NGEx Resources Inc: NGEX ANNOUNCES INCREASE IN PRIVATE PLACEMENT TO CDN $12.5 MILLION

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES
December 15, 2017: NGEx Resources Inc. (TSX: NGQ) (Nasdaq Stockholm: NGQ)
("NGEx" or the "Company") is pleased to announce that due to strong demand, the
Company will increase the non-brokered, private placement announced on December
14, 2017 from Cdn $10 million to Cdn $12.5 million  The Company will now sell
an aggregate of up to 12.5 million common shares (the "Common Shares") at a
price of $1.00 per Common Share for gross proceeds of up to Cdn $12.5 million
(the "Private Placement"). 

A 5% finders' fee may be payable on a portion of the Private Placement.

The Common Shares will be offered by way of prospectus exemptions in Canada and
the Common Shares sold in the Private Placement will be subject to a hold
period of four months plus one day.  In connection with the Private Placement,
it is anticipated that shareholders who are currently insiders of the Company
intend to participate in the Private Placement. 

Completion of the Private Placement will be subject to regulatory approval,
including the approval of the Toronto Stock Exchange, and certain other
customary conditions including, but not limited to, execution of subscription
agreements between the Company and the subscribers. 

Net proceeds of the Private Placement will be used towards ongoing work
programs in Chile and Argentina as well as for general corporate purposes. 

The issuance of Common Shares to insiders constitutes a "related party
transaction", as defined under Multilateral Instrument 61-101 ("MI 61-101").
The transactions will be exempt from the formal valuation and minority
shareholder approval requirements of MI 61-101 as neither the fair market value
of any Common Shares issued to nor the consideration paid by such persons would
exceed 25% of the Company's market capitalization. 

This news release does not constitute an offer to sell or a solicitation of an
offer to buy the securities described herein in the U.S., or in any
jurisdiction in which such an offer or sale would be unlawful. The securities
described herein have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, or any U.S. state securities laws and may
not be offered or sold in the U.S. or to the account or benefit of a U.S.
person or a person in the U.S. absent registration or an applicable exemption
from the registration requirements. 

About NGEx

NGEx is a Canadian mineral exploration company with exploration projects in
Chile and Argentina. The Company's shares are listed on the TSX and on Nasdaq
Stockholm under the symbol "NGQ". The Company's focus is on advancing the
development of its two large copper-gold deposits, Los Helados and Josemaría,
located in Chile's Region III and adjacent San Juan Province, Argentina. The
Company owns a 100% interest in the Josemaria project and is the majority
partner and operator for the Los Helados project. Los Helados is subject to a
Joint Exploration Agreements with its joint exploration partner in Chile, Pan
Pacific Copper ("PPC"). 

Additional Information

This information is information that NGEx Resources Inc. is obliged to make
public pursuant to the EU Market Abuse Regulation and the Swedish Securities
Markets Act. The information was submitted for publication, through the agency
of the contact person set out below, on December 15, 2017 at 9:30 a.m. Pacific
Time. 

On behalf of the board

Wojtek Wodzicki,
President and CEO

For further information, please contact: Sophia Shane, Corporate Development
[phone]. 

Cautionary Note Regarding Forward-Looking Statements

Certain statements made and information contained herein in the press release
constitutes "forward-looking information" and "forward-looking statements"
within the meaning of applicable securities legislation (collectively,
"forward-looking information"). The forward-looking information contained in
this press release is based on information available to the Company as of the
date of this press release. Except as required under applicable securities
legislation, the Company does not intend, and does not assume any obligation,
to update this forward looking information. 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",
"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", "might" or "will be taken", "occur" or
"be achieved" or the negative connotations thereof. All statements other than
statements of historical fact may be forward-looking statements. In particular,
this press release contains forward-looking statements with respect to the
closing of the Private Placement, the insider participation in the Private
Placement, the use of proceeds from the Private Placement, the success of
future exploration activities; ability to build shareholder value through
discovery and resource development; and other risks and uncertainties. 

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. Forward-looking information is based on certain assumptions that
the Company believes are reasonable, including that any necessary approvals
will be obtained, the proceeds will be used as currently intended, the current
price of and demand for commodities will be sustained or will improve, the
supply of commodities will remain stable, that the general business and
economic conditions will not change in a material adverse manner, that
financing will be available if and when needed on reasonable terms and that the
Company will not experience any material labour dispute, accident, or failure
of plant or equipment. These factors are not, and should not be construed as
being, exhaustive. 

Forward-looking information is 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 information, including but not limited to:
risks and uncertainties relating to, among other things, among other things,
failure to receive required approvals, the possibility that investors will not
subscribe for the Private Placement and the risk that closing conditions may
not be satisfied as well as other risks and uncertainties more fully 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. 

The forward-looking information contained in this news release is made as of
the date of this news release. Except as required under applicable securities
legislation, the Company does not intend, and does not assume any obligation,
to update this forward-looking information. 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 of 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.

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