Mr. Marc Levy reports

NORSEMONT COMMENCES DRILL PROGRAM AT CHOQUELIMPIE PROJECT

Norsemont Mining Inc. has commenced its phase 3 exploration drill program at the 100-per-cent-owned Choquelimpie high-sulphidation gold-silver-copper project in northern Chile. The program will comprise up to 5,000 metres of diamond drilling utilizing two diamond drill rigs, with drilling scheduled to begin immediately and continue through late December.

Highlights:

• The first diamond drill rig is currently on site, with the second rig expected to arrive next week.
• The phase 3 program includes up to 20 diamond drill holes, totalling approximately 5,000 metres.
• Drilling will test extensions of higher-grade hydrothermal breccia bodies at depth below the current mineral resource envelope.

Management comments

Norsemont chief executive officer Marc Levy commented: "We are very excited to launch phase 3 drilling at Choquelimpie, where our recent work has highlighted significant potential for higher-grade gold zones at depth beneath the current resource and along strike. This high impact program will be testing higher-grade mineralization at depth in several zones such as Choque, Vizcacha and Suri. The program marks an important step forward as we continue to define the scale and continuity of mineralization across the project. With two rigs on site, we expect steady progress and consistent news flow over the coming months."

The phase 3 drill program

The phase 3 drill campaign at Choquelimpie is designed to evaluate downdip extensions of high-grade gold mineralization hosted within hydrothermal breccia zones. The program will comprise up to 20 holes averaging 250 metres in length.

Norsemont, through its wholly owned Chilean subsidiary SCM Vilacollo, has engaged DV Drilling Ltd. of Coquimbo, Chile, to conduct the program. DV Drilling will mobilize two Longyear LF230 track-mounted diamond drill rigs, which will operate on a 24-hour schedule throughout the campaign.

Historical production at Choquelimpie during the period of 1988 to 1996 focused primarily on oxidized near-surface mineralization between 20- and 100-metre depth, depending in the type of rock, alteration and mineralogy. Consequently, much of the exploration at the project focused on this near-surface oxide resource without testing the deeper, potentially larger, sulphide resource. The phase 3 drill program aims to systematically assess this deeper resource potential by targeting the geometry of the higher-grade breccia bodies.

Qualified person

David Flint, MSc, AIPG-CPG, chief geologist of Norsemont, a qualified person as defined in National Instrument 43-101, has reviewed and approved the technical information in this press release.

About Norsemont Mining Inc.

The Norsemont team comprises experienced natural resource professionals focused on growing shareholder value and developing its flagship project through to bankable feasibility, with an initial mineral resource estimate released in April, 2025, 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 past-producing gold and silver mine with significant exploration upside. Choquelimpie has over 1,710 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.

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