Ngex Minerals Ltd. · TSX:NGEX

Ngex Minerals — Investor Presentation (August 2025)

45 slides from Ngex Minerals's investor presentation, August 2025

  1. Slide 1: No Guts No Glory

    NO GUTS NO GLORY COPPER-GOLD GRADE & SCALE IN THE HEART OF THE RAPIDLY ADVANCING VICUÑA DISTRICT NGEXminerals.com August 2025 | Powered by Market One TSX: NGEX | OTCQX: NGXXF

  2. Slide 2: Cautionary Statement

    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”). All statements other tha

  3. Slide 3: NGEx is the Last Piece of the Vicuña Puzzle

    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 Successful Phase 3 drilling Los Helados underpins Entry of Major into district Developing gold story campaign at Lunahuasi value and provides

  4. Slide 4: NGEx Owns Two World-Class Assets

    NGEX OWNS TWO WORLD-CLASS ASSETS Lunahuasi and Los Helados located in the rapidly advancing Vicuña District 60m @ 7.5% CuEq1 18.4 2023 Discovery Hole BILLION POUNDS² Contained Copper 429m @ 2.3% CuEq1 10.2 May 2024 Drill Hole MILLION OUNCES² Contained Gold 205m @ 5.1% CuEq1 97.5 January 2025 Drill H

  5. Slide 5: The Last Way to Attain Exploration Leverage in the Vicuña District

    MARICUNGA BELT Caldera THE LAST WAY TO ATTAIN Port & Desalination Plant Marte EXPLORATION LEVERAGE (Lundin Mining) Lobo La Pepa IN THE VICUÑA DISTRICT Copiapó Pantanillo Maricunga Candelaria Mine (Lundin Mining) Caspiche ~155 km Cerro Casale CASERONES Los Helados CHILE operating mine Caserones (Lund

  6. Slide 6: Spin-out of Lunahuasi and Los Helados Royalties

    SPIN-OUT OF LUNAHUASI AND LOS HELADOS ROYALTIES NGEx to create a 1% NSR royalty on Lunahuasi and 2% NSR royalty on the Los Helados Project 1% NSR on Lunahuasi to NGEx ROYALTY STRUCTURE 2% NSR on Los Helados - 1.38% to NGEx; 0.62% to JX Shareholder vote on the Arrangement: NGEx Minerals September 12,

  7. Slide 7: Lunahuasi: An Emerging Giant

    LUNAHUASI AN EMERGING GIANT

  8. Slide 8: Grade, Scale, Gold is Unique in the Vicuña District

    LUNAHUASI IS UNIQUE IN THE VICUÑA DISTRICT GRADE + SCALE + GOLD Bonanza-grade vein structures Long, high-grade intervals in multiple Samples up to75.6 g/t Au and 4,220 g/t Ag holes ending in good mineralization Hole 2: Hole 21: Hole 22: 60m at 7.52% CuEq 772.5m at 1.60% CuEq 38.9m at 10.04 g/t Au (5

  9. Slide 9: Lunahuasi's Gold Intercepts Comparable to World Class Deposits

    LUNAHUASI’S GOLD INTERCEPTS ARE COMPARABLE TO WORLD CLASS DEPOSITS Fruta del Norte Deposit Dimensions Recent Lunahuasi Gold Fruta del Norte 2024 Results Conversion drilling highlights M&I Resources Average Grade: 7.8 g/t 38.9m at 10.04g/t Au 77.1m at 6.95g/t Au 104.8m at 14.74g/t Au 42.5m at 7.51g/t

  10. Slide 10: Lunahuasi is Part of a Major New District

    LUNAHUASI IS PART OF A MAJOR NEW DISTRICT Deposit lies along same structural corridor as Filo del Sol and Los Helados LUNAHUASI CASERONES 6km 9km FILO DEL SOL 17km 8km LOS HELADOS Vicuña (Filo del Sol + Josemaria) JV Mineral Resource Estimate¹ JOSEMARIA Cu Au Ag M&I 13 Mt 32 Moz 659 Moz Inferred 25

  11. Slide 11: Phases 1 & 2 Indicated High Grades and Large Size Potential

    PHASES 1 & 2 (2023-2024) INDICATED HIGH GRADES AND LARGE SIZE POTENTIAL Deposit open in all directions, with many holes ending in mineralization Lunahuasi Plan View 900m N Mineralized volume after Phase 1 & 2: 900m x 400m x 960m 200m 400m East-West North-South Vertical OPEN IN ALL DIRECTIONS • Most

