A geologist walking the red volcanic plateau of the Luna Roja project under a wide Patagonian sky

A confirmed gold-silver system in Argentina's prolific Deseado Massif.

Lunex Metals' 2026 drill program at Luna Roja, in Santa Cruz, Argentina, confirmed and extended a mineralized corridor to ~2.8 km, as pro-mining reforms bring the country back as a leading exploration jurisdiction.

  • Permitted
  • Drilled
  • TSXV conditional approval
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At a glance

The 2026 drill program, in numbers

~2.8 kmmineralized corridor along the Vía Láctea structure
2,517.5 mdrilled in 16 diamond holes in the first half of 2026
10,000 hain three contiguous mineral tenements
3targets drilled: Cruz del Sur, Orión and Estrella del Norte
Conditional approval to list on the TSX Venture ExchangeReceived October 1, 2026, under the symbol LUNX. See investor information.

Why Lunex

A reopened jurisdiction, a prolific belt, a local team

Pro-mining reforms are driving Argentina’s re-emergence as a leading jurisdiction for mineral exploration. Luna Roja sits in the Deseado Massif, and the team behind it has worked there for over 15 years.

Read why

The Luna Roja plateau under a wide Patagonian sky

The Luna Roja project

Drilled, confirmed, and open to the north

Sixteen diamond holes and 2,517.5 m along the Vía Láctea corridor intersected gold-silver mineralization at Cruz del Sur and confirmed a new mineralized center at Estrella del Norte.

Explore the project

Aerial view of the Luna Roja property with a field vehicle on the plateau

The team

Built on the ground in Argentina, backed by capital markets

Lunex Metals has assembled a team positioned for exploration success in Argentina, blending discovery experience in the Deseado Massif with a track record of building listed companies.

Meet the team

Field team and vehicle on the open Patagonian steppe

Latest news

Follow the progress

Final tranche of subscription receipt financing closed

Lunex Finance closed the fourth and final tranche and Lunex issued 1,018,519 option shares to Magna Terra Minerals.

Read the release →

Third tranche of subscription receipt financing closed

Lunex Finance issued 905,260 subscription receipts at C$0.27 for gross proceeds of approximately C$244,420.

Read the release →

Conditional approval to list on the TSX Venture Exchange

Lunex received conditional approval to list its common shares on the TSXV under the symbol LUNX.

Read the release →
All news releases Investor information

Why Luna Roja

Three reasons to look closely

01 · The jurisdiction

Argentina is open again

Pro-mining reforms and vast geological potential are driving Argentina's re-emergence as a leading jurisdiction for mineral exploration.

02 · The asset

A prolific gold-silver province

Luna Roja sits in the Deseado Massif, a >60,000 km² area in southern Argentina and one of the most prolific and productive precious-metal belts in the world, having yielded more than 600 million ounces of silver and 20 million ounces of gold since the 1990s.

03 · The team

Local ground, global capital

Over 15 years of on-the-ground experience in Argentina, combined with deep capital markets expertise across Canada, the U.S. and Latin America.

Why now

Jurisdictions rarely reopen. When they do, prepared projects move first.

Since 2023, Argentina has moved fast on mining reform: lower export taxes, streamlined regulation and a simplified licensing process under the Incentive Regime for Large Investments (RIGI). Luna Roja already has its environmental approval, a completed first drill program and a district of untested targets.

Tax incentives

Lower export and corporate taxes, with deductions for reinvestment.

Regulatory stability

Stable rules for projects and no surprise tax imposition.

Profit repatriation

Efficient transfer of earnings out of Argentina.

Lunex MetalsNext: Luna Roja

The Luna Roja project

Drilled, confirmed, and open to the north

A gold-silver project in Santa Cruz Province, about 30 km north-northwest of the Las Calandrias mining district.

2026 drill program complete: 16 holes, 2,517.5 mResults released July 2 and July 8, 2026. On October 1, 2026, Lunex received conditional approval to list on the TSX Venture Exchange under the symbol LUNX.

