NGEx Minerals Closes C$175 Million Private Placement

Executive Summary

• NGEx Minerals closed a non‑brokered private placement, raising C$175 million by selling 7 million common shares at C$25.00 each.
• Net proceeds will fund exploration and infrastructure work on the Lunahuasi project (Argentina), support the Los Helados project (Chile), and provide general corporate working capital.
• The closing occurs ahead of a previously announced spin‑out of net smelter return royalties into LunR Royalties Corp., with the newly issued shares eligible to participate in that arrangement.

Key Details

• Placement Size & Pricing: 7,000,000 common shares sold at C$25.00 per share; total gross proceeds C$175 million.
• Finder’s Fee: A 5.0% cash finder's fee was paid on a portion of the placement.
• Use of Proceeds:
• Exploration programs at Lunahuasi (San Juan Province, Argentina).
• Construction of an exploration adit and supporting infrastructure (subject to permitting).
• Application for inclusion under Argentina’s RIGI incentive regime.
• Continued exploration and maintenance of Los Helados project (Region III, Chile).
• General corporate and working‑capital purposes.
• Share Hold Period: Shares issued are subject to a lock‑up expiring on 2026‑02‑16.
• Spin‑out Arrangement (LunR Royalties):
• NGEx will spin out net smelter return royalties from Lunahuasi and Los Helados into wholly‑owned subsidiary LunR Royalties Corp. via a statutory plan of arrangement.
• Each existing NGEx shareholder will receive one new NGEx share plus ¼ of a LunR Royalties share for each pre‑arrangement share held.
• The private placement shares are eligible to participate on the same basis as other outstanding shares.
• Arrangement Timeline: Approved by shareholders (Sept 12, 2025) and court order obtained (Sept 18, 2025); anticipated completion in Q4 2025, effective date pending.
• Administrative Requirements: Registered shareholders must complete a Letter of Transmittal to receive their entitlement under the arrangement; details provided in the management information circular dated Aug 12, 2025.

Notable Quotes

“We are very pleased with the outcome of the recent oversubscribed private placement… The Company is now fully funded and well positioned to execute its planned programs, continue to grow Lunahuasi, and advance the project towards eventual development.” – Wojtek Wodzicki, President & CEO

All forward‑looking statements are subject to risks and uncertainties detailed in the release.