VRX SILICA LIMITED — Capital/Financing Update 2012

Nov 13, 2012

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14 November 2012

ASX ANNOUNCEMENT

Further encouraging copper mineralisation delivered from deep drilling at Thaduna/Green Dragon Copper Project

ASX: VRX

Highlights:

• Further significant copper mineralisation in drill core in high-grade shoot under Thaduna pit;

• Further deep drilling planned for Thaduna Q4 2012.

Australian base metals company Ventnor Resources Limited ( ASX: VRX ) (“Ventnor” or ‘”the Company”) has completed a deep drill hole program showing encouraging results at its flagship Thaduna/Green Dragon Copper Project, located 170km north of Meekatharra, Western Australia, in the Doolgunna district, 40km east of Sandfire’s DeGrussa project.

Capital Structure

Shares on Issue 69.6 million Unlisted Options 25.1 million Market Cap @ 50 ¢ $42 million (Fully Diluted) Cash on hand $4.6 million (at 30 September 2012)

Managing Director Bruce Maluish commented that the drilling continues to meet expectations with a significant intersection of copper mineralisation with strong bornite mineralisation over 11 metres at approximately 440 vertical metres below surface.

“This intersection has validated our decision to drill deeper down plunge from the mineralisation we have defined in our Resource,” Mr Maluish said.

Corporate Directory

Paul Boyatzis

Non-Executive Chairman

Bruce Maluish

Managing Director

John Geary

“We will complete the second proposed deep drill hole program into the EM anomaly and then drill another three holes at targets approximately 380 vertical metres to confirm the continuity down plunge.”

Executive Director

Peter Pawlowitsch

Non-Executive Director

“These holes have the potential to add significantly to the recently reported maiden resource. This hole adds another exciting chapter to the development of this project and underpins the company’s decision to drill deeper,” said Mr Maluish.

As announced on 25 September 2012, Ventnor committed to two deep-hole drilling programs below the Thaduna pit targeting an EM conductor (Thaduna Deeps 1) and also down dip of the drill defined mineralisation (Thaduna Deeps 2). The Thaduna Deeps 2 drillhole has been completed and designated THRC220. Logging and observations indicate that significant sulphide mineralisation has been encountered over a 28-metre intersection with significant bornite mineralisation over 11 metres.

Company Projects

Thaduna/Green Dragon Copper Project in the Doolgunna district, WA

Kumarina exploration project north of Meekatharra, WA

Warrawanda/Nickel Hills Nickel Project south of Newman, WA

Georgina Basin IOCG Project in western Queensland

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The photos above are from THRC220 within a 28 metre sulphide zone from 497 metres to 525 metres down hole with significant bornite mineralisation over 11 metres .

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Sulphides pictured are strongly disseminated bornite within quartz-rich graphitic shale and greywacke.

Exploration Update

Drilling to date at Thaduna comprises 221 RC holes for 29,041 metres with 60 Diamond Tails for 11,345 metres, totaling 40,386 metres.

On 25 October 2012, it was announced that two holes were planned to target mineralisation well below the current JORC Resource. Thaduna Deeps 2 (now THRC220) has successfully tested the down plunge extension of the high-grade Thaduna shoot at 497.8 metres down hole, 440 metres vertical. THRC220 intersected high-grade mineralisation which can be summarised as follows:

Hole ID
	Depth From	Depth To	DHlength	Comments
THRC220	497.0 497.8 0.8 weaklydisseminated bornite and chalcopyrite
	497.8 498.8 1.0 strong disseminated bornite
	498.8 500.2 1.4 very strong blebby bornite with chalcocite replacing
	500.2 503.8 3.6 very strongly disseminated bornite
	503.8 509.0 5.2 strong bornite stringers with some chalcopyrite
	509.0 517.0 8.0 weak bornite and chalcopyrite stringers
	517.0 520.0 3.0 weak chalcopyrite stringers
	520.0 522.6 2.6 weak disseminated bornite
	522.6 525.7 3.0 strong bornite veining with chalcopyrite

The mineralisation described above is visually estimated and reports as one of the best diamond core intersections to date on the project. The long section below shows that THRC220 has intersected high-grade copper mineralisation 150 metres below the deepest hole in the current Resource and has confirmed the down plunge extension of the Thaduna mineralisation.

Bornite is a copper sulphide which appears as copper-red color on fresh surfaces that tarnishes to various iridescent shades of blue to purple in places and often referred to as peacock ore . It is important as an ore for its copper content of about 63 percent by mass and with a high density of 5 tonnes per cubic metre it can contribute a significant amount of metal by volume.

This hole has been drilled at 60 [o] dip and at an azimuth of 60 [o] with final surveys pending. As such the intersection is close to true width. The core will be logged on site then transported to Perth for cutting and assay. Assays are expected in 4-6 weeks depending on interruptions due to the Christmas period.

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Thaduna Deeps Program

Based on the intersection in THRC220, an additional three 500-metre-deep diamond holes are planned to cover the strike length of the interpreted high-grade shoot.

In addition, Thaduna Deeps 1, targeting the DHEM off-hole conductor from THRC207, is yet to be drilled. It is expected that all of these holes will be completed prior to the end of the year.

Results for these holes and an additional 12 which were not included in the Resource estimation, will be included in an update to the JORC resource estimate in Q1 2013.

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Grade thickness long section showing extra deep drill holes at Thaduna

Below is the current drill status plan at Thaduna showing the holes that have been completed and the Thaduna deep diamond holes that are now planned.

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Drill Hole Location Plan - Thaduna

Competent Person’s Statement

The information in this release that relates to Exploration Results is based on information compiled by Mr David Reid who is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM). Mr Reid is an employee of Ventnor Resources Limited. Mr Reid has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the “2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Reid consents to the inclusion in this report of the matters based on information provided by him and in the form and context in which it appears.

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For further information please contact:

Bruce Maluish, Managing Director brucem@ventnorresources.com.au www.ventnorresources.com.au

Media: Warrick Hazeldine/Karen Oswald Cannings Purple Communications Tel: +61 8 6314 6300 whazeldine@canningspurplecom.com.au

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ABOUT VENTNOR

Ventnor Resources is a base-metals focused explorer with copper targets at the historic Thaduna/Green Dragon project, 170 km north of Meekatharra in Western Australia. Also in Western Australia, 40 km south of Newman, are the Warrawanda and Nickel Hills nickel projects and the extensive Kumarina exploration project 200 km north of Meekatharra. In Western Queensland, the Georgina Basin project lies within the Mt Isa Inlier which is well endowed with Iron Oxide Copper Gold (“IOCG”) systems and sulphide base-metal deposits. Ventnor also has holdings in the NT.

Known Copper and Nickel Mineralisation

The Thaduna/Green Dragon copper project has historic mine production; copper mineralisation has been confirmed with three phases of exploration drilling, with a fourth phase underway. The prospectivity of the Warrawanda and Nickel Hills nickel projects was increased when nickel copper gossans were identified in recent years. Further work is planned for late 2012.

Proven Management

The Ventnor directors have extensive experience in the management of publicly listed mining and exploration companies.

PROJECT LOCATIONS

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