Inferred 105 3.5 0.1 0.0 1.5 0.0 3.6 Zn/Cu Sub-total 1,003 2.0 7.0 2.1 52.0 0.3 5.1 Sub-total 597 1.8 6.6 2.1 53.1 0.3 4.8 Indicated 453 2.2 4.5 0.4 42.0 0.9 4.0 Probable 361 2.2 4.5 0.4 40.7 0.9 4.0 Inferred 204 1.0 1.8 0.2 22.4 0.4 1.8 Sub-total 657 1.8 3.7 0.3 35.9 0.8 3.3 Sub-total 361 2.2 4.5 0.4 40.7 0.9 4.0 Measured 4,260 1.7 3.4 0.2 18.2 0.0 2.5 Indicated 9,621 1.3 3.8 0.2 18.2 0.0 2.2 Probable 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Inferred 5,154 0.7 2.0 0.2 13.9 0.0 1.3 Sub-total 19,035 1.2 3.2 0.2 17.0 0.0 2.0 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Measured 5,533 1.6 3.0 0.3 23.4 0.1 2.5 Indicated 15,226 1.2 3.3 0.4 20.6 0.1 2.2 Probable 10,123 1.7 3.6 0.4 25.0 0.1 2.8 Inferred 5,515 0.8 1.9 0.2 13.9 0.0 1.3 Total Sulphide Resources 26,274 1.2 3.0 0.3 19.8 0.1 2.1 Total Sulphide Reserves 10,123 1.7 3.6 0.4 25.0 0.1 2.8 MINERAL RESOURCES ORE RESERVES Location Tonnes x 1,000 Cu wt% Zn wt% Pb wt% Ag g/t Au g/t CuEQ wt % Salt Creek Cu Liberty- Indee CuEQ wt % Whim Creek Mons Cupri Tonnes x 1,000 Cu wt% Zn wt% Pb wt% All Locations JORC Classification JORC Classification Sulphur Springs Ag g/t Au g/t	Indicated 967 1.4 1.2 0.2 8.8 0.1 1.8 Probable 687 1.7 1.1 0.2 8.9 0.1 2.1 Inferred 4 0.5 2.3 0.6 13.9 0.1 1.1 Sub-total 972 1.4 1.2 0.2 8.8 0.1 1.8 Sub-total 687 1.7 1.1 0.2 8.9 0.1 2.1 Measured 1,273 1.5 1.7 0.8 41.1 0.3 2.4 Indicated 3,286 0.7 1.1 0.4 17.7 0.1 1.2 Probable 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Inferred 48 0.7 0.6 0.1 9.0 0.0 0.9 Sub-total 4,607 0.9 1.3 0.5 24.1 0.1 1.5 Sub-total 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Zn Indicated 475 0.2 14.1 4.4 107.1 0.5 6.4 Probable 361 0.2 12.8 4.2 109.2 0.5 6.0 Indicated 423 3.7 0.9 0.1 2.7 0.1 4.0 Probable 236 4.1 1.3 0.2 3.2 0.1 4.6 Inferred 105 3.5 0.1 0.0 1.5 0.0 3.6 Zn/Cu Sub-total 1,003 2.0 7.0 2.1 52.0 0.3 5.1 Sub-total 597 1.8 6.6 2.1 53.1 0.3 4.8 Indicated 453 2.2 4.5 0.4 42.0 0.9 4.0 Probable 361 2.2 4.5 0.4 40.7 0.9 4.0 Inferred 204 1.0 1.8 0.2 22.4 0.4 1.8 Sub-total 657 1.8 3.7 0.3 35.9 0.8 3.3 Sub-total 361 2.2 4.5 0.4 40.7 0.9 4.0 Measured 4,260 1.7 3.4 0.2 18.2 0.0 2.5 Indicated 9,621 1.3 3.8 0.2 18.2 0.0 2.2 Probable 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Inferred 5,154 0.7 2.0 0.2 13.9 0.0 1.3 Sub-total 19,035 1.2 3.2 0.2 17.0 0.0 2.0 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Measured 5,533 1.6 3.0 0.3 23.4 0.1 2.5 Indicated 15,226 1.2 3.3 0.4 20.6 0.1 2.2 Probable 10,123 1.7 3.6 0.4 25.0 0.1 2.8 Inferred 5,515 0.8 1.9 0.2 13.9 0.0 1.3 Total Sulphide Resources 26,274 1.2 3.0 0.3 19.8 0.1 2.1 Total Sulphide Reserves 10,123 1.7 3.6 0.4 25.0 0.1 2.8 MINERAL RESOURCES ORE RESERVES Location Tonnes x 1,000 Cu wt% Zn wt% Pb wt% Ag g/t Au g/t CuEQ wt % Salt Creek Cu Liberty- Indee CuEQ wt % Whim Creek Mons Cupri Tonnes x 1,000 Cu wt% Zn wt% Pb wt% All Locations JORC Classification JORC Classification Sulphur Springs Ag g/t Au g/t	Indicated 967 1.4 1.2 0.2 8.8 0.1 1.8 Probable 687 1.7 1.1 0.2 8.9 0.1 2.1 Inferred 4 0.5 2.3 0.6 13.9 0.1 1.1 Sub-total 972 1.4 1.2 0.2 8.8 0.1 1.8 Sub-total 687 1.7 1.1 0.2 8.9 0.1 2.1 Measured 1,273 1.5 1.7 0.8 41.1 0.3 2.4 Indicated 3,286 0.7 1.1 0.4 17.7 0.1 1.2 Probable 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Inferred 48 0.7 0.6 0.1 9.0 0.0 0.9 Sub-total 4,607 0.9 1.3 0.5 24.1 0.1 1.5 Sub-total 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Zn Indicated 475 0.2 14.1 4.4 107.1 0.5 6.4 Probable 361 0.2 12.8 4.2 109.2 0.5 6.0 Indicated 423 3.7 0.9 0.1 2.7 0.1 4.0 Probable 236 4.1 1.3 0.2 3.2 0.1 4.6 Inferred 105 3.5 0.1 0.0 1.5 0.0 3.6 Zn/Cu Sub-total 1,003 2.0 7.0 2.1 52.0 0.3 5.1 Sub-total 597 1.8 6.6 2.1 53.1 0.3 4.8 Indicated 453 2.2 4.5 0.4 42.0 0.9 4.0 Probable 361 2.2 4.5 0.4 40.7 0.9 4.0 Inferred 204 1.0 1.8 0.2 22.4 0.4 