DEVELOP GLOBAL LIMITED — Regulatory Filings 2008

Sep 15, 2008

ASX ANNOUNCEMENT 16 S eptember 2008 ASX Code: JUT

==> picture [191 x 73] intentionally omitted <==

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 No	Easting	Northing	Azim uth	Dip	From- To (m)	Interval (m)	Cu%	Zn%	Pb%	Ag ppm
JER018	4901	10201	1 20	-60	53-55	2	0.34	2.75	0.37	15
JER024	4897	10221	1 20	-60	66-68	2	0.23	2.75	0.59	12.5
JER025	4880	10242	1 20	-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

==> picture [48 x 13] intentionally omitted <==

==> picture [48 x 14] intentionally omitted <==

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

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