File: '\\swfile\EmailIn\20240829 095957 Attachment 20240829_Stock Options RSUs.docx'

NORSEMONT MINING INC.

Suite 610, 700 West Pender Street

Vancouver, BC, V6C 1G8

Phone: 604-669-9788

NEWS RELEASE

NORSEMONT ISSUES STOCK OPTIONS AND RESTRICTED SHARE UNITS

Vancouver, B.C., August 29, 2024 - Norsemont Mining Inc. (CSE: NOM, OTCQB: NRRSF, FWB: LXZ1) ("Norsemont" or the "Company") is pleased to announce that, pursuant to its stock option plan, it has granted incentive stock options and restricted share units ("RSUs") to directors, officers, employees and consultants of the Company. 200,000 RSUs were awarded and 650,000 stock options were granted to purchase 650,000 common shares exercisable at a price of $0.12 per share for a period of five years. Both options and RSUs vest immediately. The Company has also cancelled 1,590,000 stock options.

About Norsemont Mining

Norsemont comprises experienced natural resource professionals focused on growing shareholder value and developing its flagship project through bankable feasibility. Norsemont Mining owns a 100% 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.

On behalf of the Board of Directors,

NORSEMONT MINING INC.

Marc Levy

CEO & Chairman

For more information, please contact the Company at:

Telephone: (604) 669-9788; Facsimile: (604) 669-9768

Investor Relations: Paul Searle (778) 240-7724

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.