Mr. Allan Larmour reports

NORSEMONT MINING INC. ANNOUNCES EXTENSION OF WARRANTS

Norsemont Mining Inc. intends to seek Canadian Securities Exchange approval to extend the expiry date of an aggregate of 627,334 warrants previously issued and exercisable at 40 cents per share.

The warrants were issued pursuant to a private placement, which closed over two tranches in May and June, 2019. The company proposes to extend the expiry date of all warrants by one year. The particulars of the proposed extension to the terms of the warrants are as follows:

• Tranche 1 -- 552,334 warrants issued on May 27, 2019, with an exercise price of 40 cents per share, due to expire on May 27, 2020, to be extended to May 27, 2021;
• Tranche 2 -- 75,000 warrants issued on June 13, 2019, with an exercise price of 40 cents per share, due to expire on June 13, 2020, to be extended to June 13, 2021.

All other terms and conditions of the warrants remain unchanged.