DEVELOP GLOBAL LIMITED — Regulatory Filings 2016

Sep 7, 2016

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

Venturex Completes $5.1M Raising

==> picture [161 x 702] intentionally omitted <==

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

ASX Announcement
ASX Code: VXR
Released: 8 September 2016
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 -----

Company well funded for exploration program at Whim Creek Zinc-Copper Project where drilling is underway

Venturex Resources (ASX: VXR) is pleased to advise that Euroz Securities Limited (Euroz) has placed the Shortfall shares from the Company’s recent 2:5 entitlement offer dated 2 August 2016 (“Offer” see ASX Release - 27 July 2016 ).

A total of 190,053,632 shortfall shares with 95,026,826 free attaching options issued were placed to clients of Euroz, raising an additional $1.1 million. This brings the total funds raised before costs to $5.1 million , completing the funding package announced on 27 July 2016.

The Company is well-funded to progress its exploration and growth strategy at its zinc-copper projects in the Pilbara region of WA.

Venturex has commenced drilling at its 100%-owned Whim Creek ZincCopper Project, located 115km south-west of Port Hedland in WA.

The objective of this program is to grow the existing zinc-copper Resource inventory with a particular focus on extending known highgrade zinc and precious metal dominant sulphide zones.

The program is underway with a diamond rig drilling at the Salt Creek deposit.

This first hole is targeting extensions of previous high-grade intersections of zinc and lead with significant silver, gold and indium grades already achieved by Venturex at Salt Creek (see ASX release 30th June 2010 and 26th August 2016). These intersections included:

• 4.75m from 72.4m @ 47.8% Zn, 8.7% Pb, 294g/t Ag, 0.9g/t Au & 69g/t In (SCD009); and

• 3.75m from 107.95m @ 49.2% Zn, 7.1% Pb, 327g/t Ag, 4.1g/t Au, 223g/t In (SCD005)

A Reverse Circulation rig is drilling pre-collars for diamond drill holes planned at the Mons Cupri deposit to test for potential extensions to the known high-grade massive zinc-copper-silver gold sulphide mineralisation contained within the Resource at this deposit.

JOHN NITSCHKE Managing Director

For further information, please contact:

Mr John Nitschke, Managing Director or Mr Trevor Hart, Company Secretary 61 8 6389 7400

Media:

Mr Nicholas Read, Read Corporate 61 8 9388 1474 or email: info@readcorporate.com.au

About Venturex Resources Limited

==> picture [156 x 52] intentionally omitted <==

Venturex Resources (ASX: VXR) is a rapidly growing Australian zinc company which is focused on the exploration and development of its two advanced zinc-copper projects located near Port Hedland in the premier Pilbara mining province of Western Australia. After recently completing a $5 million capital raising, Venturex has embarked on a major new drilling program aimed at further expanding its resource inventory, which comprises more than 900,000t of contained zinc and 320,000t of contained copper.

Its initial exploration focus is on extending the existing high-grade zinc, copper and lead resources at the Whim Creek Project, where it has identified a range of targets adjacent to the Salt Creek and Mons Cupri deposits. Drilling commenced in late August and will continue through until the end of the year, generating strong ongoing news-flow. The successful extension of the known Resources at Whim Creek will result in a project that is compelling at spot prices. The existing infrastructure at Whim Creek means that any such project could be producing zinc, copper and lead concentrates during the first half of calendar 2018.

Venturex is continuing to progress permitting and pre-development activities for its Sulphur Springs Project, one of the most significant undeveloped zinc deposits in Australia. On-going value engineering of the 2013 Feasibility Study has resulted in a potential low-risk copper-zinc project with attractive economics and a proposed low-CAPEX Stage 1 development based on a near-surface high grade supergene copper zone.

Venturex also receives an ongoing income stream from a profit share in an SX/EW heap leach operation recovering copper from the heap leach dumps at Whim Creek. Venturex received $780,000 in FY2016 from 990t of copper metal production. This cash flow covers the bulk of the Company’s overheads and is expected to continue for the next 2-3 years.

About Zinc

Zinc is a blue-grey metal which readily forms alloys with metals including copper, aluminium and magnesium. Zinc is primarily used for its corrosion resistance in galvanising which accounts for approximately half of global zinc consumption. Galvanised materials (commonly iron and steel) are used extensively in transport, construction and appliance manufacturing purposes. Metallic zinc is also used in dry cell batteries, die-casting, roof cladding and in the production of zinc oxide.

Zinc demand is dominated by China at 6.9Mt or 49%. Global consumption is forecast to grow at a CAGR of 2% over 2016-2020, with the strongest demand growth coming from China at 2% and also the US and India. Following recent mine closures and this increasing demand growth, the current zinc market is tight with declining global inventories and a supply deficit forecast in coming years. Zinc prices have responded accordingly rallying above the top of the global mine cost curve. The concentrate market also reflects this supply tightness, with smelters materially discounting treatment charges.

About Indium

Indium has a unique combination of properties that has led to its extensive use in solar panels, computer chips and as electrodes in liquid crystal displays (LCDs) and flat screen televisions. In such display devices each pixel consists of a light absorbing material which is sandwiched between Indium Tin Oxide (ITO) electrodes. Touch screens in the latest generations of mobile phones and e-readers also use the ITO electrodes that are separated by a tiny gap, the capacitance of which alters when touched by a finger. Possible alternatives to ITO are generally less transparent, less conducting, more brittle, toxic or a combination of these, thereby making Indium a sought after metal for this application.

Indium is mostly derived as a by-product of zinc production. Although zinc is mined all over the world, estimates are that the world will deplete its known reserves of high-indium ore by 2028.

2