$1.04  even
NGEx Resources Inc.
The NGEx District

Chile's Biggest New Copper-Gold Camp


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Quarterly Updates

2017 First Quarter Report


The Company's long term view of the copper market is positive, with the expectation that tightening mine supply and growing demand, especially from developing countries, will contribute to stronger prices and require the development of new greenfield mining projects. The Company's strategy is to create value for its shareholders by expanding and increasing the quality of its resources through successful exploration and advancing the engineering and other studies that are required to prepare its projects for eventual development by the Company and its partners or by third parties. The overall objective is to position the Company as a top tier copper industry investment.

The Company continues to take advantage of opportunities to add value to Project Constellation at modest costs by evaluating lower cost development options including testing the heap leach potential of the oxide cap at Josemaría, continuing baseline environmental studies, and better defining a number of earlier stage exploration targets between Los Helados and Josemaría.

As part of the ongoing initiative to add value to Project Constellation, the Company initiated a series of metallurgical tests and studies on the gold oxide material at Josemaría during Q1 2017. The oxidized leached cap at Josemaría contains approximately 450,000 ounces of gold within an Indicated resource of 43 million tonnes at an average grade of 0.32 g/t gold. This material was considered as waste in the Project Constellation mine plan. A series of bottle-roll and column leach tests are currently in progress in order to confirm that the material is amenable to heap leaching. Results are expected in Q2 2017. The leach test results could potentially contribute to improving Project Constellation's economics.

The Company also carried out exploration work at Cerro Blanco, a promising exploration target located 2 kilometres from Los Helados during Q1 2017. Exploration activities conducted include construction of an access road to the site, geological mapping, and geochemical sampling. Cerro Blanco is one of several early stage exploration targets located in the vicinity of the proposed Project Constellation processing plant. The results were encouraging and further work is being considered for next field season.

The Company is actively working on building its project portfolio with a focus on copper-gold projects in Chile and Argentina and evaluating a number of exploration projects in Argentina for potential acquisition.

On February 1, 2017, the Company appointed Mr. James Beck as the Company's Vice President, Corporate Development and Projects. Mr. Beck is a registered Professional Engineer in the province of Ontario, holds a Bachelor of Applied Science from Queen's University and an MBA from the University of British Columbia. Mr. Beck also serves as the Vice President, Corporate Development and Projects of Filo Mining, an exploration company listed on the TSX-V and Nasdaq First North, Stockholm. Prior to his appointment, Mr. Beck was the Company's Director, Corporate Development.

During 2017, the Company will focus on advancing Project Constellation by continuing to optimize and de-risk the Project and explore options to advance the Project toward eventual development, including more active engagement with potential development partners or acquirers.

In its continual efforts to lay the groundwork for the development of this significant flagship project, work is planned to explore the varied development options that the Project provides in this new mining region. Specifically, the Company will seek opportunities to add value, at modest costs, by:

Evaluating high potential exploration targets within a few kilometers of the existing deposits and the proposed plant site; Continuing ongoing environmental baseline data collection surveys; and ? Exploring potential regional synergies and cooperative development plans with other regional operators to use spare capacity of processing plants and infrastructure, including port facilities. Innovative development concepts, such as those used at Teck & Goldcorp's Nueva Unión Project, open up the potential for sharing infrastructure on a regional scale by connecting deposits via long distance conveyor systems.

The Company continues to pursue these de-risking opportunities and will seek to engage with potential partners to lay the groundwork for either the eventual development by the Company and its partners or through a sale to a third party. Efforts will be focused on exploring all potential development scenarios for the Project Constellation assets while keeping costs to a minimum.

The Company will continue to pursue opportunities to add high quality new copper-gold exploration projects to our portfolio.

2016 Year End Report
2016 Third Quarter Report
2016 Second Quarter Report
2016 First Quarter Report
2015 Fourth Quarter Report
2015 Third Quarter Report
2015 Second Quarter Report
2015 First Quarter Report
2014 Fourth Quarter Report
2014 Third Quarter Report
2014 Second Quarter Report
2014 First Quarter Report
2013 Year End and Q4 Report

2013 Third Quarter Report

2013 Second Quarter Report

2013 First Quarter Report
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