DEVELOP GLOBAL LIMITED — Investor Presentation 2016

May 23, 2016

Sulphur Springs: a compelling Greenfields Cu-Zn project

Near-term production opportunities

Existing cash-flow

ASX: VXR

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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 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 8 October 2013, Kangaroo Caves Resource Upgrade issued 22 September 2015 and Sulphur Springs Resource Update issued 11 May 2016.

• 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, 22 September 2015 and 11 May 2016 announcements 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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An extensive, high quality Resource inventory in a premier mining jurisdiction

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• Two advanced copperzinc projects

• Large Resource inventory

• Premier mining jurisdiction

• World-class infrastructure

• $60 million and 6 years to assemble

Total Mineral Resource of ~300,000t of contained copper and ~900,000t of contained zinc

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Sulphur Springs Project:
13.4Mt @ 1.5% Cu & 4.0% Zn [2.]
Sulphur Springs
Kangaroo Caves
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Salt Creek
Mons Cupri
Whim Creek
Evelyn
Whim Creek Project:
7.3Mt @ 1.3% Cu & 3.1% Zn [1.]
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Kangaroo Caves Deposit: 3 3.55Mt @ 6% Zn & 0.77% Cu [3.]

• Copper  Lead

• 1. Refer ASX release 8 October 2013 2. Refer ASX release 11 May 2016

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 Zinc  Silver  Gold
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3. Refer ASX release 22 September 2015

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Corporate Overview

Ca ital Structure p

ASX Code

ASX Code VXR Issued Shares 1,746M Market Capitalisation (at 0.5c) $8.7M Cash and receivables (as at 30 April 2016) $0.9M

Key Shareholders

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Regent Pacific
33.6%
42.4% Northern Star Resources
Henghou Industries
Board & Management
13.2%
4.3% Others
6.5%
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Experienced Board

Anthony Kiernan LLB - Non-Executive Chairman Solicitor with +35 years experience with public companies

John Nitschke B.Eng (Hons), MSc - Managing Director Mining engineer with +40 years' experience

Anthony Reilly B.Ec - Non-Executive Director 20 years investment banking experience

Darren Stralow B.Eng, GAICD, GCAF - Non-Exec. Director Mining engineer with +15 years’ experience

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Management & Consultants: Focus on Delivering Technical Excellence

Skilled and Experienced Management Team ........ Hand Picked Consultants

John Nitschke B.Eng (Hons) MSc - Managing Director

Over 40 years experience in evaluation, project development, operations management and optimisation of gold and base metal resources

Trevor Hart – Company Secretary & CFO

20 years' experience including 15 years in resources and mining services

Stefan Gawlinski M.Sc – Consultant Geologist Geologist with outstanding discovery track record, ex-Golden Grove

Reg Beaton B.Sc (Hons) – Consultant Geologist

Geologist with demonstrated discovery track record, ex-Jabiru Metals

– James Guy Consultant Geologist Geologist who has led the revitalisation of Venturex’s exploration

David Milton - Consultant Geologist

Geologist who developed new Resource models for Sulphur Springs and Kangaroo Caves

Blackrock Metals

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Mick Cudby - Metallurgist with 20 years experience in developing and operating heap leach operations Brendan James - Metallurgist with 20 years experience in hydrometallurgy and private equity

Peter Benjamin - Geologist with 35 years experience in exploration and operations geology and project evaluation Ruj Limpraset - Mining Engineer with 10 years experience in open pit planning and scheduling

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Existing cash-flow

A compelling copper-zinc project

Venturex Resources – Three Strategies for Extracting Value

Near-term production opportunities

• Increase and extend cash-flow from SX-EW heap leach operation at Whim Creek:

• Agreement for production of copper cathode extended to December 2018

• Venturex NPI share increased from 15% to 30% for 2016 and 49% thereafter

• Identify near-term low CAPEX production opportunities that are achievable:

• Whim Creek: extensive infrastructure, high grade options from large Resource base

• Sulphur Springs: high-grade supergene resource

• Continue to optimise greenfields Sulphur Springs Copper-Zinc Project:

