DEVELOP GLOBAL LIMITED — Regulatory Filings 2017

Dec 4, 2017

An emerging copperzinc producer with exceptional exploration upside in WA’s Pilbara

• ♦ Preparing for production at Sulphur Springs

• ♦ Highly leveraged to conglomerate-hosted gold exploration

August 2016

Anthony Reilly: Executive Director – Corporate / RRS Summer Series: 5-7 December 2017

Cautionary Statement

• ♦ The information contained in this document (“Presentation”) has been prepared by Venturex Resources Limited (“Company”). This Presentation is being used as a presenter’s aid with summarised information. See Venturex’s other and periodic disclosure announcements lodged with the Australian Securities Exchange, which are available at www.asx.com.au or at www.venturexresources.com, for more information.

• ♦ While the information contained in this Presentation has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers give any representations or warranties (express or implied) as to the accuracy, reliability or completeness of the information in this Presentation, or of any other written or oral information made or to be made available to any interested party or its advisers (all such information being referred to as "Information") and liability therefore is expressly disclaimed. Accordingly, to the full extent permitted by law, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers take any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortious, statutory or otherwise, in respect of, the accuracy or completeness of the Information or for any of the opinions contained in this Presentation or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this Presentation.

• ♦ This Presentation may include certain statements that may be deemed “forward-looking statements”. All statements in this Presentation, other than statements of historical facts, that address future activities and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. The Company, its shareholders, directors, officers, agents, employees or advisers, do not represent, warrant or guarantee, expressly or impliedly, that the information in this Presentation is complete or accurate. To the maximum extent permitted by law, the Company disclaims any responsibility to inform any recipient of this Presentation of any matter that subsequently comes to its notice which may affect any of the information contained in this Presentation. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Venturex assumes no obligation to update such information.

• ♦ Investors are cautioned that any forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in forwardlooking statements. Please undertake your own evaluation of the information in this presentation and consult your professional advisers if you wish to buy or sell Venturex shares.

• ♦ This Presentation has been prepared in compliance with the JORC Code 2012 Edition. The ‘forward-looking information’ contained here is based on the Company’s expectations, estimates and projections as of the date on which the statements were made. The Company disclaims any intent or obligations to update or revise any forward looking statements whether as a result of new information, estimates or options, future events or results or otherwise, unless required to do so by law.

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Competency Statement

• ♦ The information in this presentation that relates Geophysical Exploration Results is based on information compiled by Mr Russell Mortimer, who is employed as a Consultant to the Company through geophysical consultancy Southern Geoscience Consultants Pty Ltd. Mr Mortimer is a member of the Australian Institute of Geoscientists and a member of the Australian Society of Exploration Geophysicists and has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.

• ♦ The information in this presentation that relates to Exploration Results at the Sulphur Springs Project is based on information by Mr Stefan Gawlinski who is employed as a Consultant to the Company. Mr Gawlinski is a member of the Australian Institute of Geoscientists and Mr Gawlinski has sufficient experience with the style of mineralisation and the type of deposit under consideration.

• ♦ The information in this presentation that relates Exploration Results at the Whim Creek Project is based on information compiled by Mr Reginald Beaton who is employee of the Company. Mr Beaton is a member of the Australian Institute of Geoscientists and Mr Beaton has sufficient experience with the style of mineralisation and the type of deposit under consideration.

• ♦ The information contained in this presentation relating to the Whim Creek Projects Resources and Reserves was previously released in announcements Company Resource and Reserve Statement – Revised released 8 October 2013.

• ♦ The information contained in this presentation relating to the Sulphur Springs and Kangaroo Caves Resources was previously released in announcements based on information compiled or reviewed by Mr David Milton, Hardrock Mining Consultants Pty Ltd who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Milton has sufficient experience relevant to the style of mineralisation, type of deposit under consideration and to the activity being undertaking to qualify as Competent Persons as defined in the 2012 Edition of the “Australasian Code for Reporting of Mineral Resources”

• ♦ The information contained in this presentation relating to the Sulphur Springs Reserves was previously released in announcements based on information compiled or reviewed by Mr Daniel Donald, of Entech Mining Pty Ltd who is a member of the Australasian Institute of Mining and Metallurgy. Mr Donald has sufficient experience relevant to the style of mineralisation, type of deposit under consideration and to the activity being undertaken to quality as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Mineral Reserves”.

