NGEx Reports Lunahuasi Step-Out Drilling Intersects 726.5m at 1.66% Copper Equivalent (“CuEq”) and 58.1m at 6.04% CuEq, including 4.8m at 41.12% CuEq, Significantly Expanding High-Grade Mineralization
NGEx Minerals Ltd.
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Vancouver BC, Canada V7X 1L2
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NGEXminerals.com
NGEx Reports Lunahuasi Step-Out Drilling Intersects 726.5m at 1.66% Copper
Equivalent (“CuEq”) and 58.1m at 6.04% CuEq, including 4.8m at 41.12% CuEq,
Significantly Expanding High-Grade Mineralization
June 19, 202 4, Vancouver, British Columbia – NGEx Minerals Ltd. (“NGEx” , “NGEx Minerals” or the
“Company”) (TSX: NGEX ; OTCQX: NGXXF ) is pleased to report drill results from hole s DPDH019 through
DPDH023 from the Lunahuasi Project located in the Vicu ña District in San Juan Province, Argentina. These
results conclude a very successful 2023 – 2024 drill program that has begun to outline a very large volume of
altered and mineralized rock characterized by stockwork and disseminated mineralization , increasing in
intensity from east to west and with depth , cut by a swarm of mineralized structures consisting of breccias,
networks of veinlets , and massive sulphide veins which occur throughout the entire volume drilled to date.
These structures contain bonanza-grade copper, gold and silver values . Drilling to date has intersected
mineralization across a minimum east-west distance of 900m, along a minimum north-south distance of 400m
and at least 960m vertically and this volume remains open in all directions.
Wojtek Wodzicki, President and CEO, commented, “These latest results cap off a remarkably successful drill
program at Lunahuasi, which continues to surprise to the upside and to deliver some of the highest -grade
copper, gold, silver intercepts globally and is now beginning to demonstrate meaningful siz e potential in
addition to very high grades. Drilling this season has significantly expanded the mineralized volume which
remains open in all directions with most holes ending in good grade material. With cash and short -term
investments of approximately $49 million currently, the Company is well -positioned to continue to expand
what is shaping up to be a large and high -grade deposit in a district that is demonstrating globally significant
scale.”
The Company will host webinars on June 19 and June 21, 2024, to discuss the Lunahuasi drill results and provide
a general corporate update. For details on the webinars, please refer to the “Upcoming Webinars” section of
this news release.
Highlights
• Drillhole DPDH020 intersected 750.1m at 1.13% CuEq from 204.0m, including:
o 17.3m at 5.94% CuEq from 589.8m
• Drillhole DPDH021 intersected 772.5m at 1.60% CuEq from 430.0m, including:
o 58.1m at 6.04% CuEq from 438.0m
▪ Including 20.1m at 15.05% CuEq from 476.0m which included
▪ 4.8m at 41.12% CuEq from 480.5m
o 6.0m at 19.62% CuEq from 614.0m
o 7.1m at 9.57% CuEq from 810.0m
o Extends the strike length of the Lunahuasi Deposit to at least 400m
• Drillhole DPDH022 intersected 726.5m at 1.66% CuEq from 380.0m, including:
o 157.0m at 4.37% CuEq from 380.0m which included
▪ 38.9m at 10.04 g/t Au from 408.0m
▪ 9.3m at 11.61% CuEq from 492.7m
o 5.8m at 8.73% CuEq from 807.0m
o 9.6m at 10.08% CuEq from 972.5m
• Drillhole DPDH023 intersected 85.0m at 2.87% CuEq from 169.0m, including:
o 10.1m at 4.65% CuEq from 184.0m
o 6.0m at 12.39% CuEq from 248.0m
Intersection details, including e stimated true widths , are shown below. A dditional maps and figures of
Lunahuasi are attached to the end of this news release.
