Tillkännagivande • Jun 23

Ngex Minerals Reports Drilling Results from Lunahuasi Project in San Juan, Argentina

NGEx Minerals Ltd. announced results of two drill holes from the Phase 4 drill program at its 100% owned Lunahuasi high-grade copper-gold-silver project in San Juan, Argentina. Copper equivalent (CuEq) for drill intersections is calculated based on USD 3.00/lb Cu, USD 1,500/oz Au and USD 18/oz Ag, with 80% metallurgical recoveries assumed for all metals. The formula is: CuEq % = Cu % + (0.7292 Au g/t) + (0.0088 Ag g/t). Estimated true widths are rounded to the nearest metre for widths over 10m and to the nearest 0.1m for widths less than 10m, as this better reflects the precision of the estimates. Estimated true widths should be regarded as approximate as these use a preliminary interpretation of the geological model and are subject to change as more information becomes available. Intervals greater than 300m are interpreted as bulk disseminated and stockwork mineralization and drilled width is equal to estimated true width. DPDH064 was drilled from the same platform as DPDH027 at an azimuth of 260o and dip of -46o to test the southern extent of the Saturn Zone and the adjacent porphyry deposit at depth. The Saturn Zone was intersected as expected between 572.00m and 660.00m, averaging 8.65% CuEq, including a very high-grade section of 15.65m at 30.13% CuEq starting at 583.35m, extending the zone by 70m to the southwest of DPDH021. Much like in hole DPDH027, characteristic porphyry vein types define a zonation towards the porphyry system, with D veins appearing at about 400 m, B veins around 900 m and A veins at around 1,000 m. The overprinting HS mineralization continues to a down-hole depth of 1,235m where a sharp transition to porphyry mineralization is indicated by a distinct change in copper mineralogy from enargite to chalcopyrite +/- bornite. This contact correlates well with the same transition in DPDH027 at 1,262m. The intensity of veining increases below the contact, and a thick section of early-mineral porphyry beginning at 1,350m corresponds with a sharp increase in copper and gold grades, confirming the conclusion from DPDH027 that the system includes several phases of porphyry intrusions, including a well-mineralized early phase. DPDH064 continues through a very strong stockwork of well mineralized A veins cutting porphyry and rhyolite and andesite country rock, with vein intensity increasing towards a magmatic-hydrothermal breccia contact at around 1,512m. This breccia contains fragments with truncated A veins, but is also cut by A veins, indicating its inter-mineral timing. It is characterized by potassic alteration and a notable increase in copper and gold grades and continues to around 1,668m. The hole continues in very strong A vein stockwork cutting andesite, still well mineralized, to its end at 1,736.10m due to weather conditions at the end of the season. The porphyry intersection in DPDH064 is about 200m above similar mineralization in DPDH027 and mineralization remains open in all directions. The well-mineralized breccia and associated very strong A vein stockwork (with A veins comprising up to 40% of the rock volume and widths up to 40cm) confirm an important high-grade component to the porphyry system. DPDH066 was drilled from the top of the plateau, collared just over 2km to the west and 670m above DPDH064, at an azimuth of 064o and a dip of -73o. The hole was planned to flatten and test the upper part of the porphyry system, however it became steeper as it progressed and intersected porphyry alteration, veining and mineralization developed in host rock. The hole first intersected a zone of advanced argillic alteration cut by pyrite veins down to a depth of around 180m, interpreted as part of the lithocap, including steam-heated alteration indicating a very shallow erosional level within the system. It should be emphasized that this near-paleo-surface alteration occurs just over 1.5km vertically above the potassic core of the system, with the column between the bottom of DPDH064 and surface very prospective for the presence of a Filo-style HS system above the apex of the porphyry. This will form a key target for the Phase 5 drill program, which is set to commence later this year. Porphyry veining and mineralization increased towards the bottom of the hole, with D veins beginning at around 500m, B veins at around 1,000m and finally A veins at around 1,250m, coincident with an increase in copper and gold grades. The vein pattern, alteration and the presence of copper and gold grades, form important vectors which will help guide the next phase of drilling. The hole ended in mineralization at 1,643m. Holes DPDH064 and DPDH066 confirm the presence of a large, high-grade copper-gold porphyry system to the west of, and in part overprinted by, the Lunahuasi HS deposit. Hole DPDH064 intersected early porphyry veinlets over more than 800m and discovered a broad, continuous interval of copper-gold mineralization associated with a distinct magmatic-hydrothermal breccia body with potassic alteration. This breccia appears to be similar to the Fenix and Alicanto high-grade breccias developed at the Los Helados deposit, 10km to the north, and is a key exploration target for further drilling. The information gained from these holes, combined with several earlier holes, clearly shows a characteristic pattern of vein development and alteration which will be used to optimize targeting for the Phase 5 drill program. In hole DPDH064, the entire interval from 196.00m to the end of the hole at 1,736.10m is mineralized and the hole ended in good mineralization. Over this interval, the composite is based on a 0.5% CuEq cutoff grade including up to 30m of consecutive internal dilution (material less than 0.5% CuEq). The overall composite grade is influenced by the 88m long Saturn Zone interval from 572.00m to 660.00m which averages 8.65% Cu. In order to illustrate this influence, if the copper grade of the individual samples in this interval is capped at 5.0%, the average grade of the 1,540.10m interval from 196.00m to 1,736.10m drops from 0.79% Cu to 0.52% Cu and from 1.17% CuEq to 0.90% CuEq. The Phase 4 program is now complete, with a total of 27,318m drilled and 32 holes completed. Assay results from the final nine holes will be released once assays are received, analyzed, and confirmed by the Company. Samples were cut at NGEx's operations base in San Juan, Argentina by Company personnel. Diamond drill core was sawed and then sampled in maximum 2-meter intervals, stopping at geological boundaries.

