NGEx Resources Inc. (NGEx) announced to spin out its Los Helados Project and exploration portfolio into a wholly-owned subsidiary of the company, 11264796 Canada Inc. through a Plan of Arrangement. Upon completion of the Arrangement, the composition of the NGEx Board will be reconstituted. Specifically, it is anticipated that: William A. Rand, David F. Mullen and Cheri L. Pedersen will resign as directors of the NGEx, and the Board will appoint C. Ashley Heppenstall, Paul Conibear and Christina Batruch to fill the vacancies created by these resignations.