Table 1: Drill Hole Intercepts
Hole ID
From
(m)
To
(m)
Length
(m)
Est True
Width (m)
Cu
(%)
Au
(g/t)
Ag
(g/t)
CuEq
(%)
DPDH017 No Significant Results
DPDH019 524.0 538.0 14.0 7.5 0.24 0.29 8.8 0.53
plus 968.0 974.0 6.0 4.0 0.28 0.53 22.7 0.87
plus 1,088.0 1,098.0 10.0 7.0 0.27 0.33 3.6 0.55
plus 1,184.0 1,200.0 16.0 12.0 0.38 0.21 6.9 0.59
plus 1,270.0 1,338.0 68.0 52.0 0.21 0.22 17.2 0.52
plus 1,362.0 1,391.6 29.6 23.0 0.37 0.21 5.1 0.57
DPDH020 204.0 954.1 750.1 360.0 0.74 0.38 11.9 1.13
incl 268.0 276.0 8.0 4.0 1.26 2.27 10.3 3.01
and incl 439.0 443.0 4.0 2.0 4.34 1.17 16.0 5.33
and incl 498.5 501.4 2.9 2.0 7.76 1.25 20.3 8.85
and incl 589.8 607.1 17.3 8.0 4.87 0.72 61.0 5.94
and incl 660.5 661.5 1.0 0.5 20.77 3.25 198.0 24.88
and incl 742.5 753.4 10.9 6.0 3.45 0.94 18.3 4.30
and incl 802.5 810.5 8.0 4.0 6.74 2.16 55.4 8.81
DPDH021 430.0 1,202.5 772.5 564.0 1.02 0.64 14.2 1.60
incl 438.0 496.1 58.1 38.0 3.53 2.76 56.3 6.04
incl 476.0 496.1 20.1 13.0 9.18 6.86 98.5 15.05
incl 480.5 485.3 4.8 3.0 20.97 24.34 272.1 41.12
and incl 527.7 530.5 2.8 2.0 3.97 9.09 33.6 10.90
and incl 549.9 556.0 6.1 4.0 3.41 1.21 41.3 4.66
and incl 589.0 622.2 33.2 23.0 3.45 1.21 42.8 4.71
incl 598.0 601.0 3.0 2.0 5.07 2.22 90.4 7.48
incl 614.0 620.0 6.0 4.0 15.09 4.27 160.7 19.62
and incl 644.3 656.6 12.4 9.0 2.83 2.12 51.5 4.83
incl 810.0 817.2 7.1 5.0 6.68 2.64 110.2 9.57
incl 910.6 918.7 8.2 6.0 2.53 0.88 22.0 3.37
incl 970.0 975.3 5.3 4.0 0.97 4.10 11.2 4.05
incl 1,147.8 1,157.7 9.9 8.0 2.62 0.41 13.2 3.04
Hole ID
From
(m)
To
(m)
Length
(m)
Est True
Width (m)
Cu
(%)
Au
(g/t)
Ag
(g/t)
CuEq
(%)
DPDH022 178.0 186.0 8.0 5.0 0.13 0.95 21.5 1.01
plus 235.0 244.0 9.0 6.0 0.31 0.87 18.5 1.10
plus 264.0 275.7 11.7 7.0 0.62 0.65 12.0 1.20
plus 380.0 1,106.5 726.5 503.0 0.89 0.88 14.5 1.66
incl 380.0 537.0 157.0 100.0 1.86 3.03 33.6 4.37
incl 408.0 446.9 38.9 25.0 2.92 10.04 67.7 10.84
incl 492.7 502.0 9.3 6.0 7.97 3.39 132.9 11.61
incl 521.7 523.0 1.3 1.0 17.68 3.04 103.0 20.80
and incl 807.0 812.8 5.8 4.0 6.40 2.13 87.4 8.73
and incl 972.5 982.1 9.6 7.0 6.40 3.25 149.5 10.08
and incl 1,062.6 1,074.7 12.1 9.0 3.82 0.59 25.2 4.48
DPDH023 169.0 254.0 85.0 46.0 1.57 1.32 38.8 2.87
incl 175.0 177.4 2.4 1.3 3.59 2.30 118.6 6.31
and incl 184.0 194.1 10.1 6.0 2.44 2.46 46.4 4.65
and incl 215.0 224.0 9.0 5.0 2.48 2.12 72.1 4.66
and incl 235.0 238.7 3.7 2.0 6.79 2.44 159.8 9.98
and incl 248.0 254.0 6.0 3.0 7.30 5.51 122.2 12.39
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 recoveri es
assumed for all metals. The formula is: CuEq % = Cu % + (0.7292 * Au g/t) + (0.0088 * Ag g/t). True widths are estimated base d on a
preliminary geological interpretation and are subject to change as more information is acquired and the geological interpretation is
refined.
