Mr. Marc Levy reports

NORSEMONT ANNOUNCES REVOCATION OF THE MCTO

Norsemont Mining Inc. has rectified its continuous disclosure deficiencies as noted below and the British Columbia Securities Commission has revoked the management cease trade order (MCTO) previously issued by the BCSC under National Policy 12-203, Management Cease Trade Orders.

As previously announced on May 2, 2024, the company made an application to the BCSC to approve a temporary MCTO on the basis that it would be unable to file its annual audited financial statements, management's discussion and analysis, and chief executive officer and chief financial officer certifications for the year ended Dec. 31, 2023, on or before the prescribed filing deadline of April 29, 2024, as required by National Instrument 51-102, Continuous Disclosure Obligations, and National Instrument 52-109, Certification of Disclosure in Issuer's Annual and Interim Filings, respectively. The BCSC approved the application on May 2, 2024, and issued the MCTO on May 2, 2024.

On June 12, 2024, the company requested an extension of the MCTO until July 12, 2024. The BCSC reviewed the request and granted an extension until July 12, 2024.

As a result of the delay in completing the annual filings, the company was also late in the filing of its interim financial statements, management's discussion and analysis, and CEO/CFO certifications for the three months ended March 31, 2023.

The BCSC has revoked the MCTO as both the annual and interim filings were filed by the company on July 12, 2024, and July 18, 2024, respectively, copies of which are available on the company's SEDAR+ profile.

About Norsemont Mining Inc.

Norsemont comprises experienced natural resource professionals focused on growing shareholder value and developing its flagship project through bankable feasibility. Norsemont owns a 100-per-cent interest in the Choquelimpie gold-silver-copper project in northern Chile, a previously permitted gold and silver mine. Choquelimpie has over 1,710 drill holes, with significant existing infrastructure, including roads, power, water, camp and a 3,000-tonne-per-day mill.