1.8 Sub-total 657 1.8 3.7 0.3 35.9 0.8 3.3 Sub-total 361 2.2 4.5 0.4 40.7 0.9 4.0 Measured 4,260 1.7 3.4 0.2 18.2 0.0 2.5 Indicated 9,621 1.3 3.8 0.2 18.2 0.0 2.2 Probable 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Inferred 5,154 0.7 2.0 0.2 13.9 0.0 1.3 Sub-total 19,035 1.2 3.2 0.2 17.0 0.0 2.0 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Measured 5,533 1.6 3.0 0.3 23.4 0.1 2.5 Indicated 15,226 1.2 3.3 0.4 20.6 0.1 2.2 Probable 10,123 1.7 3.6 0.4 25.0 0.1 2.8 Inferred 5,515 0.8 1.9 0.2 13.9 0.0 1.3 Total Sulphide Resources 26,274 1.2 3.0 0.3 19.8 0.1 2.1 Total Sulphide Reserves 10,123 1.7 3.6 0.4 25.0 0.1 2.8 MINERAL RESOURCES ORE RESERVES Location Tonnes x 1,000 Cu wt% Zn wt% Pb wt% Ag g/t Au g/t CuEQ wt % Salt Creek Cu Liberty- Indee CuEQ wt % Whim Creek Mons Cupri Tonnes x 1,000 Cu wt% Zn wt% Pb wt% All Locations JORC Classification JORC Classification Sulphur Springs Ag g/t Au g/t	Indicated 967 1.4 1.2 0.2 8.8 0.1 1.8 Probable 687 1.7 1.1 0.2 8.9 0.1 2.1 Inferred 4 0.5 2.3 0.6 13.9 0.1 1.1 Sub-total 972 1.4 1.2 0.2 8.8 0.1 1.8 Sub-total 687 1.7 1.1 0.2 8.9 0.1 2.1 Measured 1,273 1.5 1.7 0.8 41.1 0.3 2.4 Indicated 3,286 0.7 1.1 0.4 17.7 0.1 1.2 Probable 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Inferred 48 0.7 0.6 0.1 9.0 0.0 0.9 Sub-total 4,607 0.9 1.3 0.5 24.1 0.1 1.5 Sub-total 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Zn Indicated 475 0.2 14.1 4.4 107.1 0.5 6.4 Probable 361 0.2 12.8 4.2 109.2 0.5 6.0 Indicated 423 3.7 0.9 0.1 2.7 0.1 4.0 Probable 236 4.1 1.3 0.2 3.2 0.1 4.6 Inferred 105 3.5 0.1 0.0 1.5 0.0 3.6 Zn/Cu Sub-total 1,003 2.0 7.0 2.1 52.0 0.3 5.1 Sub-total 597 1.8 6.6 2.1 53.1 0.3 4.8 Indicated 453 2.2 4.5 0.4 42.0 0.9 4.0 Probable 361 2.2 4.5 0.4 40.7 0.9 4.0 Inferred 204 1.0 1.8 0.2 22.4 0.4 1.8 Sub-total 657 1.8 3.7 0.3 35.9 0.8 3.3 Sub-total 361 2.2 4.5 0.4 40.7 0.9 4.0 Measured 4,260 1.7 3.4 0.2 18.2 0.0 2.5 Indicated 9,621 1.3 3.8 0.2 18.2 0.0 2.2 Probable 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Inferred 5,154 0.7 2.0 0.2 13.9 0.0 1.3 Sub-total 19,035 1.2 3.2 0.2 17.0 0.0 2.0 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Measured 5,533 1.6 3.0 0.3 23.4 0.1 2.5 Indicated 15,226 1.2 3.3 0.4 20.6 0.1 2.2 Probable 10,123 1.7 3.6 0.4 25.0 0.1 2.8 Inferred 5,515 0.8 1.9 0.2 13.9 0.0 1.3 Total Sulphide Resources 26,274 1.2 3.0 0.3 19.8 0.1 2.1 Total Sulphide Reserves 10,123 1.7 3.6 0.4 25.0 0.1 2.8 MINERAL RESOURCES ORE RESERVES Location Tonnes x 1,000 Cu wt% Zn wt% Pb wt% Ag g/t Au g/t CuEQ wt % Salt Creek Cu Liberty- Indee CuEQ wt % Whim Creek Mons Cupri Tonnes x 1,000 Cu wt% Zn wt% Pb wt% All Locations JORC Classification JORC Classification Sulphur Springs Ag g/t Au g/t	Indicated 967 1.4 1.2 0.2 8.8 0.1 1.8 Probable 687 1.7 1.1 0.2 8.9 0.1 2.1 Inferred 4 0.5 2.3 0.6 13.9 0.1 1.1 Sub-total 972 1.4 1.2 0.2 8.8 0.1 1.8 Sub-total 687 1.7 1.1 0.2 8.9 0.1 2.1 Measured 1,273 1.5 1.7 0.8 41.1 0.3 2.4 Indicated 3,286 0.7 1.1 0.4 17.7 0.1 1.2 Probable 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Inferred 48 0.7 0.6 0.1 9.0 0.0 0.9 Sub-total 4,607 0.9 1.3 0.5 24.1 0.1 1.5 Sub-total 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Zn Indicated 475 0.2 14.1 4.4 107.1 0.5 6.4 Probable 361 0.2 12.8 4.2 109.2 0.5 6.0 Indicated 423 3.7 0.9 0.1 2.7 0.1 4.0 Probable 236 4.1 1.3 0.2 3.2 0.1 4.6 Inferred 105 3.5 0.1 0.0 1.5 0.0 3.6 Zn/Cu Sub-total 1,003 2.0 7.0 2.1 52.0 0.3 5.1 Sub-total 597 1.8 6.6 2.1 53.1 0.3 4.8 Indicated 453 2.2 4.5 0.4 42.0 0.9 4.0 Probable 361 2.2 4.5 0.4 40.7 0.9 4.0 Inferred 204 1.0 1.8 0.2 22.4 0.4 1.8 Sub-total 657 1.8 3.7 0.3 35.9 0.8 3.3 Sub-total 361 2.2 4.5 0.4 40.7 0.9 4.0 Measured 4,260 1.7 3.4 0.2 18.2 0.0 2.5 Indicated 9,621 1.3 3.8 0.2 18.2 0.0 2.2 Probable 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Inferred 