DEVELOP GLOBAL LIMITED — Regulatory Filings 2013

Jun 10, 2013

==> picture [256 x 86] intentionally omitted <==

==> picture [151 x 741] intentionally omitted <==

----- Start of picture text -----

ASX Announcement
ASX Code: VXR
Released: 11 June 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
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
----- End of picture text -----

NON-EXECUTIVE DIRECTOR RESIGNATIONS

Venturex Resources Limited (ASX: VXR) (Venturex) wishes to advise that Mr James (Jim) Mellon has resigned as a Non-Executive Director of Venturex with effect from 10 June 2013 and that Mr Jamie Gibson has accordingly resigned as the Alternate Director of James Mellon on the Board of Venturex with effect from 10 June 2013.

Mr Mellon and Mr Gibson are Non-Executive Co-Chairman and Executive Director and Chief Executive Officer of Hong Kong listed Regent Pacific Group Limited (Regent), Venturex’s largest shareholder.

Following Mr Mellon’s appointment on 5 February 2013, Regent anticipated equity accounting its Venturex investment going forward in Regent’s consolidated financial statements. Subsequently, after careful consideration with its external auditors, Regent understands that the differing financial years and interim reporting periods of each company would result in Regent being in the position of releasing potentially price sensitive information ahead of Venturex releasing its own financial reports. Consequently, Mr Mellon has resigned as a Non-Executive Director and Mr Gibson as Alternate Director.

In tendering his resignation, Mr Mellon wished to make it clear that this decision was not in any way related to Regent Pacific's ongoing support of Venturex and its Board.

Regent Pacific participated in the Company’s recent Entitlements Issue and is Venturex’s largest Shareholder, holding 33.47% of the issued capital.

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 Liberty‐Indee. The Company is committed to a strategy of consolidating VMS projects in the Western Pilbara and developing a centralised processing hub at Sulphur Springs. Venturex is also exploring for gold in Brazil through its wholly owned subsidiary CMG Mineração Ltda.