  12. Slide 12: across top of ridge

    2 km across top of ridge DPDH021 DPDH022 DPDH002 Discovery Hole *Drill hole location is approximate*Drill hole location is approximate

  13. Slide 13: Phase 3 - A Very Successful Exploration Program

    PHASE 3- A VERY SUCCESSFUL EXPLORATION PROGRAM Program now complete - 27 holes totaling ~25,300 meters drilled Mineralized volume to date: 1.5km x 1.1km x 1km East-West North-South Vertical • Successful step out holes that tripled the size of the mineralized volume - which remains open in all direct

  14. Slide 14: Recently Discovered Porphyry System at Lunahuasi

    RECENTLY DISCOVERED PORPHYRY SYSTEM AT LUNAHUASI High-grade Lunahuasi mineralization part of a much larger porphyry related system

  15. Slide 15: Also Discovered High-Grade Gold Veins at Lunahuasi

    ALSO DISCOVERED HIGH-GRADE GOLD VEINS AT LUNAHUASI Ultra high-grade free gold in quartz veins including 504.0 g/t over 1.55m and 290.0 g/t over 0.90m in two separate veins Select DPDH046 Au results From (m) To (m) Length Est. True Au g/t Au g/t (cut (m) Width (m) to 90 g/t) DPDH046 447.00 551.80 104

  16. Slide 16: Los Helados: Fundamental to Value Proposition and Provides Optionality

    LOS HELADOS FUNDAMENTAL TO VALUE PROPOSITION AND PROVIDES OPTIONALITY

  17. Slide 17: Los Helados is a Large Deposit with Operating Infrastructure Nearby

    LOS HELADOS IS A LARGE DEPOSIT WITH OPERATING INFRASTRUCTURE NEARBY CASERONES Large copper-gold porphyry deposit located 9 km north of Lunahuasi in Region III, Chile Cu (@ 0.33% Cut-Off) SNAPSHOT Indicated Inferred Ownership: ~69% owned and operated by NGEx, ~31% owned by JX Nippon 18.4 Blbs 8.3 Blb

  18. Slide 18: A Highly Valuable Asset that Underpins NGEx's Valuation

    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 50 (Billions of pounds of copper equivalent) Inferred Resources Measured & Indicated Resources 40 30 20 10 Cascabel Los Azules Los Helados V

  19. Slide 19: Delivering Value Through Successful Exploration

    DELIVERING VALUE THROUGH SUCCESSFUL EXPLORATION

  20. Slide 20: NGEx Has Generated Significant Value for Shareholders

    NGEX HAS GENERATED SIGNIFICANT VALUE FOR SHAREHOLDERS… Experienced management team with strong track record of discovery and value creation Track record of value creation through the drill bit Share price has outperformed copper 2500% L D L D S O S O 2000% Market Cap 3 early stage Exploration 1500%

  21. Slide 21: And There is Further Unrealized Value to be Unlocked

    … AND THERE IS FURTHER CASERONES $3.3B NAV4 UNREALIZED VALUE TO BE 2P Reserves: 0.9Bt at 0.31% Cu³ Current mine life: 2040³ UNLOCKED NGEx is undervalued when considered NGEx ownership in the broader Vicuna district 17 km LOS HELADOS Lundin Mining ownership Ind. resources: 2.1Bt at 0.51% CuEq2,6 JX N

  22. Slide 22: Pathway to Value Creation

    PATHWAY TO VALUE CREATION Activity focused on Lunahuasi - exploration is where near-term value will be created Stand-alone Strategic development of Upside provided Potential future investments and Lunahuasi may be by new Lundin monetization of M&A remains an the pathway to backed Los Helados alterna

  23. Slide 23: No Guts, No Glory

    TSX: NGEX | OTCQX: NGXXF NO GUTS, NO GLORY COMPANY HEAD OFFICE CONTACT Suite 2800 – 1055 Dunsmuir Street Finlay Heppenstall / VP, Corp Dev & IR @NGEx_mineral Vancouver, BC V7X 1L2 Canada t: 778.386.4688 / e: finlayh@ngexminerals.com NGExminerals.com

  24. Slide 24: Appendix

    APPENDIX

  25. Slide 25: Key Leadership

    KEY LEADERSHIP Dr. Wojtek Wodzicki Bob Carmichael Arndt Brettschneider President, CEO & Director VP Exploration VP Operations & Projects • CEO of NGEx since inception in 2009 • Professional geological engineer with over • 30 years of international mining, project 30 years of international mineral ex

