NGEx Minerals Ltd. reported initial drill results and an update on its ongoing drill program at the Valle Ancho copper-gold project in Catamarca Province, Argentina. Drill hole VADH001 which tested the Nordin Gold Target returned 150m at 1.05 g/t Au from surface. The entire intercept is in oxidized rock.

Drill hole VADH002 intersected 0.63 g/t Au over 198m from surface in oxidized rock, including a higher-grade interval of 0.90 g/t Au over 70m. Mineralization is associated with closely spaced quartz veinlets and is consistent with the style of mineralization seen in the nearby Maricunga District in Chile. A total of approximately 2,750 metres in 8 holes has been completed to date of the planned 3,000 metre Valle Ancho drill program and additional assay results are pending.

The Nordin target is an area of strong hydrothermal alteration and gold-bearing banded quartz veins and hydrothermal breccias surrounded by younger gravel cover and thin volcanic flows. The alteration is typical of the upper levels of an epithermal gold system and similar to that seen in some of the major deposits of the Maricunga Gold Belt located just across the border into Chile. Drill hole VADH001 returned 150m at 1.05 g/t Au from surface.

The entire intercept is in oxidized rock. VAD001 was drilled from the same collar and parallel to an historic shallow reverse circulation hole which reported 84m at 1.15 g/t Au, and extended the mineralization seen in that hole by 42 metres. Drill hole VADH002, collared 75m west of VADH001 and drilled in the other direction, intersected 0.63 g/t Au over 198m from surface in oxidized rock, including a higher-grade interval of 0.90 g/t Au over 70m.

This hole was a twin of an historic reverse-circulation hole which reported 1.02 g/t Au over 62m from surface, within a broader zone of 0.73 g/t Au over 110m, extending the mineralized zone by 88 metres. Mineralization in both holes is associated with closely spaced quartz veinlets and is consistent with the style of mineralization seen in the nearby Maricunga District in Chile. The historic RC drilling combined with surface sampling has outlined an area of 300m x 750m with oxidized gold mineralization occurring in drillholes and surface trenches.

The two diamond drill holes reported here confirm and extend the mineralization encountered in historic drilling, and provide strong evidence for the occurrence of a significant oxide gold zone at Nordin. Additional drilling is planned in order to establish the size and geometry of this mineralized system.