DevEx Resources : Chairman's Address and AGM Presentation

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24th November 2021

Chairman's Address and AGM Presentation

Devex Resources Limited (ASX: DEV, "DevEx" or "Company") is pleased to provide a copy of the Chairman's Address and the Managing Director's Presentation to be made at the Company's Annual General Meeting today.

This announcement has been authorised for release by the Board.

For personal

For further information, please contact:

Brendan Bradley, Managing Director DevEx Resources Limited Telephone [phone] Email: [e-mail]

For media inquiries, please contact:

Nicholas Read

Read Corporate

Telephone: [phone]

Email: [e-mail]

For personal use only

24th November 2021

Chairman's Address - 2021 Annual General Meeting

Good afternoon fellow DevEx Shareholders.

It gives me great pleasure to welcome you to the Company's 2021 Annual General Meeting.

I am pleased to say that the past year has been a very good one for DevEx, with exciting results being generated at our Sovereign, Junee and Nabarlek projects.

The growing level of investor interest in the Company has translated into a pleasing increase in our market capitalisation over the past 12 months - and I firmly believe we have only just started on our growth path.

Within the emerging Julimar Ni-Cu-PGE Province in Western Australia, we have made strong early progress at the Sovereign Project, located 35km north of Chalice Mining's Gonneville discovery.

Following the first-ever bedrock drilling this year, we have defined an extensive sequence of mafic- ultramafic intrusive rocks with compelling similarities to those seen at Gonneville.

Importantly, our second diamond hole intersected broad intervals of low-grade disseminated nickel- copper sulphide mineralisation, with assays pending.

This is a great outcome for the Project and - with a strengthened and highly capable technical team now in place following some important additions during the year - we are in a great position to further accelerate our exploration efforts in this highly prospective terrain.

Over east, within Australia's porphyry copper-gold heartland of New South Wales our exploration team have generated excellent early results during the year from our Junee Project, with wide-spacedair-core drilling and geophysics defining an extensive zone of coincident copper-gold bedrock mineralisation with underlying IP anomalies over a 2km strike length.

These coincident anomalies represent a large-scale porphyry copper-gold drill target which will be tested with a 16,000m exploration drilling program, planned to commence in December 2021.

On the uranium front, the past year has seen a strong upsurge of interest as nuclear power has become a key focus to address current power shortages in Europe and Asia, as well as the longer-term global transition to green energy.

This presents an exciting opportunity for DevEx's shareholders given our extensive landholding at the West Arnhem-Nabarlek Project, located in the Alligator Rivers Uranium Province in the Northern Territory.

DevEx initiated a project-wide review of our tenure in the Alligator Rivers Province during the year, focused on extensions to the previously mined high-grade Nabarlek mineralisation, as well as assessing the numerous historical prospects across our regional tenure.

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This review identified multiple exploration opportunities for uranium, copper and gold mineralisation, with exploration set to increase significantly over the next 12 months.

Given the rapidly changing dynamics in the uranium sector, I believe that our uranium exploration strategy has the potential to deliver significant value for shareholders in the coming 12 months.

To support our ongoing exploration initiatives, DevEx completed two capital raisings this year, raising a total of $16.4 million before costs. I would like to sincerely thank all the shareholders who supported these capital raisings and welcome those new shareholders to the DevEx register.

The board has mandated the management team to expedite our exploration efforts on our existing projects and to prioritise drilling at the Sovereign, Junee and Nabarlek Projects.

In conclusion, I would like to extend my most sincere thanks to my fellow directors, our Managing Director Brendan Bradley and the entire DevEx team for their outstanding hard work and dedication. The Company has achieved an impressive work program over the past 12 months despite the ongoing challenges of the COVID-19 pandemic. Most importantly, we have maintained an impeccable safety record throughout.

I would also like to take this opportunity to thank you - our shareholders - for your support. I look forward to delivering tangible results over the next 12 months.

I will leave it to Brendan to describe in more detail the technical importance of our recent exploration results, but I think it's fair to say that there is a considerable amount of excitement building within our team as we move to the next pivotal stage of exploration across our portfolio.

Thank-you.

personal

For further information, please contact:

Brendan Bradley, Managing Director DevEx Resources Limited Telephone [phone] Email: [e-mail]

FORWARD LOOKING STATEMENT

For media inquiries, please contact:

Nicholas Read

Read Corporate

Telephone: [phone]

Email: [e-mail]

For

This announcement contains forward-looking statements which involve a number of risks and uncertainties. These forward looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. No obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.

