NGEx Resources Inc. announced that it proposed spin-out of the company's wholly owned Filo del Sol property into a wholly owned subsidiary of NGEx, Filo Mining Corp., through a Plan of Arrangement under the Canada Business Corporations Act. The new Filo Mining Board will consist of Mr. Lukas Lundin, Mr. Ashley Heppenstall, Mr. Paul McRae, Mr. Alessandro Bitelli, and Mr. Wojtek Wodzicki. Circular.