Tillkännagivande • May 11

Ngex Minerals Reports Phase 4 Lunahuasi Drill Program Results Highlighting Size, Grade, and Upside

NGEx Minerals Ltd. reported its results for the three months ended March 31, 2026. The Company's Phase 4 drill program at Lunahuasi is now complete, with a total of 27,318 metres drilled in 32 holes. Phase 4 assay results received to date have continued to demonstrate the deposit's scale and high grades, particularly in the Mars and Saturn zones. Notable intersections released during the first quarter of 2026 include: Mars zone: DPDH054, which intersected 94.00 metres at 8.99% copper equivalent ("CuEq"), including 21.70 metres at 31.92% CuEq; and Saturn zone: DPDH051, which intersected 327.40 metres at 3.74% CuEq and DPDH059, which intersected 335.15 metres at 4.08% CuEq. Final Phase 4 assays, representing approximately 50% of the drilling completed, are expected to be released as received until the third quarter of 2026. Phase 4 drilling has also confirmed and begun to define two new high-grade zones, which reaffirm a key feature of the Lunahuasi system: the occurrence of multiple mineralized zones and multiple overlapping styles of mineralization. At the northern limit of the current drill pattern, DPDH058 intersected 109.00 metres at 3.37% CuEq, including 6.00 metres at 14.53% CuEq; and 300m east of the Mars zone, geotechnical hole DPGT004 intersected 23.10 metres at 4.71% CuEq including 4.20 metres at 17.94% CuEq. In March 2026, NGEx Minerals received approval from the Mining Authority of San Juan Province, Argentina, for a proposed exploration adit at the Lunahuasi project. Approval of the Environmental Impact Statement for the adit was a crucial step in the Lunahuasi story, which will enable the Company to proceed with underground development once additional sectoral permits are received. When complete, the adit is expected to provide a platform to conduct exploration and definition drilling, metallurgical sampling, and geotechnical assessment, which are all key inputs for future technical studies and project evaluation. The approval significantly increases NGEx's optionality for future exploration and development at the project. During the three months ended March 31, 2026, the Company was focused on execution of its Phase 4 drill program at Lunahuasi, which has been another successful endeavour and is now complete. Phase 4 drilling is the Company's fourth exploration campaign at Lunahuasi, and has continued to expand, delineate and define the four distinct styles of mineralization found to date at Lunahuasi, while continuing to test the potential for additional discoveries at the project. The objectives of Phase 4 program were to test the Lunahuasi system at three distinct scales: short-range definition drilling – to further define and expand the Mars, Saturn and Jupiter zones; mid-range step-out holes – to extend the outer edges of the Lunahuasi deposit, and also identify new zones of mineralization outside of the current drill pattern; and long-range exploration drilling – to test anomalies and district scale targets, with the objective of discovering new components of the Lunahuasi system and demonstrating the system's true potential. Phase 4 drilling has been successfully completed across all three scales. To date, Phase 4 assay results received and released by the Company have only covered short-range definition drilling and some of the mid-range step-out holes completed during the program. Highlights of Phase 4 assays released during the three months ended March 31, 2026, and subsequent period thereto, include: Confirmation and delineation of new zones DPDH058 intersected 109.00 metres at 3.37% CuEq (1.77% Cu, 1.65 g/t Au, and 45.4 g/t Ag), including 6.00 metres at 14.53% CuEq (6.13% Cu, 8.17 g/t Au, and 277.7 g/t Ag), and is helping to outline a new zone located at the northern limit of the current drill pattern that was first intersected by DPDH043 from the Phase 3 campaign. Further analysis will be required to fully delineate this new zone, however preliminary indications are that it remains open in all directions and exhibits high-grade intersections and sub-intervals with even more elevated grades, as seen in the Saturn, Mars and Jupiter zones. DPGT004 was a geotechnical hole drilled along the centreline of the proposed exploration adit to provide geotechnical and hydrogeological data needed for the adit design. The highlight of the hole was the discovery of a previously unknown high-grade zone some 300 metres to the east of Mars. This new zone, starting at only 187.9 metres down the hole, returned 23.10 metres at 4.71% CuEq (2.75% Cu, 2.08 g/t Au, and 50.9 g/t Ag) including a 4.20 metre interval of 17.94% CuEq (11.67% Cu, 5.95 g/t Au, and 219.2 g/t Ag), showing all the characteristics of other high-grade zones in the deposit and demonstrating clear exploration potential. This intersection confirms that Lunahuasi remains open to the east of current drill collars and opens up a new front for future exploration. Saturn zone: continued expansion and consistent intersection of high-grades throughout DPDH051 intersected 327.40 metres at 3.74% CuEq (2.43% Cu, 1.53 g/t Au, and 21.8 g/t Ag), which is punctuated by multiple very high-grade sub-intervals such as 7.30 metres at 14.50% CuEq (10.98% Cu, 2.49 g/t Au, and 193.3 g/t Ag) and 5.80 metres at 14.40% CuEq (11.97% Cu, 2.73 g/t Au, and 50.8 g/t Ag). DPDH051 was drilled north to south to test the geometry of the Saturn zone perpendicular to most other holes, and its results were consistent with the zone's geological interpretation with high-grade gold intervals correlating well with other holes. DPDH056 targeted the Saturn zone at depth, confirming its extension 50 metres to the north beyond the previous northernmost intersection, intersecting 294.10 metres at 2.41% CuEq (1.87% Cu, 0.62 g/t Au, and 9.9 g/t Ag), including 8.05 metres at 17.82% CuEq (14.09% Cu, 4.06 g/t Au, and 87.1 g/t Ag). DPDH057 successfully expanded the Saturn zone vertically above the mineralization intersected previously in hole DPDH049, intersecting 131.00 metres at 5.09% CuEq (3.10% Cu, 2.03 g/t Au, and 58.2 g/t Ag), including 30.00 metres at 7.91% CuEq (4.00% Cu, 4.58 g/t Au, and 64.5 g/t Ag) and 40.20 metres at 6.09% CuEq (4.41% Cu, 1.48 g/t Au, and 68.8 g/t Ag). DPDH059 tested continuity, geometry and grade distribution within the Saturn zone, filling a gap between previous drillholes DPDH044 and DPDH051. DPDH059 intersected 335.15 metres at 4.08% CuEq (2.25% Cu, 2.17 g/t Au, and 27.6 g/t Ag), which included several narrower intervals with significantly higher-grade as seen in other holes completed in this area such as 19.50 metres at 18.96% CuEq (6.83% Cu, 15.64 g/t Au, and 82.3 g/t Ag). Mars zone: Outlining a very high-grade core within an expanding envelope DPDH054 intersected 94.00 metres at 8.99% CuEq (3.88% Cu, 6.66 g/t Au, and 29.6 g/t Ag), including 21.70 metres at 31.92% CuEq (12.70% Cu, 25.21 g/t Au, and 95.5 g/t Ag).

