DEVELOP GLOBAL LIMITED — Regulatory Filings 2017

May 30, 2017

==> picture [596 x 13] intentionally omitted <==

Down hole geophysics extends down plunge potential of the high grade Salt Creek zinc –copper deposit

Highlights

• Down hole geophysical surveys demonstrate likely down plunge extensions to both copper and zinc rich sulphide lodes.

• Results continue to demonstrate the prospectivity of the Salt Creek VMS system

• Geophysical data combined with the geological and structural models will be used to generate new drill targets.

• New drill results to be incorporated into an updated geological and Resource Model.

Venturex Resources Limited (ASX: VXR "Venturex" or the "Company") is pleased to advise that it has received the results of downhole geophysical surveys that were completed at the Company’s Salt Creek deposit within the Whim Creek Copper-Zinc Project.

The results have further extended the down plunge potential of the high grade copper and zinc lodes at Salt Creek (see Figure 1) . This is another positive result and continues to reinforce the Company’s view of the prospectivity at Salt Creek and its approach to exploration.

Background

Three deep diamond holes, 16VSCD007-009, were drilled in the December quarter 2016 to test previously defined TEM & MMR plates down plunge of the high grade Salt Creek resource. The drilling successfully extended the western zinc lode, central copper lode and the eastern zinc lode (ASX release 12 January 2017) . All three holes were surveyed by transient electromagnetic (DHTEM) and magneto-metric resistivity (DHMMR) methods. The DHTEM method is effective for locating the strongly conductive chalcopyrite (copper rich) massive sulphide lodes and the DHMMR method is effective for locating the weakly conductive sphalerite (zinc rich) massive sulphide lodes.

Salt Creek has an existing resource of 1Mt at 7.0% Zn, 2.0% Cu, 2.1% Pb and 52g/t Ag ( see ASX release 8 October 2013 ) and is part of the Company’s 100% owned Whim Creek Zinc-Copper Project

==> picture [145 x 772] intentionally omitted <==

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

ASX Announcement
ASX Code: VXR
Released: 31 May 2017
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 -----

==> picture [173 x 58] intentionally omitted <==

Details

Hole 16VSCD007 tested the eastern zinc lode approximately 110m down plunge of WSD130. The hole deviated from its planned trajectory intersecting just below the plunge of the targeted high grade lodes. Even so the hole intersected both 10.58m of footwall stringer style mineralisation from 434m @ 1.49% Cu and 6.9m of massive sulphide mineralisation from 448.4m grading 1.18% Cu, 4.7% Zn, 13 g/t Ag, 0.32g/ t Au.

Multiple DHTEM conductors and DHMMR anomalies are evident reflecting both the copper rich stringer sulphide zone and the mixed copper – zinc massive sulphide zone. The geophysical responses recorded below the hole indicate a further possible down plunge extension to the eastern lode.

Diamond drill hole 16VSCD008 was designed to test a previously defined DHTEM plate down plunge of the central copper rich lode about 100m below WSD128. This hole intersected stringer style mineralisation of 18.7m from 457.75m @ 2.42% Cu associated with very strong chlorite alteration and was interpreted to be just below the projected plunge of the high grade massive sulphide zone intersected in WSD128. The strong off hole DHTEM conductor (see figure 1) is consistent with this interpretation.

Diamond drill hole 16VSCD009 was designed to intersect a large DHMMR anomaly and extend the high grade western lode down plunge. The hole intersected semi-massive sulphides with 9.85m from 265.15m @ 0.34% Cu, 8.76% Zn, 1.44% Pb, 15g/t Ag, 0.2g/t Au. The DHTEM shows a strong in-hole conductor associated with a MMR anomaly consistent with the mineralisation intersected. An MMR anomaly below the drill hole indicates the high grade zinc zone may extend beyond the current drilling .

The new TEM and MMR plates will be combined with the results from the recently completed program of core re-logging. Once this data has been compiled new drill targets will be generated with the aim of extending the current high grade zinc and copper resource further down plunge.

