NGEx Reports Second Quarter 2015 Results - Seite 2

LOS HELADOS PROJECT, CHILE

On October 20, 2014, the Company announced the results of a Preliminary Economic Assessment (the "PEA") completed on the Los Helados Project, together with an updated Mineral Resource Estimate. The proposed project concept is to develop an underground mine using block cave mining methods, followed by (Semi-Autogenous Grinding) SAG milling and conventional sulphide flotation producing a high grade copper concentrate with low levels of impurities.

For more detailed information on the PEA and the Resource Estimate refer to the National Instrument 43-101 Technical Report titled "Los Helados Cu-Au Deposit, Atacama Region III, Chile, NI43-101 Technical Report on Preliminary Economic Assessment" dated October 1, 2014 which can be found on SEDAR (www.sedar.com) and on the Company's website (www.ngexresources.com). The PEA was prepared by AMEC International Ingeniería y Construcción Limitada ("AMEC") of Santiago, Chile, under the direction of Anthony George, Project Manager (NGEx Resources).

Field work resumed in the first quarter of 2015 with a total of 2,210 metres drilled. Three holes were completed during the quarter. Drilling was focused on converting a portion of the Indicated Resource to Measured as well as geotechnical drilling in the volume of the conceptual block cave. Baseline environmental programs, including a review of areas for potential infrastructure are ongoing. Field and desktop work in support of the environmental studies were carried out during the current quarter. In April the Company began a scoping level study to evaluate the potential for a combined Los Helados-Josemaria operation. The study is expected to be complete in the first quarter of 2016.

JOSEMARIA PROJECT, ARGENTINA

Josemaria is a large copper/gold porphyry project located in San Juan Province, Argentina. The Josemaria deposit is located 11 kilometres southeast of Los Helados. The project is being explored under a Joint Exploration Agreement with Japan Oil, Gas and Metals National Corporation ("JOGMEC") in which the Company holds a 60% interest and JOGMEC holds a 40% interest. Each party funds its pro-rata share of expenditures.

Engineering Studies

Metallurgical test work and baseline environmental programs continued during the second quarter of 2015. Field work in support of the environmental program was carried out during the second quarter. In April the Company began a scoping level study to evaluate the potential for a combined Los Helados-Josemaria operation. The study is expected to be complete in the first quarter of 2016.