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NGEXminerals.com TSX: NGEX OTCQX: NGXXF NO GUTS, NO GLORY February 2026 ADVANCING THE NEXT COPPER-GOLD GIANT High-Grade, High-Impact, Strategically Positioned
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NGExminerals.com TSX:NGEX 1 Cautionary Statement Certain statements made and information contained herein in the presentation constitutes “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation (collectively, “forward-looking information”). The forward-looking information contained in this presentation is based on information available to the company as of the date of this presentation. Except as required under applicable securities legislation, the company does not intend, and does not assume any obligation, to update this forward- looking information. Generally, this forward-looking information can frequently, but not always, be identified by use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", “targets”, "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events, conditions or results “will”, "may", "could", “should”, "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotations thereof. All statements other than statements of historical fact may be forward-looking statements. By their nature, forward-looking statements involve assumptions, inherent risks and uncertainties, many of which are difficult to predict, and are usually beyond the control of management, that could cause actual results to be materially different from those expressed by these forward-looking. NGEX Minerals believes that the expectations reflected in these forward-looking statements are reasonable as of the date made, but no assurance can be given that these expectations will prove to be correct. In particular, forward-looking statements contained in this presentation include all statements regarding, 2026 Objectives, potential exploration upside at Lunahuasi, Predictive Discovery, RIGI Application, permitting and constructing an adit, timing, goals and objectives for Phase 4 drill program at Lunahuasi, ability to: complete planned program; achieve timelines set out in Royalty section, generate future shareholder returns; realize optionality and synergies in District,. Information concerning mineral resource estimates are also forward-looking statements in that they reflect a prediction of the mineralization that would be encountered, and the results of mining, if a mineral deposit were developed and mined, the nature, scope and timing of the work to be undertaken to advance the Companies projects. While the Company anticipates continuing its drill program until May, it may encounter unexpected drilling and other challenges, costs, or delays that could prevent the Company from completing the program on the expected timeline or at all. Any drilling next season is dependent on pending results from this year’s program. This program could be delayed or not be carried out at all. Although NGEX Minerals believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since NGEX Minerals can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in NGEX Minerals periodic filings with Canadian securities regulators, available under the Company’s SEDAR+ profile at www.sedarplus.ca. These factors are not, and should not be construed as being, exhaustive. Although the company has attempted to identify important factors that would cause actual results to differ materially from those contained in forward- looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. All of the forward-looking information contained in this document is qualified by these cautionary statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof. Estimates of Mineral Reserves and Mineral Resources Information regarding reserve and resource estimates has been prepared in accordance with Canadian standards under applicable Canadian securities laws and may not be comparable to similar information for United States companies. The terms “Mineral Resource”, “Measured Mineral Resource”, “Indicated Mineral Resource” and “Inferred Mineral Resource” used in this presentation are Canadian mining terms as defined in accordance with NI 