NGEx Receives Court Approval for the Spin-Out of Valle Ancho Project; Announces Proposed Effective Date of Spin-Out and Conditional Approval for the Listing of the Valiente Shares on the TSXV

NGEx Minerals Ltd. (NGEX) received final court approval from the Supreme Court of British Columbia for the spin-out of its Valle Ancho Project into a new subsidiary, Valiente Resources Inc. The transaction is structured as a statutory plan of arrangement with an effective date of November 12, 2026. This development follows shareholder approval on October 29, 2026, and the initial announcement on August 6, 2026.

Valiente Resources has received conditional TSX Venture Exchange approval for listing under the ticker "VALX". Under the terms of the arrangement, shareholders will receive one new NGEx share and 0.2 Valiente shares for each NGEx share held, with no change in proportional ownership. Stock options will be exchanged for adjusted NGEx and Valiente options.

NGEx Minerals Ltd. (NGEX) has secured court approval for a corporate restructuring, a procedural milestone that removes the final regulatory hurdle for the previously announced and shareholder-approved plan. The spin-out separates the district-scale Valle Ancho project in Argentina and Chile from NGEx’s more advanced Lunahuasi and Los Helados projects.

This restructuring creates two focused entities, allowing NGEx to concentrate on advancing Lunahuasi, which is currently in Phase 5 drilling and adit development, and Los Helados, where it is working with Lundin Mining as a partner. Meanwhile, the newly formed Valiente entity will focus on early-stage exploration. The market had already priced in the spin-out structure and exchange ratio, with the news confirming execution without introducing new financial terms or strategic pivots.

NGEx Minerals Ltd. (NGEX) is a Canadian mining company focused on copper, gold, and silver exploration in South America. Its flagship asset is the 100%-owned Lunahuasi project in San Juan, Argentina, a high-grade copper-gold-silver system featuring multiple zones including Saturn, Mars, and Jupiter, alongside a porphyry component. The company has completed Phase 4 drilling, totaling 27,318 meters, which revealed exceptional grades up to 37.38% CuEq and ultra-high-grade gold veins.

The company also holds a 69.1% interest in the Los Helados project in Chile, in partnership with Lundin Mining, and maintains a 100% interest in the Valle Ancho project spanning Argentina and Chile, which is currently being spun out to Valiente Resources. NGEx is advancing Phase 5 drilling at Lunahuasi and is planning an underground exploration adit.