• Shovel ready now

• Ongoing optimisation producing compelling project economics

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Whim Creek Heap Leach – Current Production Providing Cash-flow

Existing cash-flow

Near-term production opportunities

A compelling copper-zinc project

• VXR share of profit

• FY 2016 (22.5%) $783,000 from ~1,008t

• FY 2017 share will be 39.5% from ~1,200t

• FY 2018 share will be 49% from ~1,000t

• Highly experienced heap leach operator

• Operated by Blackrock Metals

• Access agreement to residual dumps

Our focus is on extending and expanding

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Whim Creek Heap Leach – Expanding and Extending

Existing cash-flow

Near-term production opportunities

A compelling copper-zinc project

• Turning over and restacking existing heap leach dumps

• Installation of Fenix Ion Exchange Unit to supplement Heap Leach production

• Copper production expected to increase from the June 2016 Quarter

• Potential Oxide Copper sources include:

• Whim Creek Open Pit

• Salt Creek

• Evelyn

• Fully funded by Blackrock Metals

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Whim Creek Project – An Outstanding Near Term Production Opportunity

Existing cash-flow

Near-term production opportunities

A compelling copper-zinc project

• Large brownfields project located 122km from Port Hedland

• VMS District including Mons Cupri, Whim Creek, Evelyn and Salt Creek copperzinc-lead and precious metal Resources plus18,500ha of exploration tenements

• Focus on achieving near-term low CAPEX production from the existing copperzinc sulphide resources by:

• Assessing the viability of high grade production from the existing Resources; and

• Increasing the size and/or grade of the existing Resources through exploration

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• Refer ASX Release 26 November 2010

Whim Creek Project – Disciplined Systematic Approach to Exploration

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Existing
cash-flow
Drilling
Drill Targets
Near-term
production
opportunities
IP
Field Truthing 
A compelling
copper-zinc
project
Model for Mineralisation 
Comprehensive Historical Data 
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........ if it is there we will find it

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Mons Cupri – Largest Resource* at Whim Creek

Existing cash-flow

Near-term production opportunities

A compelling copper-zinc project

IP Survey now underway

• Controls for high grade stringer style copper and overlying high grade zinc-lead-silver mineralisation identified

• Potential down plunge extensions of high grade ore

• Post mineralisation fault north of Mons Cupri NW pit opens potential for Mons Cupri host at depth

• Mons Cupri host extends 4km to east

• Alteration Zones – potential VMS related

* 4.6 Mt @ 0.9% Copper, 1.3% zinc, 0.5% lead, 24 g/t silver

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• Refer ASX Release 8 October 2013

Sulphur Springs Copper Zinc Project – Ready for Development

Existing cash-flow

Near-term production opportunities

A compelling copper-zinc project

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• VMS district including Sulphur Springs and Kangaroo Caves Resources and tenements over 27km of under-explored stratigraphy along the Panorama Trend

• Sulphur Springs Underground Project is shovel-ready with Definitive Feasibility Study, approved Mining Leases, Environmental Approval and Native Title Agreements

• Optimisation phase on Sulphur Springs ongoing:

• Proposal to mine upper part of Resource using open pit

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• Inclusion of Kangaroo Caves Resource in mining inventory

• Upgrade of Resource estimate

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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A compelling copper-zinc project

Sulphur Springs Project – Ongoing Optimisation Phase

Existing cash-flow

Near-term production opportunities

Opportunity for Near Term Production

• Updated Mineral Resource estimate for Sulphur Springs:

• 13.4Mt grading 1.5% Cu and 4.0% Zn for 194,000t of contained copper and 530,000t of contained zinc *

• 6% increase in contained copper

• Now includes Supergene resource of 800,000 tonnes grading 4.2% Cu for 34,000t of contained copper

• Enriched copper mineralisation near the surface in the valley floor

• Supergene copper expected to be amenable to heap leach SX/EW recovery

• Potential for near-term low CAPEX production

• New resource model allows opportunities and risks associated with the Project to be identified and evaluated

