[Ferro-Alloys.com]HIGHLIGHTSFollowing completion of plant commissioning and achieving steady state production at the Riley Mine, Venture has booked the Company’s first iron ore shipment for early September: • Bulk carrier vessel with a capacity of 46,000 tonnes (Ultramax Size) (Refer Figure 1)

chartered from a major international shipping operator;  Off-take partner, Prosperity Steel United Singapore Pte Ltd (“Prosperity Steel” or “PSU”), one of the largest iron ore traders in the world (Refer to ASX announcement 02 May 2019), to designate discharge port in China; With steady state production now being achieved, the mine will produce sufficient ore for continuous haulage from the Riley Iron Ore Mine to the Port of Burnie

Iron Ore production from the Plant commissioning phase, plus current steady state production, has afforded Venture the opportunity to immediately charter the first bulk carrier vessel for arrival on the week commencing 6 September 2021 at the Port of Burnie. Commenting on the Riley Iron Ore Mine’s steady state production and chartering of the first vessel, Venture Minerals’ Managing Director Andrew Radonjic, said: “Through the now completed commissioning of the plant, Venture already has a significant stockpile of iron ore ready to ship. The achievement of steady state production and consequently continuous ore haulage has enabled the Company to immediately charter a bulk carrier vessel to load and deliver the first shipment. This marks a major milestone for Venture as it transitions from a highly successful explorer to producer.” Venture Minerals Limited (ASX: VMS) (“Venture” or the “Company”) is pleased to announce that commissioning of the Wet Screening Plant at the Riley Iron Ore Mine (Refer Figure 5), has been completed with the Wet Screening Plant now fully installed and fully operational.

As a consequence, 24-hour processing is now underway, and Stage One of steady state production has been achieved. Completion of commissioning of the Wet Screening Plant has enabled continuous ore haulage from the Riley Iron Ore Mine to the Port of Burnie. The haulage and port services agreement with Qube was recently signed and activated. Iron Ore production from the Plant commissioning phase, plus current steady state production, has afforded Venture the opportunity to immediately charter its first bulk carrier vessel with a capacity of 46,000 tonnes from a major international shipping operator for arrival in the week commencing 6 September 2021. The vessel is scheduled to be loaded over four days before departing to the discharge port as designated by the company’s off-take partner, Prosperity Steel, one of the largest iron ore traders in the world. Once the first shipment is completed, Venture will continue to work on continuous improvement programs for the following months as it ramps up production from one to two shipments per month. The Company recently engaged a highly experienced West Coast of Tasmania-based plant metallurgist Johan Welmans as Processing Superintendent for the Riley Iron Ore Mine, initially to assist with commissioning and now for the continuous running of the Ore Processing Plant.

• [Editor:tianyawei]