DEVELOP GLOBAL LIMITED — Investor Presentation 2015

Oct 6, 2015

Pilbara Copper Zinc Project Update

October 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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Adjacent to existing mines, near infrastructure, mining services and skilled labour

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Atlas Iron
Abydos Mine
Kangaroo
Caves
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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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2012 Feasibility Study Outcomes

Metric 2012 DFS Case October 2015	Metric 2012 DFS Case October 2015	Metric 2012 DFS Case October 2015	Metric 2012 DFS Case October 2015
Underground Mine & Process Rate		1.0 million tpa	1.0 million tpa
Average annual	payable metal production	16,500t Cu 30,000t Zn 200,000ozs Ag	16,500t Cu 30,000t Zn 200,000ozs Ag
Payable Metal Produced		136,400t Cu, 245,700t Zn, 1.7Mozs Ag	136,400t Cu, 245,700t Zn, 1.7Mozs Ag
Mine Life		8.5 years +	8.5 years +
**Life of Mine C1 Operating Cost1 **		A$1.57/lb payable Cu	A$1.07 lb payable Cu
Pre-Production Capital Cost		A$279 million (incl. EPCM and contingency)	Optimising
Forecast EBITDA		A$548 million	A$825m
Forecast EBIT		A$234 million	A$475m
Forecast Pre-tax NPV10 real		A$49 million	A$178m
IRR		12%	25%
Price Assumptions (average)		Cu-US$7,716/t Zn-US$2,094/t Ag-US$25/oz A$/US$ 0.95	Cu-US$6,700/t Zn-US$2,400/t Ag-US20/oz A$/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.

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Optimisation
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......
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advanced
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Upper part of Sulphur Springs deposit can be mined by open cut

This represents a paradigm shift in the Project

• Greatly simplifies project and reduces implementation and start up risk

• Capital costs of underground mine reduced and deferred until year 5 of project

• Increased recovery of Resource extends mine life

Kangaroo Caves

• Resource updated

• To be included in Mining Inventory

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Site Infrastructure Layout
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• Project life extended well beyond 8.5 years

• 50 Mt open pit containing

• 4 to 5 years production

Sulphur Springs Underground Mine

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Optimisation
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Completion
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2015
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Processing plant and infrastructure design reviewed

• live ore stockpile

• SAG/Ball mill for grinding

• Tighten up design criteria for flotation

• Simplify handling of concentrates

• Deferral of high cost paste fill plant for underground and lead flotation circuit for Whim Creek ores

Consolidation of tailings disposal and evaporation pond

• Filtration, trucking and stacking of tailings eliminated

• Lower capital and operating costs

• Improved operability

Significant savings in up front capital anticipated

Site Infrastructure Layout

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Sulphur Springs Exploration Potential

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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 prospective stratigraphy containing two deposits and six advanced prospects

• Recent work on Kangaroo Caves and Sulphur Springs has identified gaps in the current drill coverage.

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

• 6 Advanced prospects have all returned ore grade drill intersections. All prospects remain open along strike and down dip. Review of past exploration underway to plan additional drilling .

• All targets remain open along strike and down dip

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Looking at the Zinc Component

Zinc Only Component of Australian Zinc Developments

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ZINC INVENTORY TONNES
MEASURED AND INDICATED
800,000
749,000
700,000
600,000
500,000 546,000
400,000
398,000
300,000
200,000 234,000
154,000
100,000
0
ATE HRR RVR STOCKMAN VXR
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Measured and indicated Zinc resource from company reports

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Zinc price squeeze is coming

Zinc concentrate market deficit expected from 2016

Restricted supply, declining stocks will lead to a paradigm shift in prices

• Low Zinc price has led to an underdeveloped global project pipeline

• Urbanisation and industrialisation will drive demand for refined zinc

• The zinc market will undergo a structural shift from 2017 as supply constraints lead the concentrate market into deficit

• Forecasts of the Zinc price escalating to $2,600 - $4,000pt 2017-2019

• The future will be characterised by a roughly balanced market tending towards deficit rather than previous surplus

• Resulting in a long term price above the historic average of $2000

• New long term average of $2,800 from 2020 (Wood McKenzie)

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Pilbara Project Highlights

• Optimisation Study will deliver a major improvement to the Project

• Open cut mining for first 4 years of Project

• Significant reduction in up front capital cost

• Simpler more robust Project with lower risk profile

• Mine life of 10 years targeted

• 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.

• 1 VMS = Volcanogenic Massive Sulphide

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Corporate Overview

Capital Structure

Capital Structure
ASX Code	VXR
Issued Shares	1,548m
Market Capitalisation	$7.5m
Cash and receivables	$0.7m

Share Price

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$0.010
14
$0.009
12 $0.008
$0.007
10
$0.006
8
$0.005
6 $0.004
$0.003
4
$0.002
2
$0.001
0 $0.000
As at 6 August 2015
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Experienced Board

Anthony Kiernan LLB - Non-Executive Chairman

Anthony Reilly BEc – Non- Executive Director John Nitschke BEng(Hons), MSc - Non-Executive Director 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%
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As at 30 June 2015

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Anthony Reilly Non Executive Director e: anthony.reilly@venturexresources.com

John Nitschke

Non Executive 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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