NGEX Minerals Announces Option to Acquire Valle Ancho GOLD Project IN Catamarca Province Argentina
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NEWS RELEASE
NGEX MINERALS ANNOUNCES OPTION TO ACQUIRE VALLE ANCHO GOLD PROJECT
IN CATAMARCA PROVINCE ARGENTINA
VANCOUVER, September 8, 2019 - NGEx Minerals Ltd. (TSX-V: NGEX ) (the “Corporation” or
“NGEx”) announces that it has entered into an option agreement with the Province of Catamarca, Argentina
to earn a 100% interest in the Valle Ancho, Interceptor, Filo de las Vicunas properties collectively the Valle
Ancho gold project.
Valle Ancho is a large land package held by the Province of Catamarca that covers ~100,000 Ha (1,000 sq
km) of underexplored and highly prospective ground on the Argentine side of Chile’s Maricunga Gold Belt
(Resources >100Moz gold). The project area lies along the Valle Ancho Lineament a major NW trending
structural corridor. Many of the major deposits in Chile and Argentina lie along similar NW trending
lineaments. Initial exploration work done in the 1990’s produced interesting results from a number of gold
and copper-gold targets. Highlights include historical drill intercepts of 62m @ 1.0 g/t Au and 108m @ 1.0
g/t Au. (Note these results are historical in nature and have not been verified by NGEx). To our knowledge
no significant exploration work has been undertaken in the area for almost 20 years
“Valle Ancho represents a very rare opportunity to acquire a very large land package that we believe has
excellent potential for both gold and copper-gold deposits, with near term drill targets developed by previous
explorers. The property lies in the underexplored Argentine half of one of the main gold belts in South
America”, said NGEx President and CEO Wojtek Wodzicki. “Catamarca is a mining friendly province where
the Lundin Group has a long history due to its key role in the development of the Bajo de la Alumbrera,
copper-gold mine which was Argentina’s largest mine for more than twenty years. The recent spinout of
NGEx allows our highly successful exploration team to return to its roots and we hope that this agreement
is just the first step in a new chapter of success . We believe that Valle Ancho is a valuable addition to our
existing portfolio.”
Previous work in the Valle Ancho area identified two copper-gold porphyry prospects and one high
sulfidation gold system. An initial review of satellite imagery identified 5 additional untested hydrothermal
alteration areas. The Corporation plans an initial work program involving compilation of historical data,
satellite image analysis to identify areas of hydrothermal alter ation, field examination and mapping of
existing prospects, followed by an airborne geophysical survey. The objective of the initial program will be
to develop targets for future drill testing.
NGEx has the option to acquire a 100% interest in the projec t by making $8.2 million in expenditures over
2 years.
About NGEx Minerals
NGEx Minerals Ltd. is a Lundin Group copper and gold exploration company based in Canada with projects
in Chile and Argentina. NGEx holds the large-scale Los Helados copper-gold deposit , located
in Chile's Region III, as well as other early-stage projects located in Argentina. NGEx is the majority partner
and operator for the Los Helados Project, subject to a Joint Exploration Agreement with its joint exploration
partner in Chile, Pan Pacific Copper Co., Ltd. NGEx is actively seeking to add to its portfolio of projects as
part of its overall growth strategy. The Corporation is listed on the TSX-V under the trading symbol NGEX.
QP and Technical Information
Technical information in this news release has 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 Corporation.
Reverse circulation d rilling was completed by Eldorado Gold Corporation during the 1995/1996 season.
NGEX has reviewed the original annual exploration report detailing the drilling and sampling methodology
as well as the original assay certificates. Samples were collected every two metres and were split twice
resulting in 1/8 of the original sample being retained for analysis. Field duplicates were included in the
sample batches ; however, no assay standards or blanks were included. Analyses were completed by
Bondar Clegg Inchcape Testing Services in North Vancouver, Canada. Bondar Clegg Inch cape was an
accredited assay lab which was independent of Eldorado Gold Corporation. Gold analyses were by fire
assay fusion with AAS finish on a 30g sample. In addition, NGE x has reviewed chips from the sample
intervals. Drilling, sampling and assaying was done to industry standards at the time, and NGE x has no
reason to believe that the analytical data reported here is inaccurate , however the Corporation has not
completed its own sampling to independently verify the assay results.
On behalf of the board of directors of NGEx Minerals ,
Wojtek Wodzicki,
President and CEO,
NGEx Minerals Ltd.
For further information, please contact:
Michelle Fyfe, Investor Relations, Canada - +1-604-689-7842; or [email protected]
Cautionary Note Regarding Forward-Looking Statements
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”). The forward-looking information contained
in this news release is based on information available to the Corporation as of the date of this news release. Except as
required under applicable securities legislation, the Corporation does not intend, and does not assume any obligation,
to update this forward -looking information. Generally, this forward -looking information can frequently, but not always,
be identified by use of forward -looking terminology such a s "plans", "expects" or "does not expect", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends", "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", "might" or "will be taken", "occur" or "be achieved" or the negative connotations thereof. All statements
other than statements of historical fact may be forward-looking statements.
Forward-looking statements contained in this news release include statements regarding the exploration potential of
the Valle Ancho Property and the Corporation’s ability to execute the planned exploration program . Although the
Corporation believes that the expectations r eflected in such forward -looking statements and/or information are
reasonable, undue reliance should not be placed on forward -looking statements since the Corporation can give no
assurance that such expectations will prove to be correct. These statements i nvolve known and unknown risks,
uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such
forward-looking statements, including the risks, uncertainties and other factors identified in the Corporation’s periodic
filings with Canadian securities regulators. In addition, these statements involve assumptions made with regard to the
Corporation’s ability to execute its planned work programs at Valle Ancho ; the ability to raise the capital required for
future exploration programs and including any future drill programs; and the results and impact of future exploration at
the Valle Ancho Project.
The forward-looking statements contained in this news releas e are made as at the date of this news release and the
Corporation does not undertake any obligations to publicly update and/or revise any of the included forward -looking
statements, whether as a result of additional information, future events and/or other wise, except as may be required
by applicable securities laws. 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 understandin g of the
Corporation's operating environment. Forward-looking information is based on certain assumptions that the Corporation
believes are reasonable, including that the current price of and demand for commodities will be sustained or will
improve, the su pply of commodities will remain stable, that the general business and economic conditions will not
change in a material adverse manner, that financing will be available if and when needed on reasonable terms and that
the Corporation will not experience any material labour dispute, accident, or failure of plant or equipment. These factors
are not, and should not be construed as being, exhaustive. Although the Corporation has attempted to identify important
factors that would cause actual results to differ ma terially 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 fu ture 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 Corporation 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.
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