43-101 under guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Standards on Mineral Resources and Mineral Reserves adopted by the CIM Council on May 10, 2014. While the terms “Mineral Resource”, “Measured Mineral Resource”, “Indicated Mineral Resource” and “Inferred Mineral Resource” are recognized and required by Canadian regulations, they are not defined terms under standards of the United States Securities and Exchange Commission. Under United States standards, mineralization may not be classified as a “reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve calculation is made. As such, certain information contained in this presentation concerning descriptions of mineralization and resources under Canadian standards is not comparable to similar information made public by United States companies subject to the reporting and disclosure requirements of the United States Securities and Exchange Commission. An “Inferred Mineral Resource” has a great amount of uncertainty as to its existence and as to its economic and legal feasibility. It cannot be assumed that all or any part of an “Inferred Mineral Resource” will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or other economic studies. Readers are cautioned not to assume that all or any part of Measured or Indicated Resources will ever be converted into Mineral Reserves. Readers are also cautioned not to assume that all or any part of an “Inferred Mineral Resource” exists or is economically or legally mineable. In addition, the definitions of “Proven Mineral Reserves” and “Probable Mineral Reserves” under CIM standards differ in certain respects from the standards of the United States Securities and Exchange Commission. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Qualified Persons The disclosure of scientific and technical information regarding the Company’s properties in this presentation was prepared by or reviewed Bob Carmichael, B.A.Sc., P.Eng., who is the Qualified Person as defined by NI 43- 101. Mr. Carmichael is Vice President, Exploration for the Company. Technical Reports For details on data verification, sample, analytical and testing results and further details regarding methods used to estimate mineral reserves in respect of the Los Helados project, refer to the technical report titled “Technical Report on the Los Helados Project, Chile and Argentina” dated August 22, 2025 (effective date July 29, 2025), which incorporates the mineral resources statement for Los Helados. For the Lunahuasi project refer to the “Technical Report on the Lunahuasi Project, Argentina dated August 22, 2025 (effective date August 8, 2025). Both reports are available on the Company’s website and SEDAR+. Copper Equivalent Calculations Copper equivalent for Lunahuasi drill intersections is calculated based on US$3.00/lb Cu, US$1,500/oz Au and US$18/oz Ag, with 80% metallurgical recoveries assumed for all metals. The formula is: CuEq % = Cu % + (0.7292 * Au g/t) + (0.0088 * Ag g/t). For Los Helados copper equivalent (“CuEq”) formula see Los Helados Resource Statement
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NGExminerals.com TSX:NGEX NGEx is the last piece of the Vicuña puzzle Strongly positioned to create shareholder value in one of the most prospective copper-gold districts in the world 2 Entry of Major into district gives credibility Lunahuasi Phase 4 drilling underway - building a pathway to stand-alone production Los Helados underpins value and provides optionality Developing gold story presents an undervalued opportunity
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NGExminerals.com TSX:NGEX 3 Exploration & development at Lunahuasi Moving forward Los Helados Active IR Program Complete 25,000m Phase 4 drill program Consider options to monetize Los Helados Increase analyst coverage, market awareness, and liquidity Marketing aimed at institutions and retail, targeting new investors and jurisdictions Objectives Receive permits and begin development of exploration adit 2026 to drive further upside at NGEx Phase 4 drilling at Lunahuasi and IR initiatives aimed to drive shareholder return 2026 Objectives Submit application for RIGI
