NGEx drills 335.15 m of 4.08% CuEq at Lunahuasi

Executive Summary

• NGEx Minerals Ltd. released drill results from three holes (DPDH056, DPDH058, and DPDH059) from the Phase 4 program at its 100%-owned Lunahuasi project in Argentina, highlighting significant high-grade copper-gold-silver intersections.
• The company announced an increase in the targeted Phase 4 drilling program from 25,000 meters to 30,000 meters, with approximately 23,000 meters already drilled and the program expected to conclude in the first week of May.
• Key intersections include 335.15m at 4.08% CuEq in hole DPDH059 (including 19.50m at 18.96% CuEq) and 294.10m at 2.41% CuEq in hole DPDH056, demonstrating the size and grade of the Saturn zone and defining new mineralized zones.

Key Details

• Drill Hole DPDH059:
  • Intersected 335.15 metres at 4.08% CuEq from 408.55 m.
  • Included 98.50 m at 6.55% CuEq from 455.50 m.
  • Included 19.50 m at 18.96% CuEq from 471.50 m.
  • Included 14.00 m at 8.52% CuEq from 675.00 m.
  • Included 24.30 m at 8.05% CuEq from 717.40 m.
  • Identified a 1.5 m sample with 133.50 g/t gold within the zone.
• Drill Hole DPDH056:
  • Intersected 294.10 metres at 2.41% CuEq from 433.00 m.
  • Included 58.00 m at 4.86% CuEq from 546.20 m.
  • Included 8.05 m at 17.82% CuEq from 552.50 m.
  • Included 9.25 m at 7.57% CuEq from 676.450 m.
  • Hole extended to final depth of 877.40 m, intersecting disseminated and stockwork mineralization west of Saturn.
• Drill Hole DPDH058:
  • Intersected 109.00 m at 3.37% CuEq from 365.00 m.
  • Included 6.00 m at 14.53% CuEq from 446.00 m.
  • Included 5.70 m at 12.57% CuEq from 461.00 m.
  • Defined a new mineralized zone at the northern edge of the drill pattern, extending a zone first intersected by DPDH043 (46.8 m at 9.55% CuEq) 80 m to the south.
• Phase 4 Program Update:
  • Almost 23,000 m drilled to date with 21 holes completed and 8 under way.
  • Targeted metres increased from 25,000 m to 30,000 m.
  • Program expected to conclude around the first week of May.
  • Targeting has shifted to larger stepouts, including two in-progress holes investigating a porphyry system intersected in DPDH027.
• Technical Notes:
  • Qualified Person: Bob Carmichael, BASc, PEng, Vice-President, Exploration.
  • Samples analyzed at ALS laboratories in Mendoza, Argentina, and Lima, Peru.
  • Quality control includes 10% of submitted samples as standards, blanks, and duplicates.

Notable Quotes

• "Today's news release includes holes 56 and 59, drilled in different directions through the Saturn zone, and hole 58 which is helping to define a new zone at the northern limit of the current drill pattern... Together they demonstrate the significant size and grade of Saturn, which is our largest defined zone to date, as well as the continued upside potential we have to discover and delineate new zones..." — Wojtek Wodzicki, President and CEO.
• "As was the case last year, drilling performance has exceeded expectations and, with almost 23,000 m drilled to date and ample time left in our field season, we are increasing our target for the current program to 30,000 m." — Wojtek Wodzicki, President and CEO.