NGEX Slide Deck

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November, 2011


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Cautionary StatementsThis document contains statements about expected or anticipated future events and financial and exploration results that are forward-looking in nature and involve risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the foregoing include: risks and uncertainties inherent in exploration activities, legal and political risk arising from operating in certain developing countries, civil unrest, general economic, market and business conditions, the regulatory process and actions, failure to obtain necessary permits and approvals, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events and managements capacity to execute and implement its future plans. Although NGEX believes that the assumptions inherent in the forward looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this presentation. Actual results may differ materially from those projected by management. NGEX does not undertake any obligation to publicly update or revise any forward looking information after the date of this presentation to conform such information to actual results or to changes in

NGEXs expectations except as otherwise required by applicable legislation.

This document may use the terms Measured, Indicated, and Inferred Resources as these terms are defined under Canadas NI 43-101. U.S. investors are advised that, while such terms are recognized and required by Canadian regulations, the Securities and Exchange Commission does not recognize them.Inferred Resources have a great amount of uncertainty as to their existence, and great uncertainty as to their economic feasibility. It cannot be assumed that all or any part of an Inferred Resource will ever be

upgraded to a higher category. Under Canadian rules, estimates of Inferred Resources may not form the basis of feasibility or other economic studies. Resource and reserve references to other companies have been sourced from websites and other public information and may not be accurate. 2


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Summary Unique exposure to the worlds best copper belt-Chile Significant exposure to gold Backed by the business and financial resources of the Lundin Group- one of

the most successful investors in South American exploration

Strong performance over last year with good upside to be driven byresource addition and exploration results

Symbol NGQ TSX

Shares outstanding million

Fully diluted million

52 week high/low $4.00/$0.60

Market Capitalization $ million

Cash $ million3


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Our NicheFocus on:Focus on: Projects where value can be added through exploration Resource stage drill projects In demand commodities and deposit types

co er/ old/ otash

Jurisdictions where we have a competitive advantage Timely divestment

Senior Co

NGExGeologist

Value added

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Unique Exposure to Chile: the Saudi Arabia of Copper 35% of world copper production The worlds biggest reserves

best copper mines in the world The worlds top mining investment

jurisdiction Premium valuations Mining and exploration dominated

by majors NGEX is one of a very few

vehicles providing concentratedexposure to Chiles explorationpotential


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Vicuna Project- An Emerging Deposit Cluster Regional mapRegional map Regional alterationRegional alteration

Los HeladosLos Helados

Filo del SolFilo del Sol

JosemariaJosemaria



JosemariaJosemaria


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Los Helados, ChileLarge copper-gold porphyry systemAt least 1000m by 700 m by 450 m

701m @ 0.67 % Cu, 0.3 g/t AuIncluding 32m @ 1.1% Cu, 0.5 g/t Au

Many drill holes bottom in ~0.9% copper

Deepest drill holes still inmineralization at +900m

Higher grade zone at least500m by 600 m.

Open to west, north, and at depth

60% NGEX/ 40% JOGMEC

Drilling to restart January, 2012Targeting resource by Sept. 2012 7


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Los Helados Section


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Josemaria, ArgentinaResource

Cover

Large copper-gold resource with potentialto grow; 4.4 M ounces gold

NGEX 60% / JOGMEC 40%

Higher grade coreFavorable topography, projected low strip

Drilling to restart November, 2011

9Targeting M&I Resource by Sept, 2012


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Filo del SolLarge high-sulphidation goldsystem. JOGMEC JV

Overprinted on deeper porphyrycopper; oxide copper to south

Very large alteration zone withlimited testing

Drilling Jan, 2012

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Vicuna- 3 Big systems + exploration upside

Regional mapRegional map Regional alteration

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Filo del Sol



JosemariaJosemaria


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South America +

Canada JV Partner copper-gold porphyry

Eritreacopper/zinc VMSPotash

Focus Chile, Argentinacopper-gold porphyry

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Strong Project Pipeline


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Colmillos copper project, Chile

4,000m tourmalinebreccia trend

Strong porphyry stylealteration

Evidence of leaching

Strong Mo and Cugeochem 14


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GJ Copper-Gold Project, BCOptioned to Teck- $44M to earn 75%

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Catalysts and value drivers 2011-2012Q3 Q4 Q1 Q2

Exploration Results

Continued good drill results from Los Helados

Infill drilling at Josemaria

Positive drill results at Filo del Sol

Results from Tecks GJ exploration

Potash intercepts in Eritrea?

Realize value for Hambok?

*The above is speculation about possible future drivers of the value of the NGEX. There is no guarantee that any of the above events will occur on schedule or at all 18


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Investment case

Unique exposure to resource stage copper-gold projects in Chile Additional value potential in African and Canadian portfolio

Potash in Eritrea VMS in Bisha Mining District, Eritrea GJ copper-gold project in Canada

Near resource stage or semi brownfields exploration= lower risk Disciplined and experienced management and board with a strong record

of value creation. Value will be realized Strong upside from combination of high quality projects with Lundin

Group financial and business expertise

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Thank You!

For more information please contact:

Wojtek Wodzicki, President and [email protected]

orSophia Shane

[email protected]

Check our websitewww.ngexresources.com


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Strong Resource Base with Growth Potential

Project TMm Cu % Cu lbs Zn % Zn lbs Au g/t Au oz Ag g/t Ag oz

NGEX NI 43-101 Resources

HambokM&I

10.7 0.98 231.2 2.25 530.7 0.2 68,801 6.84 2.3

HambokInferred

17 0.85 318.6 1.74 652.1 0.19 103,845 5.89 3.2

GJ

M&I

69.1 0.29 442 0.34 764,562

GJInferred

23 0.26 131.8 0.31 229,230

JosemariaInferred

460 0.39 3,955 0.30 4,436,700

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Los Helados- 2011 Drill Results

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2009Eritrea

Canada

Congo

Burkina

Chile

Argentina

ColombiaPeruMexico

History

Chile-ArgentinaEritrea

Divestments

Mexico- $16M Burkina- $1M

GJ- Farm-out; 75% for $44M 2011 24


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Board of DirectorsBreadth and Experience

Chair: Lukas Lundin International natural resource financier and entrepreneur

Bill Rand Director of several Lundin Group Companies Corporate adviser to natural resource companies

Paul Conibear President and CEO, Lundin Mining

Former CEO of Tenke Mining David Mullen

CEO & Head of HSBC Private Equity North America

Wojtek Wodzicki President and CEO, NGEX Resources

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The Lundin Group-Combined value >$14BOil Exploration Oil Production

Mining Exploration Mining Production

Other

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