DEVELOP GLOBAL LIMITED — Investor Presentation 2015

Nov 8, 2015

Pilbara Copper Zinc Project Update

November 2015

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Disclaimers

Cautionary Statement

The information contained in this document (“Presentation”) has been prepared by Venturex Resources Limited (“Company”). This presentation is being used as a presenter’s aid with summarised information. See Venturex’s other and periodic disclosure announcements lodged with the Australian Securities Exchange, which are available at www.asx.com.au or at www.venturexresources.com, for more information.

While the information contained in this Presentation has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers give any representations or warranties (express or implied) as to the accuracy, reliability or completeness of the information in this Presentation, or of any other written or oral information made or to be made available to any interested party or its advisers (all such information being referred to as "Information") and liability therefore is expressly disclaimed. Accordingly, to the full extent permitted by law, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers take any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortious, statutory or otherwise, in respect of, the accuracy or completeness of the Information or for any of the opinions contained in this Presentation or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this Presentation.

This Presentation may include certain statements that may be deemed “forward-looking statements”. All statements in this presentation, other than statements of historical facts, that address future activities and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. The Company, its shareholders, directors, officers, agents, employees or advisers, do not represent, warrant or guarantee, expressly or impliedly, that the information in this Presentation is complete or accurate. To the maximum extent permitted by law, the Company disclaims any responsibility to inform any recipient of this Presentation of any matter that subsequently comes to its notice which may affect any of the information contained in this Presentation. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Venturex assumes no obligation for to update such information.

Investors are cautioned that any forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in forward-looking statements. Please undertake your own evaluation of the information in this presentation and consult your professional advisers if you wish to buy or sell Venturex shares.

Competency Statement

The information in this presentation that relates to Exploration Results, Mineral Resources and Ore Reserves is based on information compiled or reviewed by James Guy who is a Member of the Australasian Institute of Mining and Metallurgy. The information contained in this presentation was previously released in announcements “Company Resource and Reserve Statement – Revised” released 8th October 2013 , and “Kangaroo Caves Resource Upgrade” issued 22 September 2015 .

. The Company confirms that:

• a. The form and context of the material in this presentation has not been materially modified from the above previous announcements

• b. It is not aware of any new information or data that materially affects the information included in the 8 October 2013 announcement and that all material assumptions and technical parameters underpinning the estimate in the 8 October 2013 and 22 September 2015 announcement’s continue to apply and have not materially changed; and

• c. It is uncertain that following further exploration and evaluation that the historical estimates will be able to be reported as mineral resources or ore reserves in accordance with the JORC 2012 Code.

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Large Resource Inventory ~ 590,000t CuEq[1 ]

23.6Mt grading 1.3%Cu 3.8%Zn 0.3%Pb 20.1 g/t Ag

307,000 t Contained Copper 897,000t Contained Zinc

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Salt Creek
Mons Cupri
Evelyn
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 Copper

 Lead

 Zinc

• Silver

 Gold

• 1 CuEq is based on Cu US$3.00/lb, Zn US$1.00/lb, Pb US$1.00/lb, Ag US$20/oz, Au $1,300/oz plus metallurgical recovery factors

• 2 Circle size reflects tonnes of contained Cu Eq metal

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Optimisation Study Results

Metric 2012 DFS Case November 2015	Metric 2012 DFS Case November 2015	Metric 2012 DFS Case November 2015	Metric 2012 DFS Case November 2015
Underground Mine & Process Rate		1.0 million tpa	1.0 million tpa
Average	payable metal production (Y 1 to 6)	16,500t Cu 29,200t Zn 85,400ozs Ag	15,000t Cu 31,500t Zn 200,000ozs Ag
Payable	Metal Produced	136,400t Cu, 245,700t Zn, 1.7Mozs Ag	130,800t Cu, 339,600t Zn, 2.25Mozs Ag
Mine Life		8.5 years +	11 years
**Life of Mine C1 Operating Cost1 **		A$1.07/lb payable Cu	A$0.84 lb payable Cu
Pre-Production Expenditure		A$279 M	A$202 M
Payback from First Production		3.3 years	2.1 years
EBITDA		A$805 million	A$878 M
Pre-tax NPV10 real		A$178 million	A$264M
IRR		25%	42%
Price Assumptions (average)		Cu-US$6,700/t Zn-US$2,400/t Ag- US16/oz A$/US$ 0.74	Cu-US$6,700/t Zn-US$2,400/t Ag-US16/oz A$/US$ 0.74

1 C1 Operating Costs = projected cash costs including mining, processing, site administration and concentrate transport and shipping, TC/RC charges less byproduct credits (Zn, Pb, Ag, Au) using price assumptions quoted.