Management Comment

Venturex’s Managing Director, Mr John Nitschke, said “the geophysical results are a very encouraging outcome and continue to demonstrate the exploration potential of the Salt Creek VMS system”.

“While we remained focused on advancing our flagship Sulphur Springs Project over the course of 2017, the Whim Creek project continues to build exploration momentum and is moving towards a significant discovery”.

“Our strategy at Whim Creek continues to be a back to basics approach focused on expanding the Resource base and providing the Company with a brownfields development opportunity to lever off the significant infrastructure and location of the project”.

“The results released today and the earlier drill results continue to demonstrate the potential at Salt Creek for a significant increase in the resource inventory,” he added.

2

==> picture [173 x 58] intentionally omitted <==

==> picture [501 x 348] intentionally omitted <==

Figure 1: Salt Creek long section and geophysical targets

3

==> picture [173 x 58] intentionally omitted <==

==> picture [497 x 715] intentionally omitted <==

Figure 2: Salt Creek composite cross section and geophysical targets

4

==> picture [191 x 61] intentionally omitted <==

JOHN NITSCHKE Managing Director

==> picture [173 x 58] intentionally omitted <==

For further information, please contact:

Investors Media: John Nitschke / Trevor Hart Nicholas Read – Read Corporate Venturex Resources Limited Ph: (08) 9388 1474 Ph: +61 (08) 6389 7400 Email: info@readcorporate.com.au Email: admin@venturexresources.com

About Venturex Resources Limited

Venturex Resources (ASX: VXR) is a rapidly growing Australian zinc company which is focused on the development of its advanced Sulphur Springs zinccopper project located 144 km to the south of Port Hedland in the premier Pilbara mining province of Western Australia. After recently releasing a Value Engineering Study on this project which showed compelling economics the company is committed to an aggressive work program aimed at having funding in place by the first quarter of CY 2018 which would see the project in production in the first quarter of 2019.

The Sulphur Springs Project is one of the most significant undeveloped zinc deposits in Australia and the company believes that it is now the right time to develop the project. A drilling and metallurgical test work program aimed at converting inferred supergene resources to indicated is planned along with activities to amend the existing environmental permits. A formal program to identify funding options for the project is in place with the target of being in production during the first half of CY 2019.

Exploration at the existing high-grade zinc, copper and lead resources at the Whim Creek Project is aimed at extending existing high grade copper, zinc and lead Resources at the Salt Creek and Mons Cupri deposits. 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 quickly and cheaply.

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 reflects this supply tightness, with smelters materially discounting treatment charges.

Competency Statements

The information in this announcement that relates to Exploration Results, and Geophysical Exploration Results is based on information compiled or reviewed Reg Beaton who is a Member of the Australasian Institute of Geoscientist. The information contained in this announcement was previously released in ASX announcements on the 12 January 2017.

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; and

• b. It is not aware of any new information or data that materially affects the information included in the 12 January 2017 announcement and that all material assumptions and technical parameters underpinning the estimate in the 12 January 2017 announcements continue to apply and have not materially changed.

The information in this announcement that relates to Mineral Resources is based on information compiled or reviewed by Mr James Guy who is a Member of the Australasian Institute of Mining and Metallurgy. The information contained in this announcement was previously released in ASX announcements on the 8 October 2013.

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; and

• b. It is not aware of any new information or data that materially affects the information included in the 8 October 2013 announcement and that all material assumptions and technical parameters underpinning the estimate in the 8 October 2013 announcements continue to apply and have not materially changed.

