NGEx Minerals Reminds Shareholders to Vote at Special Meeting for the Proposed Spin-Out of Valle Ancho Project to be Held on October 29, 2026
NGEx’s spin-out vote advances the Valle Ancho separation, unlocking value for shareholders through the strategic divestment of the asset.
NGEx Minerals Ltd. (NGEX) has reminded shareholders to vote on October 29, 2026, regarding the statutory plan of arrangement to spin out the Valle Ancho Project into a new entity, Valiente Resources Inc. Under the proposed structure, shareholders will receive one new NGEx share and one-fifth (1/5) of a Valiente share for each NGEx share held. The Board unanimously recommends voting FOR the Arrangement, citing the creation of two focused companies with distinct strategies and enhanced value recognition.
Conditions precedent to the transaction include shareholder approval by a 66 2/3% threshold, court approval, and conditional TSX-V listing approval for Valiente. The Management Information Circular was refilled on October 8, 2026, to remove an inadvertently included interim review report by PwC; no other changes were made to the Circular. There is no ex-dividend date or record date for trading purposes.
NGEx Minerals Ltd. (NGEX) issued a procedural follow-up to its August 6, 2026 announcement regarding the Valle Ancho spin-out. The market has already priced in the transaction structure, the 1/5 exchange ratio, and the Q4 2026 closing timeline. The reminder serves to ensure quorum and timely voting but introduces no new strategic, financial, or operational information. An administrative correction to the circular is minor and does not alter the transaction economics or timeline.
NGEx Minerals Ltd. (NGEX) owns the Lunahuasi Project, a high-grade copper-gold-silver deposit located in San Juan, Argentina. The asset features multiple mineralization styles, including high-sulphidation zones at Saturn, Mars, and Jupiter, a newly discovered porphyry system, and ultra-high-grade gold quartz veins.
Phase 4 drilling at Lunahuasi was completed with 27,318 metres across 32 holes. This work significantly expanded the Saturn and Jupiter zones and confirmed the presence of the porphyry system.
The company also holds interests in other assets, including the Los Helados Project in Chile, where it holds approximately 69.1% with Lundin Mining as a minority partner, and the Valle Ancho Project, a district-scale copper-gold exploration area in Argentina and Chile slated for spin-out. Regarding development status, an Environmental Impact Statement for an exploration adit at Lunahuasi has been approved, with underground development targeted for Q4 2026.