DEVELOP GLOBAL LIMITED — Regulatory Filings 2010

Jan 24, 2010

ASX Announcement Code: VXR

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25 January 2010 Venturex to Target High‐Grade Copper‐Zinc Resources at Whim Creek

HIGHLIGHTS

Following review of Whim Creek geological data, Venturex plans to develop a high grade Volcanic Hosted Massive Sulphide (VMS) resource. Initial work will focus on re‐evaluation of high grade zones within known ore systems. A 5,000m RC and diamond drilling program, expected to start in March 2010, will target extensions of high grade zones.

Key targets include:

For further details:

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

•  Mons Cupri – a sheet of massive and stringer sulphide with drill intersections of up to 23m @ 3.7% Cu[#]

•  Mons Cupri Northwest – a zone of massive sulphide with a drill intersection of 5.7m @ 7.4% Zn, 2.4% Pb and 1.5% Cu

•  Whim Creek – massive and stringer sulphides with intersections of up to 19m @ 3.8% Cu

•  Salt Creek – high grade lenses of massive sulphide with numerous high grade intersections, including 20m @ 16.8% Zn, 6.9% Pb and 180g/t Ag

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

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

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Volcanic‐Hosted Massive Sulphide Deposits in the Whim Creek Region

ABN: 28 122 180 205

All drill intersections stated in this announcement, except those relating to Liberty‐Indee, are extracted from Straits (Whim Creek) Pty Ltd databases. With the exception of Mons Cupri Northwest they are within existing JORC resources (refer to Venturex announcement of 25 November 2009). Refer to attached table for details.

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Venturex to Target High‐Grade Copper‐Zinc Resources at Whim Creek

Released: 25 January 2010

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Priority Resource Development Targets

Mons Cupri

This is the largest known sulphide resource in the Whim Creek mining camp. Within the mineralised envelope there are a number of higher grade massive sulphides and stinger sulphide zones that have potential to provide substantial zones of high grade ore.

Higher grade zones generally form contiguous sheets of massive zinc‐lead sulphide, with underlying zones of “stringer” copper sulphide.

A continuous zone of high grade sulphide located down‐dip and to the west of the Mons Cupri oxide open pit provides an immediate opportunity for a near‐surface high grade resource, amenable to open pit mining.

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Mons Cupri Northwest

Significant zinc, lead and copper mineralisation (including WMD060: 5.7m @ 7.4% Zn, 2.4% Pb and 1.4% Cu) has been intersected at relatively shallow depths directly west of the Mons Cupri Northwest pit. These zones are outside existing resource estimates. Further exploration will target down dip extensions of zinc‐lead mineralisation and footwall zones of stringer copper mineralisation.

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Venturex to Target High‐Grade Copper‐Zinc Resources at Whim Creek

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Released: 25 January 2010
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Whim Creek

Copper‐dominant massive sulphide mineralisation extends below and to the south of the Whim Creek oxide pit. Stringer copper sulphide mineralisation also occurs in the footwall and is largely untested. The Company will re‐ evaluate high grade sulphide mineralisation and design a drill program to confirm and extend known resources.

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Venturex to Target High‐Grade Copper‐Zinc Resources at Whim Creek

Released: 25 January 2010

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Salt Creek

Salt Creek is the largest known VMS deposit in the Salt Creek Belt, approximately 17km north of Whim Creek. It consists of a pair of south‐east plunging ribbon‐like shoots of zinc and copper‐zinc massive sulphides. As previously reported (ASX announcement 20 August 2009), total JORC sulphide resources at Salt Creek amount to 1.83 million tonnes @ 1.4% Cu, 3.8% Zn and 1.2% Pb. This includes a higher grade zinc‐lead component of 846,000 tonnes @ 7.7% Zn, 2.4% Pb, 90g/t Ag and a higher grade copper component of 1.02 million tonnes @ 2.0%. As indicated in the Salt Creek cross‐section, zones of high grade mineralisation are well developed. Venturex intends to remodel the resource using a higher grade envelope, and identify lateral and depth extensions of favourable shoots.

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Liberty‐Indee

As reported on 25 November 2009, Venturex has completed an initial JORC resource estimate at the Evelyn Prospect, Liberty‐ Indee, of 708,000t @ 1.8% copper, 3.6% Zn, 35g/t Ag and 0.8g/t Au (zero cut off grade). Considerable potential exists to extend the resource at depth and along strike.