5

Notes Relating to the Salt Creek Drilling

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

Section 1 Sampling Techniques and Data

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation		Commentary
Sampling techniques	 Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling.  Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.  Aspects of the determination of mineralisation that are Material to the Public Report.  In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.		Current Drilling  Diamond drilling was used to test the Salt Creek deposit. Diamond coring was from surface.  The company used industry standard practices to measure and mark up the drill core.  Half diamond core was submitted to the laboratory for analysis Historical Drilling Several generations of drilling have been undertaken on the Salt Creek Deposit since the 1970s. The drilling results detailed in this announcement were from drilling undertaken by Straits Resources 2005- 2007 and Venturex Resources 2010 - 2012 and reported under JORC 2004 reporting standard to the Australian Stock Exchange during 2010- 2012. Geophysics Downhole electromagnetic surveying (DHTEM) was completed on the holes listed below by Gap Geophysics Australia Pty. Ltd. during May 2017. The holes surveyed were: 16VSCD007, 16VSCD008 and 16VSCD009 Specifications for the surveying were: Receiver / Transmitter: DigiAtlantis / Gap GeoPak HPTX-70 Loop Size: 1000 x 850m Current: ~100A Base Frequency: 2.083Hz Acquired Components: A,U,V Component Direction : Aparallel to hole Axis, Positive up, U-

6

			Commentary Perpendicular to hole axis :toward 12 O’clock when looking down hole, V-Perpendicular to hole axis toward 9 O’clock when looking down hole Downhole Magneto Metric Resistivity (DHMMR) was completed on the holes listed below by Gap Geophysics Australia Pty. Ltd. during May 2017. The holes surveyed were: 16VSCD007, 16VSCD008 and 16VSCD009 Specification of the survey were: Transmitter / Receiver: DigiAtlantis / Gap GeoPak HPTX-70 Dipole Sizes: ~1300 x 900m Current: ~50A Base Frequency: 0.5Hz Current Drilling Diamond drilling at Salt Creek used HQ and NQ core sizes. Coring was from surface using HQ. Core was changed to NQ when ground conditions were competent. All NQ core was orientated. All diamond core is stored in industry standard core trays labelled with the drill hole ID and core interval. Historical Drilling WSC and SCR series drilling was undertaken using an industry standard 5.5 inch face Reverse circulation (RC) sampling hammer. SCD and WSD series drilling was undertaken using NQ2 sized core bit.
Criteria JORC Code explanation			Commentary
			Perpendicular to hole axis :toward 12 O’clock when looking down hole, V-Perpendicular to hole axis toward 9 O’clock when looking down hole Downhole Magneto Metric Resistivity (DHMMR) was completed on the holes listed below by Gap Geophysics Australia Pty. Ltd. during May 2017. The holes surveyed were: 16VSCD007, 16VSCD008 and 16VSCD009 Specification of the survey were: Transmitter / Receiver: DigiAtlantis / Gap GeoPak HPTX-70 Dipole Sizes: ~1300 x 900m Current: ~50A Base Frequency: 0.5Hz
	 Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc.).		Current Drilling Diamond drilling at Salt Creek used HQ and NQ core sizes. Coring was from surface using HQ. Core was changed to NQ when ground conditions were competent. All NQ core was orientated. All diamond core is stored in industry standard core trays labelled with the drill hole ID and core interval. Historical Drilling WSC and SCR series drilling was undertaken using an industry standard 5.5 inch face Reverse circulation (RC) sampling hammer. SCD and WSD series drilling was undertaken using NQ2 sized core bit.

