DEVELOP GLOBAL LIMITED — Regulatory Filings 2015

Nov 1, 2015

==> picture [596 x 87] intentionally omitted <==

==> picture [152 x 742] intentionally omitted <==

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

ASX Announcement
ASX Code: VXR
Released: 2 November
2015
For further details
John Nitschke
Managing Director
T: +61 8 6389 7400
admin@venturexresources.com
Board
Tony Kiernan
Chairman
John Nitschke
Managing Director
Anthony Reilly
Non-Executive Director
Darren Stralow
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 -----

VENTUREX RECEIVES NET PROFIT INTEREST PAYMENT FROM WHIM CREEK

Funds contribute towards Optimisation Study on Pilbara Cu-Zn Project

• Net Profit Interest payment of $210,000 received for September 2015 Quarter

• Copper production at Whim Creek stabilised

• Optimisation work on Pilbara Copper Zinc Project being finalised

Venturex Resources Limited (ASX: VXR) (Venturex) is pleased to advise that it has received a Net Profit Interest payment of $210,000 from Blackrock Metals Pty Ltd (“Blackrock”) for the September 2015 Quarter under the agreement signed in March covering Blackrock’s heap leach operation.

Under this agreement, Blackrock has had access to the existing Whim Creek oxide copper processing site where it is re-processing material from the existing heap leach pads to recover copper metal through a refurbished 5 tonne per day (tpd) SX-EW treatment facility.

In return Blackrock is required to pay Venturex a fee based on the calculation of a 15% Net Profit Interest (“NPI”) .

Production of copper cathode at the Whim Creek heap leach operation has continued at the nameplate capacity of the plant, resulting in the production of 342 tonnes of copper cathode for the September 2015 Quarter (see Table 1).

	Table 1–	Copper Cathode Production	Copper Cathode Production	Copper Cathode Production
	31 Mar 2014 Qtr	30 June 2014 (ytd)	30 Sept 2014 (qtr)	31 Dec 2014 (qtr)	31 Mar 2015 (qtr)	30 June 2015 (qtr)	30 Sept 2015 (qtr)
Tonnes produced	80	80	140	370	170	395	342
(t)
NPI Payment $000’s	-	-	-	$47	-	$263	$210

==> picture [229 x 172] intentionally omitted <==

Figure 1 – Copper cathode at Whim Creek site

==> picture [158 x 54] intentionally omitted <==

The Managing Director of Venturex John Nitschke said the agreement with Blackrock Metals, an experienced heap leach operator, was continuing to provide significant cash-flow.

“We are currently working with Blackrock to assess options to extend the life of the remnant leaching operation beyond its current term,” he said.

“The funds provided by the Net Profit Interest will contribute towards the cost of the Optimisation Study on our flagship Pilbara Copper-Zinc Project, which is currently in its final stages and due for release later this week.

“The Study has identified a number of opportunities to improve and optimise the economics of the Pilbara Copper-Zinc Project compared with the original 2012 Feasibility Study, including a reduction in capital costs, a rationalization of project infrastructure and a revised mining schedule.”

JOHN NITSCHKE Managing Director

For further information, please contact:

Investors:

John Nitschke / Trevor Hart -- Venturex Resources Limited on +61 8 6389 7400 or email: admin@venturexresources.com

Media:

Nicholas Read – Read Corporate on (08) 9388 1474 or email: info@readcorporate.com.au

About Venturex Resources Limited

Venturex Resources Limited (ASX: VXR) is an exploration and development company with a significant portfolio of base metal 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.

2