NGEx Minerals (NGEX) Investor Day 2025 summary

Strategic vision and district overview

• Focus on advancing Lunahuasi as a standalone high-grade copper-gold development, leveraging a proven exploration track record and entrepreneurial approach in the Vicuna District.

• The Vicuna District hosts five major deposits, including Lunahuasi, with ongoing development and exploration across multiple assets.

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

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

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

Exploration and resource development

• Lunahuasi exhibits four overlapping, unusually high-grade mineralization styles, making it a globally unique deposit with significant upside.

• Over 43,000m drilled in three phases, with predictive discovery methods targeting new zones and extensions; deposit remains open in all directions.

• Resource definition will be staged, starting with high-grade zones and potentially expanding to bulk mining scenarios; both underground and surface drilling are planned.

• Geological modeling and advanced structural analysis have enabled targeted drilling and resource definition, with three main high-grade zones (Mars, Jupiter, Saturn) aligning with mapped surface structures.

• The team is preparing for an underground adit to improve drilling efficiency and resource definition.

Phase 4 drill program and future plans

• Phase 4 drill program (25,000m, 8 rigs) to start October 2025, focusing on resource definition, step-out, and exploration drilling.

• Objectives include defining and expanding main zones, extending mineralized intersections, and testing new targets based on district-scale modeling.

• Resource definition drilling will build toward an initial resource estimate, a key step for future production planning.

• Long-range exploration aims to discover missing parts of the system and establish the full extent of porphyry mineralization.

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