7

			Commentary Current Drilling  Diamond core recoveries were recorded as a percentage of the measured core vs the drilling interval. Core loss locations were recorded on core blocks by the drilling crew.  Diamond core was reconstructed into continuous runs where possible and metres checked against the depth as recorded on core blocks by the drilling crew. Historical Drilling  SCR and WSC series drilling:RC samples were collected to industry standards of the day. The locations of intervals of damp or wet samples or low recovery were recorded and entered into the database. The cyclone and splitter were routinely inspected and cleaned during the drilling to ensure that excessive material build up. Care was taken to ensure the split samples were of a consistent volume. There is no detected or material bias or relationships of sample recovery and grade.  SCD series drilling:All operators recorded diamond drill core recovery as a percentage of measured recovered cores versus drilled distance. Recoveries were generally high except when cavities were encountered in the oxide zone.
Criteria	JORC Code explanation		Commentary
Drill sample recovery	 Method of recording and assessing core and chip sample recoveries and results assessed.  Measures taken to maximise sample recovery and ensure representative nature of the samples.  Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.		Current Drilling  Diamond core recoveries were recorded as a percentage of the measured core vs the drilling interval. Core loss locations were recorded on core blocks by the drilling crew.  Diamond core was reconstructed into continuous runs where possible and metres checked against the depth as recorded on core blocks by the drilling crew. Historical Drilling  SCR and WSC series drilling:RC samples were collected to industry standards of the day. The locations of intervals of damp or wet samples or low recovery were recorded and entered into the database. The cyclone and splitter were routinely inspected and cleaned during the drilling to ensure that excessive material build up. Care was taken to ensure the split samples were of a consistent volume. There is no detected or material bias or relationships of sample recovery and grade.  SCD series drilling:All operators recorded diamond drill core recovery as a percentage of measured recovered cores versus drilled distance. Recoveries were generally high except when cavities were encountered in the oxide zone.

8

			Commentary Current Drilling Diamond drill core was geologically logged for the total length of the hole using a graphic logging method. All core was photographed and images are stored in the company database. Logging routinely recorded weathering, lithology, mineralogy, mineralisation, structure, alteration and veining. Logs were coded using the company geological coding legend and entered into the company database. Historical Drilling SCR WSC Series:RC drill holes were geological logged using a Company standard logging legend. All holes were logged at one metre interval taking a sample from the bulk sample bag. One or two metre samples were stored in chip trays for future reference. SCD and WSD Series: Diamond drill holes were geologically logged in their entirety and photographed. Diamond drilling was logged for geotechnical purposes. Logging was at an appropriate detailed quantitative standard to support future geological, resource, reserve estimations and technical/economic studies. All drill core and chip trays are stored at the companies Whim Creek facilities. Current Drilling  Downhole intervals selected for analysis were cut in half using a core saw. One half of the core was retained and the other half submitted for analysis.  The company included certified reference material (CRM) standards Historical Drilling  SCD and WSC Series: Diamond core was sawn with a diamond saw and half core samples taken for assay.  SCR and WSC Series: 1 metre RC samples were collected and split off the drill rig using a cone splitter. Approximately 90% of the samples were dry in nature. The sampling techniques for collection of the sample to be submitted to the assay facility for both diamond drilling and RC drilling are of consistent quality and appropriate. Duringdrillingand samplingoperations Venturex had on site,
Criteria	JORC Code explanation		Commentary
Logging	 Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.  Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.  The total length and percentage of the relevant intersections logged.		Current Drilling Diamond drill core was geologically logged for the total length of the hole using a graphic logging method. All core was photographed and images are stored in the company database. Logging routinely recorded weathering, lithology, mineralogy, mineralisation, structure, alteration and veining. Logs were coded using the company geological coding legend and entered into the company database. Historical Drilling SCR WSC Series:RC drill holes were geological logged using a Company standard logging legend. All holes were logged at one metre interval taking a sample from the bulk sample bag. One or two metre samples were stored in chip trays for future reference. SCD and WSD Series: Diamond drill holes were geologically logged in their entirety and photographed. Diamond drilling was logged for geotechnical purposes. Logging was at an appropriate detailed quantitative standard to support future geological, resource, reserve estimations and technical/economic studies. All drill core and chip trays are stored at the companies Whim Creek facilities.
Sub-sampling techniques and sample preparation	 If core, whether cut or sawn and whether quarter, half or all core taken.  If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry.  For all sample types, the nature, quality and appropriateness of the sample preparation technique.  Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.  Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.  Whether sample sizes are appropriate to the grain size of the material being sampled.		Current Drilling  Downhole intervals selected for analysis were cut in half using a core saw. One half of the core was retained and the other half submitted for analysis.  The company included certified reference material (CRM) standards Historical Drilling  SCD and WSC Series: Diamond core was sawn with a diamond saw and half core samples taken for assay.  SCR and WSC Series: 1 metre RC samples were collected and split off the drill rig using a cone splitter. Approximately 90% of the samples were dry in nature. The sampling techniques for collection of the sample to be submitted to the assay facility for both diamond drilling and RC drilling are of consistent quality and appropriate. Duringdrillingand samplingoperations Venturex had on site,

