DEVELOP GLOBAL LIMITED — Capital/Financing Update 2009

Oct 29, 2009

ASX Announcement Code: VXR

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29 October 2009

Share Sale Agreement Executed

Further to announcements made on 20 and 21 August 2009, Venturex Resources Limited (Venturex) is pleased to advise that it has executed the share sale agreement for the acquisition of all the issued capital in Straits (Whim Creek) Pty Ltd from Straits Resources Limited. The acquisition is still subject to a number of conditions precedent, one of which is the approval of Shareholders at the Annual General Meeting to be held in late November 2009. Settlement is expected to occur on 31 January 2010, or such other date agreed between the parties.

The assets to be acquired under this agreement include:

• Whim Creek and Salt Creek tenements and associated resources and reserves;

For further details:

• Crushing circuit;

Dr Tim Sugden Managing Director T: +61 8 6389 7403  Autogenous mill (dismantled); M: +61 407 085 032 E: tim.sugden@venturexresources.com  Accommodation Village (capacity 139 persons);

Board Allan Trench Non-Executive Chairman Tim Sugden Managing Director Michael Mulroney Non-Executive Director Anthony Reilly Executive Director Liza Carpene Company Secretary

 Whim Creek Hotel;  Vehicles; and  Mine site buildings, offices and various other infrastructure. The availability of this infrastructure will provide substantial savings in the event that Venturex proceeds with construction of a central sulphide processing plant to treat copper‐ zinc‐lead‐silver‐gold resources located at Whim Creek and Salt Creek, as well as Venturex's emerging discovery at Liberty‐Indee. Venturex views this acquisition as a significant step in the consolidation of VMS base metal deposits in the Western Pilbara and is now well positioned to deliver greater value to Shareholders through exposure to potential base metals production in Australia as well as the development of its advanced gold projects in Brazil.

Contact Details

Registered Office: Suite 3, Level 1 127 Cambridge Street West Leederville WA 6007 T: +61 8 6389 7400 F: +61 8 9463 7836

TIM SUGDEN Managing Director

E: admin@venturexresources.com W: www.venturexresources.com

ABN: 28 122 180 205

The information in this report, as it relates to Exploration Results, is based on information compiled and/or reviewed by Dr Tim Sugden PhD, BSc (Hons), who is a Member of the Australasian Institute of Mining and Metallurgy. Dr Sugden is Managing Director of Venturex Resources Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Dr Sugden consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.