NGEx Drills 1,540m at 1.17% CuEq, Including 88m at 8.65% CuEq in Saturn Zone and 501m at 0.73% CuEq in Expanded Porphyry Deposit June 23, 202 6, Vancouver, British Columbia – NGEx Minerals Ltd. (“NGEx”, “NGEx Minerals” or the
NGEx Minerals Ltd.
2800 – 1055 Dunsmuir Street
Vancouver BC, Canada V7X 1L2
T +1 604 689 7842
F +1 604 689 4250
NGEXminerals.com
NGEx Drills 1,540m at 1.17% CuEq, Including 88m at 8.65% CuEq in Saturn Zone
and 501m at 0.73% CuEq in Expanded Porphyry Deposit
June 23, 202 6, Vancouver, British Columbia – NGEx Minerals Ltd. (“NGEx”, “NGEx Minerals” or the
“Company”) (TSX: NGEX; OTCQX: NGXXF) is pleased to announce 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.
Highlights:
• Drillhole DPDH064 intersected:
o 1,540.10m at 1.17% CuEq from 196.00m, including
▪ 663.00m at 1.85% CuEq from 572.00m in High Sulphidation (HS) mineralization,
including
• 88.00m at 8.65% CuEq from 572.00m in the Saturn Zone, including
• 15.65m at 30.13% CuEq from 583.35m, plus
▪ 501.10m at 0.73% CuEq from 1,235.00m in Porphyry mineralization, including
• 156.00m at 1.00% CuEq from 1,512m
▪ Hole ended in mineralization
• Drillhole DPDH066 intersected:
o 394.00m at 0.24% CuEq from 1,249.00m, including
▪ 63.00m at 0.36% CuEq from 1,249.00m
▪ 48.00m at 0.39% CuEq from 1,580.00m
Wojtek Wodzicki, President and CEO, commented, “Hole DPDH064 is one of the most important holes we
have drilled, crossing the high-sulphidation system and continuing well into the adjacent porphyry deposit,
highlighting the impressive scale and grade of Lunahuasi. This hole also confirms that the Lunahuasi
porphyry includes a large breccia body with significant copper and gold grades. High-grade breccias are
an important part of many notable porphyry deposits worldwide and the fact that we are seeing this style
of mineralization in only our second hole into the Lunahuasi porphyry bodes well for the potential of the
deposit.”
Table 1: Significant Intersections
Hole ID From
(m) To (m) Length
(m)
Est True
Width
(m)
Cu % Au g/t Ag g/t CuEq
%
DPDH064 196.00 1736.10 1540.10 1540 0.79 0.39 11.3 1.17
572.00 1736.10 1164.10 1164 0.98 0.37 12.0 1.36
HS Zone 572.00 1235.00 663.00 663 1.31 0.49 18.8 1.83
incl - Saturn 572.00 660.00 88.00 35 6.49 1.91 87.8 8.65
incl 572.00 615.10 43.10 17 11.97 3.18 163.9 15.74
incl 573.00 576.00 3.00 1.2 16.19 10.67 497.7 28.35
and incl 583.35 599.00 15.65 6.3 24.33 4.72 268.1 30.13
and incl 656.15 658.80 2.65 1.1 10.34 2.02 82.1 12.53
and incl 850.30 865.50 15.20 7.6 3.08 0.43 29.3 3.64
incl 860.70 865.50 4.80 2.4 6.76 0.58 54.9 7.67
Porphyry Zone 1235.00 1736.10 501.10 500 0.54 0.22 3.0 0.73
incl 1352.70 1736.10 383.40 383 0.61 0.23 3.2 0.81
incl - breccia 1512.00 1668.00 156.00 156 0.78 0.26 3.6 1.00
DPDH066 1249.00 1643.00 394.00 394 0.17 0.05 3.9 0.24
Incl 1249.00 1312.00 63.00 63 0.16 0.09 14.9 0.36
Incl 1292.00 1301.00 9.00 9.0 0.51 0.47 81.0 1.57
and incl 1580.00 1628.00 48.00 48 0.29 0.08 4.8 0.39
Copper equivalent (CuEq) for drill intersections is calculated based on US$3.00/lb Cu, US$1,500/oz Au and US$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, c haracteristic 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 i ntensity 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.