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NGExminerals.com TSX:NGEX 4 (1) See copper equivalent (“CuEq”) formula on page 1 (2) Indicated resource category; see Los Helados Resource Table in Appendix for more details and technical notes 18.4 BILLION POUNDS2 Contained Copper 10.2 MILLION OUNCES2 Contained Gold LUNAHUASI LOS HELADOS NEW HIGH-GRADE DISCOVERY ONE OF THE LARGEST COPPER PROJECTS GLOBALLY 205m @ 5.1% CuEq1 January 2025 Drill Hole 97.5 MILLION OUNCES2 Contained Silver 94m @ 9.0% CuEq1 January 2026 Drill Hole 60m @ 7.5% CuEq1 2023 Discovery Hole SAN JUAN ARGENTINA REGION III CHILE NGEx owns two world-class assets Lunahuasi and Los Helados located in the rapidly advancing Vicuña District 1,619m @ 0.9% CuEq1 May 2025 Drill Hole
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NGExminerals.com TSX:NGEX LUNAHUASI New Major High-Grade Discovery 8 km LOS HELADOS Large Resource + Exploration NGEx FILO DEL SOL PFS + exploration CASERONES operating mine Lundin Mining BHP JX Nippon 5 MARICUNGA BELT CHILE ARGENTINA Candelaria Mine (Lundin Mining) ~155 km Caldera Port & Desalination Plant (Lundin Mining) EL INDIO BELT VICUÑA Copiapó Relincho El Indio Alturas Tambo Veladero Pascua-Lama El Morro Filo del Sol (BHP/Lundin Mining) Josemaria (BHP/Lundin Mining) Cerro Casale Caserones (Lundin Mining/JX NMM) Caspiche Maricunga Pantanillo La Pepa Lobo Marte Los Helados Lunahuasi Vallenar La Serena Mines/Deposits Populated Towns JOSEMARIA feasibility study The last way to attain exploration leverage in the Vicuña district NGEx Asset
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NGExminerals.com TSX:NGEX 6Note: See full drill results on corporate website Hole 14: 9.4m at 40.12% CuEq (27.68% Cu, 14.13 g/t Au, 242.4 g/t Ag) Hole 28: 51.1m at 13.84% CuEq (5.98% Cu, 9.70 g/t Au, 90.4 g/t Ag) Hole 32: 27.4m at 25.19% CuEq (7.80% Cu, 23.17 g/t Au, 55.9 g/t Ag) Hole 54: 21.7m at 31.92% CuEq (12.70% Cu, 25.21 g/t Au, 95.5 g/t Ag) Hole 21: 772.5m at 1.60% CuEq (1.02% Cu, 0.64 g/t Au, 14.2 g/t Ag) Hole 22: 726.5m at 1.66% CuEq (0.89% Cu, 0.88 g/t Au, 14.5 g/t Ag) Hole 27: 1,619.4m at 0.87% CuEq (0.52% Cu, 0.32 g/t Au, 13.2 g/t Ag) Hole 29: 823.1m at 1.17% CuEq (0.84% Cu, 0.29 g/t Au, 12.8 g/t Ag) GRADE SCALE GOLD+ + Cu-Au-Ag high-sulphidation veins Cu-Au porphyry with high-sulphidation overprint Ultra high-grade Au in quartz veins Hole 22: 38.9m at 10.04 g/t Au (2.92% Cu, 10.04 g/t Au, 67.7 g/t Ag) Hole 35: 51.5m at 10.42 g/t Au (4.37% Cu, 10.42 g/t Au, 32.6 g/t Ag) Hole 46: 104.8m at 14.74 g/t Au (2.97% Cu, 14.74 g/t Au, 65.0 g/t Ag) Including, Hole 46: 61.9m at 23.81 g/t Au (1.91% Cu, 61.72 g/t Au, 20.0 g/t Ag) Lunahausi is unique in the Vicuña District Lunahuasi has multiple overprinting styles of mineralization
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NGExminerals.com TSX:NGEX LunahuasiFilo del Sol Josemaria Los Helados Caserones 7 Part of a well-understood geological model Deposit lies along same structural corridor as Filo del Sol and Los Helados
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NGExminerals.com TSX:NGEX 8 Phase 3 program made a number of significant discoveries Deposit open in all directions 1,200m 1,200m 4 distinct styles of mineralization Deposit open in ALL directions Most holes ended in mineralization Successful step out holes tripled size of the mineralized volume N 200m Mineralized volume to date: 1.2km East-West 1.2km North-South 1km Vertical x x • Cu-Au-Ag high-sulphidation veins • Cu-Au high-sulphidation stockwork and disseminated • Cu-Au porphyry • Ultra high-grade gold in quartz veins 10km to Los Helados
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NGExminerals.com TSX:NGEX 9 Porphyry system recently discovered High-grade Lunahuasi mineralization part of a much larger porphyry related system Note: For more details see news release dated May 21, 2025