9

			Commentary technically competent supervision and procedures in place to ensure sample preparation integrity and quality. Some field duplicates were taken for RC drilling but not for diamond drilled samples. The sample sizes are considered appropriate given the relatively fine grained nature of the sulphide mineralisation which is not nuggetty in nature, the sampling methodology and the percent assay value ranges involved. Current Drilling The bulk density of the half drill core submitted to the laboratory for analysis was calculated by Venturex personnel on site using the wet and dry method. Samples from the current drilling were analysed Australian Laboratory Services Pty Ltd (ALS). Samples containing visual mineralisation including 5m above and below the mineralised interval were analysed via the following route Total pulverise including quartz wash of crusher and pulveriser units after each sample. Four acid digestion with analysis of Ag, Cu, Pb, Zn, S Fe by ore grade method AY-401/MEOG62 For samples returning values greater than 30% Zn or Lead (which is the upper limit for the MEOG62 method) the samples were reanalysed using the overlimit technique OG62h Au was analysed by fire assay AA25 As, Ba, Bi, Cb, Co, Ga, Mg, Mo, Sb, Tl, W analysed by ME-ICP61 Ge, In, Sn by ME-ICP62. Routine exploration samples were analysed via the following method Crush and pulverise no quartz wash. Four acid digestion Analysis for Ag, As, Ba, Bi, Cd, Co, Cu, Ga, Mg, Mo, Pb, S, Sb, Tl, W, Zn by MC-ICP61 Analysis of Ge, In, Sn by ME-ICP62
Criteria	JORC Code explanation		Commentary
			technically competent supervision and procedures in place to ensure sample preparation integrity and quality. Some field duplicates were taken for RC drilling but not for diamond drilled samples. The sample sizes are considered appropriate given the relatively fine grained nature of the sulphide mineralisation which is not nuggetty in nature, the sampling methodology and the percent assay value ranges involved.
Quality of assay data and laboratory tests	 The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.  For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.  Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.		Current Drilling The bulk density of the half drill core submitted to the laboratory for analysis was calculated by Venturex personnel on site using the wet and dry method. Samples from the current drilling were analysed Australian Laboratory Services Pty Ltd (ALS). Samples containing visual mineralisation including 5m above and below the mineralised interval were analysed via the following route Total pulverise including quartz wash of crusher and pulveriser units after each sample. Four acid digestion with analysis of Ag, Cu, Pb, Zn, S Fe by ore grade method AY-401/MEOG62 For samples returning values greater than 30% Zn or Lead (which is the upper limit for the MEOG62 method) the samples were reanalysed using the overlimit technique OG62h Au was analysed by fire assay AA25 As, Ba, Bi, Cb, Co, Ga, Mg, Mo, Sb, Tl, W analysed by ME-ICP61 Ge, In, Sn by ME-ICP62. Routine exploration samples were analysed via the following method Crush and pulverise no quartz wash. Four acid digestion Analysis for Ag, As, Ba, Bi, Cd, Co, Cu, Ga, Mg, Mo, Pb, S, Sb, Tl, W, Zn by MC-ICP61 Analysis of Ge, In, Sn by ME-ICP62