• ♦ The Company confirms that:

• a) The form and context of the material in this presentation has not been materially modified from the above previous announcements;

• b) It is not aware of any new information or data that materially affects the information included in the previous announcements and that all material assumptions and technical parameters underpinning the estimate in the Value Engineering Study announcement issued 16 February 2017continue to apply and have not materially changed; and

• c) It is uncertain that following further exploration and evaluation that the historical estimates will be able to be reported as mineral resources or ore reserves in accordance with the JORC 2012 Code.

Capital Structure

ASX Code VXR Issued Shares 3,526M Market Capitalisation (at 1.6c) ~$56M

Experienced Board and Management

Anthony Kiernan LLB – Non Executive Chairman Solicitor with +35 years experience with public companies

Anthony Reilly B.Ec - Executive Director

+20 years investment banking and corporate experience

Venturex Share Price as at: 21November 2017

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Key Shareholders

Darren Stralow B.Eng, GAICD, GCAF - Non-Exec. Director Mining engineer with +15 years’ experience

Angus Thomson – Ba App Sci. Geology Manager. Geologist with 20 years of experience in operations and business development

Trevor Hart – B.Bus, CPA, AGIA, ACIS, Company Secretary and CFO Accountant with over 20 years of experience in the resources industry

• ♦ Substantial copper-zinc inventory across two key projects: 910,000t Zn, 320,000t Cu

• ♦ Extensive strategic land-holding in world-class Pilbara district

• ♦ Near-production asset at Sulphur Springs:

• ♦ 2017 Value Engineering Study shows NPV8% of A$338M and IRR of 52% using conservative commodity prices

• ♦ Outstanding results from in-fill drilling targeting nearsurface mineralisation

• ♦ Brownfields exploration opportunity at Whim Creek:

• ♦ Advanced, drill-ready base metal targets

• ♦ Recently identified conglomerate-hosted gold potential adjacent to recent “nugget” discoveries

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• ♦ Strategic land-holding spanning two project hubs

• ♦ Excellent access and worldclass infrastructure

• ♦ Large base metal resource inventory

• ♦ Exceptional exploration potential

Total Resources of ~910,000t of contained zinc and ~320,000t of contained copper

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Whim Creek Project:
7.2Mt @ 2.3% Zn & 1.3% Cu
Sulphur Springs Deposit:
13.4Mt @ 4.0% Zn & 1.5% Cu
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Kangaroo Caves Deposit:
3.55Mt @ 6% Zn & 0.77% Cu
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♦ Development-ready VMS zinc-copper project 144km SE of P. Hedland

• ♦ Includes Sulphur Springs and Kangaroo Caves deposit

• ♦ Tenements cover 27km of the Panorama VMS trend

• ♦ Includes six advanced targets with ore grade copper and zinc hits

• ♦ Includes 11 geophysical targets from recent HEM survey

• ♦ Feasibility Study completed in 2012

• ♦ Permitting in place based on original underground development plan on approved Mining Leases

Sulphur Springs

27 km Panorama Trend Sulphur Springs Deposit: 13.4Mt @ 4.0% Zn & 1.5% CuKangaroo Caves 3.5Mt 0.7% Cu & 6.0% Zn

• ♦ 2016 Optimisation Study reduced capital and operating costs

• ♦ Updated 2016 Mineral Resource identified near-surface high-grade supergene copper resource

Kangaroo Caves Deposit: 3.55Mt @ 6% Zn & 0.77% Cu

Key Value Drivers from VES:

• ♦ New Resource model identified near surface high grade mineralisation – significant value driver

• ♦ Open cut mining of top of the Resource

• ♦ Bulk underground mining

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The Value Engineering Study has added value in several key areas

For the avoidance of doubt the Production Target reported includes material classified as Reserve and Inferred Mineral Resources. Material classified as Reserve contributes ~66% of the material within the Production Target and Inferred Resources contribute ~34% of material included within the Production Target. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the Production Target itself will be realised.

