Overview of Venture Minerals' completion of Stage One Resource definition drill program

Venture Minerals (ASX: $VMS) has successfully completed the Stage One Resource definition drill program at the large-scale Jupiter Rare Earths prospect in the Mid-West region of Western Australia. The completion of the program marks the company's achievement of the 70% expenditure milestone for the JV covering the 40 km2 target, with the Company now moving forward to 90% ownership.

Venture's Managing Director's perspective on the completion of the drill program

Stage One Resource definition drill program at our priority, large-scale Jupiter Rare Earths Target, has been completed with early indications suggesting the infill drilling should deliver broad zones of high-grade clay hosted mineralisation. This drilling continues to confirm Venture's belief that the Jupiter target has the potential to become an exceptional Rare Earths Project with excellent access to infrastructure and processing plants in the Tier One jurisdiction of Western Australia. With that in mind, the Board has committed to go to 90% ownership of the Jupiter target having just met the 70% milestone late last year and looks forward to delivering a cost-effective Maiden Resource of high-grade, critical REE minerals in Q1 2024.

Summary of Venture Minerals' completion of Stage One Resource definition drill program

Venture Minerals (ASX: $VMS) has successfully completed the Stage One Resource definition drill program at the Jupiter Rare Earths prospect, reaching the 70% expenditure milestone for the JV covering the 40 km2 target. The completion of the program is likely to put Jupiter on track to deliver clay hosted Rare Earth resources with significant grade at a World Class scale. The company is now forging ahead to 90% ownership and expects assay results from the Stage One Resource definition drill program in the coming weeks. Depending on assay results and testwork, a follow-up Stage Two Resource definition drill program is planned at Jupiter. The Brothers Project, where the Jupiter prospect is located, is well positioned in regional Western Australia, close to infrastructure and processing plants, providing the company with significant commercial advantages should the project move towards development. Venture Minerals also holds other significant projects, including the Mount Lindsay Tin-Tungsten Project and the Riley Iron Ore Mine, positioning the company for potential growth and development in the mining sector.