NGEx Minerals adds Lundin Mining as Los Helados partner

Mr. Wojtek Wodzicki reports NGEX WELCOMES LUNDIN MINING AS NEW PARTNER AT LOS HELADOS NGEx Minerals Ltd. has welcomed Lundin Mining as its new minority partner in the Los Helados project, located in Chile's Region III, subject to the closing of its recently announced transaction with JX Advanced Metals Corp. and affiliates, whereby Lundin Mining will acquire JX's 30.9-per-cent interest in the Los Helados joint exploration agreement. The transaction is subject to closing conditions as disclosed in Lundin Mining's news release dated March 9, 2026. Wojtek Wodzicki, president and chief executive officer, commented: "We are pleased to have Lundin Mining as our new minority partner at Los Helados and feel that this partnership has the potential to open up new options to move the Los Helados project forward towards eventual development. The Los Helados resource and its copper, gold and silver grades are higher than what is currently being mined at Caserones and the proximity of the operating infrastructure at Caserones provides potential synergies and development options to feed mineralization from Los Helados through the mill at Caserones. We look forward to working with Lundin Mining to develop these ideas and advance the Los Helados project." Los Helados is one of the largest undeveloped copper-gold resources in the world. The deposit is located approximately 17 kilometres from Lundin Mining's Caserones project and 10 kilometres from Vicuna Corp.'s Josemaria project, which is under development in San Juan province, Argentina. Lundin Mining and BHP each hold a 50-per-cent interest in Vicuna. Metallurgical test work indicates that Los Helados would produce a high-quality precious metal-rich copper concentrate. The combination of a large, high-quality resource in proximity to mining infrastructure owned by NGEx Minerals' partner positions Los Helados as one of the best advanced-stage copper development opportunities globally. Lundin Mining is acquiring Nippon Caserones LLC's 30.9-per-cent interest in the joint exploration agreement (JEA) that governs the Los Helados project. NGEx is the majority partner and operator of the JEA and holds the casting vote on all decisions related to the JEA. The current mineral resource estimate for the Los Helados project, effective as of July 29, 2025, is as follows. Qualified persons and technical notes The scientific and technical disclosure included in this news release has been reviewed and approved by Bob Carmichael, BASc, PEng, who is the qualified person as defined by National Instrument 43-101. Mr. Carmichael is vice-president, exploration, for the company. About NGEx Minerals Ltd. NGEx Minerals is a copper and gold exploration company based in Canada, focused on exploration of the Lunahuasi copper-gold-silver project in San Juan province, Argentina, and the nearby Los Helados copper-gold project, located approximately nine kilometres to the northeast in Chile's Region III. Both projects are located within the Vicuna district, which includes the Caserones mine and the Josemaria and Filo del Sol deposits. NGEx owns 100 per cent of Lunahuasi and is the majority partner and operator for the Los Helados project. The company's common shares are listed on the Toronto Stock Exchange under the symbol NGEX and also trade on the OTCQX under the symbol NGXXF. NGEx is part of the Lundin Group of Companies. We seek Safe Harbor.