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ASX : VXR Media Release VENTURE EX RESOURCES LIMITED March 2021 Quarterly Report 28 April 2021 Transformational quarter for Venturex as announcement of strategic funding package provides strong momentum towards funding and development of Sulphur Springs Highlights ► Highly regarded mining executive Bill Beament to cornerstone a ~ $ 58m strategic funding package , with significant positive equity market response . Mick McMullen , previous CEO and President of Detour Gold and Stillwater Mining Company , appointed as Executive Director . ► Site works commenced at Sulphur Springs for geotechnical and resource drilling and key secondary approvals advanced . ► Project Management Plan submitted with further environmental approvals received . ► Option exercise resulting in funds inflow of $ 2m . Northern Star Resources shareholding sold to Mineral Resources . ► Northern Star Resources loan repaid in full . ▸ ANX 80 % earn - in to Whim Creek Project completed . SULPHUR SPRINGS COPPER - ZINC PROJECT Venturex's flagship Sulphur Springs Project is located 112km south - east of Port Hedland and includes the proposed Sulphur Springs and Kangaroo Caves mines , together with tenements covering ~ 27km of the Panorama trend that contains numerous advanced VMS - style exploration targets . The Sulphur Springs Project hosts a total Mineral Resource ( Sulphur Springs + Kangaroo Caves ) comprising 17.4 million tonnes grading 1.3 % copper , 4.2 % zinc and 17g / t silver ( refer ASX announcements , 22 September 2015 and 21 March 2018 ) . Environmental Approvals Secondary approvals and permits required for the development of the Sulphur Springs Project continued to be progressed . Approvals obtained during the quarter included a Groundwater Licence and a Compliance Assessment Plan . Subsequent to quarter - end the Company received approval from the Department of Mines , Industry Regulation and Safety ( DMIRS ) for a Project Management Plan , allowing construction of the mine site access road to commence ( refer ASX release 15 April 2021 ) . Baseline monitoring was continued , which will provide useful data for the management of environmental risks associated with project implementation . Project Development The Company is progressing project implementation and development strategies through engagement with potential contractors for site works , including short - listing and tender preparation . 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 1