DEVELOP GLOBAL LIMITED — Regulatory Filings 2008

Sep 15, 2008

ASX ANNOUNCEMENT 16 S eptember 2008 ASX Code: JUT

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EVEL Y N EXPLORATION UPDATE

Jutt Holdings Limited (Ju t t) has received assay results for the last round of RC drilling of VMS-style mineralisation at the Evelyn Prospect, Libe r ty-Indee Project, located in the Pilbara region of Western Australia. Diamond dri l ling results from the central copper-zinc-le a d–silver zone are still pending.

Significant results are su m marised in the following table:

Hole NoEastingNorthingAzimuth	Dip	From-To (m)	Interval(m)	Cu%	Zn%	Pb%	Ag ppm
JER0184901102011JER0244897102211JER0254880102421202020	-60	53-55	2	0.34	2.75	0.37	15
	-60	66-68	2	0.23	2.75	0.59	12.5
	-60	90-96	6	0.265	5.21	0.435	10

The drilling has confirme d the presence of significant zinc min e ralisation at the southern end of the Evel y n workings, but drilling of conductors identified to the north of Evelyn did not i n tersect ore-grade mineralisation. A number of holes did not reach the target h o rizon.

Further drilling will be required to test deeper targets at Evel y n South; a one kilometre long corridor s o uth of Evelyn; and numerous gossans located along - 12km of prospective VMS host stratigraphy to the north and nor t heast of Evelyn.

BACKGROUND

The Liberty-Indee Projec t is located 50km south of Whim Cre e k in the Pilbara region of Western Austr a lia. Jutt has a 70% interest in the Project and has announced its intention t o acquire an additional 20%.

A regional mapping program has identified that the minerali s ation located at Evelyn is part of a bi-modal volcanic sequence similar in ch a racter to many classic volcanic-associate d massive sulphide (VMS) settings. The prospective horizon has now been tra c ed over 12 strike kilometres with ma p ped gossans and VTEM anomalies along its entire length.

Jutt has now completed its third phase of RC and diamond d rilling, aimed at extending the existing mi n eralisation at Evelyn and providing an initial test of the modelled EM conductors.

RESULTS OF RECE N T DRILLING PROGRAM

At Evelyn, a total of 16 RC and 4 RC/diamond drill holes were drilled (3,215 metres) over a strike len g th of 700 metres covering part of a b r oad series of EM conductors.

ASX Announcement: Evelyn Exploration Update Page 2

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In the northern zone, broad zones of sulphide mineralisation were intersected in the target zones, but copper and zinc grades were below expectations. A north plunging lens of high grade massive sulphide mineralisation is interpreted to have been offset by an east-west trending fault zone.

Significant zinc grades (including 6m @ 5.2% Zn) were intersected below old workings at Evelyn South. This zone is interpreted to be part of a broad northplunging lens of mineralisation and is open below a depth of approximately 70 metres, and coincides with the top of a modelled geophysical conductor.

FUTURE WORK

The next phase of exploration work at Liberty-Indee will focus on:

• RC and diamond drilling of the Evelyn system, centred on the southern section, below a depth of 70 metres.

• Reconnaissance drill testing of a 1,000 metre structural corridor directly south of Evelyn, covered by thin alluvium.

• Drill testing of several geochemically anomalous gossans within the VMS-host stratigraphy to the north and northeast of Evelyn. Several of these gossans are co-incident with VTEM (conductive) anomalies.

TIM SUGDEN Managing Director

Competent Person’s Statement

The information in this announcement that relates to exploration results is based on information compiled by Jutt Holdings Limited and is based on information provided by Mr Cyril Leslie Geach BSc (Hons-Geology) who is a member of the Australian Institute of Geoscientists. Mr Geach has sufficient experience which is relevant to the style of mineralisation and 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 Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Geach is an Executive Officer of Jutt Holdings Limited and consents to the inclusion in the announcement of the matters based on his information in the form and content in which it appears.

For further information contact:

Charles Morgan Chairman M: 0412 152 534 E: cmorgan@seaspin.com.au

Tim Sugden Managing Director M: 0407 085 032 E: tim.sugden@juttholdings.com

Jutt Holdings Limited ABN: 28 122 180 205 T: +61 8 6424 9188 www.juttholdings.com admin@juttholdings.com