DEVELOP GLOBAL LIMITED — Investor Presentation 2011

Sep 28, 2011

Building a Copper, Zinc and Gold Mining Company

Tim Sugden, Managing Director 29 September 2011

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Corporate Information

Cash at Bank

$7m

$87m Market Capital

$80m Enterprise Value

Shares Controlled 9% by Directors

Shares Controlled 70% by Top Twenty 7 – 12 Month Price 16¢ Range

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Board & Management

Mr Tony Kiernan, LLB - Non-Executive Chairman

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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 Michael Mulroney, BSc, MBA - Non-Executive Director

Mr Mulroney is a geologist with over 30 years experience in the natural resources and finance sectors, and has extensive M&A and finance exposure. He is an Executive Director of Argonaut Capital and Managing Director of AFM Perseus Fund.

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 23 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.

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.

Mr Ian Suckling, BASc(Min) - Chief Operating Officer

Mr Suckling has been appointed as Chief Operating Officer and is due to commence on 10 October 2011.

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Corporate Strategy

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

 Exploring for large gold deposits in Brazil

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1 Volcanogenic Massive Sulphide

Strategy in Australia

• Focus on the Pilbara Region

• Best known for iron ore, manganese, gas

• Numerous undeveloped copper-zinc deposits

• Build a significant copper zinc producer through:

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Consolidation Development
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Exploration
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Production
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Resource
Growth
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A Major New Base Metals Producer

• Ownership of Largest VMS Deposits in the Pilbara

• Significant Resource Base (~ 550,000t CuEQ[1] )

• Established Reserves (~10 million t @ 2.8% Cu EQ)

• Copper-Zinc Production Focus

• Ongoing Exploration Potential

• Excellent Infrastructure

• Close to Ports

Major Fast-Track Development Opportunity

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1. 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)

Early Days

• 2007 – Discovery hole at Liberty-Indee JV

• 2009 – Exploration success at Evelyn Prospect

• 20m @ 3.43% Cu, 6.47% Zn, 1.73g/t Au

• Current Resource 657,000 tonnes @ 3.3% CuEQ

• Open at Depth

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Local Synergies Recognised

• 2009 – Acquisition of Whim Creek Copper Project

• SX-EW Oxide operations winding down

• Substantial sulphide resource: 11m tonnes @ 1.45% CuEQ

• Significant infrastructure in place

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• Crusher

• Power

• Water

• Roads

• Accommodation village

• Hotel

 Path to fast track development

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Building Regional Scale

• 2011 – Sulphur Springs

• Completed acquisition in February 2011 from CBH Toho

• Acquired large resource: base - 19.2m tonnes @ 2.2% CuEQ

• Recognised underground development potential with access to central processing facility

• Significant exploration upside in poorly explored area

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Resources Growth through Consolidation

26.3mt Total @ 2.1% Resources CuEQ

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~550kt Total Metal
CuEQ Inventory
2008 2009 2010
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Bankable Feasibility Study Underway

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Concentrate
Export
Centralised Processing
Facility
Open Pit Mining
Mons Cupri
Whim Creek
Underground
Mining Operation
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Whim Creek Project

 Major underexplored VMS field

• First discovered in early 1900s, oxide copper produced sporadic until 1950s

 Straits Resources commenced SX-EW copper production in 2004

• Accessed only oxide caps of Whim Creek and Mons Cupri deposits

• Very limited appraisal of deeper sulphide potential by Straits

• Completed acquisition of Salt Creek area in 2008, field consolidated for the first time in its history

 New VMS field emerges at Liberty-Indee in late 2007

 No systematic exploration

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Exploration target

Mons Cupri Deposit

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Salt Creek – A High Grade VMS System

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Salt Creek – Direct Shipping Ore Potential

		at	ree –		rect ppng re otenta Project
	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

Liberty-Indee Evelyn Discovery

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Sulphur Springs Project

 Largest known VMS deposit in the Pilbara

• JORC Mineral Resource of 19.3Mt @ 1.2% Cu and 3.2% Zn

 Located 160km SE of Port Hedland

 3 granted Mining Leases

• Plus granted tenements on planned infrastructure corridors

• Extensive database of all previous information

• Native title and royalty agreements assigned

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Sulphur Springs Cu-Zn Deposit

Sulphur Springs Long Section

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)

Mons Cupri South West – New Target

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Mons Cupri South West – First Results

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Liberty-Indee

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Gossan @
40% copper
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 Whim Creek equivalent

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 12kms of prospective horizon  Numerous VTEM targets

Salt Creek Exploration Targets

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1 M tonnes @
4.9% CuEQ
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Sulphur Springs Exploration Targets

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Definitive Feasibility Study

• Commenced March 2011

• Scheduled DFS delivery – First Quarter 2012  Cost - $3.5 million

• COO Appointed to Manage DFS & Development – Ian Suckling (ex-Newmont)

• Project management – RMD STEM

• Engineering/Metallurgy – GR Engineering/AMMTEC

• Mining/Geotechnical – Mining One Pty Ltd

• Hydrology/Groundwater – RPS Aquaterra/URS

• Environment – Outback Ecology

• Tailings – Doug Cooper

• Status - $0.92 million spent, critical path is Mons Cupri metallurgy and permitting

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Key Project Parameters

1.3 - Annual Throughput 1.5 mt (8-9 year initial life)

2.5 - Average CuEQ Mill Grade 2.7%

30- Targeted CuEQ Annual Production

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32kt
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Targeted Margin $100 Per Tonne

$135- Capital Cost Estimate 150m

$235m ¹ Project Net 2 Present Value $299m

¹ State One: 24/1/11 NPV 10% ² Argonaut: 21/1/11 NPV 11%

Whim Creek Pit – Pre-Stripped

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Oxide Pit
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Sulphide ore exposed
on pit floor
Sulphide
Ore Zone
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Mons Cupri Plan

