NGEx Drills 19.00m at 25.84% CuEq Within 57.75m at 9.41% CuEq at Lunahuasi July 08, 202 6, Vancouver, British Columbia – NGEx Minerals Ltd. (“NGEx”, “NGEx Minerals” or the “Company”) (TSX: NGEX; OTCQX: NGXXF) is pleased to announce results of five drill holes from the Phase
NGEx Minerals Ltd.
2800 – 1055 Dunsmuir Street
Vancouver BC, Canada V7X 1L2
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NGEXminerals.com
NGEx Drills 19.00m at 25.84% CuEq Within 57.75m at 9.41% CuEq at Lunahuasi
July 08, 202 6, Vancouver, British Columbia – NGEx Minerals Ltd. (“NGEx”, “NGEx Minerals” or the
“Company”) (TSX: NGEX; OTCQX: NGXXF) is pleased to announce results of five 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 DPDH069 intersected:
o 21.30m at 5.99% CuEq from 522.00m, including
▪ 2.45m at 20.66% CuEq from 540.85m
• Drillhole DPDH071 intersected:
o 573.40m at 2.17% CuEq from 274.60m, including
▪ 22.10m at 4.98% CuEq from 339.70m
▪ 9.00m at 13.07% CuEq from 489.00m
▪ 30.00m at 4.99% CuEq from 645.00m
▪ 46.00m at 4.83% CuEq from 733.00m, including
▪ 15.00m at 8.74% CuEq from 764.00m
• Drillhole DPDH072 intersected:
o 11.40m at 8.08% CuEq from 215.00m
o 207.00m at 2.37% CuEq from 639.00m, including
▪ 3.50m at 30.49% CuEq from 726.00m
▪ 11.50m at 8.95% CuEq from 760.50m
• Drillhole DPDH077 intersected:
o 57.75m at 9.41% CuEq from 310.25m, including
▪ 19.00m at 25.84% CuEq from 326.00m, including
• 8.00m at 37.38% CuEq from 331.00m
Wojtek Wodzicki, President and CEO, commented, “Drillhole DPDH077 is a good reminder that the Jupiter
Zone, which was first intersected by the Lunahuasi discovery drillhole, is not to be overlooked . We have
fewer holes into Jupiter than Saturn or Mars , but several intersections across a n area of 400 x 500m
highlight the potential of this third major zone within the overall Lunahuasi deposit. Holes DPDH069 and
DPDH072 are step out holes on Saturn , expanding the zone by over 100m up -dip and down -plunge,
respectively. Saturn remains open in all directions. Our team is now focused on updating our geological
interpretation with the information gathered during the Phase 4 drill program and developing a robust
geological model which will guide our planning for Phase 5 drilling.”
Table 1: Significant Intersections
Hole ID From
(m) To (m) Length
(m)
Est True
Width
(m)
Cu % Au g/t Ag g/t CuEq %
DPDH069 437.00 451.40 14.40 13 1.07 1.31 37.6 2.35
plus 518.00 663.00 145.00 135 1.18 0.81 27.2 2.01
incl 522.00 543.30 21.30 20 3.50 2.37 85.3 5.99
and incl 540.85 543.30 2.45 2.3 11.28 9.89 247.7 20.66
and incl 657.00 663.00 6.00 5.6 5.17 2.28 107.7 7.78
DPDH071 274.60 848.00 573.40 573 1.27 0.88 28.6 2.17
incl 274.60 286.00 11.40 6.3 3.45 2.49 143.4 6.52
and incl 339.70 361.80 22.10 18 2.50 1.86 128.3 4.98
and incl 430.00 436.00 6.00 5.4 3.15 2.69 27.3 5.35
and incl 489.00 498.00 9.00 7.5 7.71 6.72 52.0 13.07
and incl 561.70 577.30 15.60 13 4.83 4.37 94.4 8.85
incl 568.00 570.40 2.40 2.0 15.01 6.50 120.7 20.81
and incl 645.00 675.00 30.00 27 2.69 1.97 98.4 4.99
incl 661.35 665.00 3.65 3.3 10.45 7.52 567.4 20.92
