Mr. Marc Levy reports

NORSEMONT DRILLING PROGRAM UPDATE AT CHOQUELIMPIE

Norsemont Mining Inc. has completed the initial diamond drill hole and commenced two additional drill holes of its phase 3 exploration drill program at the 100-per-cent-owned Choquelimpie high-sulphidation gold-silver-copper project in northern Chile. The first hole was targeting higher-grade gold mineralization hosted in the Vizcacha hydrothermal breccia. The phase 3 program will comprise up to 5,000 metres of diamond drilling utilizing two diamond drill rigs, with drilling scheduled to continue through late December.

Highlights:

• Diamond drill hole MV25-DD01, targeting the Vizcacha higher-grade hydrothermal breccia, has been completed to a depth of 300 metres.
• Diamond drill hole MV25-DD02 has been collared, from the same station as MV25-DD01, to also target the Vizcacha hydrothermal breccia to depth.
• MV25-DD03 has been designed to explore the Choque zone at depth, below the area where gold grades have been calculated within the 2025 resource model (Wilson, 2025).

Management comments

Norsemont chief executive officer Marc Levy commented: "With the second and third diamond drill holes now in progress at Choquelimpie utilizing two drill rigs, we are rapidly advancing what we believe could be a transformative phase 3 drill program. The targeting of these holes reflects our growing confidence in the potential for substantial high-grade gold zones at depth and along strike below the existing open-pit resource. We look forward to further updating shareholders as drilling continues and results become available."

The phase 3 drill program

The phase 3 drill campaign at Choquelimpie is designed to evaluate downdip extensions of higher-grade gold mineralization (greater than one gram per tonne gold) 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 phase 3 exploration program. DV Drilling is operating one each of a Golden Bear 1400 and CSK C1500, truck-mounted diamond drills. The rigs will be operated on a 24-hour schedule.

Drill core samples will be prepared at the Activation Geological Services SpA facility located in Antofagasta, Chile, and analyzed at the AGS geochemical laboratory, located at Coquimbo, Chile. The laboratory has an ISO 17025 certification.

Downhole surveys are being conducted by DV Drilling utilizing a device gyroscope.

Hole MV25-DD01 has been collared. The hole, oriented at an azimuth of 275 degrees and inclined at 70 degrees, has been completed to a depth of 300 metres. The hole dominantly intersected the Vizcacha hydrothermal breccia as predicted. The breccia hosts moderate to strong pyrite mineralization (1 to 7 per cent) as disseminations and in veinlets. Silica-pyrite and silica-enargite veinlets also were intersected from the 180-metre depth to the end of hole. Assays are pending.

Hole MV25-DD02 has been collared, from the same station as MV25-DD01, to also target the Vizcacha hydrothermal breccia to depth. The hole is oriented at an azimuth of 180 degrees, is inclined at 80 degrees and has a design depth of 225 metres. The hole is intersecting the Vizcacha hydrothermal breccia, with disseminated and veinlet-hosted sulphides.

Hole MV25-DD03 has been collared. This drill hole targets the Choque zone at depth, below the area where higher gold grades have been calculated within the 2025 resource model (Wilson, 2025). This drill hole will also intersect a modelled hydrothermal breccia body.

The phase 3 exploration program is being supervised by Roman Flores, a persona calificada (qualified person) with the Commission Minera Chile.

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 increasing shareholder value and developing its flagship project through to bankable feasibility, with an indicated mineral resource estimate of 1,731,000 gold ounces and 33,233,000 silver ounces, and an inferred mineral resource of 446,000 gold ounces and 7,219,000 silver 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 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.

We seek Safe Harbor.