Discussion
Holes DPDH064 and DPDH066 confirm the presence of a lar ge, 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 tar get
for further drilling. This type of breccia is a well -understood part of the porphyry copper deposit genetic
model and is one of the mechanisms responsible for unusually high grades in other well -know deposits,
such as Filo del Sol and Los Helados, and significantly increases the potential for another large high-grade
deposit in this area.
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 illustra te this influence, i f 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.
Phase 4 Progress
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.
Table 2: Drillhole Information
Hole ID UTM East UTM North Elev (masl) Azimuth Dip Length (m) Drill Status
DPDH048 439,217 6,855,999 4,703 277.4 -55.4 761.0 Complete
DPDH049 439,224 6,855,908 4,742 273.5 -60.6 1,487.0 Complete
DPDH050 439,204 6,855,918 4,742 290.5 -62.0 796.1 Complete
DPDH051 438,851 6,856,236 4,767 157.3 -71.5 790.5 Complete
DPDH052 439,092 6,856,132 4,663 225.6 -47.6 560.4 Complete
DPDH053 439,077 6,856,286 4,655 287.0 -48.5 301.5 Complete
DPDH054 439,299 6,856,194 4,631 289.4 -48.4 383.0 Complete
DPDH055 439,226 6,855,998 4,703 273.5 -68.3 925.0 Complete
DPDH056 439,092 6,856,134 4,663 255.3 -70.0 877.4 Complete
DPDH057 439,203 6,855,918 4,742 280.1 -45.2 799.0 Complete
DPDH058 439,081 6,856,287 4,654 327.9 -67.3 577.0 Complete
DPDH059 438,851 6,856,236 4,768 164.8 -68.7 866.4 Complete
DPDH060 439,297 6,856,195 4,632 304.8 -50.3 488.5 Complete
DPDH061 439,297 6,856,193 4,632 289.1 -54.9 1,302.0 Complete
DPDH062 439,226 6,855,995 4,702 256.4 -63.8 1,604.3 Complete
DPDH063 439,222 6,855,907 4,743 259.1 -54.3 1,920.4 Complete
DPDH064 439,204 6,855,913 4,742 260.3 -46.5 1,736.1 Complete
DPDH065 439,080 6,856,287 4,655 310.5 -55.5 708.2 Complete
DPDH066 437,052 6,855,746 5,407 066.3 -72.9 1,643.0 Complete
DPDH067 438,854 6,856,230 4,768 286.1 -50.6 683.0 Complete
DPDH068 439,168 6,856,227 4,632 231.5 -47.6 695.1 Complete
DPDH069 439,306 6,855,881 4,741 276.4 -31.3 797.8 Assays Pend.
DPDH070 439,302 6,856,190 4,631 301.8 -60.6 680.0 Complete
DPDH071 438,853 6,856,226 4,767 180.2 -50.0 848.0 Assays Pend.
DPDH072 439,218 6,855,991 4,703 292.4 -66.8 941.0 Assays Pend.
DPDH073 439,220 6,855,908 4,743 215.8 -50.7 992.5 Assays Pend.
DPDH074 439,168 6,856,227 4,632 235.3 -29.0 572.5 Assays Pend.
DPDH075 439,307 6,856,188 4,631 319.0 -58.2 764.0 Assays Pend.
Hole ID UTM East UTM North Elev (masl) Azimuth Dip Length (m) Drill Status
DPDH076 439,099 6,856,128 4,664 317.9 -55.9 267.2 Assays Pend.
DPDH077 439,098 6,856,133 4,664 303.0 -45.3 387.5 Assays Pend.
DPDH078 439,295 6,856,191 4,632 382.8 -45.1 383.0 Assays Pend.