Key Production Target metrics

• ♦ 11.7Mt @ 3.6% Zn, 1.4% Cu, 15g/t Ag

• ♦ 1Mtpa mill feed

• ♦ ~12 year life before exploration

• ♦ ~32,000tpa Zn in conc.

• ♦ ~12,000tpa Cu in conc.

Key financial metrics

• ♦ Peak cash draw A$183 million

• ♦ Pre tax NPV8% A$338 million

• ♦ C1 cost US$0.14/lb payable Zn

• ♦ IRR 52%

• ♦ Payback 1.6years

• Price assumptions

• ♦ Zn US$2,535/t

• ♦ Cu US$6,450/t

• ♦ A$:US$ 0.76

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For the avoidance of doubt the Production Target reported includes material classified as Reserve and Inferred Mineral Resources. Material classified as Reserve contributes ~66% of the material within the Production Target and Inferred Resources contribute ~34% of material included within the Production Target. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the Production Target itself will be realised.

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In-fill drill programme

• ♦ 17 hole program:

• ♦ 11 holes to test supergene / transitional mineralisation

• ♦ 6 holes to test primary mineralisation

Aiming to in-fill ~60% of the highgrade Inferred Resource

• ♦

  • ♦ 800kt @ ~4.2% Cu

• Collect samples for metallurgical testing

• ♦

Hole	Significant Intersections	Comment
SSD089	38.2m @ 3.49% Cu, Including 14m @ 5.98% Cu
SSD090	40.3m @ 3.35% Cu, Including 12.8m @ 6.13% Cu
SSD091	20.5m @ 3.06% Cu, Including 6.7m @4.87% Cu
SSD092	18m @ 2.59% Cu, Including 7m @4.5% Cu 14.7m @ 1.84% Cu, Including 2.2m @1.8% Cu
SSD093	6.1m @ 2.28% Cu, Including 3.1m @4.96% Zn and 2.25% Cu 4.45m @ 1.88% Cu 1.1m @ 25.2% Zn
SSD094	20m @ 12.05% Zn, Including 4m @20.8% Zn
SSD095	29m of semi massive to massive sulphides	Assays pending
SSD096	31m of semi massive to massive sulphides	Assays pending
SSD097	31m of semi massive to massive sulphides	Assays pending
SSD098 - 100	SSD98 Completed, 99 and 100 drilling

10 holes completed all with significant sulphide intersections

Refer ASX release dated 10 October 2017 & 23 October 2017

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8.6m @ 1.93g/t Au & 186g/t Ag
12.8m @ 6.13% Cu
40.3m @ 3.35% Cu
21m @ 2.97% Cu & 3.72% Zn
2.4m @ 5.22% Cu & 2.95% Zn 14m @ 5.98% Cu
38m @ 3.49% Cu
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Refer ASX release dated 23 October 2017

7m @ 4.50% Cu 21m @ 2.80% Cu 18m @ 2.59% Cu 6.7m @ 4.87% Cu 15.9m @ 2.64% Cu 20.5m @ 3.06% Cu 14.7m @ 1.84% Cu 2.2m @ 1.89% Cu & 2.56% Zn

Refer ASX release dated 1 November 2017

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9m @ 10.9% Zn & 2.24% Pb
20m @ 12.05% Zn
6.1m @ 2.28% Zn
4m @ 20.8% Zn & 2.67% Pb
3.1m @ 4.96% Zn & 2.25% Pb
21.7m @ 1.50% Zn
4.45m @ 1.88% Zn
11.5m @ 1.81% Zn
1.1m @ 25.2% Zn
5m @ 1.59% Zn
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Refer ASX release dated 16 November 2017

Untested DHEM anomaly down-dip of current mineralisation

~27km of highly prospective ground to test

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Refer ASX release dated 23 May 2017

• ♦ 11 geophysical targets identified by the EM survey.