2023 – 2024 Drill Program Summary
Drilling this season has vastly improved our understanding of the key features of the Lunahuasi system and has
begun to outline a very large volume of altered and mineralized rock which displays two distinct styles of
mineralization stockwork and dissemina ted mineralization overprinted by high -grade structures. The entire
rock mass shows an increase in alteration intensity from east to west from propylitic alteration typical of the
outer halo of a porphyry system in the east to intense quartz-clay (argillic) alteration typical of more proximal
but still not central alteration. With the transition to higher temperature, more proximal alteration there is a
corresponding increase in intensity of stockwork and disseminated mineralization and pervasive disseminated
copper-gold-silver mineralization cut by a stockwork of pyrite-enargite veinlets in the west. All holes drilled to
date end in this style of mineralization.
This entire package of rock is then cut by a swarm of bonanza-grade structures consisting of breccias, networks
of veinlets and massive sulphide veins which occur uniformly throughout the entire volume drilled to date.
These veins contain extremely high copper, gold and silver values and occur across an east-west distance of at
least 900m, along a north-south distance of at least 400m and extend at least 960m vertically, and this volume
remains open in all directions. With the current drill spacing we are n ot yet able to confirm correlation of
individual intersections, however these structures appear to strike north to north -northeast (000 to 020) and
dip sub -vertically. This strike direction is consistent with the main regional -scale structural corridor whi ch
controls the Filo del Sol deposit located six kilometres to the south and continues through to the Los Helados
deposit located nine kilometres to the north. This structural corridor, which is approximately one kilometre
wide, passes through the Lunahuasi deposit and is a logical control on the mineralization.
Based on analogy to similar deposits it is likely that, at the deposit scale, the mineralized bonanza -grade
structures will demonstrate pinch-and-swell geometries, well-defined ore shoots and will bifurcate and display
local changes in strike and dip. Deta iled drilling and eventual underground development will be required to
fully understand the geometry and continuity of the bonanza -grade structures, but the number of individual
intersections and the widths and grades encountered to date provide clear evidence of the potential for a very
large-scale, high-grade deposit. The b roader intervals of stockwork and disseminated mineralization are less
structurally controlled and are likely to allow for wider spaced drilling.
On a broader scale, the increase in background alteration and mineralization from east to west provides a
vector towards a porphyry centre which is the source of the mineralization. Additional evidence for the
presence and location of this centre was provi ded by DPDH019 as described above. The pattern of alteration
and mineralization encountered to date is consistent with the zonation created by a porphyry system
transitioning outwards from a potassic core to peripheral argillic and distal propylitic alteration. In this setting,
the bonanza -grade structures are interpreted to be intermediate - to high -sulphidation epithermal veins.
Possible analogues to this style of mineralization are massive sulphide veins associated with certain large scale
porphyry syste ms such as at Chuquicamata and Collahuasi, both located in Chile. There are also certain
similarities to the veins previously mined at the El Indio mine further south in Chile and possibly the Victoria
vein swarm associated with the Far Southeast porphyry deposit in the Philippines.
These observations and interpretations will guide the planning for our next drill program which will begin early
in the fourth quarter of 2024 and continue to focus on exploration with an aim to determine the full size of the
bonanza-grade vein system and exploring the potential for additional high -grade porphyry +/ - high-
sulphidation epithermal mineralization to the south, east, and west, while also starting to delineate the
detailed geometry and continuity of the individual veins.
Drill Hole Details
DPDH017 was collared on Section 5875N, over 1 km east of the Lunahuasi deposit and drilled towards the east
at -55 degrees to a final depth of 393m. This hole was designed to test an inferred, possibly mineralized, NE -
trending structure along the eastern boundary of the Filo-Los Helados Structural Corridor. The hole intersected
a few 2m sample intervals of just under 1% CuEq in narrow structures but did not intersect more extensive
mineralization.
DPDH019 was collared on the top of the plateau approximately 750m above the collars of the other drill holes
in this release , on Section 5950N and drilled towards the east at a dip of -61 degrees to a final depth of
1,391.6m. The hole largely cut distal alteration and pyrite dominated stockwork veining typical of the upper
halo of the system and ended in a pyrite dominated stockwork zone above the elevation where stronger copper
mineralization occurs in other holes. Gold and s ilver in particular were increasing toward the bottom of the
hole with a number of 2m samples of higher grade intersected (e.g. 1,288m to 1,290m at 0.182% Cu, 0.904 g/t
Au, 227.0 g/t Ag and 1,316m to 1,318m at 0.117% Cu, 0.684 g/t Au, 222.0 g/t Ag).
