DEVELOP GLOBAL LIMITED — Regulatory Filings 2018

Sep 11, 2018

Building a Mid-Tier Base Metals Business

ASX/Media Release

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12 September 2018

Northern Star to lend Venturex A$2m to complete DFS on Sulphur Springs Copper-Zinc project in WA

Venturex Resources Ltd (“the Company” or “Venturex”) is pleased to advise that it has entered into a binding Loan Agreement with its major shareholder, Northern Star Resources Limited (ASX: NST), (“Northern Star”), under which Northern Star will advance a A$2 million unsecured loan for the purpose of Venturex completing the Definitive Feasibility Study (“DFS”) on its flagship Sulphur Springs VMS Copper-Zinc Project in WA.

The unsecured loan, which will have a 12-month term, will accrue interest at the rate of 8% per annum from the date of advance, payable in cash on repayment of the loan.

The loan is repayable in cash or at Northern Star’s election by conversion to Venturex shares:

• (a) at the same issue price as any rights issue or placement conducted by Venturex before the loan has been repaid, or in the absence of a capital raising,

• (b) at an issue price equal to the 10-day volume weighted average price (VWAP) of Venturex shares prior to the date on which notice of repayment is given.

Usual and appropriate events of default apply during the loan period, requiring repayment within 7 business days, including an issue of securities without Northern Star’s consent (other than under Venturex employee incentive schemes or as approved by shareholders on 15 August 2018), this consent not to be unreasonably withheld, or divestment or acquisition of material assets without Northern Star’s consent.

Venturex Managing Director, AJ Saverimutto, said the loan clearly demonstrated Northern Star’s strong support of the Sulphur Springs Project.

“This is a strong show of support by our major shareholder and a significant vote of confidence in the quality of the Sulphur Springs Project and the robustness of our development and execution strategy,” he said.

“Northern Star supports the Venturex Board’s decision to bring Sulphur Springs into production as rapidly as possible,” he said. “While we have made excellent recent progress towards that objective, the Board has decided that it is not in shareholders’ best interests to raise equity capital in the current environment”.

“Northern Star’s support through this bridging loan will allow us to push ahead at full speed with the completion and delivery of the DFS without having to dilute existing shareholders. We are extremely grateful for their support, which will ensure that Venturex is well placed to realise its objective of becoming a significant new midtier Australian base metals producer.”

AJ Saverimutto Managing Director

T : +61 8 6389 7400 admin@venturexresources.com www.venturexresources.com

Venturex Resources Limited ASX: VXR ABN: 28 122 180 205

Level 2, 91 Havelock Street West Perth WA 6005

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For further information, please contact:

Investors

AJ Saverimutto Venturex Resources Limited Ph: +61 8 6389 7400 Email: admin@venturexresources.com

Media

Nicholas Read Read Corporate Ph: +61 8 9388 1474 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 4 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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