• ♦ 8 targets interpreted as being associated with the Marker Chert horizon and the underlying felsic volcanic host.

• ♦ Both Sulphur Springs and Kangaroo Caves deposits are associated with this contact.

• ♦ Continues to demonstrate the local and regional exploration potential at Sulphur Springs

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• ♦ Three high priority targets adjacent to Sulphur Springs.

♦ Anomaly XA5 located to the east and extends 200-300m beyond the currently interpreted position of the Sulphur Springs orebody.

• ♦ Anomaly XA6 located to the west and extends 200-250m beyond the western interpretation of the Sulphur Springs orebody.

• ♦ Anomaly XA7 proximal to the prospective Marker Chert horizon and along strike from Sulphur Springs

• ♦ XA6 adds weight to the Company’s belief that the mineralisation may extend to the west.

• ♦ XA5-7 and DHEM anomaly in SSD044A demonstrate the strong exploration potential to be tested during 2018.

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Sulphur Springs Targeting a Decision	Sulphur Springs Targeting a Decision	to Commit in Q2 CY2018
	Key work programmes underway	Target completion date
	Current In-fill Drilling Programme	Q4 CY2017
	Resource Update	Q1 CY2018
	Metallurgy Test Work	Q2 CY2018
	EPA Permitting and Approvals	Q2 CY2018
	Decision to Commit	Q2 CY2018
				Page: 18

• ♦ Strategic land-holding spanning two project hubs

• ♦ Excellent access and worldclass infrastructure

• ♦ Large base metal resource inventory

• ♦ Exceptional exploration potential

Total Resources of ~910,000t of contained zinc and ~320,000t of contained copper

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Whim Creek Project:
7.2Mt @ 2.3% Zn & 1.3% Cu
Sulphur Springs Deposit:
13.4Mt @ 4.0% Zn & 1.5% Cu
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Kangaroo Caves Deposit:
3.55Mt @ 6% Zn & 0.77% Cu
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Base Metal Potential

• ♦ Significant Cu and Zn Resources

• ♦ Drill-ready targets at Salt Creek and Mons Cupri

Conglomerate Gold Potential

Whim Creek Project: 7.2Mt @ 2.3% Zn & 1.3% Cu

• ♦ ~11km of strike length of lower Fortescue rocks

• ♦ Adjacent to DeGreys “Loudens Patch” nugget find

• ♦ Historical prospects at Mays Find and NE corner

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• ♦ Drilling in 2016 extended base metal mineralisation downplunge:

• ♦ 16VSCD008 18.7m @ 2.4% Cu

• ♦ 16VSCD007 10.6m @ 1.5% Cu

• ♦ WSD128 22m @ 3.4% Cu

• ♦ Drill-ready down-dip anomalies available for drill testing

• ♦ Highly prospective for further copper-zinc discoveries

Refer ASX release dated 31 May 2017

• ♦ Four anomalous trends identified in 2016

SW target area

• ♦ Co-incident geophysical and geochemical responses to the SW of the historical Mons Cupri open pit

• ♦ Government co-funding secured to drill test SW target area

Refer ASX release dated 31 May 2017

• ♦ Four key gold prospects

• ♦ Loudens Patch

• ♦ Mays Find

• ♦ Roadmaster

• ♦ Quartz Hill

• ♦ Two field reconnaissance trips undertaken

• ♦ Mt Roe basalt and basal conglomerates confirmed at Loudens Patch and Mays Find

• ♦ Gold occurrences associated with conglomerates identified at Mays Find

• ♦ Occurs as an extensive unit within a 5km x 0.6km area

• ♦ Further work planned includes stream sediment sampling, soil sampling and mapping

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Significant copper and zinc inventory