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NGExminerals.com TSX:NGEX 10 Also discovered high-grade gold veins Bonanza grade gold mineralization is a well-known component of many high-sulphidation epithermal deposits Bonanza Au key results Hole ID From (m) To (m) Length (m) Est. True Width (m) Au g/t Au g/t (cut to 90 g/t) DPDH028 504.1 515.4 11.3 8.4 29.87 26.55 DPDH032 476.5 485.1 8.6 5.6 69.82 53.83 DPDH035 224.7 246.2 21.5 9.7 23.81 23.81 DPDH046 517.5 529.0 11.5 7.5 80.38 24.58 DPDH048 508.9 518.0 9.1 6.4 26.99 25.78 DPDH051 561.7 566.0 4.3 1.3 62.11 25.88 DPDH054 284.1 305.8 21.7 16.0 25.21 25.21 0.90m @ 25.00% Cu, 290.00 g/t Au, 1,090.0 g/t Ag 1.55m @ 4.84% Cu, 504.00 g/t Au, 90.00 g/t Ag
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NGExminerals.com TSX:NGEX 11 o Improve understanding/confidence of three main zones o Building towards an initial resource estimate o Key component of any future production plan Exploration results will continue to drive value in the near term Phase 4 plan underway at Lunahuasi and involves 25,000m of drilling using 8 rigs Consists of three targeted ranges of drill spacing: These types of systems usually get bigger 500m o Looking to extend/discover new zones o Continue to improve interpretation and expand the deposit o Confirm presence of multiple zones o To test anomalies and district scale modeling to discover new components of the Lunahuasi system and demonstrate its true potential Closer spaced: define and expand the Mars, Saturn and Jupiter zones Step-out: extending open mineralized intersections Exploration: aimed at discovering new components to the system Note: For more details see news release dated September 25, 2025
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NGExminerals.com TSX:NGEX 12 Recent MT results suggest a much bigger prize 500m Exploration drilling aims to demonstrate the true potential of Lunahuasi
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NGExminerals.com TSX:NGEX 13 Phase 4 will continue testing high potential areas of opportunity Phase 4 will begin to test the wedge Wedge above drilling to date a huge opportunity “Wedge” is ~ 1500m x 1500m x 1000m Horizontal drill holes currently being drilled to test the wedge 500m Example of horizontal drill holes
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NGExminerals.com TSX:NGEX 14 Fast tracking Lunahuasi towards development Maximizing value generation by minimizing the timeline to production RIGI applicationExploration adit Selected key RIGI benefits General Regime (without RIGI) With RIGI Benefits Income Tax Rate 35% 25% VAT Tax Credit Long period for VAT credit during the construction phase. An estimated 16% of CAPEX Granting of Tax Credit Certificate for VAT payment to VAT suppliers and VAT imports Import Duties Greater than 10%, subject to asset classification 0% Access to the Foreign Exchange Market Prior Authorizations of BCRA No restrictions or prior authorizations Dispute Resolution Mechanism Argentine courts of general jurisdiction Various options and jurisdictions would granted for dispute resolution (including international jurisdiction) Note: See slides 26-27 for a full breakdown of all RIGI benefits RIGI confers significant financial, economic and legal benefits to large capital projects Exploration adit will expedite the collection of essential technical information facilitating a path to production
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NGExminerals.com TSX:NGEX 15 Los Helados and LunR are valuable assets than could be monetized A potential and viable source of future funding for Lunahuasi stand-alone development LunR Royalties (19.9% equity interest)Los Helados (~69% NGEx/~31% JX Nippon) o The only undeveloped copper project in Latin American not owned by a major with existing operating infrastructure nearby o 18.4 Blbs Cu, 10.2 Moz Au and 97.5 Moz Ag Indicated Resource; 8.3 Blbs Cu, 3.6 Moz Au and 50.2 Moz Ag Inferred Resource o Owns a 1% NSR royalty on Lunahuasi and 2% NSR royalty on Los Helados o Adam Lundin, President & CEO, tasked with driving growth and portfolio diversification Note: For more details about LunR Royalties see https://www.lunrroyalties.com
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NGExminerals.com TSX:NGEX 16 NGEx has generated significant value for shareholders… Lunahuasi is the next chapter in the ongoing story Note: Canadian dollars; Market capitalization as of January 8, 2026 3 early stage exploration projects in the (future) Vicuna District 2016 2019 Market Cap ~$40million Lunahuasi Los Helados Valle Ancho Track record of value creation through the drill bit Share price has outperformed copper 2024 2025 Copper 2025 Market Cap ~$12billion 2023
