DEVELOP GLOBAL LIMITED — Regulatory Filings 2021

Jul 25, 2021

ASX: VXR

ASX/Media Release

26 July, 2021

Board Changes

Shirley In’t Veld appointed as Non-Executive Director; Bill Beament a ointed as MD pp

Venturex Resources (ASX: VXR) is pleased to advise that highly-regarded public company director and executive Shirley In’t Veld has been appointed as a Non-executive Director, effective today.

Venturex also advises that Anthony Reilly has resigned as an Executive Director and that Bill Beament has moved from Executive Director to Managing Director.

Ms In’t Veld has held a host of senior executive and board positions. She was the Managing Director of Verve Energy (2007 – 2012) and has held senior executive roles at Alcoa of Australia, WMC Resources Ltd, Bond Corporation and BankWest.

Ms In’t Veld was a Non-Executive Director of Northern Star Resources from September 2016 until June, 2021 and has held Directorships with CSIRO, Perth Airport, DUET Group, Asciano Limited and Alcoa of Australia.

Ms In’t Veld is currently a Non-Executive Director with NBN Co Limited, APA Group Limited and Alumina Limited.

Venturex Director Bill Beament said Ms In’t Veld’s extensive corporate experience would be invaluable to the Company as it implemented its strategy to play a key role in new generation energy and technology. A summary of key terms of Ms In’t Veld appointment are outlined in Annexure 1.

“I have worked closely with Shirley for several years and I consider her to be one of the most talented and valuable directors in Australia,” Mr Beament said.

“She will bring a wealth of corporate experience and strategic skills to Venturex. Given her background, knowledge and work ethic, I have no doubt Shirley will play a vital role in helping us refine and execute our growth strategy.”

Mr Beament thanked Mr Reilly for his long-standing commitment to the Company and the role he played in advancing its Sulphur Springs copper-zinc project in WA.

“Anthony has made an immense contribution to Venturex over a long period,” he said. “He also played a vital role in helping the Company execute the recent strategic funding package.

“On behalf of the Board, I wish him all the best with his future endeavours.”

Authorised for release to the ASX by the board of Directors.

Venturex Resources Limited ABN: 28 122 180 205 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

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For further information, please contact:

Investors

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

Media

Paul Armstrong 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 and Kangaroos Caves deposits, plus 27km of prospective tenements on the Panorama trend; and the JV on 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 to finance its flagship Sulphur Springs Project, paving the way for its transformation into a new mid-tier ASX-listed base metal producer in the medium 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.

Annexure 1 – NED Contract

The material terms of Shirley In’t Veld appointment as a Non-Executive Director, are as follows:

• Annual remuneration of $60,000 per annum, excluding superannuation contributions.

• 1,000,000 unlisted options, exercisable at $1.00 per share, with an expiry date of three years after the date of issue

• Options to vest 12 months post date of issue

• Issue of options is subject to shareholder approval

• Options to either be exercised or forfeited on ceasing to be a board member

Venturex Resources Limited (ASX: VXR)

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