NGEx Reports Second Quarter 2015 Results

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 7, 2015) - NGEx Resources Inc. ("NGEx" or the "Company") (TSX:NGQ)(NASDAQ OMX:NGQ) is pleased to announce its operating and financial results for the three and six months ended June 30, 2015 and to provide an update on results of work on its projects to date.

HIGHLIGHTS AND SIGNIFICANT EVENTS

• The Company's main focus during the second quarter was the ongoing engineering, geotechnical, and baseline environmental studies at the Los Helados and Josemaria copper-gold deposits located in Chile and Argentina, respectively.
  
  
  • At Los Helados the work focused on opportunities to improve project returns through a revised mine plan that brings production of higher grade material forward, potentially reduces ramp up times, and potentially extends the life of mine by using a declining cut-off grade. A second phase of metallurgical test work including 30 variability samples, assessed opportunities to improve recoveries. Samples collected from geotechnical holes completed earlier this year are currently being analyzed and will provide information on fragmentation, refining preconditioning requirements and reducing mining risks.
    
    
  • At Josemaria the Company completed a second phase of metallurgical test work which is now being used to update the Mineral Resource block model. The updated block model will be used to develop a mine plan.
    
    
  • The updated information from Los Helados and Josemaria is planned to be incorporated into a Preliminary Economic Assessment of a potential integrated Los Helados-Josemaria operation. This study began in April 2015 and is expected to be complete by the first quarter of 2016.
    
    
  • Baseline environmental studies continued at both Los Helados and Josemaria.
    
    
• On April 10, 2015, the Company completed the sale of its 60% interest in the Assean Lake claims in Manitoba to VMS Ventures Inc. ("VMS") for a cash payment of $15,000 and an initial tranche 600,000 common shares of VMS. An additional 1,200,000 shares are receivable upon achievement of project milestones.
  
  
• On April 16, 2015 the Company announced the results from the remaining fourteen holes drilled at the Filo del Sol Project. Highlights included 42 metres of 1.13 g/t gold and 145.6 g/t silver. The drill holes completed this year continue to extend the high-grade silver resource announced on December 2, 2014 and confirm that this resource is part of a much larger mineralized system.