The alteration and mineralization in DPDH019 confirm the presence of a copper-gold porphyry system to the
west of the current drill holes. Evidence for porphyry-type mineralization in this hole is provided by A- and B-
type quartz veinlets occurring over a 398m interval between 520m and 918m as well as an intense stockwork
of D-type veinlets (sericitic haloes around pyrite centrelines). These veinlets are dominated by either pyrite or
specularite and contain minor magnetite, chalcopyrite and molybdenite . The 398m interval averaged 0.12%
Cu, 0.17 g/t Au and 2.2g/t Ag.
The hole was ended due to rig capacity and the early onset of the winter weather conditions at Lunahuasi.
Nonetheless, hole DPDH019 provided critical information that will allow us to effectively target the centre of
the system in our next drill program.
DPDH020 was collared on Section 6200N and drilled towards the west at -55 degrees to a depth of 959m. The
hole intersected overburden to 72.0m where it entered quartz diorite which shows a sharp change in alteration
from propylitic to quartz-clay at 184.0m leading to the first mineralization at 204.0m. A long interval of closely
spaced veins and veinlets continues to the end of the hole. Within this mineralized zone, several discreet high-
grade veins stand out, as shown in the table above, including 17.3m at 5.94% CuEq from 589.8m , 1.0m at
24.88% CuEq from 660.5m and 8.0m at 8.81% CuEq from 802.5m.
The final 20m returned 0.90% CuEq (0.68% Cu, 0/19 g/t Au, 8.27 g/t Ag).
DPDH021 was collared on Section 5900N and drilled towards the west at -45 degrees to a depth of 1,205.5m.
This is the southernmost hole drilled into the Lunahuasi deposit and establishes a minimum 400m strike length
for the deposit, which remains wide open south of this hole.
The hole intersected 26m of overburden above quartz diorite bedrock which continued to the rhyolite contact
at 496m. Rhyolite was intersected to the end of the hole, cut by a few andesite dykes. Alteration is a mix of
propylitic and quartz-clay from the top of the hole, with the latter increasing with depth and becoming
pervasive by 430m.
Mineralization starts to appear around 206m associated with sporadic zones of silicification and quartz-clay
alteration, with a long homogeneous zone of near-continuous mineralization beginning at 430m corresponding
to the change in alteration. As with the other holes, several discreet zones of bonanza-grade mineralization cut
this section including 58.1m at 6.04% CuEq from 438.0m. Included within this interval is a 4.8m wide massive
sulphide intersection at 480.5m which assayed 20.97% Cu, 24.34 g/t Au and 272.1 g/t Ag. Another massive
sulphide zone at 614.0m returned 15.09% Cu, 4.27 g/t Au and 160.7 g/t Ag over 6.0m.
This hole was stopped in good mineralization due to rig capacity and the early onset of winter. The final 20m
returned 1.32% CuEq (1.07% Cu, 0.25 g/t Au, 7.1 g/t Ag).
DPDH022 was collared on Section 5600N, from the same platform as DPDH018 (see news release dated May
9, 2024), and drilled towards the west at an angle of -45 degrees to a final depth of 1,106.5m. This hole is
parallel to, and averages 100m away from, DPDH021 which allows for good correlation of geology and
mineralized zones between the two holes.
Lithology in hole 22 was very similar to that in hole 21, with quartz diorite intersected to a depth of 466m and
rhyolite from there to the end of the hole. Propylitic and quartz-clay alteration alternate to 343m where quartz-
clay becomes pervasive, continuing to the bottom of the hole.
Scattered mineralized zones above the main zone of continuous mineralization are more well-developed here
than in hole 21 with several zones noted between 178m and 275m. The main mineralized zone begins at 380m
and continues to the end of the hole. The average grade of this long interval is remarkably similar to hole 21 –
with 1.66% CuEq here compared to 1.60% CuEq in hole 21 – and is marked by slightly higher gold content (0.88
g/t compared to 0.64 g/t) and lower copper (0.89% compared to 1.02%).
