DEVELOP GLOBAL LIMITED — Regulatory Filings 2012

Mar 28, 2012

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ENCOURAGING DRILL RESULTS FROM WHIM CREEK & SULPHUR SPRINGS

ASX Announcement ASX Code: VXR Released: 29 March 2012

Highlights

• Mons Cupri South West drilling results include 0.6m @ 0.3% Cu, 7.3% Zn, 5.0g/t Ag and 0.07g/t Au

• Whim Creek horizon intersected at shallow depth at Mons Cupri South West

• Drilling at Bledisloe prospect near Sulphur Springs intersects 0.7m @ 5.6% Cu, 5.0g/t Ag

Venturex Resources Ltd (ASX Code: VXR) (“the Company”) is pleased to report encouraging results from recent exploration drilling undertaken at both the Whim Creek and Sulphur Springs Project areas.

WHIM CREEK PROJECT

Mons Cupri South West

The Company has now received all assays from the initial exploration drilling program completed last quarter at the Mons Cupri South West prospect, located approximately one kilometre south west of the existing Mons Cupri Copper-Zinc deposit.

A total of 11 RC/diamond holes (4,201.4 metres) tested conceptual geological/geophysical anomalies within the target Mons Cupri horizon.

As previously reported, the broad-spaced drilling intersected a new intense alteration system with areas of disseminated sulphide mineralisation that generally increased in intensity to the south, suggesting the presence of a second mineralising centre in this direction.

For further details Michael Mulroney Managing Director T: +61 8 6389 7400 M: +61 412 443 806 michael.mulroney@venturexresources.com

Board

Anthony Kiernan Chairman

Michael Mulroney Managing Director

Allan Trench Non-Executive Director

John Nitschke Non-Executive Director

Anthony Reilly Executive Director

Liza Carpene Company Secretary

Significant results include:

• VWD004 intersected 23 metres (from 170.4 metres) of strong chlorite-sericite-pyrite alteration, typical of the nearby Mons Cupri feeder system which included:

• 1m @ 1.09% Zn, 0.38% Pb and 3.0g/t Ag from 194.0 metres.

• VWD011 intersected a broad zone of strong chlorite-sericite alteration from 271.0 metres with the following results:

• 43.4m @ 0.40% Zn, 0.10% Pb and 3.0g/t Ag from 271.0 metres including 8.9m @ 0.93% Zn, 0.29% Pb and 3.8g/t Ag

in the equivalent stratigraphic position to the Mons Cupri deposit.

• The southernmost drill hole, VWD013, also intersected a broad alteration zone containing:

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 admin@venturexresources.com www.venturexresources.com

ABN: 28 122 180 205

• 2.5m @ 0.07% Cu, 2.18% Zn, 0.01% Pb in a stratigraphic position equivalent to the Mons Cupri deposit which included a high grade zone with preserved massive sulphide fragments grading;

0.6m @ 0.28% Cu, 7.26% Zn, 0.01% Pb, 5g/t Ag and 0.07g/t Au

• In an exciting development, the RC pre-collar for drill hole VWD001 intersected:

• 2.0m @ 0.71% Cu, 0.73% Zn, 0.99% Pb, 60.0g/t Ag

from 39 metres representing the Whim Creek deposit stratigraphic horizon within the host Rushall Slate. This is believed to be the first mineralised intersection of the Whim Creek horizon within the Mons Cupri exploration area, opening up a second important target for future exploration.

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Figure 1: Plan of Mons Cupri South West Exploration Area

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Figure 2: Cross Section through Mons Cupri to South West Exploration Area

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Sulphur Springs

Bledisloe

At Sulphur Springs, a diamond drill hole (BLD004) was drilled at the Bledisloe target, located approximately 500 metres along strike to the west of the main Sulphur Springs deposit.

Previous limited drilling has intersected stringer-style copper mineralisation (SSD050: 16.9m @ 0.47% Cu) and minor zinc mineralisation (BLD001: 4.7m @ 3.7% Zn) within the target horizon.

• Drill hole BLD004, located 50 metres west of SSD050, intersected a 14.6m zone of stringer– style copper mineralisation from 453m grading 0.47% Cu including:

• 0.7m @ 5.6% Cu and 5.0g/t Ag from 453m

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Figure 3: Bledisloe Prospect Long Section

This intersection extends the zone of footwall stringer style mineralisation at Bledisloe with the small higher grade zones providing further encouragement.

Commentary

Managing Director, Michael Mulroney said, “ The intersection of highly anomalous base metal values within the new alteration system in Mons Cupri South West area is extremely encouraging. The extent and orientation of the new system suggests that we may be seeing another mineralised zone within the Mons Cupri sub-basin. ”

“ The shallow intersection of significant sulphide mineralisation equivalent to the Whim Creek deposit has highlighted the broader potential of the Whim Creek district to host clusters of ore deposits on several stratigraphic levels.”

“It’s still early days in exploring the potential of the Bledisloe target at Sulphur Springs but the presence of high copper grades suggests we’re moving in the right direction.”

Michael Mulroney Managing Director

For further information, please contact:

Mike Mulroney / Liza Carpene – Venturex Resources Limited on (08) 6389 7400 Tony Dawe – Professional Public Relations on 0405 989 743 / (08) 9388 0944

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About Venturex Resources Limited

Venturex Resources Limited (ASX: VXR) is an exploration and development company with a portfolio of VMS projects in the Western Pilbara. Venturex owns or controls the Whim Creek Copper Mine and all associated mining leases and exploration tenements including copper, zinc, lead, silver and gold ‐ resources at Whim Creek, Mons Cupri, Salt Creek, Liberty Indee and Sulphur Springs. Other assets include the Whim Creek Hotel, an accommodation village, crushing circuit and various mining infrastructure. The Company is committed to a strategy of consolidating VMS projects in the Western Pilbara and developing Whim Creek as a centralised processing hub. Venturex is also exploring for gold in Brazil through its wholly owned subsidiary CMG Mineração Ltda.