• ♦ ~320,000t of contained Copper

• ♦ ~910,000t of contained Zinc

Advancing Sulphur Springs in 2017

• ♦ In-fill drilling to provide Resource update

• ♦ Metallurgical test work

• ♦ Environmental approvals process underway

• ♦ Near-mine and regional exploration upside

• ♦ Decision to mine Q2 2018

Whim Creek

• ♦ Cu / Zn exploration exposure at Salt Creek and Mons Cupri

• ♦ Growing leverage to conglomerate-hosted gold

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CONTACT DETAILS:

• ♦ Anthony Reilly – Executive Director email: anthony.reilly@venturexresources.com

• ♦ Angus Thomson – Geology Manager email: angus.thompson@venturexresources.com

• ♦ Trevor Hart – Company Secretary/CFO email: trevor.hart@venturexresources.com

Registered Office:

Level 2, 91 Havelock Street West Perth WA 6005

T: + 61 8 6389 7400

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F: + 61 8 9463 7836

admin@venturexresources.com www.venturexresources.com

THANK YOU!

Activity	Units	Total	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10	Year 11	Year 12	Year 13
Supergene Ore Mined Copper Grade	t %	879 3.9%	- -	690 4.2%	189 2.8%	264 2.4%	- -
Sulphide Ore Mined Zinc Grade Mined Copper Grade	t % %	4,130 4.1% 1.3%	- - -	229 2.5% 1.4%	810 3.3% 1.4%	986 5.0% 1.1%	1,002 3.5% 1.2%	1,000 4.5% 1.5%	103 6.4% 1.6%
Waste	'000t	41,734	3,999	10,411	10,126	10,162	6,306	709	22	-	-	-	-	-	-
Strip Ratio (Total Ore)		8.3	-	11.3	10.1	10.3	6.3	0.7	0.2	-	-	-	-	-	-
Sulphur Springs Underground3	‘000t	4,892	-	-	-	-	-	143	693	1,023	989	1,031	762	250	-
Copper Grade	%	1.3%	-	-	-	-	-	1.6%	1.4%	1.6%	1.3%	1.2%	1.3%	1.2%	-
Zinc Grade	%	3.7%	-	-	-	-	-	3.3%	4.1%	4.0%	3.8%	3.8%	3.2%	2.0%	-
Development	m	7,325	-	-	-	-	-	2,922	2,958	1,125	-	-	-	-	-
Kangaroo Caves Underground4	'000t	1,835	-	-	-	-	-	-	-	-	193	442	433	430	337
Copper Grade	%	0.7%	-	-	-	-	-	-	-	-	0.6%	0.7%	0.8%	0.7%	0.6%
Zinc Grade	%	3.8%	-	-	-	-	-	-	-	-	4.7%	4.1%	3.7%	3.0%	4.1%
Development	m	10,134	-	-	-	-	-	-	-	180	3,860	5,306	788	-	-
Ore Processed (Sulphide)	'000t	11,736	-	887	1,000	1,003	1,000	1,000	956	1,003	1,000	1,000	1,000	1,003	885
Copper Head Grade	%	1.4%	-	3.4%	1.8%	1.1%	1.2%	1.4%	1.5%	1.6%	1.3%	1.2%	1.2%	0.8%	0.7%
Zinc Head Grade	%	3.6%	-	1.0%	2.8%	4.9%	3.5%	4.1%	4.6%	4.0%	3.8%	3.9%	3.4%	3.3%	3.8%
Copper Recovery	%	90
Copper Concentrate Grade	%	26
Zinc Recovery	%	93
Zinc Concentrate Grade	%	55
Concentrate Produced Copper	'000 wmt	619	-	114	65	41	46	53	52	59	47	44	44	31	22
Concentrate Produced Zinc	'000 wmt	774	-	16	52	90	63	76	81	74	69	71	62	60	62
Payable Cu in con (96.5%)	'000t	144	-	26	15	10	11	12	12	14	11	10	10	7	5
Payable Zn in con (85%)	'000t	335	-	7	22	39	27	33	35	32	30	31	27	26	27

