NGEx Intersects 1.06% Copper Equivalent Over 304 Metres at Los Helados Copper-Gold Porphyry Project, Chile

NGEx Intersects 1.06% Copper Equivalent Over 304 Metres at Los Helados Copper-Gold Porphyry Project, Chile 
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/23/13 -- NGEx
Resources Inc. (TSX:NGQ) ("NGEx" or the "Company") is pleased to
announce assay results from six new holes and four extensions of
previous drill holes from the Los Helados deposit. The 2012/2013
drill program was completed on March 28, 2013. A total of 32,707
metres was drilled during the season, with 25 new holes completed and
7 existing holes deepened. Results from the initial ten holes were
released on January 31, 2013. Assays from the next ten holes are
disclosed today and assays are pending for the remaining twelve drill
holes. The holes included here are a combination of infill holes
(Inferred to Indicated Resource conversion) and step-out holes
(expansion of Inferred Resource). Please see attached maps:
http://media3.marketwire.com/docs/NGQ0423.pdf  
Highlights from the results reported today include: LHDH21 (extension
of previously reported hole) with 1,286 metres of 0.58% CuEq (0.46%
copper, 0.18 g/t gold) including 304 metres of 0.77% CuEq (0.63%
copper, 0.20 g/t gold) and; LHDH55 with 886 metres of 0.68% CuEq
(0.55% Cu, 0.19 g/t gold) including 304 metres of 1.06% CuEq (0.86%
copper; 0.29 g/t gold).  
Wojtek Wodzicki, President and CEO of the Company, commented, "This
season's drill program included a combination of infill holes
designed to convert the existing Inferred Resources to Indicated and
step out drilling designed to test areas outside the existing
resource boundary. The infill drilling increased the drill hole
density in areas currently classified as Inferred, and has helped to
confirm the geological model and grade distribution. Step out
drilling was successful in intersecting mineralization beyond the
current resource boundary. Drilling from this season's program will
contribute to the resource update expected to be completed in the
third quarter. The mineralization remains open to the north and at
depth." 
Intersections from the 10 holes released today are given below.  


 
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                     From        To    Length                             
HOLE-ID                (m)       (m)       (m)    Cu %    Au g/t    CuEq(i)
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LHDH14               94.0    1352.0    1258.0     0.33      0.11      0.40
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         incl.      522.0    1250.0     728.0     0.41      0.12      0.50
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2013 extension      714.0    1384.6     670.6     0.38      0.11      0.46
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LHDH21               16.0    1302.0    1286.0     0.46      0.18      0.58
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         incl.       16.0      82.0      66.0     0.41      0.59      0.81
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     and incl.      210.0     418.0     208.0     0.60      0.23      0.76
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     and incl.      476.0     602.0     126.0     0.61      0.18      0.73
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     and incl.      760.0    1064.0     304.0     0.63      0.20      0.77
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         incl.      760.0     900.0     140.0     0.86      0.30      1.07
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          plus     1486.0    1507.1      21.1     0.28      0.05      0.32
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2013 extension      750.0    1507.1     757.1     0.37      0.11      0.45
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LHDH37              778.0    1206.5     428.5     0.22      0.11      0.30
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         incl.     1074.0    1206.5     132.5     0.31      0.21      0.45
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2013 extension      828.0    1206.5     378.5     0.22      0.10      0.29
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LHDH46               10.0    1247.2    1237.2     0.39      0.14      0.48
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         incl.      686.0     850.0     164.0     0.62      0.15      0.72
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     and incl.      996.0    1136.0     140.0     0.44      0.06      0.48
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2013 extension      764.0    1247.2     483.2     0.44      0.08      0.49
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LHDH55              288.0    1174.0     886.0     0.55      0.19      0.68
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         incl.      654.0     958.0     304.0     0.86      0.29      1.06
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          plus     1232.0    1291.8      59.8     0.20      0.05      0.24
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LHDH56              426.0    1090.0     664.0     0.37      0.14      0.47
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         incl.      700.0     910.0     210.0     0.53      0.20      0.67
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         incl.      834.0     880.0      46.0     0.79      0.33      1.01
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          plus     1162.0    1178.0      16.0     0.32      0.05      0.35
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LHDH57                 No Significant Values                              
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LHDH58              208.0    1010.0     802.0     0.35      0.21      0.49
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          plus     1040.0    1064.0      24.0     0.23      0.08      0.28
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          plus     1168.0    1180.0      12.0     0.22      0.15      0.32
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LHDH64                 No Significant Values                              
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LHDH68              488.0    1236.1     748.1     0.26      0.07      0.30
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(i) Drillholes were typically composited based on a 0.3% CuEq cutoff. CuEq -
Copper Equivalent calculated using US$3.00/lb copper and US$1,400/oz gold,  
with no provision for metallurgical recoveries. Los Helados is a porphyry   
deposit, characterized by a large volume of relatively homogeneous          
mineralization and drilled lengths are interpreted to be representative of  
the true width of the mineralized zone.                                     