  26. Slide 26: Corporate Snapshot

    CORPORATE SNAPSHOT SNAPSHOT (as of July 24, 2025) SHAREHOLDER SUMMARY Listings TSX:NGEX, OTCQX:NGXXF % based on FDITM shares Basic Shares Outstanding 206.9M Options Outstanding¹ 10.7M Basic Market Cap. (Jul 24) C$4.3B (US$2.9B) Cash & Equiv. (Mar 31)² ~C$144M (US$104M) ANALYST COVERAGE 36% BMO Rene

  27. Slide 27: NGEx's Sustainability Strategy Framework

    NGEX’S SUSTAINABILITY STRATEGY FRAMEWORK 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 RESPONSIBLE RESOURCE STRONG WORKFORCE & E

  28. Slide 28: Lunahuasi – Extraordinary Grades Over a Broad Area

    LUNAHUASI – EXTRAORDINARY GRADES OVER A BROAD AREA DPDH014 DPDH021 Distance between these two intervals is nearly 400M 9.4m at 40% CuEq 4.8m at 41% CuEq UNUSUAL AND EXCEPTIONAL GRADES IN COPPER, GOLD, AND SILVER Note: See copper equivalent (“CuEq”) formula on page 1

  29. Slide 29: Lunahuasi Drill Results (Holes 1-5)

    LUNAHUASI DRILL RESULTS (HOLES 1-5) Copper Equivalent (CuEq) for 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). True widths a

  30. Slide 30: Lunahuasi Drill Results (Holes 6-9)

    LUNAHUASI DRILL RESULTS (HOLES 6-9) Copper Equivalent (CuEq) for 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). True widths a

  31. Slide 31: Lunahuasi Drill Results (Holes 10-12)

    LUNAHUASI DRILL RESULTS (HOLES 10-12) Copper Equivalent (CuEq) for 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). True widths

  32. Slide 32: Lunahuasi Drill Results (Holes 13-14)

    LUNAHUASI DRILL RESULTS (HOLES 13-14) Copper Equivalent (CuEq) for 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). True widths

  33. Slide 33: Lunahuasi Drill Results (Holes 15-16)

    LUNAHUASI DRILL RESULTS (HOLES 15-16) Copper Equivalent (CuEq) for 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). True widths

  34. Slide 34: Lunahuasi Drill Results (Holes 17-21)

    LUNAHUASI DRILL RESULTS (HOLES 17-21) Copper Equivalent (CuEq) for 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). True widths

  35. Slide 35: Lunahuasi Drill Results (Holes 22-25)

    LUNAHUASI DRILL RESULTS (HOLES 22-25) Copper Equivalent (CuEq) for 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). True widths

  36. Slide 36: Lunahuasi Drill Results (Holes 26-27)

    LUNAHUASI DRILL RESULTS (HOLES 26-27) Copper Equivalent (CuEq) for 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). True widths

  37. Slide 37: Lunahuasi Drill Results (Holes 28-30)

    LUNAHUASI DRILL RESULTS (HOLES 28-30) Copper Equivalent (CuEq) for 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). True widths

  38. Slide 38: Lunahuasi Drill Results (Holes 31-33)

    LUNAHUASI DRILL RESULTS (HOLES 31-33) Copper Equivalent (CuEq) for 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). True widths

  39. Slide 39: Lunahuasi Drill Results (Holes 34-35)

    LUNAHUASI DRILL RESULTS (HOLES 34-35) Copper Equivalent (CuEq) for 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). True widths

  40. Slide 40: Lunahuasi Drill Results (Holes 36-38)

    LUNAHUASI DRILL RESULTS (HOLES 36-38) Copper Equivalent (CuEq) for 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). True widths

  41. Slide 41: Lunahuasi Drill Results (Holes 39-41)

    LUNAHUASI DRILL RESULTS (HOLES 39-41) Copper Equivalent (CuEq) for 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). True widths

  42. Slide 42: Lunahuasi Drill Results (Holes 41-45)

    LUNAHUASI DRILL RESULTS (HOLES 41-45) Copper Equivalent (CuEq) for 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). True widths

  43. Slide 43: Lunahuasi Drill Results (Holes 46-47)

    LUNAHUASI DRILL RESULTS (HOLES 46-47) Copper Equivalent (CuEq) for 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). True widths

  44. Slide 44: Los Helados – Mineral Resource Statement

    LOS HELADOS – MINERAL RESOURCE STATEMENT 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

  45. Slide 45: Valle Ancho

    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 p

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