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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WA GOVERNMENT CO-FUNDED DRILLING COMMENCES AT MIDWAY

• Drilling program commenced at Midway Prospect in the Sulphur Springs region

• Program co-funded by $149,600 grant under the WA Government’s Exploration Incentive Scheme

• Drilling expected to be completed by the end of January 2014

Venturex Resources Limited (“Venturex or the Company”) (ASX: VXR) is pleased to advise the commencement of a diamond drilling program at the Midway prospect in the Pilbara region of Western Australia. The Midway prospect is located approximately 4 kilometres southeast of the Sulphur Springs copper-zinc deposit (Figure 1).

The 1,350 metre diamond drilling program will target an untested anomaly derived from a high-resolution HyMapper multispectral survey conducted by the CSIRO in 2002. Analysis of the survey results indicate that the Midway area has a similar alteration signature to the adjacent Sulphur Springs and Kangaroo Caves massive sulphide copper-zinc deposits and represents a high priority greenfield exploration target along strike from known mineralisation (Figure 2).

The drilling program is co-funded through the successful EIS which is State Government initiative supported by Royalties for Regions.

Venturex Managing Director Michael Mulroney said: “ We are very pleased that the Midway program was selected earlier this year to receive the cofunding grant from the State Government as part of the Company’s strategy to realise the exploration potential of the broader Panorama region.”

“It is particularly exciting given the prospect’s close proximity to both the Sulphur Springs and Kangaroo Caves copper-zinc deposits and this program represents the first exploration drilling undertaken between the two known massive sulphide deposits.”

The drilling is expected to be completed in January 2014 (subject to weather conditions) with results available shortly thereafter.

MICHAEL MULRONEY Managing Director

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 and discovering 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 – Midway Prospect Location

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SULPHUR
SPRINGS
KANGAROO MIDWAY
CAVES
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Figure 2 – Interpreted airborne HyMapper multispectral plan highlighting potential discharge zones in red

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