Ngex Minerals Ltd. · TSX:NGEX
Ngex Minerals — Investor Presentation (March 2026)
28 slides from Ngex Minerals's investor presentation, March 2026
Slide 1: Advancing the Next Copper-Gold Giant
ADVANCING THE NEXT COPPER-GOLD GIANT NO GUTS, NO GLORY TSX: NGEX High-Grade, High-Impact, Strategically Positioned OTCQX: NGXXF NGEXminerals.com March 2026
Slide 2: Cautionary Statement
Cautionary Statement Certain statements made and information contained herein in the presentation constitutes “forward-looking Estimates of Mineral Reserves and Mineral Resources information” and “forward-looking statements” within the meaning of applicable securities legislation (collectively, “for
Slide 3: NGEx has generated significant value for shareholders
NGEx has generated significant value for shareholders Lunahuasi is the next chapter in the ongoing story Track record of value creation through the drill bit Share price has outperformed copper 2016 2019 2025 Market Cap Market Cap ~$40million ~$12billion 3 early stage exploration projects in the (fu
Slide 4: Portfolio of two world-class assets
Portfolio of two world-class assets Lunahuasi and Los Helados located in the rapidly advancing Vicuña District LUNAHUASI LOS HELADOS SAN JUAN ARGENTINA REGION III CHILE NEW HIGH-GRADE DISCOVERY ONE OF THE LARGEST COPPER PROJECTS GLOBALLY 60m @ 205m @ 1,619m @ 94m @ 18.4 10.2 97.5 7.5% CuEq 5.1% CuEq
Slide 5: The last way to attain exploration leverage in the Vicuña district
MARICUNGA BELT The last way to attain exploration Caldera Port & Desalination Plant Marte leverage in the Vicuña district (Lundin Mining) La Pepa Lobo Copiapó Pantanillo Maricunga Candelaria Mine (Lundin Mining) Caspiche CASERONES ~155 km operating mine Cerro Casale Los Helados CHILE Caserones (Lund
Slide 6: Lunahuasi is unique in the Vicuña District
Lunahausi is unique in the Vicuña District Lunahuasi has multiple overprinting styles of mineralization GRADE + SCALE + GOLD Cu-Au porphyry with high-sulphidation Cu-Au-Ag high-sulphidation veins Ultra high-grade Au in quartz veins overprint Hole 14: Hole 21: Hole 22: 9.4m at 40.12% CuEq 772.5m at 1
Slide 7: Phase 3 program made a number of significant discoveries
Phase 3 program made a number of significant discoveries Deposit open in all directions 10km to Los Helados Mineralized volume end of Phase 3: 1,200m N 1.2km x 1.2km x 1km 1,200m East-West North-South Vertical Successful step out holes tripled size of the mineralized volume 4 distinct styles of mine
Slide 8: Exploration results will continue to drive value in the near term
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 Closer spaced: define and expand the Mars, Saturn and Jupit
Slide 9: Phase 4 will continue testing high potential areas of opportunity
Phase 4 will continue testing high potential areas of opportunity Horizontal drill holes currently being drilled to test the wedge Wedge above drilling to date a huge opportunity Phase 4 will begin to test the wedge Example of horizontal drill holes 500m “Wedge” is ~ 1500m x 1500m x 1000m NGExminera
Slide 10: Recent MT results suggest a much bigger prize
Recent MT results suggest a much bigger prize Exploration drilling aims to demonstrate the full potential of Lunahuasi 500m NGExminerals.com TSX:NGEX 9
Slide 11: Fast tracking Lunahuasi towards development
Fast tracking Lunahuasi towards development Maximizing value generation by minimizing the timeline to production Exploration adit RIGI application Selected key RIGI benefits General Regime (without RIGI) With RIGI Benefits Income Tax Rate 35% 25% Granting of Tax Credit Long period for VAT credit dur
Slide 12: Los Helados and LunR are valuable assets
Los Helados and LunR are valuable assets Could help to fund a potential stand-alone development of Lunahuasi Los Helados (~69% NGEx/~31% JX Nippon) LunR Royalties (13,370,107 shares) 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 Reso
