NGEx Minerals Ltd. Announces Major Discovery in Argentina

Toronto, May 23, 2025 — NGEx Minerals Ltd., a Vancouver-based mining exploration company, has made a significant breakthrough with the discovery of a major copper-gold porphyry system at its Lunahuasi project in San Juan, Argentina. This announcement has led to a notable increase in the company’s share price, reflecting investor optimism about the potential of the new find.

Discovery Details

The discovery was confirmed on May 21, 2025, when NGEx Minerals reported drilling results from the Lunahuasi project. The company successfully drilled 1,619.4 meters, achieving an average of 0.87% copper equivalent (CuEq). Notably, a section of 876.4 meters yielded an enhanced grade of 1.13% CuEq. This discovery is significant as it confirms the geological interpretation of the Lunahuasi mineralization and suggests the presence of a large-scale mineral system.

Market Reaction

Following the announcement, NGEx shares experienced a surge on the Toronto Stock Exchange. The positive market response underscores the potential value of the Lunahuasi project to NGEx’s portfolio. As of May 15, 2025, the company’s close price was CAD 12.02, with a 52-week high of CAD 14.91 and a low of CAD 7.82. The market capitalization stands at approximately CAD 2.48 billion.

Company Overview

NGEx Minerals Ltd. specializes in the exploration of copper and gold deposits, serving clients globally. The company is listed on the Toronto Stock Exchange and trades under the symbol NGEX. Despite a negative price-to-earnings ratio of -30.6, the recent discovery could positively impact the company’s financial outlook.

Industry Context

The announcement comes amid broader market volatility, with major losses reported across North American markets on May 21, 2025. Investors were cautious due to uncertainties surrounding a U.S. tax bill and trade developments. Despite these challenges, NGEx’s discovery has provided a positive narrative for the company.

Future Prospects

The discovery at Lunahuasi positions NGEx Minerals for potential growth, as the company continues to explore and define the mineral resources at the site. Further developments and detailed assessments are expected to provide more insights into the project’s full potential.

For more information, stakeholders can visit NGEx Minerals’ website at www.ngexminerals.com or follow their updates on the TSX Venture Exchange.