30 April 2015 ASX ANNOUNCEMENT MARCH QUARTER 2015 ACTIVITY STATEMENT Ventnor Resources Ltd (Ventnor or the Company) is a basemetals focused explorer which has aggressively explored the historic Thaduna/Green Dragon copper project located 170km north of Meekatharra in Western Australia and entered in to a JV agreement with Sandfire Resources NL (Sandfire) in order to fast-track development while removing the need for Ventnor to raise additional funding for mine development. ASX: VRX Capital Structure Shares on Issue 118.3 million Unlisted Options 3.25 million During the 2014 year the Company applied for a tenement adjacent to the Tropicana Gold Mine which is prospective for gold and which was granted 31 March 2015. Preliminary exploration has confirmed very high grade rock chip assays for gold which has confirmed the prospectivity of the exploration target. Market Cap @ 4¢ a share Rock chip assay results include: Paul Boyatzis Non-Executive Chairman • • • • • BD016 BD100 BD101 BD102 BD103 64 g/t Au 568 g/t Au 213 g/t Au 70 g/t Au 626 g/t Au Ventnor also has 100% ownership of the Warrawanda nickel project in Western Australia, 40km south of Newman, and the Georgina Basin project in western Queensland’s Mt Isa Inlier which is well endowed with iron oxide copper gold (“IOCG”) systems and sulphide base metal deposits. $4.9 million (Fully Diluted) Corporate Directory Bruce Maluish Managing Director Peter Pawlowitsch Non-Executive Director John Geary Company Secretary Company Projects Thaduna/Green Dragon Copper Project in the Doolgunna district, WA (subject to SFR Farm-in) Warrawanda Nickel Project south of Newman, WA Georgina Basin IOCG Project in western Queensland Recent grant of a tenement adjacent to the Tropicana Gold Mine The Company is actively assessing other base metal projects in Australia. EXPLORATION Black Dragon New Project The new tenement application ELA39/1828 was announced by Ventnor on 21 August 2014. The tenement is adjacent to the jointly owned Anglo Gold Ashanti/Independence Group Tropicana Gold mine. EL39/1828 comprises 42 graticular blocks and has within it the Black Dragon Prospect which has been the subject of recent exploration. The Company undertook a review of the available data and undertook a field trip to confirm selected exploration results. Subsequent to the quarter end the Company received assays from rock chip samples which were announced 28 April 2015. High Grade Rock Chip assays Visible gold in quartz Tenement Location Plan TMI image covering the tenement area Additional Exploration Targets REGIONAL GEOLOGY The Black Dragon project tenure is located in the northern portion of the Albany-Fraser Orogen, a tectonic belt that exists on the southern margin of the Archean Yilgarn Craton. The belt is divided into a number of fault bound lithological zones, comprising gneisses, amphibolite to granulite metamorphic facies with reworked Archean and Proterozoic rocks, and granitoids. The main lithological domains are the Mckay Creek Metasyenogranite on the western half of the lease and the Proterozoic Biranup Zone on the eastern side. The Mckay Creek Metasyenogranite is a metasyenogranite mingled with metagabbro and includes intrusions of the Bobbie Point metasyenogranite and remnants of the Voodoo Child Formation and Tropicana Gneiss. The Biranup Zone is a metagranite and meta syenogranite group of intrusives ranging in composition from syenite to diorite, mingled with gabbroic rocks, hybrid rocks and remnants of Archean rocks and younger gabbroic rocks. PROSPECT GEOLOGY The area of subcrop is surrounded by colluvium and wind-blown sand that obscures any additional subcrop. Ventnor has confirmed the historical high-grade rock chip results with 32 samples taken with 15 samples greater than 1 g/t Au with a peak value of 626 g/t and 11 samples greater than 10 g/t Au. Gold mineralisation is associated with quartz veining, hematite breccia and iron rich sheared basement schist and gneiss. Veining is variable in geometry from 30cm to 2 metres wide with strike in outcrop observed from 10 metres to 30 metres. Multiple mineralised veins are observed with a principal orientation of 060 degrees and also at 350 to 010 degrees. The limited historical drilling to date has failed to explain the surface gold anomalism, or provide information on the orientation, genesis or basement source