5,154 0.7 2.0 0.2 13.9 0.0 1.3 Sub-total 19,035 1.2 3.2 0.2 17.0 0.0 2.0 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Measured 5,533 1.6 3.0 0.3 23.4 0.1 2.5 Indicated 15,226 1.2 3.3 0.4 20.6 0.1 2.2 Probable 10,123 1.7 3.6 0.4 25.0 0.1 2.8 Inferred 5,515 0.8 1.9 0.2 13.9 0.0 1.3 Total Sulphide Resources 26,274 1.2 3.0 0.3 19.8 0.1 2.1 Total Sulphide Reserves 10,123 1.7 3.6 0.4 25.0 0.1 2.8 MINERAL RESOURCES ORE RESERVES Location Tonnes x 1,000 Cu wt% Zn wt% Pb wt% Ag g/t Au g/t CuEQ wt % Salt Creek Cu Liberty- Indee CuEQ wt % Whim Creek Mons Cupri Tonnes x 1,000 Cu wt% Zn wt% Pb wt% All Locations JORC Classification JORC Classification Sulphur Springs Ag g/t Au g/t	Indicated 967 1.4 1.2 0.2 8.8 0.1 1.8 Probable 687 1.7 1.1 0.2 8.9 0.1 2.1 Inferred 4 0.5 2.3 0.6 13.9 0.1 1.1 Sub-total 972 1.4 1.2 0.2 8.8 0.1 1.8 Sub-total 687 1.7 1.1 0.2 8.9 0.1 2.1 Measured 1,273 1.5 1.7 0.8 41.1 0.3 2.4 Indicated 3,286 0.7 1.1 0.4 17.7 0.1 1.2 Probable 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Inferred 48 0.7 0.6 0.1 9.0 0.0 0.9 Sub-total 4,607 0.9 1.3 0.5 24.1 0.1 1.5 Sub-total 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Zn Indicated 475 0.2 14.1 4.4 107.1 0.5 6.4 Probable 361 0.2 12.8 4.2 109.2 0.5 6.0 Indicated 423 3.7 0.9 0.1 2.7 0.1 4.0 Probable 236 4.1 1.3 0.2 3.2 0.1 4.6 Inferred 105 3.5 0.1 0.0 1.5 0.0 3.6 Zn/Cu Sub-total 1,003 2.0 7.0 2.1 52.0 0.3 5.1 Sub-total 597 1.8 6.6 2.1 53.1 0.3 4.8 Indicated 453 2.2 4.5 0.4 42.0 0.9 4.0 Probable 361 2.2 4.5 0.4 40.7 0.9 4.0 Inferred 204 1.0 1.8 0.2 22.4 0.4 1.8 Sub-total 657 1.8 3.7 0.3 35.9 0.8 3.3 Sub-total 361 2.2 4.5 0.4 40.7 0.9 4.0 Measured 4,260 1.7 3.4 0.2 18.2 0.0 2.5 Indicated 9,621 1.3 3.8 0.2 18.2 0.0 2.2 Probable 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Inferred 5,154 0.7 2.0 0.2 13.9 0.0 1.3 Sub-total 19,035 1.2 3.2 0.2 17.0 0.0 2.0 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Measured 5,533 1.6 3.0 0.3 23.4 0.1 2.5 Indicated 15,226 1.2 3.3 0.4 20.6 0.1 2.2 Probable 10,123 1.7 3.6 0.4 25.0 0.1 2.8 Inferred 5,515 0.8 1.9 0.2 13.9 0.0 1.3 Total Sulphide Resources 26,274 1.2 3.0 0.3 19.8 0.1 2.1 Total Sulphide Reserves 10,123 1.7 3.6 0.4 25.0 0.1 2.8 MINERAL RESOURCES ORE RESERVES Location Tonnes x 1,000 Cu wt% Zn wt% Pb wt% Ag g/t Au g/t CuEQ wt % Salt Creek Cu Liberty- Indee CuEQ wt % Whim Creek Mons Cupri Tonnes x 1,000 Cu wt% Zn wt% Pb wt% All Locations JORC Classification JORC Classification Sulphur Springs Ag g/t Au g/t	Indicated 967 1.4 1.2 0.2 8.8 0.1 1.8 Probable 687 1.7 1.1 0.2 8.9 0.1 2.1 Inferred 4 0.5 2.3 0.6 13.9 0.1 1.1 Sub-total 972 1.4 1.2 0.2 8.8 0.1 1.8 Sub-total 687 1.7 1.1 0.2 8.9 0.1 2.1 Measured 1,273 1.5 1.7 0.8 41.1 0.3 2.4 Indicated 3,286 0.7 1.1 0.4 17.7 0.1 1.2 Probable 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Inferred 48 0.7 0.6 0.1 9.0 0.0 0.9 Sub-total 4,607 0.9 1.3 0.5 24.1 0.1 1.5 Sub-total 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Zn Indicated 475 0.2 14.1 4.4 107.1 0.5 6.4 Probable 361 0.2 12.8 4.2 109.2 0.5 6.0 Indicated 423 3.7 0.9 0.1 2.7 0.1 4.0 Probable 236 4.1 1.3 0.2 3.2 0.1 4.6 Inferred 105 3.5 0.1 0.0 1.5 0.0 3.6 Zn/Cu Sub-total 1,003 2.0 7.0 2.1 52.0 0.3 5.1 Sub-total 597 1.8 6.6 2.1 53.1 0.3 4.8 Indicated 453 2.2 4.5 0.4 42.0 0.9 4.0 Probable 361 2.2 4.5 0.4 40.7 0.9 4.0 Inferred 204 1.0 1.8 0.2 22.4 0.4 1.8 Sub-total 657 1.8 3.7 0.3 35.9 0.8 3.3 Sub-total 361 2.2 4.5 0.4 40.7 0.9 4.0 Measured 4,260 1.7 3.4 0.2 18.2 0.0 2.5 Indicated 9,621 1.3 3.8 0.2 18.2 0.0 2.2 Probable 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Inferred 5,154 0.7 2.0 0.2 13.9 0.0 1.3 Sub-total 19,035 1.2 3.2 0.2 17.0 0.0 2.0 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Measured 5,533 1.6 3.0 0.3 23.4 0.1 2.5 Indicated 15,226 1.2 3.3 0.4 20.6 0.1 2.2 Probable 10,123 1.7 3.6 