DEVELOP GLOBAL LIMITED — Regulatory Filings 2016

May 29, 2016

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MACARTHUR MINERALS SIGNS MOU TO ENTER INTO FARM-IN AND JOINT VENTURE AGREEMENT ON LITHIUM RIGHTS AT SULPHUR SPRINGS

Positions Venturex to benefit from any lithium discoveries on its ground via JV with TSX-V listed explorer

Highlights

• MOU signed with Macarthur Minerals to enter into a FJVA (Farm-in and Joint Venture Agreement) to explore for and develop lithium at Venturex’s Sulphur Springs Copper-Zinc Project in WA.

• Sulphur Springs is located in the highly prospective Shaw River district, close to the emerging world-class Pilgangoora lithium mining centre.

• Completion of an FJVA is subject to due diligence to be carried out by the parties over the next two months.

• Macarthur to manage exploration and development.

Venturex Resources Limited (ASX: VXR) ("Venturex") is pleased to announce that it has signed a Memorandum of Understanding (MOU) with TSX-V-listed lithium focused explorer Macarthur Minerals Limited (TSXV: MMS; "Macarthur") to enter into a Farm-in and Joint Venture Agreement (FJVA) on the lithium rights at its 100%-owned Sulphur Springs Copper-Zinc Project in WA’s East Pilbara region (“Sulphur Springs”).

The MOU sets out the framework for an FJVA on the Lithium Rights at Sulphur Springs and is subject to satisfactory completion of due diligence by both parties over the next two months. Sulphur Springs is located 144km south-east of Port Hedland in the heart of the Shaw River tintantalum pegmatite district, which is one of the world’s most prospective emerging districts for lithium exploration.

The Sulphur Springs Project is located approximately 30km from the worldclass Pilgangoora Lithium deposits, currently being evaluated by Pilbara Minerals Ltd (ASX: PLS) and Altura Mining Ltd (ASX: AJM) and includes approximately a 71km[2] (17,540 acres) tenement package which includes the Sulphur Springs and Kangaroo Caves Copper-Zinc Resources.

The term of the MOU is three months and it can be terminated by mutual agreement of the parties or on one month’s notice by either party.

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ASX Announcement
ASX Code: VXR
Released: 30 May 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
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The FJVA would cover the Lithium Rights only and would be subject to a Split Commodities Agreement that maintains priority development of the Sulphur Springs and Kangaroo Caves Copper-Zinc Resources.

Venturex and Macarthur will negotiate the final terms of the Joint Venture following the completion of the due diligence and to reflect comparable transactions. Macarthur will have the right to earn up to 51% of the Lithium Rights by meeting various spending milestones to be negotiated . There will be a minimum spend requirement before Macarthur can withdraw.

Macarthur will be the manager of the Joint Venture.

Venturex's Managing Director, Mr John Nitschke, said: "We are pleased to have attracted Macarthur as a potential partner to explore for and potentially develop any lithium mineralisation on our Sulphur Springs Copper-Zinc Project tenements. Macarthur is focused on building a portfolio of lithium exploration and development projects and has a high quality team in place, including an internationally accredited Advisory Board, which I am confident has the ability to achieve this goal.

"This will enable us to benefit from the discovery of any lithium on the Sulphur Springs tenements while maintaining our focus on increasing our existing cash flow from the Whim Creek copper heap leach, identifying near-term production opportunities to produce copper and zinc that we can achieve in this market and optimising the value of our greenfields Sulphur Springs Copper-Zinc Project.

“With our granted Mining Leases, Native Title Agreements and extensive environmental baseline monitoring over our tenements, any lithium resources that are identified can be expeditiously developed, allowing us to jump to the front of the queue of the many people seeking to produce lithium to supply the burgeoning demand for this highly sought-after metal.”

JOHN NITSCHKE Managing Director

For further information, please contact:

Investors

John Nitschke / Trevor Hart Venturex Resources Limited Ph: +61 (08) 6389 7400 Email: admin@venturexresources.com

Media: Nicholas Read – Read Corporate Ph: (08) 9388 1474 Email: info@readcorporate.com.au

About Venturex Resources Limited

Venturex Resources Limited (ASX: VXR) is an exploration and development company with two advanced Copper Zinc Projects near Port Hedland in the Pilbara region of Western Australia. The two projects are the Sulphur Springs Project which includes the Sulphur Springs Project, Kangaroos Caves Resource plus 27km of prospective tenements on the Panorama trend and the Whim Creek Project which includes the Resources at the Whim Creek, Mons Cupri and Salt Creek mines together with the Evelyn project and 18,100 ha of prospective tenements over the Whim Creek basin. Our strategy is to work with our partners Blackrock Metals to expand and extend the existing 5 tonne per day oxide copper heap leach and SXEW operation at Whim Creek, identify other near term production options at Whim Creek, Mons Cupri and Sulphur Springs and fully optimise the Sulphur Springs Project have it shovel ready to take advantage of forecast improvements in base metal prices.

About Macarthur Minerals Limited

Macarthur Minerals Limited (TSX-V- MMS) is an exploration and development company that is focused on identifying and developing high grade lithium and counter cyclical investments that complement Macarthur’s capabilities.

Disclaimer

This announcement does not constitute an offer to acquire or sell or a solicitation of an offer to sell or purchase any securities in any jurisdiction. In particular, this announcement does not constitute an offer, solicitation or sale to any U.S. person or in the United States or any state or jurisdiction in which such an offer, tender offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and neither such securities nor any interest or participation therein may not be offered, or sold, pledged or otherwise transferred, directly or indirectly, in the United States or to any U.S. person absent registration or an available exemption from, or a transaction not subject to, registration under the United States Securities Act of 1933.

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