DEVELOP GLOBAL LIMITED — Capital/Financing Update 2013

Dec 11, 2013

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ASX Announcement
ASX Code: VXR
Released: 12 Dec 2013
For further details
Michael Mulroney
Managing Director
T: +61 8 6389 7400
michael.mulroney@venturexresources.com
Board
Tony Kiernan
Chairman
Michael Mulroney
Managing Director
Ray Parry
Non-Executive Director
John Nitschke
Non-Executive Director
Trevor Hart
Company Secretary
Contact Details
Registered Office
Level 2
91 Havelock Street
West Perth WA 6005
T: +61 8 6389 7400
F: +61 8 9463 7836
admin@venturexresources.com
www.venturexresources.com
ABN: 28 122 180 205
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VENTUREX AWARDED $150,000 GRANT FOR MONS CUPRI DRILLING

• Venturex has received a $150,000 co-funded drilling grant under the Western Australian Government Exploration Incentive Scheme (EIS)

• Funding to be used to drill new “blind” targets in the Southern Hills prospect at Mons Cupri

• Drilling expected to commence in second quarter 2014 and be completed by mid-2014

Venturex Resources Limited (“Venturex” or “the Company”)(ASX: VXR) is pleased to announce it has been awarded a $150,000 drilling grant under the Western Australian Government co-funded drilling scheme to support a drilling program at the Whim Creek Project in the West Pilbara region of Western Australia (Figure 1).

The funding is allocated through the highly successful EIS, which is a State Government initiative supported by the Royalties for Regions program.

Venturex Managing Director Michael Mulroney said: “ We are very pleased that the Southern Hills program at Mons Cupri has been awarded the cofunding grant from the State Government.

“This extension of the exploration program to assess new multi-discipline targets in covered areas is a first step in our long term plan to unlock the exploration potential for new deposits within the broader Whim Creek area.”

The co-funding will be used in a 1,550 metre diamond drilling program targeting the Southern Hills area, located south of the Mons Cupri copperlead-zinc sulphide deposit. The drilling program will target an untested zone of combined ASTER and geochemical anomalism around a complex synvolcanic fault system.

Previous diamond drilling in the adjacent Mons Cupri South West prospect in 2011 intersected an extensive zone of typical footwall alteration within the target Mons Cupri sequence with one drill hole (VWD013) intersecting fragments of preserved zinc-rich massive sulphide mineralisation (refer to ASX announcement dated 7 September 2011). This extension of the Mons Cupri sequence beneath cover rocks represents a high priority greenfield exploration target adjacent to known mineralisation (Figure 2).

The drilling program is anticipated to commence in the second quarter of 2014 following the receipt of the pre-requisite heritage and site approvals.

The Mons Cupri funding comes after the Company secured a $149,600 cofunded drilling grant under the EIS earlier this year for drilling of the Midway prospect located approximately 4 kilometres southeast of the Sulphur Springs copper-zinc deposit.

MICHAEL MULRONEY Managing Director

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For further information, please contact:

Michael Mulroney / Trevor Hart – Venturex Resources Limited on (08) 6389 7400 Tony Dawe – Professional Public Relations on 0405 989 743 / (08) 9388 0944

About Venturex Resources Limited

Venturex Resources Limited (ASX: VXR) is an exploration and development company with a significant portfolio of VMS projects in the Western Pilbara. Venturex owns or controls significant resources of copper, zinc, lead, silver and gold at Sulphur Springs, Kangaroo Caves, Whim Creek, Mons Cupri, Salt Creek and Evelyn. The Company is committed to a strategy of developing a centralised copper-zinc production hub at Sulphur Springs through consolidating VMS projects in the Western Pilbara and. Venturex is also exploring for gold in Brazil through its wholly owned subsidiary CMG Mineração Ltda.

Competency Statements

The information in this report that relates to Exploration Results is based on information compiled or reviewed by Michael Mulroney and Steven Wood and fairly represents this information. Mr Mulroney and Mr Wood, who are Members of the Australasian Institute of Mining and Metallurgy, 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 2012 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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Figure 1 – Southern Hills Prospect Location

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Figure 2 – Interpreted exploration targets, Whim Creek region

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