NGEx Announces Proposed Spin-Out of Filo del Sol Project

June 13, 2016

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VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 13, 2016) – NGEx Resources Inc. (TSX:NGQ)(OMX:NGQ) (“NGEx” or the “Company”) is pleased to announce its intention to spin out its wholly owned Filo del Sol property (the “Filo del Sol Project”) into a wholly owned subsidiary of NGEx, Filo Mining Corp. (“Filo Mining”), through a Plan of Arrangement under the Canada Business Corporations Act (the “Arrangement”). The Arrangement is designed to deliver greater value to shareholders by unlocking the value of the Filo del Sol Project and the Company believes that it will also minimize dilution of the Constellation Project. The Filo del Sol Project is a silver-copper-gold deposit that straddles the international border between San Juan Province, Argentina and Region III, Chile and is comprised of adjacent mineral titles in Chile and Argentina which are 100% controlled by the Company through direct ownership or option agreements.

Category: General