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NGExminerals.com TSX:NGEX 17 … and there is further unrealized value to be unlocked Expand Lunahuasi - Phase 4 drilling underway Permit and construct exploration adit Stay flexible, focus on value creation Advance stand-alone development of Lunahuasi LEVERAGE TO COPPER, GOLD & SILVER PRICES WITHOUT OPERATING RISK Consider options to monetize Los Helados and LunR Royalties stakes when appropriate Develop comprehensive plan to explore, finance, and eventually build a new high-grade copper-gold-silver mine Apply for RIGI M&A, future spinouts, etc. are alternate options
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Company Head Office NGEx Minerals Ltd. Suite 2800 – 1055 Dunsmuir Street Vancouver, BC Canada V7X 1L2 @NGEx_minerals | NGExminerals.com | TSX: NGEX NO GUTS, NO GLORY Contact Finlay Heppenstall VP, Corp Dev & IR Telephone: (778) 386-4688 Email: finlayh@ngexminerals.com
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TSX: LUN NASDAQ STOCKHOLM: LUMI 19 Appendix
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NGExminerals.com TSX:NGEX 20 Experienced Exploration-Focused Leadership with Significant Insider Ownership (1) Pre-Private Placement (2) Weighted average price of C$3.455 (3) Includes short term investments Dr. Wojtek Wodzicki President, CEO & Director • CEO of NGEx since inception in 2009 • Holds a doctorate in Geosciences & has 30+ years of experience in mineral exploration • Led discovery teams for multiple discoveries in the Vicuña district including Los Helados, Filo del Sol, and Josemaria Bob Carmichael VP Exploration • Professional geological engineer with over 30 years of international mineral exploration • Previously VP Exploration at Filo Corp until 2025 acquisition by BHP/Lundin Mining Arndt Brettschneider VP Operations & Projects • 30 years of international mining, project development and consulting experience. • Prior to joining the Lundin Group of Companies in 2019, was Vice President of mining consulting businesses at two global engineering companies. Insiders Lundin Family Other % based on FDITM shares BMO Rene Cartier Canaccord Peter Bell CIBC Luke Bertozzi Cormark Stefan Ioannou Desjardins Bryce Adams Jefferies Fahad Tariq National Bank Rabi Nizami Pareto Alexander Ripe Ventum Max Myers Listings TSX:NGEX, OTCQX:NGXXF Basic Shares Outstanding1 206.9M Options Outstanding2 10.7M Basic Market Cap. C$6.3B (US$4.6B) Cash & Equiv. (Sept 30)1,3 ~C$132M (US$95M) 36% 3% 61% Corporate Snapshot Key Leadership Snapshot (as of February 19, 2026) Analyst Coverage Shareholder Summary
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NGExminerals.com TSX:NGEX 21 Filo style breccia ? Lunahuasi is part of a porphyry copper system • 4 mineralization styles discovered to date at Lunahuasi o High-sulphidation Cu-Au-Ag veins o Intermediate sulphidation epithermal Au quartz veins o Disseminated and stockwork high- sulphidation Cu-Au o Porphyry Cu-Au • All unusually high-grade • What else is out there? Giant systems with multiple styles of mineralization
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NGExminerals.com TSX:NGEX Long intervals of grades >1% CuEq a common theme at Lunahuasi 22 26 out of 43 holes average > 1% CuEq 19 of those are > 500m Note: See full drill results in Corporate Presentation > 500m > 1% Almost every hole ends in mineralization
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NGExminerals.com TSX:NGEX Phase 4: short range drilling – closer spaced Define and expand the Mars, Saturn and Jupiter zones MARS JUPITER SATURN
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NGExminerals.com TSX:NGEX 24 MARS SATURN Cu % Phase 4: mid-range drilling - step-out Numerous high-grade intersections outside the three named zones – step out drilling intended to expand and connect them