: Key Optimisation Outcomes to Date Same production

Simpler to mine and operate Significantly lower risk profile Significantly improved financial metrics:  28% reduction in pre-production CAPEX to A$202M

 30% increase in mine life to 11 years **  46% reduction in OPEX: C1 copper cash cost of A$0.84 per pound

Increased copper Resource Opportunity for near term production

• Refer ASX Release 11 May 2016

• ** 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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Sulphur Springs Project – Ongoing Optimisation Activities

Existing

cash-flow

Near-term production opportunities

Assessing Supergene Copper

• Infill drilling

• Metallurgical test work

• Basic infrastructure requirements

• Permitting

New mine plan to support new Reserve estimate

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A compelling copper-zinc project

• Further optimisation of underground mine plans

 Bulk mining to reduce costs

Permitting once project plan finalised

• Environmental risks much better understood

...Supergene copper within VXR capabilities, even in this market

• Referral to EPA for level of assessment

...significant value being added through optimisation stage

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Sulphur Springs – Lithium Exploration Potential

Existing cash-flow

Near-term production opportunities

A compelling copper-zinc project

• Sulphur Springs located 30km from Pilbara Minerals (ASX: PLS) world-class Pilgangoora Lithium-Tantalum Project

• Located within the highly prospective Shaw River District:

• Major regional geological feature where neighbouring explorers are targeting new lithium discoveries

• Review of the lithium potential now underway:

• Desktop review of available historical data

• Expected to be completed by the end of June 2016

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Sulphur Springs is located on the doorstep of the world’s premier emerging lithium province, the Pilgangoora district

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Pilbara Copper-Zinc Projects – Next Steps

Heap Leach Operation at Whim Creek – Funded by Blackrock Metals

• Continue to turn heap leach dumps with excavator

• 

• Commission Fenix Ion Exchange plant 4 tpd

• Actively assess additional sources of heap leachable material – surface stockpiles, Whim 

• Creek open pit, Salt Creek, Evelyn etc 6 tpd

Whim Creek Sulphide Copper Zinc Project

• High grading existing Resources at Mons Cupri with low CAPEX processing plant

• Generate high grade drill targets (if they are there)

• Drill (subject to prospectivity and funding)

Sulphur Springs Project

• Assess potential for low CAPEX early production from newly-discovered supergene zone

• Optimise underground mining and complete new Reserve estimate

• Refer optimised project to EPA to determine the level of assessment

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• Evaluation of lithium potential

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Venturex Resources – Key Investment Takeaways

Ongoing income stream

Near term production opportunities Greenfields Sulphur Springs copper-zinc project Substantial Resource Base World-class mining jurisdiction

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FY 2016 VXR share - $783,000 FY 2017 VXR Share ~$1,600,000 Low CAPEX high grade Targeted exploration generating results Shovel-ready – ongoing optimisation making it even more attractive High leverage to base metals prices Well located near existing infrastructure

...unlocking the value of one of the largest base metal portfolios in Australia

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THANK YOU!

Two advanced copper-zinc projects in WA’s Pilbara Extensive resources with outstanding growth potential Poised for production at the right time

John Nitschke , Managing Director

e: john.nitschke@venturexresources.com Anthony Reilly , Non-Executive Director e: anthony.reilly@venturexresources.com Trevor Hart , Company Secretary/CFO e: trevor.hart@venturexresources.com

Registered Office Level 2, 91 Havelock Street West Perth WA 6005 T: +61 8 6389 7400 F: +61 8 9463 7836 admin@venturexresources.com www.venturexresources.com

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Appendix – Mineral Resource Summary

	Mt	Cu%	Zn%	Pb%	Ag g/t	Au g/t
Combined Sulphur Springs Region
Indicated	10.5	1.4	4.4	0.2	17.1	0.2
Inferred	6.5	1.2	4.4	0.2	18.0	0.2
Sub-Total	17.0	1.4	4.4	0.2	17.4	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
Sub-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
Sub-Total	0.7	1.8	3.7	0.3	35.9	0.8
TOTAL*	24.2	1.3	3.6	0.3	18.0	0.1

• Rounding errors may occur

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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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