0.4 25.0 0.1 2.8 Inferred 5,515 0.8 1.9 0.2 13.9 0.0 1.3 Total Sulphide Resources 26,274 1.2 3.0 0.3 19.8 0.1 2.1 Total Sulphide Reserves 10,123 1.7 3.6 0.4 25.0 0.1 2.8 MINERAL RESOURCES ORE RESERVES Location Tonnes x 1,000 Cu wt% Zn wt% Pb wt% Ag g/t Au g/t CuEQ wt % Salt Creek Cu Liberty- Indee CuEQ wt % Whim Creek Mons Cupri Tonnes x 1,000 Cu wt% Zn wt% Pb wt% All Locations JORC Classification JORC Classification Sulphur Springs Ag g/t Au g/t	Indicated 967 1.4 1.2 0.2 8.8 0.1 1.8 Probable 687 1.7 1.1 0.2 8.9 0.1 2.1 Inferred 4 0.5 2.3 0.6 13.9 0.1 1.1 Sub-total 972 1.4 1.2 0.2 8.8 0.1 1.8 Sub-total 687 1.7 1.1 0.2 8.9 0.1 2.1 Measured 1,273 1.5 1.7 0.8 41.1 0.3 2.4 Indicated 3,286 0.7 1.1 0.4 17.7 0.1 1.2 Probable 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Inferred 48 0.7 0.6 0.1 9.0 0.0 0.9 Sub-total 4,607 0.9 1.3 0.5 24.1 0.1 1.5 Sub-total 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Zn Indicated 475 0.2 14.1 4.4 107.1 0.5 6.4 Probable 361 0.2 12.8 4.2 109.2 0.5 6.0 Indicated 423 3.7 0.9 0.1 2.7 0.1 4.0 Probable 236 4.1 1.3 0.2 3.2 0.1 4.6 Inferred 105 3.5 0.1 0.0 1.5 0.0 3.6 Zn/Cu Sub-total 1,003 2.0 7.0 2.1 52.0 0.3 5.1 Sub-total 597 1.8 6.6 2.1 53.1 0.3 4.8 Indicated 453 2.2 4.5 0.4 42.0 0.9 4.0 Probable 361 2.2 4.5 0.4 40.7 0.9 4.0 Inferred 204 1.0 1.8 0.2 22.4 0.4 1.8 Sub-total 657 1.8 3.7 0.3 35.9 0.8 3.3 Sub-total 361 2.2 4.5 0.4 40.7 0.9 4.0 Measured 4,260 1.7 3.4 0.2 18.2 0.0 2.5 Indicated 9,621 1.3 3.8 0.2 18.2 0.0 2.2 Probable 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Inferred 5,154 0.7 2.0 0.2 13.9 0.0 1.3 Sub-total 19,035 1.2 3.2 0.2 17.0 0.0 2.0 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Measured 5,533 1.6 3.0 0.3 23.4 0.1 2.5 Indicated 15,226 1.2 3.3 0.4 20.6 0.1 2.2 Probable 10,123 1.7 3.6 0.4 25.0 0.1 2.8 Inferred 5,515 0.8 1.9 0.2 13.9 0.0 1.3 Total Sulphide Resources 26,274 1.2 3.0 0.3 19.8 0.1 2.1 Total Sulphide Reserves 10,123 1.7 3.6 0.4 25.0 0.1 2.8 MINERAL RESOURCES ORE RESERVES Location Tonnes x 1,000 Cu wt% Zn wt% Pb wt% Ag g/t Au g/t CuEQ wt % Salt Creek Cu Liberty- Indee CuEQ wt % Whim Creek Mons Cupri Tonnes x 1,000 Cu wt% Zn wt% Pb wt% All Locations JORC Classification JORC Classification Sulphur Springs Ag g/t Au g/t	Indicated 967 1.4 1.2 0.2 8.8 0.1 1.8 Probable 687 1.7 1.1 0.2 8.9 0.1 2.1 Inferred 4 0.5 2.3 0.6 13.9 0.1 1.1 Sub-total 972 1.4 1.2 0.2 8.8 0.1 1.8 Sub-total 687 1.7 1.1 0.2 8.9 0.1 2.1 Measured 1,273 1.5 1.7 0.8 41.1 0.3 2.4 Indicated 3,286 0.7 1.1 0.4 17.7 0.1 1.2 Probable 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Inferred 48 0.7 0.6 0.1 9.0 0.0 0.9 Sub-total 4,607 0.9 1.3 0.5 24.1 0.1 1.5 Sub-total 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Zn Indicated 475 0.2 14.1 4.4 107.1 0.5 6.4 Probable 361 0.2 12.8 4.2 109.2 0.5 6.0 Indicated 423 3.7 0.9 0.1 2.7 0.1 4.0 Probable 236 4.1 1.3 0.2 3.2 0.1 4.6 Inferred 105 3.5 0.1 0.0 1.5 0.0 3.6 Zn/Cu Sub-total 1,003 2.0 7.0 2.1 52.0 0.3 5.1 Sub-total 597 1.8 6.6 2.1 53.1 0.3 4.8 Indicated 453 2.2 4.5 0.4 42.0 0.9 4.0 Probable 361 2.2 4.5 0.4 40.7 0.9 4.0 Inferred 204 1.0 1.8 0.2 22.4 0.4 1.8 Sub-total 657 1.8 3.7 0.3 35.9 0.8 3.3 Sub-total 361 2.2 4.5 0.4 40.7 0.9 4.0 Measured 4,260 1.7 3.4 0.2 18.2 0.0 2.5 Indicated 9,621 1.3 3.8 0.2 18.2 0.0 2.2 Probable 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Inferred 5,154 0.7 2.0 0.2 13.9 0.0 1.3 Sub-total 19,035 1.2 3.2 0.2 17.0 0.0 2.0 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Measured 5,533 1.6 3.0 0.3 23.4 0.1 2.5 Indicated 15,226 1.2 3.3 0.4 20.6 0.1 2.2 Probable 10,123 1.7 3.6 0.4 25.0 0.1 2.8 Inferred 5,515 0.8 1.9 0.2 13.9 0.0 1.3 Total Sulphide Resources 26,274 1.2 3.0 0.3 19.8 0.1 2.1 Total Sulphide Reserves 10,123 1.7 3.6 0.4 25.0 0.1 2.8 MINERAL RESOURCES ORE RESERVES Location Tonnes x 1,000 Cu