Slide 13: … and there is further unrealized value to be unlocked
… and there is further unrealized value to be unlocked Develop comprehensive plan to explore, finance, and eventually build a new high-grade copper-gold-silver mine Advance Permit and construct Stay flexible, stand-alone development exploration adit focus on value creation of Lunahuasi Consider opti
Slide 14: Appendix
Appendix TSX: LUN NASDAQ STOCKHOLM: LUMI 13
Slide 15: Corporate Snapshot
Corporate Snapshot Key Leadership Snapshot (as of March 19, 2026) Shareholder Summary Dr. Wojtek Wodzicki Listings TSX:NGEX, OTCQX:NGXXF % based on FDITM shares President, CEO & Director Basic Shares Outstanding 216.9M • CEO of NGEx since inception in 2009 • Holds a doctorate in Geosciences & has 30
Slide 16: Lunahuasi is part of a porphyry copper system
Lunahuasi is part of a porphyry copper system Filo style breccia ? Giant systems with multiple styles of mineralization • 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 hig
Slide 17: Long intervals of grades >1% CuEq a common theme at Lunahuasi
Long intervals of grades >1% CuEq a common theme at Lunahuasi 26 out of 43 holes average > 1% CuEq 19 of those are > 500m > 500m > 1% Almost every hole ends in mineralization NGExminerals.com Note: See full drill results in Corporate Presentation TSX:NGEX 16
Slide 18: Phase 4: short range drilling – closer spaced
Phase 4: short range drilling – closer spaced Define and expand the Mars, Saturn and Jupiter zones JUPITER SATURN MARS NGExminerals.com TSX:NGEX
Slide 19: Phase 4: mid-range drilling - step-out
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 MARS SATURN Cu % NGExminerals.com TSX:NGEX 18
Slide 20: Phase 4: long-range drilling - exploration
Phase 4: long-range drilling - exploration Test anomalies and district scale modeling to discover new components of the Lunahuasi system and demonstrate its full potential Wedge above drilling to date a huge opportunity MT results suggest a much bigger prize 500m “Wedge” is ~ 1500m x 1500m x 1000m N
Slide 21: NGEx exploring possibility for Lunahuasi RIGI application
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 General Rate 35% 25% Income Dividend Rate 7% 7% (years 1-7), 3.5% (
Slide 22: 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 Exempt from the obligation to be brought into the country. Obligation to be brought into the The percentage of freely available funds will be as follows: Foreign Export Proceeds country a
Slide 23: Los Helados is a large deposit with operating infrastructure nearby
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 Snapshot Ownership: ~69% owned and operated by NGEx, ~31% owned by JX Nippon Location: Region III, Chile - 17 km from Caserones mine (Lundin Min
Slide 24: Los Helados vs Other Copper Projects
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 Helado
Slide 25: Los Helados – Mineral Resource Statement
Los Helados – Mineral Resource Statement Grade Contained Metal Cut-Off Tonnes Category (%CuEq) (billions) Cu Au Ag CuEq Cu Au Ag (%) (g/t) (g/t) (%) (Blbs) (Moz) (Moz) Indicated 2.39 0.38 0.15 1.4 0.49 19.9 11.3 106.6 0.25% Inferred 1.84 0.30 0.10 1.3 0.38 12.2 5.8 75.4 Indicated 2.08 0.40 0.15 1.5
Slide 26: 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 The Lundin Group • Located ~40 km from the Norte Abierto and
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
Slide 28: No Guts, No Glory
NO GUTS, NO GLORY Company Head Office Contact NGEx Minerals Ltd. Finlay Heppenstall Suite 2800 – 1055 Dunsmuir Street VP, Corp Dev & IR Vancouver, BC Telephone: (778) 386-4688 Canada V7X 1L2 Email: finlayh@ngexminerals.com @NGEx_minerals | NGExminerals.com | TSX: NGEX