Räntetäckningsgrad	n/a
Kontanter	CA$467.38m
Eget kapital	CA$433.37m
Summa skulder	CA$44.38m
Totala tillgångar	CA$477.75m

Uppgifter	Senast uppdaterad (UTC-tid)
Analys av företag	2026/08/12 12:56
Aktiekurs vid dagens slut	2026/08/12 00:00
Intäkter	2026/06/30
Årlig intjäning	2025/12/31

Paket	Uppgifter	Tidsram	Exempel US-källa
Företagets finansiella ställning	10 år	Resultaträkning Kassaflödesanalys Balansräkning	SEC Form 10-K SEC Form 10-Q
Analytikernas konsensusuppskattningar	+3 år	Prognos för finansiella poster Analytikernas prismål	Rapporter från analytiker Blue Matrix
Marknadspriser	30 år	Aktiekurser Utdelningar, splittar och åtgärder	ICE Marknadsdata SEC Form S-1
Ägarskap	10 år	Största aktieägare Insiderhandel	SEC Formulär 4 SEC Formulär 13D
Förvaltning	10 år	Ledningsgrupp Styrelse och verkställande direktörer	SEC Form 10-K SEC Form DEF 14A
Viktiga utvecklingstendenser	10 år	Företagsmeddelanden	SEC Formulär 8-K

Analytiker	Institution
Stefan Ioannou	ATB Cormark
Rene Cartier	BMO Capital Markets Equity Research
Alexander Robert Pearce	BMO Capital Markets Equity Research

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Recent updates

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NGEx Discovers Major Copper-Gold Porphyry System at Lunahuasi, Drills 1,619.4m at 0.87% CuEq including 876.4m at 1.13% CuEq

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NGEx Minerals Ltd. Provides the Fourth Update on its Ongoing Phase 3 Drill Program at the 100% Owned Lunahuasi High-Grade Copper-Gold-Silver Project in San Juan, Argentina

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