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ASX Announcement

Venture Secures Nickel-Copper Project Western Australia

Wednesday, 23 November 2016 Ref: /VMS/606/VMS0399

Venture Minerals Limited (ASX code: VMS), is pleased to announce that the Company has entered in to a Joint Venture with a private group to earn in to a magmatic style nickel-copper exploration project ("Caesar Project") located on the edge of the Yilgarn Craton in Western Australia.

Highlights of the Caesar Project include:

• Project contains a gabbroic body which hosts magmatic nickel-copper mineralization similar in style to the Nova Bollinger, Nebo-Babel and Savannah nickel-copper deposits also located in Western Australia (Refer Figure One);

• Caesar already has surface nickel and copper geochemical anomalies extending over 3km of strike and remains open to the south (Refer Figure Two);

• Previous surface sampling of gabbroic rocks within the geochemical anomaly has identified copper (chalcopyrite) and nickel (pentlandite) sulphides (Refer Figure Two) from petrographic analysis;

• The centre of the nickel and copper surface anomaly is also coincidental with a gravity high further elevating the potential of the exploration target;

• The Caesar Project's macro geological setting is favourable, being hosted within a proterozoic orogenic belt on the margins of the Yilgarn Craton.

Venture Minerals has entered into an earn agreement with Muggon Copper Pty Ltd, whereby Venture can earn up to a 75% interest in the Caesar Project via exploration expenditure. Should exploration be successful, Venture can increase its ownership to 90% by funding a bankable feasibility study (see page 4 for full details). Through earning in to the Caesar Project, Venture gains exposure to an exciting exploration project that already possesses potential for a magmatic style, nickel-copper discovery.

Venture's Managing Director commented "In assessing the potential of the Caesar Project, we were particularly pleased to see nickel and copper sulphides already identified in surface samples, a substantial surface geochemistry response and a coincidental gravity high. We believe the Caesar Project offers Venture a cost effective exposure to an exciting style of mineralization".

Venture Minerals Limited

PO BOX 8234 Subiaco East WA 6008 288 Churchill Avenue Subiaco WA 6008

Telephone: +61 8 9381 4222

Fax: +61 8 9381 4211

ACN 119 678 385

ABN 51 119 678 385

Figure One | Caesar Project - Location Map

Double Magic Ni-Cu Prospect

(Buxton Resources)

Savannah Ni-Cu Mine (Panoramic Resources)

Caesar Project Ni-Cu Target

Nebo Babel Ni-Cu Prospect

(Cassini Resources)

Nova Ni-Cu Mine (IGO)

Figure Two | Caesar Project - surface geology with Nickel

The Project itself is located approximately 200km north northeast of Geraldton and consists of a granted exploration license covering 49km² as well as an additional 193km² of exploration license applications recently applied for by Venture Minerals.

Previous exploration work on the Caesar Project, including surface geochemistry (lag sampling) and petrology, which suggested that the gabbroic intrusive contains disseminated nickel and copper sulphides. Venture will advance this work by focussing on the potential identification of any massive sulphide bodies associated with gabbroic intrusive.

Exploration in the near term will initially look to extend the geochemical anomaly to the south, this will be followed by a comprehensive EM (Electromagnetic) survey designed to identify potential massive sulphide targets.

Details of the Agreement

1. VMS to pay Muggon Copper Pty Ltd ("Vendor") $25,000 cash and issue $25,000 in VMS shares upon signing the heads of agreement;

2. Should VMS elect to drill on the Project then Venture will pay the Vendor $25,000 in cash and issue $25,000 in VMS shares;

3. VMS must spend $1.5M within 3 years to earn 51% interest in the Project, with $300,000 to be spent within the first 12 months;

4. Once VMS has earned 51% interest in the Project, VMS must then spend a further $4.5M within the next 3 years to take VMS's interest in the project to 75%;

5. Once VMS has earned 75% interest in the Project, the Vendor must elect to either contribute or dilute to a 10% interest upon the completion of a Bankable Feasibility Study or Definitive Feasibility Study (whichever comes first) on the project;

6. Once VMS has earned 90% interest in the Project, the Vendor must elect to either contribute or dilute to a royalty of 1% of the net smelter return;

7. VMS has the first right of refusal should the Vendor elect to sell its interest in the Project at any time based on an independent expert's valuation.

This announcement lifts the trading halt that the Company requested on Monday 21 November 2016. The Company is not aware of any reason why the ASX would not allow trading to recommence immediately.

Yours sincerely,

Hamish Halliday Managing Director

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