NGEx Announces $27 Million Private Placement

NGEx Announces $27 Million Private Placement

October 11, 2011

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 11, 2011) - NGEx Resources Inc. (TSX:NGQ) ("NGEx" or the "Company") reports that it intends to sell on a non-brokered, private placement basis, an aggregate of up to 9 million shares at a price of $3.00 per share for gross proceeds of $27 million.

The private placement is subject to regulatory approval. A finder's fee of 4% may be payable on all or a portion of the private placement. Shares issued pursuant to the private placement will be subject to a four month hold period.

On behalf of the board

Wojtek Wodzicki, President and CEO

NGEx Resources Inc.
Sophia Shane
Corporate Development
(604) 689-7842
(604) 689-4250 (FAX)
ngexresources@namdo.com
www.ngexresources.com

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