Long‐section of Evelyn, Liberty‐Indee, with extensional drill target

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Venturex to Target High‐Grade Copper‐Zinc Resources at Whim Creek

Released: 25 January 2010

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Other Targets

Venturex is confident that the proposed drilling programs at the high priority targets will quickly add to existing resources. Additional drill‐ready VMS targets are clearly apparent at the Whim Creek Project. Venturex is currently designing additional drill programs at Balla Balla (targeting a maiden zinc resource), and follow‐up drilling at Evelyn and Quarmby (Liberty‐Indee). Future announcements will detail specific work plans at these prospects.

TIM SUGDEN Managing Director

COMPETENCY STATEMENTS

WHIM CREEK, MONS CUPRI and SALT CREEK

The information in this report that relates to Mineral Resources at Whim Creek, Mons Cupri and Salt Creek is based on information compiled by Peter Storey, who is a member of the Australasian Institute of Mining and Metallurgy. Mr Storey is a full‐time employee of Straits Resources Limited and has sufficient experience relevant to the style of mineralisation, 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 “Australasian Code for Reporting of Mineral Resources and Ore Reserves”. Mr Storey consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.

LIBERTY‐INDEE

The information in this report that relates to Mineral Resources at Liberty‐Indee is based on information compiled by Dr Tim Sugden BSc, PhD. and Mr Ian Glacken BSc, MSc (Mining Geology), MSc (Geostatistics), Member and Fellow respectively, of the Australasian Institute of Mining and Metallurgy. Dr Sugden is a full‐time employee of Venturex Resources Limited and Mr Glacken is a full time employee of Optiro Pty Ltd. Both Dr Sugden and Mr Glacken have sufficient experience relevant to the style of mineralisation, type of deposit under consideration and to the activity which they are undertaking to qualify a Competent Persons as defined in the 2004 Edition of the “Australasian Code for Reporting of Mineral Resources and Ore Reserves”. Dr Sugden and Mr Glacken consent to the inclusion in the report of the matters based on their information in the form and context in which it appears.

EXPLORATION

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.

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Venturex to Target High‐Grade Copper‐Zinc Resources at Whim Creek

Released: 25 January 2010

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Hole ID	Hole Type	Max Depth	MGA East	MGA North	MGA RL	Collar Dip	Collar MGA Az
67‐WCP‐6	RC	68.28	586512.9	7694613	53.75	‐90	0
DDH18	DD	106.06	586531.3	7694623	54	‐60	226
DH10	DD	202.69	583654.7	7690767	71.02	‐45	50
DH105	DD	385.88	583789.1	7690830	90.83	‐90	360
DH126	DD	168.55	583558.8	7691091	73.76	‐76	14
DH18A	DD	208.48	583505.6	7691177	64.92	‐90	0
DH99	DD	282.24	583859.5	7690830	95.71	‐90	360
MC157	DD	189.6	583756.2	7690837	81.38	‐90	360
MC94RC1	RC	60	583895.1	7690840	80.6	‐90	0
MSD006	DD	69.5	583897.5	7690838	80.407	‐90	0
NUD0011	DD	280.65	573491.1	7704559	14.542	‐75	330
NUD0016	DD	124.7	573452.5	7704628	10.145	‐60	330
NUD0021	DD	300	573374.7	7704769	9.776	‐60	150
NUD0009	DD	216.9	573476.6	7704585	11.451	‐60	330
WMC014	RC	100	583906.6	7690820	79.292	‐69.7	5
WMC033	RC_DT	339.7	583470.5	7690970	69.728	‐67	35
WMD041	DD	219.8	583859.2	7690792	90.775	‐57	328
WMD053	DD	201.3	583824.6	7690885	109.045	‐61.2	179.5
WMD059	DD	162.4	583520.3	7691125	69	‐65	60
WMD060	DD	137.5	583520.3	7691125	69	‐85	60
WSC010	RC	123	573447	7704602	10.188	‐60	330
WSD100	DD	327.4	573481.4	7704564	13.824	‐70	330
WWC023	RC	117	586513.8	7694619	53.249	‐60	180
WWC077	RC	90	586516.5	7694645	52.399	‐60	180
WWC078	RC	66	586518.9	7694606	54.242	‐60	180

Coordinates of drill holes referred to in this announcement.

[RC = Reverse Circulation; DD = Diamond; DT = Diamond Tail]

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