Venture Minerals Limited (ASX: VMS) ('Venture' or the 'Company') is pleased to announce the appointment of Fergus Campbell as Lead Technical Consultant for the Riley Iron Ore Mine.

Fergus is a Mining Engineer with over 30 years' experience and has held senior executive management positions in both mining contracting and resource development companies having worked extensively throughout Australia with a focus on Iron Ore. Mr. Campbell's skillset is ideally suited for the current stage of development at the Riley Project.

The Company having sourced and secured all long lead equipment items for the Riley Wet Screening Plant, has achieved a critical milestone as the project moves towards the first iron ore shipment in Q2 2021.

In addition, construction of the Wet Screening Plant is now well advanced with the Steel Fabrication being done by Crisp Bros & Haywards based near Launceston in Northern Tasmania with the MCC being assembled by Tritec Electrical Controls & Automation at the Hobart workshop. The bulk of the mechanical equipment has been purchased and is ready for installation on the plant site where the infrastructure such as the ROM, concrete foundations, site works including the building of an all-weather haul road to the sealed Pieman Road were previously completed. A four-week construction program is currently scheduled to commence in the second half of March 2021.

Iron ore prices have been strong throughout 2020 and into 2021 with the outlook for the rest of the calendar year remaining positive due to continued demand generated by Chinese government infrastructure spending and ongoing supply concerns from Brazil.

About Venture

Venture Minerals Ltd (ASX: VMS) is entering an exciting phase as it looks to move from explorer to producer with production at the Riley Iron Ore Mine in northwest Tasmania. At the neighbouring Mount Lindsay TinTungsten Project in North West Tasmania, higher Tin prices and the recognition of Tin as a fundamental metal to the battery revolution has refocused Venture's approach to developing Mount Lindsay. Already one of the world's largest undeveloped Tin deposits, the Company has commissioned an Underground Scoping Study on Mount Lindsay that will leverage off the previously completed feasibility work. In Western Australia, Chalice Gold Mines (ASX: CHN) recently committed to spend up to $3.7m in Venture's South West Project, to advance previous exploration completed by Venture to test a Julimar lookalike Nickel-Copper-PGE target. At the Company's Golden Grove North Project, it has already intersected up to 7% Zinc, 1.3% Copper and 2.1g/t Gold at Orcus and there are several, strong EM conductors situated along the VMS (Volcanogenic Massive Sulfide) along strike to the world class Golden Grove Zinc-Copper-Gold Mine. Venture has recently commenced a drill program designed to bring forward a potential new gold discovery at the Kulin Project.

COVID-19 Business Update

Venture is responding to the COVID-19 pandemic to ensure impacts are mitigated across all aspects of Company operations. Venture continues to assess developments and update the Company's response with the highest priority on the safety and wellbeing of employees, contractors and local communities. Venture will utilise a local workforce and contractors where possible, and for critical mine employees that are required to fly in and fly out, Venture has obtained the appropriate COVID-19 entry permits into Tasmania.

Contact:

Andrew Radonjic

Tel: +61 (0) 8 6279 9428

Email: admin@ventureminerals.com.au

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