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GAINING MOMENTUM IN AUSTRALIA'S DISCOVERY HOTSPOTS

Annual General Meeting | Presentation

24 November 2021

ASX : DEV

Important Information

	Forward Looking Statements
	This Presentation contains forward-looking statements which are identified by words such as 'may', 'could', 'believes', 'estimates', 'targets', 'expects', or 'intends' and other similar words that involve risks and uncertainties.
	These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this Presentation, are considered
	reasonable. Such forward-looking statements are not a guarantee of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of
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	the Company, the Directors and the management. The Directors cannot and do not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this
	Presentation will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements. The Directors have no intention to update or revise forward-looking statements, or to publish
	prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this Presentation, except where required by law or the ASX listing rules.

	No offer to sell or invitation to buy
	This Presentation is not, and should not be considered to, constitute any offer to sell, or solicitation of an offer to buy, any securities in DevEx Resources Limited, and no part of this Presentation forms the basis of any contract
	r commitment whatsoever with any person. DevEx Resources Limited does not accept any liability to any person in relation to the distribution or possession of this Presentation from or in any jurisdiction.
	Disclaimer
	Whilst care has been exercised in preparing and presenting this Presentation, to the maximum extent permitted by law, DevEx Resources Limited and its representatives:
			make no representation, warranty or undertaking, express or implied, as to the adequacy, accuracy, completeness or reasonableness of this Presentation;
			accept no responsibility or liability as to the adequacy, accuracy, completeness or reasonableness of this Presentation; and
			accept no responsibility for any errors or omissions from this Presentation
	Competent Person Statement
	The information in this Presentation that relates to Exploration Results for the Sovereign Project are extracted from the ASX announcements titled "Initial diamond drilling at Sovereign intersects thick intrusive sequence with
	disseminated nickel-copper sulphides" released on 10th November 2021, "Diamond drilling underway at Sovereign Ni-Cu-PGE Project in the highly prospective Julimar Region, WA" released on 7th October 2021, "Large-scale,
	12km long mafic-ultramafic intrusion at Sovereign Project, paving way for ground EM and initial diamond drilling" released on 17th August 2021, "Drilling confirms anomalous palladium, platinum and copper associated with a
	mafic-ultramafic intrusion at the Sovereign Project, WA" released on 27th April 2021 which is available on www.devexresources.com.au.
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	The information in this Presentation that relates to Exploration Results for the Junee Project are extracted from the ASX announcements titled "New results significantly upgrade Junee Porphyry Copper-Gold Project, NSW"
	released on 26th July 2021, "Encouraging gold-copper assays from maiden air-core drilling into large-scale target at Junee Project, NSW" released on 26th May 2021, "Extensive copper-gold soil anomaly strengthens potential
	for large-scale porphyry copper-gold system at Junee" released on 9th February 2021, "NSW Exploration Update - Basin Creek Gold Project and Junee Copper-Gold Project" release on 6th November 2020, "Geophysics
	upgrades priority drill targets at Junee Copper-Gold Project, NSW, as new drill programme commences" released on 3rd March 2020, and "DevEx Further Expands Potential of Junee Copper-Gold Project, NSW with
	Identification of Additional Porphyry Targets" released on the 5th March 2019 and "Porphyry Copper-Gold Targets Identified at Junee Project, Lachlan Fold Belt, NSW" released on the 24th January 2018, all of which are
	available onwww.devexresources.com.au.
	The information in this Presentation that relates to Exploration Results for the Nabarlek Project are extracted from the ASX announcements titled "DevEx ramps-up exploration at Nabarlek Uranium Project, NT after identifying
	ew high-grade targets" released on 29th September 2021, "Large drill target defined below Nabarlek Uranium Mine, West Arnhem Project, NT" released on 9th October 2018, "Technical review recognises strong similarities
	between U40 prospect and the Coronation Hill U-Au-PGE deposit" released on the 9th May 2019, "UEQ Identifies High Grade Copper-Gold and Base Metal Potential at NT Uranium Prospects" released on the 4th October 2017
	and "Higher Uranium Grades Returned from U40 Prospect - Nabarlek" released on the 16th December 2010, all of which are available on www.devexresources.com.au.
	The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant original market announcement.
	Exploration by Other Explorers
	This Presentation contains information sourced from the reports of Other Explorers. References to the original reports are provided as footnotes where the information is cited in this Presentation. The Company does not vouch
	for the accuracy of these reports. The Company has taken the decision to include this information as it is in the public domain and has assessed it to be of relevance to shareholders and investors.
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