for the mineralisation. A POW has been lodged for an initial drill program to investigate shallow mineralisation and determine the orientation of the mineralisation. Sample ID BD001 BD002 BD003 BD004 BD005 BD007 BD008 BD009 BD010 BD011 BD012 BD013 BD015 BD016 BD017 BD018 BD019 BD100 BD101 BD102 BD103 BD104 BD105 BD106 BD107 BD108 BD109 BD110 BD111 BD112 BD113 BD114 Au Av 28.0 0.8 0.1 25.9 0.1 0.2 4.9 0.1 0.2 0.1 0.0 0.0 2.2 63.8 10.0 1.3 0.1 568 213 70.1 626 0.6 0.2 13.6 0.1 0.2 2.6 0.3 15.2 0.1 0.1 10.8 Description laminated grey vein quartz +hematite breccia vein quartz + hematite laminated white vein quartz laminated white vein quartz grey vein quartz red saprock schist rose vein quartz white saprock schist Hematite rich saprock laminated white vein quartz laminated white vein quartz +mica schist white vein quartz white vein quartz laminated white-rose vein quartz red jasper +hematite veining grey vein quartz white vein quartz Hematite rich quartz vein (visible Au) Hematite rich quartz vein Hematite rich quartz vein (visible Au) Hematite rich quartz vein (visible Au) white-rose vein quartz foliated saprolitic gneiss vein quartz massive saprock white-grey vein quartz Goethite rich saprock Goethite rich saprock rose vein quartz white vein quartz + saprock saprock + milky white quartz rose vein quartz visible Au Competent Person’s Statement The information in this release that relates to Exploration Results is based on and compiled by Mr Steve Denn who is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM). Mr Denn is a contractor to Ventnor Resources Limited. Mr Denn 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 “2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Denn 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. Thaduna/Green Dragon Copper Project Sandfire Farm-In and Joint Venture The objective of the Ventnor/Sandfire JV was to deliver maximum future value and minimise dilution for shareholders and represents a unique solution for the Company to secure the development of Thaduna/Green Dragon with an established copper producer in the region. The JV will expedite the assessment of the possibility of developing the Project utilising Sandfire’s existing plant and infrastructure. This will substantially reduce the overall capital required and potentially bring forward the timing of achieving first production and cash flow by a meaningful period. It will remove the need for Ventnor to raise substantial finance (either equity or debt) and reduce the risk of project feasibility and development through a farm out and funding solution coupled with a toll milling arrangement at a low operating cost. The key elements of the transaction comprise of a farm-in, funding and toll treatment agreement with Sandfire to advance the Project to production utilising Sandfire’s modern production facilities at its DeGrussa Copper Project. Sandfire initially acquired a 35% interest in the Project by paying $3M upfront directly to Ventnor. Sandfire can then acquire an additional 16% (total 51%) by spending the second $3M tranche and a further 29% (total 80%) for the third $3M directly on the Project. Ventnor retains an option to acquire Sandfire’s interest if Sandfire fails to commence production from the Project within five years. Thaduna/Green Dragon Joint Venture Progress by Sandfire The Scoping Study results compiled last quarter determined that, while the Project is NPV positive under current market conditions, further drilling is required to increase the Resource potential with the objective of enhancing the project’s financial returns. During the March quarter a review of the geology model targeting increased controls on the plunge angles and planning of potential future drill holes was undertaken. Future work will be undertaken in line with the Ventnor JV agreement, with the aim of reviewing the Resource and Scoping Study at the completion of drilling. Warrawanda The Warrawanda Nickel Project is located 60 kilometres south of Newman, in the Sylvania Inlier, an Archaean granite-greenstone terrane in the Pilbara region of Western Australia. The Warrawanda Nickel Project is a 16km-long sequence of steeply-dipping rocks dominated by ultramafic and mafic rocks with lesser clastic components, including shale. The rock units intersected are predominantly ultramafic Komatiites with serpentine