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2016-03-15

NGEX ANNOUNCES PRIVATE PLACEMENT FOR GROSS PROCEEDS OF UP TO CDN $2.92 MILLION

CEEDS OF UP TO CDN $2.92 MILLION

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES

March 15, 2016: NGEx Resources Inc. (TSX: NGQ, Nasdaq Stockholm: NGQ) (“NGEx”
or the “Company”) reports that it intends to sell on a non-brokered, private
placement basis an aggregate of 4 million common shares of the Company (“Common
Shares”) at a price of Cdn $0.73 per share for gross proceeds of up to Cdn
$2.92 million. A 2.5% finders’ fee may be payable on all or a portion of the
Private Placement.

The Common Shares will be offered by way of a prospectus exemption in Canada
and the Common Shares sold in the Private Placement will be subject to a hold
period of four months plus one day. Completion of the Private Placement will
be subject to regulatory approval, including the approval of the Toronto Stock
Exchange, and certain other customary conditions including, but not limited to,
execution of subscription agreements between the Company and the subscribers.

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

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 Toronto Stock
Exchange and on NASDAQ Stockholm under the symbol “NGQ”. The Company’s focus
is on three advanced exploration stage copper-gold systems located on a
contiguous land package that the Company holds in Chile's Region III and
adjacent San Juan Province, Argentina. Los Helados is part of a joint venture
in which the Company holds 60% and Pan Pacific Copper Co., Ltd. holds 40%.
Josemaría is part of a joint venture in which the Company holds 60% and Japan
Oil, Gas, and Metals National Corporation (JOGMEC) owns 40%. NGEx holds a 100%
interest in the Filo del Sol Project. In addition to these more advanced
projects, the Company holds a portfolio of 100% owned early stage exploration
projects located in Chile and Argentina.

Additional Information

The information in this release is subject to the disclosure requirements of
NGEx Resources under the Swedish Securities Market Act and/or the Swedish
Financial Instruments Trading Act. This information was publicly communicated
on March 15, 2016 at 1:45 p.m. Eastern 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

This news release contains “forward looking statements” and “forward-looking
information” (collectively, “forward looking information”) within the meaning
of applicable Canadian securities legislation, concerning the business,
operations and financial performance and condition of NGEx Resources Inc.
Forward-looking information in this news release includes, but is not limited
to, statements regarding the anticipated amount to be raised in connection with
the Private Placement, how the Company plans to use the net proceeds from the
Private Placement expected receipt of regulatory approvals, the anticipated
completion of the Private Placement and general business and economic
conditions.

Generally, forward-looking information can be identified by the 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 state that certain actions, events or results “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,
failure to receive required approvals, the possibility that investors will not
subscribe for the Private Placement and the risk that closing conditions may
not be satisfied as well as other risks and uncertainties more fully described
under “Risks Factors” in the Company’s Annual Information Form available under
the Company's profile at www.sedar.com and the Company’s website.

The forward-looking information contained in this news release is made as of
the date of this news 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. Forward-looking information is
provided for the purpose of providing information about management's current
expectations and plans and allowing investors and others to get a better
understanding of the Company's operating environment. Forward-looking
information is based on certain assumptions that the Company believes are
reasonable, including that any necessary approvals will be obtained, the
proceeds will be used as currently intended, 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.

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