wt% Zn wt% Pb wt% Ag g/t Au g/t CuEQ wt % Salt Creek Cu Liberty- Indee CuEQ wt % Whim Creek Mons Cupri Tonnes x 1,000 Cu wt% Zn wt% Pb wt% All Locations JORC Classification JORC Classification Sulphur Springs Ag g/t Au g/t	Indicated 967 1.4 1.2 0.2 8.8 0.1 1.8 Probable 687 1.7 1.1 0.2 8.9 0.1 2.1 Inferred 4 0.5 2.3 0.6 13.9 0.1 1.1 Sub-total 972 1.4 1.2 0.2 8.8 0.1 1.8 Sub-total 687 1.7 1.1 0.2 8.9 0.1 2.1 Measured 1,273 1.5 1.7 0.8 41.1 0.3 2.4 Indicated 3,286 0.7 1.1 0.4 17.7 0.1 1.2 Probable 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Inferred 48 0.7 0.6 0.1 9.0 0.0 0.9 Sub-total 4,607 0.9 1.3 0.5 24.1 0.1 1.5 Sub-total 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Zn Indicated 475 0.2 14.1 4.4 107.1 0.5 6.4 Probable 361 0.2 12.8 4.2 109.2 0.5 6.0 Indicated 423 3.7 0.9 0.1 2.7 0.1 4.0 Probable 236 4.1 1.3 0.2 3.2 0.1 4.6 Inferred 105 3.5 0.1 0.0 1.5 0.0 3.6 Zn/Cu Sub-total 1,003 2.0 7.0 2.1 52.0 0.3 5.1 Sub-total 597 1.8 6.6 2.1 53.1 0.3 4.8 Indicated 453 2.2 4.5 0.4 42.0 0.9 4.0 Probable 361 2.2 4.5 0.4 40.7 0.9 4.0 Inferred 204 1.0 1.8 0.2 22.4 0.4 1.8 Sub-total 657 1.8 3.7 0.3 35.9 0.8 3.3 Sub-total 361 2.2 4.5 0.4 40.7 0.9 4.0 Measured 4,260 1.7 3.4 0.2 18.2 0.0 2.5 Indicated 9,621 1.3 3.8 0.2 18.2 0.0 2.2 Probable 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Inferred 5,154 0.7 2.0 0.2 13.9 0.0 1.3 Sub-total 19,035 1.2 3.2 0.2 17.0 0.0 2.0 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Measured 5,533 1.6 3.0 0.3 23.4 0.1 2.5 Indicated 15,226 1.2 3.3 0.4 20.6 0.1 2.2 Probable 10,123 1.7 3.6 0.4 25.0 0.1 2.8 Inferred 5,515 0.8 1.9 0.2 13.9 0.0 1.3 Total Sulphide Resources 26,274 1.2 3.0 0.3 19.8 0.1 2.1 Total Sulphide Reserves 10,123 1.7 3.6 0.4 25.0 0.1 2.8 MINERAL RESOURCES ORE RESERVES Location Tonnes x 1,000 Cu wt% Zn wt% Pb wt% Ag g/t Au g/t CuEQ wt % Salt Creek Cu Liberty- Indee CuEQ wt % Whim Creek Mons Cupri Tonnes x 1,000 Cu wt% Zn wt% Pb wt% All Locations JORC Classification JORC Classification Sulphur Springs Ag g/t Au g/t	Indicated 967 1.4 1.2 0.2 8.8 0.1 1.8 Probable 687 1.7 1.1 0.2 8.9 0.1 2.1 Inferred 4 0.5 2.3 0.6 13.9 0.1 1.1 Sub-total 972 1.4 1.2 0.2 8.8 0.1 1.8 Sub-total 687 1.7 1.1 0.2 8.9 0.1 2.1 Measured 1,273 1.5 1.7 0.8 41.1 0.3 2.4 Indicated 3,286 0.7 1.1 0.4 17.7 0.1 1.2 Probable 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Inferred 48 0.7 0.6 0.1 9.0 0.0 0.9 Sub-total 4,607 0.9 1.3 0.5 24.1 0.1 1.5 Sub-total 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Zn Indicated 475 0.2 14.1 4.4 107.1 0.5 6.4 Probable 361 0.2 12.8 4.2 109.2 0.5 6.0 Indicated 423 3.7 0.9 0.1 2.7 0.1 4.0 Probable 236 4.1 1.3 0.2 3.2 0.1 4.6 Inferred 105 3.5 0.1 0.0 1.5 0.0 3.6 Zn/Cu Sub-total 1,003 2.0 7.0 2.1 52.0 0.3 5.1 Sub-total 597 1.8 6.6 2.1 53.1 0.3 4.8 Indicated 453 2.2 4.5 0.4 42.0 0.9 4.0 Probable 361 2.2 4.5 0.4 40.7 0.9 4.0 Inferred 204 1.0 1.8 0.2 22.4 0.4 1.8 Sub-total 657 1.8 3.7 0.3 35.9 0.8 3.3 Sub-total 361 2.2 4.5 0.4 40.7 0.9 4.0 Measured 4,260 1.7 3.4 0.2 18.2 0.0 2.5 Indicated 9,621 1.3 3.8 0.2 18.2 0.0 2.2 Probable 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Inferred 5,154 0.7 2.0 0.2 13.9 0.0 1.3 Sub-total 19,035 1.2 3.2 0.2 17.0 0.0 2.0 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Measured 5,533 1.6 3.0 0.3 23.4 0.1 2.5 Indicated 15,226 1.2 3.3 0.4 20.6 0.1 2.2 Probable 10,123 1.7 3.6 0.4 25.0 0.1 2.8 Inferred 5,515 0.8 1.9 0.2 13.9 0.0 1.3 Total Sulphide Resources 26,274 1.2 3.0 0.3 19.8 0.1 2.1 Total Sulphide Reserves 10,123 1.7 3.6 0.4 25.0 0.1 2.8 MINERAL RESOURCES ORE RESERVES Location Tonnes x 1,000 Cu wt% Zn wt% Pb wt% Ag g/t Au g/t CuEQ wt % Salt Creek Cu Liberty- Indee CuEQ wt % Whim Creek Mons Cupri Tonnes x 1,000 Cu wt% Zn wt% Pb wt% All Locations JORC Classification JORC Classification Sulphur Springs Ag g/t Au g/t	Indicated 967 