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2017-11-13

NGEX ACQUIRES 100% INTEREST IN JOSEMARIA

a lämnas enligt börsens regler

NGEX ACQUIRES 100% INTEREST IN JOSEMARIA

November 13, 2017 (TSX:NGQ; Nasdaq Stockholm:NGQ) NGEx Resources Inc. ("NGEx"
or the "Company”) is pleased to announce that it has acquired the 40% interest
in the Josemaría project (the “Property”) held by its partner Japan Oil, Gas,
and Metals National Corporation (“JOGMEC”). Pursuant to the terms of the
agreement, the consideration is payable in three installments: US$3.0 million
payable immediately, US$5.0 million upon a development decision being made, and
US$13.0 million upon the commencement of commercial production from the
Property for total cash consideration of US$21.0 million. In addition, the
agreement grants JOGMEC an option to purchase up to 40% of the material
produced from any mine on the Property based on the prevailing market price for
the material. As a result of entering into the agreement, NGEx now holds a
100% interest in the Josemaría project.

Commenting on the transaction, Wojtek Wodzicki, President and CEO remarked, “We
are very pleased to increase our interest in Josemaría and are excited about
the development flexibility that comes with full ownership. We would like to
thank JOGMEC for their support through many years of successful exploration,
and look forward to opportunities to work with them again in the future. It
has been an excellent partnership.”

About Josemaria

Josemaria is a copper-gold porphyry deposit located in San Juan Province,
Argentina. At a 0.2% copper equivalent (CuEq) cutoff grade, Josemaria has an
Indicated Resource of 1.07 billion tonnes of 0.44% Cu Eq (0.31% copper, 0.22
g/t gold and 1 g/t silver) containing 7.4 billion pounds of copper, 7.4 million
ounces of gold, and 34.5 million ounces of silver. Included in the above
Indicated resource is a near surface high grade zone defined by a 0.6% CuEq
cutoff grade which contains 148 million tonnes of 0.76% CuEq (0.56% copper;
0.38 g/t gold and 1.5 g/t silver).

About NGEx

NGEx is a Canadian mineral exploration company with exploration projects in
Chile and Argentina. The Company's shares are listed on the TSX and on Nasdaq
Stockholm under the symbol "NGQ". The Company's focus is on advancing the
development of its two large copper-gold deposits, Los Helados and Josemaría,
located in Chile's Region III and adjacent San Juan Province, Argentina. The
Company owns a 100% interest in the Josemaria project and is the majority
partner and operator for the Los Helados project. Los Helados is subject to a
Joint Exploration Agreements with its joint exploration partner in Chile, Pan
Pacific Copper (“PPC”).

Qualified Persons

Technical disclosure for the Josemaria Project included in this press release,
has been reviewed and approved by Bob Carmichael, P. Eng. (BC). Mr. Carmichael
is NGEx’s Vice-President of Exploration and a Qualified Person ("QP") under
National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Additional Information
For further details with regards to the Josemaria project and resource
estimate, please refer to the technical report (the “Technical Report”) with an
effective date of February 12, 2016 and titled "Project Constellation
incorporating the Los Helados Deposit, Chile and the Josemaria Deposit,
Argentina NI 43-101 Technical Report on Preliminary Economic Assessment",
prepared by Amec Foster Wheeler International Ingeniería y Construcción
Limitada ("AMEC"). The Technical Report is available for review under the
Company's profile on SEDAR (www.sedar.com) and on the Company's website
(www.ngexresources.com). Mineral Resources are reported using a copper
equivalent (CuEq) cutoff grade. CuEq was calculated using US$3.00/lb copper,
US$ 1,400/oz gold and US$23/oz Ag and was based on copper, gold and silver
recoveries obtained in metallurgical testwork on four composite samples
representing the rhyolite, tonalite, porphyry and supergene zones. Copper
recoveries for the rhyolite, tonalite and porphyry zones were calculated as a
function of copper grade, ranging from a low of 81% to a high of 97%. Copper
recovery in the supergene zone was fixed at 85%. Gold recoveries were fixed
between 62% and 73% and silver recoveries were fixed between 53% and 75%
depending on the zone. The Mineral Resources have an effective date of August
7, 2015.

