NGEx Minerals (NGEX) Investor Day 2026 summary

Strategic and Operational Highlights

• Lunahuasi's mineralized footprint expanded and geological understanding improved following a successful phase IV drill program; phase V will use 8 rigs for 25,000m of drilling focused on resource definition and exploration.

• Underground exploration adit at Lunahuasi is permitted and set to begin, enabling year-round, efficient drilling, bulk sampling, and geotechnical studies with minimal surface impact.

• Los Helados gains strategic importance with Lundin Mining as a 31% minority partner, providing multiple development pathways and potential future cash flow.

• Spin-out of Valiente Resources announced, with Valle Ancho as its foundational project, aiming to unlock value from assets not prioritized within the main portfolio.

• Raised $175M through a private placement, enabling significant exploration and development activities.

Exploration and Technical Developments

• Lunahuasi hosts multiple mineralization styles, including high-grade gold, massive sulfide veins, porphyry copper-gold, and high-sulphidation veins, all open for further expansion.

• Exceptional drill results at Lunahuasi include intersections such as 60m @ 7.52% CuEq and 110.1m @ 8.82% CuEq.

• Metallurgical test work demonstrates high recoveries and multiple processing options, with GlassLock technology showing the best initial results for arsenic removal and supporting marketable concentrate production.

• Exploration continues to identify new zones and targets, with ongoing drilling aimed at both resource definition and system-scale step-outs.

• Resource estimate timing remains flexible, prioritizing comprehensive data collection before publication.

Portfolio Management and Future Outlook

• Portfolio strategy includes maintaining optionality for Lunahuasi development, considering both standalone and M&A scenarios.

• Retained stake in LunR Royalties creates a virtuous circle, increasing in value as core projects advance toward production.

• Valiente spin-out will focus on copper, gold, and silver exploration in Argentina and Chile, leveraging experienced teams and Lundin Group backing.

• Macro trends, including strong metal prices and global electrification, are expected to drive future revaluation of assets.

• Ongoing efforts to maximize shareholder value through creative portfolio management, spin-outs, and strategic partnerships.