NGEx Minerals (NGEX) investor relations material

Strategic vision and future plans

• Focus on advancing Luna Wasi/Lunahuasi as a standalone high-grade copper-gold development, with comprehensive exploration, resource definition, and eventual production plans, including underground access for efficient drilling.

• The company aims to leverage its 19.9% stake in Lunar/LunR Royalties and potential monetization of Los Helados as future funding sources for project development.

• Application for Argentina’s RIGI investment incentive is underway, with a July 2026 deadline, to secure fiscal benefits for project development.

• M&A is not a core strategy but remains an option if compelling proposals arise; focus is on organic growth and value creation.

• Emphasis on scale, clustering of deposits, and high grades as key characteristics of world-class metal districts.

District and portfolio outlook

• The Vicuña District hosts five major deposits, including the high-grade Luna Wasi/Lunahuasi discovery, with ongoing development and exploration across multiple assets.

• The company controls all ground between Luna Wasi and Los Helados, with no property boundary constraints on expansion.

• Additional projects, such as Via Ancha, remain in the portfolio for future exploration, though current focus is on Luna Wasi.

• The team emphasizes a lean, entrepreneurial approach, maintaining a small, experienced group to drive discovery and value.

• Long-term vision is to replicate the Lundin Gold model of building a high-value operation from a major discovery.

Exploration and resource development

• Luna Wasi/Lunahuasi is characterized by multiple overlapping high-grade mineralization styles, with ongoing and upcoming drilling targeting expansion and resource definition in Mars, Saturn, and Jupiter zones.

• Over 43,000m drilled in three phases, with a 25,000m Phase 4 program (8 rigs) set for October 2025, focusing on resource definition, step-out, and exploration drilling.

• The deposit remains open in all directions, with significant upside potential and a kilometer-scale mineralized system; new drilling will test untested volumes and analogs to world-class deposits.

• Resource estimation will be staged, starting with high-grade zones and potentially expanding to bulk mining scenarios, reflecting the deposit’s complexity and optionality.

• MT geophysical results suggest potential for a much larger mineralized system.