This longer mineralized zone is again cut by several much higher -grade zones, including a 157.0m interval at
4.37% CuEq from 380.0m . This interval contains several higher -grade sub-intervals such as 38.9m at 10.84%
CuEq from 408.0m. Gold values are particularly high within this sub -interval and include 3.0m at 24.10 g/t Au
from 414.0m, 1.8m at 48.13 g/t Au from 427.0m and 2.3m at 48.60 g/t Au from 438.1m.
DPDH023 was collared on Section 6200N and drilled towards the east at an angle of -60 degrees to a depth of
254.0m. The hole was drilled in the opposite direction to the other holes to better understand the geometry
of the mineralized structures.
This hole starts in a younger volcaniclastic sequence which unconformably overlies the main quartz diorite /
rhyolite sequence at about 150m. A mix of rhyolite and quartz diorite affected by strong quartz-clay alteration
continues from here to the end of the hole. Mineralization occurs primarily in five high -grade structures as
shown in the table above. These correlate well with zones in holes DPDH010 and DPDH015 (see news releases
dated January 8, 2024, February 21, 2024, and April 30, 2024).
This hole was suspended due to the early onset of the winter season and will be continued during the next drill
campaign.
Table 2: Drill Hole Information
Hole ID East North Elev
(masl) Azimuth Dip Length Status
DPDH009 439040 6856277 4,683 263.59 -59.27 582.0 Completed
DPDH010 439035 6856223 4,684 269.75 -55.08 1,070.2 Completed
DPDH011 439090 6856275 4,658 270.22 -61.82 419.0 Completed
DPDH012 439195 6856275 4,626 269.55 -57.95 704.0 Completed
DPDH013 439090 6856224 4,663 272.42 -55.27 1,033.4 Completed
DPDH014 439190 6856224 4,634 270.71 -55.63 976.8 Completed
DPDH015 439040 6856224 4,682 268.77 -43.71 917.4 Completed
DPDH016 439140 6856125 4,659 270.48 -46.03 772.7 Completed
DPDH017 440255 6855875 4,542 134.97 -55.23 393.0 Completed
DPDH018 439214 6856000 4,705 283.78 -44.24 1,167.4 Completed
DPDH019 437555 6855951 5,358 069.83 -60.91 1,391.6 Completed
DPDH020 439294 6856188 4,657 266.75 -54.55 959.0 Completed
DPDH021 439222 6855912 4,743 265.30 -44.24 1,202.5 Completed
DPDH022 439210 6855997 4,706 268.54 -43.84 1,106.5 Completed
DPDH023 438852 6856212 4,777 079.61 -59.94 254.0 Completed
Upcoming Webinars
The Company is hosting the following webinars to discuss the Lunahuasi drill results and provide a general
corporate update.
Date: Wednesday, June 19, 2024, at 9:00 a.m. (Vancouver time)
Please click on the following link to access the webinar: NGEx Minerals Webinar
Passcode: 566039
Date: Friday, June 21, 2024, at 9:00 a.m. (Vancouver time)
Please click on the following link to access the webinar: NGEx Minerals Webinar
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 either Lima, Peru or Santiago, Chile 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. 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. 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, 9% of the submitted samples are Quality Control
samples. No data quality problems were indicated by the QA/QC program.
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). True widths are estimated based on a preliminary geological
interpretation and are subject to change as more information is acquired and the geological interpretation is
refined.
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 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 17 kilometres north of Los Helados. Lundin
Mining Corporation holds the remaining 51% stake in Caserones.
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:
NGEx Investor Relations
Email: [email protected]
Website: www.ngexminerals.com
Telephone: +1 (604) 689-7842
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 sta tements of historical facts included in this document constitute forward -
looking information, including but not limited to, statements regarding: the nature and timing of the work to be undertaken
to advance the Lunahuasi Project , including the Company’s a bility to continue holes in -progress in a future drill program ;
the potential for further discovery and/or extension of mineralized zones at the Lunahuasi Project;; the timing of, and
conclusions resulting from, an update to the geological interpretation at Lunahuasi ; and the Company’s ability to use
information gathered from drilling to date to effectively target and drill in future campaigns, including whether the timing
and ultimate outcome of the Company’s efforts to locate the centre of the Lunahuasi s ystem. 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", “pro jects”,
“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 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 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 pr ice; changes to government regulation of mining activities; environment al risks;
unanticipated reclamation or remediation expenses; title disputes or claims; limitations on insurance coverage,
fluctuations in the current price of and demand for commodities; material adverse changes in general business,
government and economic conditions in 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, 2023 , 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 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