NGEX Minerals Unveils Strategic Spin-Out Effective Date and Taps Adam Lundin as President & CEO of Lundin Energy Corp.

NGEX Minerals Ltd. (formerly NGEX Resources Inc.) is excited to announce the proposed effective date for its highly anticipated spin-out of international assets into Lundin Energy Corp. This significant corporate maneuver is slated for October 29, 2025, marking a pivotal moment for both entities and their stakeholders.

As part of this strategic realignment, Adam Lundin has been appointed as the President and Chief Executive Officer of Lundin Energy Corp.

(formerly Josemaria Resources Inc.). This leadership appointment underscores the company's commitment to leveraging experienced guidance as it embarks on a focused path forward with its newly consolidated asset base.

The spin-out will see NGEX Minerals distribute approximately 0.40 common shares of Lundin Energy Corp.

for each common share of NGEX Minerals held by shareholders. The record date for this distribution has been set for October 25, 2025. This allocation aims to provide shareholders with direct participation in the distinct future trajectories of both companies.

Following the spin-out, NGEX Minerals Ltd.

will sharpen its focus on its promising Los Helados and Valle Ancho projects, concentrating on their exploration and development potential. Meanwhile, Lundin Energy Corp., under Adam Lundin's leadership, will take the reins of the Josemaria project along with other international exploration ventures, positioning itself as a key player in its respective domain.

This strategic move is designed to unlock greater value for shareholders by creating two distinct, focused companies, each with clear objectives and management teams dedicated to maximizing the potential of their specific asset portfolios.

The separation is expected to provide greater financial flexibility and clarity for investors, allowing them to better assess and support the individual growth strategies of NGEX Minerals and Lundin Energy Corp.