and incl 733.00 779.00 46.00 41 3.64 1.08 45.5 4.83
incl 764.00 779.00 15.00 14 6.94 1.98 40.5 8.74
and incl 830.00 833.60 3.60 3.3 7.07 0.71 28.9 7.84
DPDH072 193.00 256.70 63.70 34 1.43 1.80 40.2 3.10
incl 215.00 226.40 11.40 6.0 3.75 4.82 93.1 8.08
and incl 248.00 253.70 5.70 3.0 3.19 2.03 122.8 5.75
plus 639.00 846.00 207.00 110 1.44 1.20 6.5 2.37
incl 672.00 682.50 10.50 6.0 5.13 0.80 17.7 5.87
and incl 726.00 729.50 3.50 2.0 5.90 33.53 15.6 30.49
and incl 760.50 772.00 11.50 6.0 4.07 6.26 35.8 8.95
incl 768.00 772.00 4.00 2.0 0.51 16.58 24.0 12.81
plus 888.50 892.50 4.00 2.0 3.30 0.77 64.8 4.43
DPDH074 408.00 529.50 121.50 61 0.66 0.72 19.6 1.35
incl 408.00 424.35 16.35 8.5 1.28 1.95 32.1 2.98
and incl 501.00 510.00 9.00 4.5 1.88 1.38 49.2 3.32
DPDH077 89.00 104.00 15.00 10 0.88 3.14 12.2 3.27
plus 174.80 178.00 3.20 3 2.36 3.60 36.6 5.31
plus 310.25 368.00 57.75 23 6.51 2.50 121.8 9.41
incl 326.00 345.00 19.00 7.6 18.84 5.54 336.7 25.84
incl 331.00 339.00 8.00 3.2 27.23 8.44 454.6 37.38
and incl 367.00 368.00 1.00 0.4 0.07 15.35 143.0 12.52
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 reflects the precision of the estimates. Estimated true widths should be regarded as approximate as these use a preliminary
interpretation of the geological model, augmented by oriented core data, 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.
DPDH069 was drilled at an azimuth of 275o and a shallow dip of -31o to test the Saturn Zone up dip from
holes DPDH021 and DPDH057. The zone was intersected over 145m, from 518m to 663m , and remains
open between this intersection and surface, just over 300m above.
DPDH071 was drilled from the same platform as DPDH044, DPDH051 and DPDH059 at an azimuth of 181o
and a dip of -50o to drill along the Saturn Zone above those holes. The 573.4m long mineralized interval
from 274.6m to 848.0m reflects part of the strike length of the zone, cutting diagonally across it and is
comprised of moderate grade disseminated and stockwork mineralization cut by several much higher-
grade veins as indicated by the sub-intervals.
DPDH072 was a step out hole down plunge from DPDH055 and DPDH056, with an azimuth of 293o and a
dip of -67o. The hole intersected a shallow zone starting at 193.0m and extending over 63.7m which may
correlate with the first zone intersected in the adit geotechnical hole (DPGT004) 300m to the northeast.
This zone included a higher-grade intersection of 8.08% Cu Eq over 11.4m and is open to the northeast.
The hole then intersected Saturn beginning at 639.0m and continuing for at least 207.0m to 846.0m. As
noted below, the western contact is often ambiguous as mineralization, punctuated by high-grade veins,
continues to at least the end of the hole at 941.0m.
DPDH074 was another shallow hole drilled southwesterly towards the top of the Saturn Zone, at an
azimuth of 234o and a dip of -29o, intersecting the zone 80m below DPDH069. The Saturn Z one was
intersected over 121.5m, from 408.0m to 529.5m, however the grade was lower than surrounding holes,
primarily due to the number and width of high-grade veins intersected.
