06:54 AM EDT, 03/20/2026 (MT Newswires) -- NGEx Minerals ( NGXXF ) overnight Thursday reported a widened net loss for the fourth quarter when it was focused on both the spin out of an 80.1% ownership interest in LunR Royalties Corp. ( LNRCF ) to its shareholders and a drilling program at Lunahuasi.

For Q4, NGEX reported a net loss of $38.144 million or $0.18 versus a net loss of $26.427 million or $0.13 a year earlier.

Highlights for the three months and year ended December 31, 2025, and subsequent period, include the following: an 8-rig drill program is underway at Lunahuasi, following multiple new discoveries made during Phase 3 program completed earlier in the year; and an environmental approval was received for a proposed Lunahuasi exploration adit.

Also, treasury was strengthened with an oversubscribed $175 million private placement; and on October 23, 2025, the company closed its spin-out of an 80.1% ownership interest in LunR Royalties Corp. ( LNRCF ) to its shareholders.

Wojtek Wodzicki, President and CEO, commented, "We continue to build on NGEx and its predecessor companies' track record of value creation, going from strength to strength in 2025. The spin-out of LunR to shareholders has had a tremendous reception in the market, and our foresight in retaining a significant interest in the Lundin Group's debut royalty vehicle gives NGEx shareholders continued exposure to LunR's success, while also affording the Company with a liquid, valuable and non-dilutive financing tool for the future.

"In addition, we have also continued to deliver on our core business of exploration in the rapidly-evolving Vicuna district. Following a successful Phase 3 program at Lunahuasi completed in May 2025 that identified two new styles of mineralization and significantly expanded the footprint of the deposit, Phase 4 drilling has now completed over 22,000 metres to date with results confirming the deposit's unique combination of size and grade. With an approved DIA now received for the proposed exploration adit and a strong treasury balance, we are looking forward to successfully closing out the Phase 4 program and have already begun looking ahead to the next phase as we continue to advance exploration at this remarkable deposit."

Shares in NGEX lost 5.25% in Canada yesterday.