Mr. Marc Levy reports

NORSEMONT ANNOUNCES CLOSING OF FINAL TRANCHE OF PRIVATE PLACEMENT FROM STRATEGIC INVESTOR PAUL MATYSEK

Paul Matysek has participated in an additional round of Norsemont Mining Inc.'s financing first announced Aug. 1, 2025. The company has closed the final tranche of a non-brokered private placement consisting of one million units of the company at 60 cents per unit for gross proceeds of $600,000. 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 cents per common share for a period of two years from the date of closing. To date, the company has raised aggregate gross proceeds of $6,079,199.40 under the offering.

In the event that the company's common shares close at a price on the exchange of $1.25 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 a phase 3 drill program at the Choquelimpie gold-silver-copper project in northern Chile. Use of funds will include drilling targeting the copper porphyry zone, high-grade gold zones and oxide/leachable gold zone, and metallurgy, plus general working capital.

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

"Closing over $6-million in our recent financing with support from strategic industry leaders, including Rob McEwen, Crescat Capital, Dr. Quinton Hennigh and Larry Lepard, and now attracting mining entrepreneur Paul Matysek, is a powerful endorsement of our vision and the significant upside at Choquelimpie. With this backing, Norsemont is well positioned to advance drilling, metallurgy and engineering, and move toward a production scenario that can unlock substantial value for all stakeholders," said Marc Levy, chief executive officer of Norsemont.

"Norsemont's Choquelimpie project is a significant mineralized system in northern Chile, a region renowned for hosting some of the world's largest ore deposits. While only a small portion of the upper epithermal system was historically mined, the broader potential along strike and at depth remains virtually untouched. I believe a disciplined drill campaign can rapidly expand the already substantial gold and silver resources while positioning Choquelimpie for near-term production in a strong gold market. I am very excited to invest in this opportunity as Norsemont's experienced team works to unlock the full potential of this porphyry-epithermal system," said Mr. Matysek.

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.