DEVELOP GLOBAL LIMITED — Capital/Financing Update 2010

Feb 9, 2010

ASX Announcement Code: VXR

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10 February 2010 Execution of $4 Million Convertible Loan Facilities with Leading Resource Investors, Macquarie Bank Limited and Argonaut Equity Partners Pty Ltd

Venturex Resources Limited (Venturex) advises that it has executed agreements with leading resource investment houses, Macquarie Bank Limited (MBL) and Argonaut Equity Partners Pty Ltd (AEP) for Convertible Loan Facilities incorporating the following terms and conditions:

Total value of facilities: A$4,000,000 [MBL A$3,000,000; AEP A$1,000,000]

• Standard commercial rates and fees

• Final maturity date: on or before 31 January 2011

• Prepayment: the facilities can be prepaid without penalty at the end of any quarterly interest period

For further details:

Dr Tim Sugden Managing Director T: +61 8 6389 7403 M: +61 407 085 032 E: tim.sugden@venturexresources.com

• Security for the facilities will be by way of a fixed and floating charge over the assets of Straits (Whim Creek) Pty Ltd (SWC)

• Options Issue: in consideration of providing the facilities, Venturex will issue 31,578,947 unlisted options to MBL and 10,526,316 unlisted options to AEP (Options)

• Exercise price of the Options: 9.5 cents per share

• Expiry date: 31 January 2012

Board

Allan Trench Non-Executive Chairman

Tim Sugden Managing Director

Michael Mulroney Non-Executive Director

Anthony Reilly Executive Director

Liza Carpene Company Secretary

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

• Venturex to seek shareholder approval in accordance with Part 2J.3 of the Corporations Act for the issue of shares in the event that the options are exercised

The Company will hold a General Meeting to seek relevant Shareholder approval within 45 days from the date of these agreements.

The funds will support a drill‐out and mining study at the Whim Creek Project, focused on high‐grade copper‐zinc resources at Whim Creek, Mons Cupri, Salt Creek and Liberty‐Indee, plus a Performance Bond Facility with MBL to cover existing environmental bonds of $1.52 million over SWC tenements.

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TIM SUGDEN Managing Director

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

ABN: 28 122 180 205

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