NGEx Minerals Ltd. (TSX: NGEX) (OTCQX: NGXXF) is pleased to announce results of the final four 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 DPDH073 intersected:
  • 546.30m at 1.19% CuEq from 446.00m, including
    • 34.00m at 4.68% CuEq from 567.00m
    • 4.30m at 9.26% CuEq from 755.00m
• Drillhole DPDH075 intersected:
  • 14.00m at 5.92% CuEq from 323.00m
  • 13.50m at 11.36% CuEq from 385.50m, including
    • 2.00m at 43.95% CuEq from 395.00m
  • 6.00m at 10.60% CuEq from 595.00m
• Drillhole DPDH076 intersected:
  • 10.70m at 6.85% CuEq from 136.00m
• Drillhole DPDH078 intersected:
  • 95.00m at 4.77% CuEq from 246.50m, including
    • 20.50m at 17.83% CuEq from 284.00m

Wojtek Wodzicki, President and CEO, commented, “These latest drill results wrap up a very successful fourth drilling season at Lunahuasi, the results of which demonstrate the continued upside of the mineralized system at Lunahuasi – the more we drill the bigger it gets. It is becoming evident that Lunahuasi is a unique system which encompasses the entire range of porphyry-related mineralization types. It is very rare to have a complete system like this to explore; from distal ultra-high grade epithermal gold-quartz veins, through a broad halo of high-sulphidation epithermal mineralization, including massive sulphide veins, to classic potassic altered copper-gold porphyry mineralization at the core of the system. Our location in the middle of the giant deposits of the Vicuña District combined with the extent of the mineralization we have drilled to date give us confidence that we are a long way from fully defining this system. With Phase 4 now complete, we are busy updating our geological model and interpretation. We are now in the midst of planning for the upcoming Phase 5 program, which will include development of an exploration adit in addition to another large drill program focused on continuing to grow the system and discover additional deposits within it.”

Lunahuasi Geology Drill Plan 2026 July 2

Table 1: Significant Intersections

DPDH073 was drilled from the same platform as last season’s DPDH029 at an azimuth of 215^o and a dip of -52^o to test the southern extension of the Lunahuasi mineralization. This hole successfully extended the system by 120m to the south, and it remains open in the same direction beyond this hole. The hole is characterized by long zones of disseminated and stockwork HS mineralization punctuated by high-grade high-sulphidation veins that occur over almost the entire length of the hole. Correlation with hole DPDH029 to the north strongly suggests that the hole would have continued to intersect good mineralization had it not been terminated as a result of the end of the drill season. Re-entering and continuing this hole is being considered for Phase 5.

DPDH075 was drilled from a platform used by several holes into the Mars zone at an azimuth of 320^o and a dip of -58^o to test the northern extension of the Lunahuasi mineralization, particularly the Mars zone. The Mars zone extension was intersected as two zones between 323.00m and 337.00m and 385.50m and 399.00m reflecting an interpreted bifurcation of the zone. Both intersections are characterized by typical Mars zone gold-rich massive sulphide zones with high-grade sub-intervals including 4.00m at 14.34% CuEq in the first interval and 2.00m at 43.95% CuEq in the second interval. These zones are interpreted to correlate with DPDH070 between 334.90m and 352.20m and extend the zone by 70m and 80m respectively to the northeast of that interval. Both intervals in DPDH075 show the same high gold grades as the intersection in DPDH070. The zone remains completely open to expansion beyond DPDH075.

The hole continued on to intersect two other significant zones representing extensions to additional mineralized structures to the west of Mars.

DPDH076 targeted the southern extension of the Mars zone, drilled with an azimuth of 318^o and a dip of -56^o. The zone was intersected between 126.60m and 176.00m and included a high-grade core of 10.70m at 6.85% CuEq. This hole extends the Mars zone by 64m southwest of DPGT004.

DPDH078 also targeted Mars, to the northeast of DPDH076 at an azimuth of 283^o and a dip of -45^o. This hole successfully returned a very strong Mars zone intersection, with a 20.50m interval at 17.83% CuEq including two high-grade gold intervals of 2.30m at 76.43 g/t Au (including 1.00m at 135.50 g/t Au) and 3.50m at 21.30 g/t Au. This intersection is 190m southwest of the lower intersection in DPDH075.

Discussion

Holes DPDH073 and DPDH075 provide some of the most southern and northern mineralized intersections in Lunahuasi and clearly leave the deposit open to expansion in both directions.

DPDH073 ended in mineralization and strong alteration at the end of the drill season and indicates that the alteration intensity and mineralization remain strong to the south and provide good evidence for continuing deposit extension in this direction and to the west.

Holes DPDH075, DPDH076 and DPDH078 all targeted Mars, successfully intersecting the zone as expected and providing confidence in our interpretation of Mars as a high-grade, northeasterly trending gold-rich massive sulphide vein with a minimum strike length of 200m and a minimum dip length of 250m which 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 and all assay results have now been released.

Table 2: Drillhole Information

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.