10

			Commentary Historical Drilling For the majority of both diamond and RC drilling Venturex has used Ultratrace Laboratories Pty Ltd (ALS). ALS has been used for the analysis of one batch of samples. Analytical techniques involve either a three or a four acid digest with a multielement suite. SCR Series: Ultratrace analysed elements Ag, Cu, Cr, Pb, Zn. As, Pb by ICPMS. Cu, Zn, Cr by ICPOES. ALS Laboratories Perth - elements analysed Ag, Au, Cu, Pb, Zn. Au by Fire assay with an AAS finish. Ag, Cu, Pb, Zn four acid digestion ICPES. SCD Series: ALS Laboratories Perth - elements analysed Au, Pt, Pd, Ag, Pb, Cu, Cr, In, Zn. Au, Pt, Pd by fire assay AAS finish. Ag, Pb, In by ICP103, and Cu, Cr, Zn by ICP 104. WSC and WSD series: ALS Laboratories Perth, elements analysed Au, Ag, Al, As, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe, K, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Sr Ti, V, W ,Zn. Au was by fire assay(Method AA25) and AAS. The rest were analysed by ICPAES (Method MEICP61). An ore grade method (OG62) was used on the known mineralised intervals. Elements were Ag, As, Cd, Cu, Fe, Mg, Pb, S, Zn. All methods of analysis are considered to provide total assay values. No geophysical tools were used to determine any element concentrations reported. Field duplicates were submitted by the company. Only laboratory inserted blanks and reference standards were inserted for QA/QC checks. The available results of this QA/QC work indicate no material bias to assay results used by this report.
Criteria	JORC Code explanation		Commentary
			Historical Drilling For the majority of both diamond and RC drilling Venturex has used Ultratrace Laboratories Pty Ltd (ALS). ALS has been used for the analysis of one batch of samples. Analytical techniques involve either a three or a four acid digest with a multielement suite. SCR Series: Ultratrace analysed elements Ag, Cu, Cr, Pb, Zn. As, Pb by ICPMS. Cu, Zn, Cr by ICPOES. ALS Laboratories Perth - elements analysed Ag, Au, Cu, Pb, Zn. Au by Fire assay with an AAS finish. Ag, Cu, Pb, Zn four acid digestion ICPES. SCD Series: ALS Laboratories Perth - elements analysed Au, Pt, Pd, Ag, Pb, Cu, Cr, In, Zn. Au, Pt, Pd by fire assay AAS finish. Ag, Pb, In by ICP103, and Cu, Cr, Zn by ICP 104. WSC and WSD series: ALS Laboratories Perth, elements analysed Au, Ag, Al, As, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe, K, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Sr Ti, V, W ,Zn. Au was by fire assay(Method AA25) and AAS. The rest were analysed by ICPAES (Method MEICP61). An ore grade method (OG62) was used on the known mineralised intervals. Elements were Ag, As, Cd, Cu, Fe, Mg, Pb, S, Zn. All methods of analysis are considered to provide total assay values. No geophysical tools were used to determine any element concentrations reported. Field duplicates were submitted by the company. Only laboratory inserted blanks and reference standards were inserted for QA/QC checks. The available results of this QA/QC work indicate no material bias to assay results used by this report.

11

			Commentary Current Drilling The significant intersections reported have been prepared by a geologist with more than of 30 years relevant experience. No twinned holes have been drilled. The company uses standard templates created in Excel to collate sample intervals, drill collar, downhole survey information which are emailed to the company main office were the information is loaded into a database. Geological descriptions are recorded in long hand prior to being summarised for digital data capture. No adjustments have been made to the assay data. Historical Drilling The drill intersections reported in this announcement are based on the the results previously reported in the company’s June 2010 announcements to the ASX. No specific twinned holes have been drilled. Data recording used a set of standard Excel templates on a data logger and uploaded to note book computer. The data were sent to the Perth office for verification and compilation into an SQL database by the in-house database administrator. Full copies are stored offsite. Full database verification of all historical information has been completed by the company. Current Drilling Drill hole collars were located using a DGPS operated by company personnel Diamond drill holes were down hole surveyed by a single shot camera every 30m. Historical Drilling  Drill hole collars were surveyed by a DGPS.  Holes were downhole surveyed by single shot Eastman camera and downhole gyroscopic surveys.  Detailed surface control has been established by photogrammetery.
Criteria	JORC Code explanation		Commentary
Verification of sampling and assaying	 The verification of significant intersections by either independent or alternative company personnel.  The use of twinned holes.  Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.  Discuss any adjustment to assay data.		Current Drilling The significant intersections reported have been prepared by a geologist with more than of 30 years relevant experience. No twinned holes have been drilled. The company uses standard templates created in Excel to collate sample intervals, drill collar, downhole survey information which are emailed to the company main office were the information is loaded into a database. Geological descriptions are recorded in long hand prior to being summarised for digital data capture. No adjustments have been made to the assay data. Historical Drilling The drill intersections reported in this announcement are based on the the results previously reported in the company’s June 2010 announcements to the ASX. No specific twinned holes have been drilled. Data recording used a set of standard Excel templates on a data logger and uploaded to note book computer. The data were sent to the Perth office for verification and compilation into an SQL database by the in-house database administrator. Full copies are stored offsite. Full database verification of all historical information has been completed by the company.
Location of data points	 Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.  Specification of the grid system used.  Quality and adequacy of topographic control.		Current Drilling Drill hole collars were located using a DGPS operated by company personnel Diamond drill holes were down hole surveyed by a single shot camera every 30m. Historical Drilling  Drill hole collars were surveyed by a DGPS.  Holes were downhole surveyed by single shot Eastman camera and downhole gyroscopic surveys.  Detailed surface control has been established by photogrammetery.