DPGT004 439,561 6,856,232 4,572 266.2 -11.8 781.2 Complete
Qualified Persons and Technical Notes
The scientific and technical disclosure included in this news release have been reviewed and approved by
Bob Carmichael, B.A.Sc., P.Eng. who is the Qualified Person as defined by NI 43-101. Mr. Carmichael is
Vice President, Exploration for 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. Core
diameter is a mix of PQ, HQ and NQ depending on the depth of the drill hole. Samples were bagged,
tagged, and packaged for shipment by truck to the ALS preparation laboratory in Mendoza, Argentina
where they were crushed and a 500g split was pulverized to 85% passing 200 mesh. The prepared sample
splits were sent to the ALS assay laboratory in Lima, Peru for copper, gold and silver assays, and multi -
element ICP. ALS is an accredited laboratory which is independent of the Company. Gold as says were by
fire assay fusion with AAS finish on a 30g sample (Au-AA23). Samples returning > 10 g/t gold were then
reanalyzed by fire assay with gravimetric finish on a 30g sample (Au -GRA21). Copper and silver were
assayed by atomic absorption following a 4-acid digestion. Samples were also analyzed for a suite of 48
elements with ME -MS61 plus mercury and a sequential copper leach analysis was completed on each
sample with copper greater than 500ppm (0.05%) . Sequential copper analysis involves the sequenti al
leaching of the sample by acid, followed by a cyanide solution. It can be used to differentiate copper
speciation, with copper oxide minerals leachable with acid and high-sulphidation copper minerals
(enargite, chalcocite, covellite) leachable by cyanide. The residual copper remaining following the
sequential leaches is typically contained in chalcopyrite and bornite. Copper and gold standards as well as
blanks and duplicates (field, p reparation, and analysis) were randomly inserted into the sampling
sequence for Quality Control. On average, 10% of the submitted samples are Quality Control samples. No
data quality problems were indicated by the QA/QC program.
About NGEx Minerals
NGEx Minerals is a copper and gold exploration company based in Canada, focused on exploration of the
Lunahuasi copper-gold-silver project in San Juan Province, Argentina, and the nearby Los Helados copper-
gold project located approximately nine kilometres to the northeast in Chile’s Region III. Both projects are
located within the Vicuña District, which includes the Caserones mine, and the Josemaria and Filo del Sol
deposits.
NGEx owns 100% of Lunahuasi and is the majority partner and operator for the Los Hela dos project,
subject to a Joint Exploration Agreement with Lundin Mining Corporation , which holds an approximate
31% interest in Los Helados.
The Company’s common shares are listed on the TSX under the symbol "NGEX" and also trade on the
OTCQX under the symbol “NGXXF”. NGEx is part of the Lundin Group of Companies.
Additional information relating to NGEx may be obtained or viewed on SEDAR+ at www.sedarplus.ca.
For further information, please contact:
Finlay Heppenstall
VP, Corporate Development & Investor Relations
Tel: +1 (604) 806-3089
Additional Information
Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX)
accepts responsibility for the adequacy or accuracy of this news release.
The information contained in this news release was accurate at the time of dissemination but may be
superseded by subsequent news release(s). The Company is under no obligation, nor does it intend to
update or revise the forward-looking information, whether as a result of new information, future events
or otherwise, except as may be required by applicable securities laws.
Cautionary Note Regarding Forward-Looking Statements
Certain statements made and information contained herein in the news release constitutes “forward -looking
information” and “forward-looking statements” within the meaning of applicable securities legislation (collectively,
“forward-looking information”). All statements other than statements of historical facts included in this document
constitute forward -looking information including, but not limited to, statements regarding: the geological
interpretation of the Lunahuasi system includi ng apparent correlations between drill holes and its ultimate size,
strength, and grade distribution, the significance of the discovery of a breccia body within the copper-gold porphyry
system; the nature and timing of the work to be undertaken to advance the Lunahuasi project, including the timing
of receipt of assay results; and the Company’s ability to use information gathered from drilling to date to effectively
target and drill in future campaigns. Generally, this forward-looking information can frequently, but not always, be
identified by use of forward -looking terminology such as "plans", "expects" or "does not expect", "is expected",
"budget", "scheduled", "estimates", "forecasts", "inte nds", “projects”, “budgets”, “assumes”, “strategy”,
“objectives”, “potential”, “possible”, "anticipates" or "does not anticipate", or "believes", or variations of such words
and phrases or statements that certain actions, events, conditions or results “will”, "may", "could", "would", “should”,
"might" or "will be taken", "will occur" or "will be achieved" or the negative connotations thereof.
