Mr. Marc Levy reports

NORSEMONT ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Norsemont Mining Inc. is undertaking a non-brokered private placement of up to seven million units of the company at a price of 60 Canadian cents (44 U.S. cents) per unit for gross proceeds of up to $3.5-million (Canadian) with an overallotment of up to 20 per cent of the offering. Each unit will consist of one common share and one-half of one warrant. Each warrant entitles the holder to acquire one common share at a price of 75 Canadian cents (55 U.S. cents) per common share for a period of two years from the date of closing. The company anticipates closing the first tranche of $2-million on Aug. 11, 2025, subject to the standard five-day notice period required by the Canadian Securities Exchange.

In the event that the company's common shares close at a price on the exchange of $1.25 (Canadian) (92 U.S. cents) or greater per common share for a period of 10 consecutive trading days after four months and one day from the closing of the offering, the company may accelerate the expiry of the warrants by giving notice to the holders thereof (by disseminating a news release advising of the acceleration of the expiry date of the warrants), and, in such case, the warrants will expire on the 10th business day after the date of such notice.

For Canadian investors, there is a hold period of four months and one day from the issuance of the units. For U.S. investors, they will additionally be subject to hold periods as required by applicable federal and blue-sky securities laws.

The proceeds of the offering are anticipated to be used for phase 3 drill programs, which will include diamond drill hole deep 600-metre holes into the copper porphyry zone, 300-metre drill holes into high-grade gold zones and shallow holes into oxide/leachable gold zone, metallurgy, and general working capital, and to advance the Choquelimpie gold-silver-copper project in northern Chile.

The offerings are subject to compliance with Canadian Securities Exchange policies.

Marc Levy, chief executive officer and chairman of Norsemont, said: "I am excited to welcome several new strategic investors from both North and South America, along with key existing investors, to participate in this financing. Their support is a strong endorsement of our vision and will enable us to advance our Choquelimpie project through upcoming drilling and technical programs scheduled for this year."

Engagement of marketing consultants

The company has engaged Danayi Capital Corp., an arm's-length service provider, to provide the company with certain investor relations and digital marketing services, in accordance with the policies of the CSE and applicable securities laws. Danayi specializes in marketing, advertising and public awareness within the mining and metal sector. Under a digital marketing agreement dated Aug. 1, 2025, Danayi will provide digital media, marketing strategies and advertising for a trial period of one month at a fee of $50,000 (U.S.). The company may extend the agreement at its discretion for up to six months. The engagement is subject to the approval of the CSE. Danayi does not currently have any direct or indirect interest in the company or its securities, and has no intention or right to acquire such an interest during the engagement.

Additionally, the company announces that it has entered into a digital marketing service agreement with Altura Media Co. Inc. for a monthly fee of $20,000 (Canadian) for marketing services. The company agreed to a minimum initial term of one month, with the option to extend the agreement on a month-to-month basis for up to five additional months, subject to mutual agreement and subject to CSE approval, to commence on Aug. 15, 2025. Under the agreement, Altura will provide a comprehensive suite of services, including digital advertising, media creation, social media marketing and shareholder communications. Altura and its principals have an arm's-length relationship with the company. Altura does not currently have any direct or indirect interest in the company or its securities, and has no intention or right to acquire such an interest during the engagement.

Pursuant to its equity incentive plan, the company has granted 50,000 restricted share units to a geological consultant of the company. The RSUs vest immediately. The RSUs, as well as any common shares issued upon settlement or exercise thereof, are subject to a statutory hold period of four months and one day from the date of grant.

About Norsemont Mining Inc.

The Norsemont team comprises experienced natural resource professionals focused on increasing shareholder value and developing its flagship project through to bankable feasibility, with an initial mineral resource estimate of 2,184,000 indicated gold equivalent ounces and 557,000 inferred gold equivalent ounces for its Choquelimpie gold-silver-copper project. Norsemont Mining owns a 100-per-cent interest in the Choquelimpie gold-silver-copper project in northern Chile, a previously permitted gold and silver mine with significant exploration upside. Choquelimpie has over 1,700 drill holes, with significant existing infrastructure, including roads, power, water, camp and a 3,000-tonne-per-day mill. Norsemont is committed to responsible and sustainable resource development, leveraging modern exploration techniques to unlock further value for all stakeholders.

We seek Safe Harbor.