1.4 1.2 0.2 8.8 0.1 1.8 Probable 687 1.7 1.1 0.2 8.9 0.1 2.1 Inferred 4 0.5 2.3 0.6 13.9 0.1 1.1 Sub-total 972 1.4 1.2 0.2 8.8 0.1 1.8 Sub-total 687 1.7 1.1 0.2 8.9 0.1 2.1 Measured 1,273 1.5 1.7 0.8 41.1 0.3 2.4 Indicated 3,286 0.7 1.1 0.4 17.7 0.1 1.2 Probable 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Inferred 48 0.7 0.6 0.1 9.0 0.0 0.9 Sub-total 4,607 0.9 1.3 0.5 24.1 0.1 1.5 Sub-total 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Zn Indicated 475 0.2 14.1 4.4 107.1 0.5 6.4 Probable 361 0.2 12.8 4.2 109.2 0.5 6.0 Indicated 423 3.7 0.9 0.1 2.7 0.1 4.0 Probable 236 4.1 1.3 0.2 3.2 0.1 4.6 Inferred 105 3.5 0.1 0.0 1.5 0.0 3.6 Zn/Cu Sub-total 1,003 2.0 7.0 2.1 52.0 0.3 5.1 Sub-total 597 1.8 6.6 2.1 53.1 0.3 4.8 Indicated 453 2.2 4.5 0.4 42.0 0.9 4.0 Probable 361 2.2 4.5 0.4 40.7 0.9 4.0 Inferred 204 1.0 1.8 0.2 22.4 0.4 1.8 Sub-total 657 1.8 3.7 0.3 35.9 0.8 3.3 Sub-total 361 2.2 4.5 0.4 40.7 0.9 4.0 Measured 4,260 1.7 3.4 0.2 18.2 0.0 2.5 Indicated 9,621 1.3 3.8 0.2 18.2 0.0 2.2 Probable 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Inferred 5,154 0.7 2.0 0.2 13.9 0.0 1.3 Sub-total 19,035 1.2 3.2 0.2 17.0 0.0 2.0 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Measured 5,533 1.6 3.0 0.3 23.4 0.1 2.5 Indicated 15,226 1.2 3.3 0.4 20.6 0.1 2.2 Probable 10,123 1.7 3.6 0.4 25.0 0.1 2.8 Inferred 5,515 0.8 1.9 0.2 13.9 0.0 1.3 Total Sulphide Resources 26,274 1.2 3.0 0.3 19.8 0.1 2.1 Total Sulphide Reserves 10,123 1.7 3.6 0.4 25.0 0.1 2.8 MINERAL RESOURCES ORE RESERVES Location Tonnes x 1,000 Cu wt% Zn wt% Pb wt% Ag g/t Au g/t CuEQ wt % Salt Creek Cu Liberty- Indee CuEQ wt % Whim Creek Mons Cupri Tonnes x 1,000 Cu wt% Zn wt% Pb wt% All Locations JORC Classification JORC Classification Sulphur Springs Ag g/t Au g/t	Indicated 967 1.4 1.2 0.2 8.8 0.1 1.8 Probable 687 1.7 1.1 0.2 8.9 0.1 2.1 Inferred 4 0.5 2.3 0.6 13.9 0.1 1.1 Sub-total 972 1.4 1.2 0.2 8.8 0.1 1.8 Sub-total 687 1.7 1.1 0.2 8.9 0.1 2.1 Measured 1,273 1.5 1.7 0.8 41.1 0.3 2.4 Indicated 3,286 0.7 1.1 0.4 17.7 0.1 1.2 Probable 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Inferred 48 0.7 0.6 0.1 9.0 0.0 0.9 Sub-total 4,607 0.9 1.3 0.5 24.1 0.1 1.5 Sub-total 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Zn Indicated 475 0.2 14.1 4.4 107.1 0.5 6.4 Probable 361 0.2 12.8 4.2 109.2 0.5 6.0 Indicated 423 3.7 0.9 0.1 2.7 0.1 4.0 Probable 236 4.1 1.3 0.2 3.2 0.1 4.6 Inferred 105 3.5 0.1 0.0 1.5 0.0 3.6 Zn/Cu Sub-total 1,003 2.0 7.0 2.1 52.0 0.3 5.1 Sub-total 597 1.8 6.6 2.1 53.1 0.3 4.8 Indicated 453 2.2 4.5 0.4 42.0 0.9 4.0 Probable 361 2.2 4.5 0.4 40.7 0.9 4.0 Inferred 204 1.0 1.8 0.2 22.4 0.4 1.8 Sub-total 657 1.8 3.7 0.3 35.9 0.8 3.3 Sub-total 361 2.2 4.5 0.4 40.7 0.9 4.0 Measured 4,260 1.7 3.4 0.2 18.2 0.0 2.5 Indicated 9,621 1.3 3.8 0.2 18.2 0.0 2.2 Probable 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Inferred 5,154 0.7 2.0 0.2 13.9 0.0 1.3 Sub-total 19,035 1.2 3.2 0.2 17.0 0.0 2.0 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Measured 5,533 1.6 3.0 0.3 23.4 0.1 2.5 Indicated 15,226 1.2 3.3 0.4 20.6 0.1 2.2 Probable 10,123 1.7 3.6 0.4 25.0 0.1 2.8 Inferred 5,515 0.8 1.9 0.2 13.9 0.0 1.3 Total Sulphide Resources 26,274 1.2 3.0 0.3 19.8 0.1 2.1 Total Sulphide Reserves 10,123 1.7 3.6 0.4 25.0 0.1 2.8 MINERAL RESOURCES ORE RESERVES Location Tonnes x 1,000 Cu wt% Zn wt% Pb wt% Ag g/t Au g/t CuEQ wt % Salt Creek Cu Liberty- Indee CuEQ wt % Whim Creek Mons Cupri Tonnes x 1,000 Cu wt% Zn wt% Pb wt% All Locations JORC Classification JORC Classification Sulphur Springs Ag g/t Au g/t	Indicated 967 1.4 1.2 0.2 8.8 0.1 1.8 Probable 687 1.7 1.1 0.2 8.9 0.1 2.1 Inferred 4 0.5 2.3 0.6 13.9 0.1 1.1 Sub-total 972 1.4 1.2 0.2 8.8 0.1 1.8 Sub-total 687 1.7 1.1 0.2 8.9 0.1 2.1 Measured 1,273 1.5 1.7 0.8 41.1 0.3 2.4 Indicated 3,286 0.7 