The LoM schedule is derived from a mining inventory of which 67% is Indicated Resources and 33% is Inferred Resources, the LoM mining inventory does not constitute an Ore Reserve. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the production target itself will be realised.

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Cash Flow

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Sulphur Springs U/G
Payback in 2.1 Years
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Max Cash Out A$226M

Kangaroo Caves U/G

The LoM schedule is derived from a mining inventory of which 67% is Indicated Resources and 33% is Inferred Resources, the LoM mining inventory does not constitute an Ore Reserve. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the production target itself will be realised.

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Sensitivity Analysis

Description	Units	Lower	Base	Upper
Zinc Price	$/t	1,700	2,400	3,000
Copper Price	$/lb	2.80	3.04	3.50
Exchange Rate	AU:US	0.65	0.74	0.8
Capital Expenditure	%	-5%	-	+15%
Operating Expenditure	%	-5%	-	+10%

NPV8 A$307M

Spot Prices

IRR 5% Free Cash $44M

Cu US$5,146/t, Zn US$1,666, Exchange rate 0.71

The LoM schedule is derived from a mining inventory of which 67% is Indicated Resources and 33% is Inferred Resources, the LoM mining inventory does not constitute an Ore Reserve. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the production target itself will be realised.

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Optimisation
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Results
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Upper part of Sulphur Springs deposit will be mined by open cut

• simplifies project and reduces implementation and operations risk

• improved Resource recovery extends mine life

• capital costs of underground mine reduced and deferred until year 4

• open pit mining inventory of 4,280 kt

• Mine operating costs of A$38/t ore

Open pit with copper head grade of 3.0% copper equiv with stripping ratio of 9.3 to 1

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Sulphur Springs Underground

• • capital cost - A$39M

• • Mine operating cost - A$48/t ore

• • development – 13.4km

The LoM schedule is derived from a mining inventory of which 67% is Indicated Resources and 33% is Inferred Resources, the LoM mining inventory does not constitute an Ore Reserve. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the production target itself will be realised.

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Optimisation
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Results
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Kangaroo Caves Underground

• underground mining inventory 1,840 kt

• capital cost - A$15M

• Mine operating cost - A$58/t ore

• development – 10.1km

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Optimisation
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Results
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Processing plant and infrastructure design reviewed

• SAG/Ball mill for grinding

• Tighten up design criteria for flotation

• Simplify handling of concentrates

• Deferral of high cost paste fill plant for underground

Consolidation of tailings disposal and evaporation pond

• Filtration, trucking and stacking of tailings eliminated

• Lower capital and operating costs

• Improved operability

Capital Cost

Site Infrastructure Layout

Plant - $100M (saving of $10M)

Infrastructure $78M (saving of $30M)

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Conceptual Project Development Timeline

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Sulphur
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Permitting
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• Open pit mining of the top portion of the Sulphur Springs deposit results in :-

• storage of waste rock materials with potential to generate acid mine drainage

• an increased project footprint that may impact on conservation significant flora and fauna;

• – changes to the site water balance; and

• a post closure pit lake

• An amended Mining Proposal, application for Native Vegetation Clearing Permit and Mine Closure Plan for Sulphur Springs need to be prepared to address these issues

• The time taken to achieve these approvals will be determined by the level of assessment required by regulators.

• Based on recent project approvals and advice received, the application of good industry practice supported by appropriate investigation and design is likely to result in environmental approval of the amended project

• Works Approvals to allow construction and an Environmental Licence to operate the plant and infrastructure are also required from the Department of Environmental Regulation

• These will be obtained in parallel with the environmental approval process.

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Panorama Trend & Whim Creek Basin

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Sulphur Springs
12.8Mt 1.5% Cu & 4.1% Zn
Kangaroo Caves
3.5 Mt 0.7% Cu & 6.0 % Zn
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• VMS Deposits occur as clusters

• VXR holds 27 km of prospective stratigraphy along the Panorama trend

• includes Sulphur Springs and Kangaroo Caves deposits and six advanced prospects that have all returned ore grade drill intersections

• program under way to use latest modelling technology to reprocess existing DHTEM data on both deposits to define conductors outside current resource areas

• VXR holds 9,929 ha over the Whim Creek basin

• contains four potentially economic depoists including Whim Creek and Mons Cupri – already produced 67,000 t copper

• deposits occur at a similar stratigraphic position within discrete sub basins

• within each of the sub basins potential for both down plunge extensions to the existing VMS style deposits as well as discovery of additional resources within the sub basins.