 
LHDH14 was stopped in moderate-grade mineralization in the
northeastern part of the deposit at a depth of 714 metres during the
2010/2011 drill program due to drill rig capacity. It was extended to
1,385 metres during the current program in order to test the breccia
at depth. The hole encountered moderate grade in the breccia and
ended in a lower grade late dyke. 
LHDH21 was stopped in high-grade mineralization in the central part
of the deposit at a depth of 750 metres during the 2010/2011 drill
program due to drill rig capacity. It was deepened to 1,507 metres
and is currently the deepest hole drilled into the deposit. It was
successful in extending the mineralization to depth, ending in weakly
mineralized breccia.  
LHDH37 was drilled to a depth of 828 metres in the 2011/2012 season,
and was deepened to 1,207 metres in order to test for an extension to
the high-grade mineralization in the bottom of LHDH34. The hole was
stopped due to technical problems in high-grade breccia with
similarities to the high-grade breccia in LHDH34. The last 17 metres
of the hole averaged 0.52% copper. 
LHDH46 was drilled to a depth of 768 metres at the end of the
2011/2012 season when it was suspended due to the onset of winter. It
was completed to a depth of 1,247 metres during the current program.
It is on the same section as LHDH34, 200 metres to the east. This
hole continued in well-mineralized granite to 905 metres and then
crossed into and ended in mineralized breccia.  
LHDH55 was drilled across the main breccia body from north towards
the south, parallel to and 214 metres to the east of LHDH50. The
purpose of this hole was to evaluate the possibility of a directional
bias in the assay information, since almost all the holes to date
have been drilled on east-west sections. This hole demonstrates the
high-grade nature of the core of the deposit and is consistent with
the east-west holes indicating no bias due to drill hole direction. 
LHDH56 was drilled to a depth of 1,181 metres on line 4800N to test
the southern extension of the high-grade mineralization intersected
in LHDH28. This hole continued in altered and mineralized granite to
a depth of 862 metres where it crossed into mineralized breccia to
the end of the hole.  
LHDH57 was drilled towards the south from the southern edge of the
known deposit in order to explore beneath the intensely altered
southern slope of the Los Helados basin. The hole was drilled to a
depth of 798 metres and ended in weakly mineralized granite.  
LHDH58 was drilled to a depth of 1,326 metres on line 4600N to extend
the mineralization encountered in holes LHDH34 and LHDH46 by 100m to
the south. The hole cored altered and mineralized granite to a depth
of 997 metres where it crossed into weakly mineralized breccia to the
end of hole.  
LHDH64 was drilled on line 5100N to the west of the deposit area in
order to explore the high IP chargeability anomaly in this area. The
hole encountered altered and pyritic granite peripheral to the Los
Helados deposit, explaining the IP anomaly but yielding no
significant values. 
Collar coordinates and drill hole orientations for the holes in this
news release are shown below: 


