NGEx Minerals Ltd. (TSX: NGEX) (OTCQX: NGXXF) is pleased to announce drill results from four holes at the ongoing Phase 4 drill program at its 100% owned Lunahuasi high-grade copper-gold-silver project in San Juan, Argentina.

Highlights:

• Drillhole DPDH049 intersected 1,246.50m at 0.86% CuEq from 116.50m, including;
  • 13.61m at 6.15% CuEq from 724.49m,
  • 7.45m at 15.03% CuEq from 941.45m,
  • 3.60m at 26.87% CuEq from 1,003.40m.
• Drillhole DPDH055 intersected 49.00m at 2.29% CuEq from 858.00m, including;
  • 2.00m at 19.91% CuEq from 858.00m.
• Drillhole DPDH057 intersected 131.00m at 5.09% CuEq from 424.00m, including;
  • 30.00m at 7.91% CuEq from 468.20m,
  • 5.00m at 29.05% CuEq from 476.20m,
  • 40.20m at 6.09% CuEq from 514.80m.
• Drillhole DPDH060 intersected 32.30m at 4.95% CuEq from 223.00m, including;
  • 2.70m at 19.85% CuEq from 245.30m, plus
  • 1.80m at 14.17% CuEq from 368.20m.

Wojtek Wodzicki, President and CEO, commented, “These latest results highlight two of the mineralization types occurring at Lunahuasi, a broad zone of stockwork and disseminated mineralization with an intersection over a kilometer in length, and very high-grade massive sulphide vein mineralization. Both styles of mineralization are important at Lunahuasi and demonstrate the size, strength, and optionality of the mineralized system. The intercept in DPDH057 is an initial test of the “wedge” of untested potential that lies between current drill holes and the surface. The Saturn zone remains completely open between this intersection and surface which is 400m vertically above. This season’s drilling is helping us to better understand the size and shape of the high-grade zones and helping to extend and further define the broader envelope of stockwork and disseminated mineralization, building confidence in our geological model. We are also expanding the boundaries of Lunahuasi as we continue to extend the mineralized envelope. With over 17,000m drilled and fifteen holes completed to date in Phase 4, our drill program is ahead of schedule and achieving the objectives we set out at the beginning of the season. We are now drilling some exciting step-out and blue-sky exploration holes and look forward to providing regular market updates as results come in over the next few months.”

Lunahuasi Geology Drill Plan 2026 Feb

Table 1: Significant Intersections

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. True widths should be regarded as approximate as these are derived from an estimation that uses 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.

DPDH049 targeted the Saturn Zone, intersecting it between 609.40m and 738.10m, including a higher-grade sub-interval from 677.00m to 738.10m as shown in Table 1. The hole continued to a final depth of 1,487.00m, intersecting continuous disseminated and stockwork mineralization to the west of Saturn including two very high-grade intervals from 941.45m to 948.90m and 1,003.40m to 1,007.00m.

DPDH055 also targeted the Saturn Zone, 150m vertically below hole DPDH050. The zone was intersected as a broad interval of mineralization between 640.00m and 907.00m and included several higher-grade intercepts as shown in Table 1. The Saturn Zone remains completely open below this intersection. This hole also intersected two shallower mineralized zones from 196.00m to 256.40m and 365.00m to 390.00m. These intercepts may represent southern extensions of the Mars Zone or potentially new mineralized zones which had not been previously intersected.

DPDH057 was designed to intersect the Saturn zone 250m vertically above the intersection in DPDH049 which it successfully did, intersecting the zone between 424.00m and 555.00m. This broad interval contains several very high-grade sub-intervals and is one of the shallowest intersections of the Saturn Zone. The zone remains completely open between this intersection and surface which is 400m vertically above. The hole continued to a final depth of 799m, through a wide interval of disseminated and stockwork mineralization cross-cut by several high-grade structures.

DPDH060 targeted an interpreted extension of the Mars Zone to the northeast of DPDH054, successfully intersecting it between 223.00m and 255.30m and extending it by approximately 70m. The zone remains open to the north beyond this hole as well as up and down dip.

Phase 4 Progress

To date, over 17,000m have been drilled during Phase 4 with fifteen holes completed and eight underway. Drill hole targeting has shifted to larger step-outs and testing new exploration targets, and four of the eight current holes are over 1,000m deep.

Of the completed holes, two have been drilled into the Jupiter Zone, two into Mars and nine into Saturn. In addition to the exploration holes, the adit centerline geotechnical hole is being extended in order to intersect the Jupiter Zone.

An interactive 3D visualization of drill results can be found on the Company website HERE and will be updated shortly after the release of new drill results.

Additional assay results will be released once assays are received, analyzed, and confirmed by the Company.

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). Any samples returning > 10 g/t 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 secondary 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 Nippon Caserones Resources LLC, which is the indirect 30% owner of the operating Caserones open pit copper mine located approximately 17 kilometres north of Los Helados. Lundin Mining Corporation holds the remaining 70% stake in Caserones.