12

			Commentary Current Drilling The drill holes being reported are extensional holes testing downhole geophysical targets below the limit of previous drilling identified by modelling of historical geophysical data. Further drilling is required to establish sufficient continuity to define geological resources. Historical Drilling Diamond and Reverse Circulation drill spacing at the Salt Creek deposit ranges from 20m to 100m spacing. Geophysics DHTEM and DHMMR data sampling was completed at between 2m and 10m spacing down hole. This was deemed sufficient for the resolution required for inhole/offhole conductive units. Current and Historical Drilling The majority of the drilling at Salt Creek is inclined to the north-west which is considered appropriate for the geometry of the deposit. Geophysics  Planned transmitter loops/dipoles were optimised based on known geological strike/trends/dip/plunge.  Due to rugged topography, hole orientations and surface loop layouts could not always be perpendicular to stratigraphy which could affect electrical coupling and provide poor signals.
Criteria	JORC Code explanation		Commentary
Data spacing and distribution	 Data spacing for reporting of Exploration Results.  Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.  Whether sample compositing has been applied.		Current Drilling The drill holes being reported are extensional holes testing downhole geophysical targets below the limit of previous drilling identified by modelling of historical geophysical data. Further drilling is required to establish sufficient continuity to define geological resources. Historical Drilling Diamond and Reverse Circulation drill spacing at the Salt Creek deposit ranges from 20m to 100m spacing. Geophysics DHTEM and DHMMR data sampling was completed at between 2m and 10m spacing down hole. This was deemed sufficient for the resolution required for inhole/offhole conductive units.
Orientation of data in relation to geological structure	 Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.  If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.		Current and Historical Drilling The majority of the drilling at Salt Creek is inclined to the north-west which is considered appropriate for the geometry of the deposit. Geophysics  Planned transmitter loops/dipoles were optimised based on known geological strike/trends/dip/plunge.  Due to rugged topography, hole orientations and surface loop layouts could not always be perpendicular to stratigraphy which could affect electrical coupling and provide poor signals.

13

		Commentary Drill core is stored at the secure Venturex Whim Creek yard. The samples are collected from site by a transport company and delivered to the assay laboratory in Perth. Online tracking is utilised to track the progress of batches of samples. SGC have appropriate systems in place to ensure integrity/security of the data  No reviews have been undertaken
Criteria	JORC Code explanation	Commentary
Sample security	 The measures taken to ensure sample security.	Drill core is stored at the secure Venturex Whim Creek yard. The samples are collected from site by a transport company and delivered to the assay laboratory in Perth. Online tracking is utilised to track the progress of batches of samples. SGC have appropriate systems in place to ensure integrity/security of the data
Audits or reviews	 The results of any audits or reviews of sampling techniques and data.	 No reviews have been undertaken