Forward-looking information is necessarily based upon various estimates and assumptions including, without
limitation, the expectations and beliefs of management with respect to the nature, scope and timing of the work to
be undertaken to advance the Lunahuasi Project. Although the Company believes that these factors and expectations
are reasonable as at the date of t his document, in light of management’s experience and perception of current
conditions and expected developments, these statements are inherently subject to significant business, economic and
competitive uncertainties and contingencies. Known and unknown r isks, uncertainties and other factors may cause
actual results or events to differ materially from those anticipated in such forward -looking statements and undue
reliance should not be placed on such statements and information. Such factors include, withou t limitation: the
emergence or intensification of infectious diseases, such as COVID 19, and the risk that such an occurrence globally,
or in the Company’s operating jurisdictions and/or at its project sites in particular, could impact the Company’s ability
to carry out the program and could cause the program to be shut down; estimations of costs, and permitting time
lines; ability to obtain environmental permits, surface rights and property interests in a timely manner; currency
exchange rate fluctuations; requirements for additional capital; changes in the Company’s share price; changes to
government regulation of mining activities; environmental risks; unanticipated reclamation or remediation expenses;
title disputes or claims; limitations on insurance co verage, fluctuations in the current price of and demand for
commodities, particularly gold prices, as they are fluctuating currently due to market volatility; material adverse
changes in general business, government and economic conditions in the Company’s operating jurisdictions,
particularly Argentina; the availability of financing if and when needed on reasonable terms; risks related to material
labour disputes, accidents, or failure of plant or equipment; there may be other factors that cause results no t to be
as anticipated, estimated, or intended, including those set out in the Company’s annual information form and annual
management discussion and analysis for the year ended December 31, 2025, which are available on the Company’s
website and SEDAR+ at www.sedarplus.ca under the Company’s profile.
The forward-looking information contained in this news release is based on information available to the Company as
at the date of this news release. Except as required under applicable securities legislation, the Company does not
undertake any obligation to publicly update and/or revise any of the forward-looking information included, whether
as a result of additional information, future events and/or otherwise. Forward -looking information is provided for
the purpose of providing information about management's current expectations and plans and allowing investors
and others to get a better understanding of the Company's operating environment. Although the Company has
attempted to identify important factors that would cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or
intended. There can be no assurance that such statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such statements. All the forward -looking information
contained in this document is qualified by these cautionary statements. Readers are cautioned not to place undue
reliance on forward-looking information due to the inherent uncertainty thereof.
Cautionary Note to U.S. Readers
Information concerning the mineral properties of the Company contained in this news release has been prepared in
accordance with the requirements of Canadian securities laws, which differ in material respects from the
requirements of securities laws of the United States applicable to U.S. companies subject to the reporting and
disclosure requirements of the United States Securities and Exchange Commission.
437500E
6856000N
Jupiter Mars
Saturn
JUNE 2026
Lunahuasi Project
Plan View
Overburden
Alluvial
Colluvial
Lithology
Silicified structural zone
Volcaniclas c sequence (rhyolite tuff, breccia)
Volcaniclas c sequence (andesite, sandstone, conglomerate)
Quartz diorite porphyry
Access track
Length m @ CuEq %
Cu % / Au gpt / Ag gpt
NORTH
Phase 1, 2, 3 Holes
Phase 4 Holes
0 1000m
DPDH066
DPDH064
DPDH027
2.0 - 4.0 %
4.0 - 10.0 %
> 10.0 %
CuEq %
1.0 - 2.0 %
88.00m @ 8.65
6.49/1.91/87.8
394.00m @ 0.24
0.17/0.05/3.9
156.00m @ 1.00
0.78/0.26/3.6