1.1 0.4 17.7 0.1 1.2 Probable 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Inferred 48 0.7 0.6 0.1 9.0 0.0 0.9 Sub-total 4,607 0.9 1.3 0.5 24.1 0.1 1.5 Sub-total 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Zn Indicated 475 0.2 14.1 4.4 107.1 0.5 6.4 Probable 361 0.2 12.8 4.2 109.2 0.5 6.0 Indicated 423 3.7 0.9 0.1 2.7 0.1 4.0 Probable 236 4.1 1.3 0.2 3.2 0.1 4.6 Inferred 105 3.5 0.1 0.0 1.5 0.0 3.6 Zn/Cu Sub-total 1,003 2.0 7.0 2.1 52.0 0.3 5.1 Sub-total 597 1.8 6.6 2.1 53.1 0.3 4.8 Indicated 453 2.2 4.5 0.4 42.0 0.9 4.0 Probable 361 2.2 4.5 0.4 40.7 0.9 4.0 Inferred 204 1.0 1.8 0.2 22.4 0.4 1.8 Sub-total 657 1.8 3.7 0.3 35.9 0.8 3.3 Sub-total 361 2.2 4.5 0.4 40.7 0.9 4.0 Measured 4,260 1.7 3.4 0.2 18.2 0.0 2.5 Indicated 9,621 1.3 3.8 0.2 18.2 0.0 2.2 Probable 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Inferred 5,154 0.7 2.0 0.2 13.9 0.0 1.3 Sub-total 19,035 1.2 3.2 0.2 17.0 0.0 2.0 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Measured 5,533 1.6 3.0 0.3 23.4 0.1 2.5 Indicated 15,226 1.2 3.3 0.4 20.6 0.1 2.2 Probable 10,123 1.7 3.6 0.4 25.0 0.1 2.8 Inferred 5,515 0.8 1.9 0.2 13.9 0.0 1.3 Total Sulphide Resources 26,274 1.2 3.0 0.3 19.8 0.1 2.1 Total Sulphide Reserves 10,123 1.7 3.6 0.4 25.0 0.1 2.8 MINERAL RESOURCES ORE RESERVES Location Tonnes x 1,000 Cu wt% Zn wt% Pb wt% Ag g/t Au g/t CuEQ wt % Salt Creek Cu Liberty- Indee CuEQ wt % Whim Creek Mons Cupri Tonnes x 1,000 Cu wt% Zn wt% Pb wt% All Locations JORC Classification JORC Classification Sulphur Springs Ag g/t Au g/t	Indicated 967 1.4 1.2 0.2 8.8 0.1 1.8 Probable 687 1.7 1.1 0.2 8.9 0.1 2.1 Inferred 4 0.5 2.3 0.6 13.9 0.1 1.1 Sub-total 972 1.4 1.2 0.2 8.8 0.1 1.8 Sub-total 687 1.7 1.1 0.2 8.9 0.1 2.1 Measured 1,273 1.5 1.7 0.8 41.1 0.3 2.4 Indicated 3,286 0.7 1.1 0.4 17.7 0.1 1.2 Probable 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Inferred 48 0.7 0.6 0.1 9.0 0.0 0.9 Sub-total 4,607 0.9 1.3 0.5 24.1 0.1 1.5 Sub-total 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Zn Indicated 475 0.2 14.1 4.4 107.1 0.5 6.4 Probable 361 0.2 12.8 4.2 109.2 0.5 6.0 Indicated 423 3.7 0.9 0.1 2.7 0.1 4.0 Probable 236 4.1 1.3 0.2 3.2 0.1 4.6 Inferred 105 3.5 0.1 0.0 1.5 0.0 3.6 Zn/Cu Sub-total 1,003 2.0 7.0 2.1 52.0 0.3 5.1 Sub-total 597 1.8 6.6 2.1 53.1 0.3 4.8 Indicated 453 2.2 4.5 0.4 42.0 0.9 4.0 Probable 361 2.2 4.5 0.4 40.7 0.9 4.0 Inferred 204 1.0 1.8 0.2 22.4 0.4 1.8 Sub-total 657 1.8 3.7 0.3 35.9 0.8 3.3 Sub-total 361 2.2 4.5 0.4 40.7 0.9 4.0 Measured 4,260 1.7 3.4 0.2 18.2 0.0 2.5 Indicated 9,621 1.3 3.8 0.2 18.2 0.0 2.2 Probable 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Inferred 5,154 0.7 2.0 0.2 13.9 0.0 1.3 Sub-total 19,035 1.2 3.2 0.2 17.0 0.0 2.0 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Measured 5,533 1.6 3.0 0.3 23.4 0.1 2.5 Indicated 15,226 1.2 3.3 0.4 20.6 0.1 2.2 Probable 10,123 1.7 3.6 0.4 25.0 0.1 2.8 Inferred 5,515 0.8 1.9 0.2 13.9 0.0 1.3 Total Sulphide Resources 26,274 1.2 3.0 0.3 19.8 0.1 2.1 Total Sulphide Reserves 10,123 1.7 3.6 0.4 25.0 0.1 2.8 MINERAL RESOURCES ORE RESERVES Location Tonnes x 1,000 Cu wt% Zn wt% Pb wt% Ag g/t Au g/t CuEQ wt % Salt Creek Cu Liberty- Indee CuEQ wt % Whim Creek Mons Cupri Tonnes x 1,000 Cu wt% Zn wt% Pb wt% All Locations JORC Classification JORC Classification Sulphur Springs Ag g/t Au g/t	Indicated 967 1.4 1.2 0.2 8.8 0.1 1.8 Probable 687 1.7 1.1 0.2 8.9 0.1 2.1 Inferred 4 0.5 2.3 0.6 13.9 0.1 1.1 Sub-total 972 1.4 1.2 0.2 8.8 0.1 1.8 Sub-total 687 1.7 1.1 0.2 8.9 0.1 2.1 Measured 1,273 1.5 1.7 0.8 41.1 0.3 2.4 Indicated 3,286 0.7 1.1 0.4 17.7 0.1 1.2 Probable 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Inferred 48 0.7 0.6 0.1 9.0 0.0 0.9 Sub-total 4,607 0.9 1.3 0.5 24.1 0.1 1.5 Sub-total 2,815 1.1 1.8 0.8 32.1 0.2 1.9 Zn Indicated 475 0.2 14.1 4.4 