First Drill Hole Commenced and Second Drill Rig has Arrived at Choquelimpie Project

Highlights

• Diamond drill hole MV25-DD01 has collared, targeting higher-grade gold mineralization hosted in the Vizcacha hydrothermal breccia (figure below).

• The hole is oriented at an azimuth of 275 degrees, inclined at 70 degrees, and has a target depth of 225 meters.

• MV25-DD01 has been designed to explore the Vizcacha Zone to depth, below the area where grades have been calculated within the April 2025 resource model.

Management Comments

Norsemont CEO Marc Levy commented:

"We are very excited to collar the 1st hole of the Phase 3 drilling program 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 potential high impact hole will test previously indicated higher grade mineralization hosted in the Vizcacha hydrothermal breccia. We are also nearing completion of the engineering report on our 3,000 TPD plant and expect to deliver a update on our near-term production strategy this quarter."

The Phase 3 Drill Program

The Phase 3 drill campaign at Choquelimpie is designed to evaluate down-dip extensions of high-grade gold mineralization hosted within hydrothermal breccia zones. The program will comprise up to 20 holes averaging 250 meters in length. The priority drill stations for this program are shown on the figure below.

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 a Longyear LF230 truck-mounted diamond drill rig, on a 24-hour schedule.

Drill core will be assayed at Activation Geological Services SpA (AGS) geochemical laboratory, located at Coquimbo, Chile. The laboratory has an ISO 17025 certification.

Hole MV25-DD01 has been collared at coordinates of E473,285, N7,975,980 and an elevation of 4,694 meters (blue star on the figure below). The hole is oriented at an azimuth of 275 degrees, inclined at 70 degrees and has a target depth of 225 meters.

This first hole of the Phase 3 program is expected to intersect the higher-grade Vizcacha hydrothermal breccia. Historical exploration of the Vizcacha deposit has primarily consisted of multiple shallow rotary drill holes. MV25-DD01 has been designed to explore Vizcacha to depth.

The Phase 3 exploration program is being supervised by Roman Flores, a Persona Calificada (Q.P.) with the Commission Minera Chile.

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Qualified Person

David Flint, MSc, AIPG-CPG, and Chief Geologist of Norsemont Mining Inc.; a qualified person as defined in NI 43-101, has reviewed and approved the technical information in this press release.

On Behalf of the Board,

NORSEMONT MINING INC.

Marc Levy

CEO & Chairman

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% 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 143,000 meters drilled in 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.

For more information, please contact the Company at: psearle@norsemont.com
Investor Relations: Paul Searle (778) 240-7724

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Forward-Looking Statements

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