NGEx Provides Update on Exploration Program at Nacimientos Project, Argentina

VANCOUVER, British Columbia, April 23, 2018 (GLOBE NEWSWIRE) -- NGEx Resources Inc. (TSX:NGQ) (Nasdaq Stockholm:NGQ) (“NGEx” or the “Company”) is pleased to report that it has started a three to four hole scout drilling program at its new Nacimientos copper/gold project located in San Juan Province, Argentina.  This first pass program is designed to test some of the ideas and targets generated earlier this season before the onset of the southern hemisphere winter.  Drill results are expected to be received in the second quarter, 2018.  A more extensive drill program is planned for the fourth quarter this year.

Commenting on the Nacimientos project NGEx’s CEO, Wojtek Wodzicki stated, “Nacimientos is a good example of the type of project that the Lundin Group has sought since its early days in Argentina.  From Bajo de la Alumbrera and Veladero through the discovery of the Josemaría and Filo del Sol projects – the goal has been finding district scale copper/gold systems with multiple targets.  As we complete the field programs and continue engineering studies on the more advanced Los Helados and Josemaría projects, we have been able to free up our exploration team to look for the next growth opportunity for the company.  For NGEx, this type of project represents a return to our roots as one of the most successful greenfields exploration teams in South America. Years of underinvestment in basic exploration by the mining industry means that the project pipeline for the gold and copper sector is very limited and we are confident that a high quality portfolio of projects put together at low cost has the potential to create significant value for our shareholders.  It is early days at Nacimientos but we are confident that it represents the first step in the next chapter of success for NGEx.”

The Nacimientos Project is a district-scale land package that extends over approximately 15,000 hectares and covers at least six distinct porphyry copper-gold and epithermal gold targets (see Figure 1). The project area is located approximately 80 kilometres south of the Veladero Mine and is within a possible extension of the El Indio-Veladero gold belt that hosts past production and current resources of more than 50 million ounces of gold.  The Company is targeting large scale alteration features and associated mineralization with the potential to host a significant sized copper/gold or gold/silver deposit.  The project has potential for both high sulfidation gold mineralization at higher elevations (Targets 1, 4, and 5) and porphyry copper/gold mineralization (Targets 2,3, and 6) at lower elevations.  Project logistics are excellent as the site can be accessed by approximately an hour’s drive on dirt roads from a paved highway.