Competency Statement

The information in this report that relates to Exploration Results, Mineral Resources and Ore Reserves is based on information compiled or reviewed by Michael Mulroney BAppSc(Geol), MBA, and Mr Steven Wood who are Members of the Australasian Institute of Mining and Metallurgy. Mr Mulroney and Mr Wood are full time employees of Venturex Resources Limited and have sufficient experience relevant to the style of mineralisation, type of deposit under consideration and to the activity being undertaking to qualify as Competent Persons as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Mulroney and Mr Wood consent to the inclusion in the report of the matters based on their information in the form and context in which it appears.

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TABLE 1: DRILL HOLE LOCATION INFORMATION

				Depth (m)
Hole ID	Easting	Northing	RL		Angle	Azimuth
BLD004	728334	7690164	259	481	-55	225
VWD001	584200	7690001	61	370	-60	360
VWD002	584199	7689803	67	361	-60	360
VWD003	584451	7689863	63	340	-60	360
VWD004	583420	7690086	62	322	-70	360
VWD005	583641	7689927	66	343	-70	360
VWD010	583273	7690314	63	320	-70	360
VWD011	583407	7689771	63	459	-70	360
VWD012	583184	7689949	58	421	-70	360
VWD013	583451	7689480	68	558	-70	360
VWD014	583575	7690115	66	415	-60	360

TABLE 2: SIGNIFICANT DRILL HOLE ASSAY RESULTS

				Cu %	Zn %	Pb %	Ag g/t	Au g/t	Au g/t
Hole ID	From	To	Metres							Comments
WHIM CREEK – MONS CUPRI SOUTH
VWD001	39.0	41.0	2.0	0.71	0.73	0.99	60.0	0.01	Whim Creek horizon
VWD002				NSA
VWD003				NSA
VWD004	194.0	195.0	1.0	0.02	1.09	0.38	3.0	0.03	Mons Cupri horizon
VWD005	175.6	177.0	1.4	0.25	1.86	3.46	47.0	0.01	Hanging wallquartz vein
VWD006				NSA
VWD010	207.4	208.5	1.1	0.60	0.05	0.04	10.0	0.13	Mons Cupri footwall
VWD011	271.0	314.4	43.4	0.03	0.40	0.12	3.0	0.01	Mons Cupri horizon
Incl.	291.0	299.0	8.0	0.04	0.93	0.29	3.8	0.02
Incl.	312.0	314.4	2.4	0.01	0.96	0.31	5.0	0.04
VWD012				NSA
VWD013	280.7	283.3	1.6	0.09	1.09	1.86	24.9	0.01	Hanging wallquartz vein
And	460.9	461.4	0.5	0.18	1.39	0.54	9.0	0.07	Mons Cupri horizon
And	470.0	472.5	2.5	0.07	2.18	0.01	1.6	0.02	Mons Cupri horizon
Incl.	470.95	471.55	0.6	0.23	7.26	0.01	5.0	0.07	Semi massive sulphide
VWD0014				NSA
SULPHUR SPRINGS – BLEDISLOE
BLD004	453.0	467.0	14.0	0.40	0.3	-	-	-	Footwall zone
Incl.	453.0	453.7	0.7	5.66	0.07	0.01	5.0	0.02

TABLE 3: PILBARA COPPER-ZINC PROJECT – RESOURCE STATEMENT AS AT 30 SEPTEMBER 2011

Location JORC Classification Tonnes Cu % Zn % Pb % Ag g/t Au g/t CuEQ % Measured 1,273,459 1.5 1.7 0.8 41.0 0.3 2.6 Indicated 5,604,614 1.1 2.5 0.7 24.6 0.2 2.2 Inferred 361,050 1.7 1.1 0.1 14.5 0.3 2.2 ~~Total~~ 7,239,123 1.2 2.3 0.7 27.0 0.2 2.2 All Whim Creek/ Salt Creek	JORC Classification	Tonnes	Cu %	Zn %	Pb %	Ag g/t	Au g/t	CuEQ %
Sulphur Springs Measured 4,259,675 1.7 3.4 0.2 18.2 2.5 Indicated 9,620,989 1.3 3.8 0.2 18.2 2.2 Inferred 5,153,876 0.7 2.0 0.2 13.9 1.3 ~~Total~~ 19,034,540 1.2 3.2 0.2 17.0 2.0
PROJECT Measured 5,533,134 1.6 3.0 0.3 23.4 0.1 2.6 TOTAL Indicated 15,225,603 1.2 3.3 0.4 20.6 0.1 2.2 Inferred 5,514,926 0.8 1.9 0.2 13.9 0.0 1.3 ~~Total~~ 26,273,663 1.2 3.0 0.3 19.8 0.1 2.1
Total Contained Metals(tonnes/oz)			Copper Zinc Lead Silver Gold CuEQ t
			317,922 778,161 85,485 16,705,212 48,187 547,720

Mons Cupri/Whim Creek/Liberty-Indee: CuEQ = Cu + (Zn X 0.1947) + (Ag X 0.01104) + (Au X 0.483) Salt Creek: CuEQ = Cu + (Zn X 0.28) + (Pb X 0.26) + (Ag X 0.008) + (Au X 0.513) Sulphur Springs: CuEQ = Cu + (Zn X 0.2017) + (Ag X 0.01076)

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