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NGExminerals.com TSX:NGEX 25 Phase 4: long-range drilling - exploration MT results suggest a much bigger prize 500m Wedge above drilling to date a huge opportunity “Wedge” is ~ 1500m x 1500m x 1000m Test anomalies and district scale modeling to discover new components of the Lunahuasi system and demonstrate its full potential
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NGExminerals.com TSX:NGEX 26 Los Helados is the only one with existing operating infrastructure nearby NGEx exploring possibility for Lunahuasi RIGI application Significant benefits from both a valuation and political risk standpoint RIGI benefits that can improve a project’s cash flow General Regime (without RIGI) With RIGI Benefits Income Tax General Rate 35% 25% Dividend Rate 7% 7% (years 1-7), 3.5% (starting year 8) Amortization Movable assets: 5 years Others: useful life 2 years Useful life reduced 60% Bank Debits and Credits 0.6% 0.6% 30% may be applied as credit towards income tax 100% may be applied as a credit towards income tax Mining Export Duties 4.5% 0% (from year 3) VAT Tax Credit Long period for VAT credit during the construction phase. An estimated 16% of CAPEX Granting of Tax Credit Certificate for VAT payment to VAT suppliers and VAT imports Import Duties Greater than 10%, subject to asset classification 0%
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NGExminerals.com TSX:NGEX 27 Los Helados is the only one with existing operating infrastructure nearby RIGI benefits that reduce the discount rate and financing costs General Regime (without RIGI) With RIGI Benefits Foreign Exchange Incentives Export Proceeds Obligation to be brought into the country and settled through the local foreign exchange market Exempt from the obligation to be brought into the country. The percentage of freely available funds will be as follows: - 20% after 2 years from the VPU’s commissioning date - 40% after 3 years - 100% after 4 years Access to the Foreign Exchange Market Prior Authorizations of BCRA No restrictions or prior authorizations Tax and Exchange Rate Stability Subject to modifications in tax rates, new taxes or access to foreign exchange market VPUs will be granted stability in tax, customs, and exchange rate matters for a period of 30 years from the date of adherence Tax Stability at the Provincial and Municipal Levels Subject to modifications in tax rates, new taxes Provinces and municipalities that adhere to the RIGI may not impose new local taxes on VPU or modify the existing tax structure. San Juan adhered to the RIGI and invited its municipalities to do so Dispute Resolution Mechanism Argentine courts of general jurisdiction Various options and jurisdictions would granted for dispute resolution (including international jurisdiction)
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NGExminerals.com TSX:NGEX 28 Los Helados is a large deposit with operating infrastructure nearby Large copper-gold porphyry deposit located 9 km north of Lunahuasi in Region III, Chile Ownership: ~69% owned and operated by NGEx, ~31% owned by JX Nippon Location: Region III, Chile - 17 km from Caserones mine (Lundin Mining 70%/JX Nippon 30%) Historical Drilling: 93,750m across 106 diamond drill holes and significant historical engineering and metallurgical work completed Resource: 2023 Mineral Resource includes 510 Mt at 0.72% CuEq of Indicated Resource at a 0.6% CuEq cut-off Snapshot IndicatedCu (@ 0.33% Cut-Off) Inferred IndicatedAg (@ 0.33% Cut-Off) Inferred IndicatedAu (@ 0.33% Cut-Off) Inferred 18.4 Blbs 8.3 Blbs 10.2 Moz 3.6 Moz 97.5 Moz 50.2 Moz (1) Refer to slide 40 for copper equivalent (“CuEq”) formula and additional details regarding the reporting of the Los Helados resources statement
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NGExminerals.com TSX:NGEX 29Source: S&P and company disclosure; CuEq calculated using $3.90/lb Cu, $1,800/oz Au and $20/oz Ag -- 10 20 30 40 50 Cascabel Los Azules Los Helados Vizcachitas Altar Warintza AntaKori Measured & Indicated Resources Inferred Resources M&I Cu Grade: 0.35% 0.40% 0.40% 0.38% 0.43% 0.47% 0.48% (Billions of pounds of copper equivalent) Los Helados is the only one with existing operating infrastructure nearby A highly valuable asset that underpins NGEx’s valuation Los Helados vs Other Copper Projects Undeveloped Copper Projects in Latin American not Owned by a Major