What the 2026 drilling found

24.6 m@ 0.96 g/t Au

LR_DDH13: 24.6 m @ 0.96 g/t Au and 1.51 g/t Ag, including 9.1 m @ 2.16 g/t Au and 2.53 g/t Ag.

23.1 m@ 0.36 g/t Au

LR_DDH14: 23.1 m @ 0.36 g/t Au and 61.76 g/t Ag, including 2.0 m @ 1.15 g/t Au and 465.00 g/t Ag.

57.0 m@ 0.26 g/t Au

LR_DDH12: 57.0 m @ 0.26 g/t Au and 2.03 g/t Ag, including 27.0 m @ 0.39 g/t Au and 1.29 g/t Ag.

2ndcenter

A new mineralized center confirmed at Estrella del Norte, more than 2 km north of Cruz del Sur, where mineralization remains open to the north.

All three holes at Cruz del Sur. Source: Table 2, news release dated July 2, 2026. Intercepts are downhole lengths. True widths are not yet estimated.

Read the NI 43-101 Technical Report

Project status in Santa Cruz, updated January 2026. Luna Roja highlighted. Click to enlarge.

The property

Location

Santa Cruz Province, Deseado Massif

Access

Year-round by road from Fitz Roy: 30 km on National Highway 3, then 70 km of dirt road, with brief weather-related interruptions

Tenure

10,000 ha in three contiguous mineral tenements: El Monte I, II and III

Neighbours

~30 km NNW of Las Calandrias and ~75 km NW of Cerrado Gold’s Minera Don Nicolás mine

Ownership

Option to acquire 100% from Magna Terra for C$2,375,000 in staged cash and share payments, subject to a 1% NSR payable to Orogen Royalties Inc.

District upside

Ground magnetics (49 lines, 330 km) outline the Vía Láctea, Signos and El Monte fault systems. Cae El Sol, Luna Creciente, Alpha, Lambda and Omega remain undrilled

Aerial view of the Luna Roja property with a field vehicle on the plateau
Outcrop and red volcanic soil on a Luna Roja hillside
Field team and vehicle on the open Patagonian steppe

Built on earlier work

AuEx Argentina began exploring Luna Roja in 2007, with Agnico Eagle as joint-venture partner until 2012. The project then passed to Magna Terra Minerals, which drilled it in 2019. Lunex optioned Luna Roja in October 2025 and completed its first drill program in 2026.

~4,000 mof trenching, 2007 to 2012
1,478rock samples, 2007 to 2012
715soil samples, 2007 to 2012
14 linesof IP survey at 150 m spacing, Quantec 2011
1,185 mof diamond drilling in 8 holes, 2019

Source: NI 43-101 Technical Report, effective date June 10, 2026.

Lunex MetalsNext: Team

The team

Built on the ground in Argentina, backed by capital markets

Lunex Metals has assembled a team positioned for exploration success in Argentina, blending discovery experience in the Deseado Massif with a track record of building listed companies.

Management

Pablo Cortegoso

Pablo Cortegoso

CEO and Director

Civil engineer and mining executive with over 15 years of international experience. Co-founder and CTO of Stardust Power and CEO and co-founder of Andina 360.

Carlo Rigillo

Carlo Rigillo

CFO

Chartered Professional Accountant with over two decades of experience in risk management frameworks and business processes.

Joaquin Mignaquy

Joaquin Mignaquy

Vice President, Operations

Argentine business executive focused on mineral exploration and the development of mining opportunities in Argentina.

Ramiro Massa

Ramiro Massa

Vice President, Corporate Development

Mining executive with more than 20 years of experience across Latin America. Director and former President and CEO of Minsud Resources Corp.

Fernando Ganem

Fernando Ganem

Vice President, Exploration

Geologist and Qualified Person (AIPG, CPG-11859) with over 25 years in exploration across Latin America and Africa. Credited with more than 10 gold-silver discoveries in Patagonia; led Mina Martha into production.

Board of directors

Pablo Cortegoso

Pablo Cortegoso

Director, CEO

Registered Member of the Society for Mining, Metallurgy & Exploration and a Qualified Person under NI 43-101.

