NGEx Receives Environmental Approval for Development of an Exploration Adit at Lunahuasi
MWN-AI** Summary
NGEx Minerals Ltd. has successfully received environmental approval for the development of an exploration adit at its Lunahuasi project, located in San Juan Province, Argentina. This approval is granted by the Mining Authority of San Juan and is significant for NGEx, as Lunahuasi is recognized as the highest-grade copper-gold-silver deposit in the Vicuña District.
The approval of the Environmental Impact Statement (DIA) marks a crucial milestone in a rapidly progressing permitting process for the company, allowing for the advancement of underground exploration at Lunahuasi. Wojtek Wodzicki, President and CEO of NGEx, expressed satisfaction with the approval, emphasizing the strategic importance of advancing Lunahuasi responsibly and the positive relationship with provincial authorities. The underground development will enable the company to access high-grade material required for metallurgical and engineering studies and facilitate year-round drilling, enhancing geological definitions and preparing the project for the next stages of development.
In terms of next steps, NGEx plans to embark on preparatory work for the adit, which includes engineering, contractor selection, and surface facility preparations, targeting a start date for underground development in the fourth quarter of 2026, contingent on obtaining the remaining necessary permits. The underground access will provide valuable opportunities for drilling and sampling that will contribute to technical studies aimed at advancing the project.
NGEx Minerals, a Canadian company, is focused on the exploration of its Lunahuasi project and the nearby Los Helados project in Chile. Both projects are situated within the lucrative Vicuña District, which also hosts established mining operations, reinforcing the potential of NGEx's endeavors in the region.
MWN-AI** Analysis
NGEx Minerals Ltd. has recently received environmental approval for the development of an exploration adit at its Lunahuasi project, a notable achievement that could significantly enhance the company's growth trajectory in the mining sector. This approval is a critical milestone as it allows NGEx to begin underground evaluation, which is essential for advancing its geological understanding of a deposit that holds high-grade copper, gold, and silver.
Investors should view this regulatory approval as a strong signal of the Argentine government's commitment to responsible mineral development, which may bode well for future operations in the region. The approval process has been relatively swift, reflecting efficient engagement with local authorities—an encouraging sign for stakeholders focusing on operational timelines.
With plans to commence underground development by the fourth quarter of 2026, contingent upon obtaining remaining permits, NGEx's strategy appears to position the company favorably for increased operational efficiencies and improved exploration capabilities. The underground access will facilitate critical activities such as definition drilling and metallurgical sampling, thereby laying the groundwork for future technical studies and project viability assessments.
In consideration of these developments, the market outlook for NGEx shares may improve, particularly as the company moves closer to tangible outputs from its Lunahuasi project. However, investors should also be cognizant of potential risks associated with commodity price fluctuations, regulatory changes, and operational challenges that are commonplace in mining ventures.
In summary, NGEx shows promise for substantial growth following the recent approval of the exploration adit. Investors may consider this an opportune entry point while closely monitoring further advancements and permit acquisitions essential for the project's continued development.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Canada NewsWire
VANCOUVER, BC, March 9, 2026 /CNW/ - NGEx Minerals Ltd. ("NGEx", "NGEx Minerals" or the "Company") (TSX: NGEX) (OTCQX: NGXXF) is pleased to announce that the Mining Authority of San Juan Province, Argentina, has approved the Environmental Impact Statement ("DIA", or Declaración de Impacto Ambiental) for the development of an exploration adit at the Company's 100%?owned Lunahuasi project, the highest?grade copper?gold?silver deposit in the Vicuña District. PDF Version
The approval of the DIA represents a major milestone in what has been a swift permitting process and enables NGEx to rapidly advance the Lunahuasi story, enabling underground evaluation and enhancement of the Company's geological understanding of this deposit.
Wojtek Wodzicki, President and CEO, commented, "We are very pleased to receive environmental approval for the Lunahuasi exploration adit. This decision by the San Juan Mining Authority supports our strategy of responsibly advancing Lunahuasi and underscores the strong working relationship we have developed with provincial authorities.
The ability to proceed with underground development is a crucial step that will allow us to directly access high?grade bulk material for metallurgical and engineering studies, provide access for year-round underground drilling, improve geologic definition, and position Lunahuasi for the next stage of advancement. This approval is also an important signal from San Juan and Argentina, reflecting their commitment to responsible mineral development and the economic opportunities that it brings."
Next Steps for Lunahuasi
With receipt of the DIA, the Company will now move forward with required preparatory work for the exploration adit, including detailed engineering, contractor selection, preparation of surface facilities, and other on?site readiness activities. Additional sectoral permits will continue to be progressed in coordination with provincial and national authorities. NGEx is targeting the fourth quarter of 2026 to start underground development subject to timely receipt of the remaining permits.
Underground access will provide the platform for definition drilling, metallurgical sampling, and geotechnical assessment - key inputs to future technical studies and project evaluation.
As preparations, plans and designs are finalized, the Company will obtain all final requisite internal approvals and secure additional insurance coverage for the underground development, as necessary.
Qualified Persons and Technical Notes
The scientific and technical disclosure included in this news release have been reviewed and approved by Bob Carmichael, B.A.Sc., P.Eng. who is the Qualified Person as defined by NI 43-101. Mr. Carmichael is Vice President, Exploration for the Company.