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Pilbara Copper Zinc Project Business Case

• Optimisation Study has delivered a robust and compelling Project

• Pre-production expenditure of $202M

• Payback in 2.1 years

• Simpler Project with much lower risk profile

• C1 Cu cost of A$0.84 per pound

• Mine life of 11 years

• Open cut mining for first 4 years of Project

• Infrastructure on door step, 162 km’s by road to Port Hedland

• Project is shovel ready- approved Mining Leases, Environmental approvals (will require amendment) and Native Title Agreements

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• Large tenure package covering the largest known Cu-Zn VMS deposits in the Pilbara region of NW Australia

• Significant exploration potential.

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1 VMS = Volcanogenic Massive Sulphide

Pilbara Copper Zinc Project Next Steps

Project Development

• Consultation with the DMP, EPA and other stakeholders on revised project scope

• Refinement of the project concept outlined in the optimisation study

• Preparation of a referral document to allow the level of assessment to be determined - early in 2016

• Development and submission of appropriate documentation for the level of assessment process determined

Exploration

• The ongoing collation and analysis of the geological data sets for the mining and exploration tenements has highlighted many new opportunities including;

• The potential to extend the Resource at Sulphur springs

• Previously unknown data sets from exploration in the Whim Creek Basin

• The application of modern geophysical techniques to exploration at Sulphur Springs and elsewhere along the Panorama trend

• These opportunities will be pursued as funding permits

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Corporate Overview

Capital Structure

Capital Structure
ASX Code	VXR
Issued Shares	1,548m
Market Capitalisation	$12m
Cash and receivables	$0.7m

Share Price

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Experienced Board

Anthony Kiernan LLB - Non-Executive Chairman

Anthony Reilly BEc – Non- Executive Director John Nitschke BEng(Hons), MSc – Managing Director (1/12/15) Darren Stralow BEng, GAICD, GCAF - Non-Executive Director

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Key Shareholders
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33.5% Regent Pacific
Northern Star
46.2%
Henghou Industries
Others
12.9%
7.4%
As at 30 June 2015
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As at 5 November 2015
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Anthony Reilly Non Executive Director

e: anthony.reilly@venturexresources.com

John Nitschke

Managing Director

e: john.nitschke@venturexresources.com

Trevor Hart Company Secretary/CFO e: trevor.hart@venturexresources.com

Registered Office Level 2 91 Havelock Street West Perth WA 6005 Australia

T: +61 8 6389 7400 F: +61 8 9463 7836

admin@venturexresources.com www.venturexresources.com

ASX Code: VXR

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Appendix - Mineral Resource Summary

	Mt	Cu%	Zn%	Pb%	Ag g/t	Au g/t
Combined Sulphur Springs Region
Indicated	10.6	1.7	5.5	0.3	20.5	0.2
Inferred	5.8	0.6	2.6	0.2	10.9	0.2
Total	16.4	1.3	4.5	0.2	17.1	0.2
Combined Whim Creek Region
Measured	1.3	1.5	1.7	0.8	41.1	0.28
Indicated	5.1	1.2	2.3	0.7	23.3	0.13
Inferred	0.2	2.6	0.3	0.1	4.1	0.03
Total	6.6	1.3	2.1	0.7	26.3	0.15
Liberty Indee Joint Venture (70%)
Indicated	0.45	2.2	4.5	0.4	42.0	0.9
Inferred	0.20	1.0	1.8	0.2	22.4	0.4
Total	0.7	1.8	3.7	0.3	35.9	0.8
TOTAL	23.6	1.3	3.8	0.3	20.1	0.1

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Defined Ore Reserves

Three other deposits yet to be upgraded to ore reserve status

ORE RESERVE	ORE RESERVE	ORE RESERVE	ORE RESERVE	ORE RESERVE	ORE RESERVE	ORE RESERVE	ORE RESERVE
	Classification	Tonnes ('000t)	Cu %	Zn %	Pb %	Ag g/t	Au g/t
Whim Creek	Probable	221	2.7	0.9	0.1	8.5	0.1
Mons Cupri	Probable	951	1.7	2.2	1.0	47.1	0.3
Sulphur Springs	Probable	7,200	1.8	4.3	0.1	18.5	0.0
	Total	8,372	1.8	4.0	0.3	21.4	0.1

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