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NGExminerals.com TSX:NGEX 30 Notes: 1. Mineral Resource prepared in accordance with CIM (2014) definitions 2. All dollar amounts are presented in U.S. dollars 3. Mineral Resources are estimated at a cut-off grade of 0.33% CuEq based on an underground block cave mining cost of $8.00/t, a processing cost of $12.00/t, and a general & administrative cost of $1.00/t 4. Mineral Resources are estimated using a copper price of $3.90/ lb, a gold price of $1,800/oz, and a silver price of $20/oz 5. Metallurgical recoveries used for the CuEq calculation correspond to three geometallurgical zones, defined by depth below surface: a) Upper: Cu 83.1%, Au 72.8%, Ag 31.0% b) Intermediate: Cu 90.2%, Au 80.3%, Ag 54.9% c) Deep: Cu 93.1%, Au 82.5%, Ag 70.5% 6. The formulas used for the CuEq calculation are: a) Upper: CuEq % = Cu % + (0.681008 x Au (g/t)) + (0.002989 x Ag (g/t)) b) Intermediate: CuEq % = Cu % + (0.692039 x Au (g/t)) + (0.004877 x Ag (g/t)) c) Deep: CuEq % = Cu % + (0.688852 x Au (g/t)) + (0.006068 x Ag (g/t)) 7. Bulk density is 2.67 t/m3 8. Mineral Resources are reported within an optimized underground block cave mining shape to demonstrate reasonable prospects fo r eventual economic extraction (RPEEE). The block cave considered a column size of 20m x 20m x (≥ 80m) 9. There are 40 Mt of unclassified material excluded from inside the base case block cave shape 10. Cut-off grades refer to diluted cut-off grades used to generate the corresponding block cave shapes. For each cut -off grade, the tonnes and grade represent the total Indicated or Inferred material within each of these shapes 11. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability 12. Numbers may not add due to rounding 13. “Technical Report on the Los Helados and Lunahuasi Projects, Chile and Argentina” dated December 13, 2023 (effective date October 31, 2023), which incorporates the mineral reso urces statement for Los Helados is available on the Company’s website and SEDAR+. Cut-Off (%CuEq) Category Tonnes (billions) Grade Contained Metal Cu (%) Au (g/t) Ag (g/t) CuEq (%) Cu (Blbs) Au (Moz) Ag (Moz) 0.25% Indicated 2.39 0.38 0.15 1.4 0.49 19.9 11.3 106.6 Inferred 1.84 0.30 0.10 1.3 0.38 12.2 5.8 75.4 0.33% Indicated 2.08 0.40 0.15 1.5 0.51 18.4 10.2 97.5 Inferred 1.08 0.34 0.10 1.4 0.42 8.2 3.6 50.2 0.60% Indicated 0.51 0.56 0.21 1.8 0.72 6.3 3.5 30.2 Inferred 0.04 0.62 0.09 2.4 0.70 0.6 0.1 3.4 Los Helados – Mineral Resource Statement
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NGExminerals.com TSX:NGEX 31 Valle Ancho Highly prospective copper-gold project in Catamarca Province, Argentina Snapshot Ownership: 100% owned by NGEx Location: Underexplored district scale 100,000 hectare land package on the Argentina side of the Maricunga Gold Belt • Located ~40 km from the Norte Abierto and Maricunga gold projects • Prolific Maricunga Gold Belt contains over 100 Moz gold on the Chilean side Drilling: NGEx scout drill program in 2022. Oxide gold and supergene enriched copper • 150 metres at 1.05 g/t gold from surface, and 198 metres at 0.63 g/t gold from surface • 596.5 metres grading 0.23% copper, 0.37 g/t gold, 1.4 g/t silver Future plans: Multiple drill ready targets The Lundin Group
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NGExminerals.com TSX:NGEX 32 To responsibly develop Los Helados and Lunahuasi, two significant copper assets whose development will help power the green economy, creating lasting value for our stakeholders and contributing to a sustainable future NGEx’s Sustainability Strategy Framework Responsible Resource Development Environmental Stewardship Strong Workforce & Communities We uphold ethical governance and business practices that drive responsible decision- making and long-term success We prioritize the safety and wellbeing of our workforce and cultivate strong relationships with local communities We integrate sustainable practices and technologies to minimize our environmental impact wherever possible See Sustainability - NGEx Minerals.com for more details and to download our Sustainability Report