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NGEX.TO ·

NGEX Obtains Conditional Approval to Graduate to the Toronto Stock Exchange

Listings & Exchange

NGEx Minerals Ltd.

2000 – 885 West Georgia Street

Vancouver BC Canada V6C 3E8

T +1 604 689 7842

F +1 604 689 4250

[email protected]

NGEXminerals.com

NGEX OBTAINS CONDITIONAL APPROVAL TO GRADUATE TO THE

TORONTO STOCK EXCHANGE

February 14, 2024, Vancouver, B ritish Columbia – NGEx Minerals Ltd. (TSX -V: NGEX) (“ NGEx”, “NGEx

Minerals” or the “ Company”) is pleased to announce that it has received conditional approval to list its

common shares on the Toronto Stock Exchange (“TSX”) and graduate from the TSX Venture Exchange (“TSX -

V”).

Final approval of the listing is subject to the Company meeting certain customary requirements of the TSX,

including receipt of all required documentation. The Company will issue a news release once the TSX confirms

the date when trading of NGEx’s common shares is expected to commence on the TSX. Once listed on the TSX,

the Company’s common shares will be delisted from the TSX-V.

Shareholders are not required to exchange their share certificates or take any other action in connection with

the TSX listing, as there will be no change in the trading symbol or CUSIP for the common shares.

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 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 Minerals owns 100% of Lunahuasi and is the majority partner and operator for the Los Helados project,

subject to a Joint Exploration Agreement with Nippon Caserones Resources LLC, which is the indirect 49%

owner of the operating Caserones open pit copper mine located approximately 1 7 kilometres north of Los

Helados. Lundin Mining Corporation holds the remaining 51% stake in Caserones.

The Company is listed on the TSX Venture Exchange under the trading symbol "NGEX". NGEx Minerals is part

of the Lundin Group of Companies.

For Further Information:

NGEx Investor Relations

Email: [email protected]

Website: www.ngexminerals.com

Telephone: +1 (604) 689-7842

Additional information relating to NGEx Minerals Ltd. may be obtained or viewed on the SEDAR + website at

www.sedarplus.ca.

Additional Information

Neither the TSX Venture Exchange (“TSX-V”) nor its Regulation Services Provider (as that term is defined in the

policies of the TSX-V) 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 listing of NGEx’s common shares on the TSX

and the delisting of NGEx’s common shares on the TSX -V. Words such as "plans", "expects" or "does not expect", "is

expected", "budget", "scheduled", "targets", "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 nega tive connotations thereof and

similar expressions identify forward-looking information.

Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation,

the expectations and beliefs of management with respect to the Company satisfying all requirements in order to obtain

final approval of the TSX for the listing of the NGEx common shares on the TSX. 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 expe cted 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 f rom those anticipated in such forward -looking statements

and undue reliance should not be placed on such statements and information. Such factors include those risks, uncertainties

and other factors identified in the Company's periodic filings with Canadia n securities regulators which are available on

SEDAR+ at www.sedarplus.com 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 t o publicly update and/or revise any of the included forward -looking information, 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 eve nts 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 informat ion 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.