Mr. Wojtek Wodzicki reports

NGEX RECEIVES ENVIRONMENTAL APPROVAL FOR DEVELOPMENT OF AN EXPLORATION ADIT AT LUNAHUASI

The Mining Authority of San Juan Province, Argentina, has approved the environmental impact statement (DIA) for the development of an exploration adit at NGEx Minerals Ltd.'s 100-per-cent-owned Lunahuasi project, the highest-grade copper-gold-silver deposit in the Vicuna district.

The approval of the DIA represents a major milestone in what has been a swift permitting process and enables NGEx to rapidly advance the Lunahuasi story, enabling underground evaluation and enhancement of the company's geological understanding of this deposit.

Wojtek Wodzicki, president and chief executive officer, commented: "We are very pleased to receive environmental approval for the Lunahuasi exploration adit. This decision by the San Juan Mining Authority supports our strategy of responsibly advancing Lunahuasi and underscores the strong working relationship we have developed with provincial authorities.

"The ability to proceed with underground development is a crucial step that will allow us to directly access high-grade bulk material for metallurgical and engineering studies, provide access for year-round underground drilling, improve geologic definition, and position Lunahuasi for the next stage of advancement. This approval is also an important signal from San Juan and Argentina, reflecting their commitment to responsible mineral development and the economic opportunities that it brings."

Next steps for Lunahuasi

With receipt of the DIA, the company will move forward with required preparatory work for the exploration adit, including detailed engineering, contractor selection, preparation of surface facilities and other on-site readiness activities. Additional sectoral permits will continue to be progressed in co-ordination with provincial and national authorities. NGEx is targeting the fourth quarter of 2026 to start underground development subject to timely receipt of the remaining permits.

Underground access will provide the platform for definition drilling, metallurgical sampling and geotechnical assessment -- key inputs to future technical studies and project evaluation.

As preparations, plans and designs are finalized, the company will obtain all final requisite internal approvals and secure additional insurance coverage for the underground development, as necessary.

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 Los Helados project, subject to a joint exploration agreement with Nippon Caserones Resources LLC, which is the indirect 30-per-cent owner of the operating Caserones open-pit copper mine located approximately 17 kilometres north of Los Helados. Lundin Mining Corp. holds the remaining 70-per-cent stake in Caserones.

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.

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