GoldMinerPulse Report on NGEx Resources Inc.: (NI) 43-101 Metal Valuation Report

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NGEx Resources Inc. (NGQ)

Company Web Site: www.ngexresources.com

This report is based on NI 43-101 disclosures and fully diluted share counts available on: 2009-09-24. Metrics have been updated with stock price and metal prices in effect at the close of Canadian markets on 2010-09-02.

External Links: Yahoo News and Quotes  |  MB  |  StockCharts  |  StockHouse

GoldMinerPulse Most Optimistic Resource Estimate Summary (MORE):
Metrics last with prices in effect at the TSX/TSXV close on 2010-09-02

Project/Deposit CC MVpSh  PP%  MI%  I% GoldSilverCopperZinc
    GJ Kinaskan DonnellyCA$70.59073%27%2.97 M oz    2.83 M oz    747.45 K t         
    Hambok??$24.97043%57%172.65 K oz    5.57 M oz    249.36 K t    536.55 K t    
    AsseanCA$0.00000                    
 
GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Sept-02
Metric / MetalGoldSilverCopperZinc
    Metal Totals3.14 M oz    8.40 M oz    996.81 K t    536.55 K t    
    Metal Prices in US$ (from 2010-09-02)$1,251.30 per oz    $19.69 per oz    $3.46130 per lb    $0.94810 per lb    
    Metal Value per Share (MVpSh)
(Shown in US$ and based on fully diluted share count shown below)
$29.27    $1.23    $56.70    $8.36    
    Percentage of Total Metal Value30.63%    1.29%    59.33%    8.75%    
    PP% | MI% | I%0 | 71% | 29%    0 | 28% | 72%    0 | 66% | 34%    0 | 45% | 55%    
 
GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Sept-02
    Metal Value per Share (MVpSh)   US$95.56
    Average Ore Value per Tonne   US$31.69
    Metal Value Leverage (MVL)    154.88
    Market Capitalization as % of Metal Value   0.6%
    Recent Stock Price   C$0.65   (TSX/TSXV close on 2010-09-02.)
  Conversion rate used: 1 Cnd$ = 0.949244 US$ )
    Fully Diluted Share Count   134.16 M    ( Fully diluted share count taken from NGEX Resources Inc., Investor Information web page (viewed September 2009) )
    PP% | MI% | I%   0 | 65% | 35%
Gold Metrics-- all Projects/Deposits
    Average Gold Ore Grade   0.241 g/t
    Market Capitalization
    per oz of Gold In Ground
   $26.38   US$  |   27.79   C$
    Gold Eq Oz Estimate   10.25 M oz   ( 3.14 M oz are in ground)
    Market Capitalization
    per oz of Gold Equilavent
   $8.08   US$  |   8.51   C$
 
See terms for more about GoldMinerPulse metrics.

Additional Notes:

Other Properties    -   Other company projects are taken from a January 2008 corporate presentation and the company web site (October 2008).

  • Caballo Blanco, Veracruz State, Mexico -- option agreement with Almaden Minerals Ltd. to acquire a 70% interest
  • Zymo, British Columbia, Canada -- optioned from Eastfield Resources Ltd. (ETF-TSXV) to earn up to a 75% interest
  • Bob Creek, British Columbia, Canada
  • Manson Creek, British Columbia, Canada
 

GoldMinerPulse Coverage Status:

  • GoldMinerPulse coverage of NGEx Resources Inc. is complete pending a final internal review.


Assean    -  ^top^

(NI) 43-101 Report:

Title: GEOLOGICAL REPORT on the ASSEAN LAKE GOLD PROPERTY MANITOBA, CANADA
Date: 2005-06-20 (65 pages)

Project Location: Manitoba, Canada

Map View: View Google Map.


GJ Kinaskan Donnelly    -  ^top^

(NI) 43-101 Report:

Title: TECHNICAL REPORT ON THE GJ COPPER-GOLD PORPHYRY PROJECT LIARD MINING DIVISION BRITISH COLUMBIA, CANADA
Date: 2007-04-30 (134 pages)

Project Location: British Columbia, Canada

Map View: View Google Map.

Most Optimistic Resource Estimates (MORE):

   •Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$20.01    2.15 M oz     0.262 g/t     254.74 M t    
   Copper$31.73    557.88 K t       2,190.000 g/t     254.74 M t    
Estimate notes: See NI 43-101 p. 10 of 134, Table 1 Summary of Giroux estimates
0.05 % Cu Cut-off
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$3.07    329.35 K oz     0.210 g/t     48.78 M t    
   Copper$4.86    85.37 K t       1,750.000 g/t     48.78 M t    
Estimate notes: "See NI 43-101 p. 10 of 134, Table 1 Summary of Giroux estimates";
0.05 % Cu Cut-off
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$4.58    490.72 K oz     0.208 g/t     73.38 M t    
   Silver$0.42    2.83 M oz     1.200 g/t     73.38 M t    
   Copper$5.93    104.20 K t       1,420.000 g/t     73.38 M t    
Estimate notes: See NI 43-101 p. 11 of 134, Table 3 for GJ Kinaskan Donnelly North;
0.05 % Cu Cut-off


Hambok    -  ^top^

(NI) 43-101 Report:

Title: Hambok Deposit, Mogoraib Exploration License, Gash-Barka District, Western Eritrea 43-101 Technical Report and Preliminary Resource Assessment
Date: 2009-01-23 (102 pages)

Project Location: Western Eritrea, Eritrea

Map View: View the Hambok deposit on a Google Map.

Most Optimistic Resource Estimates (MORE):

   •Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$0.64    68.80 K oz     0.200 g/t     10.70 M t    
   Silver$0.35    2.35 M oz     6.840 g/t     10.70 M t    
   Copper$5.96    104.86 K t       9,800.000 g/t     10.70 M t    
   Zinc$3.75    240.75 K t       22,500.000 g/t     10.70 M t    
Estimate notes: See Table 19: Indicated Resource within the Mineralized Shell on p. 76 of 102 in the NI 43-101 dated January 2009.
Cutoff 0.75 %Zn
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$0.97    103.85 K oz     0.190 g/t     17.00 M t    
   Silver$0.47    3.22 M oz     5.890 g/t     17.00 M t    
   Copper$8.22    144.50 K t       8,500.000 g/t     17.00 M t    
   Zinc$4.61    295.80 K t       17,400.000 g/t     17.00 M t    
Estimate notes: See Table 20: Inferred Resource within the Mineralized Shell on p. 76 of 102 in the NI 43-101 dated January 2009.
Cutoff 0.75% Zn

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