after olivine, mafic rocks as well as minor fine-grained clastic rocks and felsic dykes. Ventnor has entered Confidentiality Agreements with selected suitably qualified prospective JV partners and continues to negotiate potential terms. Georgina Basin The Company has been evaluating quotes for AMT surveys for the Georgina IOCG Project in Queensland. The Company has also been actively seeking JV partners. Competent Person’s Statement The information in this release that relates to Exploration Results is based on and compiled by Mr Steve Denn who is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM). Mr Denn is a contractor to Ventnor Resources Limited. Mr Denn 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 “2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Denn 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. CORPORATE There was no corporate activity undertaken during the quarter. For further information please contact: Bruce Maluish, Managing Director brucem@ventnorresources.com.au Tel: +61 8 9226 3780 www.ventnorresources.com.au Media: Warrick Hazeldine/Michael Vaughan Cannings Purple Communications Tel: +61 8 6314 6300 whazeldine@canningspurple.com.au mvaughan@canningspurple.com.au Interests in Mining Tenements WESTERN AUSTRALIA Thaduna/Green Dragon Project - Copper Tenement Status M52/1060 M52/1061 L52/149 L52/150 Granted Granted Granted Granted Interest at beginning of quarter (%) 65 65 65 65 Interests sold to JV partner (%) - Interests acquired or increased (%) - Interest at end of quarter (%) 65 65 65 65 Interest at beginning of quarter (%) 100 Interests relinquished, reduced or lapsed (%) - Interests acquired or increased (%) - Interest at end of quarter (%) 100 Interest at beginning of quarter (%) 100 100 100 100 100 100 100 Interests relinquished, reduced or lapsed (%) - Interests acquired or increased (%) - Interest at end of quarter (%) 100 100 100 100 100 100 100 Interest at beginning of quarter (%) 100 Interests relinquished, reduced or lapsed (%) - Interests acquired or increased (%) - Interest at end of quarter (%) 100 Interest at beginning of quarter (%) 100 Interests relinquished, reduced or lapsed (%) - Interests acquired or increased (%) - Interest at end of quarter (%) 100 Black Dragon Project - Gold Tenement Status E39/1828 Granted Warrawanda Project - Nickel Tenement Status E52/2372 P52/1242 P52/1243 P52/1244 P52/1281 P52/1282 P52/1283 Granted Granted Granted Granted Granted Granted Granted Nickel Hills Project - Nickel Tenement Status E52/2550 Granted Doolgunna Project - Copper Tenement Status E52/2548 Granted QUEENSLAND Georgina Basin Project – Iron Oxide-Copper-Gold Tenement Status EPM18389 EPM18390 Granted Granted Interest at beginning of quarter (%) 100 100 Interests relinquished, reduced or lapsed (%) - Interests acquired or increased (%) - Interest at end of quarter (%) 100 100 ABOUT VENTNOR Ventnor Resources is a base-metals focused explorer with a JV with Sandfire Resources NL at the historic Thaduna/Green Dragon project, 170 km north of Meekatharra in Western Australia. The Thaduna/Green Dragon Project is located 40km east of DeGrussa and represents the largest copper resource in the Doolgunna-Bryah Basin Region outside of Sandfire’s DeGrussa-Doolgunna Project. Also in Western Australia, 40 km south of Newman is the Warrawanda nickel project. 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. As announced, the Company has recently been granted a tenement adjacent to the Tropicana Gold Mine in WA that is prospective for gold and has had preliminary exploration comprising mapping and rock chip sampling. Known Copper and Nickel Mineralisation The Thaduna/Green Dragon copper project has historic mine production; copper mineralisation has been confirmed with four phases of exploration drilling; a Scoping Study has confirmed the economic potential of the project. A farm-in deal has been transacted with Sandfire Resources to develop the project and to treat ore. The prospectivity of the Warrawanda nickel project was increased when nickel gossans were identified in recent work. Further work is planned for 2014. Proven Management The Ventnor directors have extensive experience in the management of publicly listed mining and exploration companies. The Company is actively seeking and evaluating other base metals projects in Australia. PROJECT LOCATIONS