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2016-12-21

NGEX ANNOUNCES APPROVAL AND REGISTRATION OF SWEDISH PROSPECTUS AND CLOSING OF $10 MILLION PRIVATE PLACEMENT

NGEx Resources Inc
Prospectus/Announcement of Prospectus

NGEX ANNOUNCES APPROVAL AND REGISTRATION OF SWEDISH PROSPECTUS AND CLOSING OF
$10 MILLION PRIVATE PLACEMENT

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES

December 20, 2016: NGEx Resources Inc. (TSX: NGQ) (Nasdaq Stockholm: NGQ)
(“NGEx” or the “Company”) is pleased to report that it has obtained the
approval of and registration with the Swedish Financial Supervisory Authority
(the "FSA") of a listing prospectus (the "Swedish Prospectus") for an aggregate
of 8,000,000 new common shares. The Swedish Prospectus is available on the
Company's website at ngexresources.com and can be obtained from the Company
upon request. The FSA's approval and registration of the Swedish Prospectus and
its subsequent publication on the Company's website satisfies the only
remaining closing condition for a private placement initially announced on
November 29, 2016.

As a result, the Company has sold an aggregate of 8,000,000 new common shares
(the "Common Shares") at a price of CAD $1.25 per Common Share for gross
proceeds of CAD $10 million on a private placement basis to Canadian and
international investors (the "Private Placement"). A finders' fee of 4.00% was
paid in connection with a portion of the Private Placement.

Net proceeds of the Private Placement will be used towards ongoing work
programs in Chile and Argentina as well as for general corporate purposes.

Two insiders of the Company, Lorito Holdings S.à r.l. and Zebra Holdings &
Investments S.à r.l., directly or indirectly, purchased a total of 5,600,000
Common Shares under the Private Placement, constituting a "related party
transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101").
These transactions are exempt from the formal valuation and minority
shareholder approval requirements of MI 61-101 by virtue of the exemptions
contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 based on the fact that
neither the fair market value of any Common Shares issued to nor the
consideration paid by such persons exceeds 25% of the Company's market
capitalization.

All securities issued in respect of the Private Placement are subject to a
four-month hold period under applicable Canadian securities law.

This news release does not constitute an offer to sell or a solicitation of an
offer to buy the securities described herein in the U.S., or in any
jurisdiction in which such an offer or sale would be unlawful. The securities
described herein have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, or any U.S. state securities laws and may
not be offered or sold in the U.S. or to the account or benefit of a U.S.
person or a person in the U.S. absent registration or an applicable exemption
from the registration requirements.

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 its
Project Constellation which contemplates the integrated development of two
large copper-gold deposits, the Los Helados and the Josemaria deposits, located
in Chile's Region III and adjacent San Juan Province, Argentina. Los Helados is
part of a joint venture in which the Company holds approximately a 61.17%
interest and Pan Pacific Copper Co., Ltd. holds approximately a 38.83%
interest. Josemaría is part of a joint venture in which the Company holds 60%
and Japan Oil, Gas, and Metals National Corporation (JOGMEC) owns 40%.

Additional Information

This information is information that NGEx Resources Inc. is obliged to make
public pursuant to the EU Market Abuse Regulation. The information was
submitted for publication, through the agency of the contact person set out
below, on December 20, 2016 at 3:15 p.m. Pacific 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 Statements

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 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
prices, currency fluctuation, financing, unanticipated resource grades,
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 uncertainties and other factors, which
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.

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. This statement and information speaks as of the date of the press
release. In particular, this press release contains forward-looking statements
or information statements with respect to the use of proceeds from the Private
Placement, the success of future exploration activities; ability to build
shareholder value through discovery and resource development; and other risks
and uncertainties.

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.

Författare SSE

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