DEVELOP GLOBAL LIMITED — Regulatory Filings 2016

May 5, 2016

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ASX Announcement
ASX Code: VXR
Released: 6 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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Ion Exchange Unit to Increase Copper Production at Whim Creek

Highlights

• Operator Blackrock to mobilise a Fenix Ion Exchange Unit to supplement Whim Creek Heap Leach production.

• Copper sulphate residue to be recovered from environmental and process ponds.

• Test work indicates production to increase by 1 tonne of copper in cathode per day over the next 6 months.

Venturex Resources Limited (ASX: VXR) is pleased to advise that Blackrock Metals Pty Ltd ("Blackrock") have procured the lease of a 6 column Ion Exchange ("IX") unit from Fenix Hydromet Australasia Pty Ltd ("Fenix"). This unit is expected to boost copper production under the heap leach access and processing agreement ("Agreement") at Venturex's 100%-owned Whim Creek Copper Zinc Project, located 120km to the south-west of Port Hedland in Western Australia.

This transportable IX unit has been successfully used to recover copper at a mine in Queensland and will be relocated to Whim Creek. Commissioning is expected to be completed by the end of June 2016. The cost of mobilisation and commissioning of the IX unit will be covered by revenue from existing production.

A picture of the IX columns is shown in Figure 1.

Test work completed recently by Blackrock at Whim Creek has indicated that this technology is well suited to the treatment of the highly viscous super saturated solutions of copper sulphate that have accumulated in the environmental and process ponds on site. The sulphate solutions will be diluted with water and passed through the IX columns where copper metal will be exchanged onto resin.

Copper accumulated on the resin will periodically be washed from the resin using an acid solution. The dissolved copper solution will be added to the circulating copper inventory in the existing SX/EW plant and recovered by electrowinning. A flow sheet of this circuit is shown in Figure 2.

The test work has indicated that an additional one tonne per day of copper metal can be produced by utilising the IX unit .

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It is expected that it will take approximately six months to clear the copper sulphate accumulations from the ponds.

The forecast impact of the IX unit on daily copper production is shown in Figure 3. This figure also shows the positive results achieved by the measures recently implemented by Blackrock to reactivate the heap leach dumps.

The Agreement with Blackrock was recently extended and a payment to Venturex of $500,000 for the first half of 2016 guaranteed (see ASX announcements 16 April and 17 March 2016)

Venturex's Managing Director John Nitschke said the recommendation by Blackrock to introduce the Ion Exchange unit was an excellent example of the benefits that the partnership with Blackrock, with their extensive hydrometallurgical skills and experience, brought to the Company.

"The extra production will supplement our ongoing efforts to reactivate the heap leach dumps by turning and restacking them using an excavator – which are already beginning to have an impact," Mr Nitschke said.

"Our immediate aim is to utilise the full 4.5 tonne per day capacity of the existing SX/EW plant and then to assess the viability of further expansion beyond that level. Blackrock has already identified a cost effective expansion to 6 tonnes per day and is actively assessing other sources of leachable copper in the Whim Creek area as potential feedstock for an expanded heap leach operation."

JOHN NITSCHKE Managing Director

For further information, please contact:

Investors:

John Nitschke / Trevor Hart – Venturex Resources Limited on (08) 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 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.

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About Fenix Hydromet Australia

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Fenix is a privately owned Australian based chemical engineering company, established in 2001 to commercialise a patented ion exchange process for the removal of ferric impurities from copper electrowinning solutions (Dreisinger & Shaw US Patent 5,948,264). The company has since diversified and expanded to cover a range of chemical separation and metal processing technologies. Our client base is mainly in the hydrometallurgical field, and includes working with Government departments on a number of environmental remediation projects. Fenix has had clients and projects in Australia, SE Asia, Europe, Africa, North and South America, largely in the mining and chemical industries. www.fenixhydromet.com

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Figure 1 – Skid-mounted IX columns loaded on truck

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Figure 2 – Process flow sheet for use of IX columns at Whim Creek

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Figure 3 – Copper Production at Whim Creek

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