DEVELOP GLOBAL LIMITED — Investor Presentation 2016

Feb 14, 2016

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

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Investor Presentation – February 2016
John Nitschke, Managing Director
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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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Venturex Resources – Investment Overview

• Extensive resource inventory: ~300kt copper, ~900kt zinc

• Two projects near Port Hedland in the infrastructure- and resource-rich Pilbara of WA

• Panorama Copper-Zinc Project – “shovel-ready”:

• Recent Optimisation Study demonstrates compelling project economics

• Large VMS mineralised system with outstanding exploration upside

• Whim Creek Project – “a fresh look at a valuable asset”:

• Extensive infrastructure, long production history, large resource base

• Outstanding exploration upside in a brownfields environment

• Reinvigorated exploration strategy has identified new priority targets – to be tested shortly

• Significant leverage both to exploration success and improving commodity prices

• Ongoing royalty stream from SX-EW operation at Whim Creek

• Board with strong project development, operating and corporate experience

A multi-pronged approach to unlocking the value of one of the largest undeveloped base metal portfolios in Australia

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Venturex Resources - Corporate Details

Capital Structure

Key Shareholders

ASX Code

Issued Shares

Market Capitalisation (at 0.5c) Cash and receivables

Experienced Board

Anthony Kiernan LLB

John Nitschke B Eng (Hons), MSc Anthony Reilly B Ec

Darren Stralow B Eng, GAICD, GCAF

VXR 1,746m $8.7m $0.950m

Non-Executive Chairman

Managing Director

Non-Executive Director

Non-Executive Director

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Two Advanced Copper-Zinc Projects in the Pilbara Region

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Total Mineral Resource: 23.6Mt at 1.3% Cu, 3.8% Zn, 0.3% Pb, 20.1g/t Ag 307,000t of contained copper plus 897,000t of contained zinc

• Established mining district

• World-class infrastructure including Ports, Road, Rail

• Proximity to Asian markets

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Salt Creek
Mons Cupri
Whim Creek
Evelyn
Sulphur Springs
Kangaroo Caves
Whim Creek Project
Production/Exploration
Panorama Project
 Copper  Lead  Zinc  Silver  Gold
“Shovel-ready” – Optimised
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DFS/Exploration
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Panorama Project – Ready for Development

• Greenfields copper-zinc project located 162km south of Port Hedland

• Highly successful Optimisation Study completed in November 2015 delivering significantly more robust and compelling financial outcomes

• Proposed development based on open pit/UG mine at Sulphur Springs and UG mine at Kangaroo Caves feeding1Mtpa Concentrator

• Potential to produce high-quality copper and zinc concentrates

• Underground project is shovel-ready with approved Mining Leases, environmental approval and Native Title agreements

• Environmental approval needs to be amended to reflect change to open pit

• Outstanding exploration potential in under-explored VMS district – large tenure package covering 27km of highly prospective stratigraphy along the Panorama Trend

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Strong foundation to advance towards financing and development.

Key focus is to advance the open pit to “shovel-ready status”

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Panorama Project – Optimisation Study Outcomes

Key Changes

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

• Kangaroo Caves Underground Mine included in mining inventory

• Reversion to conventional lined tailings dam

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Key Outcomes:

Simpler to mine and operate Significantly lower risk profile Increased mining inventory of 10.45Mt 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

• Payback in 2.1 years

• Pre-tax NPV10 real of $264M; IRR of 42%

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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Whim Creek Project – An Outstanding Growth Opportunity

• Large brownfields project located 130km from Port Hedland

• 18,500 hectare tenement package encompassing Mons Cupri, Whim Creek, Evelyn and Salt Creek copper-zinc-lead and precious metal deposits

• Scoping Study completed in 2010 by Snowden, with key outcomes including:

• Mining inventory sufficient to support a 9-year mine life at 600ktpa from a centrally located plant at Whim Creek

• Production of 7,800tpa of copper, 13,900tpa of zinc and 4,200tpa of lead

• Extensive infrastructure in place

• Offers both near-term production potential and outstanding exploration upside

• Minimal recent exploration activity due to corporate focus on Panorama Project for the past 3-4 years

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Whim Creek Project – A Significant Exploration Opportunity

• Large tenement package encompasses Whim Creek, Salt Creek and Liberty VMS basins

• All historical producers of copper

• Considered to provide the best opportunity for immediate exploration success:

• Resource extension – existing resources open

• Resource discovery – multiple partially explored horizons

• Comprehensive “back-to-basics” review of exploration potential underway

• Initial results have already generated multiple exploration opportunities

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Mons Cupri – Largest Resource at Whim Creek

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• Deposit contains large breccia-hosted copper zone and lateral shale-hosted high-grade massive sulphide copper, zinc and lead mineralisation

• Venturex has developed a significantly improved understanding of deposit geology and dimensions

• New geophysical tools like MMR can help target future drilling

Drilling and geophysical surveys to confirm ore body model and calibrate geophysics commencing first half of 2016

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Mons Cupri Repetitions – Breccia represents the Target Zone

2 km

• No serious exploration for 30 years

• 5km strike length and down-dip stratigraphy largely untested

North West Pit

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Ore body Model + New Tools + Fertile Target Zone = New Discoveries

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Panorama Project – Another Significant Exploration Opportunity

Panorama Project Geology Panorama Project includes:

• Sulphur Springs and Kangaroo Caves Resources

• Six advanced exploration targets with ore grade intersections

• 27 km of prospective stratigraphy along the Panorama trend

• Recent work includes developing geological model for deposits

• Identifying controls to mineralisation

• Refining geophysical techniques to aid discovery

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Sulphur Springs – Exploration Potential along Strike and at Depth

• Only 6% of historical holes drilled were surveyed with downhole geophysics

• Re-entering old holes to conduct DHEM surveys offers a cheap but effective exploration method – provided that they are still open

• Only four holes have been drilled below 300m vertical depth

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Untested
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Whim Creek Heap Leach – Current Production Providing Cash-flow

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• Current heap leach operated by Blackrock Metals

• Access agreement to residual dumps

• Experienced heap leach operator

• Net Profit Share $473,000 in CY 2915

• Currently Expires December 2016

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Our focus is on extending and expanding

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Pilbara Copper-Zinc Projects – Next Steps

Panorama Project

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

• Refinement of the project concept outlined in the optimisation study  Referral to determine the level of assessment for amended approval – mid-2016  Development and submission of documentation required for assessment

Whim Creek Project

• Extension to existing Resources or green field exploration

• Develop conceptual targets and tools:

• Confirm ore body model by drilling

• Demonstrate effectiveness of modern geophysical tools

• Further drill testing as funding permits

Blackrock Metals

• The wildcard that could provide upside in immediate future

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Venturex Resources – Key Investment Takeaways

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............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	10.6	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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