NGEx Drills 1,540m at 1.17% CuEq, Including 88m at 8.65% CuEq in Saturn Zone and 501m at 0.73% CuEq in Expanded Porphyry Deposit

NGEx Minerals announced the final batch of Phase 4 drill results from its 100%-owned Lunahuasi copper-gold-silver project in Argentina on June 23, 2026. The headline hole DPDH064 intersected 1,540 m at 1.17% CuEq from 196 m, including a high-grade Saturn Zone interval of 88 m at 8.65% CuEq and a 501 m porphyry interval at 0.73% CuEq, ending in mineralization. A second hole, DPDH066, cut 394 m at 0.24% CuEq, displaying porphyry-style alteration. Critically, the release confirms the transition from high-sulphidation mineralization into a large porphyry system containing a magmatic-hydrothermal breccia body with potassic alteration and high-grade A‑veins. Grade-capping sensitivity is provided: capping copper at 5% reduces the broad intercept grade from 1.17% to 0.90% CuEq. Phase 4 is now complete with 27,318 m drilled in 32 holes; assays for nine holes remain pending. Phase 5 drilling is anticipated later in 2026.

The latest releases must be read in the context of the entire Phase 4 campaign. Since December 2025, NGEx has repeatedly published extraordinary high‑grade copper‑gold‑silver intercepts at Lunahuasi, including 94 m at 8.99% CuEq (Jan 2026), 335 m at 4.08% CuEq (Mar 2026), and 17.3 m at 207.79 g/t Au (May 2026). The June 23 results are therefore a continuation of a very successful program and do not come as a surprise. However, DPDH064 represents the second hole into the newly recognized porphyry system and is the first to clearly delineate a significant mineralized breccia body with grades that compare favourably to world‑class porphyry breccias. The 501 m at 0.73% CuEq porphyry interval, together with the high-grade Saturn Zone, materially de‑risks the deposit’s scalability and demonstrates that the large, high‑grade HS system is underlain by a robust porphyry system with attractive bulk‑tonnage potential. The market has already priced in much of the Phase 4 excitement (the stock is up roughly 70% from its 2025 lows), so the immediate stock‑price impact may be muted, but the geological implications are material. We therefore rate the news Material – Positive.

NGEx Minerals Ltd. is a Canadian exploration company focused on the Vicuña district in Argentina and Chile. Its flagship asset is the 100%‑owned Lunahuasi copper‑gold‑silver project in San Juan Province, Argentina, a discovery made in March 2023. Lunahuasi hosts an exceptional high‑sulphidation epithermal system with multiple high‑grade zones (Mars, Saturn, Jupiter) and a recently identified underlying porphyry system. The company has completed four seasons of diamond drilling (cumulative >70,000 m) with results among the highest grades globally. NGEx also holds a 69% interest in the large Los Helados porphyry deposit in Chile, where Lundin Mining now owns the remaining 31%.