This Production Target must be read in conjunction with the cautionary statements in this presentation and refer ASX release dated 16 February 2017 Resource Recovery of 95% at 10% dilution, Resource Recovery of 80 to 95% at 10 to 25% dilution, Resource Recovery of 95% at 10% dilution

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		Total	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10	Year 11	Year 12	Year 13
Capital – Life of Mine		$’000
Process Plant and Infrastructure		162,449	147,864	14,585	-	-	-	-	-	-	-	-	-	-	-
Mine Infrastructure		23,957	5,383	2,304	2,304	2,304	6,031	2,050	1,269	768	648	470	31	19	377
Mine Development		51,255	13,157	-	-	-	2,243	12,614	7,369	1,101	10,671	4,100	-	-	-
Sustaining		31,939	-	550	3,210	2,390	3,217	3,518	2,563	4,118	2,608	4,658	2,608	2,499	-
Rehabilitation (net of salvage)		18,479	-	-	-	-	346	346	346	1,150	1,150	1,150	642	-	13,349
Total Life of Mine Capital		288,079	166,405	17,438	5,514	4,694	11,836	18,528	11,547	7,137	15,078	10,378	3,281	2,518	13,725
Peak Cash Draw		183,165
Operating Costs	$ / ore t	$’000
SS Open Pit	34.46	172,641	-	36,236	41,218	41,503	35,717	15,639	2,326	-	-	-	-	-	-
SS Underground	37.19	181,931	-	-	-	-	825	22,633	39,547	36,557	26,863	25,271	21,570	8,665	-
KC Underground	58.85	107,989	-	-	-	-	-	-	-	121	16,086	38,827	21,781	19,523	11,652
Processing and G&A	39.75	466,474	-	35,247	39,746	39,855	39,746	39,746	37,998	39,855	39,746	39,746	39,746	39,855	35,189
Conc. Transport, Treatment & Royalties	49.97	581,417	-	49,597	48,029	55,681	46,016	53,725	55,575	54,744	48,833	48,478	44,619	39,411	36,708
Total Operating Costs (Ave)	129.13	1,510,452	-	121,080	128,993	137,040	122,305	131,743	135,446	131,276	131,529	152,322	127,716	107,455	83,548
Copper C1 Cost	US$/lb	0.58
Zinc C1 Cost	US$/lb	0.14
Copper C1 Cost (exc by-products)	US$/lb	1.49
Zinc C1 Cost (exc by-products)	US$/lb	0.72
Revenue (Price Deck)	$M	2,400	-	253	210	217	187	220	226	227	199	195	181	152	134
Cash flow (Price Deck)	$M	601	-166	114	75	75	53	69	79	89	52	32	50	42	37
		Price Deck	Spot
Project Pre-Tax NPV8	$M	338	402
Project IRR	%	52%	54%
Payback	Years	1.6	1.7

This Production Target must be read in conjunction with the cautionary statements within this presentation and refer ASX release 16 February 2017. 2 Price Deck Zn US$1.15/lb; Cu US$2.93/lb; FX US$0.76 Zinc TC US$235/tonne Copper TC/RC US$92.5/US$0.0925 8% moisture 3 Spot Prices (February 2017) Zn US$1.29/lb; Cu US$2.72/lb; FX US$0.754 Zinc TC US$170/tonne Copper TC/RC US$92.5/US$0.0925 8% moisture

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* Rounding errors may occur

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ORE RESERVE	ORE RESERVE	ORE RESERVE	ORE RESERVE	ORE RESERVE	ORE RESERVE	ORE RESERVE	ORE RESERVE
	Classification	Tonnes ('000t)	Cu %	Zn %	Pb %	Ag g/t	Au g/t
Whim Creek *	Probable	221	2.7	1.3	0.7	10.8	0.1
Mons Cupri *	Probable	951	1.7	2.2	1.0	47.1	0.3
Sulphur Springs #	Probable	7,280	1.2	3.5	0.1	14.4	0.0
Total		8,452	1.3	3.3	0.2	18.0	0.1

* Refer ASX release 8 October 2013

# Refer ASX release 1 July 2016

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