DPDH077 was drilled at an azimuth of 303o and a dip of-45o to test the Jupiter Zone down dip from holes
DPDH009 (62.00m at 6.98% CuEq; 3.75% Cu, 3.43 g/t Au, 83.1 g/t Ag) and DPDH010 (62.60m at 5.84%
CuEq; 3.10% Cu, 2.09 g/t Au, 138.3 g/t Ag). The hole intersected a thick massive sulphide vein at 326m
with exceptional grades, extending the zone by about 100m from the intersection in DPDH009 and 70m
from the intersection in DPDH010. It remains open in several directions from this new intersection.
Discussion
Hole DPDH077 extends the Jupiter Zone and highlights the very high grades present within this structure.
Jupiter has been drilled by fewer holes than Mars or Saturn, primarily due to geometry challenges in
targeting the zone from surface. In addition to holes DPDH009 and DPDH010 noted above, s ignificant
Jupiter intersections include DPDH007 (13.7m at 8.10% CuEq; see News Release dated July 4, 2023) and
DPDH043 (46.80m at 9.55% CuEq; see News Release dated July 2, 2025) 330m down dip and 330m to the
northeast respectively. Together, these intersections indicate significant size potential for Jupiter and
targeting this will be a priority for the Phase 5 program.
Holes DPDH069, 71, 72 and 74 intersected the Saturn Zone across a wide area, helping to outline its
dimensions and grade distribution. Our current interpretation is that Saturn is a large, structurally
controlled zone of disseminated and stockwork mineralization cut by numerous high to very high -grade
veins of various orientations. The eastern contact is quite sharp, marked by a distinct increase in
mineralization with a consistent change to advanced argillic alteration. The western contact is more
difficult to define, as there is no similar sharp cutoff in mineralization or alteration , just an apparent
decrease in the density of the high-grade veins as the system transitions into disseminated and stockwork
mineralization. This change is thought to be in part due to a change in lithology from diorite porphyry in
the east to rhyolite and andesite volcanic rocks in the west, with the Saturn Zone occurring near to the
contact.
The shallow, high-grade zone in hole DPDH072, from 193.0m to 256.7m, may be part of an emerging new
zone to the east of Saturn. This zone is tentatively correlated with DPGT004 (9.10m at 9.92% CuEq; 6.36%
Cu, 3.47 g/t Au, 116.9 g/t Ag; see News Release dated April 30, 2026) 300m to the northeast and DPDH041
(8.30m at 12.38% CuEq; 7.77% Cu, 4.01 g/t Au, 191.2 g/t Ag; see News Release dated July 2, 2025) 100m
to the southwest and remains open in all directions.
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 five 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 Complete
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 Complete
DPDH072 439,218 6,855,991 4,703 292.4 -66.8 941.0 Complete
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 Complete
DPDH075 439,307 6,856,188 4,631 319.0 -58.2 764.0 Assays Pend.
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 Complete
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 assays 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 sequential
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, preparation, 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 Helados 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”). A ll 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 including apparent correlati ons between drill holes and its ultimate size,
strength, and grade distribution; the nature and timing of the work to be undertaken to advance the Lunahuasi
project, including the timing of the Phase 5 program ; the timing of drill 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", "intends",
“projects”, “budgets”, “assumes”, “strategy”, “objectives”, “potential”, “possible”, "anticipates" or "does not
anticipate", or "believes", or vari ations 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 this 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 risks, 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, without 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 env ironmental 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 coverage, fluctuations in the current price of and demand for
commodities, particularly gold prices, as they are fluctuating currently due to ma rket 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 not 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, 202 5, 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 managemen t'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
JULY 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
DPDH072
DPDH077
DPDH069
DPDH071
DPDH074
2.0 - 4.0 %
4.0 - 10.0 %
> 10.0 %
CuEq %
1.0 - 2.0 %
57.8m @ 9.41
6.51/2.50/121.8
573.4m @ 2.17
1.27/0.88/28.6
11.4m @ 8.08
3.75/4.82/93.1
207.0m @ 2.37
1.44/1.20/6.5
145.0m @ 2.01
1.18/0.81/27.2