Ventnor Resources : Diamond drilling planned targeting silver-cobalt anomaly

28 March 2017

ASX: VRX

Shares on Issue 223 million

Unlisted Options 18.38 million

Market Cap @ 1.6¢ a share $3.8 million (fully diluted)

Paul Boyatzis

Non-Executive Chairman

Bruce Maluish

Managing Director

Peter Pawlowitsch

Non-Executive Director

John Geary

Company Secretary

Ventnor has a continuing royalty on future production by Sandfire from the Thaduna/Green Dragon Copper Project in the Doolgunna district, WA.

Biranup Project adjacent to the Tropicana Gold Mine.

Warrawanda Nickel Project south of Newman, WA.

The Company is actively assessing other gold and base metal projects in Australia.

• Drilling at Fire Dragon Prospect to follow up on cobalt anomaly:
  • Significant cobalt and silver anomaly
  • Previous assay of 0.32% cobalt, 28.7g/t silver
  • Two hole diamond program

Ventnor Resources Ltd (Ventnor) (ASX: VRX) will drill two diamond holes at the Fire Dragon prospect in the Biranup Project area, 370 kilometres north-east of Kalgoorlie in Western Australia, following up on an historic bedrock multi-element assay.

Managing Director Bruce Maluish said: "The drill target has been determined by examining historic drillhole assays at the Fire Dragon prospect. The bedrock assay was from a bottom-of-hole regional drilling program and the target is planned to intersect the top of a structure that has been interpreted from recent drilling in the area.

"The drill target is in close proximity to the recent drill program at the Fire Dragon conductor, which has been used to determine the orientation of the targeted structure," Mr Maluish said.

Biranup Project - Location Plan

ASX ANNOUNCEMENT

Prospect locations

Detailed Information

In November 2015, Ventnor announced the identification of significant cobalt and silver anomalism at Fire Dragon, in wide spaced, vertical, historic aircore drilling (Refer ASX Announcement 16 November 2015). This type of drilling can be an effective means of vectoring into mineralisation where there has been lateral dispersion of metals during the weathering process. Fire Dragon is at the southern end of tenement E39/1828 where there exists a 20-80m thick layer of transported sand overlaying the basement. However, a typical weathering profile does not exist at Fire Dragon, with only a 5 metre thick slightly weathered zone on top the fresh basement. Multi-element assays are available only on the bottom of hole (BOH) sample, and are therefore a discrete fresh rock sample.

The BOH sample for drill hole MDA345 returned a result of 0.32% cobalt and 28.7g/t silver.

The drillhole position is shown on the TMI airborne magnetic image, below, followed by the gravity image.

The recently drilled diamond hole at Fire Dragon has established the orientation of the bedrock stratigraphy in the area. The magnetic and gravity data support this orientation in the MDA345 area, and as a result, the following section below, has been used to propose the drilling of two diamond holes to test this mineralisation.

The drilling of two diamond holes proximal to the intersection will allow for the best geological understanding of the potential for economic mineralisation. The holes will also be cased with PVC to allow for a down hole electromagnetic survey to be undertaken.

The drilling is expected to commence in April 2017 and will be undertaken in conjunction with other programs in the area. The Company expects assay results to be available in the June quarter following logging and cutting of core.

Further information:

Bruce Maluish Andrew Rowell

Managing Director Cannings Purple

Ventnor Resources ARowell@canningspurple.com.au

0418 940 417 0400 466 226