DEVELOP GLOBAL LIMITED — Regulatory Filings 2018

Aug 20, 2018

Building a Mid-Tier Base Metals Business

21 August 2018

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ASX/Media Release

VXR - August Investor Presentation

Venturex Resources (ASX: VXR) is pleased to provide a copy of the Company's latest investor presentation which it is using as the basis for meetings with shareholders, investors, brokers and institutions.

The presentation highlights recent progress at the 100%-owned Sulphur Springs CopperZinc Project in the Pilbara, where it is now in the final stages of a Definitive Feasibility Study.

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AJ Saverimutto Managing Director 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

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

Venturex Resources Limited

Level 2, 91 Havelock Street West Perth WA 6005

ASX: VXR ABN: 28 122 180 205

ASX: VXR

Highlights

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Outstanding metallurgical results Feasibility study now in final stages Capital consolidation completed One of the few emerging base metal companies on the ASX

Getting ready to go at Sulphur Springs

August 2018 Investor Presentation

AJ Saverimutto – Managing Director

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Disclaimer

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 forwardlooking 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 forward looking 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.

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 and 23 March 2018.

The information contained in this presentation relating to the Kangaroo Caves Resources was previously released in announcements issued 22 September 2015, 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 – Refer Edition of the “Australasian Code for Reporting of Mineral Resources”.

The information contained in this presentation relating to the Sulphur Springs Resources was previously released in announcements issued 21 March 2018, based on information compiled or reviewed by Mr David Milton of Mil Min 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 – Refer 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 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 information in the report that relates to interpretation of metallurgical test work is based on information compiled or reviewed by Mr Giddy an employee of Lycopodium Minerals Pty Ltd. Mr Giddy is a member of the Australasian Institute of Mining and Metallurgy. Mr Giddy has sufficient experience relevant to the style of mineralisation, type of deposit under consideration and to the activity being undertaken to qualify 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.

Building a Mid-Tier Base Metals Business

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Market Outlook – Base Metals Are Back

5 Year LME Cu Price v Warehouse Stocks (to 10 Aug 18)

Changing Markets for Cu and Zn

• Lack of near-term projects

• Lack of investment in exploration

• Grade decrease in projects globally

• Geopolitical risk in key producing countries

• New application opportunities – such as EVs and Renewable Energy

Source: Bloomberg

5 Year LME Zn Price v Warehouse Stocks (to 10 Aug 18)

Source: Bloomberg

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Building a Mid-Tier Base Metals Business

New Innovations Driving Copper Demand

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25 kg
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75 kg
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Copper in the Headlines

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SULPHUR SPRINGS PROJECT UPDATE

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Sulphur Springs – A Cornerstone Asset with Width, Grade and Scale

Strategically Located

Excellent Ore Inventory

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Resources [1]
Mt Cu % Zn % Pb % Ag
17.4 1.3 4.2 0.2 17
Reserves [2]
Mt Cu % Zn % Pb % Ag
7.28 1.2 3.5 0.1 14
Project Advancement Update
Permitting
DFS
Financing
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
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1Includes Kangaroo Caves and Sulphur Springs Resources – Refer ASX announcements 22 September 2015 and 21 March 2018

2Refer ASX announcements 1 July 2016

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Exploration Potential Being Realised at Sulphur Springs

• 1

• 1. Q1 Infill Drilling complete

• ~2,500m

• Confirmed presence of high grade Supergene cap

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1. Heli and Ground EM s Survey

completed on Panorama Trend

• Area never flown before

• 11 additional targets identified

• 1Refer ASX announcements 18 January 2018

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Building a Mid-Tier Base Metals Business

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Key Milestones Being Achieved

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1. EPA Approval Lodged

2. Field surveys completed for flora, fauna, stygofauna, hydrogeology

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• Site visit by Government representatives complete

• Assessment anticipated completion by Q4 2018

• 1

• 1. Copper Met Test work Completed

• Transitional Copper concentrate grades up to 26.8% and recoveries up to 91.7%

• Fresh Copper concentrate grades up to 26.4% and recoveries up to 95.3%

• • Fresh Zinc concentrate grades up to 60.2% and recoveries up to 93.1%

Material Type	Sample Head Grade (%)	Recovery (%)	Concentrate Grade (%)
Cu Fresh	1.41 – 1.91	86.5 – 95.3	24.7 – 26.4
Zn Fresh	3.91 –5.83	87.5–93.1	53.2 –60.2
Cu Transitional	2.97 –3.04	89.7 –91.7	25.5– 26.8
Cu Supergene*	2.61 – 2.71	88.0–89.5	16.0– 16.6

1Refer ASX announcements 6 August 2018

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Building a Mid-Tier Base Metals Business

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DFS Nearing Completion

DFS 5.

• Mine design and surface layout complete

• TSF design and layout complete

• Capex optimization

6. Infrastructure

• Camp purchased

• 1.25MMtpa process plant (VES 1.0 MMtpa)

• Infrastructure and long lead items identified

• Discussions with key contractors underway

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Project Financing Discussions Underway

7. Banking and Financing

• Burnvoir Appointed

• Discussions with Major Banks

• Discussions with Offtakers

8. Corporate

• MD Appointment

• Share Consolidation 15:1

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Path Forward

• Complete DFS Study

• Complete Project Financing

• “Panorama Trend” Exploration program

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Path forward

Exploration

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Sulphur Springs Resource

Sulphur Springs Resource

• (13.8Mt @ 3.8% Zn & 1.5% Cu)

• Current resource is open at depth and along strike.

• Discrete, steeply east-plunging, high-grade Cu and Zn shoots identified; poorly closed-off.

• Deep drilling planned to target the continuation of the highgrade shoots.

• 100-150m drilling centres.

• Follow-up down hole geophysics (DHEM) to identify additional massive sulphide mineralisation to ~100m.

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VXR Exploration Strategy

Systematic – Multi Phase Exploration Strategy

1. Targeted extension drilling to add significant value/LOM to the current Resources:

2. Sulphur Springs (13.8Mt @ 3.8% Zn & 1.5% Cu).

3. Kangaroo Caves (3.55Mt @ 6.0% Zn & 0.8% Cu).

4. Drill test near-mine and Brownfields targets.

5. Drill ready EM and geochemical targets.

6. Develop and test Panorama Trend targets/prospects.

7. Previous massive sulphide intersections – Drill ready.

8. Extend Heli-EM coverage.

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In Summary –The Venturex Evolution

Venturex is an excellent value proposition

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Value

Markets

Key Shareholders

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Exploration

Strong Vision

Strong Cu and Zn Support of major 27 km of ground Robust strategy Cornerstone assets futures markets shareholders Northern Similar to Sulphur Star Resources Springs Strong vision Excellent economics We’re undervalued compared to our peers Actively supporting Locally and regionally New management DFS and project build

Building An Australian Base Metals Business

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Thank You

Registered Office: Level 2, 91 Havelock Street West Perth WA 6005

T: + 61 8 6389 7400 F: + 61 8 9463 7836

Media: Nicholas Read Read Corporate Ph: +61 8 9388 1474 Email: info@readcorporate.com.au

AJ Saverimutto – Managing Director

admin@venturexresources.com www.venturexresources.com

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