NGEx Resources Inc. and NGEx Minerals Ltd. announced that the previously announced spin-out of the company's Los Helados property and certain other exploration properties into a wholly-owned subsidiary of NGEx, NGEx Minerals by a plan of Arrangement under the Canada Business Corporations Act has been completed. As previously announced, the NGEx board of directors has also been reconstituted effective as of the date of the Arrangement, whereby: William A. Rand, David F. Mullen and Cheri L. Pedersen have resigned as directors of the NGEx, and the NGEx board has appointed C. Ashley Heppenstall, Paul Conibear and Christina Batruch to fill the vacancies created by these resignations; the NGEx board has, pursuant to Section 4.06 of the Company's By-Laws (which permits the NGEx board to appoint one or more additional directors), appointed two additional directors, being Adam Lundin and Pablo Mir Balmaceda.