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Vancouver, Jan. 03, 2018 (GLOBE NEWSWIRE) --

January 3, 2018: NGEx Resources Inc. (TSX: NGQ) (Nasdaq Stockholm: NGQ)
(“NGEx” or the “Company”) is pleased to report that it has closed its
previously announced private placement.

The Company sold an aggregate of 12,500,000 common shares (the “Common
Shares”) at a price of CAD $1.00 per Common Share for gross proceeds of
CAD$12.5 million on a non-brokered, private placement basis.  A 5% finders’
fee is payable on 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. 

The Common Shares sold in the Private Placement are subject to a hold
period of four months plus one day under applicable securities law. 

Two insiders of the Company, directly or indirectly, purchased a total of
2,500,000 Common Shares under the Private Placement (the "Insider
Participation"), 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 as neither the fair market value of any Common
Shares issued to nor the consideration paid by such persons would exceed
25% of the Company’s market capitalization.

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 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 Agreement with its
joint exploration partner in Chile, Pan Pacific Copper ("PPC").

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 January 3, 2018 at 2:30 p.m. Pacific Time.

On behalf of the board

Wojtek Wodzicki,
President and CEO

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. In
particular, this press release contains forward-looking 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 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 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.

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 use the proceeds from the Private
Placement as currently intended, 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

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. 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

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