Venturex Resources : High Grade Assays Confirm Extension of Salt Creek Zinc-Copper Mineralisation

High-grade assays confirm extension of Salt Creek zinc- copper mineralisation Highlights

• High grade Zinc and Copper assays received for Salt Creek drill program. Best results include:
  • 18.7m @ 2.42% copper in hole 16VSCD008 from 457.75m downhole
  • 9.85m @ 8.76% zinc and 1.44% lead from 265.15m downhole and 1.72m @ 12.2% zinc and 5.97% lead from 279.14m downhole in hole 16VSCD009
  • 10.58m @ 1.49% copper from 434.0m downhole and 6.9m @ 1.18% copper and 4.7% zinc from 448.4m in hole 16VSCD007
• Assays demonstrate the prospectivity of the Salt Creek VMS system continues to improve at depth
• Down plunge extension of mineralisation confirmed
• Follow up downhole geophysics planned for Q1 2017
• Results continue to support the potential to expand the Resource base at the Whim Creek Project

Key Commentary

Venturex Resources Limited (ASX: VXR "Venturex" and the "Company") is pleased to announce that it has received the final assays for the Salt Creek diamond drilling program completed in late 2016. See ASX releases dated 22 November 2016, 29 November 2016 and 6 December 2016.

Salt Creek is part of Venturex's 100% owned Whim Creek Zinc-Copper Project. Salt Creek currently has a Resource of 1Mt at 7.0% Zn, 2.0% Cu, 2.1% Pb and 52g/t Ag (see ASX Release, 8 October 2013).

The Salt Creek program (completed in late 2016) was an aggressive step out program designed to test for down plunge extensions of known mineralisation. The holes were targeted on the basis of a revised structural model of the deposit

ASX Announcement ASX Code: VXR

Released: 12 January 2017

For further details John Nitschke Managing Director T: [phone]

[e-mail]

Board

Tony Kiernan

Chairman

John Nitschke

Managing Director

Anthony Reilly

Non-Executive Director

Darren Stralow

Non-Executive Director

Trevor Hart

Company Secretary

Contact Details

Registered Office

Level 2

91 Havelock Street West Perth WA 6005

T: [phone]

F: [phone]

[e-mail] www.venturexresources.com

ABN: 28 122 180 205

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and downhole geophysical anomalies derived from the processing of historical geophysical data.

The assays confirm that the program has successfully extended high grade mineralisation down-plunge at Salt Creek; with the intersections demonstrating the potential of the Salt Creek system at depth (see Figure 1).

The results released today demonstrate that a combination of a sound structural model with geophysical anomalies identified by downhole geophysical surveys is highly effective in identifying drilling targets at Salt Creek.

This is important because it shows that the same approach can be used to identify further drilling targets.

Hole 16VSCD008 was designed to test the down plunge extension of the central copper rich lode at Salt Creek (see Figure 1). The hole intersected 18.7m @ 2.42% Copper in silica sericite chlorite altered lapilli tuff from 457.75m downhole. The high degree of alteration seen within this hole increases the Company's confidence that the prospectivity of this lode continues to improve with depth.

Hole 16VSCD009 was designed to test the down plunge extension of the zinc rich western lode at Salt Creek (see Figure 1). The hole intersected 9.85m @ 0.34% Copper, 8.76% Zinc, 1.44% Lead from 265.15m downhole and 1.72m grading 12.27% Zinc and 5.97% Lead from 279.14m down hole within a sequence of chlorite and carbonate altered sandstones and siltstone. A further 1m @ 1.7% Zinc and 2.12% Lead from 287.0m downhole is interpreted as remobilised sulphides within altered sandstones.

Hole 16VSCD007 was designed to test the down plunge extension of the eastern zinc rich lode at Salt Creek, in a position approximately 110m down plunge from the previous hole WSD130 (see Figure 1).

Hole 16VSCD007 is interpreted to have intersected the mineralisation below the plunge of the main lode and intersected 10.58m @ 1.49% Copper in a stockwork copper zone from 434.0m and 6.93 m @ 1.18% Copper, 4.7% Zinc and 0.32g/t Gold in a massive sulphide zone from 448.4m downhole.

Next Steps

Follow up downhole geophysical testing is planned for Salt Creek later this quarter. In addition, the Company's geologists are re-logging a number of historical diamond holes in order to improve the geological model for the deposit. This work includes additional sampling of mineralisation not identified when the holes were initially logged. It is anticipated that the combination of this work will define a new round of drill targets at Salt Creek.

Management Comment

Venturex Managing Director John Nitschke said the latest results were outstanding for several reasons.

"We sought to extend the known high grade mineralisation in three lodes at Salt Creek and have been successful with all three," he said. "The results confirm the down plunge continuation of mineralisation and support the Company's view that the prospectivity of the Salt Creek system is increasing at depth".

"This highlights the potential to increase the Resource base at Whim Creek, where the existing infrastructure on a brownfields mining site that means a sulphide processing facility can be built quickly and cheaply, as identified in the 2010 Whim Creek Scoping Study (see ASX release 26 November 2010) to meet the improving sentiment for base metals".

"The ongoing work program will significantly improve our understanding of the Salt Creek system and we expect that it will generate more drill targets with potential to further extend the mineralisation".

"This is a fantastic start to 2017 and with a combination of favourable commodity prices and the culmination of the technical studies on our flagship Sulphur Springs Project that we carried out last year, 2017 is shaping up to be a rewarding period for Venturex and its shareholders."

Background

Salt Creek is part of the larger 100% owned Whim Creek Project. The Whim Creek Project is located 115km south-west of Port Hedland in Western Australia, and includes the Whim Creek, Mons Cupri, Salt Creek and Evelyn deposits plus 18,500 hectares of tenements covering the highly prospective Whim Creek basin. Total JORC Resources within the Whim Creek Project currently stand at 7.2Mt at 2.3% Zinc and 1.3% Copper (see ASX release dated 8 October 2013).

JOHN NITSCHKE

Managing Director

For further information, please contact:

Investors

John Nitschke / Trevor Hart Media:

Venturex Resources Limited Paul Armstrong - Read Corporate

Ph: [phone] Ph: [phone]

Email: [e-mail] Email: [e-mail]

Figure 1: Salt Creek Schematic Composite Long Section

Table 1 Drill Results Table

Hole ID	MGA North (m)	MGA East (m)	RL(m)	Collar Azi o	Collar Dip o	TD (m)	From (m)	To (m)	Thickness (m)	Cu %	Zn %	Pb %	Ag g/t	Au g/t
16VSCD007	7704643.07	574076.2	19.2	330	-70	582.5	434.0 448.4	444.58 455.33	10.58 6.93	1.49 1.18	4.7	5.27 13.1	0.32
16VSCD008	7704540.6	573876.5	14.5	333	-70	516.6	457.75	476.45	18.7	2.42
16VSCD009	7704546.0	573601.9	15.0	327.7	-64	327.7	265.15 279.14 287	275.00 280.86 288	9.85 1.72 1.0	0.34 0.25	8.76 12.27 1.72	1.44 5.97 2.12	14.8 30.5 7.0	0.15 0.18

Note: Hole collar surveyed by DGPS . Intersections are downhole intersections.