Venture Minerals Limited (Company) announced that Chalice Mining Limited has completed the first stage of the JV with the Company on the South West Nickel-Copper-PGE Project by spending the minimum $300,000 on exploration by the 30 November 2021. The majority of the expenditure was focused on Venture's Thor Target, a 20km long, "Julimar lookalike" magnetic anomaly interpreted to be mafic-ultramafic intrusive complex, in which Chalice may earn up to 70% by spending $3.7 million on exploration over 4 years. Exploration activity during this first phase of the JV recently saw Chalice complete the ground EM program at Venture's South West Nickel-Copper-PGE Project. Chalice's geophysical survey focused on Venture's highly prospective Thor Target. Chalice's EM program is over the area where's Venture's previous airborne EM survey delineated 13 highly conductive anomalies within the southern 6.5km of the "Julimar lookalike" magnetic anomaly. Results of this work will be announced once Chalice's exploration team have received the final data and completed their interpretation of any resultant bedrock conductors, this is expected in early 2022. Chalice will follow-up any resultant bedrock conductors from the EM program with soil geochemistry to define potential drill-ready targets. Should Chalice elect to drill the targets it will need to spend $1.2 million by 29 July 2022 (including monies already spent) to earn 51% and a further $2.5 million to earn 70%. From the initial third of the planned EM Program. Chalice has already defined new EM anomalies of similar strength conductors to those that yielded wide and significant palladium intervals during the earlydrilling phase of the Julimar Ni-Cu-PGE discovery. In addition, one of the new EM anomalies is within 10 metres of a previously drilled hole TOR04 which intersected 86 metres of disseminated sulfides with anomalous levels of PGE mineralisation. The South West Project (256 km²) is located ~240 km south of Perth hosted within the Balingup Gneiss Complex. The two main prospects within the Project are Thor and Odin and both contain areas of potential Nickel-Copper-PGE prospectivity. Thor is a 20km long `Julimar lookalike' magnetic anomaly. associated with chromium rich rocks indicative of mafic-ultramafic intrusions. A recent airborne EM survey by Venture identified 13 highly conductive anomalies within the southern 6.5km of the regional magnetic feature, of which only two have been tested by single holes in Venture's 2018 maiden drill program, with the last drill hole (TOR05) intersecting 2.4m of Massive Sulfide averaging 0.5% Copper, 0.05% Nickel, 0.04% Cobalt and anomalous gold & palladium. At Odin, in the only hole drilled, Nickel and Copper sulfides were intersected within a highly prospective mafic- ultramafic unit that extends over 10 strike kilometres. This was further supported by surface sampling returning significant nickel and copper geochemical anomalies. South West Project Highlights: Thor has a 20km long `Julimar lookalike' magnetic anomaly associated with chromium rich rocks indicative of mafic-ultramafic intrusions; An airborne EM survey in 2018, identified 13 targets in the southern 6.5 km of the Thor magnetic anomaly; Maiden Drill Program at Thor intersected 2.4m of Massive Sulfide in TOR05 averaging 0.5% Cu, 0.05% Ni, 0.04% Co and anomalous Au & Pd; Maiden Drill Hole at Odin intersecting Ni and Cu sulfides within a highly prospective mafic-ultramafic unit that extends over 10 strike kilometres.