107.1 0.5 6.4 Probable 361 0.2 12.8 4.2 109.2 0.5 6.0 Indicated 423 3.7 0.9 0.1 2.7 0.1 4.0 Probable 236 4.1 1.3 0.2 3.2 0.1 4.6 Inferred 105 3.5 0.1 0.0 1.5 0.0 3.6 Zn/Cu Sub-total 1,003 2.0 7.0 2.1 52.0 0.3 5.1 Sub-total 597 1.8 6.6 2.1 53.1 0.3 4.8 Indicated 453 2.2 4.5 0.4 42.0 0.9 4.0 Probable 361 2.2 4.5 0.4 40.7 0.9 4.0 Inferred 204 1.0 1.8 0.2 22.4 0.4 1.8 Sub-total 657 1.8 3.7 0.3 35.9 0.8 3.3 Sub-total 361 2.2 4.5 0.4 40.7 0.9 4.0 Measured 4,260 1.7 3.4 0.2 18.2 0.0 2.5 Indicated 9,621 1.3 3.8 0.2 18.2 0.0 2.2 Probable 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Inferred 5,154 0.7 2.0 0.2 13.9 0.0 1.3 Sub-total 19,035 1.2 3.2 0.2 17.0 0.0 2.0 5,663 1.9 4.3 0.0 18.0 0.0 3.0 Measured 5,533 1.6 3.0 0.3 23.4 0.1 2.5 Indicated 15,226 1.2 3.3 0.4 20.6 0.1 2.2 Probable 10,123 1.7 3.6 0.4 25.0 0.1 2.8 Inferred 5,515 0.8 1.9 0.2 13.9 0.0 1.3 Total Sulphide Resources 26,274 1.2 3.0 0.3 19.8 0.1 2.1 Total Sulphide Reserves 10,123 1.7 3.6 0.4 25.0 0.1 2.8 MINERAL RESOURCES ORE RESERVES Location Tonnes x 1,000 Cu wt% Zn wt% Pb wt% Ag g/t Au g/t CuEQ wt % Salt Creek Cu Liberty- Indee CuEQ wt % Whim Creek Mons Cupri Tonnes x 1,000 Cu wt% Zn wt% Pb wt% All Locations JORC Classification JORC Classification Sulphur Springs Ag g/t Au g/t
MINERAL RESOURCES										ORE RESERVES
Location		JORC Classification	Tonnes x 1,000	Cu wt%	Zn wt%	Pb wt%	Ag g/t	Au g/t	CuEQ wt %	JORC Classification	Tonnes x 1,000	Cu wt%	Zn wt%	Pb wt%	Ag g/t	Au g/t	CuEQ wt %
him reek		Indicated	967	1.4	1.2	0.2	8.8	0.1	1.8	Probable	687	1.7	1.1	0.2	8.9	0.1	2.1
		Inferred	4	0.5	2.3	0.6	13.9	0.1	1.1
W C		Sub-total	972	1.4	1.2	0.2	8.8	0.1	1.8	Sub-total	687	1.7	1.1	0.2	8.9	0.1	2.1
	ns Cupri	Measured	1,273	1.5	1.7	0.8	41.1	0.3	2.4
		Indicated	3,286	0.7	1.1	0.4	17.7	0.1	1.2	Probable	2,815	1.1	1.8	0.8	32.1	0.2	1.9
		Inferred	48	0.7	0.6	0.1	9.0	0.0	0.9
	Mo	Sub-total	4,607	0.9	1.3	0.5	24.1	0.1	1.5	Sub-total	2,815	1.1	1.8	0.8	32.1	0.2	1.9
t Creek	Zn	Indicated	475	0.2	14.1	4.4	107.1	0.5	6.4	Probable	361	0.2	12.8	4.2	109.2	0.5	6.0
	Cu	Indicated	423	3.7	0.9	0.1	2.7	0.1	4.0	Probable	236	4.1	1.3	0.2	3.2	0.1	4.6
		Inferred	105	3.5	0.1	0.0	1.5	0.0	3.6
Sal	Zn/Cu	Sub-total	1,003	2.0	7.0	2.1	52.0	0.3	5.1	Sub-total	597	1.8	6.6	2.1	53.1	0.3	4.8
berty- dee		Indicated	453	2.2	4.5	0.4	42.0	0.9	4.0	Probable	361	2.2	4.5	0.4	40.7	0.9	4.0
		Inferred	204	1.0	1.8	0.2	22.4	0.4	1.8
Li In		Sub-total	657	1.8	3.7	0.3	35.9	0.8	3.3	Sub-total	361	2.2	4.5	0.4	40.7	0.9	4.0
		Measured	4,260	1.7	3.4	0.2	18.2	0.0	2.5
hur ngs		Indicated	9,621	1.3	3.8	0.2	18.2	0.0	2.2	Probable	5,663	1.9	4.3	0.0	18.0	0.0	3.0
Sulp Spri		Inferred	5,154	0.7	2.0	0.2	13.9	0.0	1.3
		Sub-total	19,035	1.2	3.2	0.2	17.0	0.0	2.0		5,663	1.9	4.3	0.0	18.0	0.0	3.0
Locations		Measured	5,533	1.6	3.0	0.3	23.4	0.1	2.5
		Indicated	15,226	1.2	3.3	0.4	20.6	0.1	2.2	Probable	10,123	1.7	3.6	0.4	25.0	0.1	2.8
		Inferred	5,515	0.8	1.9	0.2	13.9	0.0	1.3
All		Total Sulphide Resources	26,274	1.2	3.0	0.3	19.8	0.1	2.1	Total Sulphide Reserves	10,123	1.7	3.6	0.4	25.0	0.1	2.8

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Mons Cupri / Whim Creek / Liberty-Indee: CuEQ = Cu + (Zn X 0.1947) + (Ag X 0.01104) + (Au X 0.483) Salt Creek: CuEQ = Cu + (Zn X 0.28) + (Pb X 0.26) + (Ag X 0.008) + (Au X 0.513) Sulphur Springs: CuEQ = Cu + (Zn X 0.2017) + (Ag X 0.01076)

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Contact Details

Tim Sugden

Managing Director T: +61 8 6389 7400

• E: tim.sugden@venturexresources.com

Liza Carpene

Company Secretary T: +61 8 6389 7400

• E: liza.carpene@venturexresources.com

Registered Office

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

Postal Address

PO Box 1444 West Leederville WA 6901, Australia

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VXR

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