Norsemont Drilling Program Update at Choquelimpie

Vancouver, December 2, 2025 - Norsemont Mining Inc. (CSE: NOM, OTC: NRRSF, FWB: LXZ1) ("Norsemont" or the "Company") is pleased to announce completion of the initial diamond drill hole and commencement of 2 additional drill holes of its Phase 3 exploration drill program at the 100%-owned Choquelimpie high-sulfidation gold-silver-copper project in northern Chile. The first hole was targeting higher-grade gold mineralization hosted in the Vizcacha hydrothermal Brecia (Figure 1). The Phase 3 program will comprise up to 5,000 meters of diamond drilling ("DDH") utilizing two (2) 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 meters (Figure 2).

• Diamond drill hole MV25-DD02 has been collared, from the same station as MV25-DD01 (Figure 1), to also target the Vizcacha Hydrothermal Breccia to depth (Figure 2)

• MV25-DD03 has been designed to explore the Choque Zone (Figure 1) at depth, below the area where gold grades have been calculated within the 2025 resource model (Wilson, 2025), (Figure 3).

Management Comments

Norsemont CEO Marc Levy commented:

"With the second and third diamond drill holes now in progress at Choquelimpie utilizing 2 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 down-dip extensions of higher-grade gold mineralization (>1 gram/tonne Au) 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 Figure 1.

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 (AGS) 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 at coordinates of E473,285, N7,975,980 and an elevation of 4,694 meters (blue star on Figure 1). The hole, oriented at an azimuth of 275 degrees and inclined at 70 degrees, has been completed to a depth of 300 meters. The hole dominantly intersected the Vizcacha hydrothermal breccia ("Brecha Hidrotermal" in Figure 2), as predicted. The breccia hosts moderate to strong pyrite mineralization (1 - 7%), as disseminations and in veinlets. Silica-pyrite and silica-enargite veinlets also were intersected from the 180-meter 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 (Figure 2). The hole: is oriented at an azimuth of 180 degrees, is inclined at 80 degrees and has a design depth of 225 meters. The hole is intersecting the Vizcacha Hydrothermal Breccia, with disseminated and veinlet-hosted sulfides.

Hole MV25-DD03 has been collared: at coordinates of E472,622, and N7,975,811 (Figure 1), at an elevation of 4,735 meters, and with a design depth of 275 meters (Figure 3). This drill hole targets the Choque Zone at depth, below the area where higher gold grades (red, pink & purple display colors on Figure 3) have been calculated within the 2025 resource model (Wilson, 2025), (Figure 3). This drill hole will also intersect a modeled hydrothermal breccia body.

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

References:

Wilson, S. E., 2025, NI 43-101 Technical Report for the Choquelimpie Au-Ag Project Region 1 Chile, 115p.

Figure 1

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Figure 2: DD01 & DD02 Cross Section

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Notes: 1) The line of section is displayed in Figure 1; 2) West-east section, looking North; 3) Block model grades in grams/tonne Au & 4) Block model display filtered to > 0.20 grams/tonne Au.

Figure 3: DD03 Cross Section

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Notes: 1) The line of section is displayed in Figure 1; 2) North-south section, looking east; 3) Block model grades in grams/tonne Au & 4) Block model display filtered to > 0.20 grams/tonne Au.

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 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% 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.

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

Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward?looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the Offering and entry into the marketing agreements.

These forward?looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, the Company not receiving the necessary regulatory approvals in respect of the Offering and marketing agreements contemplated herein and, with respect to the Offering, risks adverse to the capital markets, the mining industry, and investor support. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will receive the necessary regulatory approvals and receive market interest to close the Offering on the terms herein.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, except as required by applicable securities laws.

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