 
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HOLE-ID        LOCATIONX   LOCATIONY   LOCATIONZ   LENGTH  AZIMUTH     DIP
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LHDH14            442999     6865110        4470   1384.6      270     -80
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LHDH21            442530     6864904        4527   1507.1      270     -75
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LHDH37            441801     6864703        4681   1206.5        0     -90
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LHDH46            442357     6864694        4625   1247.2      270     -75
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LHDH55            442598     6865296        4493   1291.8      180     -60
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LHDH57            442600     6864500        4727    797.8      180     -60
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LHDH58            442050     6864600        4606   1326.1       90     -75
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LHDH56            441900     6864800        4603   1180.6       90     -82
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LHDH68            443350     6865436        4483   1236.1      270     -75
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LHDH64            441700     6865063        4670    518.3      270     -60
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Update on other Projects 
During the 2012/2013 field season the Company also drilled the
Josemaria Project located approximately 12 kilometers to the
southeast of Los Helados completing a total of 8,242 meters in 18
diamond drill holes. Drilling at Josemaria focused on extending the
current resource to the north. Initial results released on March 25,
2013 extended a previously intersected zone of supergene enriched
high grade mineralization approximately 100 metres to the north. The
results of the remaining drill holes are pending. In addition, the
Company completed four drill holes totaling 829 meters at the Filo
del Sol Project. Results from Filo del Sol are pending. The objective
of the Filo del Sol program was to extend a zone of high grade copper
and silver mineralization identified in previous drilling. The Filo
del Sol program was curtailed after 5 holes due to poor ground
conditions preventing drill holes from being completed to the target
depths. Alternate drilling methods will be evaluated over the winter
prior to a more extensive drill program planned for next season.  
About NGEX 
NGEX is a Canadian mineral exploration company with exploration
projects in Chile, Argentina, and Canada. The Company's shares are
listed on the Toronto Stock Exchange under the symbol "NGQ". The
Company's focus is on advancing its Vicuna Project which includes
several large copper-gold systems including the Josemaria, Los
Helados, and Filo del Sol projects, located on a contiguous land
package that the Company holds in Chile's Region III and adjacent San
Juan Province, Argentina. Los Helados and Filo del Sol are part of a
joint venture in which the Company holds 60% and Pan Pacific Copper
Corporation holds 40%. Josemaria is part of a joint venture in which
the Company holds 60% and Japan Oil, Gas, and Metals National
Corporation (JOGMEC) owns 40%. In addition to the Vicuna Project the
Company holds an extensive portfolio of 100% owned early stage
exploration projects located in Chile and Argentina. It also owns a
100% interest in the GJ copper and gold project located in British
Columbia Canada. The GJ project is optioned to Teck Resources who are
earning up to a 75% interest. 
On behalf of the board 
Wojtek Wodzicki, President and CEO 
Qualified Person and Assay Methods 
The drill core was logged, sawed, and half cores were sampled in
their entirety in two meter intervals at the Company's core
processing facility located in Copiap , Chile. Samples were shipped
to Acme Analytical Laboratories sample preparation facility also in
Copiap , and pulps were forwarded to the Acme lab in Santiago, Chile.
Samples were crushed, split and 500g was pulverized to 85% passing
200 mesh. Gold analyses were by fire assay fusion with AAS finish on
a 30g sample. Copper was analyzed by AAS using a 4 acid digestion and
samples were also analyzed for a suite of 36 elements with ICP-ES.
Copper and gold standards as well as blanks and duplicates (field,
preparation and analysis) were randomly inserted into the sampling
sequence for Quality Control. On average, 9% of the submitted samples
correspond to Quality Control samples.  
Mr. Bob Carmichael, B.A.Sc, P.Eng., is the Qualified Person as
defined by National Instrument 43-101. Mr. Carmichael is Vice
President, Exploration for the Company and has reviewed and approved
the technical information contained in this news release. The Quality
Control/Quality Assurance (QA/QC) program on Los Helados Project is
under the management of Diego Charchaflie MSc., P.Geo (BC), a
Qualified Person pursuant to NI 43-101. 
Cautionary Note Regarding Forward-Looking Statements 
This news release contains "forward-looking statements" within the
meaning of applicable Canadian securities legislation, concerning the
business, operations and financial performance and condition of NGEx
Resources Inc. Forward-looking statements include, but are not
limited to, statements with respect to the estimation of commodity
prices, mineral reserves and resources, the realization of mineral
reserve estimates, capital expenditures, costs and timing of the
development of new deposits, the success of exploration activities,
permitting time lines, currency exchange rate fluctuations,
requirements for additional capital, government regulation of mining
activities, environmental risks, unanticipated reclamation expenses,
title disputes or claims and limitations on insurance coverage.
Generally, these forward-looking statements can be identified by the
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 state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved" or the negative
connotations thereof. All such forward-looking statements are based
on the opinions and estimates of the relevant management as of the
date such statements are made and are subject to important risk
factors and uncertainties, many of which are beyond the Company's
ability to control or predict. 
Forward-looking statements are 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 statements, including but not limited to: risks and
uncertainties relating to, among other things, changes in commodity
prices, currency fluctuation, financing, unanticipated reserve and
resource grades, infrastructure, results of exploration activities,
cost overruns, availability of materials and equipment, timeliness of
government approvals, taxation, political risk and related economic
risk and unanticipated environmental impact on operations as well as
other risks and uncertainties described under "Risks Factors" in the
Company's Annual Information Form available under the Company's
profile at www.sedar.com and the Company's website. 
Although the Company has attempted to identify important factors that
would cause actual results to differ materially from those contained
in forward-looking statements, 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 statements
contained in this document are qualified by these cautionary
statements. Readers should not place undue reliance on
forward-looking statements. Forward-looking statements are provided
for the purpose of providing information about management's current
expectations and plans and allowing investors and other to get a
better understanding of the Company's operating environment. The
Company expressly disclaims any intention or obligation to update or
revise any forward-looking statements whether as a result of new
information, events or otherwise, except in accordance with
applicable securities laws. 
Contacts:
NGEx Resources Inc.
Sophia Shane
Corporate Development
(604) 689-7842
(604) 689-4250 (FAX)
ngexresources@namdo.com
www.ngexresources.com
 
 
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