This information is information that NGEx Resources Inc. is obliged to make
public pursuant to the EU Market Abuse Regulation and the Swedish Securities
Markets Act. The information was submitted for publication, through the agency
of the contact person set out below, November 13, 2017 at 2:00 a.m. Toronto
Time.

On behalf of the board

Wojtek Wodzicki

President and CEO

For further information, please contact: Sophia Shane, Corporate Development
(604) 689-7842.

Cautionary Note Regarding Forward-Looking Information

Certain statements made and information contained herein in the press release
constitutes “forward-looking information” and forward-looking statements”
within the meaning of applicable securities legislation (collectively,
“forward-looking information”). The forward-looking information contained in
this press release is based on information available to the Company as of the
date of this press release. Except as required under applicable securities
legislation, the Company does not intend, and does not assume any obligation,
to update this forward-looking information. Generally, this forward-looking
information can frequently, but not always, be identified by use of
forward-looking terminology such as "plans", "expects" or "does not expect",
"is expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or variations of such
words and phrases or statements that certain actions, events, conditions or
results “will”, "may", "could", "would", "might" or "will be taken", "occur" or
"be achieved" or the negative connotations thereof. All such forward-looking
information is based on the opinions and estimates of the relevant management
as of the date such statements are made and are subject to important risk
factors and uncertainties, many of which are beyond the Company's ability to
control or predict.

All statements other than statements of historical fact may be forward-looking
statements. Forward-looking information is necessarily based on estimates and
assumptions that are inherently subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be materially different
from those expressed or implied by such forward-looking information, including
but not limited to: risks and uncertainties relating to, among other things,
the inherent uncertainties regarding cost estimates, changes in commodity and
metal prices, currency fluctuation, financing, unanticipated resource grades
and recoveries, infrastructure, results of exploration activities, cost
overruns, availability of materials and equipment, timeliness of government
approvals, taxation, political risk and related economic risk and unanticipated
environmental impact on operations as well as other risks and uncertainties
more fully described under "Risks Factors", and elsewhere, in the Company's
most recent Annual Information Form available under the Company's profile at
www.sedar.com and the Company's website.

The Company believes that the expectations reflected in the forward-looking
statements and information included in this press release are reasonable but no
assurance can be given that these expectations will prove to be correct and
such forward-looking statements and information should not be unduly relied
upon. These statements and information speaks as of the date of the press
release. In particular, this press release contains forward-looking statements
or information pertaining to: the terms of an agreement with respect to the
Josemaría project, including future cash considerations; JOGMEC’s option to
purchase up to 40% of any material produced from a mine on the Josemaria
Property; the potential development of the Josemaria Project; the Company’s
expectations and estimates with respect to cost estimates and other assumptions
used in the Technical Report and expectations from the Technical Report; and
assumptions used in the updated mineral resources estimates for the Josemaria
project.

Forward-looking information is based on certain assumptions that the Company
believes are reasonable, including that the current price of and demand for
commodities will be sustained or will improve, the supply of commodities will
remain stable, that the general business and economic conditions will not
change in a material adverse manner, that financing will be available if and
when needed on reasonable terms and that the Company will not experience any
material labour dispute, accident, or failure of plant or equipment. These
factors are not, and should not be construed as being, exhaustive. Although
the Company has attempted to identify important factors that would cause actual
results to differ materially from those contained in forward-looking
information, there may be other factors that cause results not to be as
anticipated, estimated, or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. All of the
forward-looking information contained in this document is qualified by these
cautionary statements. Readers are cautioned not to place undue reliance on
forward-looking information due to the inherent uncertainty thereof.

Statements relating to "mineral resources" are deemed to be forward looking
information, as they involve the implied assessment, based on certain estimates
and assumptions that the mineral resources described can be profitably produced
in the future.

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Författare Nasdaq Stockholm

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