NGEx Resources Inc. announced its intention to spin out its wholly owned Filodel Sol property into a wholly owned subsidiary of NGEx, Filo Mining Corp., through aPlan of Arrangement under the Canada Business Corporations Act. Lukas Lundin will become chairman of Filo Mining. The names of additional directors are expected to be announced in the near future.

The management team of company will consist of Wojtek Wodzicki as CEO, Joyce Ngo as Interim CFO, Bob Carmichael as VP Exploration and Julie Kemp as Corporate Secretary. Changes and additions to the management team will be made as needed and as the Filo del Sol Project progresses.