NGEX Shareholders Give Green Light to Major Royalty Spin-Out!

In a decisive move poised to reshape its future, NGEX Minerals Ltd. proudly announced today that its shareholders have overwhelmingly approved the highly anticipated spin-out of the company’s valuable royalty assets. This strategic decision, reached at a recent Special Meeting, will see these assets transition into a newly formed, dedicated entity: NGEX Royalties Inc.

The approval marks a significant milestone, designed to unlock greater value for shareholders and create two distinct, focused companies with clear strategic objectives.

Under the terms of the approved arrangement, NGEX Minerals shareholders will receive one common share of NGEX Royalties for every ten common shares of NGEX Minerals they currently hold.

This distribution ensures that existing investors will directly benefit from the value inherent in the royalty portfolio. NGEX Royalties Inc. is expected to commence trading its common shares on the TSX Venture Exchange under the ticker symbol "NGXR," offering a fresh investment opportunity in the royalty space.

This strategic maneuver allows NGEX Minerals to sharpen its focus on its core business as a leading copper-gold exploration company.

Its primary attention will remain on advancing the promising Los Helados project, a key asset in its portfolio, driving forward the potential for significant mineral discoveries and development. By separating the royalty assets, NGEX Minerals can streamline its operations and allocate resources more efficiently towards exploration and development activities.

Meanwhile, NGEX Royalties Inc.

will emerge as a specialized company, boasting an impressive portfolio of royalties predominantly centered on high-potential copper-gold projects across South America. This includes a compelling 1% Net Smelter Royalty (NSR) on the renowned Josemaria project and a 0.5% NSR on the Los Helados project.

These royalties provide a stable, long-term revenue stream, offering investors exposure to the upside potential of these major mining endeavors without the direct operational risks.

The effective date for this transformative spin-out is anticipated to be September 29, 2025. This allows for all necessary administrative and regulatory steps to be finalized, ensuring a smooth transition for both companies and their shareholders.

The management expressed their gratitude for the strong shareholder support, viewing it as a testament to the strategic vision behind this initiative. Investors seeking more detailed information on the spin-out arrangement are encouraged to review the comprehensive Information Circular filed by NGEX Minerals Ltd.

in connection with the Special Meeting. This strategic separation is set to create enhanced value and clearer investment propositions for both NGEX Minerals and the newly minted NGEX Royalties Inc., reinforcing the Lundin Group's commitment to dynamic growth and shareholder prosperity.