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

 Simple cut back, conventional open pit operation

• Low strip ratio

• Extensions at Mons Cupri North West

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Existing Mons
Cupri oxide pit
Mons Cupri
Northwest
Proposed cut-back to
access sulphide ore
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Sulphur Springs Reserves Upgraded

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Section 728.935mE

Sulphur Springs Underground Design

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

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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Planned Mill Throughput

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Mons Cupri/Whim Creek Open Pits
~600,000 – 700,000tpa
@ 2.1% CuEQ
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~600,000 – 700,000tpa
@ 2.1% CuEQ
Copper Circuit Zinc(+/-Lead ) Circuit
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Sulphur Springs Underground ~700,000 – 800,000tpa @ 3.0% CuEQ

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Target Annual Average
Production Rates
~ 20,000t ~40,000t ~3,600t 750,000oz 1,500oz
Cu Zn Pb Ag Au
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Metallurgy

 Sulphur Springs Test Work Completed

SULPHUR SPRINGS LOCKED CYCLE FLOTATION RESULTS	SULPHUR SPRINGS LOCKED CYCLE FLOTATION RESULTS	SULPHUR SPRINGS LOCKED CYCLE FLOTATION RESULTS	SULPHUR SPRINGS LOCKED CYCLE FLOTATION RESULTS	SULPHUR SPRINGS LOCKED CYCLE FLOTATION RESULTS	SULPHUR SPRINGS LOCKED CYCLE FLOTATION RESULTS	SULPHUR SPRINGS LOCKED CYCLE FLOTATION RESULTS	SULPHUR SPRINGS LOCKED CYCLE FLOTATION RESULTS	SULPHUR SPRINGS LOCKED CYCLE FLOTATION RESULTS	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	26.38	95.1	1.28	2.0	74	25.3	1.09	39.2
Zinc ReCl Concentrate 1-3	6.3	0.52	1.9	58.94	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

• Whim Creek produces simple clean copper concentrate

• Final Mons Cupri locked cycle test work underway  Evelyn deposit - sighter tests indicate effective separation of copper and zinc

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Future Upside Options

 Addition of lead recovery circuit

• Economics of additional capital, awaiting final lead and silver recoveries analysis

• Lead concentrate export protocols, containerised transport

 Addition of pyrite recovery circuit

• Circa $50m additional capex

• Target 700,000 tpa pyrite concentrate

• Indicative pricing US$85/t FOB Port Hedland, Chinese offtake

• Reduces PAF issues in tailings disposal

 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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Targeting Mid-2014 as First Full Production Year

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TIMELINE TO PRODUCTION	Feb-11	Mar-11	Apr-11	May-11	Jun-11	Jul-11	Aug-11	Sep-11	Oct-11	Nov-11	Dec-11	Jan-12	Feb-12	Mar-12	Apr-12	May-12	Jun-12	Jul-12	Aug-12	Sep-12	Oct-12	Nov-12	Dec-12	Jan-13	Feb-13	Mar-13	Apr-13	May-13	Jun-13	Jul-13
Acquisition Settlement
Met Plant & Infrastructure
Tailings Characterisation & Dam Design
Mining Studies
Environmental & Permitting
Long Lead Orders
Construction
Haul Road Construction
Pre-strip and Underground Access

Note: Subject to Board approval, financing and permitting

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Gold Exploration - Brazil

• CMG Mineração Ltda is an incorporated and registered Brazilian exploration company, 100% owned by CMG Gold Ltd, a wholly owned subsidiary of Venturex

• Focused on discovery of large gold deposits

• Established exploration team in Cuiabá

• Evaluating projects in Mato Grosso and Tapajós gold district, Pará

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Overview

• Nine project project areas in Mato Grosso and Pará states

• 100% project ownership

• Land package of 118,000 Ha

• Pipe line of grass roots and advanced exploration projects

• Drill ready targets identified on existing project areas

• Low entry cost ensuring investment is principally in the ground

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Location of Brazilian Projects

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Western Tapajos
Gold Resources
CMGM Projects
1. Cuiu Cuiu 1.2 Moz
2.Tocantinzinho 2.5 Moz
3. Palito Mine 0.8 Moz
4. Sao Jorge 0.8 Moz
5. Coringa 0.37 Moz
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Large Land Holding in the Tapajós Largest alluvial gold province in Brazil, estimated to have produced 20-30 Moz 1978-1995

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Serra Verde Gold Project

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Fofoca Velha, brecciated altered granite High Grade Fofoca Velha Vein +100g/t

Spider veined granite

Intensely sericitised, silicified Granite and vein material Doca Prospect Shaft

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Serra Verde Gold Project

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Doca Vein - Shaft Doca Vein - High Grade Ore
Serra Verde - Trado Drilling Serra Verde - Trado Samples
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Grande Canaã Gold Project

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 4 Exploration Licences
 Local mining activities have exposed
stockwork veined, sulphidsed
granite.
10m @
1.27g/t Au
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KL & Hollywood Projects

• 4 Exploration Licences.

• Recent garimpero activities have exposed mineralised veins within altered granites and schists.

• Hollywood was a significant alluvial mine in the 1980s, further sources of the alluvial gold are being evaluated.

• KL is a recent shaft with dump material assaying +2g/t Au. close proximity to the Palito Mine and São Jorge deposit.

• Both projects provide potential for significant “New Discoveries”.

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Epithermal vein Sericite
alteration +5% pyrite
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Competency Statements

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 Minero Consulting 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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Disclaimer and Contact Details

Tim Sugden

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.

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

Website

www.venturexresources.com

ASX Code

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VXR