14

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

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation		Commentary	Commentary	Commentary	Commentary	Commentary	Commentary	Commentary	Commentary	Commentary	Commentary	Commentary	Commentary	Commentary	Commentary	Commentary
Mineral tenement and land tenure status	 Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.  The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.		The Salt Creek deposit is located within M47/ 233 the registered owner of the tenements are Venturex Pilbara Pty Ltd, a wholly owned subsidiary of Venturex Resources Ltd The tenement is within land where native title has been determined. The traditional owners of the land are the Ngarluma People. The grant of the tenement predates native title, and is not subject to native title claim. There is a 2.5% NSR royalty payable to a third party on any production from the tenement. The tenements are granted Mining Lease in good standing and no known impediments exist.
Exploration done by other parties	 Acknowledgment and appraisal of exploration by other parties.		Previous exploration has been undertaken by a number of parties going back over 30 years. Modern exploration has been undertaken by Texasgulf Australia Pty Ltd, Aberfoyle Limited, Elf Aquitaine Australia Pty Ltd and Straits Resources Ltd,
Geology	 Deposit type, geological setting and style of mineralisation.		The Salt Creek deposit is a Volcanogenic Massive Sulphide Deposit
Drill hole Information	 A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:  easting and northing of the drill hole collar  elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar  dip and azimuth of the hole  down hole length and interception depth  hole length.  If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.		Details of the drill holes have been releases previously to the ASX (refer Announcement 12 Jan 2017), refer table below:														ASX
			Hole ID	MGA North (m)	MGA East (m)	RL( m)	Collar Azio	Coll ar Dip o	TD (m)	From (m)	To (m)	Thickn ess (m)	Cu %	Zn %	Pb %	Ag g/t	Au g/t
			16VSC D007	770464 3.07	574076. 2	19.2	330	-70	582. 5	434.0 448.4	444.58 455.33	10.58 6.93	1.49 1.18	4.7		5.27 13.1	0.32
			16VSC D008	770454 0.6	573876. 5	14.5	333	-70	516. 6	457.7 5	476.45	18.7	2.42
			16VSC D009	770454 6.0	573601. 9	15.0	327.7	-64	327. 7	265.1 5 279.1 4 287	275.00 280.86 288	9.85 1.72 1.0	0.34 0.25	8.76 12.2 7 1.72	1.44 5.97 2.12	14.8 30.5 7.0	0.15 0.18
Data aggregation methods	 In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.  Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.  The assumptions usedfor any reporting of metal equivalent values should be clearly stated.		 Drill intersections reported were calculated using a length weighted method  Drill core interval sent for analysis varied in length from 0.45m to 1.5m

15

Criteria	JORC Code explanation	Commentary
Relationship between mineralisation widths and intercept lengths	 These relationships are particularly important in the reporting of Exploration Results.  If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.  If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).	The Salt Creek deposit is steeply dipping; the drill holes were all inclined between 60 and 70 degrees to intersect the mineralisation. Drillholes are orientated to intersect mineralisation perpendicular to the strike of the geological units Onlydown hole intersections are reported.
Diagrams	 Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	A long section of the Salt Creek deposit is presented as Figure 1 in this announcement which shows the spatial relationship of the current drilling to the mineralisation.
Balanced reporting	 Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	Results of all drill results received to date on the Salt Creek deposit are presented in this announcement.
Other substantive exploration data	 Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	The Salt Creek deposit has had a significant body of work completed on it, including geophysical studies, metallurgical test work geotechnical and ground water studies. Previous drilling on the deposit has allowed the company to calculate a JORC 2012 compliant resource on the deposit. The resource stated is 1,003,000tonnes grading 2.0% Cu, 7.0% Zn,2.1% Pb,52.0g/t Ag, and 0.3g/t Au refer ASX announcement 30 September 2013
Further work	 The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).  Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive	The drill results will be incorporated into an updated resource. The geophysics results will be incorporated with the geological and structural model to define new drill targets down plunge of the current resource outline.

16