Joaquin Marias

Joaquin Marias

Director

Geologist with over 16 years of international experience. President, CEO and director of Argenta Silver Corp. (TSXV: AGAG).

Kurt Gattiker

Kurt Gattiker

Director

Finance professional involved in assessing gold, silver and lithium mining projects in Argentina.

Raymond D. Harari

Raymond D. Harari

Director

Founder of Canalis Capital. CEO and President of Argentina Metals Corp. (TSXV: VLLC).

Lewis Lawrick

Lewis Lawrick

Director

President, CEO and director of Magna Terra Minerals Inc. Founder of Signal Gold Inc.

Technical and advisory team

Isidoro Schalamuk

Isidoro Schalamuk

Technical Advisor

Directed the BID-CONICET/UNLP-FOMICRUZ program in Santa Cruz, leading to discoveries near Cerro Vanguardia.

Tomas de Pablos

Tomas de Pablos

Legal Advisor

Founding member of Exar S.A. (Lithium Americas) and Minera Cordillera S.A., with 19+ years in public affairs.

Zachary Goldenberg

Zachary Goldenberg

Capital Markets Advisor

Principal of Toronto-based Liberty Venture Partners and corporate lawyer on numerous TSX-V go-public transactions.

Juan Pablo Zagorodny

Juan Pablo Zagorodny, PhD, MBA

Environmental Specialist

Head of the MSc Program in Energy and Environment ITBA+KIT; former head of a lithium battery division.

Lucas Frana

Lucas Frana

Operations Manager

Co-founder of Andina 360 and specialist in mining project processes, due diligence and activity management.

Lunex MetalsNext: News

News

News releases

Every news release issued by the company, most recent first. Releases before December 15, 2025 were issued under the company’s former names.

All filings on the Lunex SEDAR+ profile
Lunex MetalsNext: Investors

Investors

Investor information

On October 1, 2026, Lunex received conditional approval to list its common shares on the TSX Venture Exchange under the symbol LUNX. Listing is subject to the satisfaction of certain conditions and receipt of final acceptance by the TSXV.

PresentationCorporate presentationOpen PDF → Technical reportNI 43-101 Technical Report on the Luna Roja ProjectOpen PDF → FinancialsFinancial statements and MD&AView reports ↓ FilingsLunex Metals on SEDAR+Open profile →

Share capital

Capital structure

Shareholder# of shares% of basic
Founders & Insiders23,625,00063.2%
Magna Terra Minerals (Property Vendor)1,018,5192.7%
Other Investors / Public Shareholders12,717,22334.0%
Basic Shares Outstanding37,360,742100.0%
Options1,800,000
Finder Warrants213,131
Contingent Shares240,000
Fully Diluted Shares39,613,873

As at October 14, 2026, following the closing of the final tranche. Contingent shares are issuable under a consulting agreement.

Founders & Insiders: 23,625,000 shares, 63.2% of basic sharesMagna Terra Minerals (Property Vendor): 1,018,519 shares, 2.7% of basic sharesOther Investors / Public Shareholders: 12,717,223 shares, 34.0% of basic shares63.2%2.7%34.0%

Roadmap

From permit to discovery

Two stages done. The listing has conditional approval and the next round of targets comes next.

Complete
01

Permit and target

  • Nov-Dec 2025 field campaign: mapping, trenching and systematic sampling
  • High-resolution magnetometry to refine targets
  • Environmental approval (DIA) received
Complete
02

Drill and confirm

  • 16 holes, 2,517.5 m at Cruz del Sur, Orión and Estrella del Norte
  • Results released July 2 and July 8, 2026
  • ~2.8 km mineralized corridor and a second mineralized center
In progress
03

List and expand

  • Conditional TSXV listing approval received October 1, 2026 (symbol: LUNX)
  • Phase 1 exploration work plan to begin in Q4 2026
  • Drill test the targets defined

Financials

Financial reports

Financial statements and management's discussion and analysis, as filed. The fiscal year ends October 31.

Other filings on the Lunex SEDAR+ profile
Lunex MetalsNext: Why Lunex

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