Ngex Minerals Ltd. · TSX:NGEX
Ngex Minerals — Investor Presentation (April 2023)
34 slides from Ngex Minerals's investor presentation, April 2023
Slide 1: Vicuña: An emerging giant copper-gold-silver district
Vicuña An emerging giant copper-gold-silver district in Argentina/Chile 1
Slide 2: Table of Contents
Background Slides 3-8 Vicuna District Presentation Slides 9-32 Corporate Summaries Slides 33-62 • Filo Mining Slides 37-44 • Josemaria Resources Slides 45-52 • NGEX Minerals Slides 53-61 Table of Cautionary Language Slide 62 Contents
Slide 3: A great time to be in the copper business
A great time to be in the copper business ….and the energy transition is just beginning Copper Price 3 Source: trandingeconomics.com
Slide 4: The central Andes produce 37% of global copper
The central Andes produce 37% of global copper 2022E Cu mined output by region 26% 37% All others South America 4% (Chile, Peru) Australia Argentina 5% Zambia is coming…. 8% DRC 11% 8% North America (Canada, USA, Mexico) China
Slide 5: Southern Peru / Andes copper map
~@ SOUTHERN PERU ARGENTINA >. cp RNS ye COLLAHUAS! ©) © CHUQUICAMATA | @ ESCONDIDA E rf e VICUNA es [ ; = | ~ = : = } @ ANDINA ag > J @ ELTENIENTE Sey ff € Most ofit from re centre erp LUNDINGROUP
Slide 6: Background
Background Giant in size, rare by nature Vicuña is an emerging giant 2009 2021 copper-gold-silver district 2016 2019 2019 controlled by Lundin Group junior companies. Long runway of value creation A portfolio of major Cu-Au-Ag Market Cap projects from exploration to mine development stage. $1.5b
Slide 7: When you find something big, think bigger
CURRENT INDUSTRY GIANTS Escondida, Chile 31 years of Cu When you find something big, production; 55+ think bigger. years of reserves Chuquicamata, Chile >100 years of Cu production; 35+ years of reserves Giant metal districts: Red Dog, Alaska 32 years of Zn-Pb production; 20+ years • The Holy Grail
Slide 8: Giant metal districts are unique & complex
Giant metal districts are unique & complex but most share 3 simple giant characteristics: 1 2 3 Scale Clusters Ore Typically outsized for their deposit class They commonly offer a regional cluster of giant Structures Big, long-life faults ore deposits
Slide 9: Giant size classifications
SIZE CLASSIFICATIONS Based on contained copper metal Giant 35,000,000 Behemothian >31,162,000 t Cu 30,000,000 25,000,000 Super giant by definition. >10,000,000 - 31,162,000 t Cu 20,000,000 Giant “Giant” is not a superlative or promotional 15,000,000 >3,162,000 - 10,000,000 t Cu description. Size of
Slide 10: The giant formula
The giant formula technical excellence leveraging entrepreneurial spirit. • Lundin Group has a 30-year history of success in South America: Alumbrera, Veladero, Candelaria, Fruta del Norte • 1999: first field season exploring a gap • Why was there a gap?: geological dogma Why a gap? • Long term comm
Slide 11: Giant districts are not built on one discovery but many
Giant districts are not built on one discovery but many • Giant metal districts contain multiple giant metal deposits. We have three • Vicuña is an emerging giant copper-gold-silver district controlled by Lundin Group companies
Slide 12: Industry analogs
1 Scale Industry 2 Clusters analogs 3 Structures
Slide 13: Giant metal deposits are commonly district scale
Giant metal deposits are 1 Scale commonly district scale Escondida Tenke Fungurume Chile DRC A district-scale cluster of porphyry deposits hosting 24.7 Mt Cu as Total Resources (2020) ~150 Mt Cu. The world’s largest copper mine 120 known, mineralized tectonic mega-blocks; 30 with delineated
Slide 14: Giant metal deposits typically occur in clusters
Giant metal deposits typically 2 Clusters occur in clusters Red Dog Alaska One of the World's greatest zinc repositories Two major ore clusters Numerous other regional deposits and prospects Robust, formational "basin-wide" Zn-Pb mineralizing event Independent of the metal the same geologica
Slide 15: Big structures – ore corridors control the giant deposits
Big structures – ore corridors 3 Structures control the giant deposits Ore Corridor Oyu Tolgoi Mongolia • 20 km long mineralized corridor with 13 km of mineral resources • Similar to the distance between Los Helados and Filo del Sol Ore Corridor
Slide 16: Vicuña: a giant district in the making
Vicuña: Scale a giant district Clusters in the making Structures
Slide 17: Josemaria-Caserones Trend
