DEVELOP GLOBAL LIMITED — Regulatory Filings 2020

May 20, 2020

ASX: VXR

ASX/Media Release

21 May 2020

MINISTERIAL APPROVAL RECEIVED FOR SULPHUR SPRINGS COPPER-ZINC PROJECT – PILBARA REGION, WA

Environmental approval marks completion of comprehensive and rigorous assessment

HIGHLIGHTS:

• Environmental approval for the Sulphur Springs Copper-Zinc Project granted by the Western Australian Minister for Environment.

• Approval will enable regulatory authorities to issue required secondary permits.

Australian base metal developer Venturex Resources Ltd (“ Venturex ” or “ the Company ”) (ASX: VXR) is pleased to advise that the Western Australian Minister for Environment granted approval for the Sulphur Springs Copper-Zinc Project (“ Sulphur Springs ” or the “ Project ”) on 20 May 2020.

The approval represents the conclusion of a comprehensive and rigorous environmental assessment process initiated in late 2016.

The conditions of approval, set out in Ministerial Statement 1134, are standard for the resource sector. Work continues on the preparation of applications for secondary permits required to implement the Project.

Venturex Executive Director, Mr Anthony Reilly, commented: “ The receipt of Ministerial approval is a very significant milestone for the Company and marks the culmination of a considerable, determined effort by the Venturex team and our consultants over the last few years.

“Importantly, the approval substantially reduces the regulatory risk for Sulphur Springs and facilitates ongoing engagement with potential project partners and financiers. We now move to finalise key secondary permit applications and prepare for project execution in the full knowledge of the Ministerial approval and associated conditions. ”

Authorised for release to the ASX by Anthony Reilly, Executive Director.

Anthony Reilly Executive Director

For further information, please contact:

Investors

Media

Anthony Reilly Nicholas Read Venturex Resources Limited Read Corporate Ph: +61 8 6389 7400 Ph: +61 8 9388 1474 Email: admin@venturexresources.com 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 and Kangaroos Caves deposits, 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. The Company’s focus is on securing environmental approvals and project finance for its flagship Sulphur Springs Project, paving the way for its transformation into a new mid-tier ASX-listed base metal producer in the near term. This will position it to be a long-term supplier of copper and zinc to global markets at a time when significant shortfalls are expected for both metals, especially copper.

Venturex Resources Limited (ASX: VXR) Level 2, 91 Havelock Street, West Perth WA 6005 | PO Box 585, West Perth WA 6872 T: +61 8 6389 7400 | admin@venturexresources.com |www.venturexresources.com ABN: 28 122 180 205

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