About NGEx Minerals
NGEx Minerals is a copper and gold exploration company based in Canada, focused on exploration of the Lunahuasi copper-gold-silver project in San Juan Province, Argentina, and the nearby Los Helados copper-gold project located approximately nine kilometres to the northeast in Chile's Region III. Both projects are located within the Vicuña District, which includes the Caserones mine, and the Josemaria and Filo del Sol deposits.
NGEx owns 100% of Lunahuasi and is the majority partner and operator for the Los Helados project, subject to a Joint Exploration Agreement with Nippon Caserones Resources LLC, which is the indirect 30% owner of the operating Caserones open pit copper mine located approximately 17 kilometres north of Los Helados. Lundin Mining Corporation holds the remaining 70% stake in Caserones.
The Company's common shares are listed on the TSX under the symbol "NGEX" and also trade on the OTCQX under the symbol "NGXXF". NGEx is part of the Lundin Group of Companies.
Additional information relating to NGEx may be obtained or viewed on SEDAR+ at www.sedarplus.ca.
Additional Information
Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this news release.
The information contained in this news release was accurate at the time of dissemination but may be superseded by subsequent news release(s). The Company is under no obligation, nor does it intend to update or revise the forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
Cautionary Note Regarding Forward-Looking Statements
Certain statements made and information contained herein in the news release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation (collectively, "forward-looking information"). All statements other than statements of historical facts included in this document constitute forward-looking information including, but not limited to, statements regarding: the geological interpretation of the Lunahuasi system including apparent correlations between drill holes and its ultimate size, strength, and grade distribution; the nature and timing of the work to be undertaken to advance the Lunahuasi project; the commencement date and duration of underground development with respect to an underground adit, if ultimately pursued; the anticipated future benefits of an underground adit, or its development, such as access to bulk material, optionality to undertake year-round drilling, and improved drilling efficiency; and that all remaining steps leading to the commencement of underground development will be successful, including preparatory work, receipt of requisite sectoral permits, and final requisite internal approvals. 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", "projects", "budgets", "assumes", "strategy", "objectives", "potential", "possible", "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", "should", "might" or "will be taken", "will occur" or "will be achieved" or the negative connotations thereof.
Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management with respect to the nature, scope and timing of the work to be undertaken to advance the Lunahuasi Project. Although the Company believes that these factors and expectations are reasonable as at the date of this document, in light of management's experience and perception of current conditions and expected developments, these statements are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown risks, uncertainties and other factors may cause actual results or events to differ materially from those anticipated in such forward-looking statements and undue reliance should not be placed on such statements and information. Such factors include, without limitation: the emergence or intensification of infectious diseases, such as COVID 19, and the risk that such an occurrence globally, or in the Company's operating jurisdictions and/or at its project sites in particular, could impact the Company's ability to carry out the program and could cause the program to be shut down; estimations of costs, and permitting time lines; ability to obtain environmental permits, surface rights and property interests in a timely manner; currency exchange rate fluctuations; requirements for additional capital; changes in the Company's share price; changes to government regulation of mining activities; environmental risks; unanticipated reclamation or remediation expenses; title disputes or claims; limitations on insurance coverage, fluctuations in the current price of and demand for commodities, particularly gold prices, as they are fluctuating currently due to market volatility; material adverse changes in general business, government and economic conditions in the Company's operating jurisdictions, particularly Argentina; the availability of financing if and when needed on reasonable terms; risks related to material labour disputes, accidents, or failure of plant or equipment; there may be other factors that cause results not to be as anticipated, estimated, or intended, including those set out in the Company's annual information form and annual management discussion and analysis for the year ended December 31, 2024, which are available on the Company's website and SEDAR+ at www.sedarplus.ca under the Company's profile.
The forward-looking information contained in this news release is based on information available to the Company as at the date of this news release. Except as required under applicable securities legislation, the Company does not undertake any obligation to publicly update and/or revise any of the forward-looking information included, whether as a result of additional information, future events and/or otherwise. 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. 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 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.
Cautionary Note to U.S. Readers
Information concerning the mineral properties of the Company contained in this news release has been prepared in accordance with the requirements of Canadian securities laws, which differ in material respects from the requirements of securities laws of the United States applicable to U.S. companies subject to the reporting and disclosure requirements of the United States Securities and Exchange Commission.
SOURCE NGEx Minerals Ltd.
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FAQ**
How will the environmental approval for the exploration adit at Lunahuasi impact the overall timeline for NGEx Minerals Ltd NGXXF in advancing the project?
What specific geological studies and engineering assessments are prioritized following the approval obtained by NGEx Minerals Ltd NGXXF for the Lunahuasi exploration adit?
Can you elaborate on the expected benefits of underground access at Lunahuasi that NGEx Minerals Ltd NGXXF anticipates as part of its development strategy?
What are the potential risks and challenges NGEx Minerals Ltd NGXXF faces in securing the remaining permits needed for the next development stage at Lunahuasi?
**MWN-AI FAQ is based on asking OpenAI questions about Ngex Minerals Ltd. (TSXVC: NGEX:CC).
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