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

Lunahuasi Geology Drill Plan 2026 April

Highlights:

• Drillhole DPDH061 intersected:
  • 100.25m at 4.33% CuEq from 287.00m, including
    • 5.00m at 9.99% CuEq from 310.00m
    • 33.85m at 7.25% CuEq from 350.65, including
      • 4.50m at 13.86% CuEq from 356.00m
      • 4.10m at 17.44% CuEq from 380.40m
  • 8.30m at 7.96% CuEq from 770.00m
  • 28.70m at 3.96% CuEq from 918.80m,including
    • 5.40m at 11.24% CuEq from 935.90m.
• Drillhole DPGT004 intersected:
  • 23.10m at 4.72% CuEq from 187.90m, including
    • 9.10m at 9.92% CuEq from 187.90m
  • 48.00m at 7.72% CuEq from 475.00m, including
    • 23.09m at 13.21% CuEq from 497.70m
  • 35.30m at 3.33% CuEq from 661.00m, including
    • 7.80m at 11.44% CuEq from 688.50m.

Wojtek Wodzicki, President and CEO, commented, “Today’s news release includes hole DPGT004, which is a geotechnical hole drilled along the centreline of the planned exploration adit. In addition to expected intersections of the Mars and Jupiter Zones, this hole highlighted the continuing exploration potential at Lunahuasi by discovering a new high-grade mineralized structure 300m to the east of Mars. This new zone is only 60m below surface and remains open in all directions. This drill hole highlights the fact that Lunahuasi system remains wide open even after the fourth season of drilling and, like many great metal deposits, continues to deliver positive surprises with ongoing exploration. We remain very bullish on the continued exploration upside at Lunahuasi. With achievement of all our objectives and the onset of winter weather at site, we have now concluded the Phase 4 program and all equipment and personnel are being demobilized. Assays are pending for the last sixteen holes, and we look forward to updating the market with these results as they come in over the coming weeks.

With completion of the Phase 4 program, we will begin planning for the Phase 5 program which is planned to start in the third quarter. In addition to the Phase 5 drilling program, we will be initiating construction of an exploration adit which will provide access for drilling the deposit from underground drill stations enabling us to maximize the efficiency of our drill programs and to map the mineralized zones in underground exposures, helping to improve our geological knowledge.”

Table 1: Significant Intersections

DPDH061 intersected the Mars Zone some 90m below DPDH054 (94.0m at 8.99% CuEq, 3.88% Cu, 6.66 g/t Au, 29.6 g/t Ag, see News Release dated January 12, 2026), intersecting a wide zone of mineralization (287.00m to 387.25m) comprised of an upper gold-rich zone from 310.00m to 330.00m and a lower copper-rich zone from 350.65m to 384.50m. The hole continued to a final depth of 1,302.00m and intersected several deeper mineralized zones, one of which may be the down-dip continuation of the Jupiter Zone.

DPDH065 was designed to test the northern extension of the Jupiter Zone and explore the area to its west and at depth. The interpreted extension of the zone was intersected between 188m and 200m and is represented by a zone of strong advanced argillic alteration with moderate copper, gold and silver values. The hole continued to a final depth of 708.20m, intersecting two additional mineralized alteration corridors.

DPGT004 was a geotechnical hole drilled along the centreline of the planned exploration adit to provide geotechnical and hydrogeological data needed for the adit design. The highlight of the hole was the discovery of a previously unknown high-grade zone some 300m to the east of Mars. This new zone, starting at only 187.9m down the hole, returned 23.10m at 4.71% CuEq including a 4.20m interval of 17.94% CuEq, showing all the characteristics of other high-grade zones in the deposit and demonstrating clear exploration potential. This intersection confirms that Lunahuasi remains open to the east of our current drill collars and opens up a new front for future exploration.

A strong Mars Zone intersection starting at 475.00m was very close to its expected location, returning 48.00m at 7.72% CuEq and including a 23.09m section at 13.21% CuEq. A gold-rich sub-interval of 7.30m at 15.90 g/t gold confirmed the extent and continuity of high-grade gold in the Mars Zone. This interval is interpreted to be continuous with the intersection in DPDH061 from 350.65m which is 180m away.

The hole continued 200m past the planned end of the main adit in order to test the Jupiter Zone which was again intersected at the expected depth of 661.00m, returning 35.30m at 3.33% CuEq with higher grade sub-intervals as shown in Table 1.

Phase 4 Progress

The Phase 4 program is now complete, with a total of 27,318m drilled and 32 holes completed. Assay results from the final sixteen holes will be released once assays are received, analyzed, and confirmed by the Company.

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). 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 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.

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.