Mr. Marc Levy reports

NORSEMONT REPORTS SIGNIFICANT COPPER, LEAD & ZINC VALUES IN THREE CHOQUELIMPIE DRILL HOLES

Norsemont Mining Inc. has released overlimit base metal assay results (copper, lead and zinc) for three holes, which are contributing to target refinement for continuing drilling. These encouraging base metal results add to the geological understanding of the system and help refine targets for the continuing diamond drill program at Choquelimpie, focused on testing higher-grade hydrothermal breccia targets at depth and supporting potential resource growth. Additional metallurgical and drill results are anticipated to be released shortly.

Highlights:

• DD03: 24 metres averaging 0.95 gram per tonne gold equivalent, plus 0.29 per cent Cu;
• Elevated lead: multiple intersections of elevated lead values were intersected in all three holes;
• Elevated zinc: multiple intersections of elevated zinc values were also intersected in all three holes;
• Highest-grade intercepts:
  • DD01: four metres of elevated 2.85 g/t AuEq, plus 3.23 per cent Pb and 11.90 per cent Zn;
  • DD02: 29 metres of 1.89 g/t AuEq.

Management comments

Norsemont chief executive officer Marc Levy commented: "We are pleased with the positive gold and elevated base metal results from the first three holes of the 2025 phase 3 drill program. These long gold equivalent intercepts are above the current sulphide resource grade, highlighting the potential to upgrade the resource volume and average grade. We are also encouraged by the geological team's growing understanding of the controls on higher-grade mineralization. The data indicates the potential for a porphyry system. The presence of the elevated base metal mineralization is particularly intriguing, and we look forward to receiving further reassay results and integrating those data into the broader Choquelimpie geological model. These significant results add to our increasing confidence in the potential for substantial high-grade gold zones at depth and along strike beneath the existing open-pit resource."

The phase 3 drill program

Choquelimpie drill samples have been analyzed for silver, copper, lead and zinc using the inductively coupled plasma (ICP) analytical method. Initial assay values for some samples were reported as overlimit, meaning the ICP method is not accurate above a stated maximum concentration. These samples have been reassayed by atomic absorption spectrometry (AA), a method that is accurate at the higher concentration levels. The AA results have been received for much of the phase 3 (2025) drilling, with distinct zones of silver-lead-zinc, lead-zinc and copper mineralization being intersected. Continuous base metal intercepts, along with the corresponding gold and silver concentrations, are summarized in Table 1. The primary gold intercepts, previously reported in a Norsemont press release dated Feb. 24, 2026, are also included. AuEq values are now also reported (Table 1).

Base metal values are low for the DD-01 (Vizcacha zone) primary gold intercept (zero to 109 metres depth). However, an intercept of silver-lead-zinc mineralization is present farther down the hole (130 to 180 metres). Gold, within this interval, is also elevated (1.40 g/t) at 165 to 169 meters.

Base metal values are also low for the DD-02 (Vizcacha zone) primary gold intercept (zero to 94 metres depth). Zones for each of silver/lead/zinc (211 to 219 metres depth) and lead-zinc (230 to 238 metres depth) mineralization have been intersected by the hole.

Anomalous copper mineralization (0.21 per cent average) is coincident with the upper gold intercept for DD-03 (Choque zone). In addition, primarily lead-zinc mineralization has been intersected at downhole depths of 80 to 87 metres and 119 to 143 metres.

The mineralogical relationship between the precious metal and base metal mineralization will be assessed as part of metallurgical studies planned to be conducted on sulphide materials later in 2026. The three-dimensional spatial relationships between the various mineral intercept types will also be analyzed once additional data have been received. The results of these studies, in conjunction with geological and geophysical information, should provide important data points to aid in interpretation of the evolution of the Choquelimpie hydrothermal mineralizing system.

The phase 3 drill campaign at Choquelimpie has successfully evaluated the downdip extensions of higher-grade gold mineralization (greater than one gram per tonne gold) hosted within hydrothermal breccia zones. Seven core holes totalling approximately 1,650 metres have been completed.

All split drill core samples for the drilling have been shipped to Activation Geological Services SpA for geochemical analysis. The samples have been prepared at the AGS facility in Antofagasta, Chile, and are being analyzed at the AGS geochemical laboratory, in Coquimbo, Chile. The laboratory has an ISO 17025 certification. The gold grades are being determined by fire assay (AGS code AU-FA30). Drill intervals that have some degree of oxidation are also being analyzed by the cyanide-soluble gold method (AUCN).

Samples have also been analyzed for 60 elements, including silver, by mass spectrometer (MS TD60). In addition, silver and specific base metals have been reassayed by atomic absorption (AGS code 4ACID-AAS) for samples where the initial value for a particular element is greater than the limit of accuracy (overlimit) for that method. The overlimit values are 100 parts per million for silver, 10,000 ppm for copper, 5,000 ppm for lead and 10,000 ppm for zinc.

Examination of Norsemont's 2021 core drilling assay results has determined that values for multiple individual samples from that program have also been reported with overlimit values. These samples, where material remains available, will also be reassayed according to the protocols being utilized for the phase 3 drill program.

Standard and blank samples have been inserted at a frequency of one each for every 20 drill samples.

AuEq values have also been calculated according to the following formula: AuEq (g/t) equals Au (g/t) plus Ag (g/t) multiplied by Ag price divided by Au price multiplied by Ag recovery divided by Au recovery, where Au price equals $4,000 (U.S.) per ounce, silver price equals $62 (U.S.) per ounce, Au recovery equals 88 per cent and Ag recovery equals 87 per cent (recoveries based on historical flotation test results).

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

Marketing contracts

The company is also pleased to announce it has extended the service agreement dated Jan. 9, 2026, with Native Ads Inc. of 244 Fifth Ave., Suite N-249, New York, N.Y., 10001, United States (1-877-773-3540), to provide investor awareness and promotional services, subject to approval by the Canadian Securities Exchange. The campaign which commenced in the first quarter of 2026, will continue for up to 12 months or until the approved budget is fully expended. The principal of Native Ads is Jon Malach.

Under the agreement, Native Ads will conduct a digital media and content distribution campaign intended to increase awareness and understanding of the company and its efforts. The campaign will include digital advertising across search engines, financial publications and financial websites. The company has approved a budget of up to $200,000 (U.S.) for these services.

The agreement contains no performance-based factors, and Native Ads will not receive any equity as compensation. Native Ads and the company are unrelated and unaffiliated entities, and, at the time of the agreement, neither Native Ads nor its principals hold any direct or indirect interest in the securities of the company.

Qualified person

David Flint, MSc, AIPG-CPG, chief geologist of Norsemont Mining and 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 indicated mineral resource estimate of 81.9 million tonnes at a gold grade of 0.66 g/t (1,731,000 gold ounces) and a silver grade of 12.6 g/t (33,233,000 silver ounces) and an inferred mineral resource of 25.3 million tonnes at a gold grade of 0.55 g/t (446,000 gold ounces) and a silver grade of 8.9 g/t (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.