Scale Clusters Vicuña: a giant district in the making Structures Josemaria-Caserones Trend Los Helados 25-23 milion years PROSPECTS 20 km Las Pailas Potro Cliffs Josemaria Filo del Sol 10 km
Slide 18: Los Helados copper-gold-silver deposit
Los Helados Scale Clusters copper-gold-silver deposit Structures SEG SIZE CLASSIFICATIONS A giant copper-gold-silver Super Giant deposit on the cusp of >10,000,000 – becoming a super giant. 31,162,000 t Cu Giant >3,162,000 - 10,000,000 t Cu Indicated Resource 17.6 billion lbs Cu (8.0 Mt Cu) 10.1 mil
Slide 19: Filo del Sol copper-gold-silver deposit
Filo del Sol Scale Clusters copper-gold-silver deposit Structures Still growing.. SEG SIZE CLASSIFICATIONS Super Giant >10,000,000 – 31,162,000 t Cu Indicated Resource Giant 3.1 billion lbs Cu (1.4 Mt Cu) >3,162,000 - 4.4 million oz Au 10,000,000 t Cu 147 million oz Ag Inferred Resource 1.1 billion
Slide 20: Filo del Sol: giant deposits are freaks of nature
Filo del Sol Scale Clusters copper-gold-silver deposit Structures Giant deposits are freaks of nature Oyu Tolgoi Comparison with Filo del Sol Underground Block-Cave Mine Open-Pit Mine Underground Block-Cave Mine HERUGA DEPOSIT SOUTHERN OYU DEPOSITS HUGO DUMMETT DEPOSIT Filo del Sol Drilled footprint
Slide 21: Filo del Sol drill intercepts
Filo del Sol Scale Clusters copper-gold-silver deposit Structures From To Length Ag Hole-ID Cu % Au g/t CuEq %1 (m) (m) (m) g/t FSDH041 188.0 1,046. 858.0 0.86 0.70 48.1 1.80 incl 376.0 1,046. 670.0 1.07 0.85 60.9 2.23 incl 780.3 943.3 163.0 2.31 2.07 183.0 5.43 and incl 780.3 864.0 83.7 3.13 2.40 2
Slide 22: Filo del Sol: size and grade
Filo del Sol Size and grade All of Los Helados would fit inside the blue box Slide 22
Slide 23: Filo del Sol: clustering of mineralization styles
Filo del Sol Scale Clusters copper-gold-silver deposit Structures Secondary Cu-Au-Ag “Oxide” zone Epithermal Au-Ag-Cu Clustering of different types of mineralization styles all in one deposit Repeated, overlapping episodes of mineralization Rare, large scale copper mineral upgrading process
Slide 24: Filo del Sol: silver zone
Filo del Sol Scale Clusters copper-gold-silver deposit Structures Clustering of different types of mineralization Silver zone styles all in one deposit Repeated, overlapping episodes of mineralization A major silver deposit “hidden” within a copper- gold deposit A dumping ground for copper,
Slide 25: Josemaria-Caserones Trend
Filo del Sol Scale Clusters copper-gold-silver deposit Structures Big, long life faults Los Helados Josemaria-Caserones Trend control location of 25-23 milion years deposits PROSPECTS 20 km Las Pailas Potro Cliffs Josemaria Filo del Sol 10 km
Slide 26: Las Pailas Porphyry Cu-Au-Ag Prospect
Las Pailas Porphyry Cu-Au-Ag Prospect 26
Slide 27: Josemaría copper-gold-silver deposit
Josemaría Scale Clusters copper-gold-silver deposit Structures SEG SIZE CLASSIFICATIONS District's centre of gravity. Super Giant Commercial production >10,000,000 – expected for early 2026. 31,162,000 t Cu Giant >3,162,000 - Measured + indicated resources 10,000,000 t Cu 7.4 billion lb copper (3.3M
Slide 28: If it walks like a giant, and talks like a giant...
If it walks like a giant, and talks like a giant...
Slide 29: Vicuña takes its place in the land of copper giants
Vicuña takes its place in the land of copper giants Collahausi Chuquicamata Escondida El Salvador Resource Footprint Alteration Footprint Vicuña 0 5 1 20km 0 El Teniente
Slide 30: Super giant
SIZE CLASSIFICATIONS Based on contained copper metal Super 35,000,000 Behemothian >31,162,000 t Cu 30,000,000 giant 25,000,000 Super giant >10,000,000 - 31,162,000 t Cu 20,000,000 Los Helados Filo Growing Josemaria 15,000,000 13 Mt Indicated by definition. 4 Mt Inferred * see Appendix for details 10
Slide 31: Vicuña: a giant opportunity
Scale Vicuña: a giant opportunity Clusters Held by Junior Companies Structures Giant in size, rare by nature Vicuña is an emerging giant copper-gold-silver district controlled by Lundin Group junior companies. Josemaria-Caserones Trend Los Helados 25-23 milion years Long runway of value creation
Slide 32: 30 years of success and the best is yet to come
30 years of success- and the best is yet to come Alumbrera Fiscal Stability 1993 Veladero 1998 Josemaria 2010 Los Helados 2012 Filo del Sol 2015 Josemaria Fiscal Stability Discussion 2021 32
Slide 33: Thank you. A giant journey
Thank you. A giant journey 33
Slide 34: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements 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 informa